HDFC Balanced Fund

HDFC Balanced Fund(G)-Direct Plan
Dividend Yearly
Hybrid - Equity Oriented
52-week NAV high
162.84  (As on 23-01-2018)
52-week NAV low
142.28  (As on 28-06-2017)
0.77%  (As on 30-04-2018)


1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
Fund Returns -2.24 -0.59 0.66 8.25 16.30 12.06 16.19 19.79 -
Scheme Details
Fund Type
Open Ended
Investment Plan
Launch Date
Dec 31, 2012
Last Dividend
Minimum Investment

The HDFC Balanced Fund is a hybrid equity-oriented mutual fund scheme with sizable investments in debt and money market instruments. It comes from the HDFC asset management company, which is the largest AMC in the country.

Type of fund

This is an open ended balanced/hybrid mutual fund.

Investment objective

The objective here is to generate current income and capital appreciation through investments in equities and debt and market instruments.

Fund information

Inception date 11/09/2009
CRISIL rank Rank 3 in Balanced Funds
  • Direct Plan – Growth Option
  • Direct Plan – Dividend Option
  • Growth Option
  • Dividend Option
Entry load 0%. Any upfront commissions to be paid by investor directly to ARN holder.
Exit load 1% if redeemed within 1 year
Minimum investment
  • Rs.5,000 for new investors and any amount thereafter
  • Rs1,000 for existing investors and any amount thereafter
  • Minimum Rs.500 for monthly subscription
  • Min. Rs.1,500 for quarterly subscription
Product label – Risk and target investors Moderately High risk. Meant for long term investors looking at capital appreciation and current income.
Benchmark CRISIL Balanced Fund Index. This benchmark is mainly used to track performance of equity-oriented balanced mutual funds. The index has a blend of CNX Nifty Index (65%) and CRISIL Bond Fund Index (35%).
SWP Yes. Available in Fixed and Variable variants. Frequency of withdrawals are monthly, quarterly half yearly and yearly for Fixed SWP and quarterly, half yearly and yearly for Variable SWP.
STP Yes. Available in two variants namely Fixed Systematic Transfer Plan (FSTP) and Capital Appreciation Systematic Transfer Plan (CASTP). Daily, Weekly, Monthly and quarterly transfer plans are available.
Redemption Proceeds to be dispatched within 3-4 days
Taxation (on investment and on redemption) As per applicable sections under the Income Tax Act.

Fund manager(s)

Mr Rakesh Vyas has over 8 years of experience with 5 years in equity research and 3 years in application engineering. He is the dedicated fund manager for overseas investments. He is an experienced fund manager and manages several funds for HDFC Mutual Funds including HDFC Capital Builder Fund, HDFC Balanced Fund, HDFC Multiple Yield Fund Plan 2005, HDFC Mid Cap Opportunities Fund and HDFC Short Term Opportunities Fund etc. He has a B.E. Electrical degree and a PGDM from XLRI Jamshedpur. He has previously worked with Lehman Brothers and Nomura.

Mr Chirag Setalvad is a seasoned fund manager with over 14 years of collective experience in the financial sector, of which 11 years consist of fund management and equity research and 3 years in investment banking. Mr Setalvad manages several funds for HDFC Mutual Funds including HDFC Mid Cap Opportunities, HDFC Long Term Advantage Fund and HDFC Capital Builder Fund, among others. He holds a B.Sc. degree and MBA from North Carolina University. He has previously worked with Vernon Advisory Services Ltd and ING Barings N.V.

Investment philosophy

The fund invests in a portfolio made up of equity and equity related investments as well as debt and money market investments. The equity investments are based on economic earning power and cash return on investments with focus on the long term. Debt class investments are made in instruments that have been rated as “high investment grade” by at least one credit rating agency. Investments in debt securities and money market instruments are assessed w.r.t liquidity risk, interest rate risk and credit risk.

Portfolio – Sector / Top 10 holdings*

Name Sector Class Allocation (%)
ICICI Bank Ltd Financial Equity 4.23
HDFC Bank Ltd Financial Equity 4.13
Infosys Ltd Tech Equity 4.05
8.30% GOI 2040 Sovereign Central Govt. Loan 3.85
Reliance Industries Ltd Energy Equity 3.56
8.28% GOI 2027 Sovereign Central Govt. Loan 3.50
Larsen & Toubro Ltd Diversified Equity 3.29
8.32% GOI 2032 Sovereign Central Govt. Loan 3.28
State Bank of India Financial Equity 3.16
Aurobindo Pharma Ltd Construction Equity 2.31

*As on 31st July 2015

Risk measures

Standard Deviation 11.71% Sharpe Ratio 1.25 Alpha 9.08% Beta 0.88


AUM Rs.4,360.98 crores (Growth)
  • Direct Plan – Dividend Option: Rs.28.9970
  • Direct Plan – Growth option: Rs.107.9180
  • Dividend Option: Rs.27.0700
  • Growth Option: Rs.105.9990
Expense Ratio
  • 2.50% on first Rs.100 crores daily net assets
  • 2.25% on next Rs.300 crores
  • 2.00% on next Rs.300 crores
  • 1.75% on remaining daily net assets

*As on 31st July 2015

Benchmark comparison*

Compounded Annualised Returns Scheme Returns (%) Benchmark Returns (%)
Returns for last 1 year 16.17 9.37
Returns for last 3 years 16.87 8.13
Returns for last 5 years 13.68 10.59
Returns since inception 17.49 NA

*As on 31st March 2011

Expert view of the fund

HDFC Balanced Fund has consistently beaten the benchmark returns since its inception in 2000. With a judicious mixture of equities, debt and money market instrument investments, the balanced fund is good for generating recurring income as well as long term capital appreciation. The fund is handled by seasoned mutual fund industry veterans and is among the largest funds in its category. If your risk profile and objectives are aligned with that of the fund, it is a good bet in the long run. Mutual fund investments are risky avenues in general, and you should consult with your personal financial advisor before making any investments.

How to apply

New and existing investors can apply for this fund through both online and offline means.

  • Online

    For online customers, you can directly go to the official website and register in the HDFCMFOnline portal. Once you have filled out all the details and submitted the KYC documents, you will be able to generate your HPIN number, which is used to login and invest in HDFC mutual funds. Payments can be made from multiple avenues. Alternatively some third-party providers also offer online investment options. You can invest through them after ensuring the offers are legitimate.

  • Offline

    For offline customers, you can approach the nearest HDFC mutual funds branch and complete the KYC norms. After this, you will be required to fill up documents and submit details. Once your application has been processed, your account will become active without any delay. Some third-party distributors are also selling mutual fund products and you can approach them to complete the registration on your behalf. Once again, it advisable to establish the credentials of a third-party vendor.

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