March 2017
CONTENTS page no. MARKET REVIEW... 3 HDFC Growth Fund... 4 HDFC Equity Fund... 5 HDFC Top 200 Fund... 6 HDFC Capital Builder Fund... 7 HDFC Core & Satellite Fund... 8 HDFC Premier Multi-Cap Fund... 9 HDFC Large Cap Fund... 10 HDFC Mid-Cap Opportunities Fund... 11 HDFC Small Cap Fund... 12 HDFC Long Term Advantage Fund... 13 HDFC TaxSaver... 14 HDFC Infrastructure Fund... 15 HDFC Arbitrage Fund... 16 HDFC Index Fund - Sensex Plan... 17 HDFC Index Fund - NIFTY Plan... 18 HDFC Index Fund - Sensex Plus Plan... 19 HDFC Balanced Fund... 20 HDFC Prudence Fund... 21 HDFC Children s Gift Fund - Investment Plan... 22 HDFC Children s Gift Fund - Savings Plan... 23 HDFC RETIREMENT SAVINGS FUND - Equity plan... 24 HDFC RETIREMENT SAVINGS FUND - hybrid Equity plan... 25 HDFC RETIREMENT SAVINGS FUND - hybrid debt plan... 26 HDFC MF Monthly Income Plan - Short Term Plan... 27 HDFC MF Monthly Income Plan - Long Term Plan... 28 HDFC EQUITY SAVINGS Fund... 29 HDFC Multiple Yield Fund - Plan 2005... 30 HDFC Income Fund... 31 HDFC High Interest Fund - Dynamic Plan... 32 HDFC High Interest Fund - Short Term Plan... 33 HDFC Short Term Plan... 34 HDFC Short Term Opportunities Fund... 35 HDFC Medium Term Opportunities Fund... 36 HDFC Gilt Fund - SHORT Term Plan... 37 HDFC Gilt Fund - Long Term Plan... 38 HDFC Floating Rate Income Fund - Short Term Plan... 39 HDFC Floating Rate Income Fund - Long Term Plan... 40 HDFC Liquid Fund... 41 HDFC Cash Management Fund - Savings Plan... 42 HDFC Cash Management Fund - Treasury Advantage Plan... 43 HDFC Corporate Debt Opportunities Fund... 44 HDFC BANKING AND PSU DEBT Fund... 45 Performance details of schemes managed by respective fund managers... 46 Scheme Performance Summary - Regular Plans... 47-60 Scheme Performance Summary - Direct Plans... 61-78 GLOSSARY... 79 HOW TO READ FACTSHEET... 79 Dividend History... 80-82 Disclaimer... 82 2 March 2017 Intouch mutually
Market Review Equity Market update Debt Market update Indian equity markets were up ~3% in last month of FY17. Key highlights of the month were rate hike in US, strong foreign inflows and state election results. Global equity markets barring US and Japan also fared well. The table below gives the details of performance of key domestic and global indices. The yield on the 10-year benchmark (6.97% GOI 2026) ended the month of March at 6.69% down by 18 bps over the previous month end. The yield on 10-year AAA Corporate Bond ended the month at 7.65% as against 7.80% at the end of February 2017. Thus, corporate bond spreads during the month increased to 85 bps as against 81 bps in the previous month. % Change in Indices CY 2016 1M CY2017 YTD S&P BSE India Bankex 7.3 4.0 17.7 S&P BSE India Capital Goods (3.3) 7.3 20.4 S&P BSE India FMCG 3.3 5.3 14.0 S&P BSE India Healthcare (12.9) (0.5) 4.0 S&P BSE India Metal 36.7 (0.7) 16.8 S&P BSE India Oil & Gas 27.2 0.2 11.6 S&P BSE India IT (8.0) (0.1) 1.9 S&P BSE Sensex 1.9 3.1 11.2 NIFTY 50 3.0 3.3 12.1 NIFTY Free Float Midcap 100 7.1 4.3 19.8 % Change in Indices CY 2016 1M CY2017 YTD Dow Jones Industrial Average 13.4 (0.7) 4.6 NASDAQ 7.5 1.5 9.8 FTSE 14.4 0.8 2.5 DAX 6.9 4.0 7.2 CAC 4.9 5.4 5.4 Nikkei 0.4 (1.1) (1.1) Hang Seng 0.4 1.6 9.6 KOSPI 3.3 3.3 6.6 Shanghai (12.3) (0.6) 3.8 MSCI Emerging Market Index 8.6 2.3 11.1 Liquidity conditions continued to remain positive during the month of March 2017. As against ~Rs. 396,651 crs of average liquidity absorbed by RBI during the month of February 2017 (along with CMBs outstanding of to the tune of 1.5 lac crores) through various sources (Liquidity Adjustment Facility, export refinance, marginal standing facility and term repos/reverse repos), ~Rs.445,834 crs of liquidity was absorbed by RBI during the month of March 2017 (Cash Management Bills outstanding NIL). The overnight rate ended higher at 7.73% as against 6.05% as at end of February 2017. INR closed at 64.85 versus the USD in March as against 66.69 in February 2017. The net FII investment in equities & debt was an inflow of ~US$ 8.57 billion in March 2017. FII s sold close to US$ 0.9 billion in Indian debt and equity markets between Oct 16 to Mar 17 while were net buyers of ~USD 7.6 bn during FY17. The annual rate of retail inflation, CPI increased to 3.7% YoY in February 2017, up from 3.2% in January 2016. The rise was largely on account of food inflation, which increased to three months high of 2.5%. Core CPI eased to 4.8% in February 2017 from 5.1% in January 2017. Core inflation has been in the range of 4.5-5.0 % over the last one year now. During the month, Brent crude prices corrected and were down 6%. Performance of other commodities was mixed. FII s bought Indian equities worth $4.7bn during March and $8.7bn during FY17 despite record outflows of $4.7bn between Oct-16 and Jan-17. Inflows in domestic Equity mutual funds in FY17 till February have been ~Rs 55,000 crores. Equity market have lagged nominal GDP growth for several years now. With a sharp fall in interest rates, improving growth outlook and signs of improving corporate profitability the outlook for equity market is positive. Any volatility in Indian equities induced by global events at a time when the Indian economy is improving on nearly all parameters will be a good opportunity for the discerning investor. In our opinion therefore, there is merit in increasing allocation to equities (for those with a medium to long term view) and to stay invested. Outlook In the credit policy review of Apr 17 the RBI kept policy repo rate unchanged, however, it surprised the markets by narrowing the policy rate corridor from 100bp to 50bp. The narrowing of policy rate corridor is aimed at bringing the weighted average overnight call rate closer to policy repo rate. The monetary policy committee (MPC) maintained its neutral policy stance and guided that the future course of monetary policy will be largely data dependent on how macroeconomic conditions are evolving. Given the uncertainty driven by outcome of monsoon, roll out of GST and global factors such as US interest rates, RBI is likely to remain in a prolonged pause mode in our opinion. In such a scenario yields are likely to remain range bound. Source for various data points: RBI Website, Bloomberg, Reuters and HDFC AMC Research. Intouch mutually March 2017 3
