Vol. No. 8 Issue No. 7: January 2011

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Vol. No. 8 Issue No. 7
January 2011
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Market Review - January 2011
Equity market update

fter a sharp rise in the previous month, the companies revise their product prices and weather
A equity markets corrected in January with

the Sensex and Nifty falling about 10%
each. The broader market performed similarly
conditions normalize the pressure on margins
should ease to some extent.
Internationally, equity markets did well. On
with the CNX Midcap Index also down 10%. the back of better than expected economic data,
Concerns over the impact of high commodity the US market gained 2-3%. Despite continuing
prices on economic growth and corporate per- debt concerns, European market too did well with
formance weighed down investor sentiment. In most markets delivering positive returns.
addition, worries over the current political Commodities continued to do well with most of
imbroglio continued to act as a dampener. Since it them holding on to earlier gains.
recent high in early November, the Sensex has The Sensex currently trades at 15x one-year for-
fallen 13% and the Midcap Index almost 20%. ward earnings, around its long term average. In a
Several stocks have corrected sharply in the last year’s time, assuming a flat index, the forward PE
few months and now offer attractive valuations in multiple would come down to 13-14x, which is
relation to their long term prospects. quite attractive. This suggests that there is limited
The results season so far has proved to be a downside over a one year time frame with reason-
mixed bag. While top line growth continued to be able upside from a 2-3 years point of view. In the
strong, margin pressure was evident in select com- short term, commodities prices and a murky politi-
panies. Rising inflation and interest rates does cal scenario remain areas of concern and could
pose a challenge to some companies. Those with result in some volatility. Thus, a phased manner of
strong franchisees, better business dynamics and investing would make greater sense. However, over
superior quality management are likely to outper- a longer period, the markets should move in line
form in such a scenario. Besides a recovery in with underlying fundamentals which continue to
demand, unusual climatic conditions, in particular remain strong. Thus, for investors with a tolerance
a strong winter in the West and floods in Australia, for volatility and a long-term perspective, there
have contributed to firm commodity prices. As continues to be merit in investing in equities.
Debt market update

uring the month of January ’11, the yields in effect as well as some reversal in fruits and veg-
D the debt markets moved higher. The yield on

the 10-year Government Security increased
by 0.24% over December 2010 to 8.16% p.a.
etable prices.
INR depreciated during the month and closed at
45.9050 as compared to 44.7050 at end of previous
(source: Bloomberg). month. Net FII investment in equities & debt was an
The average LAF during the month was negative inflow of USD 1198.15 million in January as com-
` 92,785 crs compared to negative ` 120,494 crs in pared to an inflow of USD 710.18 million in
December. The liquidity improved inspite of healthy December 2010.
advance tax outflows as RBI bought G-secs worth After a brief pause, the Reserve Bank of India
more than ` 41,000 crores through OMO. The NSE (RBI) has reverted to its gradual tightening stance in
overnight MIBOR ended at 7% higher than previous its third quarter monetary policy review on Jan 25,
month reflecting the increase in repo rate by RBI. raising the repo and the reverse repo rates by 25bps
The annual rate of inflation, based on monthly to 6.5% and 5.5%, respectively. RBI acknowledged
WPI, stood at 8.43% (Provisional) for the month of that the primary role of monetary policy at this junc-
December, 2010 (over December, 2009) as com- ture is “containment and prevention of food and
pared to 7.48 % (Provisional) for the previous energy prices from spilling over into generalized
month and 6.92% during the month of December inflation and anchoring inflation expectations”.
2009. Build up of inflation in the financial year so Even though bulk of the tightening has already been
far was 6.11% compared to a build up of 7.87% in done, RBI may hike policy rates in future based on
the corresponding period of the previous year. the future inflation trajectory and the fiscal deficit to
Inflation is expected to drop due to the higher base be announced by government in Feb 2011.
2 January 2011 Intouchmutually

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PINS AND NEEDLES

Acupuncture treats a patient holistically rather than piecemeal, as is the case in
allopathic medicine
I
ndia’s pluralistic tradition extends to the Often used as a form of preventative
world of medicine as well. Homeopathy, medicine, acupuncture can help in prevent-
unani and ayurvedic are just some schools ing illness from occurring. Many people
of healing that co-exist with allopathy. To this receive acupuncture without suffering from
mix, add acupuncture, which is gaining any particular malady or ailment. Treatment
greater acceptance. It is believed that the ear- strengthens the constitution, and can cor-
liest practitioners of acupuncture were the rect a feeling of being unwell although there is
Chinese and there is, according to historians, no physical disorder, imbalance or illness in
evidence of it being practised as early as the the traditional western medicine sense.
Stone Age. Those who believe in acupuncture An acupuncturist generally spends a size-
also claim that all possible illnesses have been able amount of time with a patient when first
documented in acupuncture for over a thou- trying to arrive at a diagnosis. After fully
sand years. acquainting himself with the patient’s entire
Acupuncture benefits the improvement of medical history, a treatment plan is charted
physical health conditions as well as instills a out. And this is where acupuncture differs
feeling of increased mental clarity. from other schools. There are no medicines
In modern times, the growing popularity of that are prescribed and the practitioner works
acupuncture can be put down to its utility in mostly only with needles and, depending on
helping to manage and cure chronic illnesses. the severity and length of the illness, the time
Acupuncture’s biggest success, according to required for a cure is spelt out. The practition-
studies carried out by Western researchers, has er will use super slim needles after deciding on
been with musculoskeletal pain. Anyone who which pathways need to be treated.
has ever suffered from back pain or cervical So, for instance, for someone suffering
spondylitis will know the futility of pursuing from chronic fatigue, the acupuncturist is like-
allopathic treatment. ly to ‘needle’ the spleen channel. In acupunc-
Endless trips to a doctor’s clinic, sittings at ture, the spleen channel isn’t the same thing as
the physiotherapist’s and still no ease from the way the spleen is understood in allopathy.
pain or guarantee of a cure is the lot of those According to Wikipedia, “In Chinese medi-
who are unfortunate enough to suffer from cine, the energetic function called the Heart
spine problems. Acupuncture’s success with Meridian is responsible for sleeping, con-
musculoskeletal pain and other illnesses has a sciousness and anxiety, as well as the physical
lot to do with the way the system is practised. functions surrounding the heart organ, blood
Acupuncture is a holistic system which and blood vessels. In Western medicine the
believes in treating an illness by getting to its emotions are a chemical process that originate
root cause. The Chinese school of medicine is in the brain.”
predicated on the principle of qi. Whatever be the debate in scientific circles,
Loosely translated in English, qi means there are increasing numbers of people who
“vital energy”. When a person’s qi is either are beginning to choose this system of medi-
blocked or stagnant, illness manifests itself. cine over western medicine. The inability to
Hence, an acupuncturist will concentrate on treat chronic illnesses, and rising costs and
opening up the blocked qi. Treatment is effec- commercialisation are leading people to alter-
tive in removing these energy obstructions. native systems of medicine.
Acupuncture benefits a wide variety of dis- Acupuncture, on the other hand, gives
orders. Respiratory disorders such as sinusitis, relief, isn’t seen to be exploitative and com-
common cold, bronchitis and asthma can be mercial as yet. Also, the long and unhurried
effectively treated with acupuncture. regular interaction between the acupuncturist
Toothaches, neurological disorders including and the patient is a valued link in the treat-
paralysis following stroke, frozen shoulder or ment plan. ●
Tennis elbow, sciatica and osteoarthritis are
also treatable with acupuncture. BS REPORTER
Intouchmutually January 2011 3

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Features of our following schemes
HDFC Growth HDFC Equity HDFC Top 200 HDFC Capital HDFC Core & Satellite HDFC Premier
Fund Fund Fund Builder Fund Fund Multi-Cap Fund
Nature of Scheme Open-ended Growth Open-ended Open-ended Growth Open-ended Open-ended Growth Open-ended Growth
Scheme Growth Scheme Scheme Growth Scheme Scheme Scheme
Investment Objective To generate long term To achieve capital To generate long term To achieve capital To generate capital To generate capital
capital appreciation appreciation. capital appreciation from a appreciation in the appreciation through appreciation in the long
from a portfolio that is portfolio of equity and long term. equity investment in term through equity
invested predominantly equity-linked instruments companies whose shares investments by investing
in equity and primarily drawn from the are quoting at prices below in a diversified portfolio
equity related companies in BSE 200 their true value. of Mid Cap & Large Cap
instruments. index. ‘blue chip’ companies.
Fund Manager Srinivas Rao Ravuri Prashant Jain Prashant Jain Chirag Setalvad Vinay Kulkarni Vinay Kulkarni
(since Apr 3, 06)# (since Jun 19, 03)*# (since Jun19, 03)*# (since Apr 2, 07)# (since Nov 21, 06)# (since Nov 21, 06)#
Inception Date September 11, 2000 January 1, 1995 October 11, 1996 February 1, 1994 September 17, 2004 April 6, 2005
(Date of Allotment)
Entry / Sales Load Not Applicable. Pursuant to SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to
the investor. Upfront commission shall be paid directly by the investor to the ARN Holder (AMFI registered Distributor) based on the investors’
assessment of various factors including the service rendered by the ARN Holder.
Exit Load ● In respect of each purchase / switch-in of Units, an Exit Load of 1% 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.
No Entry / Exit Load shall be levied on bonus units and units allotted on dividend reinvestment.
Investment Growth & Dividend Growth & Dividend Growth & Dividend Growth & Dividend Growth & Dividend Growth & Dividend
Plan / Options The Dividend Option offers Dividend Payout and Reinvestment facility.
Minimum Purchase : ` 5,000 and any amount thereafter.

Application Amount Additional Purchase : ` 1,000 and any amount thereafter.
(Under each Plan)
Lock-in Period Nil Nil Nil Nil Nil Nil
Net Asset Value Every Business Day Every Business Day Every Business Day Every Business Day Every Business Day Every Business Day
(NAV)
Redemption Normally despatched Normally Normally despatched within Normally Normally despatched Normally despatched
Proceeds within 3 Business despatched within 3 Business Days. despatched within within 3 Business Days. within 3 Business Days.
Days. 3 Business Days. 3 Business Days.
Investors are advised to consult their tax advisors with respect to the tax consequences of the purchase, ownership and disposal of mutual fund units.
For Tax Benefits / Consequences, Please refer to page 9
* Date of migration from Zurich India Mutual Fund
# Miten Lathia (Dedicated Fund Manager for Overseas Investments since August 5, 2010)

HDFC Mid-Cap Opportunities Fund HDFC Index Fund HDFC Children’s Gift Fund^*
Nature of Scheme Open-ended Equity Scheme Open-ended Index Linked Scheme Open-ended Balanced Scheme
Investment Objective To generate long-term capital appreciation from a Nifty Plan : To generate returns that are The primary objective of both the Plans viz.
portfolio that is substantially commensurate with the performance of Investment Plan & Savings Plan under the
constituted of equity and equity related securities of the Nifty, subject to tracking errors. Scheme is to generate long term capital
Small and Mid-Cap companies SENSEX Plan : To generate returns that are appreciation.
commensurate with the performance of the
SENSEX, subject to tracking errors.
SENSEX Plus Plan : To invest 80 to 90% of
the net assets of the Plan in companies
whose securities are included in SENSEX
and between 10% & 20% of the net assets
in companies whose securities are not
included in the SENSEX.
Fund Manager Chirag Setalvad (Since June 25, 2007) # Vinay Kulkarni (since Dec 29, 06) Chirag Setalvad (since April 2, 07)#
Inception Date June 25, 07 July 17, 2002 March 2, 2001

(Date of Allotment)
Exit Load ● In respect of each purchase / switch-in of Units, an Nil ● For Units subject to Lock-in Period: NIL
Exit Load of 1% is payable if units are redeemed / ● For Units not subject to Lock-in Period: 3%
switched-out within 1 year from the date No Entry / Exit Load shall be levied on if the Units are redeemed / switched-out
of allotment. bonus units. within one year from the date of allotment;
● No Exit Load is payable if Units are redeemed / 2% if the Units are redeemed / switched-out
switched-out after 1 year from the date of allotment. between the first and second year of the date
of allotment; 1% if Units are redeemed /
No Entry/Exit Load shall be levied on bonus units and switched-out between the second and third
units allotted on dividend reinvestment. year of the date of allotment; Nil if the Units
are redeemed / switched -out after third year
from the date of allotment.
No Entry / Exit Load shall be levied on
bonus units
Investment Growth and Dividend Nifty Plan, SENSEX Plan, SENSEX Plus Plan Investment Plan : (Equity Oriented)
Plan / Options At present, each Plan offers Growth Option Savings Plan : (Debt Oriented)
only.
Minimum Purchase : ` 5,000 and any amount thereafter. Purchase : ` 5,000 and any Purchase : ` 5,000 and any
Application Amount Additional Purchase : ` 1,000 and any amount amount thereafter. $ amount thereafter.
(Under each Plan) thereafter. Additional Purchase : ` 1,000 and Additional Purchase : ` 1,000 and any
any amount thereafter. $ amount thereafter.
Lock-in Period Nil Nil If opted : Until the Unit holder (being the
beneficiary child) attains the age of 18 years
or until completion of 3 years from date of
allotment, whichever is later.
Net Asset Value Every Business Day Every Business Day Every Business Day
(NAV)
Redemption Normally despatched within Normally despatched within Normally despatched within 3 Business Days
Proceeds 3 Business days 3 Business Days. (subject to completion of Lock-in Period, if opted).
^ Eligibility (of Unit holder) : Children less than 18 years of age as on the date of investment by the Investor / Applicant are eligible as Unit holders in the Scheme. * Personal Accident Insurance Cover for Parent / Legal Guardian (upto the age of
80 years) of the Unit holder, equivalent to 10 times the cost value of the outstanding Units held by the Unit holder under all the applications / account statements / folios, subject to a maximum amount of Rs. 10 lakhs per Unit holder. The insur-
ance premium in respect of the personal accident insurance cover will be borne by the AMC. This accident insurance cover is subject to conditions of the group personal accident insurance policy.
$ All applications for purchase of units including additional purchases for an amount of Rupees Five Lakhs and above will be accepted with payment mode only as Real Time Gross Settlement (RTGS) /National Electronic Funds Transfer
(NEFT)/Funds Transfer Letter/ Transfer Cheque of a bank where the Scheme has a collection account. Any application for an amount of Rupees Five Lakhs and above with payment mode other than the above will be rejected.

HDFC Balanced Fund HDFC Prudence Fund HDFC Long Term HDFC TaxSaver HDFC Arbitrage Fund
Advantage Fund
Nature of Scheme Open-ended Balanced Open-ended Balanced Open-ended Equity Linked Open-ended Equity Linked Open ended Equity Fund
Scheme Scheme Savings Scheme with a Savings Scheme with a
lock-in period of 3 years lock-in period of 3 years
Investment Objective To generate capital To provide periodic returns To generate long term To achieve long term To generate income through arbitrage
appreciation along with and capital appreciation capital appreciation from a growth of capital. opportunities between cash and
current income from a over a long period of portfolio that is invested derivative market and arbitrage
combined portfolio of time from a judicious predominantly in equity opportunities within the derivative
equity & equity-related mix of equity and debt and equity-related segment and by deployment of
and debt & money market investments with an aim instruments. surplus cash in debt securities and
instruments. to prevent / minimise any money market instruments.
capital erosion.
Fund Managers Chirag Setalvad Prashant Jain Chirag Setalvad Vinay Kulkarni Anil Bamboli (since Oct 23, 07)#
(since April 2, 07)# (since Jun 19, 03)*# (since April 2, 2007)# (since Nov 21, 2006)#
Inception Date September 11, 2000 February 1, 1994 January 2, 2001 March 31, 1996 October 23, 2007
(Date of Allotment)
Exit Load ● In respect of each ● In respect of each Nil Nil Retail Plan & Wholesale Plan
purchase / switch-in of purchase / switch-in of ● In respect of each purchase /
Units, an Exit Load of Units, an Exit Load of switch-in of Units, an Exit Load
1% is payable if units 1% is payable if units of 0.50% is payable if units
are redeemed / are redeemed / are redeemed / switched-out
switched-out within 1 switched-out within 6 months from the date
year from the date within 1 year from the of allotment.
of allotment. date of allotment. ● No Exit Load is payable if Units
● No Exit Load is payable ● No Exit Load is payable are redeemed / switched-out
if Units are redeemed / if Units are redeemed / after 6 months year from the date
switched-out after 1 switched-out after 1 of allotment.
year from the date of year from the date of
allotment. allotment.
No Entry/Exit Load shall be levied on bonus units and units allotted on dividend reinvestment.
Investment Growth & Dividend Growth & Dividend Growth & Dividend Growth & Dividend Wholesale Plan and Retail Plan – Both
Plan / Options Plan offers Growth and Dividend
The Dividend Option offers Dividend payout and Reinvestment facility.
Option. Dividend Option offers
Quarterly Dividend Option with Payout
and Reinvestment Facility.
Minimum Purchase : ` 5,000 and any amount thereafter. For Purchase & Additional Purchase : ` 500 and in Wholesale Plan: Purchase / Additional
Application Amount Additional Purchase : ` 1,000 and any amount multiples of ` 500 thereafter. Purchase : `1 Crore and any amount
thereafter. thereafter.
Retail Plan: Purchase / Additional
Purchase : Growth / Quaterly Dividend
Option: `5,000 and any amount
thereafter.
Lock-in Period Nil Nil 3 years from the date of allotment of the respective Units Nil
Net Asset Value Every Business Day Every Business Day Every Business Day Every Business Day Every Business Day
(NAV)
Redemption Normally despatched Normally despatched Normally despatched within 3 Business Days Normally despatched within
Proceeds within 3 Business Days. within 3 Business Days. (subject to completion of Lock-in Period). 3 Business days.
* Date of migration from Zurich India Mutual Fund

HDFC MF Monthly Income Plan HDFC Multiple Yield Fund HDFC Multiple Yield Fund HDFC Income Fund
(HDFC MF MIP) – Plan 2005
Nature of Scheme An open-ended income scheme. Monthly income is Open-ended Income Scheme Open-ended Income Scheme Open-ended Income Scheme
not assured and is subject to availability of
distributable surplus
Investment Objective The primary objective of Scheme is to generate regular To generate positive returns To generate positive returns To optimise returns while
returns through investment primarily in Debt and over medium time frame with over medium time frame with maintaining a balance of
Money Market Instruments. The secondary objective low risk of capital loss over low risk of capital loss over safety, yield and liquidity.
of the Scheme is to generate long-term capital medium time frame. medium time frame.
appreciation by investing a portion of the Scheme’s
assets in equity and equity related instruments.
Fund Managers LTP – Prashant Jain (Equities) (since Dec 26, 03), Vinay Kulkarni (Equities), Chirag Setalvad (Equities), Shobhit Mehrotra
Shobhit Mehrotra (Debt) (since Sep 1, 07)#, (since Nov 21, 06) (since April 2, 07) (since Sep 1, 07)#
STP – Vinay Kulkarni (Equities) (since Nov 21, 06), Anil Bamboli (Debt) Anil Bamboli (Debt)
Shobhit Mehrotra (Debt) (since Feb 16, 04)# (since Sep 17, 04)# (since Aug 17, 05)#
Inception Date December 26, 2003 September 17, 2004 August 17, 2005 September 11, 2000
(Date of Allotment)
Exit Load For Short-Term Plan & Long-Term Plan ● In respect of each purchase ● In respect of each purchase ● In respect of each purchase /
● In respect of each purchase / switch-in of Units, an / switch-in of Units, an Exit / switch-in of Units, an Exit switch-in of Units, an Exit
Exit Load of 1% is payable if units are redeemed / Load of 1% is payable if Load of 1% is payable if Load of 0.5% is payable if
switched-out within 1 year from the date units are redeemed / units are redeemed / units are redeemed /
of allotment. switched-out within switched-out within 15 switched-out within
● No Exit Load is payable if Units are redeemed / 1 year from the date months from the date 6 months from the date
switched-out after 1 year from the date of of allotment. of allotment. of allotment.
allotment. ● No Exit Load is payable if ● No Exit Load is payable if ● No Exit Load is payable if
Units are redeemed / Units are redeemed / Units are redeemed /
switched-out after 1 year switched-out after 15 switched-out after 6 months
from the date of allotment. months from the date of from the date of allotment.
allotment.
Investment Short Term Plan (STP) & Long Term Plan (LTP). Each Plan Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility.
Plan / Options offers Growth, Monthly Dividend & Quarterly Dividend
Option. The Dividend Option offers Dividend Payout and
Reinvestment facility.
Minimum Short Term Plan : Purchase : Purchase : ` 5,000 and any amount thereafter.
Application Amount (Growth & Quarterly Dividend Option) – ` 5,000 and Additional Purchase : ` 1,000 and any amount thereafter.
any amount thereafter under each Option.
(Monthly Dividend Option) – ` 25,000 and any amount
thereafter.
Additional Purchase : ` 1,000 and any amount thereafter.
Long Term Plan : Purchase :
(Growth & Quarterly Dividend Option) – ` 5,000 and
any amount thereafter under each Option.
(Monthly Dividend Option) – ` 25,000 and any amount
thereafter.
Lock-in Period Nil Nil Nil Nil
Net Asset Value Every Business Day Every Business Day Every Business Day Every Business Day
(NAV)
Redemption Normally despatched within 3 Business Days Normally depatched within Normally depatched within Normally despatched within
Proceeds 3 Business Days 3 Business Days 3 Business Days

