gift your child a bright future....mutual fund investments are subject to market risks , read all...

M U T U A L F U N D I N V E S T M E N T S A R E S U B J E C T T O M A R K E T R I S K S ,R E A D A L L S C H E M E R E L A T E D D O C U M E N T S C A R E F U L L Y .

Gift your child a bright future.

To know more, contact your financial adviser or give a missed call on 92218 12345.

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Capital appreciation over long term Investment in equity and equity-related instruments as well as debt and money market instruments

#Subject to the terms and conditions of the Scheme & the Group Personal Accident Insurance Policy detailed in the Scheme Information Document.

HDFC Children’s Gift Fund (An open-endedfund for investment for children havinga lock-in for at least 5 years or till the childattains age of majority {whichever is earlier})is suitable for investors who are seeking*:

Riskometer

Consider HDFC Children’s Gift Fund.

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Factsheet Size : 8.25 x 10.75 IN

October 2018

2 October 2018 Intouch mutually

Fund ManagerAn employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts.

Application Amount for Fresh SubscriptionThis is the minimum investment amount for a new investor in a mutual fund scheme.

Minimum Additional AmountThis is the minimum investment amount for an existing investor in a mutual fund scheme.

Yield to MaturityThe Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond’s current market price, par value, coupon interest rate and time to maturity.

SIPSIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years.

NAVThe NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund.

BenchmarkA group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the NIFTY, SeNSex, BSe200, BSe500, 10-Year Gsec.

Entry LoadA mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. entry load is charged at the time an investor purchases the units of a mutual fund.

The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs. 100 and the entry load is 1 %, the investor will enter the fund at Rs. 101. (Note: SeBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor).

Exit Loadexit load is charged at the time an investor redeems the units of a mutual fund. The exit load is reduced from the prevailing NAV at the time of redemption. The investor will receive redemption proceed at net value of NAV less Exit Load. For instance if the NAV is Rs. 100 and the exit load is 1%, the investor will receive Rs. 99.

Modified DurationModified duration is the price sensitivity and the percentage change in price for a unit change in yield.

Standard DeviationStandard deviation is a statistical measure of the range of an investment’s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. Sharpe Ratio

The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta Ratio (Portfolio Beta)

Beta is a measure of an investment’s volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security’s price will be more volatile than the market. Average portfolio PE (Average P/E)

It is price to earnings ratio of the stocks calculated for the entire portfolio on a weighted average basis. Average portfolio price to book ratio (Average P/BV)

It is price to book value of the stocks calculated for the entire portfolio on a weighted average basis. Average portfolio dividend yield (Average Dividend Yield)

It is dividend yield of the stocks calculated for the entire portfolio on a weighted average basis. Net Equity

Net equity level is the net equity exposure percentage adjusted for any derivative positions in stocks or index for hedging or rebalancing purpose. R Squared

It is a statistical measure of how closely the portfolio returns are correlated with its benchmark. AUM

AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings

The holdings or the portfolio is a mutual fund’s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature of Scheme

The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. each of these categories may have sub-categories. Rating Profile

Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds.

HOW TO READ FACTSHEET

Sharpe RatioSharpe Ratio is a risk to reward ratio, it measures portfolio returns generated in excess to the investment in risk-free asset, for per unit of total risk taken. While, positive Sharpe ratio indicates, portfolio compensating investors with excess returns (over risk-free rate) for the commensurate risk taken; negative Sharpe ratio indicates, investors are better off investing in risk-free assets.

BetaBeta (ß) of a portfolio is a number indicating the relation between portfolio returns with that of the market index i.e. it measure the volatility, or systematic risk, of a portfolio in comparison to the market as a whole.

Modified DurationA formula that expresses the measurable change in the value of a security in response to a change in interest rates. Modified duration of portfolio can be used to anticipate the change in market value of portfolio for every change in portfolio yield.

Standard DeviationA statistical measure that defines expected volatility/risk associated with a portfolio. This explains the variation/deviation from the average returns delivered by the portfolio. A higher standard deviation means higher volatility (risk) and a lower standard deviation means lower volatility.

Risk Free ReturnThe theoretical rate of return of an investment with safest (zero risk) investment in a country.

Total Expense RatioTotal expenses charged to scheme for the month expressed as a percentage to average monthly net assets.

Tracking ErrorTracking error indicates how closely the portfolio return is tracking the benchmark Index return. It measures the deviation between portfolio return and benchmark index return. A lower tracking error indicates portfolio closely tracking benchmark index and higher tracking error indicates portfolio returns with higher deviation from benchmark index returns.

Average MaturityWeighted average maturity of the securities in scheme.

Portfolio Yield (Yield To Maturity)Weighted average yield of the securities in scheme portfolio.

Portfolio Turnover RatioPortfolio Turnover Ratio is the percentage of a fund’s holdings that have changed in a given year. This ratio measures the fund’s trading activity, which is computed by taking the lesser of purchases or sales and dividing by average monthly net assets.

Macaulay Duration (Duration)Macaulay Duration (Duration) measures the price volatility of fixed income securities. It is often used in the comparison of interest rate risk between securities with different coupons and different maturities. It is defined as the weighted average time to cash flows of a bond where the weights are nothing but the present value of the cash flows themselves. It is expressed in years. The duration of a fixed income security is always shorter than its term to maturity, except in the case of zero coupon securities where they are the same.

GLOSSARY

Intouch mutually October 2018 3

Equity Market updateIndian equity markets corrected by 5% in October amid concerns over global

slowdown due to trade wars, global capital markets selloff, concerns around NBFCs, worries over discretionary demand, elevated crude oil prices and depreciating INR. Midcaps / Smallcaps outperformed SENSEX / NIFTY 50 in October, though in 2018 CYTD till October midcap / small caps indices have underperformed significantly. Banking, capital goods and power sectors performed well while Auto, oil & gas and IT underperformed.

Global equity markets also performed poorly with all major indices ending the month significantly negative on MoM basis. KOSPI was the worst performer, down 13.4%.

The table below gives the details of performance of key domestic and global indices.

% Change in Indices CY 2017 1M CY 2018 YTDS&P BSE India Auto 32.1 (7.4) (25.7)S&P BSE India Bankex 39.1 1.3 (1.7)S&P BSE India Capital Goods 40.0 2.2 (8.6)S&P BSE India FMCG 31.5 (3.3) 4.0S&P BSE India Healthcare 0.5 (2.0) (0.5)S&P BSE India Metal 47.8 (5.7) (16.2)S&P BSE India Power 19.8 1.5 (17.8)S&P BSE India Oil & Gas 34.0 (10.8) (18.6)S&P BSE India IT 10.8 (7.0) 28.9S&P BSE SENSEX 27.9 (4.9) 1.1NIFTY 50 28.6 (5.0) (1.4)NIFTY Midcap 100 47.3 0.2 (18.7)NIFTY Smallcap 57.3 (1.4) (33.3)

% Change in Indices CY 2017 1M CY 2018 YTDS&P 500 19.4 (6.9) 1.4FTSE 7.6 (5.1) (7.3)DAX 12.5 (6.5) (11.4)CAC 9.3 (7.3) (4.1)Nikkei 19.1 (9.1) (3.7)Hang Seng 36.0 (10.1) (16.5)KOSPI 21.8 (13.4) (17.7)Shanghai 6.6 (7.7) (21.3)MSCI Emerging Market Index 34.3 (8.8) (17.5)

During the month, Brent crude price corrected sharply by ~9% (though still up 18.5% in 2018 so far) and closed at USD 72. India basket for crude FY19YTD has been USD 75 vs FY18 average of USD 56. Most other major commodities also corrected with lead being the worst performer down 5.5% while Gold being the best performer, up 2%.

INR ended the month at 74.0 vs USD. INR has depreciated by 2% in October and 13.6% in 2018 vs USD. The current depreciation of INR vs USD is in line with the long term trend of INR vs USD due to higher inflation in India. Besides, as the below chart shows in FY19 most developing / developed currencies have depreciated vs the USD due to strong US economy, rising rates in the US etc.

Developed Economies

Developing Economies

India

-30.0 -25.0 -20.0 -15.0 -10.0 -5.0 0.0

Turkish LiraSouth African RandRussian RubleIndian RupeeBrazilian RealMexicoChinese YuanIndonesian RupiahPoundEuroAustralian dollarSouth Koran WonJapanese YenCanadian Dollar

Movement of Major currencies vs USD FY19 YTD till Oct

In view of the above it would be more appropriate to describe INR movement as appreciation of USD, instead of INR depreciation.

FPIs sold Indian equities worth US$3.9 bn during October. FPI’s Equity sales in FY19YTD till September have been close to US$7.9bn. Equity oriented mutual funds flows continue to remain healthy providing a good counter balance in the markets. Net inflows in domestic equity oriented mutual funds in September 2018 were Rs 11,900 crores. Total net inflows domestic equity oriented mutual funds in FY19YTD till September have been nearly Rs 72,500 crores.

Amongst the results declared so far for Q2FY19, results of corporate banks, infrastructure and industrials etc. were above expectations while those of NBFCs, metals and capital goods were largely in line with expectations. Earnings for retail banks and Information technology sectors were mixed while for auto, telecom, media & entertainment, Oil & gas and consumers were below or slightly below expectations.

NIFTY 50 is trading near 18x CY18 (e) and 15x CY19 (e). These are reasonable multiples especially in view of improving profit growth outlook. Markets thus hold promise over the medium to long term in our opinion. Adverse global events, rising crude oil prices, sharp moderation in equity oriented mutual funds flows and delays in NPA resolution under NCLT are key risks in the near term.

In view of the above, the opportunity created by correction in Indian markets should be used by discerning investors to increase allocation to equities, especially in multi cap / large cap Funds in a phased manner or in staying invested as the case may be (for those with a medium to long term view and in line with individual risk appetite).

Debt Market updateThe yield on 10-year benchmark (7.17% GoI 2028) ended the month at 7.85%,

down by 17 bps MoM due to dovish RBI monetary policy with no hike in rates and fall in Brent crude oil prices from intra month high of ~$87 to ~$74 per barrel. The yield on 10-year AAA Corporate Bonds ended the month flat at 8.78%. Thus, corporate bond spreads during the month widened to 77 bps as against 60 bps in September 2018 (spread against 7.17% GoI 2028).

Liquidity conditions remained positive during first week of the month but turned negative thereafter. On overall basis, as against ~Rs 42,000 crores of liquidity infused by RBI in September 2018 through various sources, ~Rs 58,000 crores of liquidity was infused by RBI on an average in Oct18. To support liquidity, RBI purchased INR 360 bn worth of G-Secs through Open Market Operations (OMOs) and also announced plans to do further OMOs of INR 400 bn during Nov18. The overnight rate ended flat at 6.6% for the month of Oct18.

INR depreciated by 2% against USD during the month to close at 74 on the back of RBI keeping policy rate unchanged and continuing net capital outflows. Net FII debt flows recorded an outflow of USD 1.3 bn during the month, marginally lower than the outflow of USD 1.4 bn in September 2018. In the first seven months of FY19, net FII debt outflows aggregated to USD 8.3 bn as against inflows of US$ 18.1 bn during the corresponding period last year.

September trade deficit widened to US$ 14 bn from USD 9.4 bn a year ago. The overall imports increased by 10.5% YoY primarily on account of sharp increase in crude import by ~34%. On the other hand, overall exports declined by ~2% due to de-growth in exports of agriculture products (-11%) and gold, silver & gems & jewellery (-21.7%). This was partially offset by increase in exports of petroleum and related products (+27%).

The annual rate of retail inflation, CPI remained largely stable at 3.8% YoY in September 2018, compared to 3.7% in August 2018. This was primarily driven by lower food prices and favourable base effect. However, the Core CPI (excl. food, fuel, transportation & housing) declined marginally and continued to remain at elevated level of 5.3% in September 2018 (Aug’18: 5.5%). This was on account of continued high inflation in tobacco, clothing and services.

GST collections in October 2018 (for month of September 2018) increased to ~INR 1,007 bn from ~INR 944 bn a month ago. Average monthly collection in FYTD19 remained ~7% higher than FY18’s average monthly collection (Aug’17 to Mar’18). During first seven months of FY19, average monthly collection of GST stood at ~INR 970 bn, lower than FY19’s budgeted estimate of ~INR 1,100 bn.

OutlookThe Monetary Policy Committee (MPC) minutes released for its meeting held in

October 2018 were in line with expectations and reinforced the view that next rate hike will be data dependent. However, given the elevated crude oil prices and the consequent pressure on currency, we prefer to maintain a cautious stance. Additionally, the impact of higher MSPs on food prices, credit growth outpacing deposit growth, fiscal pressures and rising US bond yields are other factors which need to be closely monitored.

In our opinion, the front end of the yield curve continues to offer better risk adjusted return than the longer end and hence, we continue to recommend investment in short to medium duration debt funds.

Market Review

Source for various data points: Bloomberg, Bloomberg Consensus, Reuters, NSDL.


CONTENTS

PAgE NO.

WEALTH CREATION

HDFc Equity Fund ................................................................................ 05

HDFc capital Builder Value Fund .......................................................... 06

HDFc Top 100 Fund ............................................................................. 07

HDFc Mid-cap Opportunities Fund ...................................................... 08

HDFc Small cap Fund .......................................................................... 09

HDFc Growth Opportunities Fund ........................................................ 10

HDFc Focused 30 Fund ........................................................................ 11

HDFc Infrastructure Fund ..................................................................... 12

HDFc Balanced Advantage Fund .......................................................... 13-14

HDFc Hybrid Equity Fund ..................................................................... 15-16

HDFc Multi-Asset Fund ........................................................................ 17-18

HDFc NIFTY 50 ETF .............................................................................. 19

HDFc Index Fund - NIFTY 50 Plan ........................................................ 20

HDFc SENSEx ETF ................................................................................ 21

HDFc Index Fund - SeNSex Plan .......................................................... 22

TAx SAVINgS

HDFc Taxsaver ..................................................................................... 23

CHILDREn'S FUTURE

HDFc children’s Gift Fund ................................................................... 24-25

RETIREMENT PLANNINg

HDFc Retirement Savings Fund - Equity Plan ........................................ 26

HDFc Retirement Savings Fund - Hybrid Equity Plan ............................ 27

HDFc Retirement Savings Fund - Hybrid Debt Plan ............................... 28

PAgE NO.

REgULAR INCOME

HDFc Equity Savings Fund ................................................................... 29-30

HDFc Hybrid Debt Fund ....................................................................... 31-32

HDFc Arbitrage Fund ........................................................................... 33-34

HDFc corporate Bond Fund ................................................................. 35

HDFc credit Risk Debt Fund ................................................................. 36-37

HDFc Banking and PSU Debt Fund ....................................................... 38

HDFc Gilt Fund .................................................................................... 39

HDFc Dynamic Debt Fund .................................................................... 40

HDFc Income Fund .............................................................................. 41

HDFc Medium Term Debt Fund ............................................................ 42

HDFc Short Term Debt Fund ................................................................. 43

HDFc Low Duration Fund ..................................................................... 44

HDFc Money Market Fund ................................................................... 45

HDFc Floating Rate Debt Fund ............................................................. 46

HDFc Ultra Short Term Fund ................................................................. 47

HDFc Liquid Fund ................................................................................ 48-49

HDFc Overnight Fund .......................................................................... 50

Performance details of schemes managed by respective fund managers ............................................... 51

Scheme performance summary - Regular Plans ................................... 52-56

Scheme performance summary - Direct Plans ...................................... 57-65

Performance of category I - FPI Portfolio ............................................. 65

Dividend History ................................................................................. 66-67

Disclaimer ........................................................................................... 68

GoAL BASED SoLUTIonS

WEALTH CREATION These schemes aim to increase wealth over the long term by investing predominantly in equity instruments and are suitable for investors with high risk appetite and relatively higher investment horizon.

TAx SAVINgS This scheme is eligible to provide tax deduction under Section 80c and also aims to increase wealth over the long term. This is an ideal solution for investors who would like to create wealth and save tax.

CHILDREn'S FUTURE This scheme aims to help you achieve your specific financial goal of planning for child’s future expenses like higher education, etc.

RETIREMENT PLANNINg

These schemes aim to help you achieve your specific financial goal of retirement planning.

REgULAR INCOME These schemes aim to provide stable income and are ideal for investors with low to medium risk appetite who wish to receive regular income to meet their periodic expenses.

Disclaimer: Investors are requested to note that the above goal based solutions should not be construed as financial planning solution/recommendation by the Fund/AMc. It does not in any manner, indicate or imply either the quality of any particular Scheme or guarantee any specific performance/returns. Such solutions must be tailored to investor’s individual situation and objectives and therefore, investors should consult their financial advisors to ascertain whether a product is suitable for them.


l INVESTMENT OBjECTIVETo generate capital appreciation / income from a portfolio, predominantly invested in equity & equity related instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Multi-cap Fund

l FUnD MAnAGER § ¥

Prashant jain (since June 20, 03) Total experience: Over 27 years

l InCEPTIon DATE (Date of Allotment)January 1, 1995

NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 611.252Regular Plan - Dividend Option 51.612Direct Plan - Growth Option 640.620Direct Plan - Dividend Option 54.873

ASSETS UnDER MAnAGEMEnT (`) IN CROREAs on October 31, 2018 20,133.27Average for Month of October, 2018 19,572.84

l qUAnTITATIVE DATAPortfolio Turnover Ratio (Last 1 year) 27.15%Risk Ration Standard Deviation 5.363%n Beta 1.140n Sharpe Ratio* 0.082computed for the 3-yr period ended October 31, 2018. Based on month-end NAV. * Risk free rate: 6.60% (Source: FIMMDA MIBOR)

TOTAL ExPENSE RATIO (As on October 31, 2018)Including Additional expenses and Goods and Service Tax on Management FeesRegular: 1.99% Direct: 1.19%

l #BEnCHMARK InDEX: NIFTY 500 (Total Returns Index)l ##ADDL. BEnCHMARK InDEX: NIFTY 50 (Total Returns Index)

l EXIT LoADl In respect of each purchase / switch-in of Units, an exit Load

of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment.

l No exit Load is payable if Units are redeemed / switched-out after 1 year from the date of allotment.

For further details, please refer to para ‘Exit Load’ on Pg 51.

l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility.

l MINIMUM APPLICATION AMOUNTPurchase : ` 5,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.

l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days.§ Date of migration from Zurich India Mutual Fund (close of business hours - June 19, 03). ¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).

SIP PERFORMANCE^ - Regular Plan - Growth OptionSince Inception

SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,860.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) 66,494.16 6,525.46 2,470.53 785.25 417.15 117.11 Returns (Annualised) (%) 21.75 15.65 13.83 10.70 9.81 -4.43 Benchmark Returns (Annualised) (%) # 14.54 12.50 12.09 10.05 8.29 -10.19 Addl. Benchmark Ret. (Annualised) (%) ## 13.33 12.26 11.41 9.67 9.78 -3.97

Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return) for Regular Plan - Growth Option. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital.

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of October 31, 2018 unless otherwise specified.

PERFORMANCE^ - Regular Plan - Growth OptionDate Period Scheme

Returns (%)

Benchmark Returns

(%)#

Additional Benchmark

Returns (%) ##

Value of ` 10,000 investedScheme (`) Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year -2.79 -3.17 1.91 9,721 9,683 10,191Oct 30, 15 Last 3 Years 10.66 10.39 10.22 13,560 13,459 13,396Oct 31, 13 Last 5 Years 16.31 14.04 11.89 21,293 19,297 17,546Jan 01, 95 Since Inception 18.82 11.34 10.78 611,252 129,696 114,973

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by Prashant Jain, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57. As TRI data is not available since inception of the scheme, additional benchmark performance is calculated using composite cAGR of NIFTY 50 PRI values from Jan 02, 95 (data for Jan 01, 95 is not available) to June 29, 99 and TRI values since June 30, 99.

This product is suitable for investors who are seeking ~

l to generate long-term capital appreciation / income

l investment predominantly in equity & equity related instruments

Riskometer

Investors understand that their principal will be at moderately high risk

~ Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

PORTFOLIO Company Industry+ % to NAV

EqUITY & EqUITY RELATED• IcIcI Bank Ltd. Banks 10.76• State Bank of India Banks 9.79• Infosys Ltd. Software 9.09• Larsen & Toubro Ltd. construction Project 8.31• Reliance Industries Ltd. Petroleum Products 5.58• HDFc Bank Ltd. Banks 4.32• ITc Ltd. consumer Non Durables 3.92• NTPc Ltd. Power 3.38• GAIL (India) Ltd. Gas 2.89• Power Grid corporation of

India Ltd. Power 2.81Tata consultancy Services Ltd. Software 2.68Bank of Baroda Banks 2.52Aurobindo Pharma Ltd. Pharmaceuticals 2.40Axis Bank Ltd. Banks 2.39Tata Steel Ltd. Ferrous Metals 2.28cESc Ltd. Power 2.02Vedanta Ltd. Non - Ferrous Metals 1.87cipla Ltd. Pharmaceuticals 1.61Power Finance corporation Ltd. Finance 1.58Tata chemicals Ltd. chemicals 1.50Housing Development Finance corporation Ltd.£ Finance 1.43Balkrishna Industries Ltd. Auto Ancillaries 1.29canara Bank Banks 1.23Rural electrification corporation Ltd. Finance 1.21Bharat Petroleum corporation Ltd. Petroleum Products 1.21Kalpataru Power Transmission Ltd. Power 1.12L&T Technology Services Ltd. Software 0.94Siemens Ltd. Industrial capital Goods 0.93Oracle Financial Services Software Ltd. Software 0.91container corporation of India Ltd. Transportation 0.90Praj Industries Ltd. Industrial capital Goods 0.88Punjab National Bank Banks 0.87UPL Ltd. Pesticides 0.79cG Power & Industrial Solutions Ltd.

Industrial capital Goods 0.61

coal India Ltd. Minerals/Mining 0.55

Company Industry+ % to NAVTime Technoplast Ltd. Industrial Products 0.54BeML Ltd. Industrial capital Goods 0.53Simplex Infrastructures Ltd. construction 0.52Bharat Dynamics Limited Industrial capital Goods 0.50Oriental Bank of commerce Banks 0.33Reliance Nippon Life Asset Management Ltd. Finance 0.22Ramco Systems Ltd. Software 0.21RP-SG Business Process Services Software 0.18RP-SG Retail Ltd Retailing 0.17Hindustan construction company Ltd. construction Project 0.15Avenue Supermarts Ltd. Retailing 0.06Sub Total 99.98Preference SharesZee entertainment enterprises Ltd. Media & entertainment 0.02Sub Total 0.02Total 100.00cash, cash Equivalents and Net current Assets @

grand Total 100.00

• Top Ten Holdings, £ co-sponsor, @ Less than 0.01%

0.020.230.520.540.550.790.901.291.501.872.282.893.453.924.014.44

6.798.469.33

14.0132.21

0 5 10 15 20 25 30 35

Media & EntertainmentRetailing

ConstructionIndustrial Products

Minerals/MiningPesticides

TransportationAuto Ancillaries

ChemicalsNon - Ferrous Metals

Ferrous MetalsGas

Industrial Capital GoodsConsumer Non Durables

PharmaceuticalsFinance

Petroleum ProductsConstruction Project

PowerSoftware

Banks

Industry Allocation of Equity Holding (% of Net Assets)

^Past performance may or may not be sustained in the future. Load is not taken into consideration for computation of performance.

HDFC Equity Fund (An open ended equity scheme investing across large cap, mid cap & small cap stocks)


This is a simple and performing scheme which is eligible for distribution by new cadre of distributors.

l INVESTMENT OBjECTIVETo achieve capital appreciation/income in the long term by primarily investing in undervalued stocks.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Value Fund

l FUnD MAnAGER ¥

Miten Lathia (since Mar 20, 17) Total experience: Over 18 years(The scheme was co-managed by Miten Lathia with chirag Setalvad from May 10, 12 to March 19, 17)

l InCEPTIon DATE (Date of Allotment)February 1, 1994






l EXIT LoADl In respect of each purchase / switch-in of Units, an exit

Load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment.





l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days.¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year


Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return). The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital.


Returns (%)

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 invested

Scheme (`) Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -5.55 -3.17 1.91 9,445 9,683 10,191Oct 30, 15 Last 3 Years 10.56 10.39 10.22 13,521 13,459 13,396Oct 31, 13 Last 5 Years 17.05 14.04 11.89 21,981 19,297 17,546Feb 01, 94 Since Inception 14.26 10.63 10.19 271,119 122,032 110,506

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by Miten Lathia, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 63. As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite cAGR of NIFTY 500 PRI values from Feb 01, 94 to Dec 31, 94 and TRI values since Jan 01, 95. As TRI data is not available since inception of the scheme, additional benchmark performance is calculated using composite cAGR of NIFTY 50 PRI values from Feb 01, 94 to June 29, 99 and TRI values since June 30, 99.



l to generate long-term capital appreciation / income in the long term

l investment primarily in undervalued stocks

Riskometer




EqUITY & EqUITY RELATED• HDFc Bank Ltd. Banks 8.82• ITc Ltd. consumer Non Durables 5.37• Reliance Industries Ltd. Petroleum Products 4.46• Infosys Ltd. Software 3.62• Bharat Petroleum

corporation Ltd. Petroleum Products 3.06• GAIL (India) Ltd. Gas 3.03• Indusind Bank Ltd. Banks 3.02• Axis Bank Ltd. Banks 2.99• IcIcI Bank Ltd. Banks 2.98• Housing Development

Finance corporation Ltd.£ Finance 2.88Vedanta Ltd. Non - Ferrous Metals 2.83Larsen & Toubro Ltd. construction Project 2.78Ambuja cements Ltd. cement 2.26Yes Bank Ltd. Banks 2.12cipla Ltd. Pharmaceuticals 2.04NTPc Ltd. Power 2.00Kotak Mahindra Bank Ltd. Banks 1.78Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.75Aurobindo Pharma Ltd. Pharmaceuticals 1.69NHPc Ltd. Power 1.52Tata Steel Ltd. Ferrous Metals 1.43State Bank of India Banks 1.36Persistent Systems Ltd. Software 1.30Wipro Ltd. Software 1.27Apollo Tyres Ltd. Auto Ancillaries 1.22General Insurance corporation of India Finance 1.16Bajaj corp Ltd. consumer Non Durables 1.16VRL Logistics Ltd. Transportation 1.08Inox Leisure Ltd. Media & entertainment 1.03Trent Ltd. Retailing 1.03Indostar capital Finance Ltd. Finance 1.03Max Financial Services Ltd. Finance 1.03Indoco Remedies Ltd. Pharmaceuticals 0.99chambal Fertilizers & chemicals Ltd. Fertilisers 0.98Gujarat Pipavav Port Ltd. Transportation 0.97Schaeffler India Ltd. Industrial Products 0.95Advanced enzyme Technologies Ltd. consumer Non Durables 0.94Oracle Financial Services Software Ltd. Software 0.94Bharat Financial Inclusion Ltd. Finance 0.92Tata chemicals Ltd. chemicals 0.90Zee entertainment enterprises Ltd. Media & entertainment 0.90Newgen Software Technologies Ltd. Software 0.87Solar Industries India Ltd. chemicals 0.86GlaxoSmithkline consumer Healthcare Ltd. consumer Non Durables 0.82S H Kelkar and company Ltd. consumer Non Durables 0.80Ashoka Buildcon Ltd. construction Project 0.80

Company Industry+ % to NAVcoal India Ltd. Minerals/Mining 0.78Voltas Ltd. construction Project 0.74Siti Networks Ltd. Media & entertainment 0.68Repco Home Finance Ltd. Finance 0.64Spicejet Ltd. Transportation 0.58Bharti Airtel Ltd. Telecom - Services 0.55cochin Shipyard Ltd. Industrial capital Goods 0.52entertainment Network (India) Ltd. Media & entertainment 0.52Wonderla Holidays Ltd. Hotels, Resorts & Other

Recreational Activities 0.49Sadbhav Infrastructure Project Ltd.(corporate Guarantee of Sadbhav engineering Ltd.) construction Project 0.46Dilip Buildcon Ltd. construction 0.46Blue Star Ltd. consumer Durables 0.44Bharat Dynamics Limited Industrial capital Goods 0.42Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.30Matrimony.com Ltd. Services 0.23Bharat Heavy electricals Ltd. Industrial capital Goods 0.22Sub Total 95.77cash margin 0.11cash, cash Equivalents and Net current Assets 4.12grand Total 100.00• Top Ten Holdings, £ co-sponsor

0.230.440.460.490.550.780.950.981.031.161.221.431.762.262.632.833.033.133.524.78

6.777.527.668.009.09

23.07

0 5 10 15 20 25

ServicesConsumer Durables

ConstructionHotels, Resorts & Other Recreational Activities

Telecom - ServicesMinerals/Mining

Industrial ProductsFertilisersRetailing

Industrial Capital GoodsAuto AncillariesFerrous Metals

ChemicalsCement

TransportationNon - Ferrous Metals

GasMedia & Entertainment

PowerConstruction Project

PharmaceuticalsPetroleum Products

FinanceSoftware

Consumer Non DurablesBanks



(An open ended equity scheme following a value investment strategy)HDFC Capital Builder Value Fund



l INVESTMENT OBjECTIVETo provide long-term capital appreciation/income by investing predominantly in Large-cap companies.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Large-cap Fund


Prashant jain (since June 20, 03) Total experience: Over 27 years

l InCEPTIon DATE (Date of Allotment)October 11, 1996





l #BEnCHMARK InDEX: NIFTY 100 (Total Returns Index)

l ##ADDL. BEnCHMARK InDEX: S&P BSe SeNSex (Total Returns Index)







l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days.

l SEgMENT-WISE BREAk-UP oF EqUITY HoLDInG (% oF nET ASSETS)Large cap 89.74%Mid cap 9.71%Small cap 0.23%

§ Date of migration from Zurich India Mutual Fund (close of business hours - June 19, 03).¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


l to generate long-term capital appreciation / incomel investment predominantly in Large-cap companies

Riskometer




SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,650.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) $$ 35,189.41 6,252.72 2,355.39 784.03 420.09 118.95 Returns (Annualised) (%) $$ 19.73 15.16 12.94 10.64 10.29 -1.62 Benchmark Returns (Annualised) (%) # N.A. 12.84 12.13 10.07 9.42 -6.06 Addl. Benchmark Ret. (Annualised) (%) ## 14.11 12.58 11.66 10.01 10.92 -1.80



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`)

$$Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year -1.57 0.09 4.91 9,843 10,009 10,491Oct 30, 15 Last 3 Years 11.17 10.53 10.33 13,746 13,511 13,436Oct 31, 13 Last 5 Years 14.80 12.91 11.75 19,948 18,360 17,430Oct 11, 96 Since Inception 19.92 N.A. 13.29 550,376 N.A. 157,003

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). For performance of other schemes managed by Prashant Jain, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.