HDFC Growth Fund (An open-ended growth scheme) investment objective To generate long term capital appreciation from a portfolio that is invested predominantly in equity and equity related instruments. Fund Manager Srinivas Rao Ravuri (since April 3, 06) Total Experience: Over 22 years Inception Date (Date of Allotment) September 11, 2000 per Unit (`) Regular Plan - Growth Option 159.331 Regular Plan - Dividend Option 29.562 Direct Plan - Growth Option 162.916 Direct Plan - Dividend Option 30.408 assets UNDER MANAGEMENT (`) IN CRORE As on March 31, 2017 1,064.89 Average for Month of March 31, 2017 1,057.89 quantitative data Portfolio Turnover Ratio (Last 1 year) 29.36% Risk Ratio Standard Deviation 4.673% Beta 1.089 Sharpe Ratio* 0.181 Computed for the 3-yr period ended March 31, 2017. Based on month-end. * Risk free rate: 7.37% (Source: FIMMDA MIBOR) Total Expense Ratio (Weighted Average for the month) Regular 2.36% Direct 1.71% Excluding Service Tax on Management Fees. BENCHMARK INDEX S&P BSE SENSEX Entry Load Not Applicable. Exit Load In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed / switchedout within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed / switchedout after 1 year from the date of allotment. For further details, please refer to para Exit Load on Pg 46. PlanS Regular Plan, Direct Plan Options Under Each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility. Portfolio - Top 10 Holdings Company Industry + % to EQUITY & EQUITY RELATED HDFC Bank Ltd. Banks 9.02 State Bank of India Banks 7.50 Infosys Ltd. Software 6.18 ICICI Bank Ltd. Banks 5.98 Reliance Industries Ltd. Petroleum Products 5.70 Larsen & Toubro Ltd. Construction Project 5.16 ITC Ltd. Consumer Non Durables 4.74 Maruti Suzuki India Ltd. Auto 2.82 Adani Ports and Special Economic Zone Ltd. Transportation 2.58 Tata Communications Ltd. Telecom - Services 2.51 Total of Top Ten Holdings 52.19 Total Equity & Equity Related 93.51 Net Current Assets 6.49 Grand Total 100.00 For complete portfolio, please visit www.hdfcfund.com Performance - Regular Plan - Growth Option Since Inception Banks 26.07 Software 8.06 Auto 7.29 Petroleum Products 5.70 Construction Project 5.16 Consumer Non Durables 4.74 Power 4.46 Pharmaceuticals 4.21 Construction 3.65 Non - Ferrous Metals 3.58 Transportation 2.58 Telecom - Services 2.51 Chemicals 2.06 Ferrous Metals 1.92 Oil 1.91 Telecom - Equipment & Accessories 1.57 Minerals/mining 1.55 Gas 1.51 Finance 1.41 Cement 1.32 Industrial Capital Goods 1.24 Consumer Durables 0.84 Retailing 0.17 0 5 10 15 20 25 30 15 year 10 year 5 year 3 year 1 year Total Amount Invested (` 000) 1,990.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value as on March 31, 2017 (` 000) 12,059.80 8,240.74 2,360.49 878.20 440.43 135.64 (Annualised) 19.26 18.32 12.98 15.24 13.56 25.15 (Annualised) # 13.50 13.15 9.17 10.19 7.02 16.72 Addl. Ret. (Annualised) ## 13.42 13.16 9.73 11.15 8.38 17.97 Past performance may or may not be sustained in the future. # S&P BSE Sensex ## NIFTY 50 Index. 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. Load is not taken into consideration for computation of performance. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. Performance - Regular Plan - Growth Option # Industry Allocation of Equity Holding (% of Net Assets) ## Scheme (`) (`)# Mar 31, 16 Last 1 Year 27.21 16.88 18.55 12,721 11,688 11,855 Mar 31, 14 Last 3 Years 17.54 9.77 11.01 16,246 13,232 13,684 Mar 30, 12 Last 5 Years 13.26 11.21 11.60 18,647 17,019 17,324 Sep 11, 00 Since Inception 18.19 11.76 11.75 159,331 63,068 62,991 Past performance may or may not be sustained in the future. greater than 1 year period are compounded annualized (CAGR). Load is not taken into consideration for computation of performance. # S&P BSE Sensex ## NIFTY 50 Index. For performance of other schemes managed by Srinivas Rao Ravuri, please refer page 46. 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. Minimum Application Amount Purchase : ` 5,000 and any amount thereafter. Purchase : ` 1,000 and any amount thereafter. Redemption Proceeds Normally despatched within 3-4 Business Days. For Tax Benefits / Consequences, Please refer to page 46 Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total Experience: Over 10 years). This product is suitable for investors who are seeking ~ Capital appreciation over long term. Investment predominantly in equity and 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. Face Value per Unit: ` 10 unless otherwise specified, + Industry Classification as recommended by AMFI, Data is as of March 31, 2017 unless otherwise specified. 4 March 2017 Intouch mutually