HDFC High Interest Fund (HHIF) HDFC Short Term Plan (STP) HDFC Liquid Fund (HLF) HDFC Cash Management Fund
Nature of Scheme Open-ended Income Scheme Open-ended Income Scheme Open-ended Liquid Income Scheme Savings & Call Plan: Open ended High Liquidity
Income Scheme.
Treasury Advantage Plan: Open-ended
Income Scheme.
Investment Objective To generate income by investing in a To generate regular income through To enhance income consistent with a high Savings & Call Plan: To generate
range of debt and money market investment in Debt Securities and Money level of liquidity, through a judicious portfolio optimal returns while maintaining
instruments of various maturity dates Market Instruments. mix comprising of money market and debt safety and high liquidity.
with a view to maximise income while instruments. Treasury Advantage Plan: To generate regular
maintaining the optimum balance of income through investment in debt
yield, safety and liquidity. securities and money market instruments.
Fund Managers Anil Bamboli (HHIF) (since Feb 16, 04)#, Anil Bamboli (since Jan 13, 04)# Shobhit Mehrotra (since Feb 16, 04)# Treasury Advantage Plan – Anil Bamboli
Shobhit Mehrotra – STP (since Sep 1, 07)# (since Sep 1, 07)#
Call Plan – Bharat Pareek (since May 23, 08)#,
Savings Plan – Bharat Pareek (w.e.f. Oct 1, 09)#
Inception Date HHIF : April 28, 1997 February 28, 2002 HLF : October 17, 2000 Savings & Treasury Advantage Plan:
(Date of Allotment) HHIF-STP : February 6, 2002 HLF – Premium Plan & HLF – Premium Plus Plan : November 18, 1999
February 24, 2003 Call Plan : February 6, 2002
Entry / Sales Load Not Applicable. Pursuant to SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor. Upfront commission
shall be paid directly by the investor to the ARN Holder (AMFI registered Distributor) based on the investors’ assessment of various factors including the service
rendered by the ARN Holder.
Exit Load HHIF : ● In respect of each purchase / Nil Savings, Treasury Advantage & Call Plan : Nil
● In respect of each purchase / switch-in switch-in of Units, an Exit Load of
of Units, an Exit Load of 0.50% is 0.50% is payable if units are
payable if units are redeemed / redeemed / switched-out within
switched-out within 3 months from the 6 months from the date
date of allotment. of allotment.
● No Exit Load is payable if Units are ● No Exit Load is payable if Units
redeemed / switched-out after 3 months areredeemed / switched-out
from the date of allotment. after 6 months from the date
HHIF - STP : In respect of each purchase / of allotment.
switch-in of units, an Exit Load of 0.25% is
payable if units are redeemed / switched-out
within 1 month from the date of allotment.
Investment HHIF : Growth, Quarterly, Half Yearly Growth & Dividend (Dividend Option HLF, HLF – Premium Plan & HLF – Premium Plus Savings Plan & Call Plan : Growth Option &
Plan / Options and Yearly Dividend Options. offers payout and Reinvestment facility). Plan. Each Plan offers Growth & Dividend Option. Daily Dividend Option (with Reinvestment
HHIF-STP : Growth & Dividend Option HLF – The Dividend Option offers Daily Dividend facility only). Savings Plan also offers Weekly
All Dividend Options offer Dividend Payout and Option (Reinvestment facility only) and Weekly Dividend Option (with payout and
Reinvestment facility. and Monthly Dividend Option (with payout and Reinvestment facility.
Reinvestment facility). Treasury Advantage Plan : (Retail and
HLF Premium Plan – The Dividend Option offers Wholesale Option) Growth and Dividend
Daily Dividend Option (with Reinvestment facility Option. Dividend Option offers Daily Dividend
only) and Weekly Dividend Option (with payout Option with Reinvestment facility only and
and Reinvestment facility). Weekly and Monthly Dividend Option with
HLF Premium Plus Plan – The Dividend Option payout and Reinvestment facility.
offers Weekly Dividend Option (with payout and
Reinvestment facility).
Minimum (Under each Plan) Purchase : ` 5,000 and any amount HLF : Growth Option : Purchase / Additional Savings Plan : (Growth Option)
Application Amount Purchase : ` 5,000 and any amount thereafter. * Purchase: ` 10,000 and any amount Purchase / Additional Purchase: ` 10,000
thereafter. Additional Purchase : ` 1,000 and any thereafter. and any amount thereafter.
Additional Purchase : ` 1,000 and any amount thereafter. * Dividend Option : Purchase / Additional Purchase: (Dividend Option) Purchase / Additional Purchase:
amount thereafter. ` 1,00,000 and any amount thereafter. ` 1,00,000 and any amount thereafter.
* The maximum investment amount HLF – Premium Plan (Purchase) : Call Plan : (Under Each Option)
(including switch-in) under all options ` 5,00,00,000 and any amount Purchase / Additional Purchase: ` 1,00,000
shall be ` 10 crore per investor (for thereafter for opening an account / folio and any amount thereafter.
all folios) in a calendar quarter. (Under each Option). Treasury Advantage Plan – Retail Option
HLF – Premium Plus Plan (Purchase) : Growth, Weekly and Monthly Dividend Option
` 20,00,00,000 and any amount Purchase : ` 5,000 and any amount thereafter.
thereafter for opening an account / folio (Under Additional Purchase: ` 1,000 and any amount
each Option). thereafter.
HLF – Premium Plan & HLF – Premium Plus Plan Daily Dividend Option
(Additional Purchase) : ` 1 and and any amount Purchase / Additional Purchase:
thereafter under each Option. `1,00,000 and any amount thereafter.
Treasury Advantage Plan – Wholesale Option
Purchase : ` 1 Crore and any
amount thereafter.
Additional Purchase : ` 1 and any
amount thereafter.
Lock-in Period Nil Nil Nil Nil
Net Asset Value Every Business Day Every Business Day All Year Round Savings & Call Plan: All Year Round
(NAV) Treasury Advantage Plan: Every Business Day
Redemption Normally despatched within Normally despatched within Normally despatched within 1 Business Day. Savings & Call Plan : Normally despatched
Proceeds 3 Business Days 3 Business Days. within 1 Business Day.
Treasury Advantage Plan: Normally despatched
within 3 Business Days.
Investors are advised to consult their tax advisors with respect to the tax consequences of the purchase, ownership and disposal of mutual fund units. For Tax Benefits / Consequences, Please refer to page 9

HDFC Floating Rate Income Fund HDFC Gilt Fund

Nature of Scheme Open-ended Income Scheme. Open-ended Income Scheme.
Investment Objective To generate regular income through investment in a portfolio comprising substantially of floating To generate credit risk-free returns through investments
rate debt / money market instruments, fixed rate debt / money market instruments swapped for in sovereign securities issued by the Central Government
floating rate returns and fixed rate debt securities and money market instruments. and / or a State Government.
Fund Manager Shobhit Mehrotra (since Feb 16, 04)# Anil Bamboli (since Sep 1, 2007)
Inception Date January 16, 2003 July 25, 2001

(Date of Allotment)
Entry / Sales Load Not Applicable. Pursuant to SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor.
Upfront commission shall be paid directly by the investor to the ARN Holder (AMFI registered Distributor) based on the investors’
Exit Load Short Term Plan : Nil Short Term Plan : Nil
Long Term Plan : Long Term Plan :
● In respect of each purchase / switch-in of Units, an Exit Load of 3% is payable if units are ● In respect of each purchase / switch - in of
redeemed / switched-out within 18 months from the date of allotment. units, an exit load of 0.25% is payable if units
● No Exit Load is payable if Units are redeemed / switched-out after 18 months from the are redeemed / switched out within 3 months
date of allotment. from the date of allotment.
● No exit load is payable if units are redeemed
/ switched - out after 3 months from the date
of allotment.
No Entry / Exit Load shall be levied on bonus units and units allotted on dividend reinvestment.
Investment Short Term Plan : For investors who wish to invest for short time period. Short Term Plan : For investors who wish to
Long Term Plan : For investors who wish to invest for relatively longer time period. invest for short time period.
Short Term Plan – Wholesale & Retail Option : Growth and Dividend Option. The Dividend Option Long Term Plan : For investors who wish to invest for
offers Daily Dividend Option (with Reinvestment facility only) and Weekly and Monthly Dividend relatively longer time period.
Option (with payout and Reinvestment facility).
Long Term Plan : Growth and Weekly Dividend Option (with Reinvestment facility only). Each Plan offers Growth and Dividend Options.
The Dividend Option offers Dividend Payout and
Reinvestment facility.
Minimum Short Term Plan – Retail Option : (Growth Option, Weekly Dividend Option & (Under each Plan / Option)
Application Amount Monthly Dividend Option) Purchase :
Purchase : ` 5,000 and any amount thereafter. ` 5,000 and any amount thereafter.
Additional Purchase : ` 1,000 and any amount thereafter. Additional Purchase :
(Daily Dividend Option) ` 1,000 and any amount thereafter.
Purchase / Additional Purchase : ` 1 lakh and any amount thereafter.
Short Term Plan – Wholesale Option : (Growth Option, Daily Dividend Option,
Weekly Dividend Option & Monthly Dividend Option)
Under each option : Purchase : ` 10 lakh and any amount thereafter.
Additional Purchase : ` 1 and and any amount thereafter.
Long Term Plan : For Purchase : ` 5,000 and any amount thereafter.
Lock-in Period Nil Nil
Net Asset Value Every Business Day Every Business Day

(NAV)
Redemption Normally despatched within 3 Business Days. Normally despatched within 3 Business Days.
Proceeds
Tax Benefits / Consequences : Income distributed by the Scheme(s) are free from Income-tax in the hands of investors. Distribution tax in case of Scheme(s) other than equity-oriented funds shall be payable
by the mutual fund at the rate of 13.841%* on income distributed to an individual/HUF and at the rate of 22.145%* on income distributed to any other investor. In case of income distributed by Liquid
Funds and Money Market Mutual Funds, Dividend Distribution Tax is payable by the Mutual Fund @27.681%*. Units of the Scheme(s) are not subject to Wealth-tax and Gift-tax. Unit holders are required to
pay Securities Transaction Tax (STT) at the rate of 0.25% at the time of redemption / switch-out of units of an equity-oriented fund.
* including applicable surcharge, education cess and secondary and higher education cess.
Gift of Units : With effect from 1.10.2009, as per the provisions of section 56(2)(vii) of the Income-tax Act, 1961, certain specified property transferred, without consideration / adequate consideration,
exceeding specified limits, are taxable in the hands of the recipient individual / HUF (subject to certain exceptions). The term “property” includes shares and securities. Units of a mutual fund could fall within
the purview of the term “securities”. As per the Act, “property” would refer to capital assets only.
Investors should be aware that the fiscal rules / tax laws may change and there can be no guarantee that the current tax position may continue indefinitely. In view of individual nature of tax consequences,
each investor is advised to consult his / her own professional tax advisor.
Fund Manager Total Experience
Prashant Jain Over 19 years
Shobhit Mehrotra Over 17 years
Anil Bamboli Over 15 years
Vinay Kulkarni Over 19 years
Chirag Setalvad Over 13 years
Srinivas Rao Ravuri Over 15 years
Bharat Pareek Over 9 years
Miten Lathia Over 9 years

hdfc-eq-r.qxd 2/8/2011 5:46 PM Page 1
HDFC EQUITY - MULTI CAP CATEGORY

HDFC EQUITY - MULTI CAP CATEGORY
Growth Fund (43 schemes) for 3 and 5 year
periods ending January 31, 2011 Equity Fund (43 schemes) for 3 and 5 year
periods ending January 31, 2011
An open-ended growth scheme An open-ended growth scheme
NAV (as at January 31, 2011) NAV per Unit (`) NAV (as at January 31, 2011) NAV per Unit (`)
Growth Option 84.486 Growth Option 273.824
Dividend Option 33.084 Dividend Option 50.324
Relative Performance ^ (Growth Option) Relative Performance ^ (Growth Option)

Date Period NAV Returns Benchmark Date Period NAV Returns Benchmark
per Unit ( `) (%)^ Returns (%)# per Unit ( `) (%)^ Returns (%)#
Jul 30, 10 Last Six months (185 days) 82.642 2.23 2.57 Jul 30, 10 Last Six months (185 days) 262.844 4.18 -1.13
Jan 29, 10 Last 1 Year (367 days) 70.759 19.28 11.97 Jan 29, 10 Last 1 Year (367 days) 221.192 23.65 6.43
Jan 31, 08 Last 3 Years (1096 days) 188.420 13.26 0.58
Jan 01, 95 Since Inception (5874 days) 10.000 22.83 9.86
Sep 11, 00 Since Inception (3794 days) 10.000 22.79 14.00
^Past performance may or may not be sustained in the future
^Past performance may or may not be sustained in the future Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are compounded annualized (CAGR).
compounded annualized (CAGR). #S&P CNX 500 (Please refer to page no 31)
# SENSEX
Portfolio – Top 10 Holdings (as at January 31, 2011) Portfolio – Top 10 Holdings (as at January 31, 2011)
Company Industry+ % to NAV
EQUITY & EQUITY RELATED
State Bank of India Banks 8.40
Infosys Technologies Ltd. Software 7.59 ICICI Bank Ltd. Banks 6.68
ITC Ltd. Consumer Non Durables 5.79 Titan Industries Ltd. Consumer Non Durables 4.68
State Bank of India Banks 5.77 Reliance Industries Ltd. Petroleum Products 4.65
ICICI Bank Ltd. Banks 5.68 Infosys Technologies Ltd. Software 4.41
Bharat Petroleum Corporation Ltd. Petroleum Products 4.94 Bank of Baroda Banks 4.24
Housing Development Finance Corporation Ltd. $ Finance 4.50 Tata Consultancy Services Ltd. Software 3.88
Oil & Natural Gas Corporation Ltd. Oil 4.36 Coal India Ltd. Minerals/Mining 3.03
Reliance Industries Ltd. Petroleum Products 4.17 GAIL (India) Ltd. Gas 2.80
Solar Industries India Ltd. Chemicals 4.06 Larsen & Toubro Ltd. Construction Project 2.53
Crompton Greaves Ltd. Industrial Capital Goods 3.76 Total of Top Ten Equity Holdings 45.30
Total of Top Ten Equity Holdings 50.62 Total Equity & Equity Related Holdings 98.65
Total Equity & Equity Related Holdings 95.88 Cash margin / Earmarked cash for Futures & Options 0.10
Cash margin 0.03 Other Cash, Cash Equivalents and Net Current Assets 1.25
Other Cash, Cash Equivalents and Net Current Assets 4.09 Grand Total 100.00
Grand Total 100.00 Net Assets ( ` In Lakhs) 828,897.98
Net Assets ( ` In Lakhs) 127,298.25
Portfolio Turnover Ratio (Last 1 Year) 41.84%
+ Industry Classification as recommended by AMFI
✤ Past performance is no guarantee of future results.
+ Industry Classification as recommended by AMFI, $ Sponsor Please refer to page no 31 for details on the Rating Methodology
✤ Past performance is no guarantee of future results. Total outstanding position (as at January 31,2011) in Derivative Instruments
Please refer to page no 31 for details on the Rating Methodology (Long Indian Oil Corporation Ltd. NSE Stock Futures February 2011) (Gross Notional) ` 84.49 lakhs,
Total outstanding position (as at January 31,2011) in Derivative Instruments (Short Petronet LNG Ltd. NSE Stock Futures February 2011) (Gross Notional) ` 200.85 lakhs,
(Short Biocon Ltd. NSE Stock Futures February 2011) (Gross Notional) ` 52.7 lakhs (Long Sterlite Industries ( India ) Ltd. NSE Stock Futures February 2011)
(Gross Notional) ` 568.8 lakhs.
Industry Allocation of Equity Holding (% of Net Assets)
Banks 15.00 Power 2.60 Industry Allocation of Equity Holding (% of Net Assets)
Petroleum Products 9.11 Fertilisers 2.00 Banks 22.55 Auto Ancillaries 2.85
Software 7.59 Gas 1.77 Consumer Non Durables 10.23 Ferrous Metals 2.61
Pharmaceuticals 7.43 Textile Products 1.59 Petroleum Products 8.69 Hardware 2.27
Consumer Non Durables 7.10 Construction Project 1.43 Software 8.29 Telecom - Services 2.14
Pharmaceuticals 7.54 Finance 1.68
Media & Entertainment 5.95 Auto Ancillaries 1.30
Industrial Capital Goods 4.42 Textile Products 1.11
Oil 5.94 Cement 1.18
Oil 4.06 Power 0.84
Industrial Capital Goods 5.90 Electrical Components & Equipments 1.10 Gas 3.85 Transportation 0.83
Finance 4.50 Engineering 1.02 Construction Project 3.52 Construction 0.59
Chemicals 4.06 Paper Products 0.98 Auto 3.29 Chemicals 0.50
Construction 4.05 Ferrous Metals 0.79 Media & Entertainment 3.13 Non - Ferrous Metals 0.39
Telecom - Services 3.49 Minerals/Mining 3.03 Textiles - Synthetic 0.24
Std Deviation Beta Sharpe Ratio* Std Deviation Beta Sharpe Ratio*
Risk Ratio (for the 3-yr period ended January 31, 2011) 8.60% 89.10% -0.003 Risk Ratio (for the 3-yr period ended January 31, 2011) 9.60% 94.10% 0.06
Monthly Figure Monthly Figure
Source : CRISIL Fund Analyser Source : CRISIL Fund Analyser
* Risk-free rate assumed to be 7.59% (364-day Treasury Bill yield on 31-01-11) * Risk-free rate assumed to be 7.59% (364-day Treasury Bill yield on 31-01-11)

HDFC Top EQUITY - LARGE & MID CAP CATEGORY

HDFC Capital
(57 schemes) for 3 and 5 year
200 Fund periods ending January 31, 2011 Builder Fund

per Unit ( `) (%) $$^ Returns (%)# per Unit ( `) (%)^ Returns (%)#
Jul 30, 10 Last Six months (185 days) 199.278 3.31 -0.50 Jul 30, 10 Last Six months (185 days) 105.795 1.35 -1.13
Jan 31, 08 Last 3 Years (1096 days) 147.718 11.69 0.59 Jan 31, 08 Last 3 Years (1096 days) 88.367 6.65 0.58
Oct 11, 96 Since Inception (5225 days) 10.000 25.25 14.83 Feb 01, 94 Since Inception (6208 days) 10.000 14.97 8.75
Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable ^Past performance may or may not be sustained in the future
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
compounded annualized (CAGR). #BSE 200 #S&P CNX 500 (Please refer to page no 31)
$$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are
are assumed to be reinvested in the units of the Scheme at the then prevailing NAV compounded annualized (CAGR).
(ex-dividend NAV).
Portfolio – Top 10 Holdings (as at January 31, 2011)
Company Industry+ / Rating % to NAV
Tata Consultancy Services Ltd. Software 6.55
ICICI Bank Ltd. Banks 6.18
Infosys Technologies Ltd. Software 6.06
IPCA Laboratories Ltd. Pharmaceuticals 5.60
Reliance Industries Ltd. Petroleum Products 4.94
Bank of Baroda Banks 4.08
Bank of Baroda Banks 5.37
ITC Ltd. Consumer Non Durables 3.43
Titan Industries Ltd. Consumer Non Durables 3.27
Oil India Ltd. Oil 4.50
Larsen & Toubro Ltd. Construction Project 3.08
Dr. Reddy’s Laboratories Ltd. Pharmaceuticals 4.01
Tata Consultancy Services Ltd. Software 3.03
Bharti Airtel Ltd. Telecom - Services 3.94
Oil & Natural Gas Corporation Ltd. Oil 2.83
Biocon Ltd. Pharmaceuticals 3.75
Total of Top Ten Equity Holdings 44.58
Total Equity & Equity Related Holdings 97.22
Cash margin / Earmarked cash for Futures & Options 0.31
Credit Exposure
Other Cash, Cash Equivalents and Net Current Assets 2.47
Britannia Industries Ltd. AAA 0.20
Grand Total 100.00 Total Credit Exposure 0.20
Net Assets (` In Lakhs) 940,917.88 Cash, Cash Equivalents and Net Current Assets 3.30
Portfolio Turnover Ratio (Last 1 Year) 25.99% Grand Total 100.00
+ Industry Classification as recommended by AMFI Net Assets ( ` In Lakhs) 56,663.04
Please refer to page no 31 for details on the Rating Methodology
Total outstanding position (as at January 31,2011) in Derivative Instruments
(Long Hindalco Industries Ltd NSE Stock Futures February 2011) (Gross Notional) ` 658.66 lakhs,
(Long Hindustan Petroleum Corporation Ltd. NSE Stock Futures February 2011) Portfolio Turnover Ratio (Last 1 Year) 14.87%
(Gross Notional) ` 126.63 lakhs, + Industry Classification as recommended by AMFI
(Short Petronet LNG Ltd. NSE Stock Futures February 2011) (Gross Notional) ` 41.2 lakhs,
(Long Reliance Industries Ltd. NSE Stock Futures February 2011) (Gross Notional) ` 925.75 lakhs,
(Long Tata Steel Ltd. NSE Stock Futures February 2011) (Gross Notional) ` 337.69 lakhs.