EqUITY & EqUITY RELATED• IcIcI Bank Ltd. Banks 8.74• State Bank of India Banks 8.23• Infosys Ltd. Software 7.59• Reliance Industries Ltd. Petroleum Products 7.43• HDFc Bank Ltd. Banks 6.34• Larsen & Toubro Ltd. construction Project 5.97• ITc Ltd. consumer Non Durables 5.39• NTPc Ltd. Power 4.16• Tata consultancy Services Ltd. Software 3.50• Axis Bank Ltd. Banks 3.31Housing Development Finance corporation Ltd. £ Finance 2.82Power Grid corporation of India Ltd. Power 2.72coal India Ltd. Minerals/Mining 2.18Aurobindo Pharma Ltd. Pharmaceuticals 1.96Hindustan Petroleum corporation Ltd. Petroleum Products 1.93Tata Steel Ltd. Ferrous Metals 1.70Power Finance corporation Ltd. Finance 1.69GAIL (India) Ltd. Gas 1.66Tata chemicals Ltd. chemicals 1.51Vedanta Ltd. Non - Ferrous Metals 1.48cESc Ltd. Power 1.33cipla Ltd. Pharmaceuticals 1.25Rural electrification corporation Ltd. Finance 1.20canara Bank Banks 1.17Bank of Baroda Banks 1.07Bharat Petroleum corporation Ltd. Petroleum Products 1.00Oil & Natural Gas corporation Ltd. Oil 0.99UPL Ltd. Pesticides 0.84Bharat electronics Ltd. Industrial capital Goods 0.78Bank of India Banks 0.75HcL Technologies Ltd. Software 0.74Ambuja cements Ltd. cement 0.72Oracle Financial Services Software Ltd. Software 0.71ABB India Ltd. Industrial capital Goods 0.70Avenue Supermarts Ltd. Retailing 0.68Tech Mahindra Ltd. Software 0.67Wipro Ltd. Software 0.62Hindalco Industries Ltd. Non - Ferrous Metals 0.62Punjab National Bank Banks 0.53

Company Industry+ % to NAVcontainer corporation of India Ltd. Transportation 0.51Siemens Ltd. Industrial capital Goods 0.51Steel Authority of India Ltd. Ferrous Metals 0.51Union Bank of India Banks 0.50Indian Oil corporation Ltd. Petroleum Products 0.36NHPc Ltd. Power 0.30RP-SG Business Process Services Software 0.12RP-SG Retail Ltd Retailing 0.11Lupin Ltd. Pharmaceuticals 0.04LIc Housing Finance Ltd. Finance 0.04Sub Total 99.68Preference SharesZee entertainment enterprises Ltd. Media & entertainment 0.02Sub Total 0.02Total 99.70

cash, cash Equivalents and Net current Assets 0.30

grand Total 100.00

• Top Ten Holdings, £ co-sponsor

0.020.510.720.790.840.991.511.661.992.102.182.213.25

5.395.755.97

8.5110.72

13.9530.64

0 5 10 15 20 25 30 35

Media & EntertainmentTransportation

CementRetailing

PesticidesOil

ChemicalsGas

Industrial Capital GoodsNon - Ferrous Metals

Minerals/MiningFerrous Metals

PharmaceuticalsConsumer Non Durables

FinanceConstruction Project

PowerPetroleum Products

SoftwareBanks



HDFC Top 100 Fund (An open ended equity scheme predominantly investing in large cap stocks)


l INVESTMENT OBjECTIVETo provide long-term capital appreciation/income by investing predominantly in Mid-cap companies.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Mid cap Fund

l FUnD MAnAGER ¥

Chirag Setalvad (since June 25, 07) Total experience: Over 21 years

l InCEPTIon DATE (Date of Allotment)June 25, 2007





l #BEnCHMARK InDEX: NIFTY Midcap 100 (Total Returns Index) l ##ADDL. BEnCHMARK InDEX: NIFTY 50 (Total Returns Index)








l SEgMENT-WISE BREAk-UP oF EqUITY HoLDInG (% oF nET ASSETS)Large cap 1.71%Mid cap 64.98%Small cap 27.43%¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 1,370.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) 4,151.03 3,282.22 821.25 392.56 108.15 Returns (Annualised) (%) 18.19 19.11 12.51 5.71 -17.77 Benchmark Returns (Annualised) (%) # 13.33 14.27 11.24 5.03 -18.90 Addl. Benchmark Ret. (Annualised) (%) ## 10.68 11.41 9.67 9.78 -3.97



Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year -8.71 -11.31 1.91 9,129 8,869 10,191Oct 30, 15 Last 3 Years 11.06 10.33 10.22 13,705 13,436 13,396Oct 31, 13 Last 5 Years 22.89 19.27 11.89 28,046 24,151 17,546Jun 25, 07 Since Inception 15.50 11.44 9.46 51,386 34,208 27,910

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by chirag Setalvad, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.




l investment predominantly in Mid-cap companies

Riskometer



PORTFOLIO Company Industry+ / Rating % to NAV

EqUITY & EqUITY RELATED• Balkrishna Industries Ltd. Auto Ancillaries 4.36• Sundram Fasteners Ltd. Auto Ancillaries 4.01• cholamandalam Investment

and Finance company Ltd. Finance 3.88• Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.93• Voltas Ltd. construction Project 2.92• city Union Bank Ltd. Banks 2.78• Aarti Industries Ltd. chemicals 2.76• Exide Industries Ltd. Auto Ancillaries 2.66• RBL Bank Ltd. Banks 2.64• Tata chemicals Ltd. chemicals 2.62The Indian Hotels company Ltd. Hotels, Resorts & Other

Recreational Activities 2.50Hexaware Technologies Ltd. Software 2.29AIA engineering Ltd. Industrial Products 2.10Arvind Ltd. Textile Products 2.10Apollo Tyres Ltd. Auto Ancillaries 2.05Trent Ltd. Retailing 2.03crompton Greaves consumer electricals Ltd. consumer Durables 1.99carborundum Universal Ltd. Industrial Products 1.87SKF India Ltd. Industrial Products 1.87TI Financial Holdings Ltd. Finance 1.83Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.79MRF Ltd. Auto Ancillaries 1.71Max Financial Services Ltd. Finance 1.70Indian Bank Banks 1.69The Federal Bank Ltd. Banks 1.68VST Industries Ltd. consumer Non Durables 1.68Divi's Laboratories Ltd. Pharmaceuticals 1.61Whirlpool of India Ltd. consumer Durables 1.54Atul Ltd. chemicals 1.44Edelweiss Financial Services Ltd. Finance 1.43KEc International Ltd. construction Project 1.30IPcA Laboratories Ltd. Pharmaceuticals 1.29NIIT Technologies Ltd. Software 1.24Tube Investments of India Ltd. Auto Ancillaries 1.16Larsen & Toubro Infotech Ltd. Software 1.15Supreme Industries Ltd. Industrial Products 1.14Reliance Nippon Life Asset Management Ltd. Finance 1.04Solar Industries India Ltd. chemicals 1.02Jagran Prakashan Ltd. Media & entertainment 0.94Schaeffler India Ltd. Industrial Products 0.91Karur Vysya Bank Ltd. Banks 0.90KNR constructions Ltd. construction 0.86Navneet education Ltd. Media & entertainment 0.85Greenlam Industries Ltd. consumer Durables 0.83Dilip Buildcon Ltd. construction 0.82Oil India Ltd. Oil 0.80Redington (India) Ltd. Transportation 0.76Blue Star Ltd. consumer Durables 0.76Punjab National Bank Banks 0.73Delta corp Ltd. Hotels, Resorts & Other

Recreational Activities 0.72

Company Industry+ / Rating % to NAVUnion Bank of India Banks 0.68Grindwell Norton Ltd. Industrial Products 0.64cummins India Ltd. Industrial Products 0.61Greenply Industries Ltd. consumer Durables 0.53Bata India Ltd. consumer Durables 0.49Symphony Ltd. consumer Durables 0.47Vesuvius India Ltd. Industrial Products 0.46Gujarat Fluorochemicals Ltd. Industrial capital Goods 0.44Persistent Systems Ltd. Software 0.43Thermax Ltd. Industrial capital Goods 0.42Mahindra Holidays & Resorts India Ltd.

Hotels, Resorts & Other Recreational Activities 0.40

Vardhman Textiles Ltd. Textiles - cotton 0.36Strides Pharma Science Ltd. Pharmaceuticals 0.24Dhanuka Agritech Ltd. Pesticides 0.19capital First Ltd. Finance 0.10Aurobindo Pharma Ltd. Pharmaceuticals @Aditya Birla Nuvo Ltd. Services @Sub Total 94.14Preference SharesZee entertainment enterprises Ltd. Media & entertainment 0.01Sub Total 0.01Total 94.15cash, cash Equivalents and Net current Assets 5.85

grand Total 100.00• Top Ten Holdings, @ Less than 0.01%

0.190.360.760.800.861.681.681.802.032.10

3.624.225.116.617.847.86

9.609.9811.10

15.95

0 2 4 6 8 1012141618

PesticidesTextiles - Cotton

TransportationOil


ConstructionMedia & Entertainment

RetailingTextile Products

Hotels, Resorts & Other Recreational ActivitiesConstruction Project

SoftwareConsumer Durables

ChemicalsPharmaceuticals

Industrial ProductsFinance

BanksAuto Ancillaries



(An open ended equity scheme predominantly investing in mid cap stocks)HDFC Mid Cap Opportunities Fund


l INVESTMENT OBjECTIVETo provide long-term capital appreciation /income by investing predominantly in Small-cap companies.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Small cap Fund


Chirag Setalvad (since June 28, 14) Total experience: Over 21 years

l InCEPTIon DATE (Date of Allotment)April 3, 2008





l #BEnCHMARK InDEX: NIFTY Smallcap 100 (Total Returns Index)l ##ADDL. BEnCHMARK InDEX: NIFTY 50 (Total Returns Index)








l SEgMENT-WISE BREAk-UP oF EqUITY HoLDInG (% oF nET ASSETS)Large cap 4.51%Mid cap 7.16%Small cap 73.35%§ Date of migration from Morgan Stanley Mutual Fund (close

of business hours - June 27, 14)¥ Dedicated Fund Manager for Overseas Investments:

Mr Rakesh Vyas (Total experience: Over 14 years).


SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 1,270.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) 3,303.59 2,992.71 909.45 444.83 112.07 Returns (Annualised) (%) 17.10 17.40 16.65 14.24 -12.01 Benchmark Returns (Annualised) (%) # 9.57 9.95 4.33 -4.33 -39.14 Addl. Benchmark Ret. (Annualised) (%) ## 11.20 11.41 9.67 9.78 -3.97



Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 0.42 -28.39 1.91 10,042 7,161 10,191Oct 30, 15 Last 3 Years 16.63 5.17 10.22 15,877 11,637 13,396Oct 31, 13 Last 5 Years 20.73 15.80 11.89 25,664 20,831 17,546Apr 03, 08 Since Inception 14.45 6.15 8.94 41,735 18,813 24,754

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by chirag Setalvad, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.




l investment predominantly in Small-cap companies

Riskometer



PORTFOLIO

Company Industry+ % to NAV

EqUITY & EqUITY RELATED• Aurobindo Pharma Ltd. Pharmaceuticals 4.51• NIIT Technologies Ltd. Software 4.11• chambal Fertilizers &

chemicals Ltd. Fertilisers 3.38• Sharda cropchem Ltd. Pesticides 3.28• Sonata Software Ltd. Software 2.97• Indian Bank Banks 2.73• Firstsource Solutions Ltd Software 2.53• TV Today Network Ltd. Media & entertainment 2.42• SKF India Ltd. Industrial Products 2.37• Vijaya Bank Banks 2.18Vardhman Textiles Ltd. Textiles - cotton 2.09KEc International Ltd. construction Project 2.07Atul Ltd. chemicals 1.96Inox Leisure Ltd. Media & entertainment 1.91Gujarat Fluorochemicals Ltd. Industrial capital Goods 1.91eIH Ltd. Hotels, Resorts & Other

Recreational Activities 1.88Nilkamal Ltd. Industrial Products 1.88carborundum Universal Ltd. Industrial Products 1.86Tata Metaliks Ltd. Ferrous Metals 1.82Great eastern Shipping company Ltd. Transportation 1.80Advanced enzyme Technologies Ltd.

consumer Non Durables 1.56

Power Mech Projects Ltd. construction Project 1.47Finolex Industries Ltd. Industrial Products 1.46The Indian Hotels company Ltd. Hotels, Resorts & Other

Recreational Activities 1.41Mcleod Russel India Ltd. consumer Non Durables 1.29KeI Industries Ltd. Industrial Products 1.26NRB Bearing Ltd. Industrial Products 1.22Tube Investments of India Ltd. Auto Ancillaries 1.18Kalpataru Power Transmission Ltd. Power 1.18Orient Refractories Ltd. Industrial Products 1.17Shaily engineering Plastics Ltd. Industrial capital Goods 1.11LG Balakrishnan & Bros Ltd. Auto Ancillaries 1.10Oriental carbon & chemicals Ltd. chemicals 1.08PNc Infratech Ltd. construction 1.04Redington (India) Ltd. Transportation 1.04eclerx Services Ltd. Software 1.00Vesuvius India Ltd. Industrial Products 0.83Lemon Tree Hotels Ltd. Hotels, Resorts & Other

Recreational Activities 0.80Atul Auto Ltd. Auto 0.78Oriental Bank of commerce Banks 0.78Apar Industries Ltd. Industrial capital Goods 0.74GNA Axles Ltd. Auto Ancillaries 0.72Jagran Prakashan Ltd. Media & entertainment 0.71Greenlam Industries Ltd. consumer Durables 0.69Merck Ltd. Pharmaceuticals 0.65The Federal Bank Ltd. Banks 0.62Fine Organic Industries Limited chemicals 0.57Kirloskar Ferrous Industries Ltd Industrial capital Goods 0.55Goodyear India Ltd. Auto Ancillaries 0.53TI Financial Holdings Ltd. Finance 0.51Insecticides (India) Ltd. Pesticides 0.51

Company Industry+ % to NAVSadbhav engineering Ltd. construction Project 0.51Allahabad Bank Banks 0.50IFGL Refractories Ltd. Industrial Products 0.47Taj GVK Hotels & Resorts Ltd. Hotels, Resorts & Other

Recreational Activities 0.40Swaraj engines Ltd. Industrial Products 0.40everest Industries Ltd. cement 0.37V.S.T Tillers Tractors Ltd. Auto 0.36D.B.corp Ltd. Media & entertainment 0.36Unichem Laboratories Ltd. Pharmaceuticals 0.28Banco Products (I) Ltd. Auto Ancillaries 0.26Amber enterprises India Ltd. consumer Durables 0.23Garware Wall Ropes Ltd. Textile Products 0.23Time Technoplast Ltd. Industrial Products 0.22Greenply Industries Ltd. consumer Durables 0.22Sarla Performance Fibers Ltd. Textiles - Synthetic 0.20Titagarh Wagons Ltd. Industrial capital Goods 0.19cG Power & Industrial Solutions Ltd. Industrial capital Goods 0.19Mold-Tek Packaging Ltd. Industrial Products 0.15Gabriel India Ltd. Auto Ancillaries 0.15corporation Bank Banks 0.12Yes Bank Ltd. Banks @Sub Total 85.03cash margin 0.35cash, cash Equivalents and Net current Assets 14.62

grand Total 100.00

• Top Ten Holdings, @ Less than 0.01%

0.200.230.370.511.041.141.141.181.822.092.842.853.383.613.793.944.054.494.695.405.44

6.9310.61

13.29

0 2 4 6 8 10 12 14Textiles - Synthetic

Textile ProductsCementFinance

ConstructionConsumer Durables

AutoPower

Ferrous MetalsTextiles - Cotton

TransportationConsumer Non Durables

FertilisersChemicalsPesticides

Auto AncillariesConstruction Project

Hotels, Resorts & Other Recreational ActivitiesIndustrial Capital GoodsMedia & Entertainment

PharmaceuticalsBanks

SoftwareIndustrial Products



(An open ended equity scheme predominantly investing in small cap stocks)HDFC Small Cap Fund



EqUITY & EqUITY RELATED• NTPc Ltd. Power 8.58• State Bank of India Banks 8.15• Infosys Ltd. Software 8.06• IcIcI Bank Ltd. Banks 7.00• ITc Ltd. consumer Non Durables 5.57• GAIL (India) Ltd. Gas 4.15• Reliance Industries Ltd. Petroleum Products 3.25• HDFc Bank Ltd. Banks 2.93• Bharat Petroleum

corporation Ltd. Petroleum Products 2.48• The Indian Hotels company Ltd. Hotels, Resorts & Other

Recreational Activities 2.40Tata chemicals Ltd. chemicals 1.94Tata Motors Ltd. DVR Auto 1.88NHPc Ltd. Power 1.87Blue Dart express Ltd. Transportation 1.86Vedanta Ltd. Non - Ferrous Metals 1.82Tata Global Beverages Ltd. consumer Non Durables 1.81Max Financial Services Ltd. Finance 1.74Apollo Tyres Ltd. Auto Ancillaries 1.63Prestige estates Projects Ltd. construction 1.63Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.60GlaxoSmithkline consumer Healthcare Ltd.


Oil India Ltd. Oil 1.55exide Industries Ltd. Auto Ancillaries 1.54Divi's Laboratories Ltd. Pharmaceuticals 1.54castrol India Ltd. Petroleum Products 1.46Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.37Info edge (India) Ltd. Software 1.31Hindustan Petroleum corporation Ltd. Petroleum Products 1.26Trent Ltd. Retailing 1.25Indraprastha Gas Ltd. Gas 1.11engineers India Ltd. construction Project 1.10Gujarat State Petronet Ltd. Gas 1.05Kajaria ceramics Ltd. construction 1.02Reliance Power Ltd. Power 1.01Solar Industries India Ltd. chemicals 0.96V-Guard Industries Ltd. Industrial capital Goods 0.87canara Bank Banks 0.83cESc Ltd. Power 0.81Mahanagar Gas Ltd. Gas 0.78Power Grid corporation of India Ltd. Power 0.77


NLc India Ltd. Power 0.73Reliance Nippon Life Asset Management Ltd. Finance 0.73NBcc (India) Ltd. construction 0.59Dilip Buildcon Ltd. construction 0.57Indian Bank Banks 0.49Shriram Transport Finance company Ltd. Finance 0.48The Federal Bank Ltd. Banks 0.48Tata Steel Ltd. Ferrous Metals 0.46RBL Bank Ltd. Banks 0.22Larsen & Toubro Ltd. construction Project 0.16Yes Bank Ltd. Banks 0.16TV18 Broadcast Ltd. Media & entertainment 0.09RP-SG Business Process Services Software 0.07RP-SG Retail Ltd Retailing 0.07Sub Total 98.82cash, cash Equivalents and Net current Assets 1.18grand Total 100.00

• Top Ten Holdings

l INVESTMENT OBjECTIVETo generate long term capital appreciation/income from a portfolio, predominantly invested in equity and equity related instruments. There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Large & Mid cap Fund


Vinay kulkarni (since June 28, 14) Total experience: Over 29 years




l qUAnTITATIVE DATAPortfolio Turnover Ratio (Last 1 year) 71.45%Risk Ration Standard Deviation 4.430%n Beta 0.928n Sharpe Ratio* 0.029computed for the 3-yr period ended October 31, 2018. Based on month-end NAV. * Risk free rate: 6.60% (Source: FIMMDA MIBOR) TOTAL ExPENSE RATIO (As on October 31, 2018)

Including Additional expenses and Goods and Service Tax on Management FeesRegular: 2.41% Direct: 2.29%

l #BEnCHMARK InDEX: NIFTY Large Midcap 250 (Total Returns Index)l ##ADDL. BEnCHMARK InDEX: S&P BSe SeNSex (Total

Returns Index)




For further details, please refer to para ‘Exit Load’ on Pg 51.l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility.



l SEgMENT-WISE BREAk-UP oF EqUITY HoLDInG (% oF nET ASSETS)Large cap 57.17%Mid cap 36.02%Small cap 5.63%§ Date of migration from Morgan Stanley Mutual Fund (close of business hours - June 27, 14)¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 1,260.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) $$ 2,029.15 1,898.09 705.85 393.89 114.76 Returns (Annualised) (%) $$ 8.76 8.87 6.43 5.93 -7.99 Benchmark Returns (Annualised) (%) # 14.02 14.26 11.91 8.75 -12.11 Addl. Benchmark Ret. (Annualised) (%) ## 11.49 11.66 10.01 10.92 -1.80



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`) $$

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -4.47 -4.39 4.91 9,553 9,561 10,491Oct 30, 15 Last 3 Years 7.23 11.58 10.33 12,336 13,900 13,436Oct 31, 13 Last 5 Years 9.29 17.47 11.75 15,599 22,378 17,430Feb 18, 94 Since Inception 10.55 N.A. 10.82 119,215 N.A. 126,813

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. The Scheme, formerly a large cap fund, has undergone change in Fundamental attributes w.e.f. May 23, 2018 and become a Large and Mid-cap Fund. Accordingly, the Scheme’s benchmark has also changed. Hence, the past performance of the Scheme may not strictly be comparable with that of the new benchmark. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV. For performance of other schemes managed by Vinay Kulkarni, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57. As TRI data is not available since inception of the scheme, additional benchmark performance is calculated using composite cAGR of S&P BSE SeNSex PRI values from Feb 18, 94 to Aug 18, 96 and TRI values since Aug 19, 96.



l to generate long-term capital appreciation/income

l investment predominantly in Large cap and Mid cap companies

Riskometer



PORTFOLIO

0.090.460.871.261.321.551.821.861.882.402.902.953.173.814.51

7.098.458.969.44

13.7720.26

0 5 10 15 20 25

Media & EntertainmentFerrous Metals

Industrial Capital GoodsConstruction Project

RetailingOil

Non - Ferrous MetalsTransportation

AutoHotels, Resorts & Other Recreational Activities

ChemicalsFinance

Auto AncillariesConstruction

PharmaceuticalsGas

Petroleum ProductsConsumer Non Durables

SoftwarePowerBanks



(An open ended equity scheme investing in both large cap and mid cap stocks)HDFC Growth Opportunities Fund


Company Industry+ / Rating % to NAV

EqUITY & EqUITY RELATED

• Infosys Ltd. Software 8.29

• NTPc Ltd. Power 7.64

• IcIcI Bank Ltd. Banks 7.51

• State Bank of India Banks 7.30

• HDFc Bank Ltd. Banks 6.83

• ITc Ltd. consumer Non Durables 5.83

• Tata Steel Ltd. Ferrous Metals 5.56

• Vedanta Ltd. Non - Ferrous Metals 4.58

• NHPc Ltd. Power 4.00

• GAIL (India) Ltd. Gas 3.34

Hindustan Petroleum corporation Ltd. Petroleum Products 3.00

KEc International Ltd. construction Project 2.86

Elecon Engineering co. Ltd. Industrial capital Goods 2.84

Bharat electronics Ltd. Industrial capital Goods 2.78

Bharat Petroleum corporation Ltd. Petroleum Products 2.73

Titagarh Wagons Ltd. Industrial capital Goods 2.64

Wipro Ltd. Software 2.59

Gujarat Pipavav Port Ltd. Transportation 2.50

Kalpataru Power Transmission Ltd. Power 2.32

cESc Ltd. Power 2.17

cipla Ltd. Pharmaceuticals 2.12

PNc Infratech Ltd. construction 2.11

Axis Bank Ltd. Banks 1.95

Tata Motors Ltd. DVR Auto 1.75

Transport corporation of India Ltd. Transportation 1.31

Tata Motors Ltd. Auto 0.80


RP-SG Business Process Services Software 0.20

RP-SG Retail Ltd Retailing 0.18

Sub Total 97.73

DEBT & DEBT RELATED

CREDIT EXPoSURE

Au Small Finance Bank Ltd. FITcH - AA- 0.89

Sub Total 0.89


grand Total 100.00


l INVESTMENT OBjECTIVETo generate long term capital appreciation/income by investing in equity & equity related instruments of up to 30 companies.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Focused Fund

l FUnD MAnAGER ¥

Vinay kulkarni (since November 21, 06) Total experience: Over 29 years

l InCEPTIon DATE (Date of Allotment)September 17, 2004


ASSETS UnDER MAnAGEMEnT (`) IN CROREAs on October 31, 2018 447.59Average for Month of October, 2018 444.81











l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days.¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIP

Total Amount Invested (` ‘000) 1,700.00 1,200.00 600.00 360.00 120.00

Mkt Value As on October 31, 2018 (` ‘000) 4,008.66 2,124.13 723.53 378.20 108.86

Returns (Annualised) (%) 11.31 11.00 7.42 3.23 -16.74

Benchmark Returns (Annualised) (%) # 11.86 12.09 10.05 8.29 -10.19

Addl. Benchmark Ret. (Annualised) (%) ## 11.90 11.66 10.01 10.92 -1.80 Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return) for Regular Plan - Growth Option. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital.


Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Oct 31, 17 Last 1 Year -10.38 -3.17 4.91 8,962 9,683 10,491

Oct 30, 15 Last 3 Years 6.98 10.39 10.33 12,247 13,459 13,436

Oct 31, 13 Last 5 Years 14.95 14.04 11.75 20,075 19,297 17,430

Sep 17, 04 Since Inception 15.07 14.97 15.40 72,666 71,770 75,635Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by Vinay Kulkarni, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.



l to generate long-term capital appreciation / incomel investments in equity & equity related instruments of up to

30 companies

Riskometer



PORTFOLIO

0.18

2.11

2.12

2.55

2.86

3.34

3.81

4.58

5.56

5.73

5.83

8.26

11.08

16.13

23.59

0 5 10 15 20 25

Retailing

Construction

Pharmaceuticals

Auto

Construction Project

Gas

Transportation

Non - Ferrous Metals

Ferrous Metals

Petroleum Products

Consumer Non Durables

Industrial Capital Goods

Software

Power

Banks



An open ended equity scheme investing in maximum 30 stocks in large-cap, mid-cap and small-cap category (i.e. Multi-Cap)HDFC Focused 30 Fund


l INVESTMENT OBjECTIVETo seek long-term capital appreciation/income by investing predominantly in equity and equity related securities of companies engaged in or expected to benefit from the growth and development of infrastructure.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Thematic Fund

l FUnD MAnAGER ¥

Srinivas Rao Ravuri (since March 20, 17) Total experience: Over 23 years(The scheme was co-managed by Srinivas Rao Ravuri with Prashant Jain from inception till March 19, 17)

l InCEPTIon DATE (Date of Allotment)March 10, 2008



l qUAnTITATIVE DATAPortfolio Turnover Ratio (Last 1 year) 19.06%Risk Ration Standard Deviation 7.106%n Beta 1.417n Sharpe Ratio* -0.053computed for the 3-yr period ended October 31, 2018. Based on month-end NAV. * Risk free rate: 6.60% (Source: FIMMDA MIBOR)









l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days (Redemption is subject to completion of Lock-in Period, if applicable).¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


SIP5 year

SIP10 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 1,280.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) 1,719.88 1,578.58 594.07 317.90 95.84 Returns (Annualised) (%) 5.39 5.35 -0.39 -7.91 -35.00 Benchmark Returns (Annualised) (%) # 11.80 12.09 10.05 8.29 -10.19 Addl. Benchmark Ret. (Annualised) (%) ## 11.15 11.41 9.67 9.78 -3.97



Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year -29.53 -3.17 1.91 7,047 9,683 10,191Oct 30, 15 Last 3 Years -0.90 10.39 10.22 9,732 13,459 13,396Oct 31, 13 Last 5 Years 11.94 14.04 11.89 17,579 19,297 17,546Mar 10, 08 Since Inception 4.01 9.10 8.82 15,206 25,292 24,610

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by Srinivas Rao Ravuri, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.




l investment predominantly in equity and equity related securities of companies engaged in or expected to benefit from the growth and development of infrastructure

Riskometer

Investors understand that their principal will be at high risk


PORTFOLIO


EqUITY & EqUITY RELATED• IcIcI Bank Ltd. Banks 9.73• Larsen & Toubro Ltd. construction Project 9.57• State Bank of India Banks 9.30• JMc Projects (India) Ltd. construction 4.89• cESc Ltd. Power 4.78• NTPc Ltd. Power 4.48• Bank of Baroda Banks 3.63• Texmaco Rail & Engineering Ltd. Industrial capital Goods 3.39• Bharat Petroleum

corporation Ltd. Petroleum Products 2.96• canara Bank Banks 2.50centum Electronics Ltd. Industrial capital Goods 2.42Gujarat Pipavav Port Ltd. Transportation 2.28Dynamatic Technologies Ltd. Auto Ancillaries 2.12Astra Microwave Products Ltd. Telecom - equipment

And Accessories 2.07Vedanta Ltd. Non - Ferrous Metals 2.01Premier explosives Ltd. chemicals 1.95Tata Steel Ltd. Ferrous Metals 1.93Hindustan construction company Ltd. construction Project 1.88Dilip Buildcon Ltd. construction 1.78Siemens Ltd. Industrial capital Goods 1.76Power Finance corporation Ltd. Finance 1.74coal India Ltd. Minerals/Mining 1.70J.Kumar Infraprojects Ltd. construction 1.66Ashoka Buildcon Ltd. construction Project 1.64Simplex Infrastructures Ltd. construction 1.59B L Kashyap & Sons Ltd. construction 1.47BeML Ltd. Industrial capital Goods 1.43Sadbhav Infrastructure Project Ltd.(corporate Guarantee of Sadbhav engineering Ltd.) construction Project 1.26RITeS Ltd. construction Project 1.10Punjab National Bank Banks 1.07Ircon International Ltd. construction Project 1.02cG Power & Industrial Solutions Ltd. Industrial capital Goods 1.01Ambuja cements Ltd. cement 0.98PNc Infratech Ltd. construction 0.87MeP Infrastructure Developers Ltd. Transportation 0.79


corporation Bank Banks 0.54RP-SG Business Process Services Software 0.43RP-SG Retail Ltd Retailing 0.40Transformers And Rectifiers (India) Ltd. Industrial capital Goods 0.38Elecon Engineering co. Ltd. Industrial capital Goods 0.32Rural electrification corporation Ltd. Finance 0.29Bharat Heavy electricals Ltd. Industrial capital Goods 0.25Oriental Bank of commerce Banks 0.24Gammon Infrastructure Projects Ltd. construction Project 0.09easun Reyrolle Ltd. Industrial capital Goods 0.03Grasim Industries Ltd. cement @Sub Total 97.73cash margin 0.05cash, cash Equivalents and Net current Assets 2.22

grand Total 100.00

• Top Ten Holdings, @ Less than 0.01%

0.40

0.43

0.98

1.70

1.93

1.95

2.01

2.03

2.07

2.12

2.96

3.07

9.26

10.99

12.26

16.56

27.01

0 5 10 15 20 25 30

Retailing

Software

Cement

Minerals/Mining

Ferrous Metals

Chemicals


Finance

Telecom - Equipment And Accessories

Auto Ancillaries

Petroleum Products

Transportation

Power


Construction


Banks



(An open-ended equity scheme following infrastructure theme) HDFC Infrastructure Fund


INVESTMENT OBjECTIVETo provide long term capital appreciation / income from a dynamic mix of equity and debt investments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Balanced Advantage Fund

FUnD MAnAGER ¥

Prashant jain (since June 20, 03)§

Total experience: Over 27 years

InCEPTIon DATE¤

February 01, 1994



l qUAnTITATIVE DATAPortfolio Turnover Ratio 20.71%Average Maturity * 3.07 yearsMacaulay Duration * 2.69 yearsModified Duration * 2.44 yearsYield to Maturity * 9.54%

* computed on the invested amount for debt portfolio.


l #BEnCHMARK InDEX: NIFTY 50 Hybrid composite Debt 65:35 Index

l ##ADDL. BEnCHMARK InDEX: NIFTY 50 (Total Returns Index)

EXIT LoADl In respect of each purchase / switch-in of Units, upto 15%

of the units may be redeemed without any exit load from the date of allotment.

l Any redemption in excess of the above limit shall be subject to the following exit load:

n exit load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment of units.




MINIMUM APPLICATION AMOUNTPurchase : ` 5,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.

REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days.¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).

§ Date of migration of erstwhile HDFc Prudence Fund from Zurich India Mutual Fund (close of business hours - June 19, 03).

HDFC Balanced Advantage Fund ¤

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of October 31, 2018 unless otherwise specified. ....contd on next page

PORTFOLIO






• Larsen & Toubro Ltd. construction Project 6.81

• NTPc Ltd. Power 3.88

• Power Grid corporation of India Ltd. Power 3.52

• Reliance Industries Ltd. Petroleum Products 3.00

• GAIL (India) Ltd. Gas 2.83


ITc Ltd. consumer Non Durables 2.34

Tata Steel Ltd. Ferrous Metals 2.16

Aurobindo Pharma Ltd. Pharmaceuticals 1.83

Power Finance corporation Ltd. Finance 1.78


HDFc Bank Ltd. Banks 1.51




Tata chemicals Ltd. chemicals 1.19

Vedanta Ltd. Non - Ferrous Metals 1.13

Punjab National Bank Banks 0.96

Bank of Baroda Banks 0.86

Solar Industries India Ltd. chemicals 0.86

Just Dial Ltd. Software 0.82

Rural electrification corporation Ltd. Finance 0.80

chambal Fertilizers & chemicals Ltd. Fertilisers 0.76

canara Bank Banks 0.70

Tata consultancy Services Ltd. Software 0.69

Gujarat Pipavav Port Ltd. Transportation 0.60

Apollo Tyres Ltd. Auto Ancillaries 0.51

NHPc Ltd. Power 0.50

Avenue Supermarts Ltd. Retailing 0.48

ABB India Ltd. Industrial capital Goods 0.47

Siemens Ltd. Industrial capital Goods 0.45

cESc Ltd. Power 0.41

container corporation of India Ltd. Transportation 0.37

Ashoka Buildcon Ltd. construction Project 0.37

Savita Oil Technologies Ltd. Petroleum Products 0.36

Apar Industries Ltd. Industrial capital Goods 0.34

Time Technoplast Ltd. Industrial Products 0.29


Mishra Dhatu Nigam Ltd. Ferrous Metals 0.28

Steel Authority of India Ltd. Ferrous Metals 0.27

Orient cement Ltd. cement 0.24

Union Bank of India Banks 0.23

Matrimony.com Ltd. Services 0.23

cochin Shipyard Ltd. Industrial capital Goods 0.22

BeML Ltd. Industrial capital Goods 0.20

Vijaya Bank Banks 0.18

RITeS Ltd. construction Project 0.18

Reliance Nippon Life Asset Management Ltd. Finance 0.15

corporation Bank Banks 0.14

Future Supply chain Solutions Ltd. Transportation 0.14

Dynamatic Technologies Ltd. Auto Ancillaries 0.14

Oriental Bank of commerce Banks 0.13

Gujarat Industries Power co. Ltd. Power 0.13

JMc Projects (India) Ltd. construction 0.13

S chand and company Ltd. Media & entertainment 0.13

Kirloskar Pneumatic Ltd. Industrial Products 0.13


Garden Reach Shipbuilders & engineers Limited Aerospace And Defence 0.10

Texmaco Rail & engineering Ltd. Industrial capital Goods 0.10

Sagar cements Ltd. cement 0.10

MeP Infrastructure Developers Ltd. Transportation 0.09

cG Power & Industrial Solutions Ltd. Industrial capital Goods 0.09

Ramco Systems Ltd. Software 0.07

J.Kumar Infraprojects Ltd. construction 0.07


Syndicate Bank Banks 0.06

centum Electronics Ltd. Industrial capital Goods 0.05

Hindustan construction company Ltd. construction Project 0.04

RP-SG Business Process Services Software 0.04

RP-SG Retail Ltd Retailing 0.03

Allahabad Bank Banks 0.02

Jaiprakash Power Ventures Ltd. Power 0.01

Sub Total 82.23

DEBT & DEBT RELATED

CREDIT EXPoSURE

State Bank of India cRISIL - AA+ 4.92

Tata Sons Ltd. cRISIL - AAA 3.53

HDFc Bank Ltd. cRISIL - AA+ 2.41

canara Bank cRISIL - AA 1.73

note: ¤ Effective close of business hours of June 1, 2018, HDFc Prudence Fund merged with HDFc Growth Fund (HDFc Balanced Advantage Fund after changes in fundamental attributes). As the portfolio characteristics and the broad investment strategy of HDFc Balanced Advantage Fund is similar to that of erstwhile HDFc Prudence Fund, the track record (i.e. since inception date, dividend history, etc.) and past performance of erstwhile HDFc Prudence Fund has been considered, in line with SEBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.