HDFC Equity Fund (An open-ended growth scheme) l investment objective To achieve capital appreciation. l Fund Manager Prashant Jain (since June 19, 03) Total Experience: Over 26 years l Inception Date (Date of Allotment) January 1, 1995 per Unit (`) Regular Plan - Growth Option 543.769 Regular Plan - Dividend Option 51.055 Direct Plan - Growth Option 561.617 Direct Plan - Dividend Option 53.201 assets UNDER MANAGEMENT (`) IN CRORE As on March 31, 2017 17,948.94 Average for Month of March 31, 2017 17,564.10 l quantitative data Portfolio Turnover Ratio (Last 1 year) 23.05% Risk Ratio Standard Deviation 5.354% Beta 1.185 Sharpe Ratio* 0.169 Computed for the 3-yr period ended March 31, 2017. Based on month-end. * Risk free rate: 7.37% (Source: FIMMDA MIBOR) Portfolio - Top 10 Holdings Company Industry + % to Equity & Equity Related State Bank of India Banks 10.01 ICICI Bank Ltd. Banks 8.70 Larsen & Toubro Ltd. Construction Project 7.62 Infosys Ltd. Software 6.71 HDFC Bank Ltd. Banks 4.87 Maruti Suzuki India Ltd. Auto 4.59 Reliance Industries Ltd. Petroleum Products 4.54 Balkrishna Industries Ltd. Auto Ancillaries 2.96 CESC Ltd. Power 2.83 Bank of Baroda Banks 2.82 Total of Top Ten Holdings 55.65 Total Equity & Equity Related Holdings 99.21 Cash margin / Earmarked cash for Futures & Options 0.39 Net Current Assets 0.40 Grand Total 100.00 For complete portfolio, please visit www.hdfcfund.com Industry Allocation of Equity Holding (% of Net Assets) Banks 29.76 Software 10.32 Construction Project 8.62 Auto 8.17 Power 7.10 Industrial Capital Goods 5.33 Petroleum Products 5.25 Pharmaceuticals 3.66 Auto Ancillaries 2.96 Finance 2.80 Ferrous Metals 2.74 Media And Entertainment 2.05 Cement 1.64 Pesticides 1.64 Transportation 1.59 Retailing 1.06 Gas 1.00 Oil 0.80 Consumer Durables 0.79 Industrial Products 0.59 Non - Ferrous Metals 0.57 Construction 0.54 Telecom - Services 0.23 0 5 10 15 20 25 30 l Total Expense Ratio (Weighted Average for the month) Regular 2.13% Direct 1.30% Excluding Service Tax on Management Fees. l BENCHMARK INDEX NIFTY 500 Index l Entry Load Not Applicable. l Exit Load 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. 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 46. l PlanS Regular Plan, Direct Plan l Options Under Each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility. l Minimum Application Amount Purchase : ` 5,000 and any amount thereafter. Purchase : ` 1,000 and any amount thereafter. Performance - Regular Plan - Growth Option Since Inception 15 year 10 year 5 year 3 year 1 year Total Amount Invested (` 000) 2,670.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value as on March 31, 2017 (` 000) 58,982.96 9,941.56 2,639.40 914.80 436.07 136.71 (Annualised) 23.11 20.44 15.07 16.91 12.87 26.93 (Annualised) # 13.53 14.25 11.19 14.29 11.81 22.85 Addl. Ret. (Annualised) ## 12.27 13.16 9.73 11.15 8.38 17.97 Past performance may or may not be sustained in the future. # NIFTY 500 Index ## NIFTY 50 Index. 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. Load is not taken into consideration for computation of performance. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. Performance - Regular Plan - Growth Option # ## Scheme (`) (`)# Mar 31, 16 Last 1 Year 30.49 23.91 18.55 13,049 12,391 11,855 Mar 31, 14 Last 3 Years 17.86 15.22 11.01 16,379 15,302 13,684 Mar 30, 12 Last 5 Years 15.73 13.61 11.60 20,780 18,938 17,324 Jan 01, 95 Since Inception 19.66 9.79 N.A. 543,769 79,951 N.A. Past performance may or may not be sustained in the future. greater than 1 year period are compounded annualized (CAGR). Load is not taken into consideration for computation of performance. # NIFTY 500 Index ## NIFTY 50 Index. N.A. Not Available. For performance of other schemes managed by Prashant Jain, please refer page 46. 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. 77. l Redemption Proceeds Normally despatched within 3-4 Business Days. For Tax Benefits / Consequences, Please refer to page 46 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 10 years). This product is suitable for investors who are seeking ~ Capital appreciation over long term. Investment predominantly in equity and equity related instruments of medium to large sized companies. 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. Face Value per Unit: ` 10 unless otherwise specified, + Industry Classification as recommended by AMFI, Data is as of March 31, 2017 unless otherwise specified. Intouch mutually March 2017 5
HDFC Top 200 Fund (An open-ended growth scheme) l investment objective To generate long term capital appreciation from a portfolio of equity and equity linked instruments. The investment portfolio for equity and equity linked instruments will be primarily drawn from the companies in the BSE 200 Index. Further, the Scheme may also invest in listed companies that would qualify to be in the top 200 by market capitalisation on the BSE even though they may not be listed on the BSE. This includes participation in large IPOs where in the market capitalisation of the company based on issue price would make the company a part of the top 200 companies listed on the BSE based on market capitalisation. l Fund Manager Prashant Jain (since June 19, 03) Total Experience: Over 26 years l Inception Date (Date of Allotment) October 11, 1996 per Unit (`) Regular Plan - Growth Option 401.862 Regular Plan - Dividend Option 50.005 Direct Plan - Growth Option 412.763 Direct Plan - Dividend Option 51.712 assets UNDER MANAGEMENT (`) IN CRORE As on March 31, 2017 13,945.03 Average for Month of March 31, 2017 13,710.44 l quantitative data Portfolio Turnover Ratio (Last 1 year) 30.82% Risk Ratio Standard Deviation 5.074% Beta 1.157 Sharpe Ratio* 0.157 