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  • HDFC Income Fund (G)

    HDFC Income Fund(G)
    Dividend Yearly
    NA
    Category
    Debt - Income
    52-week NAV high
    39.19  (As on 06-12-2018)
    52-week NAV low
    37.47  (As on 22-02-2018)
    Expense
    2.15%  (As on 30-11-2018)

    Performance

    1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
    Fund Returns 1.12 2.69 3.85 2.11 1.07 6.03 5.82 7.88 -
    Scheme Details
    Fund Type
    Open Ended
    Investment Plan
    Growth
    Bonus
    NA
    Launch Date
    Sep 11, 2000
    Last Dividend
    NA
    Minimum Investment
    5000
  • HDFC Asset Management Company Ltd. was established in December 1999 and received the approval to act as an AMC for HDFC Mutual Fund on 3 July 2000. The registered office of the company is situated in Mumbai, India. The trustee of the AMC, HDFC Trustee Company Ltd. is also situated in Mumbai.

    The company offers several mutual funds for the benefit of investors such as growth funds, debt funds, exchange-traded funds, among others. The company also offers certain special funds like children’s gift fund, capital appreciation oriented schemes, retirement savings funds, etc., that investors can opt for based on their capital requirements. The HDFC Income Fund - Growth scheme is a debt scheme that helps investors grow their capital over a long period of time. The Growth option is suitable for individuals seeking plans that do not necessarily pay dividends but achieve capital appreciation and provide a lump-sum payout at the end of the term opted for.

    Investment Objective of HDFC Income Fund - Growth

    The objective of the scheme is to provide income to the investor and achieve capital appreciation by making investments in debt as well as money-market instruments.

    Key Features of HDFC Income Fund - Growth

    The basic features of the HDFC Income Fund – Growth scheme are:

    Type of fund Open-ended debt scheme that makes investments for medium terms in a way that the maturity duration is between 4 years and 7 years
    Plans available
    • Growth
    • Dividend
    Options under each plan
    • Regular
    • Direct
    Risk Moderate
    Systematic Investment Plan Available
    Systematic Transfer Plan Available
    Systematic Withdrawal Plan Available

    Investment Amount for HDFC Income Fund - Growth

    The investment amounts under each of the schemes have certain limitations as given below:

    Minimum application amount Rs.5,000
    Minimum additional investment Rs.1,000
    Minimum installment for Systematic Investment Plan (SIP) Rs.500
    Entry Load NA
    Exit Load
    • 0.25% of the units are charged if the units are switched out or redeemed within 30 days of allotment of units
    • No charges if the units are switched out or redeemed after 30 days of allotment of units

    The minimum balance that the investor is required to maintain in the account is Re.1.

    Asset Allocation for HDFC Income Fund - Growth

    The assets are allocated for each of the investment instruments as follows:

    Instruments Allocations (Percentage of total assets) Risk Profile
    Units issued by Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) 0% to 100% Medium to high
    Debt and money-market instruments Up to 100% Low to medium

    Who can invest in HDFC Income Fund - Growth

    The following individuals and groups can invest in this scheme:

    • Individuals residing in India – single holding or joint holding (Maximum 3)
    • Minor through a parent or legal guardian
    • Hindu Undivided Family
    • Companies, bodies corporate, partnership companies, limited liability partnerships, association of individuals, public sector undertakings, and co-operative societies
    • Trusts such as charitable trusts or religious trusts, wakf boards, endowments, and private trusts
    • Financial institutions, Multilateral financial institutions, banks, Bilateral Development Corporation Agencies, Reserve Bank of India
    • Overseas Citizen of India, Non-Resident Indian, Foreign Institutional Investor, Person of Indian Origin residing abroad, and Foreign Portfolio Investor
    • Other investment funds and mutual funds
    • Army, Para-military, Air Force, Navy and other similar bodies
    • Alternative investment funds and other mutual fund schemes
    • Council of Scientific and Industrial Research in India
    • Other scheme offered by HDFC Mutual Fund
    • AMC, trustees, and sponsors can also subscribe to the scheme
    • Other investors as decided by the AMC as per SEBI regulations.

    NAV Disclosure and Benchmark for HDFC Income Fund - Growth

    NAV: The NAV or the Net Asset Value of a unit under the scheme is calculated by dividing the net assets of the schemes by the number of units remaining on the day of valuation. To calculate the NAV, the liabilities and provisions of the scheme are first deducted from the sum of the value of the scheme’s investments and the existing assets. The resulting mathematical figure is then divided by the number of units remaining on that particular day. The NAV of a scheme is calculated on every business day by 9 pm on the official website of the Association of Mutual Funds in India (AMFI). The value is also put up on the official website of HDFC Mutual Fund and published in at least two popular newspapers in the country.