(An open ended Balanced Advantage Fund)


HDFC Balanced Advantage Fund (An open ended Balanced Advantage Fund) ....Contd from previous page

0.100.130.200.230.340.420.510.650.761.131.202.052.092.342.712.732.802.833.03

5.987.408.4510.13

24.02

0 5 10 15 20 25 30Aerospace And DefenceMedia & Entertainment

ConstructionServicesCement

Industrial ProductsRetailing

Auto AncillariesFertilisers


ChemicalsIndustrial Capital GoodsConsumer Non Durables

Ferrous MetalsFinance

Minerals/MiningGas

PharmaceuticalsPetroleum Products

Construction ProjectPower

SoftwareBanks



IcIcI Bank Ltd. cARE - AA+ / IcRA - AA+ 1.33

Punjab National Bank cARE - A+ 1.13

Union Bank of India cARE - AA- / FITcH - AA- 0.76

Axis Bank Ltd. cRISIL - AA+ 0.61

Syndicate Bank cARE - AA- 0.34

Andhra Bank cARE - A+ 0.05

Sub Total 16.81


MUTUAL FUnD UnITS

HDFc SeNSex Exchange Traded Fund 0.03

Sub Total 0.03


grand Total 100.00


PORTFOLIO


SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,970.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) $$ 54,897.95 6,358.37 2,472.26 776.82 405.95 117.52 Returns (Annualised) (%) $$ 19.47 15.35 13.84 10.27 7.96 -3.81 Benchmark Returns (Annualised) (%) # N.A. 10.95 10.25 8.81 8.19 -1.26 Addl. Benchmark Ret. (Annualised) (%) ## 12.98 12.26 11.41 9.67 9.78 -3.97



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##


$$Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year -3.84 2.10 1.91 9,616 10,210 10,191Oct 30, 15 Last 3 Years 9.85 9.08 10.22 13,262 12,985 13,396Oct 31, 13 Last 5 Years 16.54 10.78 11.89 21,510 16,691 17,546Feb 01, 94 Since Inception 18.58 N.A. 10.19 679,526 N.A. 110,506

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). For performance of other schemes managed by Prashant Jain, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57. As TRI data is not available since inception of the scheme, additional benchmark performance is calculated using composite cAGR of NIFTY 50 PRI values from Feb 01, 94 to Jun 29, 99 and TRI values since Jun 30, 99.





l investments in a mix of equity and debt instruments

Riskometer



Portfolio Classification by Asset Class (%)

n equity 82.23n credit Exposure 16.81n Mutual Fund Units 0.03

n cash, cash Equivalents and Net current Assets 0.93

Portfolio Classification by Rating Class (%)

n equity 82.23n AAA/AAA(SO)/A1+/

A1+(S0) & Equivalent 3.53n AA+ 9.27n AA/AA- 2.83n A+ & Below 1.18n Mutual Fund Units 0.03n cash, cash Equivalents and

Net current Assets 0.93


l INVESTMENT OBjECTIVEThe investment objective of the Scheme is to generate capital appreciation / income from a portfolio, predominantly of equity & equity related instruments. The Scheme will also invest in debt and money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Aggressive Hybrid Fund

l FUnD MAnAGER ¥

Chirag Setalvad (since April 2, 07)¤

Total experience: Over 21 years

l InCEPTIon DATE¤

September 11, 2000



l qUAnTITATIVE DATAPortfolio Turnover Ratio (Last 1 year) 9.68%Average Maturity * 3.51 yearsMacaulay Duration * 2.80 yearsModified Duration * 2.62 yearsYield to Maturity * 8.46%

* computed on the invested amount for debt portfolio.




l EXIT LoADl In respect of each purchase/switch-in of Units, upto 15%









l SEgMENT-WISE BREAk-UP oF EqUITY HoLDInG (% oF nET ASSETS)Large cap 47.90%Mid cap 7.18%Small cap 12.47%¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


PORTFOLIO

note: ¤ Effective close of business hours of June 1, 2018, HDFc Balanced Fund merged with HDFc Premier Multi cap Fund (HDFc Hybrid Equity Fund after changes in fundamental attributes). As the portfolio characteristics and the broad investment strategy of HDFc Hybrid Equity Fund is similar to that of erstwhile HDFc Balanced Fund, the track record (i.e. since inception date dividend history, etc) and past performance of erstwhile HDFc Balanced Fund has been considered, in line with SEBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.






• Housing Development Finance corporation Ltd. £ Finance 3.84



• Aurobindo Pharma Ltd. Pharmaceuticals 2.52


Reliance Industries Ltd. Petroleum Products 1.97

State Bank of India Banks 1.82

Voltas Ltd. construction Project 1.51

Aarti Industries Ltd. chemicals 1.39

SKF India Ltd. Industrial Products 1.37

Indusind Bank Ltd. Banks 1.36

Power Grid corporation of India Ltd. Power 1.35


UPL Ltd. Pesticides 1.18

Balkrishna Industries Ltd. Auto Ancillaries 1.13


Petronet LNG Ltd. Gas 1.10

KEc International Ltd. construction Project 1.07



The Federal Bank Ltd. Banks 0.95


Atul Ltd. chemicals 0.92

TI Financial Holdings Ltd. Finance 0.90

The Indian Hotels company Ltd. Hotels, Resorts & Other Recreational Activities 0.83

Hero Motocorp Ltd. Auto 0.76

Bharti Airtel Ltd. Telecom - Services 0.69

NIIT Technologies Ltd. Software 0.63

Yes Bank Ltd. Banks 0.62

Mahindra Holidays & Resorts India Ltd.



Tube Investments of India Ltd. Auto Ancillaries 0.57

Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.55

Hexaware Technologies Ltd. Software 0.51

Sadbhav engineering Ltd. construction Project 0.51

Edelweiss Financial Services Ltd. Finance 0.51


Tamil Nadu Newsprint & Papers Ltd. Paper 0.46

Zensar Technologies Ltd. Software 0.42



VST Industries Ltd. consumer Non Durables 0.41

Vardhman Textiles Ltd. Textiles - cotton 0.40


Sharda cropchem Ltd. Pesticides 0.35

Redington (India) Ltd. Transportation 0.32

carborundum Universal Ltd. Industrial Products 0.31


Oil & Natural Gas corporation Ltd. Oil 0.30

IPcA Laboratories Ltd. Pharmaceuticals 0.30

IcIcI Securities Ltd. Finance 0.27

Jagran Prakashan Ltd. Media & entertainment 0.26


Rallis India Ltd. Pesticides 0.17

MM Forgings Ltd. Industrial Products 0.16

Navneet education Ltd. Media & entertainment 0.16

Kaveri Seed company Ltd. consumer Non Durables 0.16

Persistent Systems Ltd. Software 0.12

Greenply Industries Ltd. consumer Durables 0.12

IFB Industries Ltd. consumer Durables 0.11

Atul Auto Ltd. Auto 0.09

Lupin Ltd. Pharmaceuticals 0.08


Insecticides (India) Ltd. Pesticides 0.03

Sub Total 67.57

DEBT & DEBT RELATED

gOVERNMENT SECURITIES

7.16 GOI 2023 Sovereign 1.47




















Sub Total 8.47

HDFC Hybrid Equity Fund ¤ (An open ended hybrid scheme investing predominantly in equity and equity related instruments)



CREDIT EXPoSURE

• Tata Sons Ltd. cRISIL - AAA 4.47

• National Bank for Agriculture & Rural Development cRISIL - AAA 2.20

• Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA 2.12

LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 1.90

Axis Bank Ltd. cRISIL - AA+ 1.56

Small Industries Development Bank of India cARE - AAA 1.41

Housing Development Finance corporation Ltd.£ cRISIL - AAA 1.31

L&T Finance Ltd. cARE - AAA 1.20

Rural electrification corporation Ltd.

cARE - AAA / cRISIL - AAA / FITcH - AAA 0.72

Shriram Transport Finance company Ltd. cRISIL - AA+ 0.70

National Highways Authority of India cRISIL - AAA 0.57


cholamandalam Investment and Finance company Ltd. IcRA - AA+ 0.35



HDFc Bank Ltd. cRISIL - AAA 0.22


Oriental Bank of commerce IcRA - A+ 0.13

IcIcI Bank Ltd. cARE - AAA 0.11


Hindalco Industries Ltd. cRISIL - AA 0.05

Sub Total 19.92

MUTUAL FUnD UnITS

HDFc NIFTY 50 Exchange Traded Fund 0.65

Sub Total 0.65


grand Total 100.00


PORTFOLIO

HDFC Hybrid Equity Fund (An open ended hybrid scheme investing predominantly in equity and equity related instruments) ...Contd from previous page

0.230.300.320.400.420.460.520.691.041.101.121.161.311.411.581.701.731.842.313.353.453.89

5.526.176.82

18.73

0 2 4 6 8 10 12 14 16 18 20Consumer Durables

OilTransportation

Textiles - CottonMedia & Entertainment

PaperConstruction

Telecom - ServiceNon - Ferrous Metals

GasIndustrial Capital Goods

AutoFerrous Metals

Hotels, Resorts & Other Recreational ActivitiesPower

Auto AncillariesPesticides

Industrial ProductsChemicals

Petroleum ProductsPharmaceuticals

Consumer Non DurablesFinance

Construction ProjectSoftware

Banks


equity 67.57G-Sec 8.47credit Exposure 19.92Mutual Fund Units 0.65cash, cash Equivalents and Net current Assets 3.39

n equity 67.57n Sovereign 8.47n AAA/AAA(SO)/A1+/

A1+(S0) & Equivalent 16.23n AA+ 2.84n AA/AA- 0.19n A+ & Below 0.66n Mutual Fund Units 0.65n cash, cash Equivalents and


Portfolio Classification by Asset Class (%) Portfolio Classification by Rating Class (%)


l to generate long-term capital appreciation / income.

l investments predominantly in equity & equity related instruments. The Scheme will also invest in debt and money market instruments.

Riskometer




SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,180.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) 11,424.29 6,108.22 2,590.20 777.19 398.45 114.81 Returns (Annualised) (%) 16.13 14.89 14.71 10.29 6.70 -7.92 Benchmark Returns (Annualised) (%) # N.A. 10.95 10.25 8.81 8.19 -1.26 Addl. Benchmark Ret. (Annualised) (%) ## 14.34 12.26 11.41 9.67 9.78 -3.97



Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year -3.51 2.10 1.91 9,649 10,210 10,191Oct 30, 15 Last 3 Years 9.41 9.08 10.22 13,103 12,985 13,396Oct 31, 13 Last 5 Years 16.91 10.78 11.89 21,848 16,691 17,546Sep 11, 00 Since Inception 15.73 N.A. 13.02 141,787 N.A. 92,140

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments. For performance of other schemes managed by chirag Setalvad, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.




l INVESTMENT OBjECTIVEThe objective of the Scheme is to generate long term capital appreciation/income by investing in a diversified portfolio of equity & equity related instruments, debt & money market instruments and Gold.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Multi Asset Allocation Fund

l FUnD MAnAGER ¥

Chirag Setalvad (equities) (since April 2, 07) Total experience - Over 21 years &Anil Bamboli (Debt) (since August 17, 05) Total experience: Over 23 yearsKrishan Kumar Daga (Gold) (since May 23, 18) Total experience: Over 22 years

l InCEPTIon DATE (Date of Allotment)August 17, 2005



l qUAnTITATIVE DATAPortfolio Turnover Ratio 113.59%

TOTAL ExPENSE RATIO (As on OctoBER 31, 2018)Including Additional expenses and Goods and Service Tax on Management FeesRegular: 2.85% Direct: 2.20%

l #BEnCHMARK InDEX: 90% NIFTY 50 Hybrid Composite Debt 65:35 Index + 10% Domestic Price of Gold


l EXIT LoADl In respect of each purchase / switch-in of Units, 15% of

the units (“the limit”) may be redeemed without any exit Load from the date of allotment.


t exit Load of 1.00% is payable if units are redeemed / switched out within 12 months from the date of allotment.

l No exit Load is payable if units are redeemed / switched out after 12 months from the date of allotment.




l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days.¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience - Over 14 years).


SIP10 year

SIP5 Year

SIP3 Year

SIP1 Year

SIPTotal Amount Invested (` ‘000) 1,590.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) 2,877.51 1,827.26 690.84 377.42 115.60 Returns (Annualised) (%) 8.51 8.15 5.58 3.09 -6.73 Benchmark Returns (Annualised) (%) # N.A. N.A. 8.47 7.99 0.01 Addl. Benchmark Ret. (Annualised) (%) ## 10.93 11.41 9.67 9.78 -3.97



Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year -2.06 2.83 1.91 9,794 10,283 10,191Oct 30, 15 Last 3 Years 5.85 8.89 10.22 11,864 12,919 13,396Oct 31, 13 Last 5 Years 8.82 9.97 11.89 15,262 16,089 17,546Aug 17, 05 Since Inception 8.69 N.A. 13.11 30,060 N.A. 50,935

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. The Scheme formerly, a debt oriented hybrid fund, has undergone change in Fundamental attributes w.e.f. May 23, 2018 and become a multi asset fund investing in equities, debt and gold. Accordingly, the Scheme’s benchmark has also changed. Hence, the performance of the Scheme from inception till May 22, 2018 may not strictly be comparable with those of the new benchmark and the additional benchmark. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in debt instruments and gold. For performance of other schemes managed by chirag Setalvad (Equities), Anil Bamboli (Debt) and Krishan Kumar Daga (Gold), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 63.


This product is suitable for investors who are seeking ~l to generate long-term capital appreciation/incomel investments in a diversified portfolio of equity & equity related

instruments, debt & money market instruments and GoldRiskometer




(An open ended scheme investing in Equity and Equity related instruments, Debt & Money Market Instruments and Gold)HDFC Multi-Asset Fund

0.320.340.380.420.430.450.510.710.860.901.201.801.962.422.462.743.193.243.47

4.355.07

6.2712.64

14.34

0 2 4 6 8 10 12 14 16Gas

Minerals/MiningTelecom - Services

Ferrous MetalsOil

PaperMedia & Entertainment

Non - Ferrous MetalsConsumer Durables

PowerTransportation

PesticidesPharmaceuticals

AutoIndustrial Products

ChemicalsConsumer Non DurablesIndustrial Capital Goods

FinanceConstruction Project

Auto AncillariesPetroleum Products

SoftwareBanks



n equity 75.50

n credit Exposure 8.26

n Gold & Gold Related 9.49



n equity 75.50n AAA/AAA(SO)/A1+/

A1+(S0) & Equivalent 8.26n Gold & Gold Related 9.49n cash, cash Equivalents and



Company Industry+ / Rating % to NAV (Hedged & Unhedged)

% exposure of Derivative

EqUITY & EqUITY RELATED• HDFc Bank Ltd. Banks 7.16 0.00

• Infosys Ltd. Software 3.74 0.00

• Reliance Industries Ltd. Petroleum Products 3.60 0.00

• Housing Development Finance corporation Ltd.£ Finance 2.91 0.00

• Ashok Leyland Ltd. Auto 2.89 2.89

• NIIT Technologies Ltd. Software 2.89 0.00

• Oriental carbon & chemicals Ltd. chemicals 2.70 0.00

• State Bank of India Banks 2.60 0.00

Larsen & Toubro Ltd. construction Project 2.58 0.00

ITc Ltd. consumer Non Durables 2.35 0.00

IcIcI Bank Ltd. Banks 2.24 0.00

Reliance Infrastructure Ltd. Power 2.13 2.13

Shaily engineering Plastics Ltd. Industrial capital Goods 1.98 0.00

Tata consultancy Services Ltd. Software 1.90 0.00

Sonata Software Ltd. Software 1.84 0.00

KEc International Ltd. construction Project 1.77 0.00

Firstsource Solutions Ltd Software 1.69 0.00

Sharda cropchem Ltd. Pesticides 1.56 0.00

Gabriel India Ltd. Auto Ancillaries 1.44 0.00

carborundum Universal Ltd. Industrial Products 1.27 0.00

Balkrishna Industries Ltd. Auto Ancillaries 1.21 0.00

Redington (India) Ltd. Transportation 1.20 0.00

Sundram Fasteners Ltd. Auto Ancillaries 1.10 0.00

Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.04 0.00

Bharat Petroleum corporation Ltd. Petroleum Products 1.03 0.00

Axis Bank Ltd. Banks 0.98 0.00

Hindustan Petroleum corporation Ltd. Petroleum Products 0.94 0.00

Greenply Industries Ltd. consumer Durables 0.86 0.00

VST Industries Ltd. consumer Non Durables 0.84 0.00

Gujarat Fluorochemicals Ltd. Industrial capital Goods 0.73 0.00

Indusind Bank Ltd. Banks 0.71 0.00

Hero Motocorp Ltd. Auto 0.71 0.00

Mahindra & Mahindra Ltd. Auto 0.70 0.00

Savita Oil Technologies Ltd. Petroleum Products 0.70 0.00

Vesuvius India Ltd. Industrial Products 0.68 0.00

Tata Motors Ltd. DVR Auto 0.68 0.00

Banco Products (I) Ltd. Auto Ancillaries 0.67 0.00



Suprajit engineering Ltd. Auto Ancillaries 0.65 0.00

IPcA Laboratories Ltd. Pharmaceuticals 0.61 0.00

HcL Technologies Ltd. Software 0.58 0.00

Rural Electrification corporation Ltd. Finance 0.56 0.00

Apar Industries Ltd. Industrial capital Goods 0.53 0.00

Jagran Prakashan Ltd. Media And entertainment 0.51 0.00

Timken India Ltd. Industrial Products 0.51 0.00

NTPc Ltd. Power 0.49 0.00

Tamil Nadu Newsprint & Papers Ltd. Paper 0.45 0.00

Oil & Natural Gas corporation Ltd. Oil 0.43 0.00

Tata Steel Ltd. Ferrous Metals 0.42 0.00

Power Grid corporation of India Ltd. Power 0.41 0.00

Vedanta Ltd. Non - Ferrous Metals 0.39 0.00

Bharti Airtel Ltd. Telecom - Services 0.38 0.00

coal India Ltd. Minerals/Mining 0.34 0.00

Yes Bank Ltd. Banks 0.34 0.00

Tata Motors Ltd. Auto 0.33 0.00

GAIL (India) Ltd. Gas 0.32 0.00

Union Bank of India Banks 0.32 0.00

Hindalco Industries Ltd. Non - Ferrous Metals 0.32 0.00

cipla Ltd. Pharmaceuticals 0.31 0.00

UPL Ltd. Pesticides 0.24 0.00

Poddar Pigments Ltd. chemicals 0.04 0.00

Sub Total 75.50

CREDIT EXPoSURE

• Kotak Mahindra Prime Ltd. cRISIL - AAA 8.26

Sub Total 8.26

GoLD

• Gold Bar 1 Kg (0.995 purity) 9.49

HDFc Gold Exchange Traded Fund 2.21

Sub Total 11.70Short Term Deposits as margin for Futures & Options 2.77cash, cash Equivalents and Net current Assets 1.77

grand Total 100.00• Top Ten Holdings, £ co-sponsor

Outstanding exposure in derivative instruments (` in crore) 7.28

Hedged position in Equity & Equity related instruments

Outstanding derivative exposure (% age) 5.03

PORTFOLIO

(An open ended scheme investing in Equity and Equity related instruments, Debt & Money Market Instruments and Gold)

....Contd from previous pageHDFC Multi-Asset Fund



l INVESTMENT OBjECTIVEThe investment objective of HDFc NIFTY 50 ETF is to generate returns that are commensurate with the performance of the NIFTY 50 Index, subject to tracking error.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Exchange Traded Fund

l FUnD MAnAGERKrishan Kumar Daga (since December 09, 15) Total experience: Over 22 years

l InCEPTIon DATE (Date of Allotment)December 09, 2015

NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Growth Option 1,075.90

ASSETS UnDER MAnAGEMEnT j (`) IN CROREAs on October 31, 2018 219.47Average for Month of October, 2018 206.62

l qUAnTITATIVE DATAPortfolio Turnover Ratio (Last 1 year) 10.20%

l TRACkINg ERRORAnnualised tracking error is calculated based on daily rolling returns for the last 12 months: 0.05%

TOTAL ExPENSE RATIO (As on October 31, 2018)Including Additional expenses and Goods and Service Tax on Management FeesHDFc NIFTY 50 ETF 0.05%

l #BEnCHMARK InDEX: NIFTY 50 (Total Returns Index)l ##ADDL. BEnCHMARK InDEX: S&P BSe SeNSex (Total

Returns Index)

l EXIT LoADFor Creation Unit Size:l No exit load will be levied on redemptions made by

Authorised Participants / Large Investors directly with the Fund in creation Unit Size.

For other than Creation Unit Size:l N.A. The Units of HNETF in other than creation Unit Size cannot

be directly redeemed with the Fund. These Units can be redeemed (sold) on a continuous basis on

the NSe and BSe during the trading hours on all trading days. Refer SID for further details.For further details, please refer to para ‘Exit Load’ on Pg 51.

l PLANS & OPTIONSHDFc NIFTY 50 ETF. Presently the Scheme does not offer any Plans / Options for investmentl MINIMUM APPLICATION AMOUNT (Under each Plan / option)Authorised Participants / Large Investors: Application for subscription of HNETF Units in creation Unit Size can be made either: (i) in exchange of the Portfolio Deposit; or (ii) by depositing basket of securities comprising NIFTY 50 Index Each creation Unit Size will consist of 4,000 Units of HNETF and 1 Unit of HNETF will be approximately equal to 1/10th of the value of NIFTY 50 Index. other investors (including Authorised Participants and Large Investors): Units of HNETF can be subscribed (in lots of 1 Unit) during the trading hours on all trading days on the NSe and BSe on which the Units will be listed.

Face Value per Unit: ` 761.25, + Industry classification as recommended by AMFI, Data is as of October 31, 2018 unless otherwise specified.

PERFORMANCE*^Date Period Scheme

Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Oct 31, 17 Last 1 Year 1.89 1.91 4.91 10,189 10,191 10,491

Dec 09, 15 Since Inception 12.69 12.85 13.15 14,133 14,191 14,301

Returns are compounded annualized (cAGR). * The Scheme does not offer any Plans/Options. The Scheme is in existence for more than 1 year but less than 3 years. For performance of other schemes managed by Krishan Kumar Daga, please refer page 51.


l returns that are commensurate with the performance of the NIFTY 50, subject to tracking errors over long term

l investment in equity securities covered by the NIFTY 50

Riskometer







• Housing Development Finance corporation Ltd.£ Finance 6.95




• Tata consultancy Services Ltd. Software 5.01


• Kotak Mahindra Bank Ltd. Banks 3.61

• Hindustan Unilever Ltd. consumer Non Durables 2.80



Maruti Suzuki India Ltd. Auto 2.13


Mahindra & Mahindra Ltd. Auto 1.73

Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.55

HcL Technologies Ltd. Software 1.42

Bajaj Finance Ltd. Finance 1.36

Asian Paints Ltd. consumer Non Durables 1.34

NTPc Ltd. Power 1.21

Tech Mahindra Ltd. Software 1.13







UltraTech cement Ltd. cement 0.88



JSW Steel Ltd. Ferrous Metals 0.85

Bajaj Auto Ltd. Auto 0.85

Titan company Ltd. consumer Durables 0.85


GAIL (India) Ltd. Gas 0.82


Grasim Industries Ltd. cement 0.79


Bajaj Finserv Ltd. Finance 0.79

Hindalco Industries Ltd. Non - Ferrous Metals 0.78


Dr. Reddy's Laboratories Ltd. Pharmaceuticals 0.75

Indian Oil corporation Ltd. Petroleum Products 0.71

eicher Motors Ltd. Auto 0.70

Indiabulls Housing Finance Ltd. Finance 0.67

Zee entertainment enterprises Ltd. Media & entertainment 0.61

Adani Ports and Special economic Zone Ltd. Transportation 0.61


Bharti Infratel Ltd. Telecom - equipment And Accessories 0.55



Sub Total 99.92


grand Total 100.00


PORTFOLIO

0.550.600.610.610.820.850.880.931.041.671.731.862.243.073.87

7.079.779.9310.40

14.7626.66

0 5 10 15 20 25 30

Telecom - Equipment & AccessoriesPesticides


GasConsumer Durables


OilCement

Non - Ferrous MetalsFerrous Metals

PowerPharmaceuticals

Construction ProjectAuto

FinanceConsumer Non Durables

Petroleum ProductsSoftware

Banks



j Includes investments made by the schemes of HDFc Mutual Fund aggregating to Rs. 155.44 crores

(An open ended scheme replicating / tracking NIFTY 50 Index)HDFC NIFTY 50 ETF


l INVESTMENT OBjECTIVEThe investment objective of the Scheme is to generate returns that are commensurate with the performance of the NIFTY 50 Index, subject to tracking errors.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Index Fund

l FUnD MAnAGERKrishan Kumar Daga (since October 19, 15) Total experience: Over 22 years

l InCEPTIon DATE (Date of Allotment)July 17, 2002

NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 94.0721Direct Plan - Growth Option 95.0030








of 0.25% is payable if Units are redeemed / switched-out within 3 days from the date of allotment.

l No exit load is payable if units are redeemed / switched out after 3 days from the date of allotment.


l PLANS & OPTIONSRegular Plan, Direct Plan. each Plan offers Growth Option only.




SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year




Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 1.60 1.91 4.91 10,160 10,191 10,491Oct 30, 15 Last 3 Years 9.68 10.22 10.33 13,202 13,396 13,436Oct 31, 13 Last 5 Years 11.43 11.89 11.75 17,184 17,546 17,430Jul 17, 02 Since Inception 14.51 16.87 17.48 91,102 126,965 138,209

Returns greater than 1 year period are compounded annualized (cAGR). Since inception returns are calculated on ` 10.3260 (allotment price). For performance of other schemes managed by Krishan Kumar Daga, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.



l returns that are commensurate with the performance of the NIFTY 50, subject to tracking errors over long term

l investment in equity securities covered by the NIFTY 50

Riskometer




EqUITY & EqUITY RELATED• HDFc Bank Ltd. Banks 9.89• Reliance Industries Ltd. Petroleum Products 8.76• Housing Development

Finance corporation Ltd. £ Finance 6.94• Infosys Ltd. Software 6.29• ITc Ltd. consumer Non Durables 5.79• IcIcI Bank Ltd. Banks 5.51• Tata consultancy Services Ltd. Software 5.01• Larsen & Toubro Ltd. construction Project 3.86• Kotak Mahindra Bank Ltd. Banks 3.60• Hindustan Unilever Ltd. consumer Non Durables 2.79State Bank of India Banks 2.54Axis Bank Ltd. Banks 2.49Maruti Suzuki India Ltd. Auto 2.12Indusind Bank Ltd. Banks 1.76Mahindra & Mahindra Ltd. Auto 1.72Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.54HcL Technologies Ltd. Software 1.42Bajaj Finance Ltd. Finance 1.36Asian Paints Ltd. consumer Non Durables 1.34NTPc Ltd. Power 1.21Tech Mahindra Ltd. Software 1.13Oil & Natural Gas corporation Ltd. Oil 1.04Power Grid corporation of India Ltd. Power 1.03Tata Steel Ltd. Ferrous Metals 1.01Vedanta Ltd. Non - Ferrous Metals 0.95Bharti Airtel Ltd. Telecom - Services 0.93Wipro Ltd. Software 0.90UltraTech cement Ltd. cement 0.88coal India Ltd. Minerals/Mining 0.88Hero Motocorp Ltd. Auto 0.87JSW Steel Ltd. Ferrous Metals 0.85Bajaj Auto Ltd. Auto 0.85Titan company Ltd. consumer Durables 0.85Yes Bank Ltd. Banks 0.84GAIL (India) Ltd. Gas 0.81Tata Motors Ltd. Auto 0.80Grasim Industries Ltd. cement 0.79Bajaj Finserv Ltd. Finance 0.79Hindalco Industries Ltd. Non - Ferrous Metals 0.78cipla Ltd. Pharmaceuticals 0.77


Dr. Reddy's Laboratories Ltd. Pharmaceuticals 0.74eicher Motors Ltd. Auto 0.72Indian Oil corporation Ltd. Petroleum Products 0.71Indiabulls Housing Finance Ltd. Finance 0.67Zee entertainment enterprises Ltd. Media & entertainment 0.61Adani Ports and Special economic Zone Ltd. Transportation 0.61UPL Ltd. Pesticides 0.60Bharti Infratel Ltd. Telecom - equipment

And Accessories 0.55Bharat Petroleum corporation Ltd. Petroleum Products 0.52Hindustan Petroleum corporation Ltd. Petroleum Products 0.40Sub Total 99.82


grand Total 100.00


PORTFOLIO

0.550.600.610.610.810.850.880.931.041.671.731.862.243.053.86

7.089.769.9210.39

14.7526.63

0 5 10 15 20 25 30

Telecom - Equipment & AccessoriesPesticides


GasConsumer Durables


OilCement

Non - Ferrous MetalsFerrous Metals

PowerPharmaceuticals

Construction ProjectAuto

FinanceConsumer Non Durables

Petroleum ProductsSoftware

Banks



(An open ended scheme replicating / tracking NIFTY 50 Index)HDFC Index Fund - NIFTY 50 Plan


l INVESTMENT OBjECTIVEThe investment objective of HDFc SENSEx ETF is to generate returns that are commensurate with the performance of the S&P BSe SeNSex Index, subject to tracking errors.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Exchange Traded Fund

l FUnD MAnAGERKrishan Kumar Daga (since December 09, 15) Total experience: Over 22 years

l InCEPTIon DATE (Date of Allotment)December 09, 2015

NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Growth Option 3,581.76

ASSETS UnDER MAnAGEMEnT j (`) IN CROREAs on October 31, 2018 71.22Average for Month of October, 2018 63.34



TOTAL ExPENSE RATIO (As on October 31, 2018)Including Additional expenses and Goods and Service Tax on Management FeesHDFc SeNSex ETF 0.05%

l #BEnCHMARK InDEX: S&P BSe SeNSex (Total Returns Index)l ##ADDL. BEnCHMARK InDEX: NIFTY 50 (Total Returns Index)

l EXIT LoADFor Creation Unit Size:l No exit load will be levied on redemptions made by

Authorised Participants / Large Investors directly with the Fund in creation Unit Size.

For other than Creation Unit Size:l N.A. The Units of HSxETF in other than creation Unit Size cannot

be directly redeemed with the Fund. These Units can be redeemed (sold) on a continuous basis on

the NSe and BSe during the trading hours on all trading days. Refer SID for further details.For further details, please refer to para ‘Exit Load’ on Pg 51.

l PLANS & OPTIONSHDFc SENSEx ETF. Presently the Scheme does not offer any Plans / Options for investment

l MINIMUM APPLICATION AMOUNT (Under each Plan / option)Authorised Participants / Large Investors: Application for subscription of HSxETF Units in creation Unit Size can be made either: (i) in exchange of the Portfolio Deposit; or (ii) by depositing basket of securities comprising S&P BSe

SeNSex IndexEach creation Unit Size will consist of 1,000 Units of HSxETF and 1 Unit of HSxETF will be approximately equal to 1/10th of the value of S&P BSe SeNSex Index. other investors (including Authorised Participants and Large Investors): Units of HSxETF can be subscribed (in lots of 1 Unit) during the trading hours on all trading days on the NSe and BSe on which the Units will be listed.

Face Value per Unit: ` 2,503.61, + Industry classification as recommended by AMFI, Data is as of October 31, 2018 unless otherwise specified.

PERFORMANCE*^Date Period Scheme

Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Oct 31, 17 Last 1 Year 4.84 4.91 1.91 10,484 10,491 10,191

Dec 09, 15 Since Inception 13.16 13.15 12.85 14,306 14,301 14,191

Returns are compounded annualized (cAGR). * The Scheme does not offer any Plans/Options. The Scheme is in existence for more than 1 year but less than 3 years. For performance of other schemes managed by Krishan Kumar Daga, please refer page 51.

This product is suitable for investors who are seeking ~l returns that are commensurate with the performance of the

S&P BSe SeNSex, subject to tracking errors over long terml investment in equity securities covered by the S&P BSe

SeNSexRiskometer





































Sub Total 99.88


grand Total 100.00


PORTFOLIO

0.73

1.05

1.12

1.14

1.23

1.25

1.81

2.69

4.59

7.75

8.61

9.94

11.86

14.67

31.44

0 5 10 15 20 25 30 35

Transportation

Minerals/Mining

Telecom - Services


Ferrous Metals

Oil

Pharmaceuticals

Power


Auto

Finance

Petroleum Products


Software

Banks



j Includes investments made by the schemes of HDFc Mutual Fund aggregating to Rs. 30.55 crores

(An open ended scheme replicating / tracking S&P BSE SENSEX Index)HDFC SENSEX ETF




































Sub Total 99.82


grand Total 100.00


l INVESTMENT OBjECTIVEThe investment objective of the Scheme is to generate returns that are commensurate with the performance of the S&P BSe SeNSex Index, subject to tracking errors.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Index Fund

l FUnD MAnAGERKrishan Kumar Daga (since October 19, 15) Total experience: Over 22 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 304.2757Direct Plan - Growth Option 307.6461





l #BEnCHMARK InDEX: S&P BSe SeNSex (Total Returns Index)



of 0.25% is payable if Units are redeemed / switched-out within 3 days from the date of allotment.

l No exit load is payable if units are redeemed / switched out after 3 days from the date of allotment.


l PLANS & OPTIONSRegular Plan, Direct Plan. each Plan offers Growth Option only.




SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year




Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 4.44 4.91 1.91 10,444 10,491 10,191Oct 30, 15 Last 3 Years 9.96 10.33 10.22 13,302 13,436 13,396Oct 31, 13 Last 5 Years 11.22 11.75 11.89 17,024 17,430 17,546Jul 17, 02 Since Inception 14.78 17.48 16.87 94,610 138,209 126,965

Returns greater than 1 year period are compounded annualized (cAGR). Since inception returns are calculated on ` 32.1610 (allotment price). For performance of other schemes managed by Krishan Kumar Daga, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.



l returns that are commensurate with the performance of the S&P BSe SeNSex, subject to tracking errors over long term.

l investment in equity securities covered by the S&P BSe SeNSex.