Computed for the 3-yr period ended March 31, 2017. Based on month-end. * Risk free rate: 7.37% (Source: FIMMDA MIBOR) l Total Expense Ratio (Weighted Average for the month) Regular 2.12% Direct 1.49% Excluding Service Tax on Management Fees. l BENCHMARK INDEX S&P BSE 200 l Entry Load Not Applicable. l Exit Load In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed / switchedout within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed / switchedout after 1 year from the date of allotment. For further details, please refer to para Exit Load on Pg 46. l PlanS Regular Plan, Direct Plan l Options Under Each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility. l Minimum Application Amount Purchase : ` 5,000 and any amount thereafter. Purchase : ` 1,000 and any amount thereafter. l Redemption Proceeds Normally despatched within 3-4 Business Days. For Tax Benefits / Consequences, Please refer to page 46 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 10 years). Portfolio - Top 10 Holdings Company Industry + % to Equity & Equity Related HDFC Bank Ltd. Banks 7.36 State Bank of India Banks 6.83 Larsen & Toubro Ltd. Construction Project 6.14 ICICI Bank Ltd. Banks 6.09 Infosys Ltd. Software 4.96 Reliance Industries Ltd. Petroleum Products 4.74 ITC Ltd. Consumer Non Durables 4.35 Tata Consultancy Services Ltd. Software 2.83 Maruti Suzuki India Ltd. Auto 2.79 Housing Development Finance Corporation Ltd. Finance 2.78 Total of Top Ten Holdings 48.87 Total Equity & Equity Related Holdings 98.42 Cash margin/ Earmarked cash for Futures & Options 0.67 Net Current Assets 0.91 Grand Total 100.00 For complete portfolio, please visit www.hdfcfund.com Industry Allocation of Equity Holding (% of Net Assets) Banks 31.13 Software 10.91 Construction Project 6.14 Power 6.00 Petroleum Products 6.00 Auto 5.96 Finance 5.37 Consumer Non Durables 4.35 Pharmaceuticals 4.02 Industrial Capital Goods 3.49 Ferrous Metals 2.87 Oil 2.42 Cement 1.60 Transportation 1.41 Telecom - Services 1.29 Media And Entertainment 1.25 Pesticides 1.22 Gas 1.17 Retailing 0.84 Non - Ferrous Metals 0.53 Chemicals 0.45 0 5 10 15 20 25 30 35 Performance - Regular Plan - Growth Option Since Inception 15 year 10 year 5 year 3 year 1 year Total Amount Invested (` 000) 2,460.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value as on March 31, 2017 (` 000) $$ 31,156.31 9,617.19 2,508.63 892.88 437.53 136.98 (Annualised) $$ 21.04 20.07 14.12 15.92 13.10 27.37 (Annualised) # 14.03 14.12 10.86 13.45 10.96 21.24 Addl. Ret. (Annualised) ## 12.59 13.15 9.17 10.19 7.02 16.72 Past performance may or may not be sustained in the future. # S&P BSE 200 ## S&P BSE SENSEX. 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. Load is not taken into consideration for computation of performance. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. Performance - Regular Plan - Growth Option $$ Co-sponsor # ## Scheme (`) $$ (`)# Mar 31, 16 Last 1 Year 30.01 22.47 16.88 13,001 12,247 11,688 Mar 31, 14 Last 3 Years 16.56 14.17 9.77 15,845 14,887 13,232 Mar 30, 12 Last 5 Years 14.80 13.08 11.21 19,955 18,499 17,019 Oct 11, 96 Since Inception 20.93 13.23 11.54 489,993 127,311 93,720 Past performance may or may not be sustained in the future. greater than 1 year period are compounded annualized (CAGR). Load is not taken into consideration for computation of performance. # S&P BSE 200 ## S&P BSE SENSEX. $$ 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 (ex-dividend ). For performance of other schemes managed by Prashant Jain, please refer page 46. 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 ~ Riskometer Capital appreciation over long term. Investment in equity and equity linked instruments including equity derivatives primarily drawn from the companies in the S&P BSE 200 Index. 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. Face Value per Unit: ` 10 unless otherwise specified, + Industry Classification as recommended by AMFI, Data is as of March 31, 2017 unless otherwise specified. 6 March 2017 Intouch mutually
HDFC Capital Builder Fund (An open-ended growth scheme) This is a simple and performing scheme which is eligible for distribution by new cadre of distributors. l investment objective To achieve capital appreciation in the long term. l Fund Manager Miten Lathia (since Mar 20, 17) Total Experience: Over 20 years (The scheme was co-managed by Chirag Setalvad & Miten Lathia till March 19, 17) l Inception Date (Date of Allotment) February 1, 1994 per Unit (`) Regular Plan - Growth Option 248.330 Regular Plan - Dividend Option 27.081 Direct Plan - Growth Option 255.904 Direct Plan - Dividend Option 28.186 assets UNDER MANAGEMENT (`) IN CRORE As on March 31, 2017 1,512.12 Average for Month of March 31, 2017 1,454.72 l quantitative data Portfolio Turnover Ratio (Last 1 year) 31.94% Risk Ratio Standard Deviation 4.753% Beta 1.083 Sharpe Ratio* 0.234 Computed for the 3-yr period ended March 31, 2017. Based on month-end. * Risk free rate: 7.37% (Source: FIMMDA MIBOR) l Total Expense Ratio (Weighted Average for the month) Regular 2.46% Direct 1.42% Excluding Service Tax on Management Fees. l BENCHMARK INDEX NIFTY 500 Index l Entry Load Not Applicable. l Exit Load In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed / switchedout within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed / switchedout after 1 year from the date of allotment. For further details, please refer to para Exit Load on Pg 46. l PlanS Regular Plan, Direct Plan l Options Under Each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility. Portfolio - Top 10 Holdings Company Industry + % to Equity & Equity Related HDFC Bank Ltd. Banks 7.50 ICICI Bank Ltd. Banks 6.41 Reliance Industries Ltd. Petroleum Products 4.93 State Bank of India Banks 4.07 Tata Motors Ltd. Auto 3.39 Infosys Ltd. Software 3.38 Adani Ports and Special Economic Zone Ltd. Transportation 2.79 VIP Industries Ltd. Consumer Durables 2.75 Cipla Ltd. Pharmaceuticals 2.75 Axis Bank Ltd. Banks 2.58 Total of Top Ten Holdings 40.55 Total Equity & Equity Related Holdings 93.15 Cash margin/ Earmarked cash for Futures & Options 0.24 Net Current Assets 6.61 Grand Total 100.00 For complete portfolio, please visit www.hdfcfund.com Banks 26.87 Software 8.06 Pharmaceuticals 6.56 Petroleum Products 6.23 Construction Project 5.21 Consumer Durables 5.19 Construction 4.89 Media And Entertainment 3.45 Auto 3.39 Consumer Non Durables 3.33 Transportation 2.79 Telecom - Services 2.19 Auto Ancillaries 1.86 Chemicals 1.83 Power 1.74 Hotels, Resorts & Other Recreational Activities 1.67 Gas 1.67 Telecom - Equipment & Accessories 1.30 Non - Ferrous Metals 1.26 Retailing 1.16 Industrial Products 0.92 Oil 0.81 Industrial Capital Goods 0.77 0 5 10 15 20 25 30 Performance - Regular Plan - Growth Option Since Inception 15 year 10 year 5 year 3 year 1 year Total Amount Invested (` 000) 2,780.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value as on March 31, 2017 (` 000) 36,835.41 9,807.25 2,845.12 984.80 459.32 138.60 (Annualised) 18.72 20.29 16.46 19.93 16.50 30.10 (Annualised) # 13.06 14.25 11.19 14.29 11.81 22.85 Addl. Ret. (Annualised) ## 11.91 13.16 9.73 11.15 8.38 17.97 Past performance may or may not be sustained in the future. # NIFTY 500 Index ## NIFTY 50 Index. 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). Load is not taken into consideration for computation of performance. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. Performance - Regular Plan - Growth Option # Industry Allocation of Equity Holding (% of Net Assets) ## Scheme (`) (`)# Mar 31, 16 Last 1 Year 27.76 23.91 18.55 12,776 12,391 11,855 Mar 31, 14 Last 3 Years 21.24 15.22 11.01 17,829 15,302 13,684 Mar 30, 12 Last 5 Years 18.64 13.61 11.60 23,525 18,938 17,324 Feb 01, 94 Since Inception 14.87 9.10 9.06 248,330 75,226 74,588 Past performance may or may not be sustained in the future. greater than 1 year period are compounded annualized (CAGR). Load is not taken into consideration for computation of performance. #NIFTY 500 Index ##NIFTY 50 Index. For performance of other schemes managed by Miten Lathia, please refer page 46. 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. 76. l Minimum Application Amount Purchase : ` 5,000 and any amount thereafter. Purchase : ` 1,000 and any amount thereafter. l Redemption Proceeds Normally despatched within 3-4 Business Days. For Tax Benefits / Consequences, Please refer to page 46 Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total Experience: Over 10 years). This product is suitable for investors who are seeking ~ Capital appreciation over long term. Investment predominantly in equity and equity related instruments of strong companies. 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. Face Value per Unit: ` 10 unless otherwise specified, + Industry Classification as recommended by AMFI, Data is as of March 31, 2017 unless otherwise specified. Intouch mutually March 2017 7
HDFC Core & Satellite Fund (An open-ended growth scheme) l investment objective To generate capital appreciation through equity investment in companies whose shares are quoting at prices below their true value. l Fund Manager Vinay Kulkarni (since November 21, 06) Total Experience: Over 26 years l Inception Date (Date of Allotment) September 17, 2004 per Unit (`) Regular Plan - Growth Option 70.780 Regular Plan - Dividend Option 18.940 Direct Plan - Growth Option 73.147 Direct Plan - Dividend Option 19.997 assets UNDER MANAGEMENT (`) IN CRORE As on March 31, 2017 593.52 Average for Month of March 31, 2017 575.95 l quantitative data Portfolio Turnover Ratio (Last 1 year) 24.61% Risk Ratio Standard Deviation 5.960% Beta 1.259 Sharpe Ratio* 0.176 Computed for the 3-yr period ended March 31, 2017. Based on month-end. * Risk free rate: 7.37% (Source: FIMMDA MIBOR) l Total Expense Ratio (Weighted Average for the month) Regular 2.53% Direct 1.33% Excluding Service Tax on Management Fees. l BENCHMARK INDEX S&P BSE 200 l Entry Load Not Applicable. l Exit Load In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed / switchedout within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed / switchedout after 1 year from the date of allotment. For further details, please refer to para Exit Load on Pg 46. l PlanS Regular Plan, Direct Plan l Options Under Each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility. l Minimum Application Amount Purchase : ` 5,000 and any amount thereafter. Purchase : ` 1,000 and any amount thereafter. l Redemption Proceeds Normally despatched within 3-4 Business Days. For Tax Benefits / Consequences, Please refer to page 46 Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total Experience: Over 10 years). Portfolio - Top 10 Holdings Company Industry + % to Equity & Equity Related Larsen & Toubro Ltd. Construction Project 6.95 Bharat Petroleum Corporation Ltd. Petroleum Products 6.21 Cipla Ltd. Pharmaceuticals 6.11 Bharat Electronics Ltd. Industrial Capital Goods 5.77 ICICI Bank Ltd. Banks 5.29 Tata Motors Ltd. DVR Auto 5.27 NHPC Ltd. Power 5.07 State Bank of India Banks 4.95 Maruti Suzuki India Ltd. Auto 4.56 CESC Ltd. Power 4.25 Total of Top Ten Holdings 54.43 Total Equity & Equity Related Holdings 91.03 Credit Exposure Au Financiers (India) Ltd. FITCH - A+ 0.69 Total Credit Exposure 0.69 Net Current Assets 8.28 Grand Total 100.00 For complete portfolio, please visit www.hdfcfund.com Performance - Regular Plan - Growth Option Since Inception 10 year 5 year 3 year 1 year Total Amount Invested (` 000) 1,510.00 1,200.00 600.00 360.00 120.00 Mkt Value as on March 31, 2017 (` 000) 3,732.96 2,388.33 912.01 438.26 135.23 (Annualised) 13.49 13.20 16.78 13.22 24.47 (Annualised) # 11.49 10.86 13.45 10.96 21.24 Addl. Ret. (Annualised) ## 10.38 9.17 10.19 7.02 16.72 Past performance may or may not be sustained in the future. # S&P BSE 200 ## S&P BSE Sensex. 