HDFC Asset Management Company Ltd
HDFC Asset Management Company Ltd (HDFCAMC)

HDFC Asset Management Company Ltd (HDFCAMC)


Key Stats

Day's Price Range
52-Week Price Range
1 Month Return-8.51 %
3 Month Return1.8 %
1 Year Return-35.81 %

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

Rank 26
Rank 28
Dividend Yield
Rank 13
Rank 2
Debt To Asset
Rank 16

Company Information

HDFC Asset Management HDFC AMC is the investment manager to HDFC Mutual Fund HDFC MF the largest mutual fund in India with total AUM of Rs.343938 Crore as of March 31 2019. HDFC AMC has a diversified asset class mix across Equity and Fixed Income/Others. It has a countrywide network of branches along with a diversified distribution network comprising Banks Independent Financial Advisors and National Distributors. The Company is a subsidiary of Housing Development Finance Corporation Limited. As on 31 March 2019 the company had more than 75000 empanelled distribution partners serviced through a total of 210 branches. As at March 31 2019 Housing Development Finance Corporation Ltd the holding company owned 52.77 of the Companys equity share capital.The Company operates as a joint venture between Housing Development Finance Corporation Limited HDFC and Standard Life Investments Limited SLI. HDFC is one of Indias leading housing finance companies. HDFC group has emerged as a recognized financial conglomerate in India with presence in housing finance banking life and non life insurance asset management real estate funds and education finance. Listed companies of the HDFC group include HDFC Limited HDFC Bank Limited HDFC Standard Life Insurance Company Limited and GRUH Finance Limited which had market capitalizations of US46.87 billion Rs. 3209.38 billion US80.19 billion Rs. 5490.74 billion US13.41 billion Rs. 918.01 billion and US3.25 billion Rs. 222.47 billion respectively as of June 30 2018. SLI is an indirect subsidiary of Standard Life Aberdeen pic Standard Life Aberdeen one of the worlds largest investment companies created in 2017 from the merger of Standard Life plc and Aberdeen Asset Management PLC. SLI operates within the brand Aberdeen Standard Investments with its investment arm managing 575.7 billion Rs. 49666.50 billion of assets as of December 31 2017 making it one of the largest active managers in Europe. Standard Life Aberdeen is listed on the London Stock Exchange and had a total market capitalization of 9.70 billion Rs. 876.72 billion as of June 30 2018. The company offers a large suite of savings and investment products across asset classes which provide income and wealth creation opportunities to customers. As of March 31 2019 the company offered 147 schemes that were classified into 22 equityoriented schemes 115 debt schemes including 72 fixed maturity plans FMPs 3 liquid schemes and 7 other schemes including exchangetraded schemes and funds of fund schemes. This diversified product mix provides them with the flexibility to operate successfully across various market cycles cater to a wide range of customers from individuals to institutions address market fluctuations reduce concentration risk in a particular asset class and work with diverse sets of distribution partners which helps to expand its reach. The Company also provides portfolio management and segregated account services including discretionary nondiscretionary and advisory services to high net worth individuals HNIs family offices domestic corporates trusts provident funds and domestic and global institutions.HDFC Asset Management Company Limited was incorporated as a public limited company on December 10 1999 and obtained its certificate for commencement of business on March 9 2000 from the RoC. It was approved to act as an Asset Management Company for HDFC Mutual Fund by SEBI on 3 July 2000. In September 2000 the companys Assets under Management AUM reached Rs 6.5 billion. In August 2001 Standard Life Investments became a shareholder of the company. In September 2002 the companys AUM crossed Rs 100 billion.In June 2003 HDFC Asset Management Company acquired Zurich Asset Management Company Limited ZAMC having an AUM of Rs 34 billion. In January 2009 the companys AUM crossed Rs 500 billion. In October 2009 the companys AUM crossed Rs 1 trillion. In March 2011 HDFC Debt Fund for Cancer Cure was launched. In March 2014 the company launched its second CSR oriented fund viz. HDFC Debt Fund for Cancer Cure 2014. In June 2014 the company acquired Morgan Stanley Mutual Fund schemes having an AUM of Rs 19 billion. In September 2014 the companys AUM crossed Rs 1.5 trillion. In May 2016 the companys AUM crossed Rs 2 trillion. In April 2017 the companys Equity AUM crossed Rs 1 trillion. In December 2017 the companys AUM crossed Rs 3 trillion. During the financial year the shareholders