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.
In this article
- HDFC Mutual Fund Name & Category Changes
- HDFC Mutual Funds Names and Categories That Did Not Change
- HDFC Mutual Fund Names Changed: What should Investors do?
- Why are HDFC Mutual Fund Names and Categories Changing?
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||
|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||
|HDFC Cash Management Fund – Savings Plan||HDFC Money Market Fund||Liquid-Liquid||
|HDFC Cash Management Fund – Treasury Advantage||HDFC Low Duration||Debt-Ultra Short Term||
|HDFC Childrens Gift Fund Saving||HDFC Children’s Fund||Hybrid-Debt Oriented||
|HDFC Core & Satellite Fund||HDFC Focused 30 Fund||Equity-Mid Cap||
|HDFC Corporate Debt Opportunities Fund||HDFC Credit Risk Debt Fund||Debt-Income||
|HDFC Equity Savings Fund||HDFC Equity Savings Fund||Hybrid-Debt Oriented||
|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||
|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||
|HDFC High Interest Fund – Short Term Plan||HDFC Medium Term Debt Fund||Debt-Short Term||
|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||
|HDFC Mid-Cap Opportunities Fund||HDFC Mid-Cap Opportunities Fund||Equity-Diversified||
|HDFC Monthly Income Plan – Long Term Plan||HDFC Hybrid Debt Fund||Debt-MIP||
|HDFC Monthly Income Plan – Short Term Plan||Merged with HDFC Hybrid Debt Fund||Debt-MIP||
|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||
|HDFC Prudence Fund||Merged with HDFC Balanced Advantage Fund||Hybrid-Equity Oriented||
|HDFC Retirement Savings Fund – Equity Plan||HDFC Retirement Savings Fund – Equity Plan||Equity-Tax – ELSS||
|HDFC Retirement Savings Fund – Hybrid – Debt Plan||HDFC Retirement Savings Fund – Hybrid – Debt Plan||Hybrid-Debt Oriented||
|HDFC Retirement Savings Fund – Hybrid – Equity Plan||HDFC Retirement Savings Fund – Hybrid – Equity Plan||Hybrid-Equity Oriented||
|HDFC Short Term Opportunities Fund||HDFC Short Term Debt Fund||Debt-Short Term||
|HDFC Short Term Plan||HDFC Short Term Plan||Debt-Credit Opportunities||
|HDFC Taxsaver Fund||HDFC TaxSaver Fund||Equity-Tax – ELSS||Equity-ELSS|
|HDFC Top 200||HDFC Top 100 Fund||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||
|HDFC Equity Fund||HDFC Equity Fund||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||
|HDFC Small Cap Fund||HDFC Small Cap Fund||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.
Disclaimer: the views expressed here are of the author and do not reflect those of Groww.