Banks 23.67 Power 2.56
Software 10.14 Ferrous Metals 2.47 Banks 18.94 Auto Ancillaries 2.95
Consumer Non Durables 9.32 Telecom - Services 1.98 Pharmaceuticals 17.86 Auto 2.88
Petroleum Products 8.44 Finance 1.93 Software 12.05 Construction Project 2.71
Pharmaceuticals 7.48 Non - Ferrous Metals 1.65 Petroleum Products 8.37 Chemicals 2.36
Auto 5.51 Diversified 1.24 Consumer Non Durables 6.57 Media & Entertainment 1.63
Oil 4.49 Media & Entertainment 0.80
Industrial Capital Goods 5.13 Finance 1.42
Construction Project 4.16 Transportation 0.69
Industrial Capital Goods 3.64 Hardware 0.49 Oil 4.50 Power 1.15
Gas 3.52 Cement 0.33 Telecom - Services 3.94 Gas 0.97
Minerals/Mining 2.71 Consumer Durables 3.07
Risk Ratio (for the 3-yr period ended January 31, 2011) 9.00% 88.60% 0.04 Risk Ratio (for the 3-yr period ended January 31, 2011) 8.90% 86.40% -0.009

HDFC Core & HDFC Premier

Satellite Fund Multi-Cap Fund

Jul 30, 10 Last Six months (185 days) 39.418 2.01 -0.50 Jul 30, 10 Last Six months (185 days) 28.517 -0.59 -1.13
Sep 17, 04 Since Inception (2327 days) 10.000 24.39 19.61 Apr 06, 05 Since Inception (2126 days) 10.000 19.59 16.62
^Past performance may or may not be sustained in the future ^Past performance may or may not be sustained in the future
Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are
compounded annualized (CAGR). #BSE 200 compounded annualized (CAGR). #S&P CNX 500 (Please refer to page no 31)
Company Industry+ % to NAV Company Industry+ % to NAV
EQUITY & EQUITY RELATED EQUITY & EQUITY RELATED

Infosys Technologies Ltd. Software 9.39 Infosys Technologies Ltd. Software 7.97
Tata Consultancy Services Ltd. Software 7.12 ICICI Bank Ltd. Banks 7.49
Bank of Baroda Banks 5.84 Emami Ltd. Consumer Non Durables 6.12
Crompton Greaves Ltd. Industrial Capital Goods 4.74 Crompton Greaves Ltd. Industrial Capital Goods 5.18
NTPC Ltd. Power 4.13 Tata Consultancy Services Ltd. Software 4.86
Emami Ltd. Consumer Non Durables 4.04 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 4.85
KEC International Ltd. Power 3.39 Axis Bank Ltd. Banks 4.55
Sundaram Fasteners Ltd. Auto Ancillaries 3.11 State Bank of India Banks 4.43
Bharat Electronics Ltd. Industrial Capital Goods 3.07 KEC International Ltd. Power 4.17
Axis Bank Ltd. Banks 2.88 Bharti Airtel Ltd. Telecom - Services 4.01
Total of Top Ten Equity Holdings 47.71 Total of Top Ten Equity Holdings 53.63
Total Equity & Equity Related Holdings 91.55 Total Equity & Equity Related Holdings 97.19
Cash, Cash Equivalents and Net Current Assets 8.45 Cash, Cash Equivalents and Net Current Assets 2.81
Grand Total 100.00 Grand Total 100.00
Net Assets ( ` In Lakhs) 43,164.10 Net Assets ( ` In Lakhs) 47,734.04

Segmentwise Break-up of Equity Holding (% of Net Assets)

Large-Cap 44.53
Mid-Cap 52.69
Software 16.51 Petroleum Products 2.84 Industry Allocation of Equity Holding (% of Net Assets)
Banks 14.15 Textiles - Synthetic 2.76 Banks 19.97 Industrial Products 3.86
Power 8.61 Oil 2.60 Software 12.83 Transportation 3.79
Industrial Capital Goods 7.81 Consumer Durables 2.23 Consumer Non Durables 9.98 Chemicals 2.83
Pharmaceuticals 5.77 Paper Products 2.19 Media & Entertainment 9.42 Petroleum Products 2.70
Consumer Non Durables 5.64 Engineering 0.85 Pharmaceuticals 6.44 Construction Project 1.65
Auto Ancillaries 5.43 Chemicals 0.75 Power 6.24 Paper Products 1.65
Media & Entertainment 5.15 Engineering Services 0.66 Industrial Capital Goods 5.18 Oil 1.52
Construction 3.67 Finance 0.35 Telecom - Services 4.01 Auto Ancillaries 1.17
Industrial Products 3.58 Gas 3.88 Engineering 0.07
Risk Ratio (for the 3-yr period ended January 31, 2011) 10.10% 97.50% 0.02 Risk Ratio (for the 3-yr period ended January 31, 2011) 9.90% 96.50% 0.01

HDFC Mid-Cap EQUITY - MID & SMALL CAP CATEGORY HDFC Index Fund
Opportunities Fund (54 schemes) for 3 and 5 year
An open-ended index linked scheme
An open-ended equity scheme
NAV (as at January 31, 2011) NAV per Unit (`) SENSEX Plan (Face Value per Unit: ` 32.161)
Growth Option 14.736
Dividend Option 14.736 NAV (as at January 31, 2011) NAV per Unit (`)
SENSEX Plan 152.9380
Relative Performance ^ (Growth Option)
Relative Performance ^
Date Period NAV Returns Benchmark
per Unit ( `) (%)^ Returns (%)# Date Period NAV Returns Benchmark
per Unit ( `) (%)^ Returns (%)#
Jul 30, 10 Last Six months (185 days) 14.744 -0.05 -5.86
Jan 29, 10 Last 1 Year (367 days) 12.143 21.23 9.95 Jul 30, 10 Last Six months (185 days) 149.0113 2.64 2.95
Jan 31, 08 Last 3 Years (1096 days) 11.460 8.73 2.73 Jan 29, 10 Last 1 Year (367 days) 136.6523 11.85 13.21
Jun 25, 07 Since Inception (1316 days) 10.000 11.35 8.89 Jan 31, 08 Last 3 Years (1096 days) 154.2980 -0.29 2.51
^Past performance may or may not be sustained in the future Jul 17, 02 Since Inception (3120 days) 32.1610^^ 20.01 25.19
Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable ^Past performance may or may not be sustained in the future
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are
compounded annualized (CAGR). Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are
#CNX Midcap (Please refer to page no 31) compounded annualized (CAGR).
^^Face Value per Unit #SENSEX (Total Returns Index) (Please refer to page no 31)
EQUITY & EQUITY RELATED Portfolio – Top 10 Holdings (as at January 31, 2011)
IPCA Laboratories Ltd. Pharmaceuticals 5.04 Company Industry+ % to NAV
Carborundum Universal Ltd. Industrial Products 4.07
Lupin Ltd. Pharmaceuticals 3.48
Union Bank of India Banks 3.18
Crompton Greaves Ltd. Industrial Capital Goods 2.99 Infosys Technologies Ltd. Software 10.67
Exide Industries Ltd. Auto Ancillaries 2.95 ICICI Bank Ltd. Banks 8.29
Biocon Ltd. Pharmaceuticals 2.90 Larsen & Toubro Ltd. Construction Project 6.36
Solar Industries India Ltd. Chemicals 2.83 ITC Ltd. Consumer Non Durables 6.16
Indian Bank Banks 2.73 Housing Development Finance Corporation Ltd. $ Finance 5.79
Allahabad Bank Banks 2.65 HDFC Bank Ltd. Banks 5.43
Total of Top Ten Equity Holdings 32.82 State Bank of India Banks 5.32
Total Equity & Equity Related Holdings 92.54 Tata Consultancy Services Ltd. Software 4.88
Cash margin 0.18 Oil & Natural Gas Corporation Ltd. Oil 3.53
Other Cash, Cash Equivalents and Net Current Assets 7.29 Total of Top Ten Equity Holdings 67.82
Grand Total 100.00 Total Equity & Equity Related Holdings 102.68
Net Assets ( ` In Lakhs) 114,263.01 Cash, Cash Equivalents and Net Current Assets (2.68)
Grand Total 100.00
Portfolio Turnover Ratio (Last 1 Year) 21.99% Net Assets ( ` In Lakhs) 5,616.87
Industry Allocation of Equity Holding (% of Net Assets) + Industry Classification as recommended by AMFI, $ Sponsor
Industrial Products 16.02 Media & Entertainment 2.06
Pharmaceuticals 15.88 Construction 2.05
Auto Ancillaries 12.68 Fertilisers 1.84
Banks 11.19 Finance 1.84
Industrial Capital Goods 5.66 Pesticides 1.25
Consumer Non Durables 4.81 Power 1.16
Chemicals 4.42 Textile Products 0.71
Petroleum Products 3.85 Ferrous Metals 0.63
Consumer Durables 3.57 Software 0.52
Construction Project 2.40 Industry Allocation of Equity Holding (% of Net Assets)
Banks 19.04 Non - Ferrous Metals 4.09
Segmentwise Break-up of Equity Holding (% of Net Assets) Software 17.36 Telecom - Services 3.64
Petroleum Products 11.39 Oil 3.53
Large-Cap 0.08
Auto 8.69 Industrial Capital Goods 2.70
Mid-Cap 84.24
Construction Project 6.36 Diversified 2.08
Small-Cap 8.19
Consumer Non Durables 6.16 Pharmaceuticals 1.22
Finance 5.79 Cement 0.70
Std Deviation Beta Sharpe Ratio* Ferrous Metals 4.94 Construction 0.69
Risk Ratio (for the 3-yr period ended January 31, 2011) 9.10% 82.40% 0.01 Power 4.30
Monthly Figure
Source : CRISIL Fund Analyser
* Risk-free rate assumed to be 7.59% (364-day Treasury Bill yield on 31-01-11) Tracking Error Since Inception (Annualised) 2.30%

EQUITY - LARGE CAP CATEGORY

HDFC Index Fund HDFC Index Fund (35 schemes) for 3 and 5 year
An open-ended index linked scheme An open-ended index linked scheme
NIFTY Plan (Face Value per Unit: ` 10.326)

SENSEX Plus Plan (Face Value per Unit: ` 32.161)
NAV (as at January 31, 2011) NAV per Unit (`)
NIFTY Plan 47.7235
SENSEX Plus Plan 223.2443
Jul 30, 10 Last Six months (185 days) 46.7995 1.97 2.96 Jul 30, 10 Last Six months (185 days) 215.6791 3.51 2.95
Jul 17, 02 Since Inception (3120 days) 10.3260^^ 19.61 23.44 Jul 17, 02 Since Inception (3120 days) 32.1610^^ 25.44 25.19
compounded annualized (CAGR). compounded annualized (CAGR).
#S&P CNX Nifty (Total Returns Index) (Please refer to page no 31) #SENSEX (Total Returns Index) (Please refer to page no 31)
^^Face Value per Unit ^^ Face Value per Unit
Company Industry+ % to NAV Company Industry+ % to NAV
Reliance Industries Ltd. Petroleum Products 8.73 Infosys Technologies Ltd. Software 8.42
Infosys Technologies Ltd. Software 8.46 ICICI Bank Ltd. Banks 7.51
ICICI Bank Ltd. Banks 6.60 State Bank of India Banks 5.81
Larsen & Toubro Ltd Construction Project 4.94 Reliance Industries Ltd. Petroleum Products 5.76
ITC Ltd. Consumer Non Durables 4.83 Housing Development Finance Corporation Ltd. $ Finance 4.82
Housing Development Finance Corporation Ltd. $ Finance 4.57 Larsen & Toubro Ltd. Construction Project 4.70
HDFC Bank Ltd. Banks 4.07 Dr. Reddy’s Laboratories Ltd. Pharmaceuticals 4.26
State Bank of India Banks 3.88 HDFC Bank Ltd. Banks 3.85
Tata Consultancy Services Ltd. Software 3.34 Tata Consultancy Services Ltd. Software 3.61
Oil & Natural Gas Corporation Ltd. Oil 2.26 The Federal Bank Ltd. Banks 3.08
Cash margin / Earmarked cash for Futures & Options 6.85 Cash, Cash Equivalents and Net Current Assets 17.88
Other Cash, Cash Equivalents and Net Current Assets 0.51 Grand Total 100.00
Grand Total 100.00 Net Assets ( ` In Lakhs) 5,909.18

+ Industry Classification as recommended by AMFI, $ Sponsor
Total outstanding position (as at January 31,2011) in Derivative Instruments + Industry Classification as recommended by AMFI, $ Sponsor
(Long Nifty NSE February 2011 Futures) (Gross Notional) ` 356.27 lacs ✤ Past performance is no guarantee of future results.

Banks 17.92 Non - Ferrous Metals 3.20 Industry Allocation of Equity Holding (% of Net Assets)
Software 13.65 Oil 3.06
Banks 20.25 Auto Ancillaries 2.31
Petroleum Products 9.18 Industrial Capital Goods 2.94
Software 13.38 Industrial Capital Goods 2.22
Auto 6.60 Telecom - Services 2.69
Pharmaceuticals 6.23 Transportation 2.04
Finance 5.85 Cement 1.70
Petroleum Products 5.76 Chemicals 2.02
Construction Project 4.94 Diversified 1.62
Finance 4.82 Diversified 1.87
Consumer Non Durables 4.83 Gas 1.20
Construction Project 4.70 Ferrous Metals 1.54
Ferrous Metals 4.21 Minerals/Mining 0.76
Auto 3.58 Industrial Products 0.85
Power 4.20 Construction 0.46
Power 3.36 Non - Ferrous Metals 0.70
Pharmaceuticals 3.63
Telecom - Services 2.83 Cement 0.54
Consumer Non Durables 2.75 Construction 0.37
Tracking Error Since Inception (Annualised) 2.56%

HDFC Balanced Fund HYBRID EQUITY - ORIENTED CATEGORY HDFC HYBRID EQUITY - ORIENTED CATEGORY
(25 schemes) for 3 and 5 year (25 schemes) for 3 and 5 year
periods ending January 31, 2011 Prudence Fund periods ending January 31, 2011
An open-ended balanced scheme An open-ended balanced scheme

per Unit ( `) (%)^ Returns (%)# per Unit ( `) (%)$$^ Returns (%)#
Feb 01, 94 Since Inception (6208 days) 10.000 21.31 N.A.
Sep 11, 00 Since Inception (3794 days) 10.000 17.34 N.A.
^Past performance may or may not be sustained in the future Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are compounded annualized (CAGR). #CRISIL Balanced Fund Index N.A. Not Available
compounded annualized (CAGR). N.A. Not Available $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are
#CRISIL Balanced Fund Index assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV).
Company / Issuer Industry+ / Rating % to NAV Company / Issuer Industry+ / Rating % to NAV
Tata Consultancy Services Ltd. Software 3.88 State Bank of India Banks 4.87
Sun Pharmaceutical Industries Ltd. Pharmaceuticals 2.76 Tata Consultancy Services Ltd. Software 4.05
Coal India Ltd. Minerals/Mining 2.67 ICICI Bank Ltd. Banks 3.54
Infosys Technologies Ltd. Software 2.61 Bank of Baroda Banks 3.15
Motherson Sumi Systems Ltd. Auto Ancillaries 2.55 Titan Industries Ltd. Consumer Non Durables 3.01
Bank of Baroda Banks 2.54 Coal India Ltd. Minerals/Mining 2.31
IPCA Laboratories Ltd. Pharmaceuticals 2.54 Page Industries Ltd. Textile Products 2.01
Reliance Industries Ltd. Petroleum Products 2.46 3M India Ltd. Trading 1.97
Balkrishna Industries Ltd. Auto Ancillaries 2.43 Total of Top Ten Equity Holdings 31.62
Bharti Airtel Ltd. Telecom - Services 2.40 Total Equity & Equity Related Holdings 72.86
Total of Top Ten Equity Holdings 26.84 Government Securities, Money Market Instruments
Total Equity & Equity Related Holdings 66.25 & Other Credit Exposure
Government Securities, Money Market Instruments Government Securities Sovereign 11.24
Indian Railways Finance Corporation Ltd. AAA 1.81
& Other Credit Exposure LIC Housing Finance Ltd. AAA 1.71
Tata Motors Ltd. (Guaranteed by SBI) AAA(SO) 6.79 Punjab National Bank AAA/F1+(IND) 1.15
Canara Bank P1+ 5.76 State Bank of India AAA 1.09
Bajaj Finance Ltd. AA+ 4.07 Power Finance Corporation Ltd. AAA 0.99
LIC Housing Finance Ltd. AAA 2.42 State Bank of Patiala AAA/P1+ 0.89
UCO Bank P1+ 0.86
Bank of India P1+ 2.37 Rural Electrification Corporation Ltd. AAA 0.51
State Bank of Patiala P1+ 1.93 Housing Development Finance Corporation Ltd. $ AAA 0.27
Shriram Transport Finance Co. Ltd. AA+(SO) 1.26 Total of Top Ten Government Securities
State Bank of India AAA 1.10 Money Market Instruments & Other Credit Exposure
Government Securities Sovereign 1.04 (aggregated holdings in a single issuer) 20.52
Grasim Industries Ltd. AAA(SO) 0.87 Total Government Securities, Money Market Instruments
Total of Top Ten Government Securities, & Other Credit Exposure 21.62
Money Market Instruments & Other Credit Exposure 27.61 Cash margin / Earmarked cash for Futures & Options 0.02
Total Government Securities, Other Cash, Cash Equivalents and Net Current Assets 5.50
Grand Total 100.00
Money Market Instruments & Other Credit Exposure
Net Assets (` In Lakhs) 578,882.79
(aggregated holdings in a single issuer) 28.28
Cash, Cash Equivalents and Net Current Assets 5.47 Portfolio Turnover Ratio (Last 1 Year) 36.71%
Grand Total 100.00 + Industry Classification as recommended by AMFI, $ Sponsor
Net Assets ( ` In Lakhs) 23,917.07 ✤ Past performance is no guarantee of future results.
Portfolio Turnover Ratio (Last 1 Year) 13.31% Total outstanding position (as at January 31,2011) in Derivative Instruments (Long Bharat Petroleum
+ Industry Classification as recommended by AMFI Corporation Ltd. NSE Stock Futures February 2011) (Gross Notional) ` 154.15 lakhs.
✤ Past performance is no guarantee of future results. Industry Allocation of Equity Holding (% of Net Assets)
Banks 14.62 Telecom - Services 1.54
Software 8.92 Auto 1.53
Industry Allocation of Equity Holding (% of Net Assets) Consumer Non Durables 8.34 Gas 1.48
Pharmaceuticals 10.93 Construction 2.55 Pharmaceuticals 5.78 Ferrous Metals 1.12
Auto Ancillaries 8.74 Telecom - Services 2.40 Oil 3.32 Consumer Durables 1.05
Textile Products 3.01 Power 0.92
Banks 7.40 Fertilisers 2.26 Media & Entertainment 2.69 Finance 0.90
Software 6.49 Chemicals 2.09 Industrial Capital Goods 2.35 Paper 0.73
Petroleum Products 4.56 Construction Project 1.77 Chemicals 2.32 Construction 0.71
Industrial Capital Goods 3.60 Media & Entertainment 1.20 Minerals/Mining 2.31 Paper Products 0.60
Industrial Products 3.47 Power 1.12 Petroleum Products 2.21 Construction Project 0.52
Auto Ancillaries 2.02 Retailing 0.19
Consumer Non Durables 3.28 Consumer Durables 0.92
Trading 1.97 Textiles - Synthetic 0.16
Minerals/Mining 2.67 Finance 0.80 Industrial Products 1.55

