HDFC Equity Savings Fund

All Cap

Hybrid

India Debt Medium Duration

Long Term

Others

Aggressive growth Investor Profile

Investor Profile

4–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Hdfc Equity Savings Fund Growth mixes stocks and bonds for balanced growth and stability.

What This Strategy Does

HDFC Equity Savings Fund Growth is an equity savings fund which captures India's ₹50 trillion consumption and financialization opportunity through a balanced allocation across financials, industrials, and consumer sectors, deploying capital to achieve benchmark-aligned compounding.

CW Expert Research Notes

Consistent Downside Protection

The fund has demonstrated resilience across market cycles, outperforming its benchmark in 10 of the past 12 years, reflecting a process focused on downside risk management and capital preservation.

Balanced Equity Exposure

The fund's equity allocation is balanced across market capitalizations, with a tilt towards large-caps like HDFC Bank and Reliance Industries, complemented by select mid-cap opportunities like Divi's Laboratories.

Diversified Risk Profile

The fund's risk profile is diversified across sectors, with exposure to potential catalysts like rising consumer spending, infrastructure investment, and financial services growth, while maintaining a defensive allocation to government bonds.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Fund Performance

0.0% AnnuallyAlpha

+7.9% vs +9.9% benchmarkSince Inception

+7.4% vs +6.3% benchmark3Y Annualized

+7.5% vs +6.5% benchmark5Y Annualized

HDFC Equity Savings Fund

Benchmark Index

Benchmark Performance Comparison

Hdfc Equity Savings Fund

NIFTY 50 + FD Returns

Risk Profile

Standard Deviation5.7%

Maximum Drawdown-4.5% | Oct 2024

Sharpe Ratio-0.52

Detailed Risks

Market Risk

Potential recession in India could dampen consumer demand, impacting fund's equity exposure.

Liquidity Risk

Significant mid-cap allocation could face liquidity stress during market sell-offs.

Concentration Risk

Concentrated sector exposures like financials may amplify downside from sector shocks.

Specific Strategy Risk

Regulatory changes to equity savings schemes could impact product structure.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Combines equity upside with debt stability to deliver risk-adjusted returns. This hybrid approach dynamically allocates between stocks and bonds, capturing market rallies while mitigating drawdowns through fixed income exposure. The impact is smoother compounding with lower volatility compared to pure equity investing.

Broader Market View

Market Outlook

With equity markets appearing to normalize after the recent correction, the present environment offers an attractive entry point as consumption and earnings recover. Macro tailwinds such as reviving capex and credit growth align with the strategy's tilt towards consumer, financial services, and technology sectors, though competitive pressures and cyclicality pose risks.

Why This Strategy is Attractive Now

The strategy appears well-positioned, with exposure to market leaders across consumer cyclicals/defensives, financials, and technology. Its balanced ~70 holding portfolio combines growth opportunities and defensive qualities. A moderate beta and diversification could provide risk-adjusted participation as the cycle unfolds, differentiating it from benchmarks or static allocations.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth approach can provide exposure to companies with resilient business models and pricing power.

High-Level Investment Process

Sourcing: The strategy appears to focus on companies with strong franchises, sustainable growth drivers, and attractive profitability profiles. Selection: The process suggests a preference for businesses with defendable market positions, robust cash generation, and reasonable valuations relative to growth prospects. Construction: The portfolio is diversified across sectors and market capitalizations, consistent with a focus on risk-adjusted returns.

Portfolio Holdings Overview

SectoralAllocation

Energy & Infra13.44%

Services12.97%

Capital Goods15.18%

Technology5.21%

Financial Services29.92%

Utilities6.36%

Consumers16.92%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

Cash Offset For DerivativesUtilities28.18%

Treps - Tri-Party RepoUtilities8.05%

HDFC Bank LtdFinancial Services7.07%

Reliance Industries LtdEnergy & Infra5.88%

ICICI Bank LtdFinancial Services3.95%

Sun Pharmaceuticals Industries LtdServices3.74%

Titan Co LtdConsumers3.40%

Larsen & Toubro LtdCapital Goods3.27%

State Bank of IndiaFinancial Services2.51%

7.18% Govt Stock 2033Utilities2.36%

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Anil Bamboli

Mr. Anil Bamboli has experience of 32 years. Manages 130 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹2,32,379 Cr Holds a MMS degree.

93 years

Combined Team Experience

₹ 14,30,433 Cr

Assets Under Management

Arun Agarwal

Co-Portfolio Manager

Mr. Arun Agarwal has experience of 28 years. Manages 119 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹2,56,735 Cr Holds a B.Com degree.

Srinivasan Ramamurthy

Co-Portfolio Manager

Mr. Srinivasan Ramamurthy has experience of 18 years. Manages 67 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹2,40,998 Cr Holds a M.B.A. degree.

Dhruv Muchhal

Co-Portfolio Manager

Mr. Dhruv Muchhal has experience of 13 years. Manages 345 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹4,43,585 Cr Holds a B.Com degree.

Nandita Menezes

Co-Portfolio Manager

Ms. Nandita Menezes has experience of 1 years. Manages 92 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹2,56,735 Cr

Arun Agarwal

Co-Portfolio Manager

Mr. Arun Agarwal has experience of 28 years. Manages 119 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹2,56,735 Cr Holds a B.Com degree.

Srinivasan Ramamurthy

Co-Portfolio Manager

Mr. Srinivasan Ramamurthy has experience of 18 years. Manages 67 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹2,40,998 Cr Holds a M.B.A. degree.

Dhruv Muchhal

Co-Portfolio Manager

Mr. Dhruv Muchhal has experience of 13 years. Manages 345 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹4,43,585 Cr Holds a B.Com degree.

Nandita Menezes

Co-Portfolio Manager

Ms. Nandita Menezes has experience of 1 years. Manages 92 funds at HDFC Asset Management Co Ltd with an AUM of approximately ₹2,56,735 Cr

CW Expert Take

HDFC AMC brings institutional rigour to focussed investing. Their strength lies in process consistency, whether managing large-cap equity or credit strategies, they maintain disciplined frameworks that have weathered multiple market cycles. The fund house benefits from deep research capabilities and a stable investment team that translates macro insights into portfolio positioning.

Investment Philosophy & Approach

Disciplined Approach

HDFC AMC follows a disciplined investment approach focused on rigorous research.

Risk Management

Risk management is embedded in the investment process through robust controls.

Long-Term Perspective

The fund house adopts a long-term perspective in capital allocation decisions.

Operational & Regulatory Details

What it costs to invest, transaction mechanics, and regulatory disclosures you should know.

Costs and Fees

Total Expense Ratio (TER)1.89%

Exit Load1

Regulatory & Tax Information

INF179K01AM7

ISIN

DailyDealing Frequency

LTCG | >1Year 12.5%% on gain above 1.25 Lakh

STCG | <1Year 20%%

Tax Implications (India)