Riskometer



PORTFOLIO

0.73

1.05

1.12

1.14

1.23

1.25

1.81

2.69

4.58

7.74

8.60

9.93

11.86

14.67

31.42

0 5 10 15 20 25 30 35

Transportation

Minerals/Mining

Telecom - Services


Ferrous Metals

Oil

Pharmaceuticals

Power


Auto

Finance

Petroleum Products


Software

Banks



(An open-ended scheme replicating / tracking S&P BSE SENSEX Index)HDFC Index Fund - SENSEX Plan

note: Effective close of business hours of May 25, 2018, HDFc Index Fund - SENSEx Plan (the Scheme) underwent changes in Fundamental Attributes and HDFc Index Fund - SENSEx Plus Plan was merged therein. As the portfolio structuring of the Scheme is continued, its past performance is provided, in line with SeBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.


l INVESTMENT OBjECTIVETo generate capital appreciation / income from a portfolio, comprising predominantly of equity & equity related instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: equity Linked Savings Scheme

l FUnD MAnAGER ¥

Vinay kulkarni (since November 21, 06) Total experience: Over 29 years




l qUAnTITATIVE DATAPortfolio Turnover Ratio (Last 1 year) 46.27%Risk Ration Standard Deviation 4.900%n Beta 1.025n Sharpe Ratio* 0.060computed for the 3-yr period ended October 31, 2018.Based on month-end NAV.* Risk free rate: 6.60% (Source: FIMMDA MIBOR)



l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout facility.

l MINIMUM APPLICATION AMOUNTPurchase : ` 500 and in multiples of ` 500 thereafter.Additional Purchase : 500 and in multiples of 500 thereafter.

l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days (Redemption is subject to completion of Lock-in Period, if applicable).

l LoCK-In PERIoD3 years from the date of allotment of the respective Units¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,710.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) $$ 62,238.50 5,895.00 2,326.48 747.76 397.42 112.48 Returns (Annualised) (%) $$ 23.00 14.48 12.71 8.74 6.53 -11.40 Benchmark Returns (Annualised) (%) # 14.90 12.50 12.09 10.05 8.29 -10.19 Addl. Benchmark Ret. (Annualised) (%) ## 13.64 12.26 11.41 9.67 9.78 -3.97



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##


$$Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year -8.42 -3.17 1.91 9,158 9,683 10,191Oct 30, 15 Last 3 Years 9.11 10.39 10.22 12,994 13,459 13,396Oct 31, 13 Last 5 Years 14.99 14.04 11.89 20,112 19,297 17,546Mar 31, 96 Since Inception 23.77 13.68 12.31 1,238,356 181,553 137,942

Returns greater than 1 year period are compounded annualized (cAGR). $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). For performance of other schemes managed by Vinay Kulkarni, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57. As TRI data is not available since inception of the scheme, additional benchmark performance is calculated using composite cAGR of NIFTY 50 PRI values from Mar 29, 96 (Data for March 31, 96 is not available) to Jun 29, 99 and TRI values since Jun 30, 99. As NIFTY 500 TRI data is not available for March 31, 96, benchmark performance is calculated from March 29, 96.




l investment predominantly of equity & equity related instruments

Riskometer



PORTFOLIO


EqUITY & EqUITY RELATED• Infosys Ltd. Software 8.55• IcIcI Bank Ltd. Banks 8.45• HDFc Bank Ltd. Banks 8.20• NTPc Ltd. Power 7.86• State Bank of India Banks 6.88• GAIL (India) Ltd. Gas 5.97• Reliance Industries Ltd. Petroleum Products 4.82• ITc Ltd. consumer Non Durables 4.75• Larsen & Toubro Ltd. construction Project 4.28• Vedanta Ltd. Non - Ferrous Metals 3.80cipla Ltd. Pharmaceuticals 3.28Tata Steel Ltd. Ferrous Metals 3.25NHPc Ltd. Power 2.25Oracle Financial Services Software Ltd. Software 2.24Axis Bank Ltd. Banks 2.16Power Grid corporation of India Ltd. Power 1.39Bharat Petroleum corporation Ltd. Petroleum Products 1.36Bharat electronics Ltd. Industrial capital Goods 1.35L&T Technology Services Ltd. Software 1.27Tata Motors Ltd. DVR Auto 1.21Aurobindo Pharma Ltd. Pharmaceuticals 1.11Solar Industries India Ltd. chemicals 1.10Gujarat Pipavav Port Ltd. Transportation 1.09IcIcI Prudential Life Insurance company Ltd. Finance 1.00Sadbhav engineering Ltd. construction Project 0.88Tata Motors Ltd. Auto 0.80Kalpataru Power Transmission Ltd. Power 0.73eclerx Services Ltd. Software 0.72Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.59GlaxoSmithkline consumer Healthcare Ltd.


Max Financial Services Ltd. Finance 0.56Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.48Persistent Systems Ltd. Software 0.40Rallis India Ltd. Pesticides 0.36ITD cementation India Ltd. construction 0.34cG Power & Industrial Solutions Ltd. Industrial capital Goods 0.34Sadbhav Infrastructure Project Ltd.(corporate Guarantee of Sadbhav engineering Ltd.) construction Project 0.34


BeML Ltd. Industrial capital Goods 0.30HSIL Ltd. consumer Durables 0.26Dynamatic Technologies Ltd. Auto Ancillaries 0.21Indostar capital Finance Ltd. Finance 0.20Hindustan construction company Ltd. construction Project 0.18IcIcI Securities Ltd. Finance 0.14Blue Dart express Ltd. Transportation 0.12MPS Ltd. consumer Non Durables 0.07KEc International Ltd. construction Project 0.06Siti Networks Ltd. Media & entertainment 0.05Ambuja cements Ltd. cement 0.02Nestle India Ltd. consumer Non Durables @Sub Total 96.36cash, cash Equivalents and Net current Assets 3.64

grand Total 100.00• Top Ten Holdings, @ Less than 0.01%

0.020.050.210.260.340.361.101.211.901.992.013.253.80

5.415.465.745.976.18

12.2313.18

25.69

0 5 10 15 20 25 30

CementMedia & Entertainment

Auto AncillariesConsumer Durables

ConstructionPesticidesChemicals

TransportationFinance

Industrial Capital GoodsAuto

Ferrous MetalsNon - Ferrous Metals

Consumer Non DurablesPharmaceuticals

Construction ProjectGas

Petroleum ProductsPower

SoftwareBanks



(An Open-ended Equity Linked Savings Scheme with a statutory lock in of 3 years and tax benefit) HDFC TaxSaver


l INVESTMENT OBjECTIVE

To generate capital appreciation / income from a portfolio of equity & equity related instruments and debt and money market instruments. There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: children’s Fund

l FUnD MAnAGER ¥

Chirag Setalvad (since April 2, 07) Total experience - Over 21 years

l InCEPTIon DATE (Date of Allotment)

March 2, 2001

NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)

Regular Plan 112.501Direct Plan 117.896

ASSETS UnDER MAnAGEMEnT (`) IN CRORE

As on October 31, 2018 2,326.33Average for Month of October, 2018 2,281.19

l qUAnTITATIVE DATA

Portfolio Turnover Ratio (Last 1 year) 2.71%Average Maturity * 4.01 yearsMacaulay Duration * 2.58 yearsModified Duration * 2.45 yearsYield to Maturity * 7.59%* computed on the invested amount for debt portfolio.

TOTAL ExPENSE RATIO (As on October 31, 2018)Including Additional expenses and Goods and Service Tax on Management Fees

Regular: 2.26% Direct: 1.33%



l EXIT LoAD

Nil

l PLANS & OPTIONS

Regular Plan, Direct Plan.

l MINIMUM APPLICATION AMOUNT

Purchase : ` 5,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.

l REDEMPTIon PRoCEEDS

Normally despatched within 3-4 Business Days (Redemption is subject to completion of Lock-in Period, if opted).

l LoCK-In PERIoD

Fresh investments by investors including SIP/ STP registrations, etc (effective May 23, 2018):Lock-in period will be compulsory. Lock-in period shall be earlier ofl 5 Years from the date of allotment; orl Until the Unit holder (being the beneficiary child) attains

the age of majority (i.e. completion of 18 years)(¥) Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience - Over 14 years).

(Ω) Eligibility (of Unit holder) : children less than 18 years of age as on the date of investment by the Investor / Applicant are eligible as Unit holders in the Scheme. (π) Personal Accident Insurance cover for Parent / Legal Guardian (upto the age of 80 years) of the Unit holder, equivalent to 10 times the cost value of the outstanding Units held by the Unit holder under all the applications / account statements / folios, subject to a maximum amount of ` 10 lakhs per Unit holder. The insurance premium in respect of the personal accident insurance cover will be borne by the AMc. This accident insurance cover is subject to conditions of the group personal accident insurance policy.


PORTFOLIO








• Bajaj Finance Ltd. Finance 2.05


• NIIT Technologies Ltd. Software 2.02

Britannia Industries Ltd. consumer Non Durables 1.94

Housing Development Finance corporation Ltd. £ Finance 1.83


Motherson Sumi Systems Ltd. Auto Ancillaries 1.47


Finolex Industries Ltd. Industrial Products 1.23

Schaeffler India Ltd. Industrial Products 1.20

Voltas Ltd. construction Project 1.16


AIA engineering Ltd. Industrial Products 1.13

cholamandalam Investment and Finance company Ltd. Finance 1.09








Supreme Industries Ltd. Industrial Products 0.84




Indian Bank Banks 0.76




Bharti Infratel Ltd. Telecom - equipment And Accessories 0.72


Sonata Software Ltd. Software 0.71

VST Industries Ltd. consumer Non Durables 0.70

eIH Ltd. Hotels, Resorts & Other Recreational Activities 0.70


Swaraj engines Ltd. Industrial Products 0.67

Larsen & Toubro Infotech Ltd. Software 0.62


Vesuvius India Ltd. Industrial Products 0.57

Navneet education Ltd. Media & entertainment 0.55



V.S.T Tillers Tractors Ltd. Auto 0.51


century Plyboards (India) Ltd. consumer Durables 0.50

IPcA Laboratories Ltd. Pharmaceuticals 0.48

Mcleod Russel India Ltd. consumer Non Durables 0.47

Blue Star Ltd. consumer Durables 0.47

Nilkamal Ltd. Industrial Products 0.40




Bayer cropscience Ltd. Pesticides 0.35

eclerx Services Ltd. Software 0.35

Rallis India Ltd. Pesticides 0.33

Jagran Prakashan Ltd. Media & entertainment 0.32


IFB Industries Ltd. consumer Durables 0.24

crompton Greaves consumer electricals Ltd. consumer Durables 0.18

Persistent Systems Ltd. Software 0.16

Bharat Heavy electricals Ltd. Industrial capital Goods 0.16


cRISIL Ltd. Finance 0.12


Jyoti Structures Ltd. Power 0.01

Sub Total 66.04

[An open ended fund for investment for children having a lock-in for at least 5 years or till the child attains age of majority (whichever is earlier)] Ω πHDFC Children’s Gift Fund


SIP PERFORMANCE^ - Regular Plan - Growth OptionSince Inception SIP 15 year SIP 10 year SIP 5 Year SIP 3 Year SIP 1 Year SIP

Total Amount Invested (` ‘000) 2,120.00 1,800.00 1,200.00 600.00 360.00 120.00

Mkt Value As on October 31, 2018 (` ‘000) $ 10,228.89 6,080.91 2,677.73 785.86 408.87 116.36

Returns (Annualised) (%) $ 15.85 14.84 15.33 10.73 8.45 -5.58

Benchmark Returns (Annualised) (%) # N.A. 10.95 10.25 8.81 8.19 -1.26

Addl. Benchmark Ret. (Annualised) (%) ## 14.40 12.26 11.41 9.67 9.78 -3.97 Assuming 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return) for Regular Plan - Growth Option. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. N.A. Not Available.


Returns (%) $

Benchmark Returns

(%)#


Returns(%) ##


Scheme (`) $

Benchmark (`)#

Additional Benchmark(`)##

Oct 31, 17 Last 1 Year -1.13 2.10 1.91 9,887 10,210 10,191

Oct 30, 15 Last 3 Years 10.35 9.08 10.22 13,443 12,985 13,396

Oct 31, 13 Last 5 Years 15.84 10.78 11.89 20,864 16,691 17,546

Mar 02, 01 Since Inception 16.39 N.A. 14.08 146,251 N.A. 102,697

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments. $ Adjusted for Bonus units declared under the Scheme. For performance of other schemes managed by chirag Setalvad, please refer page 48. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.

equity 66.04G-Sec 10.92credit Exposure 6.14cash, cash Equivalents and Net current Assets 16.90




l capital appreciation over long term.

l investment in equity and equity related instruments as well as debt and money market instruments.

Riskometer


~ Investors should consult their financial advisers if in doubt about whether the product is suitable for them. ^Past performance may or may not be sustained in the future. Load is not taken into consideration for computation of performance.


equity 66.04Sovereign 10.92AAA/AAA(SO)/A1+/A1+(SO) & equivalent 1.62AA+ 4.52cash, cash Equivalents and Net current Assets 16.90


PORTFOLIO


DEBT & DEBT RELATED


• 8.28 GOI 2027 Sovereign 1.98















Sub Total 10.92

CREDIT EXPoSURE

• Axis Bank Ltd. cRISIL - AA+ 4.06



Power Finance corporation Ltd. cRISIL - AAA 0.09

Sub Total 6.14


grand Total 100.00


HDFC Children’s Gift Fund[An open ended fund for investment for children having a lockin for at least 5 years or till the child attains age of majority (whichever is earlier)] Ω π ....Contd from previous page

0.16

0.38

0.67

0.72

0.77

0.84

0.87

0.87

1.39

1.78

1.84

2.11

2.38

3.11

3.78

3.81

4.29

5.94

7.99

8.21

14.13

0 2 4 6 8 10121416


Telecom - Services

Construction

Telecom - Equipment And Accessories

Power


Media & Entertainment

Ferrous Metals

Consumer Durables

Auto

Pesticides

Hotels, Resorts & Other Recreational Activities

Auto Ancillaries



Pharmaceuticals

Petroleum Products

Finance

Industrial Products

Software

Banks


l INVESTMENT OBjECTIVEThe investment objective of the Scheme is to provide long-term capital appreciation/income by investing in a mix of equity and debt instruments to help investors meet their retirement goals. There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Retirement Fund

l FUnD MAnAGER ¥

Chirag Setalvad (Equities) (since February 25, 2016) Total experience - Over 21 years &Shobhit Mehrotra (Debt) (since February 25, 2016) Total experience: Over 25 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan 15.754Direct Plan 16.458





l EXIT LoADUpon completion of lock-in period: Nil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan offers Growth Option only.


l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days (Redemption is subject to completion of Lock-in Period, if opted).

l LoCK-In PERIoDExisting investments by investors including SIP / STP registrations, etc (until June 1, 2018):Units purchased cannot be assigned / transferred / pledged / redeemed / switched out until completion of 5 years from the date of allotment of Units under the Scheme. Fresh investments by investors including SIP / STP registrations, etc (effective June 2, 2018): Units purchased cannot be assigned / transferred / pledged / redeemed / switched out until completion of 5 years from the date of allotment of Units or Retirement Age of Unit holder (i.e. completion of 60 years), whichever is earlier.¥ Dedicated Fund Manager for Overseas Investments:

Mr Rakesh Vyas (Total experience - Over 14 years).



Returns (%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -4.90 -3.17 1.91 9,510 9,683 10,191Feb 25, 16 Since Inception 18.47 18.03 17.72 15,754 15,601 15,489

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by chirag Setalvad (equities) and Shobhit Mehrotra (Debt), please refer page 51. The Scheme is in existence for more than 1 year but less than 3 years. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 64.

This product is suitable for investors who are seeking ~l a corpus to provide for pension in the form of income to the

extent of the redemption value of their holding after the age of 60 years.

l investment predominantly in equity and equity related instruments.

Riskometer





Finance corporation Ltd.£ Finance 4.47• IcIcI Bank Ltd. Banks 4.15• Larsen & Toubro Ltd. construction Project 3.42• Infosys Ltd. Software 3.30• carborundum Universal Ltd. Industrial Products 2.12• Aurobindo Pharma Ltd. Pharmaceuticals 1.92KEc International Ltd. construction Project 1.82State Bank of India Banks 1.79Aarti Industries Ltd. chemicals 1.63Mahindra Holidays & Resorts India Ltd.


chambal Fertilizers & chemicals Ltd. Fertilisers 1.54NIIT Technologies Ltd. Software 1.49Finolex Industries Ltd. Industrial Products 1.43Sharda cropchem Ltd. Pesticides 1.37Atul Ltd. chemicals 1.36The Indian Hotels company Ltd. Hotels, Resorts & Other

Recreational Activities 1.33Mcleod Russel India Ltd. consumer Non Durables 1.32cholamandalam Investment and Finance company Ltd. Finance 1.31TV Today Network Ltd. Media & entertainment 1.27Power Grid corporation of India Ltd. Power 1.27UPL Ltd. Pesticides 1.26Axis Bank Ltd. Banks 1.20Hexaware Technologies Ltd. Software 1.16Oriental carbon & chemicals Ltd. chemicals 1.11Indusind Bank Ltd. Banks 1.07IFB Industries Ltd. consumer Durables 1.06Nilkamal Ltd. Industrial Products 1.04Voltas Ltd. construction Project 1.04Vedanta Ltd. Non - Ferrous Metals 1.03eIH Ltd. Hotels, Resorts & Other

Recreational Activities 0.95Hindustan Petroleum corporation Ltd. Petroleum Products 0.94city Union Bank Ltd. Banks 0.92Redington (India) Ltd. Transportation 0.88GNA Axles Ltd. Auto Ancillaries 0.83Tata Steel Ltd. Ferrous Metals 0.81TI Financial Holdings Ltd. Finance 0.81Yes Bank Ltd. Banks 0.81SKF India Ltd. Industrial Products 0.80Tamil Nadu Newsprint & Papers Ltd. Paper 0.68Mahanagar Gas Ltd. Gas 0.67Tata Metaliks Ltd. Ferrous Metals 0.67Apar Industries Ltd. Industrial capital Goods 0.63Zensar Technologies Ltd. Software 0.58Maruti Suzuki India Ltd. Auto 0.57Blue Star Ltd. consumer Durables 0.57IPcA Laboratories Ltd. Pharmaceuticals 0.56


KeI Industries Ltd. Industrial Products 0.53Kalpataru Power Transmission Ltd. Power 0.51Tube Investments of India Ltd. Auto Ancillaries 0.49Bajaj electricals Ltd. consumer Durables 0.45Bank of Baroda Banks 0.45Divi's Laboratories Ltd. Pharmaceuticals 0.39Jagran Prakashan Ltd. Media & entertainment 0.35Tata Motors Ltd. DVR Auto 0.33cipla Ltd. Pharmaceuticals 0.32Timken India Ltd. Industrial Products 0.32cG Power & Industrial Solutions Ltd.


Kirloskar Oil engines Ltd. Industrial Products 0.26BeML Ltd. Industrial capital Goods 0.25Oil & Natural Gas corporation Ltd. Oil 0.21Greenply Industries Ltd. consumer Durables 0.04Sub Total 80.90DEBT & DEBT RELATEDgOVERNMENT SECURITIES• 6.84 GOI 2022 Sovereign 4.54• 7.59 GOI 2026 Sovereign 2.76Sub Total 7.30CREDIT EXPoSURE Syndicate Bank cARE - AA- 0.65Union Bank of India cARE - AA- 0.52Sub Total 1.17cash, cash Equivalents and Net current Assets 10.63

grand Total 100.00


PORTFOLIO

0.210.670.680.880.901.031.181.321.321.481.541.621.782.122.633.193.904.10

5.986.286.506.536.59

18.47

0 2 4 6 8 101214161820

OilGas

PaperTransportation

AutoNon - Ferrous Metals


Auto AncillariesFerrous Metals

FertilisersMedia & Entertainment

PowerConsumer Durables

PesticidesPharmaceuticals

Hotels, Resorts & Other Recreational ActivitiesChemicals

Petroleum ProductsConstruction Project

Industrial ProductsSoftware

FinanceBanks



HDFC Retirement Savings Fund - Equity Plan(A notified Tax Savings Cum Pension Scheme)

An open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier)




l FUnD MAnAGER ¥










l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan offers Growth Option only.l MINIMUM APPLICATION AMOUNTPurchase : ` 5,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.






Returns (%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -1.02 2.10 1.91 9,898 10,210 10,191Feb 25, 16 Since Inception 17.68 14.14 17.72 15,475 14,258 15,489

Returns greater than 1 year period are compounded annualized (cAGR). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. The Scheme is in existence for more than 1 year but less than 3 years. For performance of other schemes managed by chirag Setalvad (equities) and Shobhit Mehrotra (Debt), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 64.



l investment predominantly in equity and equity related instruments & balance in debt and money market instruments.

Riskometer





Finance corporation Ltd.£ Finance 4.09• IcIcI Bank Ltd. Banks 3.32• Infosys Ltd. Software 3.15• Merck Ltd. Pharmaceuticals 2.82NIIT Technologies Ltd. Software 2.29Larsen & Toubro Ltd. construction Project 2.25Aarti Industries Ltd. chemicals 1.88Sundram Fasteners Ltd. Auto Ancillaries 1.75Aurobindo Pharma Ltd. Pharmaceuticals 1.51State Bank of India Banks 1.37city Union Bank Ltd. Banks 1.32Power Grid corporation of India Ltd. Power 1.19Oriental carbon & chemicals Ltd. chemicals 1.16UPL Ltd. Pesticides 1.16carborundum Universal Ltd. Industrial Products 1.16cholamandalam Investment and Finance company Ltd. Finance 1.09The Indian Hotels company Ltd. Hotels, Resorts & Other

Recreational Activities 1.07Shaily engineering Plastics Ltd. Industrial capital Goods 1.07crompton Greaves consumer electricals Ltd. consumer Durables 1.05Axis Bank Ltd. Banks 1.03chambal Fertilizers & chemicals Ltd. Fertilisers 0.96Shree Pushkar chemicals & Fertilisers Limited chemicals 0.94Mahindra Holidays & Resorts India Ltd.


Blue Star Ltd. consumer Durables 0.84Tata Steel Ltd. Ferrous Metals 0.83TI Financial Holdings Ltd. Finance 0.79Mahanagar Gas Ltd. Gas 0.78Voltas Ltd. construction Project 0.76KEc International Ltd. construction Project 0.74Sonata Software Ltd. Software 0.73Vedanta Ltd. Non - Ferrous Metals 0.73Bajaj electricals Ltd. consumer Durables 0.72Nilkamal Ltd. Industrial Products 0.70SKF India Ltd. Industrial Products 0.66Maruti Suzuki India Ltd. Auto 0.65MRF Ltd. Auto Ancillaries 0.63Bharti Infratel Ltd. Telecom - equipment

And Accessories 0.58Zensar Technologies Ltd. Software 0.58Indusind Bank Ltd. Banks 0.56Apar Industries Ltd. Industrial capital Goods 0.54Yes Bank Ltd. Banks 0.52Kalpataru Power Transmission Ltd. Power 0.49Tamil Nadu Newsprint & Papers Ltd. Paper 0.48Tube Investments of India Ltd. Auto Ancillaries 0.48Vesuvius India Ltd. Industrial Products 0.46Bank of Baroda Banks 0.43Redington (India) Ltd. Transportation 0.35


Divi's Laboratories Ltd. Pharmaceuticals 0.34Hindustan Petroleum corporation Ltd. Petroleum Products 0.33Jagran Prakashan Ltd. Media & entertainment 0.30Sadbhav engineering Ltd. construction Project 0.29Kirloskar Oil engines Ltd. Industrial Products 0.27cipla Ltd. Pharmaceuticals 0.26Greenply Industries Ltd. consumer Durables 0.26Tata Motors Ltd. DVR Auto 0.24BeML Ltd. Industrial capital Goods 0.22Sub Total 66.04DEBT & DEBT RELATEDgOVERNMENT SECURITIES• 6.84 GOI 2022 Sovereign 4.78• 6.35 GOI 2020 Sovereign 2.437.68 GOI 2023 Sovereign 1.477.37 GOI 2023 Sovereign 1.218.27 GOI 2020 Sovereign 0.05Sub Total 9.94CREDIT EXPoSURE • Jamnagar Utilities & Power

Pvt. Ltd. cRISIL - AAA 4.78• State Bank of India cRISIL - AA+ 4.10Syndicate Bank cARE - AA- 1.72Reliance Jio Infocomm Ltd. cRISIL - AAA 1.22Sub Total 11.82cash, cash Equivalents and Net current Assets 12.20grand Total 100.00• Top Ten Holdings, £ co-sponsor

PORTFOLIO

0.300.350.480.580.730.780.830.890.961.161.681.831.912.862.873.253.984.044.724.93

5.976.75

14.19

0 2 4 6 8 10 1214Media & Entertainment

TransportationPaper

Telecom - Equipment And AccessoriesNon - Ferrous Metals

GasFerrous Metals

AutoFertilisersPesticides

PowerIndustrial Capital Goods

Hotels, Resorts & Other Recreational ActivitiesAuto Ancillaries

Consumer DurablesIndustrial Products

ChemicalsConstruction ProjectPetroleum Products

PharmaceuticalsFinance

SoftwareBanks

16




n equity 66.04

n G-Sec 9.94





A1+(S0) & Equivalent 6.00n AA+ 4.10n AA/AA- 1.72n cash, cash Equivalents and


HDFC Retirement Savings Fund - Hybrid Equity Plan(A notified Tax Savings Cum Pension Scheme)





l FUnD MAnAGER ¥





l qUAnTITATIVE DATAAverage Maturity * 3.30 yearsMacaulay Duration * 2.82 yearsModified Duration * 2.64 yearsYield to Maturity * 8.58%* computed on the invested amount for debt portfolio.



l ##ADDL. BEnCHMARK InDEX: cRISIL 10 Year Gilt Index


l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan offers Growth Option only.l MINIMUM APPLICATION AMOUNTPurchase : ` 5,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.






Returns (%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -1.27 1.86 -0.47 9,873 10,186 9,953Feb 26, 16 Since Inception 8.56 8.69 5.80 12,462 12,503 11,632

Returns greater than 1 year period are compounded annualized (cAGR). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. The Scheme is in existence for more than 1 year but less than 3 years. For performance of other schemes managed by chirag Setalvad (equities) and Shobhit Mehrotra (Debt), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 64.



l investment predominantly in debt and money market instruments & balance in equity and equity related instruments.

Riskometer







Sundram Fasteners Ltd. Auto Ancillaries 1.04

NIIT Technologies Ltd. Software 0.81

Reliance Industries Ltd. Petroleum Products 0.76

Aarti Industries Ltd. chemicals 0.75

Infosys Ltd. Software 0.70

Orient Refractories Ltd. Industrial Products 0.68

city Union Bank Ltd. Banks 0.66



Avanti Feeds Ltd. consumer Non Durables 0.53

Mahanagar Gas Ltd. Gas 0.53

Time Technoplast Ltd. Industrial Products 0.50

Blue Star Ltd. consumer Durables 0.50

Oriental carbon & chemicals Ltd. chemicals 0.49


GNA Axles Ltd. Auto Ancillaries 0.47

Bajaj electricals Ltd. consumer Durables 0.43



Vesuvius India Ltd. Industrial Products 0.41

Larsen & Toubro Ltd. construction Project 0.38

Nilkamal Ltd. Industrial Products 0.37










Timken India Ltd. Industrial Products 0.28





Tamil Nadu Newsprint & Papers Ltd. Paper 0.23

Poddar Pigments Ltd. chemicals 0.20


BeML Ltd. Industrial capital Goods 0.18

Kirloskar Oil engines Ltd. Industrial Products 0.17



Sub Total 19.54

DEBT & DEBT RELATED


• 7.37 GOI 2023 Sovereign 13.11

• 7.68 GOI 2023 Sovereign 12.39


Sub Total 34.30

CREDIT EXPoSURE

• Starlite Lighting Ltd. (corporate Guarantee of Bajaj electrical Ltd.) IcRA - A+(SO) 8.37

• State Bank of India cRISIL - AA+ 7.85

• Jamnagar Utilities & Power Pvt. Ltd. cRISIL - AAA 4.32

• Syndicate Bank cARE - AA- 3.56

• Reliance Jio Infocomm Ltd. cRISIL - AAA 3.36

• Union Bank of India cARE - AA- 3.30

Sub Total 30.76


grand Total 100.00


PORTFOLIO



n equity 19.54

n G-Sec 34.30





A1+(S0) & Equivalent 7.68n AA+ 7.85n AA/AA- 6.86n A+ & Below 8.37n cash, cash Equivalents and


HDFC Retirement Savings Fund - Hybrid Debt Plan(A notified Tax Savings Cum Pension Scheme)



l INVESTMENT OBjECTIVETo provide capital appreciation by investing in equity & equity related instruments, Arbitrage opportunities, and Debt & money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Equity Savings Fund

l FUnD MAnAGER ¥

Vinay kulkarni (equities) (since November 21, 06) Total experience: Over 29 years Krishan Kumar Daga (equities) (since January 08, 16) Total experience: Over 22 yearsAnil Bamboli (Debt) (since September 17, 04) Total experience: Over 23 years




l qUAnTITATIVE DATAPortfolio Turnover Ratio 66.15%Average Maturity * 1.68 yearsMacaulay Duration * 1.51 yearsModified Duration * 1.39 yearsYield to Maturity * 8.78%* computed on the invested amount for debt portfolio.


l #BEnCHMARK InDEX: 40% NIFTY 50 Arbitrage Index, 30% cRISIL Short Term Bond Fund Index and 30% NIFTY 50 (Total Returns Index)


l EXIT LoADl In respect of each purchase / switch-in of Units, upto 15%









¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience - Over 14 years).

This product is suitable for investors who are seeking ~l capital appreciation while generating income over medium to

long term.l provide capital appreciation and income distribution to the

investors by using equity and equity related instruments, arbitrage opportunities, and investments in debt and money market instruments.

Riskometer



SIP PERFORMANCE^ - Regular Plan - Growth OptionSince Inception SIP 10 year SIP 5 Year SIP 3 Year SIP 1 Year SIP

Total Amount Invested (` ‘000) 1,700.00 1,200.00 600.00 360.00 120.00 Mkt Value As on October 31, 2018 (` ‘000) 3,431.88 1,950.53 745.29 404.59 120.06 Returns (Annualised) (%) 9.34 9.39 8.61 7.73 0.10 Benchmark Returns (Annualised) (%) # N.A. N.A. 7.49 6.89 2.67 Addl. Benchmark Ret. (Annualised) (%) ## 11.66 11.41 9.67 9.78 -3.97

Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return) for Regular Plan - Growth Option. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. N.A. Not Available.

PERFORMANCE^ - Regular Plan - Growth OptionDate Period^^ Scheme

Returns (%)

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`) Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year 1.23 4.09 1.91 10,123 10,409 10,191Oct 30, 15 Last 3 Years 10.12 7.46 10.22 13,361 12,413 13,396Oct 31, 13 Last 5 Years 9.88 8.81 11.89 16,018 15,256 17,546Sep 17, 04 Since Inception 9.28 N.A. 14.96 35,056 N.A. 71,664

^^Effective December 16, 2015, certain changes, including changes to fundamental attributes, were effected in the erstwhile HDFc Multiple Yield Fund, (an open ended income scheme) which was renamed as HDFc Equity Savings Fund, an open ended equity scheme. On account of these changes, the performance during the period(s) from September 17, 2004 to December 15, 2015 is not comparable.Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark, since a portion of scheme’s investments are made in debt instruments. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. Load is not taken into consideration for computation of performance. For performance of other schemes managed by Vinay Kulkarni (Equities), Krishan Kumar Daga (Equities) and Anil Bamboli (Debt), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 63.^Past performance may or may not be sustained in the future. Load is not taken into consideration for computation of performance.

0.020.020.110.130.240.430.470.500.720.730.800.840.930.99

1.341.401.451.771.78

2.183.17

4.044.16

7.60

0 1 2 3 4 5 6 7 8

Media & EntertainmentRetailing

PaperAuto Ancillaries

Minerals/MiningConstruction

TransportationChemicals

OilIndustrial Capital Goods

CementFinance

PesticidesAuto

Consumer Non DurablesPharmaceuticals

Non - Ferrous MetalsGas

Ferrous MetalsConstruction ProjectPetroleum Products

SoftwarePowerBanks


Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of October 31, 2018 unless otherwise specified. ...contd on next page

PORTFOLIO Company Industry+ / Rating % to NAV

(Hedged & Unhedged)


EqUITY & EqUITY RELATED• IcIcI Bank Ltd. Banks 3.80 0.64• Reliance Industries Ltd. Petroleum Products 3.43 0.38• Housing Development Finance corporation

Ltd.£ Finance 3.17 3.17• NTPc Ltd. Power 3.07 0.00• Infosys Ltd. Software 3.02 0.06• Tata Steel Ltd. Ferrous Metals 2.53 0.75• HDFc Bank Ltd. Banks 2.50 0.18GAIL (India) Ltd. Gas 2.07 0.31Larsen & Toubro Ltd. construction Project 2.04 0.01State Bank of India Banks 1.91 0.15Aurobindo Pharma Ltd. Pharmaceuticals 1.61 1.11Vedanta Ltd. Non - Ferrous Metals 1.45 0.00ITc Ltd. consumer Non Durables 1.33 0.00



JSW Steel Ltd. Ferrous Metals 1.31 1.31Mahindra & Mahindra Ltd. Auto 1.10 0.49Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.09 1.09Yes Bank Ltd. Banks 0.88 0.88Shriram Transport Finance company Ltd. Finance 0.79 0.79UPL Ltd. Pesticides 0.77 0.04Tata Motors Ltd. Auto 0.77 0.55Dr. Reddy's Laboratories Ltd. Pharmaceuticals 0.73 0.73Oil & Natural Gas corporation Ltd. Oil 0.72 0.00Hindalco Industries Ltd. Non - Ferrous Metals 0.72 0.72LIc Housing Finance Ltd. Finance 0.69 0.49Maruti Suzuki India Ltd. Auto 0.68 0.68Indiabulls Housing Finance Ltd. Finance 0.67 0.67Bharti Airtel Ltd. Telecom - Services 0.63 0.63Power Grid corporation of India Ltd. Power 0.59 0.00

(An open ended scheme investing in equity, arbitrage and debt)HDFC Equity Savings Fund






PORTFOLIO

HDFC Equity Savings Fund (An open ended scheme investing in equity, arbitrage and debt) ....Contd from previous page

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, cD - certificate of Deposit; cP - commercial Papers. Data is as of October 31, 2018 unless otherwise specified.