HDFC Children’s HYBRID EQUITY - ORIENTED CATEGORY

HDFC Children’s
Gift Fund (25 schemes) for 3 and 5 year
periods ending January 31, 2011 Gift Fund
An open-ended balanced scheme An open-ended balanced scheme
Investment Plan Savings Plan
Investment Plan 40.188 Savings Plan 22.084
Relative Performance ^ Relative Performance ^

per Unit ( `) (%)^$ Returns (%)# per Unit ( `) (%)^$ Returns (%)#
Mar 02, 01 Since Inception (3622 days) 10.000 18.13 N.A. Mar 02, 01 Since Inception (3622 days) 10.000 11.21 N.A.
compounded annualized (CAGR). N.A. Not Available compounded annualized (CAGR). N.A. Not Available
#CRISIL Balanced Fund Index $ Adjusted for bonus units declared under the scheme #CRISIL MIP Blended Index $ Adjusted for bonus units declared under the scheme
Company / Issuer Industry+ / Rating % to NAV Company / Issuer Industry+ / Rating % to NAV
TTK Prestige Ltd. Consumer Durables 5.13 TTK Prestige Ltd. Consumer Durables 3.20
Bank of Baroda Banks 3.31 IPCA Laboratories Ltd. Pharmaceuticals 1.81
VST Industries Ltd. Consumer Non Durables 3.22 Infosys Technologies Ltd. Software 1.61
Lupin Ltd. Pharmaceuticals 3.21 Crisil Ltd. Finance 1.40
Axis Bank Ltd. Banks 3.07 Banco Products (India) Ltd. Auto Ancillaries 1.22
ICICI Bank Ltd. Banks 2.99 Clariant Chemicals (India) Ltd. Chemicals 1.11
Sun Pharmaceutical Industries Ltd. Pharmaceuticals 2.77 Vesuvius India Ltd. Industrial Products 1.04
Biocon Ltd. Pharmaceuticals 2.66 VST Industries Ltd. Consumer Non Durables 1.04
Infosys Technologies Ltd. Software 2.61 Coal India Ltd. Minerals/Mining 0.96
Motherson Sumi Systems Ltd. Auto Ancillaries 2.60 ICICI Bank Ltd. Banks 0.94
Money Market Instruments & Other Credit Exposure Government Securities, Money Market Instruments
Tata Motors Ltd. (Guaranteed by SBI) AAA(SO) 5.36 & Other Credit Exposure
Shriram Transport Finance Co. Ltd. AA(ind)/AA+(SO) 4.21
State Bank of Patiala P1+ 11.72
Canara Bank P1+ 3.49
Bajaj Finance Ltd. AA+ 10.80
ICICI Bank Ltd. AAA 2.97
Jet Airways (India) Ltd. AAA(SO) 1.59
LIC Housing Finance Ltd. AAA 6.13
ICICI Bank Ltd. AAA 5.60
Bajaj Finance Ltd. AA+ 1.11
Power Finance Corporation Ltd. AAA 4.35
Bank of India P1+ 1.08
State Bank of India AAA 4.16
Grasim Industries Ltd. AAA(SO) 4.14
Total of Top Ten Money Market Instruments
Government Securities Sovereign 3.96
& Other Credit Exposure 23.87
Total of Top Ten Government Securities,
Total Money Market Instruments
& Other Credit Exposure Money Market Instruments & Other Credit Exposure
(aggregated holdings in a single issuer) 24.21 (aggregated holdings in a single issuer) 65.33
Cash, Cash Equivalents and Net Current Assets 4.94 Total Government Securities,
Grand Total 100.00 Money Market Instruments & Other Credit Exposure 73.44
Net Assets ( ` In Lakhs) 26,281.67 Cash, Cash Equivalents and Net Current Assets 8.35
Grand Total 100.00
Portfolio Turnover Ratio (Last 1 Year) 17.75% Net Assets ( ` In Lakhs) 6,303.59
✤ Past performance is no guarantee of future results. Average Maturity 2.45 years (other than equity investments)
Modified Duration 1.77 years (other than equity investments)
Industry Allocation of Equity Holding (% of Net Assets) + Industry Classification as recommended by AMFI
Banks 13.06 Construction 1.98
Pharmaceuticals 11.99 Telecom - Services 1.82
Consumer Non Durables 7.66 Fertilisers 1.77 Industry Allocation of Equity Holding (% of Net Assets)
Consumer Durables 6.66 Auto 1.63
Industrial Products 5.57 Minerals/Mining 1.15 Consumer Durables 3.94 Auto Ancillaries 1.22
Software 4.82 Construction Project 1.12 Industrial Products 2.75 Chemicals 1.11
Auto Ancillaries 3.96 Finance 1.09 Pharmaceuticals 1.81 Minerals/Mining 0.96
Industrial Capital Goods 3.39 Media & Entertainment 0.96 Consumer Non Durables 1.73 Banks 0.94
Petroleum Products 2.22 Software 1.61 Construction 0.74
Finance 1.40

HDFC Long Term HDFC EQUITY - TAX PLANNING CATEGORY

(28 schemes) for 3 and 5 year
Advantage Fund TaxSaver periods ending January 31, 2011
An open-ended equity linked savings scheme with a lock-in period of 3 years An open-ended equity linked savings scheme with a lock-in period of 3 years

per Unit ( `) (%)^ Returns (%)# per Unit ( `) (%)$$^ Returns (%)#
Jul 30, 10 Last Six months (185 days) 129.880 2.86 2.57 Jul 30, 10 Last Six months (185 days) 223.298 1.96 -1.13
Jan 02, 01 Since Inception (3681 days) 10.000 29.31 16.24 Mar 31, 96 Since Inception (5419 days) 10.000 31.37 13.22
compounded annualized (CAGR). compounded annualized (CAGR). #S&P CNX 500 (Please refer to page no 31)
#SENSEX $$ 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 NAV (ex-dividend NAV).
Company Industry+ / Rating % to NAV
Tata Consultancy Services Ltd. Software 7.89 Infosys Technologies Ltd. Software 5.15
ICICI Bank Ltd. Banks 7.18 Tata Consultancy Services Ltd. Software 4.48
Infosys Technologies Ltd. Software 6.57 Sun Pharmaceutical Industries Ltd. Pharmaceuticals 4.39
State Bank of India Banks 5.71 State Bank of India Banks 4.19
Reliance Industries Ltd. Petroleum Products 3.52 Crompton Greaves Ltd. Industrial Capital Goods 4.09
Bharti Airtel Ltd. Telecom - Services 3.45 ICICI Bank Ltd. Banks 3.85
Dr. Reddy’s Laboratories Ltd. Pharmaceuticals 3.16 Bharti Airtel Ltd. Telecom - Services 3.43
IPCA Laboratories Ltd. Pharmaceuticals 3.12 Bank of Baroda Banks 3.12
Carborundum Universal Ltd. Industrial Products 3.03 Axis Bank Ltd. Banks 3.11
Exide Industries Ltd. Auto Ancillaries 3.02 NTPC Ltd. Power 2.97
Credit Exposure Cash margin 0.12
Other Cash, Cash Equivalents and Net Current Assets 11.00
Total Credit Exposure 0.14
Grand Total 100.00
Cash, Cash Equivalents and Net Current Assets 2.42
Grand Total 100.00
Net Assets ( ` In Lakhs) 92,540.36 Portfolio Turnover Ratio (Last 1 Year) 30.56%
Portfolio Turnover Ratio (Last 1 Year) 15.73% Please refer to page no 31 for details on the Rating Methodology
Total outstanding position (as at January 31,2011) in Derivative Instruments
+ Industry Classification as recommended by AMFI (Short Rural Electrification Corporation Ltd. NSE Stock Futures February 2011)
(Gross Notional) ` 424.9 lakhs.

Industry Allocation of Equity Holding (% of Net Assets) Banks 16.16 Industrial Products 2.68
Software 14.46 Oil 4.23 Pharmaceuticals 11.63 Finance 2.22
Software 9.63 Transportation 1.69
Banks 12.89 Telecom - Services 3.45 Industrial Capital Goods 8.83 Gas 1.49
Pharmaceuticals 10.93 Consumer Durables 2.95 Consumer Non Durables 6.19 Chemicals 0.91
Auto Ancillaries 7.19 Industrial Capital Goods 2.82 Power 4.44 Consumer Durables 0.66
Industrial Products 6.84 Chemicals 2.74 Oil 4.37 Construction 0.65
Construction Project 6.34 Finance 2.72 Auto Ancillaries 3.80 Paper Products 0.59
Telecom - Services 3.43 Minerals/Mining 0.55
Consumer Non Durables 5.79 Ferrous Metals 1.53 Media & Entertainment 3.17 Trading 0.16
Auto 5.30 Media & Entertainment 1.11 Petroleum Products 2.81 Engineering Services 0.06
Petroleum Products 5.14 Pesticides 1.01 Construction Project 2.71 Engineering 0.05
Risk Ratio (for the 3-yr period ended January 31, 2011) 9.00% 92.70% -0.01 Risk Ratio (for the 3-yr period ended January 31, 2011) 9.00% 88.30% 0.02


HDFC Arbitrage Fund

RETAIL & WHOLESALE PLAN
HYBRID - ARBITRAGE CATEGORY
(14 schemes) for 18 month
period ending January 31, 2011
Dividend History ^
An open-ended equity fund HDFC Growth Fund (Past 3 years) Dividend Option
Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
NAV (as at January 31, 2011) NAV per Unit (`) Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Retail Plan Dec 27, 07 42.928 4.00 4.00 Feb 25, 10 30.043 2.75 2.75
Growth Option 12.324 Feb 26, 09 17.949 2.25 2.25
Dividend Option (Erstwhile Monthly Dividend Option) 10.071
Quarterly Dividend Option 10.498 HDFC Equity Fund (Past 3 years) Dividend Option
Wholesale Plan Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Growth Option 12.425 Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Dividend Option (Erstwhile Monthly Dividend Option) 10.073 Mar 07, 08 45.447 5.50 5.50 Mar 25, 10 46.947 4.00 4.00
Quarterly Dividend Option 10.354 Mar 19, 09 23.253 3.00 3.00
Relative Performance ^ (Growth Option) HDFC Top 200 Fund (Past 3 years) Dividend Option
Date Period NAV Returns Benchmark Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Feb 07, 08 48.129 5.00 5.00 Mar 11, 10 46.578 4.00 4.00
Retail Plan Mar 05, 09 23.364 3.00 3.00
Jul 30, 10 Last Six months (185 days) 11.827 4.20 3.34
Jan 29, 10 Last 1 Year (367 days) 11.554 6.63 5.49 HDFC Capital Builder Fund (Past 3 years) Dividend Option
Oct 23, 07 Since Inception (1196 days) 10.000 6.58 6.18 Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Wholesale Plan
Feb 07, 08 30.891 3.50 3.50 Feb 25, 10 23.986 2.25 2.25
Mar 05, 09 12.936 2.00 2.00
Jan 29, 10 Last 1 Year (367 days) 11.620 6.89 5.49
Jan 31, 08 Last 3 Years (1096 days) 10.271 6.55 6.17 HDFC Core & Satellite Fund HDFC Premier Multi-Cap Fund
Oct 23, 07 Since Inception (1196 days) 10.000 6.85 6.18 Dividend Option (Past 3 years)
(Past 3 years) Dividend Option
^Past performance may or may not be sustained in the future Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are Jan 10, 08 28.229 3.00 3.00 Feb 21, 08 17.516 2.00 2.00
compounded annualized (CAGR). #CRISIL Liquid Fund Index Feb 18, 10 23.197 4.00 4.00 Feb 11, 10 16.802 3.00 3.00
Company / Issuer Industry+ / Rating % to NAV HDFC Arbitrage Fund
Dividend Option (erstwhile Monthly Dividend Option) (Past 3 quarters)
EQUITY & EQUITY RELATED (Quantity fully hedged using futures / options)
Indian Hotels Company Ltd. Hotels 3.60 Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
JSW Steel Ltd. Ferrous Metals 3.43 Retail Plan Wholesale Pkan
Pantaloon Retail (India) Ltd. Retailing 3.30 Dec 27, 10 10.6290 0.6290 0.6290 Sep 27, 10 10.3470 0.3470 0.3470
ICICI Bank Ltd. Banks 3.09 Dec 27, 10 10.2390 0.2390 0.2390
Power Grid Corporation of India Ltd. Power 2.99 Quarterly (Dividend Option) (Past 3 years)
Century Textiles & Industries Ltd. Cement 2.97 Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Sterlite Industries (India) Ltd. Non - Ferrous Metals 2.50 Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Divis Laboratories Ltd. Pharmaceuticals 2.45 Retail Plan Wholesale Plan
Dec 26, 08 10.2890 0.2890 0.2890 Dec 26, 08 10.2950 0.2950 0.2950
Balrampur Chini Mills Ltd. Consumer Non Durables 2.32
Mar 25, 09 10.1120 0.1120 0.1120 Mar 25, 09 10.1190 0.1190 0.1190
PRAJ Industries Ltd. Industrial Capital Goods 2.22 Dec 27, 10 10.9930 0.5690 0.5690 Jun 25, 10 10.5620 0.2830 0.2830
Total of Top Ten Equity Holdings 28.87 Sep 27, 10 10.4930 0.2140 0.2140
Total Equity & Equity Related Holdings 68.83 Dec 27, 10 10.5250 0.2460 0.2460
Money Market Instruments
Bank of India P1+ 4.93 HDFC Balanced Fund (Past 3 years) Dividend Option
Axis Bank Ltd. P1+ 4.92 Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Total Money Market Instruments 9.85 Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Short Term Deposits as margin for Futures & Options 20.81 Dec 27, 07 22.744 2.50 2.50 Mar 04, 10 20.455 2.25 2.25
Other Cash, Cash Equivalents and Net Current Assets 0.51 Feb 26, 09 12.326 1.50 1.50
Grand Total 100.00
HDFC Prudence Fund (Past 3 years) Dividend Option
Record Date NAV per Unit (`) Dividend Record Cum Div Dividend Per unit (`) For
Portfolio Turnover Ratio (Last 1 Year) 99.99% Cum Dividend Per Unit (`) Date NAV (`) Individuals & HUF Others
+ Industry Classification as recommended by AMFI Feb 21, 08 33.503 5.00 5.00 Mar 18, 10 31.238 3.50 3.50
✤ Past performance is no guarantee of future results. Mar 19, 09 17.393 2.50 2.50
HDFC Long Term Advantage Fund (Past 3 years) Dividend Option
Industry Allocation of Equity Holding (% of Net Assets) (An open-ended equity linked savings scheme with a lock-in period of 3 years)
Consumer Non Durables 6.85 Construction Project 1.67 Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Banks 6.73 Finance 1.48 Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Cement 5.51 Transportation 1.46 Jan 10, 08 56.171 6.00 6.00 Feb 11, 10 36.565 3.75 3.75
Ferrous Metals 5.11 Telecom - Equipment & Accessories 1.39 Feb 26, 09 21.698 3.50 3.50
Pharmaceuticals 4.99 Software 1.35
Hotels 3.60 Media & Entertainment 1.26 HDFC TaxSaver (Past 3 years) Dividend Option
Construction 3.54 Chemicals 1.25 (An open-ended equity linked savings scheme with a lock-in period of 3 years)
Power 3.52 Oil 1.24 Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Retailing 3.30 Textile Products 1.10 Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Petroleum Products 3.06 Hardware 0.87 Mar 07, 08 66.092 8.00 8.00 Mar 04, 10 61.914 6.00 6.00
Industrial Capital Goods 2.70 Agro-Tea & Sugar 0.78 Mar 05, 09 31.155 5.00 5.00
Telecom - Services 2.55 Fertilisers 0.74 ^ Past performance may or may not be sustained in the future.
Non - Ferrous Metals 2.50 Solvent Extraction 0.28 All dividends are on face value of ` 10 per Unit. After payment of the dividend, the per Unit NAV falls to the
extent of the payout and statutory levy, if any.

hdfc-sip.qxd 2/8/2011 5:44 PM Page 1
Benefits of Systematic Investment Plan (SIP)

The Terms & Conditions of the SIP facility have been revamped effective September 1, HDFC PRUDENCE FUND
2004 and January 3, 2005 and it is now more flexible and convenient for investors. SIP Investments Since 5 Year 3 Year 1 Year
To illustrate the advantages of SIP investments, this is how your investments would Inception SIP SIP SIP SIP
have grown if you had invested say ` 1,000 systematically on the first Business Day Total Amount Invested (` ‘000) 204.00 60.00 36.00 12.00
of every month over a period of time. Mkt Value as on January 31, 2011 (` ‘000) 2,233.66 98.96 54.03 12.48
Returns (Annualised)* (%) $$ 24.47 20.10 28.22 7.52
HDFC GROWTH FUND Benchmark Returns (Annualised) (%) # N.A. 10.13 12.45 2.61
SIP Investments Since 5 Year 3 Year 1 Year
Past performance may or may not be sustained in the future. N.A. Not Available
Inception SIP SIP SIP SIP # CRISIL Balanced Fund Index Inception Date: February 01, 1994
Total Amount Invested (` ‘000) 125.00 60.00 36.00 12.00
HDFC CHILDREN’S GIFT FUND - INVESTMENT PLAN
Mkt Value as on January 31, 2011 (` ‘000) 578.65 92.73 50.03 12.34
Returns (Annualised)* (%) 27.54 17.43 22.57 5.27 SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP
Benchmark Returns (Annualised) (%) # 19.19 10.67 15.46 1.36 Total Amount Invested (` ‘000) 119.00 60.00 36.00 12.00
Past performance may or may not be sustained in the future. Mkt Value as on January 31, 2011 (` ‘000) 308.18 90.73 52.21 12.80
# SENSEX Inception Date: September 11, 2000 Returns (Annualised)* (%) 18.26 16.54 25.68 12.52
Benchmark Returns (Annualised) (%) # N.A. 10.13 12.45 2.61
HDFC EQUITY FUND
Past performance may or may not be sustained in the future. N.A. Not Available
SIP Investments Since 5 Year 3 Year 1 Year # CRISIL Balanced Fund Index Inception Date: March 02, 2001
Inception SIP SIP SIP SIP
HDFC CHILDREN’S GIFT FUND - SAVINGS PLAN
Mkt Value as on January 31, 2011 (` ‘000) 2,909.36 101.71 56.38 12.58 SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP
Returns (Annualised)* (%) 29.33 21.23 31.39 9.06 Total Amount Invested (` ‘000) 119.00 60.00 36.00 12.00
Benchmark Returns (Annualised) (%) # 15.55 10.36 15.46 -4.33 Mkt Value as on January 31, 2011 (` ‘000) 204.14 78.75 43.52 12.48
Past performance may or may not be sustained in the future. Returns (Annualised)* (%) 10.49 10.81 12.71 7.44
# S&P CNX 500 (Please refer to page no 31) Inception Date: January 01, 1995 Benchmark Returns (Annualised) (%) # N.A. 7.05 7.10 3.57
HDFC TOP 200 FUND Past performance may or may not be sustained in the future. N.A. Not Available
# CRISIL MIP Blended Index Inception Date: March 02, 2001
Inception SIP SIP SIP SIP HDFC LONG TERM ADVANTAGE FUND
Total Amount Invested (` ‘000) 172.00 60.00 36.00 12.00 SIP Investments Since 5 Year 3 Year 1 Year
Mkt Value as on January 31, 2011 (` ‘000) 1,535.92 97.93 52.42 12.40 Inception SIP SIP SIP SIP
Returns (Annualised)* (%) $$ 27.20 19.67 25.98 6.14 Total Amount Invested (` ‘000) 121.00 60.00 36.00 12.00
Benchmark Returns (Annualised) (%) # 17.06 11.21 16.32 -2.67 Mkt Value as on January 31, 2011 (` ‘000) 560.97 86.06 50.90 12.36
Past performance may or may not be sustained in the future. Returns (Annualised)* (%) 28.59 14.40 23.83 5.57
# BSE 200 Inception Date: October 11, 1996 Benchmark Returns (Annualised) (%) # 19.54 10.67 15.46 1.36
Past performance may or may not be sustained in the future.
HDFC CAPITAL BUILDER FUND # SENSEX Inception Date: January 02, 2001
SIP Investments Since 5 Year 3 Year 1 Year HDFC TAXSAVER
Inception SIP SIP SIP SIP
Total Amount Invested (` ‘000) 204.00 60.00 36.00 12.00 Inception SIP SIP SIP SIP
Mkt Value as on January 31, 2011 (` ‘000) 1,533.47 91.79 52.16 12.24
Returns (Annualised)* (%) 20.84 17.02 25.61 3.77 Total Amount Invested (` ‘000) 178.00 60.00 36.00 12.00
Benchmark Returns (Annualised) (%) # 14.69 10.36 15.46 -4.33 Mkt Value as on January 31, 2011 (` ‘000) 2,818.00 91.64 53.35 12.26
Returns (Annualised)* (%) $$ 32.71 16.95 27.27 4.08
Past performance may or may not be sustained in the future. Benchmark Returns (Annualised) (%) # 16.47 10.36 15.46 -4.33
# S&P CNX 500 (Please refer to page no 31) Inception Date: February 01, 1994
# S&P CNX 500 (Please refer to page no 31) Inception Date: March 31, 1996
HDFC PREMIER MULTI-CAP FUND
SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP
HDFC MF MIP - SHORT TERM PLAN
SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP
Mkt Value as on January 31, 2011 (` ‘000) 113.81 89.54 52.20 12.19 Total Amount Invested (` ‘000) 86.00 60.00 36.00 12.00
Returns (Annualised)* (%) 16.54 16.01 25.67 2.89 Mkt Value as on January 31, 2011 (` ‘000) 112.39 72.13 40.77 12.16
Benchmark Returns (Annualised) (%) # 11.97 10.36 15.46 -4.33 Returns (Annualised)* (%) 7.34 7.29 8.25 2.47
Benchmark Returns (Annualised) (%) # 7.34 7.05 7.10 3.57
Past performance may or may not be sustained in the future. Past performance may or may not be sustained in the future.
# S&P CNX 500 (Please refer to page no 31) Inception Date: April 06, 2005 # CRISIL MIP Blended Index Inception Date: December 26, 2003
HDFC CORE & SATELLITE FUND HDFC MF MIP - LONG TERM PLAN
SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP SIP Investments Since Inception SIP 5 Year SIP 3 Year SIP 1 Year SIP
Total Amount Invested (` ‘000) 77.00 60.00 36.00 12.00 Total Amount Invested (` ‘000) 86.00 60.00 36.00 12.00
Mkt Value as on January 31, 2011 (` ‘000) 145.24 92.99 54.98 12.44 Mkt Value as on January 31, 2011 (` ‘000) 134.10 81.11 44.26 12.36
Returns (Annualised)* (%) 19.55 17.55 29.51 6.88 Returns (Annualised)* (%) 12.16 12.00 13.88 5.60
Benchmark Returns (Annualised) (%) # 14.21 11.21 16.32 -2.67 Benchmark Returns (Annualised) (%) # 7.34 7.05 7.10 3.57
# CRISIL MIP Blended Index Inception Date: December 26, 2003
# BSE 200 Inception Date: September 17, 2004
$$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are
HDFC BALANCED FUND assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV).
SIP Investments Since 5 Year 3 Year 1 Year * Load is not taken into consideration and the Returns are of Growth Option.
Inception SIP SIP SIP SIP Investors are advised to refer to the Relative Performance table furnished in this booklet for
non-SIP returns. Past performance may or may not be sustained in the future.
Disclaimer: The above investment simulation is for illustrative purposes only and should not be
Mkt Value as on January 31, 2011 (` ‘000) 365.16 92.01 51.05 12.37
construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is
Returns (Annualised)* (%) 19.44 17.11 24.04 5.76
not guaranteeing or promising or forecasting any returns. SIP does not assure a profit or guarantee
Benchmark Returns (Annualised) (%) # N.A. 10.13 12.45 2.61 protection against a loss in a declining market.
Past performance may or may not be sustained in the future. N.A. Not Available Please refer SIP Enrolment Form or contact nearest ISC for SIP Load Structure.
# CRISIL Balanced Fund Index Inception Date: September 11, 2000

hdfc-dt.qxd 2/8/2011 5:54 PM Page 1
HDFC MF MIP - HDFC MF MIP - HYBRID - DEBT-ORIENTED CONSERVATIVE
Short Term Plan Long Term Plan CATEGORY (46 schemes) for 3 & 5 year
An open-ended income scheme. Monthly income is not assured and is An open-ended income scheme. Monthly income is not assured and is
subject to availability of distributable surplus subject to availability of distributable surplus
Monthly Dividend Option 11.0846 Monthly Dividend Option 12.8279
Quarterly Dividend Option 11.3925 Quarterly Dividend Option 13.2099
Relative Performance^(Growth Option) Relative Performance^(Growth Option)