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. Load is not taken into consideration for computation of performance. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. Performance - Regular Plan - Growth Option # This product is suitable for investors who are seeking ~ Capital appreciation over long term. Investment primarily in equity and equity related instruments of companies whose shares are quoting at prices below their true value. Industry Allocation of Equity Holding (% of Net Assets) Industrial Capital Goods 16.76 Construction Project 11.50 Power 11.45 Banks 10.24 Auto 9.83 Petroleum Products 6.21 Pharmaceuticals 6.11 Software 4.01 Commercial Services 3.60 Auto Ancillaries 3.00 Healthcare Services 2.42 Finance 2.02 Construction 1.44 Transportation 1.42 Media And Entertainment 1.02 0 2 4 6 8 10 12 14 16 18 ## Scheme (`) (`)# Mar 31, 16 Last 1 Year 27.93 22.47 16.88 12,793 12,247 11,688 Mar 31, 14 Last 3 Years 19.44 14.17 9.77 17,048 14,887 13,232 Mar 30, 12 Last 5 Years 13.90 13.08 11.21 19,182 18,499 17,019 Sep 17, 04 Since Inception 16.89 14.57 14.27 70,780 55,077 53,263 Past performance may or may not be sustained in the future. greater than 1 year period are compounded annualized (CAGR). Load is not taken into consideration for computation of performance. # S&P BSE 200 ## S&P BSE Sensex. For performance of other schemes managed by Vinay Kulkarni, please refer page 46. 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. 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. Face Value per Unit: ` 10 unless otherwise specified, + Industry Classification as recommended by AMFI, Data is as of March 31, 2017 unless otherwise specified. 8 March 2017 Intouch mutually
HDFC Premier Multi-cap Fund (An open-ended growth scheme) l investment objective To generate capital appreciation in the long term through equity investments by investing in a diversified portfolio of Mid Cap and Large Cap blue chip companies. l Fund Manager Vinay Kulkarni (since November 21, 06) Total Experience: Over 26 years l Inception Date (Date of Allotment) April 6, 2005 per Unit (`) Regular Plan - Growth Option 49.158 Regular Plan - Dividend Option 13.570 Direct Plan - Growth Option 50.383 Direct Plan - Dividend Option 14.010 assets UNDER MANAGEMENT (`) IN CRORE As on March 31, 2017 302.19 Average for Month of March 31, 2017 292.92 l quantitative data Portfolio Turnover Ratio (Last 1 year) 6.23% Risk Ratio Standard Deviation 5.844% Beta 1.259 Sharpe Ratio* 0.151 Computed for the 3-yr period ended March 31, 2017. Based on month-end. * Risk free rate: 7.37% (Source: FIMMDA MIBOR) l Total Expense Ratio (Weighted Average for the month) Regular 2.64% Direct 2.04% Excluding Service Tax on Management Fees. l BENCHMARK INDEX NIFTY 500 Index l Entry Load Not Applicable. l Exit Load In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed / switchedout within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed / switchedout after 1 year from the date of allotment. For further details, please refer to para Exit Load on Pg 46. l PlanS Regular Plan, Direct Plan l Options Under Each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility. l Minimum Application Amount Purchase : ` 5,000 and any amount thereafter. Purchase : ` 1,000 and any amount thereafter. Portfolio - Top 10 Holdings Company Industry + % to Equity & Equity Related State Bank of India Banks 9.51 ICICI Bank Ltd. Banks 6.92 Tata Motors Ltd. DVR Auto 5.55 Infosys Ltd. Software 5.07 Bank of Baroda Banks 5.06 KEC International Ltd. Construction Project 4.62 Punjab National Bank Banks 4.46 Bharat Petroleum Corporation Ltd. Petroleum Products 4.32 Tata Steel Ltd. Ferrous Metals 4.17 Maruti Suzuki India Ltd. Auto 3.98 Total of Top Ten Holdings 53.66 Total Equity & Equity Related Holdings 93.72 Net Current Assets 6.28 Grand Total 100.00 For complete portfolio, please visit www.hdfcfund.com Hotels, Resorts & Other Recreational Activities 1.81 Telecom - Equipment & Accessories 0.88 Performance - Regular Plan - Growth Option Since Inception 10 year 5 year 3 year 1 year Total Amount Invested (` 000) 1,440.00 1,200.00 600.00 360.00 120.00 Mkt Value as on March 31, 2017 (` 000) 3,100.88 2,261.69 876.72 427.98 136.47 (Annualised) 12.10 12.18 15.17 11.58 26.52 (Annualised) # 11.20 11.19 14.29 11.81 22.85 Addl. Ret. (Annualised) ## 10.27 9.73 11.15 8.38 17.97 Past performance may or may not be sustained in the future. # NIFTY 500 Index ## NIFTY 50 Index. 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. Load is not taken into consideration for computation of performance. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. Performance - Regular Plan - Growth Option # Industry Allocation of Equity Holding (% of Net Assets) ## Banks Construction Project Industrial Capital Goods Auto Construction Software Petroleum Products Ferrous Metals Consumer Durables Pharmaceuticals Power 5.42 5.07 4.32 4.17 3.86 3.14 2.48 12.24 9.97 9.53 30.83 0 5 10 15 20 25 30 35 Scheme (`) (`)# Mar 31, 16 Last 1 Year 29.50 23.91 18.55 12,950 12,391 11,855 Mar 31, 14 Last 3 Years 17.17 15.22 11.01 16,093 15,302 13,684 Mar 30, 12 Last 5 Years 12.16 13.61 11.60 17,757 18,938 17,324 Apr 06, 05 Since Inception 14.20 13.20 13.22 49,158 44,245 44,333 Past performance may or may not be sustained in the future. greater than 1 year period are compounded annualized (CAGR). Load is not taken into consideration for computation of performance. # NIFTY 500 Index ## NIFTY 50 Index. For performance of other schemes managed by Vinay Kulkarni, please refer page 46. 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 Redemption Proceeds Normally despatched within 3-4 Business Days. l Segment-wise break-up of equity holding (% of net assets) Large Cap 35.98% Mid Cap 57.73% This product is suitable for investors who are seeking ~ Capital appreciation over long term. Investment predominantly in equity and equity related instruments of Mid Cap and Large Cap blue chip companies. Riskometer For Tax Benefits / Consequences, Please refer to page 46 Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total Experience: Over 10 years). 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. Face Value per Unit: ` 10 unless otherwise specified, + Industry Classification as recommended by AMFI, Data is as of March 31, 2017 unless otherwise specified. Intouch mutually March 2017 9
HDFC Large Cap Fund (An open-ended equity scheme) l investment objective To provide long-term capital appreciation by investing predominantly in large cap companies. l Fund Manager Vinay Kulkarni (since June 28, 14) Total Experience: Over 26 years l Inception Date (Date of Allotment) February 18, 1994 per Unit (`) Regular Plan - Growth Option 97.564 Regular Plan - Dividend Option 20.480 Direct Plan - Growth Option 98.360 Direct Plan - Dividend Option 23.090 assets UNDER MANAGEMENT (`) IN CRORE As on March 31, 2017 1,235.19 Average for Month of March 31, 2017 1,240.04 l quantitative data Portfolio Turnover Ratio (Last 1 year) 14.84% Risk Ratio Standard Deviation 4.160% Beta 0.978 Sharpe Ratio* 0.063 Computed for the 3-yr period ended March 31, 2017. Based on month-end. * Risk free rate: 7.37% (Source: FIMMDA MIBOR) l Total Expense Ratio (Weighted Average for the month) Regular 2.20% Direct 2.10% Excluding Service Tax on Management Fees. l BENCHMARK INDEX NIFTY 50 Index l Entry Load Not Applicable. l Exit Load In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed / switchedout within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed / switchedout after 1 year from the date of allotment. For further details, please refer to para Exit Load on Pg 46. l PlanS Regular Plan, Direct Plan l Options Under Each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility. l Minimum Application Amount Purchase : ` 5,000 and any amount thereafter. Purchase : ` 1,000 and any amount thereafter. Portfolio - Top 10 Holdings Company Industry + % to Equity & Equity Related Reliance Industries Ltd. Petroleum Products 9.73 HDFC Bank Ltd. Banks 9.62 State Bank of India Banks 9.49 ICICI Bank Ltd. Banks 8.72 Larsen & Toubro Ltd. Construction Project 8.27 ITC Ltd. Consumer Non Durables 7.21 Bharat Petroleum Corporation Ltd. Petroleum Products 6.77 Axis Bank Ltd. Banks 6.56 Tata Motors Ltd. DVR Auto 5.31 Infosys Ltd. Software 5.26 Total of Top Ten Holdings 76.94 Investment in ADR/GDR/Foreign Securities Cognizant Technology Solutions Corp Software 2.83 Total Equity & Equity Related Holdings 99.78 Net Current Assets 0.22 Grand Total 100.00 For complete portfolio, please visit www.hdfcfund.com Investment in Foreign Securities (` in Crore) 34.96 Transportation 1.23 Gas 0.85 Performance - Regular Plan - Growth Option Since Inception 5 year 3 year 1 year Total Amount Invested (` 000) 1,070.00 600.00 360.00 120.00 Mkt Value as on March 31, 2017 (` 000) $$ 1,701.20 782.86 408.07 131.98 (Annualised) $$ 10.11 10.59 8.32 19.12 (Annualised) # 10.53 11.15 8.38 17.97 Addl. Ret. (Annualised) ## 9.95 10.19 7.02 16.72 Past performance may or may not be sustained in the future. # NIFTY 50 Index ## S&P BSE Sensex. Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. CAGR returns are computed after accounting for the cash flow by using XIRR method (investment internal rate of return) for Regular Plan - Growth Option. Load is not taken into consideration for computation of performance. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. Performance - Regular Plan - Growth Option $$ # Industry Allocation of Equity Holding (% of Net Assets) Banks Petroleum Products Auto Construction Project Software Consumer Non Durables ## Cement Power Oil 3.23 2.60 1.63 Scheme (`) $$ 8.27 8.09 7.21 12.71 17.10 36.86 0 5 10 15 20 25 30 35 40 (`)# Mar 31, 16 Last 1 Year 19.03 18.55 16.88 11,903 11,855 11,688 Mar 31, 14 Last 3 Years 9.93 11.01 9.77 13,290 13,684 13,232 Mar 30, 12 Last 5 Years 11.62 11.60 11.21 17,334 17,324 17,019 Feb 18, 94 Since Inception 10.93 9.07 9.14 110,052 74,453 75,658 Past performance may or may not be sustained in the future. greater than 1 year period are compounded annualized (CAGR). Load is not taken into consideration for computation of performance. # NIFTY 50 Index ## S&P BSE Sensex. $$ 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. For performance of other schemes managed by Vinay Kulkarni, please refer page 46. 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 Redemption Proceeds Normally despatched within 3-4 Business Days. For Tax Benefits / Consequences, Please refer to page 46 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 10 years). This product is suitable for investors who are seeking ~ Capital appreciation over long term. Investment in equity and equity related instruments of Large Cap companies. 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. Face Value per Unit: ` 10 unless otherwise specified, + Industry Classification as recommended by AMFI, Data is as of March 31, 2017 unless otherwise specified. 10 March 2017 Intouch mutually
