HDFC formed its asset management company based at Mumbai and this HDFC Asset Management Company acts as an asset management company for HDFC Mutual Fund.
Zurich India fund planned to divest its AMC in India.
So it got regulatory approval for the same and migrated some of its schemes to HDFC Mutual Fund.
Some of them are: Zurich India High Interest Fund - This was changed to "HDFC High Interest Fund".
Zurich India Liquidity Fund - This was changed to "HDFC Cash Management Fund".
Zurich India Soverign Gilt Fund - This was changed to "HDFC Soverign Gilt Fund".
Currently HDFC Asset management company has 24 open ended schemes and 10 closed end schemes.
HDFC Mutual fund SIP (Systematic Investment Plan) option is available in most of these schemes, where the investors can invest in these schemes every month.
There is also SIP Auto debit facility available so that the monthly payments will be automatically withdrawn from your bank account.
Some of the best HDFC schemes are: HDFC Prudence Fund: This is an open ended balanced scheme and it is aimed in bringing regular returns and regular capital appreciation in a long period of time.
They invest in both debt and equity to make more safe investments.
There is both dividend and growth option available for the investors to invest in this fund.
You can choose either dividend payout option or dividend reinvestment option.
If you choose dividend payout option, you will be paid dividends periodically whenever declared.
If you choose for dividend reinvest option, then the dividends declared will be automatically reinvested and additional units will be bought.