Dec 26, 03 Since Inception (2593 days) 10.0000 12.15 6.94
Dec 26, 03 Since Inception (2593 days) 10.0000 7.62 6.94
^Past Performance may or may not be sustained in the future
^Past Performance may or may not be sustained in the future Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are compounded annualized (CAGR). #Crisil MIP Blended Index
compounded annualized (CAGR). #Crisil MIP Blended Index
Company / Issuer Industry+ / Rating % to NAV
Company / Issuer Industry+ / Rating % to NAV EQUITY & EQUITY RELATED
EQUITY & EQUITY RELATED State Bank of India Banks 1.66
Coal India Ltd. Minerals/Mining 1.16 ICICI Bank Ltd. Banks 1.19
Petronet LNG Ltd. Gas 1.03 Coal India Ltd. Minerals/Mining 1.06
Sun Pharmaceutical Industries Ltd. Pharmaceuticals 0.99 Tata Consultancy Services Ltd. Software 0.97
Power Grid Corporation of India Ltd. Power 0.96 Bank of Baroda Banks 0.88
Larsen & Toubro Ltd. Construction Project 0.79 Infosys Technologies Ltd. Software 0.83
ICICI Bank Ltd. Banks 0.62 Titan Industries Ltd. Consumer Non Durables 0.80
Timken India Ltd. Auto Ancillaries 0.58 Oil & Natural Gas Corporation Ltd. Oil 0.77
Trent Ltd. Retailing 0.52 Tata Motors Ltd. DVR Auto 0.62
Punjab National Bank Banks 0.55
Bharat Petroleum Corporation Ltd. Petroleum Products 0.49
Government Securities, Money Market Instruments
& Other Credit Exposure
National Housing Bank AAA/AAA(ind) 7.85
Tata Motors Ltd. (Guaranteed by SBI) AAA(SO) 4.78
National Housing Bank AAA 3.63
M&M Financial Services Ltd. AA(ind) 4.72
Housing Development Finance Corporation Ltd. $ AAA 3.47
State Bank of Travancore P1+ 3.21
IDBI Bank Ltd. A1+/AA+ 3.98
Tata Motors Finance Ltd. AA- 3.74
Sundaram Finance Ltd. LAA+/P1+ 2.29
Union Bank of India A1+ 2.20
Housing Development Finance Corporation Ltd. $ AAA 3.54
State Bank of Bikaner & Jaipur P1+ 2.18
Tata Steel Ltd. AA 3.20 Total of Top Ten Government Securities,
Total of Top Money Market Instruments &
Other Credit Exposure
(aggregated holdings in a single issuer) 43.69 Total Government Securities,
Total Government Securities, Money Market Instruments & Other Credit Exposure 72.14
Money Market Instruments & Other Credit Exposure 81.31 Cash, Cash Equivalents and Net Current Assets 6.46
Cash, Cash Equivalents and Net Current Assets 3.63 Grand Total 100.00
Grand Total 100.00 Net Assets (` In Lakhs) 1,019,601.43
Average Maturity 2.24 years (other than equity investments)
Average Maturity 1.70 years (other than equity investments) Modified Duration 1.54 years (other than equity investments)
+ Industry Classification as recommended by AMFI, $ Sponsor
Modified Duration 1.28 years (other than equity investments)
+ Industry Classification as recommended by AMFI, Please refer to page no 31 for details on the Rating Methodology
$ Sponsor

HDFC Multiple HYBRID - DEBT-ORIENTED CONSERVATIVE

HDFC Multiple Yield HYBRID - DEBT-ORIENTED CONSERVATIVE
Yield Fund CATEGORY (46 schemes) for 3 & 5 year
periods ending January 31, 2011 Fund - Plan 2005 CATEGORY (46 schemes) for 3 & 5 year
An open-ended income scheme An open-ended income scheme

Date Period NAV Returns Benchmark per Unit ( `) (%)^ Returns (%)#
Jul 30, 10 Last Six months (185 days) 17.0984 1.84 2.02 Jan 29, 10 Last 1 Year (367 days) 14.6760 9.19 5.70
Jan 29, 10 Last 1 Year (367 days) 16.1095 8.05 5.70 Jan 31, 08 Last 3 Years (1096 days) 12.2170 9.47 5.69
Jan 31, 06 Last 5 Years (1826 days) 11.4870 8.67 7.33 Aug 17, 05 Since Inception (1993 days) 10.0000 9.03 7.59
Sep 17, 04 Since Inception (2327 days) 10.0000 9.09 7.87
^Past Performance may or may not be sustained in the future
^Past Performance may or may not be sustained in the future Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are compounded annualized (CAGR). #Crisil MIP Blended Index
compounded annualized (CAGR). #Crisil MIP Blended Index
EQUITY & EQUITY RELATED Clariant Chemicals (India) Ltd. Chemicals 1.00
Solar Industries India Ltd. Chemicals 2.42 IPCA Laboratories Ltd. Pharmaceuticals 0.87
The Federal Bank Ltd. Banks 2.39 Coal India Ltd. Minerals/Mining 0.86
Crisil Ltd. Finance 2.09 Savita Oil Technologies Ltd. Chemicals 0.82
3M India Ltd. Trading 1.91 Banco Products (India) Ltd. Auto Ancillaries 0.64
Biocon Ltd. Pharmaceuticals 1.76 Grindwell Norton Ltd. Industrial Products 0.63
Apollo Tyres Ltd. Auto Ancillaries 1.34 Vesuvius India Ltd. Industrial Products 0.60
Crompton Greaves Ltd. Industrial Capital Goods 1.28 Hawkins Cookers Ltd. Consumer Non Durables 0.57
Britannia Industries Ltd. Consumer Non Durables 1.24 VST Industries Ltd. Consumer Non Durables 0.56
Power Grid Corporation of India Ltd. Power 0.84 ICRA Ltd. Finance 0.51
Jagran Prakashan Ltd. Media & Entertainment 0.82
Debt / Money Market Instrument
M&M Financial Services Ltd. AA(ind) 14.09
Bank of India P1+ 18.54 ICICI Bank Ltd. A1+ 13.59
ICICI Bank Ltd. A1+ 17.59 State Bank of Patiala P1+ 12.06
National Housing Bank AAA 10.89 Shriram Transport Finance Co. Ltd. AA+(SO) 7.25
Small Industries Development Bank of India AAA 10.76 National Housing Bank AAA 7.15
M&M Financial Services Ltd. AA(ind) 10.73 Small Industries Development Bank of India AAA 7.06
State Bank of Patiala P1+ 6.18 State Bank of Travancore P1+ 4.18
State Bank of Travancore P1+ 3.18 Cholamandalam Investment and Finance Co. Ltd. A1+ 2.78
Shriram Transport Finance Co. Ltd. AA+(SO) 0.18 Tata Motors Limited (ABS Pool) AAA(SO) 2.65
Total Money Market Instruments Total of Top Ten Debt / Money Market Instrument 87.05
& Other Credit Exposure Total Debt / Money Market Instrument
Cash, Cash Equivalents and Net Current Assets 3.47 Cash, Cash Equivalents and Net Current Assets 3.61
Grand Total 100.00
Grand Total 100.00
Average Maturity 216 days (other than equity investments) Average Maturity 219 days (other than equity investments)
Modified Duration 195 days (other than equity investments) Modified Duration 175 days (other than equity investments)
+ Industry Classification as recommended by AMFI + Industry Classification as recommended by AMFI
✤ Past performance is no guarantee of future results. ✤ Past performance is no guarantee of future results.
Please refer to page no 31 for details on the Rating Methodology Please refer to page no 31 for details on the Rating Methodology

HDFC Income Fund HDFC High Interest Fund

Dividend Option 10.8894 Quarterly Dividend Option 11.1608
Half-Yearly Dividend Option 10.9117
Relative Performance^(Growth Option) Yearly Dividend Option 11.8332
Date Period NAV Returns Benchmark Relative Performance ^ (Growth Option)

per Unit ( `) (%)^ Returns (%)# Date Period NAV Returns Benchmark
Jul 30, 10 Last Six Months (185 days) 21.8649 2.31 1.81 per Unit ( `) (%)^ Returns (%)#
Jan 29, 10 Last 1 Year (367 days) 21.3730 4.64 4.29 Jul 30, 10 Last Six Months (185 days) 31.7751 2.24 1.81
Jan 31, 08 Last 3 Years (1096 days) 18.3290 6.86 5.42 Jan 29, 10 Last 1 Year (367 days) 31.0172 4.71 4.29
Sep 11, 00 Since Inception (3794 days) 10.0000 8.05 N.A. Jan 31, 06 Last 5 Years (1826 days) 23.7745 6.44 5.61
^Past Performance may or may not be sustained in the future Apr 28, 97 Since Inception (5026 days) 10.0000 8.93 N.A.
Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are ^Past Performance may or may not be sustained in the future
compounded annualized (CAGR). Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
# Crisil Composite Bond Fund Index N.A. Not Available Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are
compounded annualized (CAGR).
# Crisil Composite Bond Fund Index N.A. Not Available
Portfolio – Top Holdings (as at January 31, 2011)

Portfolio – Top Holdings (as at January 31, 2011)
Issuer Rating % to NAV
GOVERNMENT SECURITIES, MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE
GOVERNMENT SECURITIES, MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE
State Bank of India AAA 8.13
Punjab & Sind Bank A1+ 9.04
Punjab & Sind Bank A1+ 6.20
Canara Bank P1+ 8.58
Tata Motors Ltd. (Guaranteed by SBI) AAA(SO) 4.94
Andhra Bank F1+(IND) 4.44
Power Grid Corporation of India Ltd. AAA 3.12
Neyveli Lignite Corporation Ltd. AAA 3.07
NTPC Limited AAA 2.68
Power Finance Corporation Ltd. AAA 3.06
ICICI Home Finance Ltd LAAA 1.83
Total Government Securities, Money Market Instruments
Total Government Securities, Money Market Instruments
Grand Total 100.00
Grand Total 100.00
Average Maturity 6.62 years

Modified Duration 3.53 years Average Maturity 7.06 years
Modified Duration 4.17 years

HDFC Short HDFC High Interest Fund

Term Plan - Short Term Plan
Dividend Reinvestment Option 10.3285 Dividend Option 10.5793

Jul 30, 10 Last Six Months (185 days) 18.2988 2.11 2.29 Jul 30, 10 Last Six Months (185 days) 18.7318 1.81 2.29
Feb 28, 02 Since Inception (3259 days) 10.0000 7.25 N.A. Feb 06, 02 Since Inception (3281 days) 10.0000 7.45 N.A.
^Past Performance may or may not be sustained in the future ^Past Performance may or may not be sustained in the future
# Crisil Short Term Bond Fund Index N.A. Not Available # Crisil Short Term Bond Fund Index N.A. Not Available
Issuer Rating % to NAV Issuer Rating % to NAV
MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE
Bank of India P1+ 12.36 LIC Housing Finance Ltd. AAA 10.45
LIC Housing Finance Ltd. AAA 10.73 Tata Motors Finance Ltd. AA-/AA-(SO) 7.87
Tata Steel Ltd. AA 9.19 Magma Fincorp Ltd. (ABS Pool) AAA(SO) 7.17
Indian Railways Finance Corporation Ltd. AAA/AAA(Ind)(SO) 8.35 Sundaram Finance Ltd. LAA+ 7.02
Shriram Transport Finance Co. Ltd. AA+(SO) 6.78 Tata Sons Ltd. AAA 6.13
Cairn India Ltd. AAA 6.73 Cholamandalam Investment and Finance Co. Ltd. LAA- 5.55
State Bank of Mysore A1+ 6.39 Shriram Transport Finance Co. Ltd. AA(IND)/AA+(SO) 5.22
Sundaram Finance Ltd. LAA+ 6.07 Sundaram BNP Paribas Home Finance Ltd. AA+/LAA 4.02
Canara Bank P1+ 4.22 Deutsche Postbank Home Finance Ltd. LAA+ 3.95
Britannia Industries Ltd. AAA 4.02 Power Finance Corporation Ltd. AAA 3.93
Total of Top Ten Money Market Instruments Total of Top Ten Money Market Instruments &
& Other Credit Exposure Other Credit Exposure
Total Money Market Instruments & Other Credit Exposure 96.65 Total Money Market Instruments &
Cash, Cash Equivalents and Net Current Assets 3.35 Other Credit Exposure 94.88
Grand Total 100.00 Cash, Cash Equivalents and Net Current Assets 5.12
Net Assets (` In Lakhs) 108,857.62 Grand Total 100.00

Modified Duration 1.06 years
Modified Duration 325 days

HDFC Gilt Fund An open-ended income scheme
Short Term Plan Long Term Plan
Relative Performance^(Growth Option) Relative Performance^(Growth Option)

Jul 30, 10 Last Six Months (185 days) 16.0127 2.37 2.71 Jul 30, 10 Last Six Months (185 days) 19.0144 2.61 1.88
Jul 25, 01 Since Inception (3477 days) 10.0000 5.32 N.A. Jul 25, 01 Since Inception (3477 days) 10.0000 7.27 N.A.
^Past Performance may or may not be sustained in the future ^Past Performance may or may not be sustained in the future
#I-Sec Si-Bex N.A. Not Available #I-Sec Li-Bex N.A. Not Available
Portfolio – Top Holdings (as at January 31, 2011) Portfolio – Top Holdings (as at January 31, 2011)
Issuer Rating % to NAV Issuer Rating % to NAV
GOVERNMENT SECURITIES GOVERNMENT SECURITIES
6.49% GOI 2015 Sovereign 29.05 8.13% GOI 2022 Sovereign 12.49
Total Government Securities 78.66 8.26% GOI 2027 Sovereign 7.38
Cash, Cash Equivalents and Net Current Assets 21.34 7.17% GOI 2015 Sovereign 7.28
Grand Total 100.00 8.08% GOI 2022 Sovereign 5.99
Net Assets (` In Lakhs) 890.86 7.27% GOI 2013 Sovereign 2.09
Total Government Securities 61.06
Grand Total 100.00
Average Maturity 3.53 years Average Maturity 7.33 years
Modified Duration 2.81 years Modified Duration 3.93 years

hdfc-dt1.qxd 2/8/2011 5:55 PM Page 1
HDFC Floating WHOLESALE OPTION

DEBT: ULTRA SHORT TERM CATEGORY
HDFC Floating Rate DEBT: SHORT TERM CATEGORY
Rate Income Fund (125 schemes) for 18 month

period ending January 31, 2011 Income Fund (23 schemes) for 18 month period
ending January 31, 2011

Short Term Plan Long Term Plan
Retail Option
Dividend Reinvestment Option 10.1870
Daily Dividend Reinvestment Option 10.0809
Weekly Dividend Option 10.1501
Monthly Dividend Option 10.2174
Wholesale Option Relative Performance^(Growth Option)
Growth Option 16.5044 Date Period NAV Returns Benchmark
Daily Dividend Reinvestment Option 10.0809 per Unit ( `) (%)^ Returns (%)#
Monthly Dividend Option 10.2211 Jul 30, 10 Last Six Months (185 days) 16.0768 2.98 3.34
Jan 29, 10 Last 1 Year (367 days) 15.7203 5.29 5.49
Relative Performance^- Retail Option (Growth Option) Jan 31, 08 Last 3 Years (1096 days) 13.2366 7.74 6.17
Jan 16, 03 Since Inception (2937 days) 10.0104 6.45 5.66
Jul 30, 10 Last Six Months (185 days) 15.8182 3.24 3.34 Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
Jan 29, 10 Last 1 Year (367 days) 15.4594 5.60 5.49 Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are
Jan 31, 08 Last 3 Years (1096 days) 13.4765 6.61 6.17 compounded annualized (CAGR). #Crisil Liquid Fund Index
Jan 16, 03 Since Inception (2937 days) 10.0101 6.27 5.66 Portfolio – Top 10 Holdings (as at January 31, 2011)
^Past performance may or may not be sustained in the future Issuer Rating % to NAV
Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE
compounded annualized (CAGR). #Crisil Liquid Fund Index LIC Housing Finance Ltd. AAA 11.42
Portfolio – Top 10 Holdings (as at January 31, 2011) State Bank of Travancore P1+ 8.08
MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE
State Bank of Bikaner & Jaipur P1+ 4.90
Vijaya Bank PR1+ 4.85
HDFC Bank Ltd. - 5.33
Tata Capital Ltd. AA+ 4.74
Kotak Mahindra Bank Ltd. P1+ / - 5.33
IDBI Bank Ltd. A1+ 5.32 Tata Motors Finance Ltd. AA- 4.51
UCO Bank P1+ 5.16 Kotak Mahindra Bank Ltd. - 3.28
Vijaya Bank PR1+ 4.81 Small Industries Development Bank of India AAA 3.26
Syndicate Bank PR1+ 4.00 Total of Top Ten Money Market Instruments &
Central Bank of India PR1+ 2.73 Other Credit Exposure
Tata Capital Ltd. A1+ 2.68 (aggregated holdings in a single issuer) 58.48
Oriental Bank of Commerce P1+ 2.68 Total Money Market Instruments & Other Credit Exposure 98.11
Total of Top Ten Money Market Instruments Cash, Cash Equivalents and Net Current Assets 1.89
& Other Credit Exposure Grand Total 100.00
(aggregated holdings in a single issuer) 43.38 Net Assets (` In Lakhs) 151,078.80
Total Money Market Instruments &
Other Credit Exposure 63.34
Cash, Cash Equivalents and Net Current Assets 36.66 Average Maturity 189 days
Grand Total 100.00
Average Maturity 33 days Please refer to page no 31 for details on the Rating Methodology


PREMIUM PLAN LIQUID FUND &

HDFC - DEBT: LIQUID CATEGORY PREMIUM PLUS PLAN - DEBT: LIQUID HDFC Cash DEBT: LIQUID CATEGORY
(93 schemes) for 18 month period CATEGORY (93 schemes) for 18 month (93 schemes) for 18 month period
Liquid Fund ending January 31, 2011 period ending January 31, 2011 Management Fund ending January 31, 2011
An open-ended liquid income scheme Savings Plan