Axis Bank Ltd. Banks 0.58 0.44Jubilant Foodworks Ltd. consumer Non Durables 0.57 0.57DLF Ltd. construction 0.56 0.56Acc Ltd. cement 0.55 0.00Tech Mahindra Ltd. Software 0.52 0.52Titan company Ltd. consumer Durables 0.47 0.47Bajaj Finance Ltd. Finance 0.47 0.47Steel Authority of India Ltd. Ferrous Metals 0.47 0.47Multi commodity Exchange of India Ltd. Finance 0.44 0.44Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.44 0.07Ambuja cements Ltd. cement 0.44 0.23Newgen Software Technologies Ltd. Software 0.43 0.00Rural Electrification corporation Ltd. Finance 0.42 0.42Tata Global Beverages Ltd. consumer Non Durables 0.42 0.41cipla Ltd. Pharmaceuticals 0.41 0.02United Spirits Ltd. consumer Non Durables 0.38 0.38Tata chemicals Ltd. chemicals 0.38 0.00Gujarat Pipavav Port Ltd. Transportation 0.38 0.00L&T Technology Services Ltd. Software 0.37 0.00Mahindra & Mahindra Financial Services Ltd. Finance 0.37 0.37Hero Motocorp Ltd. Auto 0.36 0.36Ashok Leyland Ltd. Auto 0.34 0.34capital First Ltd. Finance 0.33 0.33escorts Ltd. Auto 0.32 0.32Tata Motors Ltd. DVR Auto 0.30 0.16The Federal Bank Ltd. Banks 0.29 0.29JMc Projects (India) Ltd. construction 0.26 0.00eclerx Services Ltd. Software 0.26 0.00Petronet LNG Ltd. Gas 0.26 0.25Strides Pharma Science Ltd. Pharmaceuticals 0.25 0.25Grasim Industries Ltd. cement 0.25 0.25Texmaco Rail & engineering Ltd. Industrial capital Goods 0.25 0.00Adani Power (Mundra) Ltd. (Secured by Shares of Adani Port & SeZ Ltd.) Power 0.25 0.25coal India Ltd. Minerals/Mining 0.24 0.00Zee entertainment enterprises Ltd. Media & entertainment 0.24 0.24NHPc Ltd. Power 0.24 0.00eicher Motors Ltd. Auto 0.23 0.23Jindal Steel & Power Ltd. Ferrous Metals 0.23 0.23SBI Life Insurance company Ltd. Finance 0.23 0.00Dabur India Ltd. consumer Non Durables 0.23 0.23cESc Ltd. Power 0.22 0.00Britannia Industries Ltd. consumer Non Durables 0.21 0.21Raymond Ltd. Textile Products 0.20 0.20Rallis India Ltd. Pesticides 0.20 0.00Havells India Ltd. consumer Durables 0.20 0.20L&T Finance Holdings Ltd. Finance 0.19 0.19Indostar capital Finance Ltd. Finance 0.19 0.00ABB India Ltd. Industrial capital Goods 0.19 0.00century Textiles & Industries Ltd. cement 0.18 0.18Bank of Baroda Banks 0.17 0.00Tata communications Ltd. Telecom - Services 0.17 0.17Tata Power company Ltd. Power 0.17 0.17ITD cementation India Ltd. construction 0.17 0.00equitas Holdings Ltd. Finance 0.16 0.16cadila Healthcare Ltd. Pharmaceuticals 0.16 0.16Ncc Ltd. construction Project 0.15 0.15IcIcI Prudential Life Insurance company Ltd. Finance 0.14 0.14Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.14 0.00Tata consultancy Services Ltd. Software 0.14 0.14Tata elxsi Ltd. Software 0.14 0.14Bharat electronics Ltd. Industrial capital Goods 0.13 0.08Apollo Tyres Ltd. Auto Ancillaries 0.13 0.00Bharat Petroleum corporation Ltd. Petroleum Products 0.13 0.01Godrej consumer Products Ltd. consumer Non Durables 0.13 0.13Power Finance corporation Ltd. Finance 0.12 0.00Titagarh Wagons Ltd. Industrial capital Goods 0.12 0.00Gujarat State Fertilizers & chemicals Ltd. Fertilisers 0.12 0.12Galaxy Surfactants Ltd chemicals 0.12 0.00Motherson Sumi Systems Ltd. Auto Ancillaries 0.11 0.11Bharat Financial Inclusion Ltd. Finance 0.11 0.11Ashoka Buildcon Ltd. construction Project 0.11 0.00Mahanagar Gas Ltd. Gas 0.11 0.11India cements Ltd. cement 0.11 0.11Wockhardt Ltd. Pharmaceuticals 0.11 0.11Arvind Ltd. Textile Products 0.11 0.11Tamil Nadu Newsprint & Papers Ltd. Paper 0.11 0.00Reliance Nippon Life Asset Management Ltd. Finance 0.10 0.00Hexaware Technologies Ltd. Software 0.10 0.10Ujjivan Financial Services Ltd. Finance 0.10 0.10IRB Infrastructure Developers Ltd. construction 0.10 0.10IDFc Bank Ltd. Banks 0.10 0.10Jain Irrigation Systems Ltd. Industrial Products 0.10 0.10container corporation of India Ltd. Transportation 0.09 0.00Vodafone Idea Ltd Telecom - Services 0.09 0.09Reliance Power Ltd. Power 0.08 0.08Biocon Ltd. Pharmaceuticals 0.08 0.08centum Electronics Ltd. Industrial capital Goods 0.08 0.00HcL Technologies Ltd. Software 0.08 0.08United Breweries Ltd. consumer Non Durables 0.08 0.08Hindustan Unilever Ltd. consumer Non Durables 0.08 0.08IDFc Ltd. Finance 0.08 0.08Max Financial Services Ltd. Finance 0.07 0.07Godrej Industries Ltd. consumer Non Durables 0.06 0.06Hindustan Petroleum corporation Ltd. Petroleum Products 0.06 0.06MindTree Ltd. Software 0.06 0.06Dish TV India Ltd. Media & entertainment 0.06 0.06



Wipro Ltd. Software 0.06 0.06Balkrishna Industries Ltd. Auto Ancillaries 0.06 0.06Divi's Laboratories Ltd. Pharmaceuticals 0.06 0.06NMDc Ltd. Minerals/Mining 0.05 0.05Bajaj Auto Ltd. Auto 0.05 0.03ceat Ltd. Auto Ancillaries 0.05 0.05Punjab National Bank Banks 0.05 0.00castrol India Ltd. Petroleum Products 0.04 0.04PVR Ltd. Media & entertainment 0.04 0.04BeML Ltd. Industrial capital Goods 0.04 0.00MRF Ltd. Auto Ancillaries 0.04 0.04Orient cement Ltd. cement 0.04 0.00KEc International Ltd. construction Project 0.04 0.00Nestle India Ltd. consumer Non Durables 0.04 0.04Reliance Infrastructure Ltd. Power 0.04 0.04IDBI Bank Ltd. Banks 0.04 0.04Kalpataru Power Transmission Ltd. Power 0.04 0.00Reliance capital Ltd. Finance 0.04 0.04Karnataka Bank Ltd. Banks 0.03 0.03canFin Homes Ltd. Finance 0.03 0.03NBcc (India) Ltd. construction 0.03 0.03UltraTech cement Ltd. cement 0.02 0.02cholamandalam Investment and Finance company Ltd. Finance 0.02 0.02IFcI Ltd. Finance 0.02 0.02Granules India Ltd. Pharmaceuticals 0.02 0.02Bata India Ltd. consumer Durables 0.02 0.02RP-SG Business Process Services Software 0.02 0.00Adani Ports and Special economic Zone Ltd. Transportation 0.02 0.02Shree cement Ltd. cement 0.02 0.02RP-SG Retail Ltd Retailing 0.02 0.00S chand and company Ltd. Media & entertainment 0.02 0.00Godfrey Phillips India Ltd. consumer Non Durables 0.02 0.02SREI Infrastructure Finance Ltd. Finance 0.02 0.02Kotak Mahindra Bank Ltd. Banks 0.01 0.01Piramal enterprises Ltd. Pharmaceuticals 0.01 0.01Syndicate Bank Banks 0.01 0.01Lupin Ltd. Pharmaceuticals 0.01 0.01Bajaj Finserv Ltd. Finance 0.01 0.01The South Indian Bank Ltd. Banks 0.01 0.01Bosch Ltd. Auto Ancillaries @Indraprastha Gas Ltd. Gas @MPS Ltd. consumer Non Durables @Sub Total 66.73PREFERENCE SHARESZee entertainment enterprises Ltd. Media & entertainment @Sub Total @Total 66.73DEBT & DEBT RELATEDgOVERNMENT SECURITIES7.16 GOI 2023 Sovereign 0.99Sub Total 0.99MONEY MARkET INSTRUMENTSCD/CP Fullerton India credit company Ltd. IcRA - A1+ 0.72Sub Total 0.72CREDIT EXPoSURE • Housing Development Finance corporation

Ltd.£ cRISIL - AAA / IcRA - AAA 4.38• Punjab National Bank cARE - A+ 2.79• Power Finance corporation Ltd. cRISIL - AAA 2.34State Bank of India cRISIL - AA+ 2.29HDFc Bank Ltd. cRISIL - AA+ 1.46National Bank for Agriculture & Rural Development cRISIL - AAA 1.30Syndicate Bank cARE - AA- 1.20Mahindra & Mahindra Financial Services Ltd. cARE - AAA / FITcH - AAA 1.06Reliance Jio Infocomm Ltd. cRISIL - AAA / IcRA - AAA 1.06Rural Electrification corporation Ltd. cRISIL - AAA 0.86Union Bank of India FITcH - AA, AA- 0.75Shriram Transport Finance company Ltd. cRISIL - AA+ 0.36canara Bank cRISIL - AA 0.35Axis Bank Ltd. cRISIL - AA+ 0.35Aarish Solar Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.17LIc Housing Finance Ltd. cRISIL - AAA 0.14Power Grid corporation of India Ltd. cRISIL - AAA 0.14Bank of Baroda cARE - AA 0.14JM Financial Asset Reconstruction company Ltd. IcRA - AA- 0.01Sub Total 21.15Short Term Deposits as margin for Futures & Options 8.62cash, cash Equivalents and Net current Assets 1.79grand Total 100.00• Top Ten Holdings, £ co-sponsor , @ Less than 0.01%

Outstanding exposure in derivative instruments (` in crore) 2,134.65Hedged position in Equity & Equity related instrumentsOutstanding derivative exposure (% age) 31.00



To generate income / capital appreciation by investing primarily in debt securities, money market instruments and moderate exposure to equities.

There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: conservative Hybrid Fund

l FUnD MAnAGER ¥

Prashant jain (equities) (since December 26, 03) Total experience: Over 27 years &Shobhit Mehrotra (Debt) (since September 1, 07) Total experience: Over 25 years


December 26, 2003


Regular Plan - Growth Option 43.3689Regular Plan - Monthly Dividend Option 13.0259Regular Plan - Quarterly Dividend Option 13.7012Direct Plan - Growth Option 44.7044Direct Plan - Monthly Dividend Option 13.5442Direct Plan - Quarterly Dividend Option 14.2448







l ##ADDL. BEnCHMARK InDEX: cRISIL 10 year Gilt Index

l EXIT LoAD

l In respect of each purchase / switch-in of Units, 15% of the Units (“the limit”) may be redeemed without any exit load from the date of allotment.

l Any redemption in excess of the limit shall be subject to the following exit load:


l No exit load is payable if Units are redeemed / switched-out after 1 year from the date of allotment.


l PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan : Growth, Monthly Dividend & Quarterly Dividend Option. The Dividend Option offers Dividend Payout and Reinvestment facility.


Purchase: (Growth & Quarterly Dividend Option) - ` 5,000 and any amount thereafter. (Monthly Dividend Option) - ` 25,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.


Normally despatched within 3-4 Business Days.


Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, cD - certificate of Deposit; cP - commercial Papers. Data is as of October 31, 2018 unless otherwise specified.

PORTFOLIO













chambal Fertilizers & chemicals Ltd. Fertilisers 0.66




Power Finance corporation Ltd. Finance 0.63





MeP Infrastructure Developers Ltd. Transportation 0.52

canara Bank Banks 0.49


NHPc Ltd. Power 0.47



Rural electrification corporation Ltd. Finance 0.36

ITD cementation India Ltd. construction 0.34

Punjab National Bank Banks 0.33

Avenue Supermarts Ltd. Retailing 0.32

Syndicate Bank Banks 0.32

Texmaco Rail & engineering Ltd. Industrial capital Goods 0.28

Union Bank of India Banks 0.24

cG Power & Industrial Solutions Ltd.


corporation Bank Banks 0.14

Mishra Dhatu Nigam Ltd. Ferrous Metals 0.13




Jaiprakash Power Ventures Ltd. Power 0.02

Tata Motors Ltd. DVR Auto @

Rallis India Ltd. Pesticides @

Sub Total 25.39

DEBT & DEBT RELATED















8.10 SDL 2025 Sovereign 0.08


Sub Total 15.24

MONEY MARkET INSTRUMENTS

CD/CP

• Fullerton India credit company Ltd. IcRA - A1+ 4.28

Shriram Transport Finance company Ltd. cRISIL - A1+ 0.77

PNB Housing Finance Ltd. cRISIL - A1+ 0.30

Sub Total 5.35

CREDIT EXPoSURE


• Rural Electrification corporation Ltd. cARE - AAA / cRISIL - AAA 4.45

• Reliance Jio Infocomm Ltd. cRISIL - AAA / IcRA - AAA 4.21

• Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 3.19

• State Bank of India cRISIL - AA+, AAA 2.47

• Union Bank of India cARE - AA- / FITcH - AA, AA- 2.34


(An open-ended hybrid scheme investing predominantly in debt instruments)HDFC Hybrid Debt Fund




l to generate long-term income / capital appreciation

l investments primarily in debt securities, money market instruments and moderate exposure to equities

Riskometer



SIP PERFORMANCE^ - Regular Plan - Growth OptionSince Inception SIP 10 year SIP 5 Year SIP 3 Year SIP 1 Year SIP

Total Amount Invested (` ‘000) 1,790.00 1,200.00 600.00 360.00 120.00

Mkt Value As on October 31, 2018 (` ‘000) 3,875.99 1,908.05 715.91 386.62 119.57

Returns (Annualised) (%) 9.70 8.97 7.00 4.69 -0.67

Benchmark Returns (Annualised) (%) # 8.33 8.18 7.21 5.59 2.22

Addl. Benchmark Ret. (Annualised) (%) ## 6.03 5.99 5.64 3.22 3.93 Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return) for Regular Plan - Growth Option. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital.


Returns (%)

Benchmark Returns

(%)#


Returns (%) ##



Additional Benchmark (`)##

Oct 31, 17 Last 1 Year -2.33 1.86 -0.47 9,767 10,186 9,953

Oct 30, 15 Last 3 Years 6.87 7.02 5.44 12,211 12,263 11,726

Oct 31, 13 Last 5 Years 10.23 8.81 6.99 16,280 15,258 14,018

Dec 26, 03 Since Inception 10.38 7.96 5.19 43,369 31,209 21,218Returns greater than 1 year period are compounded annualized (cAGR). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. For performance of other schemes managed by Prashant Jain (Equities) and Shobhit Mehrotra (Debt), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 63.


(An open-ended hybrid scheme investing predominantly in debt instruments) ....Contd from previous pageHDFC Hybrid Debt Fund

note: Effective close of business hours of May 25, 2018, HDFc MF Monthly Income Plan – Long Term Plan (MIP-LTP) underwent changes in Fundamental Attributes and was renamed as HDFc Hybrid Debt Fund (HHDF) and HDFc MF Monthly Income Plan – Short Term Plan was merged therein. As the portfolio structuring of HHDF closely resembles the erstwhile MIP-LTP, the past performance of MIP-LTP is provided, in line with SeBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.

PORTFOLIO


Tata International Ltd. cARE - A+ 1.82

Housing Development Finance corporation Ltd. £ cRISIL - AAA 1.54


canara Bank IcRA - AA 1.48

Tata Realty and Infrastructure Ltd. cRISIL - AA 1.45


Hazaribagh Ranchi expressway Ltd. (NHAI Annuity)

cARE - AAA(SO) / FITcH - AAA(SO) 1.21

Tata Power company Ltd. cRISIL - AA- 1.12

Andhra Pradesh expressway Ltd.(NHAI Annuity) IcRA - AAA(SO) 0.96


Power Grid corporation of India Ltd. cRISIL - AAA 0.93

Indian Railway Finance corporation Ltd. cRISIL - AAA 0.90

Kotak Mahindra Bank Ltd. cRISIL - AAA 0.79

National Bank for Agriculture & Rural Development cRISIL - AAA 0.77

Bank of Baroda cARE - AA+ 0.76

Adani Transmission Ltd. FITcH - AA+ 0.55


Shriram city Union Finance Ltd. cARE - AA+ 0.37

Hindalco Industries Ltd. cRISIL - AA 0.31

EcL Finance Ltd. IcRA - A1+ 0.31

export - Import Bank of India cRISIL - AAA 0.32


LIc Housing Finance Ltd. cRISIL - AAA 0.30

Tata Steel Ltd. cARE - AA- 0.16

IIFL Home Finance Ltd. cRISIL - AA 0.16

Daimler Financial Services (I) Pvt Ltd. FITcH - AAA 0.09

Tata Motors Ltd. cARE - AA+ 0.07

Vedanta Ltd. cRISIL - AA 0.06

Bharati Telecom Limited cRISIL - AA+ 0.05

Asian Satellite Broadcast Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd.) BRIcKWORKS - A+(SO) 0.04

Sub Total 45.60


grand Total 100.00

• Top Ten Holdings, £ co-sponsor, @ Less than 0.01%


n equity 25.39

n G-Sec, SDL 15.24

n cD/cP 5.35








l INVESTMENT OBjECTIVETo generate income through arbitrage opportunities and debt & money market instruments.


l CATEGoRY oF SCHEME: Arbitrage Fund

l FUnD MAnAGER ¥

Krishan Kumar Daga (since September 10, 15) Total experience: Over 22 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Retail PlanRegular Plan - Growth Option 21.028Regular Plan - Dividend Option 15.618Regular Plan - Quarterly Dividend Option 14.946Direct Plan - Growth Option 21.634Direct Plan - Quarterly Dividend Option 16.393

Wholesale PlanRegular Plan - Growth Option 21.478Regular Plan - Dividend Option 10.433Regular Plan - Monthly Dividend Option 10.843Direct Plan - Growth Option 13.649Direct Plan - Dividend Option 10.777Direct Plan - Monthly Dividend Option 10.504




l #BEnCHMARK InDEX: NIFTY 50 Arbitrage Indexl ##ADDL. BEnCHMARK InDEX: NIFTY 50 (Total Returns Index)


Load of 0.25% is payable if Units are redeemed / switched-out within 1 month from the date of allotment.

l No exit Load is payable if Units are redeemed / switched-out after 1 month from the date of allotment.


l PLANS & OPTIONS(Wholesale Plan) - Regular Plan, (Wholesale Plan) - Direct Plan.Under each Plan : Growth & Dividend. Dividend Option offers Monthly Dividend Option and Normal Dividend Option with Payout and Reinvestment facility.

l MINIMUM APPLICATION AMOUNTPurchase/Additional Purchase: 1 lakh and any amount thereafter.


¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience: Over 14 years).


EqUITY & EqUITY RELATED (quantity fully hedged using Futures/options)

• Aurobindo Pharma Ltd. Pharmaceuticals 5.57

• Sun Pharmaceuticals Industries Ltd.

Pharmaceuticals 4.43


• Yes Bank Ltd. Banks 2.78



• Indiabulls Housing Finance Ltd. Finance 1.65



Steel Authority of India Ltd. Ferrous Metals 1.40

Tech Mahindra Ltd. Software 1.40

Titan company Ltd. consumer Durables 1.38

Dabur India Ltd. consumer Non Durables 1.32

Britannia Industries Ltd. consumer Non Durables 1.31

Shriram Transport Finance company Ltd.

Finance 1.22



Hindustan Unilever Ltd. consumer Non Durables 1.07

Nestle India Ltd. consumer Non Durables 1.07

Dr. Reddy's Laboratories Ltd. Pharmaceuticals 0.98

Adani enterprises Ltd. Trading 0.83


Housing Development Finance corporation Ltd. £

Finance 0.78


Ncc Ltd. construction Project 0.73


Multi commodity Exchange of India Ltd.

Finance 0.71

Zee entertainment enterprises Ltd.

Media And entertainment

0.68

ITc Ltd. consumer Non Durables

0.68


Ashok Leyland Ltd. Auto 0.66

Arvind Ltd. Textile Products 0.63

Strides Pharma Science Ltd. Pharmaceuticals 0.61


escorts Ltd. Auto 0.59

capital First Ltd. Finance 0.57

IDFc Bank Ltd. Banks 0.56

JSW Steel Ltd. Ferrous Metals 0.55

century Textiles & Industries Ltd. cement 0.53

IDFc Ltd. Finance 0.49

Raymond Ltd. Textile Products 0.45


Bharat Financial Inclusion Ltd. Finance 0.42

Godrej consumer Products Ltd. consumer Non Durables 0.42

Tata Power company Ltd. Power 0.42


Bata India Ltd. consumer Durables 0.40

Adani Ports and Special economic Zone Ltd.

Transportation 0.40

LIc Housing Finance Ltd. Finance 0.39

Godrej Industries Ltd. consumer Non Durables 0.39



Adani Power (Mundra) Ltd. (Secured by Shares of Adani Port & SeZ Ltd.)

Power 0.37

HcL Technologies Ltd. Software 0.37


Biocon Ltd. Pharmaceuticals 0.34



eicher Motors Ltd. Auto 0.31

IRB Infrastructure Developers Ltd. construction 0.30

DLF Ltd. construction 0.29

KPIT Technologies Ltd. Software 0.28

Mahindra & Mahindra Financial Services Ltd.

Finance 0.27

Ambuja cements Ltd. cement 0.27


Bajaj Finserv Ltd. Finance 0.25

United Spirits Ltd. consumer Non Durables 0.24

cadila Healthcare Ltd. Pharmaceuticals 0.24

Piramal enterprises Ltd. Pharmaceuticals 0.24


Havells India Ltd. consumer Durables 0.23

Wockhardt Ltd. Pharmaceuticals 0.22

Vodafone Idea Ltd Telecom - Services 0.21

Jain Irrigation Systems Ltd. Industrial Products 0.19

Tata elxsi Ltd. Software 0.19

equitas Holdings Ltd. Finance 0.18

The South Indian Bank Ltd. Banks 0.17

Hindalco Industries Ltd. Non - Ferrous Metals 0.17

Granules India Ltd. Pharmaceuticals 0.17

Jubilant Foodworks Ltd. consumer Non Durables 0.16

NBcc (India) Ltd. construction 0.15

Bharat Petroleum corporation Ltd.

Petroleum Products 0.15

Ujjivan Financial Services Ltd. Finance 0.14

canFin Homes Ltd. Finance 0.14

Bosch Ltd. Auto Ancillaries 0.13

Tata communications Ltd. Telecom - Services 0.13


Reliance Power Ltd. Power 0.12

UltraTech cement Ltd. cement 0.12

MRF Ltd. Auto Ancillaries 0.12

Power Grid corporation of India Ltd.

Power 0.11

Grasim Industries Ltd. cement 0.11

Petronet LNG Ltd. Gas 0.11

Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.10

United Breweries Ltd. consumer Non Durables

0.10

PTc India Ltd. Power 0.09

TV18 Broadcast Ltd. Media & entertainment 0.09

Hindustan Petroleum corporation Ltd.

Petroleum Products 0.09

IDBI Bank Ltd. Banks 0.08


Reliance Infrastructure Ltd. Power 0.08

Divi's Laboratories Ltd. Pharmaceuticals 0.07

Reliance capital Ltd. Finance 0.07

IcIcI Prudential Life Insurance company Ltd.

Finance 0.07

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of October 31, 2018 unless otherwise specified. ....contd on next page

PORTFOLIO

(An open ended scheme investing in arbitrage opportunities)HDFC Arbitrage Fund


This product is suitable for investors who are seeking ~l income over short term.l income through arbitrage opportunities between cash and

derivative market and arbitrage opportunities within the derivative segment.

Riskometer

Investors understand that their principal will be at moderately low risk


0.020.040.060.080.190.330.410.450.790.830.830.841.061.061.081.121.20

1.992.012.39

3.543.66

6.366.80

7.439.45

13.01

0 2 4 6 8 10 12 14

Minerals/MiningIndustrial Capital Goods

FertilisersChemicals

Industrial ProductsPesticides


ConstructionMedia & Entertainment

TradingGas

CementConstruction Project

Textile ProductsAuto Ancillaries

PowerTelecom - Services

Consumer DurablesFerrous Metals

SoftwarePetroleum Products

AutoConsumer Non Durables

FinanceBanks

Pharmaceuticals


PERFORMANCE^ - Wholesale Plan - Regular Plan - Growth OptionDate Period Scheme

Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 5.67 4.90 1.91 10,567 10,490 10,191Oct 30, 15 Last 3 Years 5.96 5.26 10.22 11,901 11,666 13,396Oct 31, 13 Last 5 Years 6.79 6.55 11.89 13,891 13,736 17,546Oct 23, 07 Since Inception 7.18 N.A. 7.25 21,478 N.A. 21,638

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance is not strictly comparable with that of its Additional Benchmark since the scheme does not take directional call in equity markets but is limited to availing arbitrage opportunities, etc. For performance of other schemes managed by Krishan Kumar Daga, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 59.

Face Value per Unit: 10 unless otherwise specified, + Industry classification as recommended by AMFI, cD - certificate of Deposit; cP - commercial Papers, Data is as of October 31, 2018 unless otherwise specified.



Gujarat State Fertilizers & chemicals Ltd.

Fertilisers 0.06

Indian Oil corporation Ltd. Petroleum Products 0.06

PVR Ltd. Media & entertainment 0.06

Kajaria ceramics Ltd. construction 0.05

container corporation of India Ltd.

Transportation 0.05

ceat Ltd. Auto Ancillaries 0.04

IFcI Ltd. Finance 0.04

Rural electrification corporation Ltd.

Finance 0.04


Marico Ltd. consumer Non Durables 0.02

NMDc Ltd. Minerals/Mining 0.02


Ajanta Pharma Ltd. Pharmaceuticals 0.02

Karnataka Bank Ltd. Banks 0.02

Shree cement Ltd. cement 0.02



Motherson Sumi Systems Ltd. Auto Ancillaries 0.01

Torrent Power Ltd. Power 0.01

colgate Palmolive (India) Ltd. consumer Non Durables 0.01

GMR Infrastructure Ltd. construction Project 0.01

India cements Ltd. cement 0.01

Tata Global Beverages Ltd. consumer Non Durables 0.01


SREI Infrastructure Finance Ltd. Finance @

L&T Finance Holdings Ltd. Finance @

Sub Total 67.03


DEBT & DEBT RELATED


CD/CP

Axis Bank Ltd. cRISIL - A1+ 1.41

Trapti Trading & Investments Pvt Ltd. IcRA - A1+ 0.14

canFin Homes Ltd. IcRA - A1+ 0.14

Sub Total 1.69

CREDIT EXPoSURE

• Housing Development Finance corporation Ltd.£ cRISIL - AAA 4.26

• Punjab National Bank cARE - A+ 2.14

• Vedanta Ltd. cRISIL - AA 2.07




Bank of Baroda cARE - AA 0.42

Union Bank of India FITcH - AA 0.26

IcIcI Bank Ltd. cARE - AA+ 0.19

HDB Financial Services Ltd. cRISIL - AAA 0.02

Sub Total 12.06

Short Term Deposits as margin for Futures & Options 18.15


grand Total 100.00

• Top Ten Holdings, £ co-sponsor, @ less than 0.01%

Outstanding exposure in derivative instruments (` in crore) 2,359.68

Hedged position in Equity & Equity related instruments

Outstanding derivative exposure (% age) 67.12

PORTFOLIO

(An open ended scheme investing in arbitrage opportunities) ...Contd from previous pageHDFC Arbitrage Fund


l INVESTMENT OBjECTIVETo generate income/capital appreciation through investments predominantly in AA+ and above rated corporate bonds.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: corporate Bond Fund

l FUnD MAnAGER ¥

Anupam joshi (since October 27, 15) Total experience: Over 12 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 19.7813Regular Plan - Dividend Option 13.4541Regular Plan - Quarterly Dividend Option 10.2852Direct Plan - Growth Option 19.8954Direct Plan - Dividend Option 13.6540Direct Plan - Quarterly Dividend Option 10.1806


l qUAnTITATIVE DATAAverage Maturity * 1.73 yearsMacaulay Duration * 1.58 yearsModified Duration * 1.46 yearsYield to Maturity * 8.87%* computed on the invested amount.


l #BEnCHMARK InDEX: cRISIL composite Bond Fund Index


l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under both the Plans: Growth, Quarterly Dividend & Normal Dividend. Both Dividend options offer Payout and Reinvestment facilities.

l MINIMUM APPLICATION AMOUNTPurchase : ` 5,000 and any amount thereafter. Additional Purchase : ` 1,000 and any amount thereafter.



Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 4.24 1.74 -0.47 10,424 10,174 9,953Oct 30, 15 Last 3 Years 7.43 6.78 5.44 12,403 12,179 11,726Oct 31, 13 Last 5 Years 8.40 8.58 6.99 14,974 15,098 14,018Jun 29, 10 Since Inception 8.52 7.71 6.02 19,781 18,588 16,282

Returns greater than 1 year period are compounded annualized (cAGR). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anupam Joshi, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.

Face Value per Unit: ` 10 unless otherwise specified, cD - certificate of Deposit; cP - commercial Papers, Data is as of October 31, 2018 unless otherwise specified.

This product is suitable for investors who are seeking ~l income over short to medium terml to generate income/capital appreciation through investments

predominantly in AA+ and above rated corporate bondsRiskometer



PORTFOLIO

Issuer Rating % to NAV

DEBT & DEBT RELATEDgOVERNMENT SECURITIES8.76 SDL 2022 Sovereign 1.578.39 SDL 2022 Sovereign 1.438.94 SDL 2022 Sovereign 1.177.42 SDL 2022 Sovereign 0.778.21 SDL 2022 Sovereign 0.408.66 SDL 2022 Sovereign 0.316.17 GOI 2023 Sovereign 0.218.64 SDL 2021 Sovereign 0.027.68 GOI 2023 Sovereign 0.018.21 SDL 2021 Sovereign 0.018.39 SDL 2021 Sovereign @8.51 SDL 2023 Sovereign @8.08 GOI 2022 Sovereign @8.21 SDL 2020 Sovereign @8.15 SDL 2021 Sovereign @8.19 GOI 2020 Sovereign @Sub Total 5.90MONEY MARkET INSTRUMENTSCD/CP Indusind Bank Ltd. cRISIL - A1+ 0.21Fullerton India credit company Ltd. IcRA - A1+ 0.09Sub Total 0.30CREDIT EXPoSURE • Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA 9.09• Housing Development

Finance corporation Ltd.£ cRISIL - AAA 9.01• Bajaj Finance Ltd. cRISIL - AAA / FITcH - AAA 6.62• ONGc Petro additions Ltd.

(OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 6.09• Indiabulls Housing Finance Ltd. cARE - AAA 5.10• National Bank for Agriculture

& Rural Development cRISIL - AAA 5.04• LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 4.95• Mahindra & Mahindra

Financial Services Ltd. FITcH - AAA 4.75• HDB Financial Services Ltd. cARE - AAA / cRISIL - AAA 4.73• Rural Electrification

corporation Ltd.cARE - AAA / cRISIL - AAA 3.28



Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 2.45Housing and Urban Development corporation Ltd. IcRA - AAA 2.18export - Import Bank of India cRISIL - AAA 2.05Reliance Jio Infocomm Ltd. cRISIL - AAA 2.04Power Grid corporation of India Ltd. cRISIL - AAA 2.02Indian Railway Finance corporation Ltd. cRISIL - AAA 1.87Small Industries Development Bank of India cARE - AAA 1.84NTPc Ltd. cRISIL - AAA 1.30Tata Sons Ltd. cRISIL - AAA 1.17Kotak Mahindra Prime Ltd. cRISIL - AAA 1.10L&T Infrastructure Finance company Ltd. cARE - AAA 1.05Daimler Financial Services (I) Pvt Ltd. FITcH - AAA 0.85Sikka Ports & Terminals Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cRISIL - AAA 0.79Andhra Pradesh expressway Ltd.(NHAI Annuity) IcRA - AAA(SO) 0.54Nabha Power Ltd. (corporate Guarantee of L&T Ltd.) IcRA - AAA(SO) 0.43Reliance Industries Ltd. cRISIL - AAA 0.39Jamnagar Utilities & Power Pvt. Ltd. cRISIL - AAA 0.39Toyota Financial Services India Ltd. cRISIL - AAA 0.26Gujarat Road and Infra co Ltd. IcRA - AAA(SO) 0.22NHPc Ltd. FITcH - AAA 0.04Mahindra Vehicle Manufacturers Ltd. IcRA - AAA @Sub Total 84.70cash, cash Equivalents and Net current Assets 9.10

grand Total 100.00



(An open ended debt scheme predominantly investing in AA+ and above rated corporate bonds)HDFC Corporate Bond Fund

note: Effective close of business hours of May 8, 2018, HDFc Medium Term Opportunities Fund (HMTOF) underwent changes in Fundamental Attributes and was renamed as HDFc corporate Bond Fund (HcBF) and HDFc Floating Rate Income Fund – Long Term Plan and HDFc Gilt Fund – Short Term Plan were merged therein. As the portfolio structuring of HcBF closely resembles the erstwhile HMTOF, the past performance of HMTOF is provided, in line with SEBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.


n G-Sec, SDL 5.90

n cD/cP 0.30




n Sovereign 5.90n AAA/AAA(SO)/A1+/

A1+(S0) & Equivalent 85.00n cash, cash Equivalents and




To generate income/capital appreciation by investing predominantly in AA and below rated corporate debt.


l CATEGoRY oF SCHEME: credit Risk Fund

l FUnD MAnAGER ¥

Shobhit Mehrotra (since March 25, 14) Total experience: Over 25 years


March 25, 2014


Regular Plan - Growth Option 14.6471Regular Plan - Dividend Option 13.4867Regular Plan - Quarterly Dividend Option 10.3547Direct Plan - Growth Option 15.2510Direct Plan - Dividend Option 13.3687Direct Plan - Quarterly Dividend Option 10.4810



l qUAnTITATIVE DATA

Average Maturity * 2.52 yearsMacaulay Duration * 2.17 yearsModified Duration * 2.00 yearsYield to Maturity * 9.93%* computed on the invested amount.



l #BEnCHMARK InDEX: cRISIL Short Term Bond Fund Index


l EXIT LoAD

l In respect of each purchase / switch-in of Units, 15% of the units (“the limit”) may be redeemed without any exit Load from the date of allotment


n In respect of each purchase / switch-in of Units, an exit Load of 1.00% is payable if Units are redeemed / switched-out within 12 months from the date of allotment

n In respect of each purchase / switch-in of Units, an exit Load of 0.50% is payable if Units are redeemed / switched-out after 12 months but within 18 months from the date of allotment

l No exit Load is payable if Units are redeemed / switched-out after 18 months from the date of allotment


l PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan: Growth, Quarterly Dividend and Normal Dividend. Both Dividend options offers Payout and Reinvestment facilities.


Purchase : ` 5,000 and any amount thereafter. Additional Purchase : ` 1,000 and any amount thereafter.


Normally despatched within 3-4 Business Days.


Face Value per Unit: ` 10 unless otherwise specified, Data is as of October 31, 2018 unless otherwise specified. ≈ Based on long term rating.