of the Company at their meeting held on January 16 2014 approved the buyback of equity shares of the Company from the shareholders of the Company through tender offer. The buyback offer was completed within the time limits as prescribed under the Companies Act 1956 and 141500 equity shares of the Company were bought by the Company under the buyback offer. The present paidup capital post the buyback offer is Rs. 252408000/.HDFC Asset Management Company promoters viz. HDFC and Standard Life Investments Limited offloaded a total of 2.54 crore shares through an initial public offer IPO of during the period from 25 July 2018 to 27 July 2018. There was no fresh issue of shares by the company. HDFC offloaded 85.92 lakh shares and Standard Life Investments Limited offloaded 1.68 crore equity shares through the IPO. The IPO was priced at Rs 1100 per share. The companys shares were listed on the bourses on 6 August 2018. The Board of Directors recommended issue of Bonus shares in the ratio of 3:1 i.e. 3 new equity shares for every one equity share held and subdivision of equity shares of Rs.10/ each into two equity shares of Rs. 5/ each which was approved by the Shareholders at an extraordinary general meeting held on February 6 2018. Accordingly bonus shares were allotted to the members who held the equity shares on the Record Date i.e. February 5 2018 by capitalization of balance in the free reserves amounting to Rs. 78.96 crores. Further the equity shares of face value of Rs. 10/ each were subdivided into two equity shares of face value of Rs. 5/ each by way of corporate action to the shareholders who held the shares on the Record Date i.e. February 13 2018.The Board of Directors at its meeting held on March 8 2018 have accorded inprinciple approval for issue of up to 1600000 equity shares of face value of Rs. 5/ each of the Company for cash consideration aggregating up to Rs. 210 crores by way of a private placement in accordance with the provisions of Sections 23 42 and 621c of the Companies Act 2013 read with Rule 13 of the Companies Share Capital and Debentures Rules 2014. During the year 2018 the Board of Directors of the Company approved taking steps to initiate the process for an Initial Public Offering IPO of the Company by way of an offer for sale by Housing Development Finance Corporation Limited HDFC Ltd and Standard Life Investments Limited SLI in one or more tranches such that the post dilution shareholding of HDFC Ltd is at 50.01 and SLI at 24.99. This is subject to relevant regulatory and other approvals as applicable. Accordingly the Company has filed Draft Red Herring Prospectus with Securities and Exchange Board of India on March 15 2018. The Company is presently awaiting/will require approvals from SEBI and other regulatory authorities.The Company has successfully undertaken Investment and Advisory services mandates during the financial year 201718 pursuant to approval received from Securities and Exchange Board of India SEBI with respect to undertaking Investment and Advisory services under Regulation 24b of the SEBI Mutual Fund Regulations 1996. As on March 31 2018 the aggregate asset under investment management/advisory services under this was Rs5099 crore.During the year the Company has completed its Initial Public Offering IPO through an offer for sale of equity shares. The equity shares of the Company were listed on National Stock Exchange of India Limited and BSE Limited on August 06 2018.Pursuant to the receipt of approval of the members at the Extra Ordinary General Meeting of the Company held on April 18 2018 the Company issued and allotted 1433600 equity shares of the Company of Rs.5/ each at an issue price of Rs.1050/ per equity share aggregating to Rs.1505280000/ by way of a private placement in accordance with Sections 621c 42 and other applicable provisions if any of the Companies Act 2013 including the Rules framed thereunder. The funds raised from the issuance of private placement were utilized for general corporate purposes including enhancement of the systems infrastructure.HDFC Ultra Short Term Fund the openended scheme was launched in the month of September 2018. The investment objective of the Scheme is to generate regular income through investments in Debt and Money Market Instruments while maintaining McCauley duration of the portfolio between 3 months and 6 months. The Scheme aims to generate income through investments in a range of debt and money market instruments. The Scheme would endeavor to generate returns commensurate with low levels of interest rate risk. The NFO of the Scheme mobilised assets to the tune of Rs.1161 Crore. As of March 31 2019 HDFC MF offered 147 schemes across asset classes to meet the varying investment needs of investors.
OrganisationHDFC Asset Management Company Ltd