An open-ended high liquidity income scheme
HDFC Liquid Fund
Growth Option 19.1264 NAV (as at January 31, 2011) NAV per Unit (`)
Weekly Dividend Option 10.3257 Growth Option 20.2197
Monthly Dividend Option 10.3381 Daily Dividend Reinvestment Option 10.6364
HDFC Liquid Fund - Premium Plan Weekly Dividend Option 10.6315
Weekly Dividend Option 10.0471 Relative Performance^(Growth Option)
HDFC Liquid Fund - Premium Plus Plan Date Period NAV Returns Benchmark
Growth Option 19.4321 per Unit ( `) (%)^$$ Returns (%)#
Jan 24, 11 Last 7 days 20.1895 0.15 0.14
Relative Performance^(Growth Option) Jan 14, 11 Last 17 days 20.1464 0.36 0.35
Date Period NAV Returns Benchmark Dec 31, 10 Last 1 Month (31 days) 20.0875 0.66 0.63
per Unit ( `) (%)^ Returns (%)# Oct 29, 10 Last 3 Months (94 days) 19.8503 1.86 1.85
Jul 30, 10 Last 6 Months (185 days) 19.5644 3.35 3.34
Liquid Fund Jan 29, 10 Last 1 Year (367 days) 19.1161 5.74 5.49
Jan 24, 11 Last 7 days 19.0979 0.15 0.14 Jan 31, 08 Last 3 Years (1096 days) 16.6845 6.61 6.17
Jan 14, 11 Last 17 days 19.0577 0.36 0.35
Dec 31, 10 Last 1 Month (31 days) 19.0032 0.65 0.63 Jan 31, 06 Last 5 Years (1826 days) 14.4246 6.98 6.41
Oct 29, 10 Last 3 Months (94 days) 18.7857 1.81 1.85 Nov 18, 99 Since Inception (4092 days) 10.0000 6.51 N.A.
Jul 30, 10 Last 6 Months (185 days) 18.5229 3.26 3.34 ^Past performance may or may not be sustained in the future
Jan 29, 10 Last 1 Year (367 days) 18.1241 5.50 5.49 Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
Jan 31, 08 Last 3 Years (1096 days) 15.8704 6.41 6.17 Returns less than 1 year period are absolute. Returns equal to or greater than 1 year period are
Jan 31, 06 Last 5 Years (1826 days) 13.7559 6.81 6.41 compounded annualized (CAGR). #Crisil Liquid Fund Index
Oct 17, 00 Since Inception (3758 days) 10.0000 6.50 N.A. $$ 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
^Past performance may or may not be sustained in the future N.A. Not Available prevailing NAV (ex-dividend NAV). N.A. Not Available
compounded annualized (CAGR). # Crisil Liquid Fund Index
Portfolio – Top 10 Holdings (as at January 31, 2011) MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE
Issuer Rating % to NAV Punjab National Bank F1+(IND) 5.79
MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE Indian Oil Corporation Ltd P1+ 5.40
HDFC Bank Ltd. - 8.05 HDFC Bank Ltd. - 5.28
Indian Oil Corporation Ltd. P1+ 7.75 Canara Bank P1+ 3.77
State Bank of India P1+ 6.86 Bank of India P1+ 3.17
Canara Bank P1+ 3.67 Vijaya Bank PR1+ 2.13
Andhra Bank F1+(IND) 3.44 Oriental Bank of Commerce P1+ 2.11
Dena Bank P1+ 3.43 Allahabad Bank P1+ 2.11
Bank of India P1+ 2.60 State Bank of Bikaner & Jaipur P1+ 2.10
Punjab National Bank F1+(IND) 2.57
UCO Bank P1+ 2.49 Indian Overseas Bank A1+ 2.10
Hindustan Petroleum Corporation Ltd. P1+ 2.30 Total of Top Ten Money Market Instruments
Total of Top Ten Money Market Instruments & Other Credit Exposure
& Other Credit Exposure (aggregated holdings in a single issuer) 33.96
(aggregated holdings in a single issuer) 43.16 Total Money Market Instruments & Other Credit Exposure 53.95
Total Money Market Instruments & Cash, Cash Equivalents and Net Current Assets 46.05
Other Credit Exposure 70.85 Grand Total 100.00
Cash, Cash Equivalents and Net Current Assets 29.15 Net Assets (` In Lakhs) 468,698.65
Grand Total 100.00
Net Assets (` In Lakhs) 863,697.29 Average Maturity 27 days
Average Maturity 36 days Modified Duration 25 days

Modified Duration 33 days Please refer to page no 31 for details on the Rating Methodology

WHOLESALE OPTION
HDFC Cash DEBT: ULTRA SHORT TERM CATEGORY
(125 schemes) for 18 month HDFC Cash Management Fund
Management Fund period ending January 31, 2011
Treasury Advantage Plan Call Plan

An open-ended income scheme An open-ended high liquidity income scheme
Retail Option
Daily Dividend Reinvestment Option 10.0315 Daily Dividend Reinvestment Option 10.4266
Monthly Dividend Option 10.1247 Relative Performance^(Growth Option)
Wholesale Option Date Period NAV Returns Benchmark
Growth Option 21.2313 per Unit ( `) (%)^ Returns (%)#
Weekly Dividend Option 10.0365 Jan 24, 11 Last 7 days 15.9210 0.12 0.14
Monthly Dividend Option 10.1271 Jan 14, 11 Last 17 days 15.8948 0.28 0.35
Dec 31, 10 Last 1 Month (31 days) 15.8580 0.52 0.63
Relative Performance^- Retail Option (Growth Option) Oct 29, 10 Last 3 Months (94 days) 15.6905 1.59 1.85
Date Period NAV Returns Benchmark Jul 30, 10 Last 6 Months (185 days) 15.4917 2.89 3.34
per Unit ( `) (%)^ Returns (%)# Jan 29, 10 Last 1 Year (367 days) 15.1788 4.98 5.49
Jul 30, 10 Last Six Months (185 days) 20.3149 3.27 3.34 Jan 31, 06 Last 5 Years (1826 days) 11.9530 5.92 6.41
Jan 29, 10 Last 1 Year (367 days) 19.8432 5.69 5.49 Feb 06, 02 Since Inception (3281 days) 10.0000 5.32 N.A.
Jan 31, 06 Last 5 Years (1826 days) 15.0314 6.89 6.41 ^Past performance may or may not be sustained in the future N.A. Not Available
Nov 18, 99 Since Inception (4092 days) 10.0000 6.83 N.A. Performance of the Dividend Option for the investor would be net of Distribution Tax as applicable
^Past performance may or may not be sustained in the future N.A. Not Available compounded annualized (CAGR). #Crisil Liquid Fund Index
compounded annualized (CAGR). #Crisil Liquid Fund Index
Portfolio – Holdings (as at January 31, 2011)
Issuer % to NAV
Portfolio – Top 10 Holdings (as at January 31, 2011) Cash, Cash Equivalents and Net Current Assets 100.00
Issuer Rating % to NAV Grand Total 100.00
MONEY MARKET INSTRUMENTS & OTHER CREDIT EXPOSURE
Punjab National Bank F1+(ind) 8.63
Average Maturity 1 day
Vijaya Bank PR1+ 5.45 Modified Duration 1 day
HDFC Bank Ltd. - 5.36
Corporation Bank P1+ 3.61
Oriental Bank of Commerce P1+ 3.33
Andhra Bank F1+(ind) 2.85
Allahabad Bank P1+ 2.50
Indian Overseas Bank A1+ 2.50
Syndicate Bank PR1+ 2.47
Total of Top Ten Money Market Instruments
Total Money Market Instruments & Other Credit Exposure 68.06
Grand Total 100.00
Net Assets (` In Lakhs) 1,384,933.64
Average Maturity 39 days

Note for All Aforesaid Open-Ended Schemes (as at January 31, 2011)
i) Total NPAs provided for and its percentage to NAV : Nil
ii) Investment in ADR/GDR/Foreign Securities : Nil
iii) Total outstanding exposure in derivative instruments (Gross Notional) :
a) Equity
HDFC Growth Fund
(Short Biocon Ltd. NSE Stock Futures February 2011) ` 52.70 lakhs
HDFC Equity Fund
(Long Indian Oil Corporation Ltd. NSE Stock Futures February 2011) ` 84.49 lakhs
(Short Petronet LNG Ltd. NSE Stock Futures February 2011) ` 200.85 lakhs
(Long Sterlite Industries (India) Ltd. NSE Stock Futures February 2011) ` 568.80 lakhs
HDFC Top 200 Fund
(Long Hindalco Industries Ltd NSE Stock Futures February 2011) ` 658.66 lakhs
(Long Hindustan Petroleum Corp. Ltd. NSE Stock Futures February 2011) ` 126.63 lakhs
(Short Petronet LNG Ltd. NSE Stock Futures February 2011) ` 41.20 lakhs
(Long Reliance Industries Ltd. NSE Stock Futures February 2011) ` 925.75 lakhs
(Long Tata Steel Ltd. NSE Stock Futures February 2011) ` 337.69 lakhs
HDFC Index Fund (Nifty Plan)
(Long Nifty NSE February 2011 Futures) (Gross Notional) ` 356.27 lakhs
HDFC Prudence Fund
(Long Bharat Petroleum Corp. Ltd. NSE Stock Futures February 2011) ` 154.15 lakhs
HDFC TaxSaver
(Short Rural Electrification Corp. Ltd. NSE Stock Futures February 2011) ` 424.90 lakhs.
Total ` 3,932.09 lakhs
b) Debt : Interest Rates Swaps / Forward Rate Agreement : Nil

hdfc-div.qxd 2/8/2011 5:11 PM Page 1
Dividend History ^
HDFC Gilt Fund (Past 3 quarters) HDFC Short Term Plan

Short Term Plan (Dividend Option) Long Term Plan (Dividend Option) Dividend Reinvestment Option (Past 3 months)
Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (R`) For Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others
Jun 25, 10 10.7511 0.1000 0.0932 Jun 25, 10 10.5837 0.1000 0.0932 Nov 25, 10 10.3924 0.0661 0.0616 Jan 25, 11 10.3625 0.0398 0.0371
Sep 27, 10 10.6979 0.0500 0.0466 Sep 27, 10 10.5985 0.0500 0.0466
Dec 27, 10 10.8185 0.0500 0.0466 Dec 27, 10 10.6990 0.0500 0.0466
HDFC Floating Rate Income Fund
HDFC Floating Rate Income Fund Short Term Plan (Daily Dividend Reinvestment Option)* (Past 6 months)
Month Record Date Ex-dividend NAV per Unit (`) Aggregate Dividend Per Unit (`)
Short Term Plan (Weekly Dividend Option) (Past 6 months)
for the month Individuals & HUF Others
Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others Retail Option
Retail Option Wholesale Option August 2010 Daily 10.0809 0.0373 0.0349
Aug 02, 10 10.1453 0.0087 0.0081 Aug 02, 10 10.1461 0.0094 0.0088 September 2010 Daily 10.0809 0.0404 0.0376
October 2010 Daily 10.0809 0.0470 0.0439
Aug 09, 10 10.1453 0.0087 0.0082 Aug 09, 10 10.1460 0.0093 0.0087
November 2010 Daily 10.0809 0.0465 0.0435
Aug 16, 10 10.1456 0.0089 0.0083 Aug 16, 10 10.1463 0.0096 0.0089 December 2010 Daily 10.0809 0.0505 0.0468
Aug 23, 10 10.1459 0.0092 0.0086 Aug 23, 10 10.1466 0.0098 0.0092 January 2011 Daily 10.0809 0.0533 0.0495
Aug 30, 10 10.1450 0.0084 0.0079 Aug 30, 10 10.1458 0.0091 0.0085 Wholesale Option
Sep 06, 10 10.1455 0.0089 0.0083 Sep 06, 10 10.1463 0.0096 0.0089 August 2010 Daily 10.0809 0.0408 0.0376
Sep 13, 10 10.1458 0.0091 0.0085 Sep 13, 10 10.1466 0.0098 0.0092 September 2010 Daily 10.0809 0.0437 0.0405
Sep 20, 10 10.1464 0.0097 0.0090 Sep 20, 10 10.1471 0.0103 0.0096 October 2010 Daily 10.0809 0.0498 0.0467
Sep 27, 10 10.1467 0.0099 0.0093 Sep 27, 10 10.1475 0.0107 0.0099 November 2010 Daily 10.0809 0.0494 0.0462
December 2010 Daily 10.0809 0.0535 0.0496
Oct 04, 10 10.1468 0.0100 0.0093 Oct 04, 10 10.1476 0.0107 0.0100
January 2011 Daily 10.0809 0.0499 0.0466
Oct 11, 10 10.1475 0.0106 0.0099 Oct 11, 10 10.1482 0.0112 0.0105
Oct 18, 10 10.1473 0.0105 0.0098 Oct 18, 10 10.1481 0.0111 0.0104
Oct 25, 10 10.1474 0.0105 0.0098 Oct 25, 10 10.1482 0.0113 0.0105
HDFC Floating Rate Income Fund
Nov 01, 10 10.1481 0.0111 0.0104 Nov 01, 10 10.1489 0.0118 0.0110 Short Term Plan (Monthly Dividend Option) (Past 3 months)
Nov 08, 10 10.1479 0.0110 0.0102 Nov 08, 10 10.1487 0.0117 0.0109 Record Date Cum Dividend NAV (`) Dividend Per unit (`) For
Nov 15, 10 10.1481 0.0112 0.0104 Nov 15, 10 10.1488 0.0118 0.0110 Individuals & HUF Others
Nov 22, 10 10.1477 0.0108 0.0101 Nov 22, 10 10.1485 0.0115 0.0107
Retail Option
Nov 29, 10 10.1477 0.0109 0.0100 Nov 29, 10 10.1485 0.0115 0.0107 Nov 29, 10 10.2067 0.0550 0.0513
Dec 06, 10 10.1478 0.0109 0.0101 Dec 06, 10 10.1486 0.0116 0.0108 Dec 27, 10 10.1973 0.0468 0.0436
Dec 13, 10 10.1481 0.0111 0.0104 Dec 13, 10 10.1488 0.0118 0.0110 Jan 31, 11 10.2174 0.0644 0.0600
Dec 20, 10 10.1493 0.0122 0.0114 Dec 20, 10 10.1501 0.0129 0.0120 Wholesale Option
Dec 27, 10 10.1496 0.024 0.0116 Dec 27, 10 10.1504 0.0132 0.0123 Nov 29, 10 10.2106 0.0585 0.0545
Jan 03, 11 10.1496 0.0125 0.0116 Jan 03, 11 10.1504 0.0132 0.0123 Dec 27, 10 10.2005 0.0496 0.0462
Jan 10, 11 10.1500 0.0128 0.0119 Jan 10, 11 10.1508 0.0135 0.0126 Jan 31, 11 10.2211 0.0676 0.0630
Jan 17, 11 10.1502 0.0130 0.0121 Jan 17, 11 10.1508 0.0135 0.0126
Jan 24, 11 10.1502 0.0130 0.0121 Jan 24, 11 10.1509 0.0136 0.0127 HDFC Liquid Fund
Jan 31, 11 10.1501 0.0129 0.0120 Jan 31, 11 10.1508 0.0135 0.0126 Weekly Dividend Option (Past 6 months)
Long Term Plan (Weekly Dividend Reinvestment Option) (Past 6 months)
Aug 02, 10 10.3203 0.0078 0.0078 Nov 08, 10 10.3234 0.0103 0.0103
Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others Aug 09, 10 10.3204 0.0079 0.0079 Nov 15, 10 10.3230 0.0099 0.0099
Aug 16, 10 10.3209 0.0083 0.0083 Nov 22, 10 10.3230 0.0099 0.0099
Aug 09, 10 10.1741 0.0028 0.0026 Nov 08, 10 10.1905 0.0172 0.0160 Aug 23, 10 10.3211 0.0085 0.0085 Nov 29, 10 10.3232 0.0101 0.0101
Aug 16, 10 10.1722 0.0011 0.0011 Nov 15, 10 10.1782 0.0064 0.0060 Aug 30, 10 10.3203 0.0078 0.0078 Dec 06, 10 10.3228 0.0098 0.0098
Aug 23, 10 10.1750 0.0036 0.0033 Nov 22, 10 10.1839 0.0115 0.0107 Sep 06, 10 10.3202 0.0078 0.0078 Dec 13, 10 10.3230 0.0099 0.0099
Aug 30, 10 10.1875 0.0146 0.0136 Nov 29, 10 10.1771 0.0055 0.0051 Sep 13, 10 10.3209 0.0083 0.0083 Dec 20, 10 10.3239 0.0107 0.0107
Sep 06, 10 10.1866 0.0138 0.0128 Dec 13, 10 10.1758 0.0043 0.0040 Sep 20, 10 10.3212 0.0085 0.0085 Dec 27, 10 10.3244 0.0110 0.0110
Sep 13, 10 10.1854 0.0127 0.0119 Dec 20, 10 10.1923 0.0188 0.0175 Sep 27, 10 10.3219 0.0091 0.0091 Jan 03, 11 10.3254 0.0118 0.0118
Sep 20, 10 10.1845 0.0119 0.0112 Dec 27, 10 10.1762 0.0047 0.0043 Oct 04, 10 10.3225 0.0096 0.0096 Jan 10, 11 10.3247 0.0113 0.0113
Sep 27, 10 10.1804 0.0083 0.0078 Jan 03, 11 10.1958 0.0219 0.0204 Oct 11, 10 10.3225 0.0096 0.0096 Jan 17, 11 10.3255 0.0119 0.0119
Oct 18, 10 10.3226 0.0096 0.0096 Jan 24, 11 10.3255 0.0119 0.0119
Oct 04, 10 10.1883 0.0153 0.0142 Jan 10, 11 10.1886 0.0156 0.0145
Oct 25, 10 10.3228 0.0098 0.0098 Jan 31, 11 10.3257 0.0121 0.0121
Oct 11, 10 10.1781 0.0063 0.0059 Jan 17, 11 10.1796 0.0076 0.0071
Nov 01, 10 10.3231 0.0100 0.0100
Oct 25, 10 10.1771 0.0054 0.0050 Jan 24, 11 10.1865 0.0137 0.0127
^ Past performance may or may not be sustained in the future.
Nov 01, 10 10.1832 0.0108 0.0101 Jan 31, 11 10.1870 0.0141 0.0132
All dividends are on face value of ` 10 per Unit. After payment of the dividend, the per Unit NAV falls
^ Past performance may or may not be sustained in the future. to the extent of the payout and statutory levy, if any.
All dividends are on face value of `10 per Unit. After payment of the dividend, the per Unit NAV falls * Please log on to www.hdfcfund.com for Record Date-wise listing of dividends declared
to the extent of the payout and statutory levy, if any.

Intouchmutually
Dividend History ^ January 2011 29
HDFC Cash Management Fund HDFC Cash Management Fund

