HDFC Asset Management Company is changing the names and category of few of its mutual funds in abidance with a recent circular by Securities and Exchange Board of India (SEBI). This move is devised by the regulator, SEBI to make investing simple.

The new rule states that every mutual fund company can only have one mutual fund offering under each category.

HDFC Mutual Fund Name & Category Changes

Few HDFC Mutual Fund names are changing, few are being merged, and few funds are being recategorized.

HDFC Mutual Fund Renaming and Re-Categorization

This table contains the names of the HDFC Mutual Funds whose names and categories have changed :

Old Name New Name  Old Category  New Category
HDFC Balanced Fund Merged with HDFC Hybrid Equity Fund Hybrid-Equity Oriented
Hybrid-Aggressive
HDFC Banking and PSU Debt Fund HDFC Banking & PSU Debt Fund Debt-Short Term
Debt-Banking & PSU
HDFC Capital Builder Fund HDFC Capital Builder Value Fund Equity-Multi Cap Equity-Value
HDFC Cash Management Fund – Call Plan HDFC Overnight Fund Debt-Liquid
Debt-Overnight
HDFC Cash Management Fund – Savings Plan HDFC Money Market Fund Liquid-Liquid
Debt-Money Market
HDFC Cash Management Fund – Treasury Advantage HDFC Low Duration Debt-Ultra Short Term
Debt-Low Duration
HDFC Childrens Gift Fund Saving HDFC Children’s Fund Hybrid-Debt Oriented
Solution Oriented-Children’s
HDFC Core & Satellite Fund HDFC Focused 30 Fund Equity-Mid Cap
Equity-Focused
HDFC Corporate Debt Opportunities Fund HDFC Credit Risk Debt Fund Debt-Income
Debt-Credit Risk
HDFC Equity Savings Fund HDFC Equity Savings Fund Hybrid-Debt Oriented
Hybrid-Equity Savings
HDFC Floating Rate Income Fund – Long Term Fund Merged with HDFC Corporate Bond Fund Debt-Ultra Short Term Debt-Floater
HDFC Floating Rate Income Fund – Short Term Fund HDFC Floating Rate Debt Fund Debt-Ultra Short Term Debt-Floater
HDFC Gilt Fund – Long Term HDFC Gilt Fund Gilt-Long Term Debt-Gilt
HDFC Gilt Fund – Short Term Merged with HDFC Corporate Bond Fund Debt-Gilt Debt-Gilt
HDFC Gold Fund HDFC Gold Fund Gold-Fund of Funds
Others-FoF Domestic
HDFC Growth Fund HDFC Balanced Advantage Fund Equity-Multi Cap
Hybrid-Dynamic Asset Allocation
HDFC High Interest Fund HDFC Dynamic Debt Fund Debt-Short Term
Debt-Dynamic
HDFC High Interest Fund – Short Term Plan HDFC Medium Term Debt Fund Debt-Short Term
Debt-Medium Duration
HDFC Income Fund HDFC Income Fund Debt-Income
Debt-Medium to Long Duration
HDFC Index Fund – Nifty Plan HDFC Index Fund – NIFTY 50 Plan Equity-Index Equity-Index
HDFC Index Fund – Sensex Plus Plan Merged with HDFC Index Fund – SENSEX Plan Equity-Index Equity-Index
HDFC Large Cap Fund HDFC Growth Opportunities Fund Equity-Large Cap
Equity-Large & Mid Cap
HDFC Liquid Fund HDFC Liquid Fund Liquid-Liquid Debt-Liquid
HDFC Long Term Advantage Fund Closed Equity-Tax – ELSS Equity-ELSS
HDFC Medium Term Opportunities Fund HDFC Corporate Bond Fund Debt-Income
Debt-Corporate Bond
HDFC Mid-Cap Opportunities Fund HDFC Mid-Cap Opportunities Fund Equity-Diversified
Equity-Mid Cap
HDFC Monthly Income Plan – Long Term Plan HDFC Hybrid Debt Fund Debt-MIP
Hybrid-Conservative
HDFC Monthly Income Plan – Short Term Plan Merged with HDFC Hybrid Debt Fund Debt-MIP
Hybrid-Equity Savings
HDFC Multiple Yield Fund – Plan 2005 HDFC Multi-Asset Fund Debt-MIP
Hybrid-Multi Asset Allocation
HDFC Premier Multi – Cap Fund HDFC Hybrid Equity Fund Equity-Multi Cap
Hybrid-Aggressive
HDFC Prudence Fund Merged with HDFC Balanced Advantage Fund Hybrid-Equity Oriented
Hybrid-Aggressive
HDFC Retirement Savings Fund – Equity Plan HDFC Retirement Savings Fund – Equity Plan Equity-Tax – ELSS
Solution Oriented-Retirement
HDFC Retirement Savings Fund – Hybrid – Debt Plan HDFC Retirement Savings Fund – Hybrid – Debt Plan Hybrid-Debt Oriented
Solution Oriented-Retirement
HDFC Retirement Savings Fund – Hybrid – Equity Plan HDFC Retirement Savings Fund – Hybrid – Equity Plan Hybrid-Equity Oriented
Solution Oriented-Retirement
HDFC Short Term Opportunities Fund HDFC Short Term Debt Fund Debt-Short Term
Debt-Short Duration
HDFC Short Term Plan HDFC Short Term Plan Debt-Credit Opportunities
Debt-Short Duration
HDFC Taxsaver Fund HDFC TaxSaver Fund Equity-Tax – ELSS Equity-ELSS
HDFC Top 200 HDFC Top 100 Fund Equity-Large Cap
Equity-Large Cap