(An open ended debt scheme predominantly investing in AA and below rated corporate bonds [excluding AA+ rated corporate bonds])HDFC Credit Risk Debt Fund


Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 3.05 4.69 -0.47 10,305 10,469 9,953Oct 30, 15 Last 3 Years 7.31 7.11 5.44 12,363 12,292 11,726Mar 25, 14 Since Inception 8.64 8.03 7.56 14,647 14,270 13,986

The above returns are for Regular Plan - Growth Option. Returns greater than 1 year period are compounded annualized (cAGR). The Scheme is in existence for more than 1 year but less than 5 years. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. Load is not taken into consideration for computation of performance. For performance of other schemes managed by Shobhit Mehrotra, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.


l income over short to medium terml to generate income/capital appreciation by investing

predominantly in AA and below rated corporate debt (excluding AA+ rated corporate bonds)

Riskometer

Investors understand that their principal will be at moderate risk


Company Industry+ / Security Rating


DEBT & DEBT RELATEDgOVERNMENT SECURITIES8.39 SDL 2022 Sovereign - Sovereign 0.29Sub Total 0.29MONEY MARkET INSTRUMENTSCD/CPSimplex Infrastructures Ltd. cARE - A2+ cARE - A- 1.68Bajaj electricals Ltd. cARE - A1+ IcRA - A+ 0.29Sub Total 1.97CREDIT EXPoSURE• HPcL-Mittal Energy Ltd. FITcH - AA IcRA - AA 4.19• Vedanta Ltd. cRISIL - AA cRISIL - AA 4.15• Tata International Ltd. cARE - A+ IcRA - A 4.12• Rural Electrification corporation Ltd. cARE - AAA / cRISIL - AAA cRISIL - AAA 3.44• Tata Power company Ltd. cARE - AA / cRISIL

- AA- / IcRA - AA- cRISIL - AA- 3.14



• Tata Steel Ltd. cARE - AA, AA- cARE - AA 2.82• Jamnagar Utilities & Power Pvt. Ltd. cRISIL - AAA cRISIL - AAA 2.63• HDFc Bank Ltd. cRISIL - AA+ cRISIL - AAA 2.58• Adani Transmission Ltd. FITcH - AA+ FITcH - AA+ 2.43• Talwandi Sabo Power Ltd(corporate

Guarantee of Vedanta Ltd.) cRISIL - AA(SO) FITcH - A+ 2.42Punjab National Bank cARE - A+ IcRA - AA- 2.32Dilip Buildcon Ltd. cRISIL - A+ cARE - A+ 2.27Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA cRISIL - AA 2.27Sikka Ports & Terminals Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cRISIL - AAA cRISIL - AAA 2.13Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA cRISIL - AAA 2.09Adani Rail Infra Private Ltd. (Secured by Shares of Adani Ports and Adani Transmission) BRIcKWORKS - A1+(SO) BRIcKWORKS - AA- 2.07Muthoot Finance Ltd. IcRA - AA IcRA - AA- 1.84

note: Effective close of business hours of May 8, 2018, HDFc corporate Debt Opportunities Fund (HcDOF) underwent changes in Fundamental Attributes and was renamed as HDFc credit Risk Debt Fund (HcRDF) and HDFc Regular Savings Fund was merged therein. As the portfolio structuring of HcRDF closely resembles the erstwhile HcDOF, the past performance of HcDOF is provided, in line with SeBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.


n SDL 0.29

n cD/cP 1.97



Portfolio Classification by Issuer Rating Class (%) ≈






(An open ended debt scheme predominantly investing in AA and below rated corporate bonds [excluding AA+ rated corporate bonds])...Contd from previous pageHDFC Credit Risk Debt Fund

Face Value per Unit: 10 unless otherwise specified, + Industry classification as recommended by AMFI, cD - certificate of Deposit; cP - commercial Papers, Data is as of October 31, 2018 unless otherwise specified.



Tata Sky Ltd. (Subsidiary of Tata Sons) cRISIL - AA cRISIL - AA 1.83DB consolidated Private Ltd (Dainik Bhaskar Group company) Unrated INTeRNAL - A-(SO) 1.75Housing Development Finance corporation Ltd.£ cRISIL - AAA cRISIL - AAA 1.65Reliance Jio Infocomm Ltd. cRISIL - AAA cRISIL - AAA 1.60Prism Johnson Ltd. FITcH - A- / IcRA - A- IcRA - A- 1.49Sadbhav Infrastructure Project Ltd.(corporate Guarantee of Sadbhav engineering Ltd.) cARE - A+(SO) cARE - A+(SO) 1.45Aasan corporate Solutions Pvt. Ltd. (Ajay Piramal Group co) IcRA - AA-(SO) IcRA - AA-(SO) 1.31TMF Holdings Ltd. (subsidiary of Tata Motors Ltd.) cRISIL - AA cRISIL - AA 1.12JM Financial Asset Reconstruction company Ltd. IcRA - AA- cRISIL - AA- 1.08Primat Infrapower & Multiventures Private Ltd. (Secured with shares of Zee entertainment enterprise Ltd. & Dish TV Ltd.)

BRIcKWORKS - A+(SO), AA-(SO) INTeRNAL - A 1.04

Hinduja Leyland Finance Ltd. cARE - AA- cARE - AA- 1.04Power Grid corporation of India Ltd. cRISIL - AAA cRISIL - AAA 1.03Hindalco Industries Ltd. cRISIL - AA cRISIL - AA 0.99Indiabulls Housing Finance Ltd. cARE - AAA / cRISIL - AAA cRISIL - AA+ 0.87Raj Infra Properties Pvt. Ltd. (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) BRIcKWORKS - AA-(SO) 0.86Gera Development Pvt. Ltd. cARE - A+ cARE - A+ 0.81Tata Motors Ltd. cARE - AA+ cRISIL - AA 0.78LIc Housing Finance Ltd. cRISIL - AAA cRISIL - AAA 0.73Simplex Infrastructures Ltd. cARE - A- cARE - A- 0.72Tata Housing Development company Ltd. IcRA - AA cARE - AA 0.71KEc International Ltd. IcRA - AA- cARE - AA- 0.69Union Bank of India FITcH - AA cARE - AA- 0.66Tata Motors Finance Ltd. cARE - AA+ cRISIL - AA 0.64Starlite Lighting Ltd. (corporate Guarantee of Bajaj electrical Ltd.) IcRA - A+(SO) IcRA - A+(SO) 0.61NTPc Ltd. cRISIL - AAA / IcRA - AAA cRISIL - AAA 0.61cholamandalam Investment and Finance company Ltd. cRISIL - AA+/IcRA - AA+ cARE - AA 0.60export - Import Bank of India cRISIL - AAA cRISIL - AAA 0.59Tata Realty and Infrastructure Ltd. cRISIL - AA cRISIL - AA 0.58coastal Gujarat Power Ltd. cARE - AA(SO) cARE - AA(SO) 0.57Indostar capital Finance Ltd. cARE - AA- cARE - AA- 0.57Tata capital Financial Services Ltd. IcRA - AAA cRISIL - AAA 0.57Bharat Petroleum corporation Ltd. cRISIL - AAA cRISIL - AAA 0.56Shriram Transport Finance company Ltd. cARE - AA+ / cRISIL -

AA+ / FITcH - AA+ cRISIL - AA+ 0.56Axis Bank Ltd. cRISIL - AA+ cRISIL - AAA 0.55elena Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48Divyesh Power Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48Aashman energy Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48Shreyas Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48Pratyash Renewable Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48SeI enerstar Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48Zuvan energy Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48Aarish Solar Power Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48SeI Mihir energy Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.48SeI Baskara Power Pvt Ltd. (Greenko) cARE - AA-(SO) BRIcKWORKS - AA-(SO) 0.48Prabhakar Viniyog Pvt. Ltd. (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) FITcH - AA-(SO) 0.45Infiniti Retail Ltd. (Subsidiary of Tata Sons) cARE - A+ cARE - A+ 0.45Inox Air Products Ltd. cRISIL - AA cRISIL - AA 0.42APL Apollo Tubes Ltd. cARE - AA- cARE - AA- 0.41



Andhra Bank cARE - A+ cRISIL - AA 0.40PNB Housing Finance Ltd. cARE - AAA cRISIL - AA+ 0.36Au Small Finance Bank Ltd. FITcH - AA- cRISIL - A 0.36Aarti Industries Ltd. cRISIL - AA- cRISIL - AA- 0.36Repco Home Finance Ltd. cARE - AA IcRA - AA- 0.32Raviraj Viniyog Pvt. Ltd. (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) BRIcKWORKS - AA-(SO) 0.32emami Infrastructure Ltd. (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) BRIcKWORKS - AA-(SO) 0.31JM Financial credit Solutions Ltd. IcRA - AA cRISIL - AA 0.31edisons Infrapower & Multiventures Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd. & Dish TV Ltd.) BRIcKWORKS - A+(SO) INTERNAL - A+(SO) 0.30Aditya Birla Fashion and Retail Ltd. cRISIL - AA cRISIL - AA 0.29L&T Housing Finance Ltd. cARE - AAA cARE - AAA 0.28L&T Finance Ltd. cARE - AAA cARE - AAA 0.28HDB Financial Services Ltd. cARE - AAA cRISIL - AAA 0.28Tata Sons Ltd. cRISIL - AAA cRISIL - AAA 0.28India infoline Finance Ltd. IcRA - AA cRISIL - AA 0.28Sadbhav engineering Ltd. cARE - A+ cARE - A+ 0.24Hazaribagh Ranchi expressway Ltd. (NHAI Annuity)

cARE - AAA(SO) / FITcH - AAA(SO) cARE - AAA(SO) 0.24

KKR India Financial Services Pvt Ltd. cRISIL - AA+ cRISIL - AA+ 0.23G R Infraprojects Ltd. cARE - AA- cARE - AA- 0.21Aspire Home Finance corporation Ltd. (Subsidiary of Motilal Oswal Financial Services Ltd.) cRISIL - A+ / IcRA - A+ cRISIL - A+ 0.21Bhanu Vyapar Pvt. Ltd. (Secured with shares of emami Ltd.) FITcH - AA-(SO) FITcH - AA-(SO) 0.21century Textiles & Industries Ltd. cRISIL - AA cARE - AA- 0.19Arm Infra & Utilities Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd.)

BRIcKWORKS - A+, AA- BRIcKWORKS - A+(SO) 0.18

Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) cRISIL - AAA(SO) 0.18EcL Finance Ltd. cARE - AA cRISIL - AA 0.15Syndicate Bank cARE - AA- cRISIL - AA 0.15Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cARE - AAA(SO) cRISIL - AAA(SO) 0.15Bajaj Finance Ltd. cRISIL - AAA cRISIL - AAA 0.14National Bank for Agriculture & Rural Development cRISIL - AAA cRISIL - AAA 0.14Sundaram Finance Ltd. IcRA - AAA FITcH - AA+ 0.14National Highways Authority of India cRISIL - AAA cRISIL - AAA 0.14ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) FITcH - A+ 0.14Kalpataru Power Transmission Ltd. cRISIL - AA cRISIL - AA 0.12Asian Satellite Broadcast Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd.) BRIcKWORKS - AA-(SO) BRIcKWORKS - A+ 0.12NHPc Ltd. IcRA - AAA cRISIL - AAA 0.11Volkswagen Finance Pvt. Ltd. FITcH - AAA FITcH - AAA 0.10Aavas Financiers Ltd.(Formerly known as Au Housing Finance Ltd.) IcRA - A+ cRISIL - A 0.09IIFL Home Finance Ltd. cRISIL - AA cRISIL - AA 0.06Petronet LNG Ltd. cRISIL - AAA cRISIL - AA+ 0.06Sprit Infrapower & Multiventures Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd. & Dish TV Ltd.) BRIcKWORKS - A+(SO) INTERNAL - A+ 0.05Tube Investments of India Ltd. cRISIL - AA+ cRISIL - AA 0.02Sub Total 93.16cash, cash Equivalents and Net current Assets 4.58

grand Total 100.00



l INVESTMENT OBjECTIVETo generate income / capital appreciation through investments in debt and money market instruments consisting predominantly of securities issued by entities such as Scheduled commercial Banks (ScBs), Public Sector undertakings (PSUs), Public Financial Institutions (PFIs), Municipal corporations and such other bodies.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Banking and PSU Fund

l FUnD MAnAGER ¥

Anil Bamboli (since March 26, 14) Total experience: Over 23 years







l ##ADDL. BEnCHMARK InDEX: cRISIL 1 year T-Bill Index

l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan: Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility.

l MINIMUM APPLICATION AMOUNTPurchase : ` 5,000 and any amount thereafter.


Face Value per Unit: ` 10 unless otherwise specified, Data is as of October 31, 2018 unless otherwise specified.


Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 3.03 4.69 6.11 10,303 10,469 10,611Oct 30, 15 Last 3 Years 7.12 7.11 6.47 12,295 12,292 12,074Mar 26, 14 Since Inception 8.07 8.03 7.20 14,296 14,269 13,771

The above returns are for Regular Plan - Growth Option. Returns greater than 1 year period are compounded annualized (cAGR). The Scheme is in existence for more than 1 year but less than 5 years. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 48. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 61.


l income over short to medium term.l to generate income / capital appreciation through investments

in debt and money market instruments consisting predominantly of securities issued by entities such as Scheduled commercial Banks (ScBs), Public Sector undertakings (PSUs), Public Financial Institutions (PFIs), Municipal corporations and such other bodies

Riskometer



PORTFOLIO


DEBT & DEBT RELATED

CREDIT EXPoSURE

• National Highways Authority of India cRISIL - AAA 11.50



• Power Grid corporation of India Ltd. cRISIL - AAA 7.26

• Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 6.64

• Rural Electrification corporation Ltd.

cRISIL - AAA / FITcH - AAA 5.41

• Tata International Ltd. cARE - A+ 5.26

• Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India)

cARE - AAA, AAA(SO) / cARE - AAA / cRISIL - AAA(SO) 5.12



Bank of Baroda cARE - AA 3.09


ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 1.96




NTPc Ltd. cRISIL - AAA 1.69







SeI enerstar Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

Shreyas Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

Divyesh Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

Zuvan energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

SeI Mihir energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

Aashman energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

elena Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

Pratyash Renewable Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

SeI Baskara Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.42

Housing Development Finance corporation Ltd.£

cRISIL - AAA / IcRA - AAA 0.39




Sub Total 93.41


grand Total 100.00



HDFC Banking and PSU Debt Fund(An open ended debt scheme predominantly investing in debt instruments of banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds)





n AAA/AAA(SO)/A1+/ A1+(S0) & Equivalent 64.99

n AA+ 1.96n AA/AA- 17.76n A+ & Below 8.70n cash, cash Equivalents and



l INVESTMENT OBjECTIVETo generate credit risk-free returns through investments in sovereign securities issued by the central Government and/or State Government.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Gilt Fund

l FUnD MAnAGER ¥

Anil Bamboli (since September 1, 07) Total experience: Over 23 years






l #BEnCHMARK InDEX: cRISIL Dynamic Gilt Index


l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option (Dividend Option offers Dividend Payout and Reinvestment facility.





Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 1.56 1.86 -0.47 10,156 10,186 9,953Oct 30, 15 Last 3 Years 6.56 6.48 5.44 12,103 12,075 11,726Oct 31, 13 Last 5 Years 8.97 8.51 6.99 15,369 15,046 14,018Jul 25, 01 Since Inception 7.63 8.08 N.A. 35,625 38,290 N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 61.


l credit risk free returns over medium to long terml to generate credit risk-free returns through investments in

sovereign securities issued by the central Government and / or State Government

Riskometer



PORTFOLIO


DEBT & DEBT RELATED


• 7.37 GOI 2023 Sovereign 11.68





• 8.21 SDL 2022 Sovereign 4.15

















Sub Total 63.08

T-BILLS

• 182 Days TBill - Mat 080319 Sovereign 18.32



182 Days TBill - Mat 131218 Sovereign 2.07

91 Days Tbill - ISD 270918 Mat 271218 Sovereign 2.06

Sub Total 31.57

Total 94.65


grand Total 100.00



(An open ended debt scheme investing in government securities across maturities)HDFC Gilt Fund


n G-Sec, SDL, T-bills 94.65



n Sovereign 94.65n cash, cash Equivalents and



l INVESTMENT OBjECTIVETo generate income / capital appreciation by investing in a range of debt and money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Dynamic Bond Fund

l FUnD MAnAGER ¥

Anil Bamboli (since February 16, 04) Total experience: Over 23 years

l InCEPTIon DATE (Date of Allotment)April 28, 1997

NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 59.2260Regular Plan - Quarterly Dividend Option 11.8317Regular Plan - Half-Yearly Dividend Option 11.2773Regular Plan - Yearly Dividend Option 12.7178Regular Plan - Normal Dividend Option 12.6879Direct Plan - Growth Option 61.8990Direct Plan - Quarterly Dividend Option 12.3947Direct Plan - Half-Yearly Dividend Option 12.2976Direct Plan - Yearly Dividend Option 13.3400Direct Plan - Normal Dividend Option 13.0331




l #BEnCHMARK InDEX: cRISIL composite Bond Fund Indexl ##ADDL. BEnCHMARK InDEX: cRISIL 10 year Gilt Index


Load of 0.50% is payable if Units are redeemed / switched-out within 6 months from the date of allotment.

l No exit Load is payable if Units are redeemed / switched-out after 6 months from the date of allotment.


l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan: Growth, Normal Dividend, Quarterly Dividend, Half Yearly Dividend, & Yearly Dividend. All Dividend Options offer Payout and Reinvestment facility.





Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 0.54 1.74 -0.47 10,054 10,174 9,953Oct 30, 15 Last 3 Years 5.96 6.78 5.44 11,900 12,179 11,726Oct 31, 13 Last 5 Years 7.99 8.58 6.99 14,692 15,098 14,018Apr 28, 97 Since Inception 8.62 N.A. N.A. 59,226 N.A. N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 61.

This product is suitable for investors who are seeking ~l income over medium to long terml to generate income / capital appreciation by investing in a

range of debt and money market instrumentsRiskometer



PORTFOLIO


DEBT & DEBT RELATED

















8.19 SDL 2026 Sovereign @

Sub Total 32.97

CREDIT EXPoSURE




• Hazaribagh Ranchi expressway Ltd. (NHAI Annuity)


• LIc Housing Finance Ltd. cRISIL - AAA 4.22


• Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cARE - AAA(SO) 2.72

State Bank of India cRISIL - AAA(SO) 2.57


Rural Electrification corporation Ltd. FITcH - AAA 2.55

Reliance Jio Infocomm Ltd. cRISIL - AAA 2.51

Housing Development Finance corporation Ltd.£ IcRA - AAA 2.49




Sikka Ports & Terminals Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 0.54


Sub Total 53.15


grand Total 100.00



HDFC Dynamic Debt Fund (An open ended dynamic debt Scheme investing across duration)


n G-Sec, SDL 32.97





A1+(S0) & Equivalent 35.68n AA/AA- 15.99n A+ & Below 1.48n cash, cash Equivalents and



l INVESTMENT OBjECTIVETo generate income / capital appreciation through investments in debt and money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Medium to Long Duration Fund

l FUnD MAnAGER ¥

Shobhit Mehrotra (since September 11, 07) Total experience: Over 25 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 38.5203Regular Plan - Quarterly Dividend Option 10.7749Regular Plan - Normal Dividend Option 12.1465Direct Plan - Growth Option 40.3281Direct Plan - Quarterly Dividend Option 11.3350Direct Plan - Normal Dividend Option 12.7532




l #BEnCHMARK InDEX: cRISIL composite Bond Fund Index



Load of 0.25% is payable if Units are redeemed / switched-out within 1 month from the date of allotment.

l No exit Load is payable if Units are redeemed / switched-out after 1 month from the date of allotment.


l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan : Growth, Quarterly Dividend & Normal Dividend. Both Dividend Options offer Payout and Reinvestment facility.




Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year -0.16 1.74 -0.47 9,984 10,174 9,953Oct 30, 15 Last 3 Years 5.26 6.78 5.44 11,665 12,179 11,726Oct 31, 13 Last 5 Years 7.44 8.58 6.99 14,319 15,098 14,018Sep 11, 00 Since Inception 7.71 N.A. N.A. 38,520 N.A. N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Shobhit Mehrotra, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.


This product is suitable for investors who are seeking ~l income over medium to long terml to generate income / capital appreciation through investments

in debt and money market instrumentsRiskometer



PORTFOLIO


DEBT & DEBT RELATED








9.15 GOI 2024 Sovereign @

Sub Total 14.19

CREDIT EXPoSURE

• Power Finance corporation Ltd. cRISIL - AAA 10.41



• National Highways Authority of India cRISIL - AAA 8.43


• Punjab National Bank cARE - A+ 8.31

• Tata Power company Ltd. cRISIL - AA- 6.64



• State Bank of India cRISIL - AA+ 3.79

• Tata Steel Ltd. cARE - AA- 3.03


export - Import Bank of India cRISIL - AA+ 2.84


Union Bank of India FITcH - AA- 0.56

Sub Total 69.73


grand Total 100.00



[An open ended medium term debt scheme investing in instruments such that the Macaulay Duration of the Portfolio is between 4 years and 7 years (Refer page 2 for definition of Macaulay Duration)]HDFC Income Fund


n G-Sec 14.19









Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 3.56 4.69 6.11 10,356 10,469 10,611Oct 30, 15 Last 3 Years 7.01 7.11 6.47 12,260 12,292 12,074Oct 31, 13 Last 5 Years 8.07 8.13 7.22 14,746 14,787 14,176Feb 06, 02 Since Inception 7.82 N.A. 5.98 35,302 N.A. 26,455

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Shobhit Mehrotra, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.

l INVESTMENT OBjECTIVETo generate income / capital appreciation through investments in Debt and Money Market Instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Medium Duration Fund

l FUnD MAnAGER ¥

Shobhit Mehrotra (since September 1, 07) Total experience: Over 25 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 35.3016Regular Plan - Dividend Option 13.3942Regular Plan - Fortnightly Dividend Option 10.5816Direct Plan - Growth Option 36.4695Direct Plan - Dividend Option 13.6535Direct Plan - Fortnightly Dividend Option 10.6152




l #BEnCHMARK InDEX: cRISIL Short Term Bond Fund Indexl ##ADDL. BEnCHMARK InDEX: cRISIL 1 year T-Bill Index

l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under both the Plans : Growth, Normal Dividend & Fortnightly Dividend. Both Dividend Options offer Payout and Reinvestment facility.




This product is suitable for investors who are seeking ~l income over medium terml to generate income / capital appreciation through investments

in Debt and Money Market InstrumentsRiskometer



PORTFOLIO


DEBT & DEBT RELATEDgOVERNMENT SECURITIES7.35 GOI 2024 Sovereign 0.837.59 GOI 2029 Sovereign 0.17Sub Total 1.00CREDIT EXPoSURE • Rural Electrification

corporation Ltd. cRISIL - AAA 11.13• Power Finance corporation Ltd. cRISIL - AAA 9.43• HPcL-Mittal Energy Ltd. FITcH - AA 7.03• LIc Housing Finance Ltd. cRISIL - AAA 6.40• National Bank for Agriculture

& Rural Development cRISIL - AAA 6.30• Indiabulls Housing Finance Ltd. cARE - AAA / cRISIL

- AAA 5.45• Housing and Urban Development corporation Ltd. cARE - AAA / IcRA - AAA 5.42• Jamnagar Utilities & Power

Pvt. Ltd. cRISIL - AAA 5.13• Housing Development

Finance corporation Ltd.£ cRISIL - AAA 4.21• HDFc Bank Ltd. cRISIL - AA+ 4.11Syndicate Bank cARE - AA- 3.69Muthoot Finance Ltd. IcRA - AA 3.24Mahindra & Mahindra Financial Services Ltd. FITcH - AAA 2.91Reliance Jio Infocomm Ltd. cRISIL - AAA 2.08

Union Bank of India FITcH - AA- 2.02Punjab National Bank cARE - A+ 1.97JM Financial Asset Reconstruction company Ltd. IcRA - AA- 1.67Talwandi Sabo Power Ltd. (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) 1.63


Sikka Ports & Terminals Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cRISIL - AAA 1.54Andhra Bank cARE - A+ 0.85Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cARE - AAA(SO) 0.84Vedanta Ltd. cRISIL - AA 0.82Aashman energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40Aarish Solar Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40SeI enerstar Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40Divyesh Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40Zuvan energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40Pratyash Renewable Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40elena Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40Shreyas Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40SeI Mihir energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40SeI Baskara Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.40

Sub Total 91.87


grand Total 100.00



[An open ended medium term debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 3 years and 4 years (Refer page 2 for definition of Macaulay Duration)]

HDFC Medium Term Debt Fund


n G-Sec 1.00









Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 5.38 4.69 6.11 10,538 10,469 10,611Oct 30, 15 Last 3 Years 7.26 7.11 6.47 12,344 12,292 12,074Oct 31, 13 Last 5 Years 8.28 8.13 7.22 14,889 14,787 14,176Jun 25, 10 Since Inception 8.50 7.98 6.81 19,777 19,002 17,345

Returns greater than 1 year period are compounded annualized (cAGR). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 61.

Face Value per Unit: ` 10 unless otherwise specified, cD - certificate of Deposit; cP - commercial Papers. Data is as of October 31, 2018 unless otherwise specified.

l INVESTMENT OBjECTIVETo generate income / capital appreciation through investments in Debt and Money Market Instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Short Duration Fund

l FUnD MAnAGER ¥

Anil Bamboli (since June 25, 10) Total experience: Over 23 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 19.7768Regular Plan - Fortnightly Dividend Option 10.2264Regular Plan - Normal Dividend Option 13.2973Direct Plan - Growth Option 19.9480Direct Plan - Fortnightly Dividend Option 10.2867Direct Plan - Normal Dividend Option 13.3355






l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan: Growth, Fortnightly Dividend & Normal Dividend. Both Dividend options offer Payout and Reinvestment facilities.



This product is suitable for investors who are seeking ~l income over short term.l to generate income / capital appreciation through investments

in Debt and Money Market InstrumentsRiskometer



PORTFOLIO


DEBT & DEBT RELATED




Sub Total 1.32

CREDIT EXPoSURE


• National Bank for Agriculture & Rural Development cRISIL - AAA / FITcH - AAA 9.51

• Housing Development Finance corporation Ltd.£ cRISIL - AAA / IcRA - AAA 9.38



• ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 6.71

• LIc Housing Finance Ltd. cRISIL - AAA 6.49

• Reliance Jio Infocomm Ltd. cRISIL - AAA, AAA(SO) 5.93

• Mahindra & Mahindra Financial Services Ltd.

cARE - AAA / FITcH - AAA 5.33

• Indiabulls Housing Finance Ltd. cARE - AAA 5.11

• Tata Sons Ltd. cRISIL - AAA 3.37

Tata capital Financial Services Ltd. IcRA - AAA 3.12

Reliance Industries Ltd. cRISIL - AAA 2.80

Housing and Urban Development corporation Ltd. IcRA - AAA 2.28

Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA 1.72



cholamandalam Investment and Finance company Ltd. IcRA - AA+ 1.14


Bajaj Finance Ltd. cRISIL - AAA / FITcH - AAA 1.13

HDB Financial Services Ltd. cARE - AAA 0.84

ONGc Mangalore Petrochemicals Ltd. FITcH - AAA 0.58

Nabha Power Ltd. (corporate Guarantee of L&T Ltd.) IcRA - AAA(SO) 0.58

Sundaram BNP Paribas Home Finance Ltd. cARE - AA+ 0.57



L&T Finance Ltd. cARE - AAA 0.57

Talwandi Sabo Power Ltd(corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) 0.57



Tata Motors Ltd. cARE - AA+ 0.56

Power Grid corporation of India Ltd. cRISIL - AAA 0.51

Kotak Mahindra Prime Ltd. cRISIL - AAA 0.40


Aditya Birla Finance Ltd. IcRA - AAA 0.35


Toyota Financial Services India Ltd. cRISIL - AAA 0.28

NHPc Ltd. IcRA - AAA 0.22

Sub Total 95.01


grand Total 100.00



[An open ended short term debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 1 year and 3 years (Refer page 2 for definition of Macaulay Duration)]HDFC Short Term Debt Fund


n G-Sec, SDL 1.32








l INVESTMENT OBjECTIVETo generate income / capital appreciation through investment in debt securities and money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Low Duration Fund

l FUnD MAnAGER ¥


l InCEPTIon DATE (Date of Allotment)November 18, 1999

NAV (AS ON OCTOBER 31, 2018)^ NAV PER UNIT (`)Retail OptionRegular Plan - Growth Option 37.7330Regular Plan - Daily Dividend Reinvestment Option 10.1428Regular Plan - Weekly Dividend Option 10.1597Regular Plan - Monthly Dividend Option 10.1417Direct Plan - Growth Option 39.3098Direct Plan - Daily Dividend Reinvestment Option 10.0655Direct Plan - Weekly Dividend Option 10.1896Direct Plan - Monthly Dividend Option 10.1446Wholesale OptionRegular Plan - Growth Option 39.9821Regular Plan - Daily Dividend Reinvestment Option 10.1574Regular Plan - Weekly Dividend Option 10.1616Regular Plan - Monthly Dividend Option 10.1621


l qUAnTITATIVE DATAAverage Maturity * 277 daysMacaulay Duration * 257 daysModified Duration * 230 daysYield to Maturity * 8.71%* computed on the invested amount.


l #BEnCHMARK InDEX: cRISIL Liquid Fund Indexl ##ADDL. BEnCHMARK InDEX: cRISIL 1 year T-Bill Index

l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Retail option: each Plan offers Growth and Dividend Option. Dividend Option offers Daily Dividend Option with Reinvestment facility only and Weekly and Monthly Dividend Option with Payout and Reinvestment facility.

l MINIMUM APPLICATION AMOUNTRetail option : Growth, Weekly and Monthly Dividend Option: Purchase : ` 5,000 and any amount thereafter. Additional Purchase : 1,000 and any amount thereafter. Daily Dividend Option : Purchase : ` 10,000 and any amount thereafter. Additional Purchase : ` 5,000 and any amount thereafter.

l REDEMPTIon PRoCEEDSNormally despatched within 3-4 Business Days.¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience - Over 14 years).^^ calculated on all calendar days.


Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 5.42 7.32 6.11 10,542 10,732 10,611Oct 30, 15 Last 3 Years 6.96 7.21 6.47 12,242 12,328 12,074Oct 31, 13 Last 5 Years 7.47 7.86 7.22 14,338 14,603 14,176Nov 18, 99 Since Inception 7.25 N.A. 6.44 37,733 N.A. 32,659

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anupam Joshi, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.



l income over short term.l to generate income / capital appreciation through investmentin debt securities and money market instruments

Riskometer



PORTFOLIO



DEBT & DEBT RELATEDgOVERNMENT SECURITIES8.39 SDL 2019 Sovereign 1.867.86 SDL 2019 Sovereign 0.797.65 SDL 2027 Sovereign 0.106.84 GOI 2022 Sovereign 0.016.79 GOI 2027 Sovereign @Sub Total 2.76MONEY MARkET INSTRUMENTSCD/CP • Indiabulls Housing Finance Ltd. cRISIL - A1+ 5.12Axis Bank Ltd. cRISIL - A1+ 2.59IcIcI Bank Ltd. IcRA - A1+ 0.16Sub Total 7.87CREDIT EXPoSURE • Small Industries

Development Bank of India cARE - AAA 9.54• Power Finance corporation Ltd. cRISIL - AAA 8.03• ONGc Petro additions Ltd.

(OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 7.51• Housing Development

Finance corporation Ltd.£ cRISIL - AAA 7.28• National Bank for Agriculture

& Rural Development cRISIL - AAA 6.55• Rural Electrification

corporation Ltd. cRISIL - AAA 5.23• Tata capital Financial

Services Ltd. cRISIL - AA+ / IcRA - AAA 3.57• Power Grid corporation of

India Ltd. c R I S I L - A A A 3.17• Indian Railway Finance

corporation Ltd.cARE - AAA / cRISIL - AAA 3.05

Union Bank of India FITcH - AA- 2.17ONGc Mangalore Petrochemicals Ltd. FITcH - AAA 2.10LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 1.90Petronet LNG Ltd. cRISIL - AAA 1.85Syndicate Bank cARE - AA- 1.80canara Bank cRISIL - AA 1.77Mahindra & Mahindra Financial Services Ltd. FITcH - AAA 1.66State Bank of India cRISIL - AA+ 1.57L&T Finance Ltd. cARE - AAA / IcRA - AAA 1.57Punjab National Bank cARE - A+ 1.48Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA 1.47

Issuer Rating % to NAVSamvardhana Motherson International Ltd. (Secured with shares of Motherson Sumi Systems Ltd) IcRA - AA- 1.40Kotak Mahindra Prime Ltd. cRISIL - AAA 1.05Shriram Transport Finance company Ltd. FITcH - AA+ 1.04Axis Bank Ltd. cRISIL - AA+ 1.00Raviraj Viniyog Pvt. Ltd.(Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) 0.92KKR India Financial Services Pvt Ltd. cRISIL - AA+ 0.85Sundaram Finance Ltd. IcRA - AAA 0.79emami Infrastructure Limited (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) 0.56Aditya Birla Finance Ltd. IcRA - AAA 0.53Vedanta Ltd. cRISIL - AA 0.51Adani Transmission Ltd. FITcH - AA+ 0.41Larsen & Toubro Ltd. cRISIL - AAA 0.37Reliance Jio Infocomm Ltd. cRISIL - AAA 0.31export - Import Bank of India cRISIL - AAA 0.27Bajaj Finance Ltd. FITcH - AAA 0.26cholamandalam Investment and Finance company Ltd. IcRA - AA+ 0.26Tata Steel Ltd. cARE - AA 0.22Shreyas Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05SeI Mihir energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05SeI enerstar Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05Pratyash Renewable Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05elena Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05Aarish Solar Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05Aashman energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05Zuvan energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05Divyesh Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05SeI Baskara Power Pvt Ltd. (Greenko) cARE - AA-(SO) 0.05Sub Total 84.52cash, cash Equivalents and Net current Assets 4.85

grand Total 100.00


Outstanding exposure in derivative instruments Interest Rate Swap (` in crore) 100.00

[An open ended low duration debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 6 months and 12 months (Refer page 2 for definition of Macaulay Duration)]HDFC Low Duration Fund


n G-Sec, SDL 2.76

n cD/cP 7.87








l INVESTMENT OBjECTIVETo generate income / capital appreciation by investing in money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Money Market Fund

l FUnD MAnAGER ¥

Anil Bamboli (since July 25, 12) Total experience: Over 23 years

l InCEPTIon DATE (Date of Allotment)November 18, 1999

NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 3,750.4131Regular Plan - Daily Dividend Reinvestment Option 1,063.6400Regular Plan - Weekly Dividend Option 1,063.4952Direct Plan - Growth Option 3,780.8573Direct Plan - Daily Dividend Reinvestment Option 1,063.6400Direct Plan - Weekly Dividend Option 1,063.5242




l #BEnCHMARK InDEX: cRISIL Liquid Fund Index


l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. each Plan offers Growth and Daily Dividend Option (with Reinvestment facility only). Weekly Dividend Option (with Payout and Reinvestment facility).

l MINIMUM APPLICATION AMOUNTPurchase : Under Growth Option and Weekly Dividend Option : ` 5,000 and any amount thereafter. Under Daily Dividend Option : ` 10,000 and any amount thereafterAdditional Purchase : Under Growth Option and Weekly Dividend Option : 1,000 and any amount thereafter. Under Daily Dividend Option : ` 5,000 and any amount thereafter



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 7.02 7.32 6.11 10,702 10,732 10,611Oct 30, 15 Last 3 Years 7.05 7.21 6.47 12,272 12,328 12,074Oct 31, 13 Last 5 Years 7.76 7.86 7.22 14,533 14,603 14,176Nov 18, 99 Since Inception 7.24 N.A. 6.44 37,633 N.A. 32,659

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 61.