Treasury Advantage Plan (Daily Dividend Reinvestment Option)* Savings Plan (Daily Dividend Reinvestment Option)* (Past 6 months)
(Past 6 months) Month Record Date Ex-dividend NAV per Unit (`) Aggregate Dividend Per Unit (`)
for the month Individuals & HUF Others August 2010 Daily 10.6364 0.0383 0.0383
September 2010 Daily 10.6364 0.0395 0.0395
Retail Option
October 2010 Daily 10.6364 0.0455 0.0455
August 2010 Daily 10.0315 0.0383 0.0355 November 2010 Daily 10.6364 0.0460 0.0460
September 2010 Daily 10.0315 0.0404 0.0375 December 2010 Daily 10.6364 0.0519 0.0519
October 2010 Daily 10.0315 0.0469 0.0438 January 2011 Daily 10.6364 0.0529 0.0529
November 2010 Daily 10.0315 0.0465 0.0434
December 2010 Daily 10.0315 0.0494 0.0461 Weekly Dividend Option (Past 6 months)
January 2011 Daily 10.0315 0.0543 0.0507 Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For
Wholesale Option
Aug 06, 10 10.6355 0.0084 0.0084 Nov 08, 10 10.6447 0.0157 0.0157
August 2010 Daily 10.0315 0.0402 0.0372
September 2010 Daily 10.0315 0.0422 0.0393 Aug 13, 10 10.6359 0.0088 0.0088 Nov 12, 10 10.6325 0.0061 0.0061
October 2010 Daily 10.0315 0.0485 0.0455 Aug 20, 10 10.6359 0.0088 0.0088 Nov 19, 10 10.6383 0.0106 0.0106
November 2010 Daily 10.0315 0.0481 0.0452 Aug 27, 10 10.6356 0.0085 0.0085 Nov 26, 10 10.6381 0.0105 0.0105
December 2010 Daily 10.0315 0.0513 0.0477 Sep 03, 10 10.6355 0.0084 0.0084 Dec 03, 10 10.6382 0.0106 0.0106
January 2011 Daily 10.0315 0.0562 0.0523 Sep 13, 10 10.6408 0.0126 0.0126 Dec 10, 10 10.6382 0.0106 0.0106
Sep 17, 10 10.6314 0.0052 0.0052 Dec 20, 10 10.6453 0.0161 0.0161
Weekly Dividend Option (Past 6 months) Sep 24, 10 10.6366 0.0093 0.0093 Dec 24, 10 10.6332 0.0067 0.0067
Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For Oct 01, 10 10.6374 0.0099 0.0099 Dec 31, 10 10.6400 0.0120 0.0120
Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others Oct 08, 10 10.6379 0.0103 0.0103 Jan 07, 11 10.6401 0.0121 0.0121
Retail Plan Wholesale Plan Oct 15, 10 10.6378 0.0102 0.0102 Jan 14, 11 10.6403 0.0122 0.0122
Aug 02, 10 10.0310 0.0088 0.0082 Aug 02, 10 10.0315 0.0092 0.0086 Oct 22, 10 10.6377 0.0102 0.0102 Jan 21, 11 10.6407 0.0125 0.0125
Aug 09, 10 10.0311 0.0089 0.0083 Aug 09, 10 10.0317 0.0094 0.0087 Oct 29, 10 10.6379 0.0103 0.0103 Jan 28, 11 10.6406 0.0125 0.0125
Aug 16, 10 10.0312 0.0089 0.0083 Aug 16, 10 10.0317 0.0094 0.0088
Aug 23, 10 10.0312 0.0089 0.0083 Aug 23, 10 10.0316 0.0093 0.0086 HDFC Cash Management Fund (Call Plan)
Aug 30, 10 10.0313 0.0090 0.0084 Aug 30, 10 10.0318 0.0095 0.0088
Daily Dividend Reinvestment Option* (Past 6 months)
Sep 06, 10 10.0309 0.0087 0.0081 Sep 06, 10 10.0314 0.0091 0.0085 Month Record Date Ex-dividend NAV per Unit (`) Aggregate Dividend Per Unit (`)
Sep 13, 10 10.0311 0.0089 0.0083 Sep 13, 10 10.0315 0.0093 0.0086 for the month Individuals & HUF Others
Sep 20, 10 10.0317 0.0094 0.0088 Sep 20, 10 10.0322 0.0099 0.0092 August 2010 Daily 10.4266 0.0330 0.0330
Sep 27, 10 10.0323 0.0100 0.0093 Sep 27, 10 10.0328 0.0104 0.0097 September 2010 Daily 10.4266 0.0339 0.0339
Oct 04, 10 10.0329 0.0105 0.0097 Oct 04, 10 10.0334 0.0109 0.0102 October 2010 Daily 10.4266 0.0400 0.0400
Oct 11, 10 10.0328 0.0103 0.0096 Oct 11, 10 10.0332 0.0107 0.0100 November 2010 Daily 10.4266 0.0410 0.0410
Oct 18, 10 10.0327 0.0103 0.0096 Oct 18, 10 10.0332 0.0107 0.0100 December 2010 Daily 10.4266 0.0439 0.0439
Oct 25, 10 10.0331 0.0106 0.0099 Oct 25, 10 10.0336 0.0110 0.0103 January 2011 Daily 10.4266 0.0405 0.0405
Nov 01, 10 10.0335 0.0110 0.0103 Nov 01, 10 10.0340 0.0114 0.0107
Nov 08, 10 10.0336 0.0111 0.0103 Nov 08, 10 10.0340 0.0114 0.0107 HDFC Liquid Fund
Nov 15, 10 10.0334 0.0109 0.0101 Nov 15, 10 10.0339 0.0113 0.0105 Daily Dividend Reinvestment Option* (Past 6 months)
Nov 22, 10 10.0334 0.0109 0.0102 Nov 22, 10 10.0339 0.0114 0.0106 Month Record Date Ex-dividend NAV per Unit (`) Aggregate Dividend Per Unit (`)
Nov 29, 10 10.0330 0.0106 0.0098 Nov 29, 10 10.0335 0.0110 0.0103 for the month Individuals & HUF Others
Dec 06, 10 10.0331 0.0106 0.0099 Dec 06, 10 10.0335 0.0110 0.0102
August 2010 Daily 10.1982 0.0356 0.0356
Dec 13, 10 10.0333 0.0108 0.0101 Dec 13, 10 10.0338 0.0113 0.0105 September 2010 Daily 10.1982 0.0363 0.0363
Dec 20, 10 10.0343 0.0117 0.0109 Dec 20, 10 10.0347 0.0120 0.0112 October 2010 Daily 10.1982 0.0430 0.0430
Dec 27, 10 10.0348 0.0122 0.0113 Dec 27, 10 10.0354 0.0127 0.0118 November 2010 Daily 10.1982 0.0426 0.0426
Jan 03, 11 10.0355 0.0128 0.0119 Jan 03, 11 10.0360 0.0132 0.0123 December 2010 Daily 10.1982 0.0482 0.0482
Jan 10, 11 10.0357 0.0129 0.0120 Jan 10, 11 10.0362 0.0133 0.0124 January 2011 Daily 10.1982 0.0500 0.0500
Jan 17, 11 10.0358 0.0130 0.0122 Jan 17, 11 10.0363 0.0135 0.0126
Jan 24, 11 10.0361 0.0133 0.0124 Jan 24, 11 10.0365 0.0136 0.0127
HDFC Liquid Fund
Jan 31, 11 10.0360 0.0132 0.0123 Jan 31, 11 10.0365 0.0136 0.0127 Monthly Dividend Option (Past 3 months)
Monthly Dividend Option (Past 3 months) Record Date Cum Dividend NAV (`) Dividend Per unit (`) For
Individuals & HUF Others
Record Cum Div Dividend Per unit (`) For
Date NAV (`) Individuals & HUF Others Nov 29, 10 10.3275 0.0505 0.0505
Dec 27, 10 10.3159 0.0414 0.0414
Retail Option Jan 31, 11 10.3381 0.0588 0.0588
Nov 29, 10 10.1123 0.0547 0.0510
Dec 27, 10 10.1018 0.0455 0.0424
Jan 31, 11 10.1247 0.0656 0.0611
HDFC Liquid Fund - Premium Plan
Daily Dividend Option* (Past 6 months)
Wholesale Option
Nov 29, 10 10.1147 0.0568 0.0530
Dec 27, 10 10.1037 0.0472 0.0440
Jan 31, 11 10.1271 0.0677 0.0631 August 2010 Daily 12.2598 0.0445 0.0445
September 2010 Daily 12.2598 0.0459 0.0459
^ Past performance may or may not be sustained in the future. October 2010 Daily 12.2598 0.0536 0.0536
to the extent of the payout and statutory levy, if any. November 2010 Daily 12.2598 0.0535 0.0535
* Please log on to www.hdfcfund.com for Record Date-wise listing of dividends declared December 2010 Daily 12.2598 0.0599 0.0599
January 2011 Daily 12.2598 0.0613 0.0613
to the extent of the payout and statutory levy, if any.
* Please log on to www.hdfcfund.com for Record Date-wise listing of dividends declared

Dividend History ^ Methodology

HDFC MF Monthly Income Plan (MIP) Value Research Ratings
(An open-ended income scheme. Monthly income is not assured and is
subject to availability of distributable surplus) Value Research Fund Ratings are a composite measure of historical risk-adjusted
returns. In the case of equity and hybrid funds this rating is based on the weighted aver-
Short Term Plan (Dividend Option) age monthly returns for the last 3 and 5-year periods. In the case of debt funds this rat-
Monthly Dividend Option Quarterly Dividend Option ing is based on the weighted average weekly returns for the last 18 months and 3-year
(Past 3 months) (Past 3 quarters) periods and in case of short-term debt funds – weekly returns for the last 18 months.
These ratings do not take into consideration any entry or exit load. Each category must
have a minimum of 10 funds for it to be rated. Effective, July 2008, an additional qual-
Nov 25, 10 11.3461 0.0500 0.0466 Jun 25, 10 11.6796 0.1500 0.1398 ifying criteria has been included, whereby a fund with less than ` 5 crore of average
Dec 27, 10 11.2948 0.0500 0.0466 Sep 27, 10 11.8628 0.1500 0.1398 AUM in the past six months will not be eligible for rating.
Jan 25, 11 11.1898 0.0500 0.0466 Dec 27, 10 11.6620 0.1500 0.1398 Five-stars indicate that a fund is in the top 10% of its category in terms of histori-
cal risk-adjusted returns. Four stars indicate that a fund is in the next 22.5%, middle
Long Term Plan Dividend Option 35% receive three stars, the next 22.5% are assigned two stars while the bottom 10%
receive one star. The number of schemes in each category is mentioned along side the
Monthly Dividend Option Quarterly Dividend Option categories name. Equity: Large Cap (35), Equity: Large & Mid Cap (57), Equity: Multi
(Past 3 months) (Past 3 quarters)
Cap (43), Equity: Mid & Small Cap (54) Equity: Tax Planning (28), Equity: Infrastructure
Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For (16), Hybrid: Equity-oriented (25), Hybrid: Debt-oriented Aggressive (11), Hybrid: Debt-
Date NAV (`) Individuals & HUF Others Date NAV (`) Individuals & HUF Others oriented Conservative (46), Hybrid: Arbitrage (14) Debt: Income (54), Debt: Gilt Medium
Nov 25, 10 13.1460 0.0600 0.0559 Jun 25, 10 13.2725 0.1800 0.1678 & Long Term (31), Debt: Gilt Short Term (10), Debt: Short Term (23), Debt: Ultra Short
Dec 27, 10 13.1352 0.0600 0.0559 Sep 27, 10 13.7528 0.1800 0.1678 Term (125), Debt: Liquid (93). These Fund Ratings are as on January 31, 2011.
Jan 25, 11 12.9642 0.0600 0.0559 Dec 27, 10 13.5900 0.1800 0.1678 The Value Research Ratings are published in Monthly Mutual Fund Performance
Report and Mutual Fund Insight. The Ratings are subject to change every month. The
HDFC Multiple Yield Fund (Past 3 years) Rating is based on primary data provided by respective funds, Value Research does not
guarantee the accuracy.
(Dividend Option)
Date
Dec 12, 07
NAV (`) Individuals & HUF Others
11.2528 1.0000 0.9307
Date
Feb 18, 10
NAV (`) Individuals & HUF Others
12.2853 1.5000 1.3961
# S&P CNX 500 / CNX MID CAP /
BSE SENSEX
HDFC Equity Fund, HDFC Capital Builder Fund, HDFC TaxSaver and HDFC Premier
HDFC Multiple Yield Fund - Plan 2005 (Past 3 years) Multi-Cap Fund benchmarked to S&P CNX 500 Index and HDFC Mid-Cap Opportunities
(Dividend Option) Fund benchmarked to CNX Midcap Index, are not sponsored, endorsed, sold or pro-
moted by India Index Services & Products Limited (IISL). IISL is not responsible for any
errors or omissions or the results obtained from the use of such index and in no event
Dec 12, 07 11.2388 1.0000 0.9307 Feb 18, 10 12.2283 1.5000 1.3961 shall IISL have any liability to any party for any damages of whatsoever nature (includ-
ing lost profits) resulted to such party due to purchase or sale or otherwise of such
product benchmarked to such index.
HDFC Income Fund “Standard & Poor’s® and “S&P® are trademarks of The McGraw-Hill Companies,
Dividend Option (Past 3 quarters) Inc. and have been licensed for use by India Index Services & Products Limited (IISL),
Record Date Cum Dividend NAV (`) Dividend Per unit (`) For which has sublicensed such marks to the HDFC Asset Management Company Limited.
Individuals & HUF Others The S&P CNX Nifty is not compiled, calculated or distributed by Standard & Poor’s and
Standard & Poor’s and IISL make no representation regarding the advisability of invest-
Jun 25, 10 11.0050 0.1500 0.1398 ing in products that utilize any such Index as a component. All rights in the SENSEX vest
Sep 27, 10 11.0293 0.1500 0.1398 in Bombay Stock Exchange Ltd. (“BSE”). BSE and SENSEX are trademarks of BSE and are
Dec 27, 10 10.9760 0.0500 0.0466 used by HDFC Asset Management Company Limited under license. BSE shall not be liable
in any manner whatsoever (including in negligence) for any loss arising to any person
HDFC High Interest Fund - Short Term Plan whosoever out of use of or reliance on the SENSEX by any person.
Dividend Option (Past 6 months)
Disclaimer:
Sep 13, 10 10.6323 0.0479 0.0446 Jan 10, 11 10.6332 0.0487 0.0454
The information contained herein should not be altered in any way, transmitted to,
Nov 10, 10 10.6440 0.0582 0.0542 copied or distributed, in part or in whole, to any other person or to the media or
reproduced in any form, without prior written consent of HDFC Asset Management
Company Limited (HDFC AMC) or the relevant owner of the intellectual property, as the
HDFC High Interest Fund case may be. All Intellectual property and intellectual property rights belong to the rel-
Quarterly (Dividend Option) Half-yearly (Dividend Option) evant owner of the intellectual property, and “Intouch Mutually” is a trademark of
HDFC AMC.
(Past 3 quarters) (Past 2 years)
Any information herein contained does not constitute and shall be deemed not to
Record Cum Div Dividend Per unit (`) For Record Cum Div Dividend Per unit (`) For constitute an advice, an offer to sell/ purchase or as an invitation or solicitation to do
so for any securities of any entity, and further, HDFC AMC / its subsidiaries / affiliates /
Jun 25, 10 11.2909 0.1500 0.1398 Mar 25, 09 11.2151 0.5500 0.5119 sponsors / trustee (HDFC AMC Group) or their officers, employees, personnel, directors
Sep 27, 10 11.2939 0.1500 0.1398 Sep 25, 09 11.0080 0.2000 0.1861 may be associated in a commercial, professional or personal capacity or may have a
Dec 27, 10 11.2524 0.0500 0.0466 Mar 25, 10 11.0599 0.2500 0.2327 commercial interest including as proprietary traders in or with the securities and/ or
Sep 27, 10 11.1614 0.3000 0.2796 companies or issues or matters as contained in this publication and such commercial
capacity or interest whether or not differing with or conflicting with this publication,
shall not make or render (HDFC AMC Group) liable in any manner whatsoever & (HDFC
Yearly (Dividend Option) (Past 3 years) AMC Group) or any of their officers, employees, personnel, directors shall not be liable
Record Date Cum Dividend NAV (`) Dividend Per unit (`) For for any loss, damage, liability whatsoever for any direct or indirect loss arising from the
Individuals & HUF Others use or access of any information that may be displayed in this publication from time to
time. Recipients of the information contained herein should exercise due care and cau-
Mar 25, 08 11.5996 0.7000 0.6515 tion and read the Scheme Information Document(s) and Statement of Additional
Mar 25, 09 11.8425 0.6500 0.6050 Information (including if necessary, obtaining the advice of tax / legal / accounting /
Mar 25, 10 11.8406 0.4500 0.4188 financial / other professionals) prior to taking of any decision, acting or omitting to act,
on the basis of the information contained herein. The printing and mailing cost of this
All dividends are on face value of ` 10 per Unit. After payment of the dividend, the per Unit NAV falls newsletter is charged to the respective schemes subject to Securities & Exchange Board
to the extent of the payout and statutory levy, if any. of India (Mutual Funds) Regulations, 1996.

hdfc-bk.qxd 2/8/2011 5:08 PM Page 2
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INVESTOR SERVICE CENTRES (ISCs)

