27 Years of Track Record for HDFC Top 100 Fund
News Desk 
Kochi, 21 March 2024: HDFC Top 100 Fund, an open-ended equity scheme predominantly
investing in large-cap stocks (“the Fund”), has successfully completed 27 years in 2023. Over
the past 27 years, the Fund has delivered Compound Annual Growth Rate (CAGR) of ~19%.
Further, a SIP of Rs 10,000 invested systematically on the first business day of every month
(total investment Rs 32.90 Lacs) in HDFC Top 100 Fund would have grown to Rs. 7.98 crores
by February 29, 2024 (See complete performance details given at the end). This
performance is a testament to the fund's ability to navigate market fluctuations and deliver
growth to investors.
The portfolio construction follows a bottom up approach to stock picking blended with top
down sector and macro trends. The Fund follows a diversified style with a blend of GARP
(growth at reasonable price) and value. In stock selection, the focus is on quality of business
models, management and financial metrics. Portfolio construction is based on risk-reward of
opportunities available at any given point in time. As per the mandate, more than 80% of
the portfolio always remains invested in the well-established large cap companies. The core
of the portfolio construction is from a medium to long term perspective. The strategy will be
in line with our philosophy of maintaining a disciplined approach of looking for quality
companies at reasonable valuations.
There is lot of focus on risk management with active positions being taken in a controlled
manner while ensuring compliance with regulatory and internal risk guidelines. Any high
conviction bets are taken after a considered evaluation of the company’s positioning in the
industry and the business cycle and regularly evaluated. The portfolio is well diversified in
number of stocks and the fund manager takes measured sector deviations calls vs
benchmark.
Large-cap stocks have historically demonstrated stability during economic fluctuations and
have had better risk reward ratios. Further, the large cap index has outperformed mid and
small cap indices in 7 out of last 18 calendar years. Also, given the recent sharp
outperformance of mid and small caps over large caps, the large cap segment now seems to
be relatively attractive in terms of valuations and investors with medium to long term view
may consider investing in HDFC Top 100 Fund.
Mr. Navneet Munot, MD & CEO - HDFC AMC, said, " Sound Investment + Time + Patience
has been the time-tested principle for wealth creation in equities. HDFC Top 100 Fund, which
has stood the test of time bears testimony to this. Wealth creation journey of HDFC Top 100
Fund over 27 years is also a shining example of our robust research and investment
processes which has helped the fund withstand multiple market cycles over the years.
Mr. Rahul Baijal, Senior Fund Manager - Equities, HDFC AMC, said "HDFC Top 100 Fund's
performance over the past 27 years is a testament to our rigorous research, disciplined
investment approach, and a focus on well-established businesses. Large-cap stocks offer
stability and better risk adjusted return, making them an attractive option for investors
looking for investment opportunities over the long term."
About HDFC AMC
HDFC Asset Management Company Limited (HDFC AMC) is an Investment Manager to HDFC
Mutual Fund, one of the largest mutual funds in the country. It was incorporated under the
Companies Act, 1956, on 10th December 1999 and was approved to act as an Asset
Management Company for HDFC Mutual Fund by SEBI on 3rd July 2000. It has other SEBI
licenses viz. PMS / AIF. HDFC AMC manages a diversified asset class mix across Equity and
Fixed Income/Others. It also has a countrywide network of branches along with a diversified
distribution network comprising Banks, Independent Financial Advisors and National
Distributors.
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME
RELATED DOCUMENTS CAREFULLY.