HDFC Mutual Funds Names and Categories That Did Not Change

Old Name  New Name  Old Category  New Category
HDFC Arbitrage Fund HDFC Arbitrage Fund Hybrid-Arbitrage
Hybrid-Arbitrage
HDFC Equity Fund HDFC Equity Fund Equity-Multi Cap
Equity-Multi Cap
HDFC Index Fund – Sensex Plan HDFC Index Fund – SENSEX Plan Equity-Index Equity-Index
HDFC Infrastructure Fund HDFC Infrastructure Fund Equity-Sector
Equity-Sectoral/Thematic
HDFC Small Cap Fund HDFC Small Cap Fund Equity-Small Cap
Equity-Small Cap

HDFC Mutual Fund Names Changed: What should Investors do?

If Mutual Fund Name & Category Has Changed

If there is a change in category, an investor might have to change his strategy of investment in these funds. These extreme changes are largely in equity mutual funds. Debt funds category names have changed too but there is not much difference in their investment style.

If an investor is confused, he should contact his mutual fund advisor for his advice on this issue.

If Mutual Funds Are Being Merged

If mutual funds are being merged, investors should not worry as the Asset Management company will take care of the merger. Since in the mergers, there is no real change in category, so investors need not make any changes to his investment strategy.

If Only Mutual Fund Name Has Changed

If only the name of the mutual fund scheme has changed, then there is no need to be concerned or do anything. Investors can simply continue investing as they already were.

Why are HDFC Mutual Fund Names and Categories Changing?

There are many mutual funds offered by different Asset Management Companies. Many of these are in effect duplicates of each other. Further, they also have names that might confuse and intimidate a new investor.

Keeping this in mind, the Securities Exchange Board of India has decided to recategorize mutual fund schemes. It has also made compulsory that each Asset Management Company can only have one mutual fund under each category.

Thus, all Asset Management Companies are renaming, recategorizing, and merging mutual funds to comply with this directives by the regulator.

To see the best mutual funds to invest from every category, see: The 30 Best Mutual Funds to Invest in 2018 – Groww 30.

Happy investing!

Disclaimer: the views expressed here are of the author and do not reflect those of Groww. 

 

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