ANDHRA PRADESH HDFC AMC Ltd., # 63, Upper Ground Floor, Opposite Bellary Gas Agency, Opposite Hari - Omm Bhawan, Barbil - 758 035.
HDFC AMC Ltd., 6-3-883/7, 2nd Floor, Saphire Square, Somajiguda, Anantapura Cross Road, Bellary - 583 103. Tel No: 09238106515 / 09238106525 Fax: (06767) 277565.
Hyderabad - 500 282. Tel: 040 - 2341 7401-05, Fax: 040 - 2341 7407. Tel: (08392) 276576 Fax: (08392) 276580. HDFC AMC Ltd., 2nd Floor, Vinayak 96, Janpath, Bhubaneshwar 751 001.
HDFC AMC Ltd., 18-2-299/B,1st Floor, SMR Building, Tirumala Bypass Road, HDFC AMC Ltd., 190/3, 1st Floor, S.V.C. Plaza, Opposite Mothi Talkies, Tel: 0674 - 645 0502, 645 1502, Telefax: 0674 - 253 1483.
Tirupati - 517501. Tel: 0877-2222871 & 72, Fax: 0877-2222689. Gandhi Circle, Davangere - 577 002. Tel No: (08192) 250 240 / 241 / 242 HDFC AMC Ltd., 1st Floor, Plot No. 2690 (P) Bajrakabati Road, Ranihat,
HDFC AMC Ltd., 2nd Floor, Centurion Bank Complex, Near Benz Circle, Fax: (08192) 250243. Cuttack – 753 001. Tel: (0671) 2323724/ 725 Fax: (0671) 2324741.
M. G. Road, Vijayawada - 520 010. Tel: No: (0866)-3988029. HDFC AMC Ltd., Plot # 8 & 73, 3rd Floor, Rajesh Building, Super Market, HDFC AMC Ltd., Praful Tower, 1st Floor, Panposh Road, Rourkela - 769 004.
HDFC AMC Ltd., Ground Floor, Saigopal Arcade, Opp Waltair Club, Main Road, Gulbarga - 585 101. Tel: (08472) 399910 Fax: (08472) 271041. Tel: (0661) 3988029,3982060/70 Fax: (0661) 3982068.
Waltair Main Road, Siripuram, Visakhapatnam - 530 003. HDFC AMC Ltd., No. 1, First Floor, Revankar Comforts, Vivekanand Road, HDFC AMC Ltd., Kadambari Complex, 1st Floor, Unit - 4, Nayapara, Golbazar,
Tel: 0891- 276 9636, Fax: 0891 - 255 0411. Court Circle, Hubli - 580 029. Tel: (0836) 4252 294 / 95 Fax: (0836) 4252 290. Sambalpur - 768 001. Tel No: (0663) 2400 323 / 339 Fax: (0663) 2400324.
HDFC AMC Ltd., #2-5-83/84, 1st floor, Mitra Lakshminarayana Arcade, HDFC AMC Ltd., # 493,1st Floor, 4th Cross, 2nd Main, Sampige Road, PONDICHERRY
Nakkala gutta, Hanmakonda, Warangal - 506002. Malleshwaram, Bangalore - 560003. Ph: 080- 30922750, Fax: 080 - 30922753. HDFC AMC Ltd., No.17, I Floor, Sree Velayudham Complex,
Tel: 0870-2566005/06, Fax: 0870-2566010. HDFC AMC Ltd., UG - II, 6 & 7, Upper Ground Floor, Maximus Commercial Near Indhira Gandhi Square, Natesan Nagar, Pondicherry - 605 005.
ASSAM Complex, Light House Hill Road, Opp. KMC, Mangalore - 575 001. Tel: (0413) 3043 293 / 500 / 600 Fax: (0413) 2206776.
HDFC AMC Ltd., Premises- 1C, 1st Floor, Ganpati Enclave, G.S.Road, Tel: 0824 428 5333 (B), 428 5337 (D) Fax: 0824 - 428 5336. PUNJAB
Guwahati -781 007. Tel: (0361)-2464759/60 Fax: (0361)-2464758. HDFC AMC Ltd., No. 2918, CH 51 / 1 B, 1st Floor, Patel Mansion, HDFC AMC Ltd., SCO-28, 1st Floor, Taneja Towers, District Shopping Complex,
BIHAR Kantharaj Urs Road, Saraswathipuram, Mysore - 570 009. Ranjit Avenue, Amritsar - 143 001.
HDFC AMC Ltd., Ishwari Complex, 1st Floor, Dr. Rajendra Prasad Road, Tel: (0821) 4000 530 Fax: (0821) 4000 535. Tel: (0183) 3988029 / 2570 Fax: (0183) 3982599.
Bhagalpur - 812 002. Tel No: (0641) 2300 390 Fax: (0641) 2300391. KERALA HDFC Asset Management Co Ltd., 1st Floor, S.C.O - 2909-2910,
HDFC AMC Ltd., C/o. Hera Enclave (adjacent to Sahara Unique Showroom), HDFC AMC Ltd., 3rd Floor, City Mall, Opposite YMCA, Kannur Road, Sector - 22-C Opposite- Hotel J W Marriot, Chandigarh - 160022.
Mezzanine Floor, New Dak Bungalow Road, Patna - 800 001. Calicut - 673 001. Tel: (0495) - 4099222 / 333, 3982310 Fax: (0495) - 3982330. Tel: 0172 - 262 3397, 262 4497, Fax: 0172 - 301 3839.
Tel: 0612 - 2230540. 3201439, 2200747, 9931770771 Fax: 0612 - 2200747. HDFC AMC Ltd., Second Floor, Down Town Complex , Near Koyili Hospital, HDFC AMC Ltd., 2nd Floor, Above ING Vysya Bank, Adjacent to Sekhon Grand
CHHATTISGARH Kannur - 670004. Tel: 0497-6450489, 2762045, 2762044, Fax: 0497-2762046. Hotel, Namdev Chowk, G T Road, Jalandhar City - 144 001.
HDFC AMC Ltd., Chawla Complex, Ground Floor, Near Vanijya Bhavan, HDFC AMC Ltd., Ground Floor, Cinema Cum Commercial Complex, Tel: (0181) 3988029 / 970 Fax: (0181) 3982966.
Devendra Nagar Road, Sai Nagar, Raipur . 492 001. Tel: 0077 - 14020167. Behind Ravipuram Bus Stop, M.G. Road, Kochi - 682 016. HDFC AMC Ltd., SCO 122, Feroze Gandhi Market, Ludhiana - 141 001.
DELHI Tel: 0484 - 235 7707 / 08, 324 3059, 235 8462. Telefax: 0484 - 235 8462. Tel: 0161 - 277 4321, 501 4321, Fax: 0161 - 301 3838.
HDFC AMC Ltd., GF - 2 & 3, Prakashdeep Building, 7,Tolstoy Marg, Connaught HDFC AMC Ltd., 1st Floor Sofia Complex, Near Andamukkam Bus Stand, RAJASTHAN
Place, New Delhi - 110 001. Tel: 011 - 6632 4000. Fax: 011 - 2335 1317. Beach Road, Kollam - 691001. Tel: 0474-2752070/71, Fax: 0474-2752073. HDFC AMC Ltd., Unit Nos. 72-75, 4th Floor, K C Complex, Daulatbagh Road,
HDFC AMC Ltd., 1st floor, Prakashdeep Building, 7, Tolstoy Marg, Connaught HDFC AMC Ltd., 1st Floor, Kaniamparambil Arcade, G S Junction, Shasthri Road, Ajmer. Tel: 0145 - 3099 000.
Place, New Delhi - 110 001. Tel: 011 - 6632 4000. Fax: 011 - 2335 1317. Kottayam - 686001. Tel: 0481-3018392/93/94/95, Fax: 0481-3018397. HDFC AMC Ltd., Moondhra Bhavan, 3 Ajmer Rd, Jaipur - 302 001.
GOA HDFC AMC Ltd., 14/868, Ground Floor, Sri Krishna Complex, Coimbatore Road, Tel: 0141 - 511 1125, 237 4968, Fax: 0141 - 511 1126.
HDFC AMC Ltd., Ground Floor, G3 & G4 Jivottam, Minguel Miranda Road, Palghat - 678 001. Tel: 0491 2548300. Fax: 0491 2548303. HDFC AMC Ltd., Gulab Singh Building, 11, Chopasani Road, Jodhpur - 342 003.
Off. Abade Faria Road, Margao - 403 601. HDFC AMC Ltd., 2nd Floor,E-Town Shopping, College Road, East Fort, Tel: (0291) - 510 1927, 510 1937. Fax: 0291 - 5105919
Tel: 0832 - 2737410 / 2737411,Fax: 0832-2736477. Thrissur - 680005. Tel: 0487-2441976, Fax: 0487-2441976. HDFC AMC Ltd., 1st Floor, Gowardhan Plaza, 25, Trench Colony, Opposite Lok
HDFC AMC Ltd., S1, Second Floor, Above Axis Bank, Edcon Centre, Angod, HDFC AMC Ltd., Ground Floor, Bhadra Tower, Cotton Hill Road, Vazhuthacaud, Kalamandal, Udaipur - 313 001. Tel: (0294) 3988029 Fax: (0294) 3982000.
Mapusa - 403 507, Bardez. Tel: 0832 - 2253 460 / 461, Fax: 0832 - 2253 465. Thycaud PO, Trivandrum - 695 014. TAMIL NADU
HDFC AMC Ltd., A3, First Floor, Krishna Building, Opp. Education Dept, Behind Tel: 0471 - 3983 730 / 731 / 732, Fax: 0471 - 3983 738. HDFC AMC Ltd., ITC Centre, 1st Floor, 760 Anna Salai, Chennai - 600 002.
Susheela Building, G.P. Road, Panaji - 403 001. MADHYA PRADESH Tel: 044 - 4397 9797, Fax: 044 - 2841 5855.
Tel: 0832 - 242 5609, 242 5610, Fax: 0832 - 242 5614. HDFC AMC Ltd.,1st Floor, Ranjeet Tower, 8, Zone-II, M.P. Nagar, HDFC AMC Ltd., 1st Floor, No1 Bhimsena Garden Street, Royapettah High Road,
HDFC AMC Ltd., 6, Ground Floor, Pereira Chambers, Padre Jose Vaz Road, Bhopal - 462 011.Tel: 0755 - 428 5385, 424 6995 Fax: 0755 - 405 8890. Mylapore, Chennai – 600 004. Tel: (044) 30913060 Fax: (044) 30913082.
Vasco - 403 802, Mormugao. Tel: 0832 - 2513 402 / 406, Fax: 0832 - 2513 448. HDFC AMC Ltd., First Floor, Alakhnanda Towers, HDFC AMC Ltd., 1371A, Ground Floor, Nadar Building Trichy Road,
GUJARAT Shrimant Madhav Rao Scindia Marg, City Centre, Gwalior - 474 001. Coimbatore - 641 018. Tel: 0422 - 439 1861 / 62 / 63, Fax: 0422 - 439 1714.
HDFC AMC Ltd., 2nd Floor, Megha House, Besides Gruh House, Tel: (0751) - 4066060, 3988029 Fax: (0751) - 3982803. HDFC AMC Ltd., Investor Service Centre No 127C/3 East Veli Street,
Mithakhali Six Roads, Ahmedabad - 380 009. HDFC AMC Ltd., 15/3, Sterling Arcade, Race Course Rd., Indore - 452 001. Madurai. Tel: 0452 - 3988029.
Tel: (B) 079 - 4005 0055/66 Telefax: 079 - 4005 0506. Tel: 0731 - 424 5434 / 35 (B) Fax: 0731 - 424 5436. HDFC AMC Ltd., First floor, Ram Complex, No. 454/3, Meyanoor Main Road,
HDFC AMC Ltd., Maruti Sharanam, No.117, 1st Floor, Anand-Vidhyanagar Road, HDFC AMC Ltd., First Floor, Muthye Udyog Bhawan,1039, Wright Town, Salem - 636 009. Tel : (0427) 3982680/700 Fax: (0427) 233361.
Opposite Nandbhumi Party Plot, Anand - 388 001. Opp. Telephone Exchange, Jabalpur - 482 002. HDFC AMC Ltd., No. 60, Sri Krishna Arcade, First Floor, Tennur High Road,
Tel : (02692) - 398200 Fax: (02692) - 398222. Tel: (0761) - 4049800, 3988029 Fax: (0761) - 4068814. Tennur, Trichy - 620 017. Tel: (0431) 3982830 Fax: (0431) 3982835.
HDFC AMC Ltd., 3rd Floor, Shreemangalam Complex, Above IDBI Bank Ltd., MAHARASHTRA UTTARANCHAL
Patel Society Road, Ward No. 1, Kasak Circle. HDFC AMC Ltd., Amar Arcade - II, Opp. Raja Peth Police Station, Raja Peth, HDFC AMC Ld., 76, Rajpur Road, Near RTO, Dehradun - 248 001.
Bharuch - 392012. Phone : 02642 227205. Fax : 02642 227206. Amravati - 444601. Tel: (0721) 2562112, 2562113. Tel: (0135) 3988029/ 7434 Fax: (0135) 3987444.
HDFC AMC Ltd., 2nd Floor, Gangotri Plaza, Opposite Daxinamurty School, HDFC AMC Ltd., 2nd Floor, Renuka Commercial Complex, Samarth Nagar, UTTAR PRADESH
Waghawadi Road, Bhavnagar - 364 001. Nirala Bazar,Nageshwar Wadi Road, Aurangabad - 431 001. HDFC AMC Ltd., B2, 1st Floor, 9/4, Shankar Point, Sanjay Place, Agra - 282 002.
Tel : (0278) - 3988029 Fax: (0278) - 3984039. Tel: (0240) - 3988029 Fax: (0240) - 3982068. Tel: (0562) 3984761-73 Fax: (0562) 3984777.
HDFC AMC Ltd., 1st Floor, B Wing, Katira Complex, RTO Circle, HDFC AMC Ltd.,** 1st Floor, Anant Kuti (Bibikar Bldg.), Manpada Road, HDFC AMC Ltd., 3/260 – A Arena Complex, Laxmibai Marg,Marris Road,
Bhuj - 370 001. Tel No: (02832) 223 223. Fax: (02832) 251 946. Opp. Municipal Corporation Bldg, Dombivli (E) - 421 201. Aligarh - 202001. Tel: (0571) – 2740770/771/772. Fax: (0571) – 2740772.
HDFC AMC Ltd., 2nd Floor, Keshav Complex, P N Marg, Opposite Dhanvantry, Tel: +91 (251) 286 1474, 286 1473. Fax: +91 (251) 286 1375 HDFC AMC Ltd., Agarwal Arcade, 4 Sardar Patel Marg, 3rd Floor,
Jamnagar - 361 001. Tel : (0288) - 3988029 Fax: (0288) - 3982426. HDFC AMC Ltd., 138, Ground Floor, Kavya Ratnavali Chowk, Omkareshwar Road, Allahabad – 211001. Tel: 0532 – 2561035/36/38.
HDFC AMC Ltd., 2nd Floor, Rajendra Estate, State Highway, Mehsana - 384 002. Jalgaon – 425 002. Tel: (0257) 3982100/ 01 Fax: (0257) 3982114. HDFC AMC Ltd., 146 Civil Lines, 1st Floor, Gupta Complex, Near Circuit House
Tel: 60006767 Fax: 02762 - 302020. HDFC AMC Ltd., Royal Prestige, C1/C9, 1st Floor, E - Ward, Sykes Extension, Chouraha, Bareilly - 243 001. Tel: (0581) 2510 749 / 759 Fax: (0581) 2510709.
HDFC AMC Ltd., 2nd Floor, Shiv Darshan,Dr Radha Krishnan Road, 5, Jagnath Rajarampuri Road, Kolhapur - 416 008. HDFC AMC Ltd., D-2, 1st Floor, Raj Nagar District Centre, Raj Nagar,
Plot Corner, Rajkot - 360 001. Tel: 0281 662 4881/82. Fax: 0281 662 4883. Tel : (0231) - 3988029 Fax: (0231) - 3982060. Ghaziabad - 201010. Tel No - 0120 - 3010635, Fax: 0120 - 3010636.
HDFC AMC Ltd., U1 - U3, Jolly Plaza, Opp Athwa Gate Police Station, Athwa HDFC AMC Ltd.,** Shop No. 3, Abhishek Building, Ground Floor, HDFC AMC Ltd., 1st Floor, 16/80 D, Behind SBI Main, Civil Lines,
Gate, Surat - 395 001. Tel: 0261 - 246 0082 / 83. Fax: 0261 - 246 0091. Next to Vijay Sales, S.V. Road, Andheri (W), Mumbai - 400 058. Kanpur - 208 001. Tel: 0512 - 233 1484-87, Fax: 0512 - 233 1487.
HDFC AMC Ltd., Upper Ground Floor, Gokulesh, R C Dutt Road, Tel: (022) 26285389, 26708239, 32157334/332 Fax: (022) 26241131. HDFC AMC Ltd., 4 Shahnajaf Road, Lucknow - 226 001.
Vadodara - 390 007. Tel: 0265 6621110, 6621120, Fax: 0265 6621150. HDFC AMC Ltd.,** Unit No. 101, First Floor,Landmark Building, 136 Hill Tel: 0522 - 220 7591, 220 0163, Fax: 0522 - 223 0408.
HDFC AMC Ltd., 5-B, 2nd Floor, Sapphire Building, Daulatnagar, Chala-Vapi Road, Road,Opp. St. Peters Church, Bandra (West), Mumbai - 400 050. HDFC AMC Ltd., 143/145/1 Ganpati Plaza, Ground Floor, Magal Pandey Road,
Vapi - 396 191. Tel No: (0260) 3983900 Fax: (0260) 3983908. Tel: (022) 26434760/1/2/3/4 Fax: (022) 26434768 Meerut – 250 005. Tel No: (0121) – 2602380/2601964. Fax: (0121) -2602380,
HARYANA HDFC AMC Ltd.,** Shop # 7, Abhilasha Building, Punjabi Lane, Borivali (W), HDFC AMC Ltd., Parsvnath Plaza-II, UGF Hall No.4, Delhi Road,
HDFC AMC. Ltd., TA - 12A, 15-18, Third Floor, Crown Plaza, Mumbai - 400 092. Tel: (022) 28952702 / 28901497 Fax: (022) 28949392. Moradabad - 244 001. Tel: (0591) 3988029 / 3982131 Fax: (0591) 3982137.
Sector 15A, Mathura Road, Faridabad - 121001. HDFC AMC Ltd., Mistry Bhavan, 1st Flr, 122, Backbay Reclamation, HDFC AMC Ltd., K-24/25, Premises No. 36 & 37, Pearl Plaza, Sector-18,
Tel : (0129) 2221 338 / 339 / 341 / 342 / 343 Fax: (0129) 2221 340. Dinsha Vachha Road, Churchgate, Mumbai - 400 020. Noida - 201 301. Tel: 0120-4325757, 0120-4325959 Fax: (0120) 3980610.
HDFC AMC Ltd., Premises 102, 1st Floor, Vipul Agora, MG Road, Tel: 022 - 6000 6767 Fax: 022 - 2282 1144. HDFC AMC Ltd., D-64/127, 4th Floor, Arihant Complex, Sigra,
Gurgaon - 122 002. Tel No: (0124) 2560 450 - 54 Fax: (0124) 2560455. HDFC AMC Ltd.,* Ramon House, 3rd Flr, H. T. Parekh Marg, 169, Varanasi - 221010. Tel: 9935177068, 9935147068.
HDFC AMC Ltd., 1175 B Royal 1, 1st Floor, Adjoining Gurudawara, G.T Road, Backbay Reclamation, Churchgate, Mumbai - 400 020. Tel: 022 - 6631 6333. WEST BENGAL
Panipat - 132 103. Tel: (0180) 3985400/ 01 Fax: (0180) 3985403. HDFC AMC Ltd.,** Shop No. 1 & 2, Ground Floor, Atlantic Tower, HDFC AMC Ltd., City Plaza, City Centre, 1st Floor, Durgapur - 713 216.
JAMMU & KASHMIR R B Mehta Road, Near Railway Station, Ghatkopar (East), Mumbai - 400 077. Tel: (0343) 3982150 Fax: (0343) 3982153.
HDFC AMC Ltd., Hall No-102 A/2, South Block, Bahu Plaza, Gandhi Nagar, Tel: (022) 25011507/0805/1664/2486 Fax: (022) 25116805. HDFC AMC Ltd., MS Towers, 2nd Floor, OT Road,
Jammu - 180 012. Tel: (0191)-2477911/12/13 (0191) 2474297/98/99. HDFC AMC Ltd., 106-110, Shriram Shyam Towers, 2nd Floor, Inda (Opposite Kharagpur College) Kharagpur - 721305.
JHARKHAND Next to NIT Building, Kingsway, Sadar, Nagpur - 440 001. Tel: (03222) 227627 / 227657 Ext: 101, Fax: (03222) 227683.
HDFC AMC Ltd., Vardhan Complex, 1st Floor, Opp. Sreeleathers Showroom, Bank Tel: 0712 - 663 0301 / 04, Fax: 0712 - 663 0302. HDFC AMC Ltd., Menaka Estate, 1st Floor, 3 Red Cross Place, Kolkata - 700 001.
More, Dhanbad - 826 001. Tel: (0326) 3205352, 2301756 Fax: (0326) 2300552. HDFC AMC Ltd., G-1 & G-2, Ground Floor, Suyojit Heights, Tel: 033 - 2242 7849/53/56/59. Fax: 033 - 2243 9582.
HDFC AMC Ltd., Gayatri Enclave, “K” Road, Bistupur, Jamshedpur - 831 001. Opp. Rajiv Gandhi Bhavan, Sharanpur Road, Nashik 422 002. HDFC AMC Ltd., Gitanjali Complex, 2nd Floor, Above Corporation Bank,
Tel: 0657 - 2426730. Telefax: 0657 - 3291826. Tel: 0253 - 661 1831/32 (B), 661 1835 (D) Fax: 0253 - 661 1836. Sevoke Road, Siliguri - 734 001. Tel: (0353) - 6453474 Fax: (0353) 2545270.
HDFC AMC Ltd., Pradhan Towers, 1st Floor, 5, Main Road, Ranchi - 834 001. HDFC AMC Ltd., Ground Floor, “City Mall”, Next to NIC (National Informatic
* This is not an Investor Service Centre for HDFC Mutual Fund. However, this is
Tel: (0651) 6003358 Fax: (0651) 3242077. Centre), University Circle, Ganeshkhind, Pune – 411007. Tel: 020 - 6607 3301,
KARNATAKA an Official Point of acceptance for acceptance of all on-going transactions from
Fax: 020 - 6607 3310.
Institutional Investors only i.e. broadly covering all entities other than resident /
HDFC AMC Ltd., No.114, 1st Floor, Prestige Towers, 99 & 100, Residency Road, HDFC AMC Ltd.,** Shop No. 21/22, Ground Floor, Rajdeep CHS,
Bangalore - 560 025. Tel: 080 - 6620 5300, Fax: 080 - 4112 5255. non-resident individuals. Institutional Investors are free to lodge their applications
Near Malhar Cinema, Gokhale Road, Thane (West) - 400 602.
at any other official point of acceptance also.
HDFC AMC Ltd., # 145,1st Floor, 60ft Road, 5th Block, Koramangala, Tel: (022) 67124172/73/74/75/76 Fax: (022) 67124177
Bangalore - 560034. Ph: 080-30922720, Fax: 080 - 30922728. HDFC AMC Ltd.,** BSE 1, Tech Building, 109, A Wing, 1st Floor, Opposite Vashi **Official points of acceptance of transactions for schemes of HDFC Mutual Fund
HDFC AMC Ltd., Premises No. 4830 / B, First Floor, Dr. Ambedkar Road, Railway Station, Sector 30, Vashi - 400 703. Tel: (022) - 39880299. except purchase transactions of Liquid Schemes / Plans viz. HDFC Liquid Fund,
Opp. Civil Medical College, Belgaum - 590 002. ORISSA HDFC Liquid Fund - Premium Plan and Premium Plus Plan and HDFC Cash
Tel No: (0831) 4206 915 / 916 / 918 Fax: (0831) 4206919. HDFC AMC Ltd., Sri Jagannath Complex, 1st Floor, Management Fund - Savings Plan & Call Plan.
Registered Office: Ramon House, 3rd Floor, H.T. Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai 400 020.
Risk Factors: Mutual Funds and securities investments are subject to market risks and there can be no assurance or guarantee that the Scheme’s objective will be achieved and the NAV of the Schemes may go up or down depending upon the
factors and forces affecting the securities market. Past performance of the Sponsors and their affiliates / AMC / Mutual Fund and its Scheme(s) do not indicate the future performance of the Scheme(s) of the Mutual Fund. Investors in the
Scheme(s) are not being offered any guaranteed/assured returns. The names of the Scheme(s) do not in any manner indicate either the quality of the Scheme(s) or their future prospects and returns. Please read the respective Scheme Information
Document(s) and Statement of Additional Information carefully before investing. Each investor should before investing in the Scheme(s) make his/her own investigation and seek appropriate professional advice. Applications would be accept-
ed at Investor Service Centres (ISCs) and on-going Redemptions (subject to completion of Lock-in-Period, if any) can be made at the ISCs on all Business Days. The AMC will calculate and publish NAVs on all Business Days. This monthly newslet-
ter contains unaudited figures. Statutory Details: HDFC Mutual Fund has been set up as a trust sponsored by Housing Development Finance Corporation Limited and Standard Life Investments Limited (liability restricted to their contribution of
` 1 lakh each to the corpus) with HDFC Trustee Company Limited as the Trustee (Trustee under the Indian Trusts Act, 1882) and with HDFC Asset Management Company Limited as the Investment Manager.
Published and printed by Shailendra Sharad Kalelkar for and on behalf of Business Standard Limited from H4, Paragon Condominium, Opposite Century Mills, P B Marg, Worli, Mumbai 400013, and
printed at Print House India Private Limited, 6, Datta Mandir Road, Bhandup (W), Mumbai 400 078. Editor: Rajiv Shirali.

hdfc-bk-ad.qxd 2/8/2011 5:08 PM Page 2
Intouchmutually, January 2011, RNI Regd. No. MAHENG/2003/10804

Vol. No. 8 Issue No. 7: January 2011

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Vol. No. 8 Issue No. 7: January 2011

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Vol. No. 8 Issue No. 7

Market Review - January 2011

Equity market update

A equity markets corrected in January with

Debt market update

D the debt markets moved higher. The yield on

2 January 2011 Intouchmutually

PINS AND NEEDLES

Intouchmutually January 2011 3

Features of our following schemes

Minimum Purchase : ` 5,000 and any amount thereafter.

Lock-in Period Nil Nil Nil Nil Nil Nil

4 January 2011 Intouchmutually

Features of our following schemes

Inception Date June 25, 07 July 17, 2002 March 2, 2001

Intouchmutually January 2011 5

Features of our following schemes

6 January 2011 Intouchmutually

Features of our following schemes

Lock-in Period Nil Nil Nil Nil

Intouchmutually January 2011 7

Features of our following schemes

8 January 2011 Intouchmutually

Features of our following schemes

HDFC Floating Rate Income Fund HDFC Gilt Fund

Inception Date January 16, 2003 July 25, 2001

Lock-in Period Nil Nil

Net Asset Value Every Business Day Every Business Day

Intouchmutually January 2011 9

HDFC EQUITY - MULTI CAP CATEGORY

An open-ended growth scheme An open-ended growth scheme

Relative Performance ^ (Growth Option) Relative Performance ^ (Growth Option)

10 January 2011 Intouchmutually

HDFC Top EQUITY - LARGE & MID CAP CATEGORY

Relative Performance ^ (Growth Option) Relative Performance ^ (Growth Option)

Industry Allocation of Equity Holding (% of Net Assets)

Intouchmutually January 2011 11

HDFC Core & HDFC Premier

Relative Performance ^ (Growth Option) Relative Performance ^ (Growth Option)

EQUITY & EQUITY RELATED EQUITY & EQUITY RELATED

Portfolio Turnover Ratio (Last 1 Year) 14.06%

Segmentwise Break-up of Equity Holding (% of Net Assets)

12 January 2011 Intouchmutually

Intouchmutually January 2011 13

EQUITY - LARGE CAP CATEGORY

An open-ended index linked scheme An open-ended index linked scheme

NIFTY Plan (Face Value per Unit: ` 10.326)

Portfolio Turnover Ratio (Last 1 Year) 256.57%

Industry Allocation of Equity Holding (% of Net Assets)

14 January 2011 Intouchmutually

An open-ended balanced scheme An open-ended balanced scheme

Relative Performance ^ (Growth Option) Relative Performance ^ (Growth Option)

Intouchmutually January 2011 15

HDFC Children’s HYBRID EQUITY - ORIENTED CATEGORY

Relative Performance ^ Relative Performance ^

16 January 2011 Intouchmutually

HDFC Long Term HDFC EQUITY - TAX PLANNING CATEGORY

Relative Performance ^ (Growth Option) Relative Performance ^ (Growth Option)

Industry Allocation of Equity Holding (% of Net Assets)

Source : CRISIL Fund Analyser Source : CRISIL Fund Analyser