Face Value per Unit: ` 1,000, cD - certificate of Deposit; cP - commercial Papers. Data is as of October 31, 2018 unless otherwise specified.

cD/cP 90.37cash, cash Equivalents and Net current Assets 9.63


AAA/AAA(SO)/A1+/A1+(SO) & equivalent 90.37cash, cash Equivalents and Net current Assets 9.63



l income over short terml to generate income / capital appreciation by investing in

money market instruments

Riskometer



PORTFOLIO


DEBT & DEBT RELATED


CD/CP

• LIc Housing Finance Ltd. cRISIL - A1+ / IcRA - A1+ 8.04

• Housing and Urban Development corporation Ltd. FITcH - A1+ 7.51

• Reliance Jio Infocomm Ltd. cARE - A1+ / cRISIL - A1+ 6.94

• Axis Bank Ltd. cRISIL - A1+ 6.83

• IcIcI Bank Ltd. cRISIL - A1+ / IcRA - A1+ 5.90

• Indusind Bank Ltd. cRISIL - A1+ 4.65

• National Bank for Agriculture & Rural Development cRISIL - A1+ 4.62

• Bajaj Finance Ltd. cRISIL - A1+ 4.62

• Hindustan Zinc Ltd. cRISIL - A1+ 4.61

• Reliance Retail Ltd. cARE - A1+ 4.58

Fullerton India credit company Ltd. IcRA - A1+ 4.38

Adani Transmission Ltd. FITcH - A1+ 3.48

Tata capital Financial Services Ltd. IcRA - A1+ 3.48

Muthoot Finance Ltd. cRISIL - A1+ 2.87

GIc Housing Finance Ltd. IcRA - A1+ 2.87

L&T Finance Ltd. cARE - A1+ 2.31


Mahindra & Mahindra Financial Services Ltd.

cRISIL - A1+ / FITcH - A1+ 2.29

UPL Ltd. cRISIL - A1+ 2.27

Godrej Industries Ltd. cRISIL - A1+ 1.38

Tata Housing Development company Ltd. FITcH - A1+ 1.15

Hero Fincorp Ltd. cRISIL - A1+ 1.14

Reliance Industries Ltd. IcRA - A1+ 1.14

Standard chartered Investments and Loans (India) Ltd. cRISIL - A1+ 0.58

Mahindra Rural Housing Finance Ltd FITcH - A1+ 0.58

Small Industries Development Bank of India cARE - A1+ 0.57

Fedbank Financial Services Ltd. cRISIL - A1+ 0.56

Hongkong & Shanghai Bank Ltd. FITcH - A1+ 0.55

Tata capital Housing Finance Ltd. IcRA - A1+ 0.35

Adani Ports and Special economic Zone Ltd. cARE - A1+ 0.12

Sub Total 90.37


grand Total 100.00



HDFC Money Market Fund (An open-ended debt scheme investing in money market instruments)


l INVESTMENT OBjECTIVETo generate income/capital appreciation through investment in a portfolio comprising substantially of floating rate debt, fixed rate debt instruments swapped for floating rate returns and money market instruments. There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Floater Fund

l FUnD MAnAGER ¥

Shobhit Mehrotra (since February 16, 04) Total experience: Over 25 years

l InCEPTIon DATE (Date of Allotment)January 16, 2003

NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Retail OptionRegular Plan - Growth Option 30.3244Regular Plan - Daily Dividend Reinvestment Option 10.0809Regular Plan - Weekly Dividend Option 10.1382Regular Plan - Monthly Dividend Option 10.1469Wholesale OptionRegular Plan - Growth Option 31.3121Regular Plan - Daily Dividend Reinvestment Option 10.0809Regular Plan - Weekly Dividend Option 10.1383Regular Plan - Monthly Dividend Option 10.1470Direct Plan - Growth Option 31.4858Direct Plan - Daily Dividend Reinvestment Option 10.0809Direct Plan - Weekly Dividend Option 10.1383Direct Plan - Monthly Dividend Option 10.1471


l qUANTITATIVE DATAAverage Maturity * 279 daysMacaulay Duration * 277 daysModified Duration * 252 daysYield to Maturity * 8.75%* computed on the invested amount.



l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option. The Dividend Option offers Daily Dividend Option (with Reinvestment facility only) and Weekly and Monthly Dividend Option (with Payout and Reinvestment facility).

l MINIMUM APPLICATION AMOUNTPurchase : ` 10 lakh and any amount thereafter. Additional Purchase : ` 1 and any amount thereafter.




Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 31, 17 Last 1 Year 6.19 7.32 6.11 10,619 10,732 10,611Oct 30, 15 Last 3 Years 7.52 7.21 6.47 12,434 12,328 12,074Oct 31, 13 Last 5 Years 8.23 7.86 7.22 14,852 14,603 14,176Oct 23, 07 Since Inception 8.16 7.53 6.39 23,753 22,279 19,802

Returns greater than 1 year period are compounded annualized (cAGR). Since Inception returns are calculated on ` 13.1821 (allotment price). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Shobhit Mehrotra, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.

This product is suitable for investors who are seeking ~l income over short terml to generate income / capital appreciation through investment

in a portfolio comprising substantially of floating rate debt, fixed rate debt instruments swapped for floating rate returns and money market instruments

Riskometer



PORTFOLIO


Issuer Rating % to NAVDEBT & DEBT RELATEDgOVERNMENT SECURITIES8.39 SDL 2019 Sovereign 2.598.21 SDL 2019 Sovereign 0.397.86 SDL 2019 Sovereign 0.286.17 GOI 2023 Sovereign 0.267.65 SDL 2027 Sovereign 0.219.23 SDL 2022 Sovereign 0.067.69 SDL 2027 Sovereign 0.01Sub Total 3.80MONEY MARkET INSTRUMENTSCD/CP • Axis Bank Ltd. cRISIL - A1+ 9.05• IcIcI Bank Ltd. cRISIL - A1+ / IcRA

- A1+ 6.85• Indiabulls Housing Finance

Ltd. cRISIL - A1+ 6.50• Indusind Bank Ltd. cRISIL - A1+ 3.55Steel Authority of India Ltd. FITcH - A1+ 2.79National Bank for Agriculture & Rural Development cRISIL - A1+ 2.47Au Small Finance Bank Ltd. cRISIL - A1+ 2.45Small Industries Development Bank of India cARE - A1+ / IcRA - A1+ 1.92Reliance Industries Ltd. IcRA - A1+ 1.64Reliance Jio Infocomm Ltd. cRISIL - A1+ 1.55Adani Transmission Ltd. FITcH - A1+ 0.56Sub Total 39.33CREDIT EXPoSURE • ONGc Petro additions Ltd.

(OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 9.85• Shriram city Union Finance Ltd. cARE - AA+ 5.56• Housing Development

Finance corporation Ltd.£ cRISIL - AAA 4.85• Shriram Transport Finance

company Ltd. FITcH - AA+ 4.45• Power Finance corporation Ltd. cRISIL - AAA 3.23• Union Bank of India FITcH - AA- 3.05Syndicate Bank cARE - AA- 2.83Mahindra & Mahindra Financial Services Ltd. FITcH - AAA 2.12

Issuer Rating % to NAVTata capital Financial Services Ltd. cRISIL - AA+ / IcRA - AAA 1.94Indiabulls Housing Finance Ltd. cARE - AAA 1.83JM Financial credit Solutions Ltd. IcRA - AA 1.65Power Grid corporation of India Ltd. cRISIL - AAA 1.36LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 1.27State Bank of India cRISIL - AA+ 1.26cholamandalam Investment and Finance company Ltd. IcRA - AA+ 1.12L&T Finance Ltd. cARE - AAA 1.11canara Bank cRISIL - AA 1.07HPcL-Mittal Energy Ltd. FITcH - AA 0.90Axis Bank Ltd. cRISIL - AA+ 0.80Gujarat Road and Infra co Ltd. cARE - AAA(SO) 0.70Tata Power company Ltd. IcRA - AA- 0.56Bharti Airtel Ltd. cRISIL - AA+ 0.55Fullerton India credit company Ltd. cARE - AAA 0.40Hero Fincorp Ltd. IcRA - AA+ 0.33ONGc Mangalore Petrochemicals Ltd. FITcH - AAA 0.28Indian Railway Finance corporation Ltd. cRISIL - AAA 0.28Tata Motors Ltd. IcRA - AA 0.11Tata Sons Ltd. cRISIL - AAA 0.04Rural Electrification corporation Ltd. cRISIL - AAA 0.01Sub Total 53.51cash, cash Equivalents and Net current Assets 3.36

grand Total 100.00


Outstanding exposure in derivative instruments Interest Rate Swap (` in crore) 1,900.00

[(An open ended debt scheme predominantly investing in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps / derivatives)]HDFC Floating Rate Debt Fund


n G-Sec, SDL, T-bills 3.80

n cD/cP 39.33








l INVESTMENT OBjECTIVETo generate income / capital appreciation through investment in debt securities and money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Ultra Short Duration Fund

l FUnD MAnAGER ¥

Anil Bamboli (since September 25, 18) Total experience: Over 23 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 10.0857Regular Plan - Daily Dividend Reinvestment Option 10.0500Regular Plan - Weekly Dividend Option 10.0532Regular Plan - Monthly Dividend Option 10.0532Direct Plan - Growth Option 10.0893Direct Plan - Daily Dividend Reinvestment Option 10.0500Direct Plan - Weekly Dividend Option 10.0534Direct Plan - Monthly Dividend Option 10.0534




l #BEnCHMARK InDEX: cRISIL Ultra Short Term Debt Index


l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option. The Dividend Option offers Daily Dividend Option (with Reinvestment facility only) and Weekly and Monthly Dividend Option (with Payout and Reinvestment facility).

l MINIMUM APPLICATION AMOUNTPurchase : ` 5,000 and any amount thereafter.




l income over short terml income/capital appreciation through investment in debt

securities and money market instrumentsRiskometer



PORTFOLIO


DEBT & DEBT RELATED


CD/CP

• Rural Electrification corporation Ltd. cARE - A1+ 5.82

• National Bank for Agriculture & Rural Development cRISIL - A1+ 5.74

• Axis Bank Ltd. cRISIL - A1+ 5.66

• Reliance Industries Ltd. cRISIL - A1+ 4.31

• Indusind Bank Ltd. cRISIL - A1+ 4.25

PNB Housing Finance Ltd. cRISIL - A1+ 3.68

Hindustan Zinc Ltd. cRISIL - A1+ 2.90


export - Import Bank of India IcRA - A1+ 2.85

Sub Total 38.10

CREDIT EXPoSURE

• Power Finance corporation Ltd. cRISIL - AAA 6.69


• Small Industries Development Bank of India cARE - AAA 5.85


• Kotak Mahindra Prime Ltd. cRISIL - AAA 4.37

• Tata capital Financial Services Ltd. cRISIL - AA+ 4.34

Mahindra & Mahindra Financial Services Ltd. FITcH - AAA 4.07


Sun Pharma Laboratories Ltd. IcRA - AAA 2.93

ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 2.92

Bajaj Finance Ltd. FITcH - AAA 2.92

National Housing Bank cRISIL - AAA 2.92



UltraTech cement Ltd. cRISIL - AAA 1.46

Volkswagen Finance Pvt. Ltd. FITcH - AAA 1.46

Sundaram Finance Ltd. IcRA - AAA 1.46

Sub Total 53.96


grand Total 100.00


Load is not taken into consideration for computation of performance.

HDFC Ultra Short Term Fund[An open ended ultra-short term debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 3 months and 6 months(Refer page 2 for definition of Macaulay Duration)]


n cD/cP 38.10




n AAA/AAA(SO)/A1+/ A1+(S0) & Equivalent 87.72

n AA+ 4.34n cash, cash Equivalents and



l INVESTMENT OBjECTIVETo generate income through a portfolio comprising money market and debt instruments.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Liquid Fund

l FUnD MAnAGER ¥



NAV (AS ON OCTOBER 31, 2018)^ NAV PER UNIT (`)HDFC Liquid FundRegular Plan - Growth Option 3,551.8822Regular Plan - Daily Dividend Reinvestment Option 1,019.8200Regular Plan - Weekly Dividend Option 1,031.4319Regular Plan - Monthly Dividend Option 1,026.7005Direct Plan - Growth Option 3,567.8560Direct Plan - Daily Dividend Reinvestment Option 1,019.8200Direct Plan - Weekly Dividend Option 1,031.4367Direct Plan - Monthly Dividend Option 1,026.7060HDFC Liquid Fund - Premium PlanRegular Plan - Growth Option 3,623.5554Regular Plan - Daily Dividend Reinvestment Option 1,225.9800





l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option. The Dividend Option offers Daily Dividend Option (Reinvestment facility only) and Weekly and Monthly Dividend Option (with Payout and Reinvestment facility).

l MINIMUM APPLICATION AMOUNTPurchase : Under Growth Option, Weekly Dividend Option and Monthly Dividend Option: ` 5,000 and any amount thereafter. Under Daily Dividend Option: 10,000 and any amount thereafter.Additional Purchase : Under Growth Option, Weekly Dividend Option and Monthly Dividend Option: ` 1,000 and any amount thereafter. Under Daily Dividend Option: ` 5,000 and any amount thereafter.

l REDEMPTIon PRoCEEDSNormally despatched within 1 Business Day.¥ Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total experience - Over 14 years).^ calculated on all calendar days.


PORTFOLIO Issuer Rating % to NAV

DEBT & DEBT RELATED


T-BILLS

91 Days Tbill - ISD 270918 Mat 271218 Sovereign 6.60



91 DAYS T-BILL - MAT 211218 Sovereign 1.19



DcMB ( Discounted cash Management Bills) 59 days- Mat 141218 Sovereign 0.80






Sub Total 19.37


CD/CP

• National Bank for Agriculture & Rural Development

cRISIL - A1+ / FITcH - A1+ / IcRA - A1+ 8.30

• LIc Housing Finance Ltd. cRISIL - A1+ / IcRA - A1+ 5.44

• Rural Electrification corporation Ltd. cARE - A1+ 2.38

• Reliance Jio Infocomm Ltd. cARE - A1+ / cRISIL - A1+ 2.22

• Punjab National Bank cARE - A1+ 1.96

• Tata Sons Ltd. cRISIL - A1+ 1.78

PNB Housing Finance Ltd. cARE - A1+ / cRISIL - A1+ 1.75

Tata Motors Finance Ltd. IcRA - A1+ 1.54

Steel Authority of India Ltd. cARE - A1+ / FITcH - A1+ 1.54

Bajaj Finance Ltd. cRISIL - A1+ 1.47

Vijaya Bank cRISIL - A1+ 1.40

Axis Bank Ltd. cRISIL - A1+ / IcRA - A1+ 1.33

India infoline Finance Ltd. cRISIL - A1+ / IcRA - A1+ 1.33

L&T Finance Ltd. cARE - A1+ / IcRA - A1+ 1.26

Indiabulls Housing Finance Ltd. IcRA - A1+ 1.23

The South Indian Bank Ltd. cARE - A1+ / IcRA - A1+ 1.19

Hero Fincorp Ltd. cRISIL - A1+ 1.19

Reliance Retail Ltd. cARE - A1+ 1.18

Hindustan Zinc Ltd. cRISIL - A1+ 1.04

chennai Petroleum corp Ltd. IcRA - A1+ 0.98

L&T Finance Holdings Ltd. cARE - A1+ 0.98

Aditya Birla Finance Ltd. cRISIL - A1+ 0.94

Vedanta Ltd. cRISIL - A1+ 0.88

IcIcI Bank Ltd. IcRA - A1+ 0.84

Shriram Transport Finance company Ltd. cRISIL - A1+ 0.71

Bajaj Housing Finance Ltd. FITcH - A1+ 0.70

Tata capital Housing Finance Ltd. IcRA - A1+ 0.70

NTPc Ltd. cARE - A1+ 0.69

Aditya Birla capital Ltd. IcRA - A1+ 0.68

Jammu & Kashmir Bank Ltd. cRISIL - A1+ 0.64

Hinduja Leyland Finance Ltd. cARE - A1+ 0.64

canFin Homes Ltd. cARE - A1+ / IcRA - A1+ 0.64

STcI Finance Ltd. cRISIL - A1+ / IcRA - A1+ 0.60

Tata Housing Development company Ltd. cARE - A1+ / FITcH - A1+ 0.59


TMF Holdings Ltd.(subsidiary of Tata Motors Ltd.) cARE - A1+ / IcRA - A1+ 0.58

Aditya Birla Housing Finance Ltd. FITcH - A1+ / IcRA - A1+ 0.56

National Fertilizers Ltd FITcH - A1+ 0.56

Sun Pharma Laboratories Ltd. IcRA - A1+ 0.56

GIc Housing Finance Ltd. IcRA - A1+ 0.52

Motilal Oswal Financial Services Ltd. FITcH - A1+ 0.45

Manappuram Finance Ltd. cARE - A1+ 0.44

Adani Ports and Special economic Zone Ltd. cARE - A1+ / cRISIL - A1+ 0.44

Reliance Industries Ltd. cRISIL - A1+ 0.42

IDFc Bank Ltd. cRISIL - A1+ 0.39

EcL Finance Ltd. IcRA - A1+ 0.35

Kalpataru Power Transmission Ltd. cARE - A1+ 0.35

Tata Power company Ltd. IcRA - A1+ 0.35

Nirma Ltd. cRISIL - A1+ 0.35

Indusind Bank Ltd. cRISIL - A1+ 0.35

Tata Realty and Infrastructure Ltd. IcRA - A1+ 0.30

Volkswagen Finance Pvt. Ltd. FITcH - A1+ 0.28

BASF India Ltd. cRISIL - A1+ 0.28

Magma Fincorp Ltd. cRISIL - A1+ 0.28

IIFL Wealth Finance Ltd. IcRA - A1+ 0.28

Tata Motors Finance Solutions Pvt. Ltd. cARE - A1+ 0.28

TVS credit Services Ltd IcRA - A1+ 0.28

Shriram city Union Finance Ltd. IcRA - A1+ 0.25

HT Media Ltd. IcRA - A1+ 0.21

Kotak Securities Ltd. cRISIL - A1+ 0.21

TGS Investment And Trade Pvt Ltd. FITcH - A1+ 0.21


Hasham Investment and Trading company Private Limited IcRA - A1+ 0.17

Aditya Birla Money Limited FITcH - A1+ 0.17

Infina Finance Pvt. Ltd. cRISIL - A1+ 0.15

Au Small Finance Bank Ltd. FITcH - A1+ 0.14

Adani Transmission Ltd. FITcH - A1+ / IcRA - A1+ 0.15

Power Grid corporation of India Ltd. IcRA - A1+ 0.14

Kotak Mahindra Investments Ltd. cRISIL - A1+ 0.14

Turquoise Investments & Finance Pvt Ltd. cRISIL - A1+ 0.14

chambal Fertilizers & chemicals Ltd. cRISIL - A1+ 0.14

APL Apollo Tubes Ltd. IcRA - A1+ 0.14

Tata Projects Ltd. FITcH - A1+ 0.14

Trapti Trading & Investments Pvt Ltd. FITcH - A1+ 0.14

Bajaj electricals Ltd. IcRA - A1+ 0.13

Shriram Housing Finance Ltd. cARE - A1+ 0.12

Birla TMT Holdings Pvt. Ltd. cARE - A1+ 0.11

Haldia energy Ltd. IcRA - A1+ 0.07

JM Financial Ltd. cARE - A1+ 0.07

Fedbank Financial Services Ltd. cRISIL - A1+ 0.08

Magma Housing Finance cRISIL - A1+ 0.07

L&T Infrastructure Finance company Ltd. cRISIL - A1+ 0.07

JM Financial Products Ltd. IcRA - A1+ 0.04

JM Financial Services Ltd. cARE - A1+ 0.04

HDFC Liquid Fund (An Open ended Liquid scheme)




l regular income over short terml to generate income through a portfolio comprising money

market and debt instruments

Riskometer

Investors understand that their principal will be at low risk




Returns (%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 24, 18 Last 7 days 7.12 7.29 7.66 10,014 10,014 10,015Oct 16, 18 Last 15 days 7.15 7.22 9.13 10,029 10,030 10,038Sep 30, 18 Last 1 Month 7.23 7.52 11.09 10,061 10,064 10,094Oct 31, 17 Last 1 Year 7.00 7.32 6.11 10,700 10,732 10,611Oct 30, 15 Last 3 Years 7.11 7.21 6.47 12,293 12,328 12,074Oct 31, 13 Last 5 Years 7.81 7.86 7.22 14,570 14,603 14,176Oct 17, 00 Since Inception 7.27 N.A. 6.34 35,519 N.A. 30,348

Returns less than 1 year period are simple annualized and greater than 1 year are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anupam Joshi, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.

T-bills 19.37cD/cP 63.18credit Exposure 5.00cash, cash Equivalents and Net current Assets 12.45






PORTFOLIO Issuer Rating % to NAV

Fullerton India credit company Ltd. IcRA - A1+ 0.03

Standard chartered Investments and Loans (India) Ltd. cRISIL - A1+ 0.03

Mahindra & Mahindra Financial Services Ltd. FITcH - A1+ 0.03

Housing and Urban Development corporation Ltd. FITcH - A1+ 0.03

Tube Investments of India Ltd. IcRA - A1+ 0.02

Sundaram BNP Paribas Home Finance Ltd. cRISIL - A1+ 0.01

cholamandalam Investment and Finance company Ltd. cRISIL - A1+ 0.01

L&T Housing Finance Ltd. cRISIL - A1+ 0.01

Power Finance corporation Ltd. cRISIL - A1+ 0.01

Sub Total 63.18

CREDIT EXPoSURE

• Housing Development Finance corporation Ltd.£

cRISIL - AAA / IcRA - AAA(SO) 2.58

LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 0.78

Rural Electrification corporation Ltd. cRISIL - AAA 0.64


export - Import Bank of India c R I S I L - A A A 0.32

Tata capital Financial Services Ltd. IcRA - AAA 0.14

National Housing Bank cRISIL - AAA 0.14

UltraTech cement Ltd. cRISIL - AAA 0.08

HDB Financial Services Ltd. cARE - AAA 0.07

Kotak Mahindra Prime Ltd. cRISIL - AAA 0.07

Aditya Birla Finance Ltd. IcRA - AA+ 0.07

Larsen & Toubro Ltd. cRISIL - AAA 0.04

Sundaram Finance Ltd. IcRA - AAA 0.04

Tata Steel Ltd. cARE - AA 0.03

Sub Total 5.00


grand Total 100.00


HDFC Liquid Fund (An Open ended Liquid scheme) ....Contd from previous page


l INVESTMENT OBjECTIVETo generate returns by investing in debt and money market instruments with overnight maturity.There is no assurance that the investment objective of the Scheme will be realized.

l CATEGoRY oF SCHEME: Overnight Fund

l FUnD MAnAGER ¥

Anil Bamboli (since July 25, 12) Total experience: Over 23 years


NAV (AS ON OCTOBER 31, 2018) NAV PER UNIT (`)Regular Plan - Growth Option 2,741.5866Regular Plan - Daily Dividend Reinvestment Option 1,042.6600Direct Plan - Growth Option 2,750.9081Direct Plan - Daily Dividend Reinvestment Option 1,042.6600


l qUAnTITATIVE DATAAverage Maturity * 1 dayMacaulay Duration * 1 dayModified Duration * 1 dayYield to Maturity * 6.42%* computed on the invested amount.


l #BEnCHMARK InDEX: cRISIL Overnight Index (w.e.f October 28, 2018)


l EXIT LoADNil

l PLANS & OPTIONSRegular Plan, Direct Plan. each Plan offers Growth and Daily Dividend Option (with Reinvestment facility only).

l MINIMUM APPLICATION AMOUNTPurchase : Under Growth Option and Weekly Dividend Option : ` 5,000 and any amount thereafter. Under Daily Dividend Option : ` 10,000 and any amount thereafterAdditional Purchase : Under Growth Option and Weekly Dividend Option : 1,000 and any amount thereafter. Under Daily Dividend Option : ` 5,000 and any amount thereafter



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##




(`)##Oct 24, 18 Last 7 days 6.17 5.89 7.66 10,012 10,011 10,015Oct 16, 18 Last 15 days 6.20 6.20 9.13 10,025 10,025 10,038Sep 30, 18 Last 1 Month 6.08 6.07 11.09 10,052 10,052 10,094Oct 31, 17 Last 1 Year 6.04 6.03 6.11 10,604 10,603 10,611Oct 30, 15 Last 3 Years 6.16 6.23 6.47 11,968 11,993 12,074Oct 31, 13 Last 5 Years 6.83 6.98 7.22 13,918 14,012 14,176Feb 06, 02 Since Inception 6.21 N.A. 5.98 27,416 N.A. 26,455

Returns less than 1 year period are simple annualized and greater than 1 year are compounded annualized (cAGR). N.A. Not Available. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 62.

Face Value per Unit: ` 1,000, Data is as of October 31, 2018 unless otherwise specified.






l regular income over short term that may be in line with the overnight call rates

l to generate returns by investing in debt and money market instruments with overnight maturity

Riskometer

Investors understand that their principal will be at low risk


PORTFOLIO



grand Total 100.00


HDFC Overnight Fund (An open ended debt scheme investing in overnight securities)


Performance details of Schemes managed by respective Fund Managers

Sr. No. Name of the Fund Manager Funds Managed Page no.1 Mr. Prashant Jain HDFC Equity Fund 05

HDFC Top 100 Fund 07HDFC Balanced Advantage Fund 13-14HDFC Hybrid Debt Fund (Co-managed scheme) 31-32

2 Mr. Vinay Kulkarni HDFC Focused 30 Fund 11HDFC Growth Opportunities Fund 10HDFC TaxSaver 23HDFC Equity Savings Fund (Co-managed scheme) 29-30

3 Mr. Srinivas Rao Ravuri HDFC Infrastructure Fund 124 Mr. Chirag Setalvad HDFC Mid-Cap Opportunities Fund 08

HDFC Small Cap Fund 09HDFC Long Term Advantage Fund 52HDFC Hybrid Equity Fund 15-16HDFC Children’s Gift Fund 24-25HDFC Multi-Asset Fund (Co-managed scheme) 17-18HDFC Retirement Savings Fund - Equity Plan (Co-managed scheme) 26HDFC Retirement Savings Fund - Hybrid Equity Plan (Co-managed scheme) 27HDFC Retirement Savings Fund - Hybrid Debt Plan (Co-managed scheme) 28

5 Mr. Miten Lathia HDFC Capital Builder Value Fund 06HDFC Dynamic PE Ratio Fund of Funds (Co-managed scheme) 56

6 Mr. Krishan Kumar Daga HDFC Arbitrage Fund 33-34HDFC Multi-Asset Fund (Co-managed scheme) 17-18HDFC Index Fund - SEnSEx Plan 22HDFC Index Fund - nIFTY 50 Plan 20HDFC SEnSEx ETF 21HDFC nIFTY 50 ETF 19HDFC Gold Exchange Traded Fund 55HDFC Gold Fund 55HDFC Equity Savings Fund (Co-managed scheme) 29-30

7 Mr. Shobhit Mehrotra HDFC Income Fund 41HDFC Medium Term Debt Fund 42HDFC Floating Rate Debt Fund 46HDFC Credit Risk Debt Fund 36-37HDFC Hybrid Debt Fund (Co-managed scheme) 31-32HDFC Retirement Savings Fund - Equity Plan (Co-managed scheme) 26HDFC Retirement Savings Fund - Hybrid Equity Plan (Co-managed scheme) 27HDFC Retirement Savings Fund - Hybrid Debt Plan (Co-managed scheme) 28Close ended schemes 52-53

8 Mr. Anil Bamboli HDFC Dynamic Debt Fund 40HDFC Short Term Debt Fund 43HDFC Gilt Fund 39HDFC Money Market Fund 45HDFC Ultra Short Term Fund 47HDFC Overnight Fund 49HDFC Banking and PSU Debt Fund 38HDFC Equity Savings Fund (Co-managed scheme) 29-30HDFC Multi-Asset Fund (Co-managed scheme) 17-18HDFC Dynamic PE Ratio Fund of Funds (Co-managed scheme) 56Close ended schemes 53-55Co-managed schemes 56

9 Mr. Anupam Joshi HDFC Liquid Fund 48-49HDFC Corporate Bond Fund 35HDFC Low Duration Fund 44Close ended schemes 55-56

For performance details of Direct Plan, refer page 57-64

Exit Load : (i) no exit load shall be levied for switching between Options under the same Plan within a Scheme. (ii) Switch of investments to Direct Plan within the same Scheme shall be subject to applicable exit load, unless the investments were made without any distributor code. However, any subsequent switch-out or redemption of such investments from the Direct Plan will not be subject to any exit load. (iii) no exit load shall be levied for switch-out from Direct Plan to other Plan within the same Scheme. However, any subsequent switch-out or redemption of such investment from the other Plan shall be subject to exit load based on the original date of investment in the Direct Plan. (iv) Switch of investments between Plans under a Scheme having separate portfolios, will be subject to applicable exit load. (v) no exit load will be levied on Bonus Units and Units allotted on Dividend Re-investment. (vi) In case of Systematic Transactions such as SIP, GSIP, Flex SIP, STP, Flex STP, Swing STP, Flexindex; Exit Load, if any, prevailing on the date of registration / enrolment shall be levied.

Tax Benefits / Consequences : The Dividend Distribution Tax on distribution of income by equity oriented fund to all the investors shall be payable at the rate of 11.648%* and on distribution of income by other than equity oriented fund to an individual / HUF shall be payable at the rate of 29.12%* and at the rate of 34.944%* on distribution of income to any other investor. Such income distributed by the Scheme(s) is free from Income–tax in the hands of Investors. Units of the Scheme(s) are not subject to Wealth-tax and Gift-tax. Unit holders are required to pay Securities Transaction Tax (STT) at the rate of 0.001% at the time of redemption / switch-out of units of an equity-oriented fund. * including applicable surcharge, health and education cess.

Investors should be aware that the fiscal rules / tax laws may change and there can be no guarantee that the current tax position may continue indefinitely. In view of individual nature of tax consequences, each investor is advised to consult his / her own professional tax advisor.


SCHEME PERFORMANCE - REGULAR PLAN - GROWTH OPTION (FUND MANAGER-WISE)

SRINIvAS RAO RAvURI HDFC EOF - II - 1126D MAy 2017 (1) NAV as on Oct 31, 2018 ` 10.1570

Date Period Scheme Returns

(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -2.94 -3.17 1.91 9,706 9,683 10,191Jun 15, 17 Since Inception 1.14 4.42 7.63 10,157 10,614 11,066

# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index). The scheme is managed by Mr. Srinivas Rao Ravuri since inception.

HDFC EOF - II - 1100D JUNE 2017 (1) NAV as on Oct 31, 2018 ` 9.8490


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -2.94 -3.17 1.91 9,706 9,683 10,191Jul 17, 17 Since Inception -1.17 2.07 5.03 9,849 10,268 10,654


CHIRAG SETALvAD HDFC LONG TERM ADvANTAGE FUND NAV as on Oct 31, 2018 ` 324.727


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -3.24 4.91 1.91 9,676 10,491 10,191Oct 30, 15 Last 3 Years 12.18 10.33 10.22 14,126 13,436 13,396Oct 31, 13 Last 5 Years 15.60 11.75 11.89 20,653 17,430 17,546Jan 02, 01 Since Inception 21.54 14.65 14.12 324,727 114,572 105,492

# S&P BSE SEnSEx (Total Returns Index) ## nIFTY 50 (Total Returns Index). The scheme is managed by Mr. Chirag Setalvad since April 02, 2007.

SHOBHIT MEHROTRA HDFC FMP 3360D MARCH 2014 (1) NAV as on Oct 31, 2018 ` 13.3013


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Shobhit Mehrotra since inception.

HDFC FMP 1105D DECEMBER 2015 (1) NAV as on Oct 31, 2018 ` 12.3852


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 6.71 1.74 6.11 10,671 10,174 10,611Dec 30, 15 Since Inception 7.83 6.96 6.44 12,385 12,104 11,937

# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Shobhit Mehrotra since inception.

HDFC FMP 1183D JANUARy 2016 (1) NAV as on Oct 31, 2018 ` 12.3382


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 6.43 1.74 6.11 10,643 10,174 10,611Jan 12, 16 Since Inception 7.78 6.92 6.44 12,338 12,062 11,913




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC FMP 1155D FEBRUARy 2016 (1) NAV as on Oct 31, 2018 ` 12.2850


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 6.58 1.74 6.11 10,658 10,174 10,611Feb 09, 16 Since Inception 7.84 7.11 6.45 12,285 12,058 11,858




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 8.49 1.74 6.11 10,849 10,174 10,611Mar 04, 16 Since Inception 9.57 7.10 6.41 12,753 12,001 11,796


Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualized (CAGR). Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. Load is not taken into consideration for computation of performance. n.A.: not Available

Performance of close-ended schemes, being close-ended in nature, is not strictly comparable with that of open-ended schemes since the investment strategy for close-ended schemes is primarily buy-and-hold whereas open-ended schemes are actively managed.





