Abstract:
HDFC Mutual Fund is governed by HDFC Asset Management Company Limited (AMC). The HDFC mutual fund was approved by SEBI in June 2000. Equity Funds, Balanced Funds, and Debt Funds are the mutual fund schemes offered by HDFC Mutual Fund.
An Overview of HDFC Mutual Fund-
HDFC Mutual Fund has witnessed significant growth in the past few years. It is regulated by HDFC Asset Management Company Limited (AMC) which works as an Asset Management Company (AMC) for HDFC Mutual Fund. HDFC Asset Management Company Limited (AMC) is a Joint Venture concern between the large-scale housing finance company HDFC and British investment firm Standard Life Investments Limited.
The HDFC Asset Management Company Limited conducts the activities carried out by the HDFC Mutual Fund and manages the assets of various mutual fund schemes. The August 2006 report states that the fund has assets of Rs. 25,892 crores under Asset Management Company (AMC).
HDFC Asset Management Company Limited (AMC) entered into an agreement with Zurich Insurance Company (ZIC) with the aim to develop the asset management business in India in the year 2003. Following to this, all the mutual fund schemes of Zurich Mutual Fund in India got transferred to HDFC Mutual Fund and gained the name of HDFC schemes.
Details of HDFC Mutual Fund-
HDFC Asset Management Company Ltd (AMC) was set up on December 10, 1999 under the Companies Act, 1956. It got the approval to function as an Asset Management Company for the HDFC Mutual Fund by SEBI on June 30, 2000. AMC was appointed in order manage the HDFC Mutual Fund. The registered office of HDFC Asset Management Company Limited (AMC) is located at Ramon House, 3rd Floor, H.T. Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai - 400 020.
Schemes of HDFC Mutual Fund-
- HDFC Equity Fund
- HDFC Prudence Fund
- HDFC Capital Builder Fund
- HDFC Tax Saver
- HDFC Top 200 Fund
- HDFC High Interest Fund
- HDFC Cash Management Fund
- HDFC Sovereign Gilt Fund
Equity Funds, Balanced Funds, and Debt Funds are the broad categories of mutual fund schemes offered by HDFC Mutual Fund.
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