HDFC Mid-Cap Opportunities Fund (An open-ended equity scheme) l investment objective To generate long-term capital appreciation from a portfolio that is substantially constituted of equity and equity related securities of Small and Mid-Cap companies. l Fund Manager Chirag Setalvad (since June 25, 07) Total Experience: Over 17 years l Inception Date (Date of Allotment) June 25, 2007 per Unit (`) Regular Plan - Growth Option 49.797 Regular Plan - Dividend Option 30.531 Direct Plan - Growth Option 51.463 Direct Plan - Dividend Option 35.685 assets UNDER MANAGEMENT (`) IN CRORE As on March 31, 2017 15,734.25 Average for Month of March 31, 2017 15,057.40 l quantitative data Portfolio Turnover Ratio (Last 1 year) 25.69% Risk Ratio Standard Deviation 4.730% Beta 0.907 Sharpe Ratio* 0.365 Computed for the 3-yr period ended March 31, 2017. Based on month-end. * Risk free rate: 7.37% (Source: FIMMDA MIBOR) Portfolio - Top 10 Holdings Company Industry + % to Equity & Equity Related Tube Investments of India Ltd. Auto Ancillaries 2.90 Voltas Ltd. Construction Project 2.53 Yes Bank Ltd. Banks 2.39 Indusind Bank Ltd. Banks 2.36 Sundram Fasteners Ltd. Auto Ancillaries 2.31 Aurobindo Pharma Ltd. Pharmaceuticals 2.28 Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.23 UPL Ltd. Pesticides 2.16 Balkrishna Industries Ltd. Auto Ancillaries 2.13 Adani Ports and Special Economic Zone Ltd. Transportation 2.12 Total of Top Ten Holdings 23.41 Total Equity & Equity Related Holdings 94.11 Net Current Assets 5.89 Grand Total 100.00 For complete portfolio, please visit www.hdfcfund.com Industry Allocation of Equity Holding (% of Net Assets) Banks 16.58 Auto Ancillaries 10.41 Industrial Products 10.35 Pharmaceuticals 7.62 Consumer Durables 7.02 Finance 5.36 Software 4.90 Media And Entertainment 4.12 Construction Project 3.67 Industrial Capital Goods 3.30 Pesticides 3.01 Chemicals 2.88 Hotels, Resorts & Other Recreational Activities 2.29 Transportation 2.12 Consumer Non Durables 1.90 Retailing 1.78 Gas 1.35 Construction 1.28 Petroleum Products 1.27 Trading 1.16 Textiles - Cotton 1.04 Oil 0.70 0 2 4 6 8 10 12 14 16 18 l Total Expense Ratio (Weighted Average for the month) Regular 2.22% Direct 1.24% Excluding Service Tax on Management Fees. l BENCHMARK INDEX NIFTY Free Float Midcap 100 Index l Entry Load Not Applicable. l Exit Load In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed / switchedout within 1 year from the date of allotment. No Exit Load is payable if Units are redeemed / switchedout after 1 year from the date of allotment. For further details, please refer to para Exit Load on Pg 46. l PlanS Regular Plan, Direct Plan l Options Under Each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility. l Minimum Application Amount Purchase : ` 5,000 and any amount thereafter. Purchase : ` 1,000 and any amount thereafter. Performance - Regular Plan - Growth Option Since Inception 5 year 3 year 1 year Total Amount Invested (` 000) 1,180.00 600.00 360.00 120.00 Mkt Value as on March 31, 2017 (` 000) 3,851.32 1,178.59 499.07 140.81 (Annualised) 22.81 27.40 22.43 33.82 (Annualised) # 15.56 21.81 20.37 34.12 Addl. Ret. (Annualised) ## 9.76 11.15 8.38 17.97 Past performance may or may not be sustained in the future. # NIFTY Free Float Midcap 100 Index ## NIFTY 50 Index. 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. Load is not taken into consideration for computation of performance. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. Performance - Regular Plan - Growth Option # ## Scheme (`) (`)# Mar 31, 16 Last 1 Year 37.37 34.85 18.55 13,737 13,485 11,855 Mar 31, 14 Last 3 Years 30.30 25.90 11.01 22,137 19,968 13,684 Mar 30, 12 Last 5 Years 24.88 17.38 11.60 30,403 22,301 17,324 Jun 25, 07 Since Inception 17.85 11.71 8.17 49,797 29,512 21,538 Past performance may or may not be sustained in the future. greater than 1 year period are compounded annualized (CAGR). Load is not taken into consideration for computation of performance. # NIFTY Free Float Midcap 100 Index ## NIFTY 50 Index. For performance of other schemes managed by Chirag Setalvad, please refer page 46. 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 Redemption Proceeds Normally despatched within 3-4 Business Days. l Segment-wise break-up of equity holding (% of net assets) Large Cap 0.00% Mid Cap 94.13% This product is suitable for investors who are seeking ~ Capital appreciation over long term. Investment predominantly in equity and equity related instruments of Small and Mid Cap companies. Riskometer For Tax Benefits / Consequences, Please refer to page 46 Dedicated Fund Manager for Overseas Investments: Mr Rakesh Vyas (Total Experience: Over 10 years). 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. Face Value per Unit: ` 10 unless otherwise specified, + Industry Classification as recommended by AMFI, Data is as of March 31, 2017 unless otherwise specified. Intouch mutually March 2017 11