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC FMP 1140D MARCH 2016 (1) NAV as on Oct 31, 2018 ` 12.7086


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC FMP 1172D APRIL 2017 (1) NAV as on Oct 31, 2018 ` 10.9179


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 4.40 1.74 6.11 10,440 10,174 10,611Apr 11, 17 Since Inception 5.81 4.14 5.94 10,918 10,652 10,939




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC FMP 1166D MAy 2017 (1) NAV as on Oct 31, 2018 ` 11.0427


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 5.52 1.74 6.11 10,552 10,174 10,611May 09, 17 Since Inception 6.93 4.07 6.11 11,043 10,607 10,917


HDFC FMP 1136D JUNE 2017 (1) NAV as on Oct 31, 2018 ` 10.9371


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 5.69 1.74 6.11 10,569 10,174 10,611Jun 08, 17 Since Inception 6.62 2.62 6.07 10,937 10,368 10,858


HDFC FMP 1430D JULy 2017 (1) NAV as on Oct 31, 2018 ` 10.5270


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 3.75 1.74 6.11 10,375 10,174 10,611Aug 01, 17 Since Inception 4.20 1.87 6.02 10,527 10,234 10,758


ANIL BAMBOLI HDFC CHARITy FUND FOR CANCER CURE - DEBT PLAN^

NAV as on Oct 31, 2018 ` 10.1087


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Short Term Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Anil Bamboli since inception. ^Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Debt Plan - Regular Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

HDFC FMP 1846D AUGUST 2013 (1) NAV as on Oct 31, 2018 ` 15.2564


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 4.80 1.74 6.11 10,480 10,174 10,611Oct 30, 15 Last 3 Years 6.53 6.78 6.47 12,094 12,179 12,074Oct 31, 13 Last 5 Years 8.00 8.58 7.22 14,694 15,098 14,176Aug 14, 13 Since Inception 8.43 8.86 7.41 15,256 15,571 14,517

# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 6.80 1.74 6.11 10,680 10,174 10,611Oct 30, 15 Last 3 Years 7.68 6.78 6.47 12,489 12,179 12,074Feb 05, 14 Since Inception 9.33 8.72 7.26 15,256 14,862 13,939


SHOBHIT MEHROTRA....CONTINUED







(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Short Term Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC FMP 1111D NOvEMBER 2015 (1) NAV as on Oct 31, 2018 ` 12.4131


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC FMP 1111D SEPTEMBER 2016 (1) NAV as on Oct 31, 2018 ` 11.8782


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 7.26 1.74 6.11 10,726 10,174 10,611Sep 15, 16 Since Inception 8.43 4.93 6.14 11,878 11,077 11,350




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




ANIL BAMBOLI....CONTINUED





KRISHAN KUMAR DAGA

HDFC GOLD EXCHANGE TRADED FUND*

NAV as on Oct 31, 2018 ` 2921.6849

Date Period Scheme Returns (%)

Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Oct 31, 17 Last 1 Year 7.68 8.93 10,768 10,893Oct 30, 15 Last 3 Years 5.05 6.23 11,595 11,991Oct 31, 13 Last 5 Years 0.74 1.84 10,376 10,954Aug 13, 10 Since Inception 6.07 6.87 16,229 17,268

# Domestic Price of Physical Gold. Since inception returns are calculated on 1800.3288 (allotment price) * The Scheme does not offer any Plans/Options. The scheme is managed by Mr. Krishan Kumar Daga since October 19, 2015.

HDFC GOLD FUND NAV as on Oct 31, 2018 ` 10.4209


Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Oct 31, 17 Last 1 Year 7.39 8.93 10,739 10,893Oct 30, 15 Last 3 Years 4.72 6.23 11,488 11,991Oct 31, 13 Last 5 Years -0.65 1.84 9,679 10,954nov 01, 11 Since Inception 0.59 2.35 10,421 11,767

# Domestic Price of Physical Gold. The scheme is managed by Mr. Krishan Kumar Daga since October 19, 2015.

HDFC CHARITy FUND FOR CANCER CURE - ARBITRAGE PLAN^

NAV as on Oct 31, 2018 ` 10.0650


(%)

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 invested Scheme

(`)Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year 3.04 4.90 1.91 10,304 10,490 10,191Mar 27, 17 Since Inception 4.42 4.71 10.65 10,715 10,762 11,755

# nIFTY 50 Arbitrage Index ## nIFTY 50 Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Krishan Kumar Daga since inception. ^ Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Arbitrage Plan - Regular Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

ANUPAM JOSHI HDFC FMP 1120D MARCH 2016 (1) NAV as on Oct 31, 2018 ` 12.1426


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Anupam Joshi since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year 6.22 1.74 6.11 10,622 10,174 10,611Apr 21, 16 Since Inception 7.34 6.47 6.31 11,963 11,718 11,672




(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year 6.71 1.74 6.11 10,671 10,174 10,611May 31, 16 Since Inception 8.74 6.47 6.32 12,247 11,636 11,598




(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year 6.75 1.74 6.11 10,675 10,174 10,611May 05, 16 Since Inception 8.78 6.46 6.31 12,331 11,686 11,647




(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year 6.04 1.74 6.11 10,604 10,174 10,611Jun 08, 16 Since Inception 7.51 6.47 6.30 11,895 11,621 11,578




(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year 5.73 1.74 6.11 10,573 10,174 10,611Jul 07, 16 Since Inception 7.34 6.09 6.25 11,785 11,469 11,508








(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year 7.13 1.74 6.11 10,713 10,174 10,611Jul 27, 16 Since Inception 8.45 5.63 6.20 12,015 11,320 11,459


CO-MANAGED By MITEN LATHIA & ANIL BAMBOLI

HDFC DyNAMIC PE RATIO FUND OF FUNDS

NAV as on Oct 31, 2018 ` 17.5103


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -3.54 2.10 1.91 9,646 10,210 10,191Oct 30, 15 Last 3 Years 8.70 9.08 10.22 12,848 12,985 13,396Oct 31, 13 Last 5 Years 8.95 10.78 11.89 15,352 16,691 17,546Feb 06, 12 Since Inception 8.67 10.59 11.74 17,510 19,703 21,120

# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. The scheme is co-managed by Mr. Miten Lathia & Mr. Anil Bamboli since June 27, 2014.

CO-MANAGED ByKRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC DAF - II - 1160D JANUARy 2016

NAV as on Oct 31, 2018 ` 11.9714


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# nIFTY 50 Hybrid Short Duration Debt 25:75 Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is co-managed by Mr. Krishan Kumar Daga & Anil Bamboli since inception.

HDFC DAF - II - 1099D MARCH 2016 NAV as on Oct 31, 2018 ` 11.5861


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC DAF - II - 1111D APRIL 2016 NAV as on Oct 31, 2018 ` 11.5673


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC DAF - III - 1304D AUGUST 2016 NAV as on Oct 31, 2018 ` 11.1050


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC DAF - III - 1267D OCTOBER 2016 NAV as on Oct 31, 2018 ` 10.9333


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 2.56 3.88 6.11 10,256 10,388 10,611Oct 25, 16 Since Inception 4.52 8.15 6.02 10,933 11,711 11,250


HDFC DAF - III - 1224D NOvEMBER 2016 NAV as on Oct 31, 2018 ` 10.8605


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#





Performance of close-ended Scheme is not strictly comparable with that of open-ended schemes since the investment strategy for close-ended schemes is primarily buy and hold whereas open ended schemes are actively managed.

ANUPAM JOSHI....CONTINUED


SCHEME PERFORMANCE - DIRECT PLAN - GROWTH OPTION (FUND MANAGER-WISE)

PRASHANT JAIN HDFC EQUITy FUND NAV as on Oct 31, 2018 ` 640.620Date Period Scheme

Returns (%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC TOP 100 FUND NAV as on Oct 31, 2018 ` 469.322


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Oct 31, 17 Last 1 Year -0.79 0.09 4.91 9,921 10,009 10,491Oct 30, 15 Last 3 Years 11.99 10.53 10.33 14,056 13,511 13,436Oct 31, 13 Last 5 Years 15.59 12.91 11.75 20,643 18,360 17,430Jan 01, 13 Since Inception 13.10 12.08 11.76 20,500 19,445 19,124

# nIFTY 100 (Total Returns Index) ## S&P BSE SEnSEx (Total Returns Index).

HDFC BALANCED ADvANTAGE FUND NAV as on Oct 31, 2018 ` 190.194


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments. Refer to note on performance disclosure on Page no. 13.

vINAy KULKARNI HDFC FOCUSED 30 FUND NAV as on Oct 31, 2018 ` 76.394


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##



HDFC GROWTH OPPORTUNITIES FUND NAV as on Oct 31, 2018 ` 106.734


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


# nIFTY Large Midcap 250 (Total Returns Index) ## S&P BSE SEnSEx (Total Returns Index). The Scheme, formerly a large cap fund, has undergone change in Fundamental attributes w.e.f. May 23, 2018 and become a Large and Mid-cap Fund. Accordingly, the Scheme’s benchmark has also changed. Hence, the past performance of the Scheme may not strictly be comparable with that of the new benchmark.

HDFC TAXSAvER NAV as on Oct 31, 2018 ` 509.168


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -7.71 -3.17 1.91 9,229 9,683 10,191Oct 30, 15 Last 3 Years 9.87 10.39 10.22 13,269 13,459 13,396Oct 31, 13 Last 5 Years 15.70 14.04 11.89 20,746 19,297 17,546Jan 01, 13 Since Inception 13.25 12.22 11.42 20,663 19,589 18,792


CHIRAG SETALvAD HDFC MID-CAP OPPORTUNITIES FUND NAV as on Oct 31, 2018 ` 54.022


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# nIFTY Midcap 100 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC SMALL CAP FUND NAV as on Oct 31, 2018 ` 44.410


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 1.91 -28.39 1.91 10,191 7,161 10,191Oct 30, 15 Last 3 Years 18.16 5.17 10.22 16,511 11,637 13,396Oct 31, 13 Last 5 Years 22.14 15.80 11.89 27,197 20,831 17,546Jan 01, 13 Since Inception 19.24 9.75 11.42 27,915 17,208 18,792

# nIFTY Smallcap 100 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC HyBRID EQUITy FUND NAV as on Oct 31, 2018 ` 51.384


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Refer to note on performance disclosure on Page no. 15.

HDFC CHILDREN’S GIFT FUND NAV as on Oct 31, 2018 ` 117.896


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments.

HDFC LONG TERM ADvANTAGE FUND NAV as on Oct 31, 2018 ` 336.167


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# S&P BSE SEnSEx (Total Returns Index) ## nIFTY 50 (Total Returns Index).




SRINIvAS RAO RAvURI HDFC EOF - II - 1126D MAy 2017 (1) NAV as on Oct 31, 2018 ` 10.3700


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -1.56 -3.17 1.91 9,844 9,683 10,191Jun 15, 17 Since Inception 2.67 4.42 7.63 10,370 10,614 11,066


HDFC EOF - II - 1100D JUNE 2017 (1) NAV as on Oct 31, 2018 ` 10.0870


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -1.12 -3.17 1.91 9,888 9,683 10,191Jul 17, 17 Since Inception 0.67 2.07 5.03 10,087 10,268 10,654


HDFC INFRASTRUCTURE FUND NAV as on Oct 31, 2018 ` 15.953


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -28.92 -3.17 1.91 7,108 9,683 10,191Oct 30, 15 Last 3 Years -0.08 10.39 10.22 9,977 13,459 13,396Oct 31, 13 Last 5 Years 12.92 14.04 11.89 18,366 19,297 17,546Jan 01, 13 Since Inception 6.33 12.22 11.42 14,305 19,589 18,792


SHOBHIT MEHROTRA HDFC INCOME FUND NAV as on Oct 31, 2018 ` 40.3281


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 0.36 1.74 -0.47 10,036 10,174 9,953Oct 30, 15 Last 3 Years 6.02 6.78 5.44 11,921 12,179 11,726Oct 31, 13 Last 5 Years 8.30 8.58 6.99 14,905 15,098 14,018Jan 01, 13 Since Inception 7.48 7.88 6.13 15,234 15,568 14,152

# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index.

HDFC MEDIUM TERM DEBT FUND NAV as on Oct 31, 2018 ` 36.4695


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 4.40 4.69 6.11 10,440 10,469 10,611Oct 30, 15 Last 3 Years 7.69 7.11 6.47 12,495 12,292 12,074Oct 31, 13 Last 5 Years 8.71 8.13 7.22 15,183 14,787 14,176Jan 01, 13 Since Inception 8.49 8.16 7.01 16,081 15,798 14,843

# CRISIL Short Term Bond Fund Index ## CRISIL 1 year T-Bill Index.

HDFC FLOATING RATE DEBT FUND NAV as on Oct 31, 2018 ` 31.4858


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Liquid Fund Index ## CRISIL 1 year T-Bill Index.

HDFC CREDIT RISK DEBT FUND NAV as on Oct 31, 2018 ` 15.2510


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Short Term Bond Fund Index ## CRISIL 10 year Gilt Index. Refer to note on performance disclosure on Page no. 36.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Shobhit Mehrotra since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#










(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 3.85 1.74 6.11 10,385 10,174 10,611Aug 01, 17 Since Inception 4.30 1.87 6.02 10,540 10,234 10,758


KRISHAN KUMAR DAGA

HDFC ARBITRAGE FUND - WHOLESALE PLAN NAV as on Oct 31, 2018 ` 13.649


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 6.23 4.90 1.91 10,623 10,490 10,191Oct 30, 15 Last 3 Years 6.51 5.26 10.22 12,086 11,666 13,396Apr 07, 14 Since Inception 7.04 6.34 11.54 13,649 13,245 16,473

# nIFTY 50 Arbitrage Index ## nIFTY 50 (Total Returns Index). Scheme performance is not strictly comparable with that of its Additional Benchmark since the scheme does not take directional call in equity markets but is limited to availing arbitrage opportunities, etc.

SHOBHIT MEHROTRA....CONTINUED





HDFC INDEX FUND - SENSEX PLAN NAV as on Oct 31, 2018 ` 307.6461


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# S&P BSE SEnSEx (Total Returns Index) ## nIFTY 50 (Total Returns Index). Refer to note on performance disclosure on Page no. 22.

HDFC INDEX FUND - NIFTy 50 PLAN NAV as on Oct 31, 2018 ` 95.003


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC GOLD FUND NAV as on Oct 31, 2018 ` 10.6526


Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Oct 31, 17 Last 1 Year 7.88 8.93 10,788 10,893Oct 30, 15 Last 3 Years 5.20 6.23 11,647 11,991Oct 31, 13 Last 5 Years -0.24 1.84 9,879 10,954Jan 01, 13 Since Inception -0.64 0.77 9,633 10,457

# Domestic Price of Physical Gold. The scheme is managed by Mr. Krishan Kumar Daga since October 19, 2015.

HDFC CHARITy FUND FOR CANCER CURE - ARBITRAGE PLAN^ NAV as on Oct 31, 2018 ` 10.0650


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# nIFTY 50 Arbitrage Index ## nIFTY 50 Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Krishan Kumar Daga since inception. ^Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Arbitrage Plan - Direct Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

ANUPAM JOSHI HDFC LIQUID FUND NAV as on Oct 31, 2018 ` 3567.8560


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 24, 18 Last 7 days 7.22 7.29 7.66 10,014 10,014 10,015Oct 16, 18 Last 15 days 7.25 7.22 9.13 10,030 10,030 10,038Sep 30, 18 Last 1 Month 7.33 7.52 11.09 10,062 10,064 10,094Oct 31, 17 Last 1 Year 7.11 7.32 6.11 10,711 10,732 10,611Oct 30, 15 Last 3 Years 7.21 7.21 6.47 12,328 12,328 12,074Oct 31, 13 Last 5 Years 7.90 7.86 7.22 14,627 14,603 14,176Dec 31, 12 Since Inception 8.10 8.03 7.01 15,751 15,693 14,849

Returns less than 1 year period are simple annualized. # CRISIL Liquid Fund Index ## CRISIL 1 year T-Bill Index.

HDFC CORPORATE BOND FUND NAV as on Oct 31, 2018 ` 19.8954


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. Refer to note on performance disclosure on Page no. 35.

HDFC LOW DURATION FUND NAV as on Oct 31, 2018 ` 39.3098


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






KRISHAN KUMAR DAGA....CONTINUED



ANUPAM JOSHI....CONTINUED



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 5.79 1.74 6.11 10,579 10,174 10,611Jul 07, 16 Since Inception 7.67 6.09 6.25 11,870 11,469 11,508




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 7.29 1.74 6.11 10,729 10,174 10,611Jul 27, 16 Since Inception 9.10 5.63 6.20 12,178 11,320 11,459




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




ANIL BAMBOLI HDFC DyNAMIC DEBT FUND NAV as on Oct 31, 2018 ` 61.8990


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index.

HDFC SHORT TERM DEBT FUND NAV as on Oct 31, 2018 ` 19.9480


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC GILT FUND NAV as on Oct 31, 2018 ` 36.4577


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Dynamic Gilt Index ## CRISIL 10 year Gilt Index.

HDFC BANKING AND PSU DEBT FUND NAV as on Oct 31, 2018 ` 14.4670


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC MONEy MARKET FUND NAV as on Oct 31, 2018 ` 3780.8573


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 7.23 7.32 6.11 10,723 10,732 10,611Oct 30, 15 Last 3 Years 7.26 7.21 6.47 12,346 12,328 12,074Oct 31, 13 Last 5 Years 7.92 7.86 7.22 14,643 14,603 14,176Dec 31, 12 Since Inception 8.11 8.03 7.01 15,759 15,693 14,849






HDFC OvERNIGHT FUND NAV as on Oct 31, 2018 ` 2750.9081


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 24, 18 Last 7 days 6.27 5.89 7.66 10,012 10,011 10,015Oct 16, 18 Last 15 days 6.30 6.20 9.13 10,026 10,025 10,038Sep 30, 18 Last 1 Month 6.18 6.07 11.09 10,052 10,052 10,094Oct 31, 17 Last 1 Year 6.10 6.03 6.11 10,610 10,603 10,611Oct 30, 15 Last 3 Years 6.23 6.23 6.47 11,990 11,993 12,074Oct 31, 13 Last 5 Years 6.89 6.98 7.22 13,958 14,012 14,176Dec 31, 12 Since Inception 7.09 7.16 7.01 14,914 14,975 14,849

Returns less than 1 year period are simple annualized. # CRISIL Overnight Index ## CRISIL 1 year T-Bill Index.

HDFC CHARITy FUND FOR CANCER CURE - DEBT PLAN^

NAV as on Oct 31, 2018 ` 10.1087


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Short Term Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Anil Bamboli since inception. ^ Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Debt Plan - Direct Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

HDFC FMP 1846D AUGUST 2013 (1) NAV as on Oct 31, 2018 ` 15.5000


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 5.14 1.74 6.11 10,514 10,174 10,611Oct 30, 15 Last 3 Years 6.86 6.78 6.47 12,206 12,179 12,074Oct 31, 13 Last 5 Years 8.33 8.58 7.22 14,919 15,098 14,176Aug 14, 13 Since Inception 8.76 8.86 7.41 15,500 15,571 14,517




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Short Composite Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC FMP 1111D NOvEMBER 2015 (1) NAV as on Oct 31, 2018 ` 12.5313


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#











(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




MITEN LATHIA HDFC CAPITAL BUILDER vALUE FUND NAV as on Oct 31, 2018 ` 284.705


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




CO-MANAGED By PRASHANT JAIN & SHOBHIT MEHROTRA

HDFC HyBRID DEBT FUND NAV as on Oct 31, 2018 ` 44.7044


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -1.70 1.86 -0.47 9,830 10,186 9,953Oct 30, 15 Last 3 Years 7.51 7.02 5.44 12,432 12,263 11,726Oct 31, 13 Last 5 Years 10.82 8.81 6.99 16,722 15,258 14,018Jan 01, 13 Since Inception 9.40 8.26 6.13 16,886 15,890 14,152

# nIFTY 50 Hybrid Composite Debt 15:85 Index ## CRISIL 10 year Gilt Index. Refer to note on performance disclosure on Page no. 32.

CO-MANAGED By ANIL BAMBOLI & MITEN LATHIA

HDFC DyNAMIC PE RATIO FUND OF FUNDS NAV as on Oct 31, 2018 ` 18.3664


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. The scheme is managed by Mr. Anil Bamboli & Miten Lathia since June 27, 2014.

CO-MANAGED By CHIRAG SETALvAD, ANIL BAMBOLI & KRISHAN KUMAR DAGA

HDFC MULTI - ASSET FUND NAV as on Oct 31, 2018 ` 31.1010


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# 90% nIFTY 50 Hybrid Composite Debt 65:35 Index + 10% Domestic Price of Gold ## nIFTY 50 (Total Returns Index). The Scheme formerly, a debt oriented hybrid fund, has undergone change in Fundamental attributes w.e.f. May 23, 2018 and become a multi asset fund investing in equities, debt and gold. Accordingly, the Scheme’s benchmark and additional benchmarks have also changed. Hence, the past performance of the Scheme since inception till May 22, 2018 may not strictly be comparable with those of the new benchmark and the additional benchmark. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in debt instruments and gold.

CO-MANAGED By vINAy KULKARNI, KRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC EQUITy SAvINGS FUND NAV as on Oct 31, 2018 ` 37.0100


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# 40% nIFTY 50 Arbitrage Index, 30% CRISIL Short Term Bond Fund Index and 30% nIFTY 50 (Total Returns Index) ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark, since a portion of scheme’s investments are made in equity instruments.






CO-MANAGED By KRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC DAF - II - 1160D JANUARy 2016 NAV as on Oct 31, 2018 ` 12.4999


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC DAF - II - 1099D MARCH 2016 NAV as on Oct 31, 2018 ` 12.1134


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC DAF - II - 1111D APRIL 2016 NAV as on Oct 31, 2018 ` 11.9957


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC DAF - III - 1304D AUGUST 2016 NAV as on Oct 31, 2018 ` 11.5030


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




HDFC DAF - III - 1267D OCTOBER 2016 NAV as on Oct 31, 2018 ` 11.3331


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 4.04 3.88 6.11 10,404 10,388 10,611Oct 25, 16 Since Inception 6.40 8.15 6.02 11,333 11,711 11,250


HDFC DAF - III - 1224D NOvEMBER 2016 NAV as on Oct 31, 2018 ` 11.2220


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#




CO-MANAGED By CHIRAG SETALvAD & SHOBHIT MEHROTRA

HDFC RETIREMENT SAvINGS FUND - EQUITy PLAN NAV as on Oct 31, 2018 ` 16.458


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year -3.35 -3.17 1.91 9,665 9,683 10,191Feb 25, 16 Since Inception 20.41 18.03 17.72 16,458 15,601 15,489


HDFC RETIREMENTSAvINGS FUND - HyBRID EQUITy PLAN NAV as on Oct 31, 2018 ` 16.181


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index).

HDFC RETIREMENT SAvINGS FUND - HyBRID DEBT PLAN NAV as on Oct 31, 2018 ` 13.0106


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Oct 31, 17 Last 1 Year 0.23 1.86 -0.47 10,023 10,186 9,953Feb 26, 16 Since Inception 10.32 8.69 5.80 13,011 12,503 11,632

# nIFTY 50 Hybrid Composite Debt 15:85 Index ## CRISIL 10 Year Gilt Index.



Managing Portfolio Since

Returns (%) (As on October 31, 2018)

Last 1 year (%) Last 3 years (%) Last 5 years (%)Category I - FPI Portfolio (managed under a bilateral agreement under Regulation 24(b) and subject to applicable laws)

March 22, 2016 2.58 n.A. n.A.

Benchmark- MSCI India (Total Returns) 0.31 n.A. n.A.Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualised (CAGR). Inception date is March 22, 2016. The performance is not comparable with the performance of the aforementioned scheme(s) of HDFC Mutual Fund due to differing investment objective/s and fundamental differences in asset allocation, investment strategy and the regulatory environment. The said disclosure is pursuant to SEBI Circular no. Cir/IMD/DF/7/2012 dated February 28, 2012 pertaining to Regulation 24(b) of SEBI (Mutual Funds) Regulations, 1996. FPI - Foreign Portfolio Investor.

PERFORMANCE OF CATEGORy I - FPI PORTFOLIO (MANAGED By PRASHANT JAIN)


Dividend History ^

^ Past performance may or may not be sustained in the future. There is no assurance or guarantee to Unit holders as to rate/quantum of dividend distribution nor that the dividends will be paid regularly. After payment of the dividend, the per Unit nAV falls to the extent of the payout and statutory levy, if any. Please log on to www.hdfcfund.com for Record Date-wise listing of dividends declared.

HDFC Equity Fund (Past 3 years) Dividend Option

Record Date Regular Plan Direct Plan

Cum Div NAV (`)

Dividend per Unit (`) For Cum Div NAV (`)

Dividend per Unit (`) For

Individuals & HUF Others Individuals & HUF OthersMar 17, 16 45.848 4.50 4.50 47.059 4.50 4.50Mar 23, 17 54.903 5.00 5.00 56.993 5.00 5.00Mar 22, 18 55.480 5.50 5.50 58.320 5.50 5.50

HDFC Top 100 Fund (Past 3 years) Dividend Option


Cum Div NAV (`)




HDFC Capital Builder Value Fund (Past 3 years) Dividend Option


Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersFeb 25, 16 23.429 2.75 2.75 23.920 2.75 2.75Mar 01, 17 28.767 3.00 3.00 29.796 3.00 3.00Feb 22, 18 31.809 3.50 3.50 33.423 3.50 3.50

HDFC Focused 30 Fund (Past 3 years) Dividend Option


Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersFeb 25, 16 16.580 2.00 2.00 16.988 2.00 2.00Mar 01, 17 20.219 2.00 2.00 21.216 2.00 2.00Feb 22, 18 21.508 2.25 2.25 22.914 2.25 2.25

HDFC Arbitrage Fundnormal Dividend Option (Past 3 months)Record Date Wholesale Plan Direct Plan

Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersAug 23, 18 10.475 0.050 0.050 10.805 0.050 0.050 Sep 21, 18 10.460 0.050 0.050 10.795 0.050 0.050 Oct 19, 18 10.460 0.050 0.050 10.801 0.050 0.050

Monthly Dividend Option (Past 3 months)Record Date Wholesale Plan Wholesale Plan - Direct Plan

Cum Div NAV (`)




HDFC Growth Opportunities Fund (Past 3 years) Dividend Option


Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersFeb 18, 16 - - - 19.186 1.75 1.75Feb 23, 17 22.342 2.25 2.25 24.880 2.25 2.25Mar 01, 18 22.901 2.25 2.25 25.854 2.25 2.25

HDFC Mid-Cap Opportunities Fund (Past 3 years) Dividend Option


Cum Div NAV (`)




HDFC Small Cap Fund (Past 3 years) Dividend Option


Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersFeb 25, 16 17.986 2.00 2.00 18.565 1.99 1.99Mar 01, 17 22.892 2.00 2.00 24.040 2.00 2.00Mar 22, 18 28.810 2.75 2.75 30.776 1.00 1.00

HDFC Hybrid Equity Fund (Past 3 quarters) Dividend Option


Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersMar 26, 18 ¤ 31.005 0.700 0.700 34.121 0.700 0.700Jun 25, 18 12.614 0.320 0.320 13.183 0.320 0.320Sep 25, 18 12.214 0.320 0.320 12.822 0.320 0.320

¤ Effective close of business hours of June 1, 2018, HDFC Balanced Fund merged with HDFC Premier Multi Cap Fund (HDFC Hybrid Equity Fund after changes in fundamental attributes). As the portfolio characteristics and the broad investment strategy of HDFC Hybrid Equity Fund is similar to that of erstwhile HDFC Balanced Fund, the track record (i.e. since inception date dividend history, etc) and past performance of erstwhile HDFC Balanced Fund has been considered, in line with SEBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.

HDFC Balanced Advantage Fund (Past 3 months) Dividend Option


Cum Div NAV (`)




HDFC TaxSaver (Past 3 years) Dividend Option(An open-ended equity linked savings scheme with a lock-in period of 3 years)


Cum Div NAV (`)




HDFC Infrastructure Fund (Past 3 years) Dividend Option


Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersMar 17, 16 12.129 1.000 1.000 - - -Mar 23, 17 14.388 1.500 1.500 17.736 1.500 1.500Mar 15, 18 14.630 1.750 1.750 18.570 1.750 1.750

HDFC Hybrid Debt Fund Monthly Dividend Option (Past 3 months)Record Date Regular Plan Direct Plan

Cum Div NAV (`)


Dividend per Unit (`) ForIndividuals & HUF Others Individuals & HUF Others

Aug 27, 18 13.5198 0.0800 0.0741 14.0304 0.0800 0.0741 Sep 25, 18 13.1599 0.0800 0.0741 13.6676 0.0800 0.0741 Oct 25, 18 12.9461 0.0800 0.0741 13.4557 0.0800 0.0741

Quarterly Dividend Option (Past 3 quarters)Record Date Regular Plan Direct Plan

Cum Div NAV (`)



Mar 26, 18 14.5376 0.2400 0.2224 15.0201 0.2400 0.2224Jun 25, 18 14.1797 0.2400 0.2222 14.6858 0.2400 0.2222Sep 25, 18 13.9404 0.2400 0.2222 14.4729 0.2400 0.2222


Dividend History ^

^ Past performance may or may not be sustained in the future. There is no assurance or guarantee to Unit holders as to rate/quantum of dividend distribution nor that the dividends will be paid regularly. After payment of the dividend, the per Unit nAV falls to the extent of the payout and statutory levy, if any. Please log on to www.hdfcfund.com for Record Date-wise listing of dividends declared.

HDFC Equity Savings Fund (Past 3 quarters) Dividend Option

Record Date Regular Plan Direct PlanCum Div NAV (`)



Mar 26, 18 11.6260 0.2500 0.2500 12.2430 0.2500 0.2500Jun 25, 18 11.4760 0.2210 0.2210 12.1520 0.2210 0.2210Sep 25, 18 11.4350 0.2210 0.2210 12.1760 0.2210 0.2210

HDFC Multi-Asset Fund (Past 3 years) Dividend Option




Mar 03, 16 11.9008 0.7223 0.6692 12.5570 0.7223 0.6692Mar 09, 17 12.3216 0.7945 0.7361 13.1369 0.7945 0.7361Mar 01, 18 12.2077 0.7945 0.7361 13.1690 0.7945 0.7361

HDFC Income Fund (Past 3 quarters) Quarterly Dividend Option




Mar 26, 18 10.8005 0.0500 0.0463 11.3149 0.0500 0.0463Jun 25, 18 10.7511 0.0500 0.0463 11.2820 0.0500 0.0463Sep 25, 18 10.7248 0.0500 0.0463 11.2729 0.0500 0.0463

HDFC Dynamic Debt FundQuarterly Dividend Option (Past 3 quarters) Record Date Regular Plan Direct Plan

Cum Div NAV (`)



Mar 26, 18 11.8497 0.0500 0.0463 12.3583 0.0500 0.0463Jun 25, 18 11.7857 0.0500 0.0463 12.3138 0.0500 0.0463Sep 25, 18 11.7741 0.0500 0.0463 12.3239 0.0500 0.0463

Half-yearly (Dividend Option) (Past 2 years) Record Date Regular Plan Direct Plan

Cum Div NAV (`)



Sep 25, 17 11.8876 0.3000 0.2779 12.8166 0.3000 0.2779Mar 26, 18 11.3726 0.1000 0.0926 12.3307 0.1000 0.0926Sep 25, 18 11.2951 0.1000 0.0926 - - -

Yearly (Dividend Option) (Past 3 years) Record Date Regular Plan Direct Plan

Cum Div NAV (`)



Mar 28, 16 13.0240 0.4000 0.3706 13.4221 0.4500 0.4169Mar 27, 17 13.8526 0.8500 0.7875 14.3149 0.8500 0.7875Mar 26, 18 13.0626 0.4000 0.3706 13.6262 0.4000 0.3706

HDFC Medium Term Debt Fundnormal Dividend Option (Past 3 months)Record Date Regular Plan Direct Plan

Cum Div NAV (`)



May 11, 17 - - - 10.6307 0.0150 0.0139May 25, 17 - - - 10.6651 0.0398 0.0369Jun 12, 17 - - - 10.6935 0.0603 0.0559Jul 10, 17 - - - 10.6603 0.0363 0.0337

HDFC Corporate Bond FundQuarterly Dividend Option (Past 3 quarters) Record Date Regular Plan Direct Plan

Cum Div NAV (`)



Mar 26, 18 10.3036 0.0982 0.0910 10.2015 0.1000 0.0926Jun 25, 18 10.2326 0.0468 0.0433 10.1312 0.0489 0.0453Sep 25, 18 10.2690 0.0731 0.0677 10.1666 0.0745 0.0690

HDFC Gilt Fund(Dividend Option) (Past 3 quarters) Record Date Regular Plan Direct Plan

Cum Div NAV (`)



Mar 26, 18 10.9353 0.0500 0.0463 11.2236 0.0500 0.0463Jun 25, 18 10.9117 0.0500 0.0463 11.2117 0.0500 0.0463Sep 25, 18 10.9269 0.0500 0.0463 11.2391 0.0500 0.0463

HDFC Liquid FundMonthly Dividend Option (Past 3 months) Record Date

Regular Plan Direct PlanCum Div NAV (`)



Aug 27, 18 1031.7016 3.8909 3.6030 1031.7811 3.9482 3.6560 Sep 24, 18 1031.7064 3.8944 3.6062 1031.7832 3.9497 3.6574 Oct 29, 18 1033.3495 5.0779 4.7022 1033.4496 5.1500 4.7689

HDFC Floating Rate Debt FundMonthly Dividend Option (Past 3 months) Record Date Wholesale Option Wholesale Option - Direct Plan

Cum Div NAV (`)



Aug 27, 18 10.2036 0.0429 0.0397 10.2024 0.0420 0.0389 Sep 24, 18 10.1670 0.0165 0.0153 10.1681 0.0173 0.0160 Oct 29, 18 10.2184 0.0535 0.0496 10.2199 0.0546 0.0506Record Date Retail Option

Cum Div NAV (`)

Dividend per Unit (`) ForIndividuals & HUF Others

Aug 27, 18 10.2009 0.0409 0.0379 Sep 24, 18 10.1654 0.0153 0.0142 Oct 29, 18 10.2166 0.0522 0.0484

HDFC Low Duration FundMonthly Dividend Option (Past 3 months) Record Date Retail Option Retail Option - Direct Plan

Cum Div NAV (`)



Aug 27, 18 10.1938 0.0388 0.0359 10.2015 0.0425 0.0394 Sep 24, 18 10.1537 0.0099 0.0091 10.1614 0.0136 0.0126 Oct 29, 18 10.2371 0.0555 0.0514 10.2198 0.0557 0.0516Record Date Wholesale Option

Cum Div NAV (`)

Dividend per Unit (`) ForIndividuals & HUF Others

Aug 27, 18 10.2186 0.0422 0.0391 Sep 24, 18 10.1785 0.0133 0.0123 Oct 29, 18 10.2112 0.0513 0.0475

HDFC Credit Risk Debt FundHalf-yearly Dividend Option (Past 2 years)


Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersMar 27, 17 10.9005 0.3051 0.2827 10.9506 0.3412 0.3161Sep 25, 17 10.8965 0.3159 0.2927 10.9481 0.1390 0.1288Mar 26, 18 10.6549 0.2889 0.2676 11.0050 0.4355 0.4035Jun 25, 18 10.3049 0.0370 0.0343 10.4776 0.0763 0.0707Sep 25, 18 10.3274 0.0533 0.0493 10.4663 0.0680 0.0630

HDFC Ultra Short Term FundMonthly Dividend Option


Cum Div NAV (`)



Individuals & HUF Others Individuals & HUF OthersOct 29, 18 10.0825 0.0234 0.0217 10.0859 0.0259 0.0239


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