    Liquidity: Since the scheme is open-ended, investors can switch in, switch out, redeem or purchase units on any business day. Once the redemption is announced, the proceeds are to be released to the investors within 10 business days according to SEBI’s regulations. In case it is not released, the AMC is liable to pay a 15% penal interest p.a.

    Benchmark Index: The scheme has set the benchmark index as CRISIL Composite Bond Fund Index.

    Fund Managers of HDFC Income Fund - Growth

    The HDFC Income Fund – Growth is managed by Mr. Shobhit Mehrotra and Mr. Rakesh Vyas.

    Mr. Shobhit Mehrotra has 25 years of experience in credit rating, fixed income markets, and so on. He joined HDFC Mutual Fund in the year 2004 and has been managing the HDFC Income Fund – Growth scheme for 10 years and 8 months. Apart from this, he has been managing 5 open-ended schemes and 4 close-ended schemes.

    Mr. Rakesh Vyas has an 11-year experience in equity research and is a dedicated Fund Manager for overseas investments in HDFC Mutual Fund. Vyas joined the company in 2009 and has been managing the HDFC Income Fund – Growth scheme for 5 years and 11 months now. He manages 36 schemes along with this scheme.

    Investment Restrictions of HDFC Income Fund - Growth

    Some of the restrictions applicable to the scheme are:

    • Investments made under the scheme in debt instruments like money-market and non-money market securities are limited to 10% of NAV. The limit can be extended to 12% with the approval of the boards.
    • Investments made under the scheme in unrated debt instruments cannot cross 10% of NAV.
    • Investments made under the scheme in debt instruments issued by issuers from a single sector is restricted to 25%.
    • The scheme can make investments in another scheme under the HDFC AMC or another AMC without attracting any charges as long as the average inter-scheme investments under the scheme are not more than 5% of the NAV.
    • Transactions that involve government securities are carried out in the dematerialised form.
    • Loans cannot be taken against the investment scheme.
    • Investors can transfer their units from one scheme to another, provided the transfer is made at the existing market price and the objective of the new scheme is on the same lines as the previous scheme.

    Dividend Policy of HDFC Income Fund - Growth

    The trustee of the AMC has the right to decide and declare the dividends payable to the investors depending on the distributable surplus available with the scheme. The dividends will be paid to those individuals whose names appear on the register of unitholders on the record date. There is no guarantee as to how much or how frequently the dividend is paid to the unitholders. After payment of the dividend, the units will be reduced from the scheme’s corpus.

    A day after the trustees decide on the rate of dividend payable, the rate will be publicly announced through one English newspaper that has a wide circulation and another newspaper of the regional language of the head office of the AMC.

    Other facilities under HDFC Income Fund - Growth

    The company offers certain special facilities along with the main functions. Some of them are:

    • Trigger facility: Unitholders who hold units in the non-demat form can opt to withdraw the units from the existing balance when required. The individuals can give standing instructions so that when the unit balance reaches a certain value, he/she may redeem the required number of units. The units can be redeemed on certain predetermined dates too. Taxes, if any, will be deducted at the source.
    • Switch scheme/plan: Investors have the option to switch between schemes under the mutual fund or plans under the scheme in order to reap maximum benefits. For the switch to be effective, the units from the existing scheme are first redeemed and reinvested in the desired scheme. The initial redemption of units will be subject to the applicable exit load.
    • Channel distributors: The AMC has partnered with certain channel distributors with whom the unitholder can make an agreement to carry out transactions of units through their website, power of attorney, or any other electronic mode. The channel distributors will record the transactions made by them on behalf of the customers and will forward it to the AMC on a daily basis for processing.
    • Purchase/redemption of units through stock exchange: Unitholders can purchase or redeem units through the stock exchange medium for certain plans under the scheme. Investors can obtain a list of eligible plans from the official website of the AMC. In this case, switching of plans will not be permitted.

    Why you should invest in HDFC Income Fund - Growth

    HDFC Mutual Fund is a well-established and esteemed fund house. Each of the fund types and schemes have many plan variants that investors can choose from based on their risk appetite and investment objective. The company has many online facilities to make transactions more convenient. Individuals can create and log in to separate accounts and transfer funds online. In case of queries, investors can call the toll-free numbers available for making calls in India or abroad.

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    GST rate of 18% applicable for all financial services effective July 1, 2017.

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