MUTUAL FUNDS
HDFC AMC announces Change in Key Personnel and Fund Managers
Mar-29-2025

HDFC Asset Management Company (AMC) has announced addendum to the Statement of Additional Information (SAI) and Scheme Information Documents (SIDs), Key Information Memorandums (KIMs) of Specified Schemes of HDFC Mutual Fund.

HDFC Mutual Fund has informed that, Nirman Morakhia, Fund Manager and Dealer - Equities, shall be relieved from equity dealing and fund manager responsibilities with effect from close of business hours of March 28, 2025. Further, Nandita Menezes, a Key Personnel of HDFC AMC, who is presently designated as ‘Manager - Investment Process Control, Equity Dealer’ will be re-designated as ‘Fund Manager and Dealer - Equities with effect from March 29, 2025. Consequently, her designation in SAI shall stand updated.

Accordingly, the Fund Managers for the below mentioned Schemes shall change with effect from March 29, 2025 as follows: 

The Fund Manager(s) of HDFC Arbitrage Fund* stand revised from Existing ‘Nirman Morakhia and Arun Agarwal (Arbitrage Assets), Anil Bamboli (Debt Assets)’ to ‘Nandita Menezes and Arun Agarwal (Arbitrage Assets), Anil Bamboli (Debt Assets) (New Fund Managers).

The Fund Manager(s) of HDFC Balanced Advantage Fund* stand revised from Existing ‘Gopal Agarwal and Srinivasan Ramamurthy (Equity Assets), Nirman Morakhia and Arun Agarwal (Arbitrage Assets), Anil Bamboli (Debt Assets)’ to ‘Gopal Agarwal and Srinivasan Ramamurthy (Equity Assets), Nandita Menezes and Arun Agarwal (Arbitrage Assets), Anil Bamboli (Debt Assets)’ (New Fund Managers).

The Fund Manager(s) of HDFC Equity Savings Fund* stand revised from Existing ‘Srinivasan Ramamurthy (Equity Assets), Anil Bamboli (Debt Assets) Nirman Morakhia and Arun Agarwal (Arbitrage Assets)’ to ‘Srinivasan Ramamurthy (Equity Assets), Anil Bamboli (Debt Assets), Nandita Menezes and Arun Agarwal (Arbitrage Assets)’ (New Fund Managers).

The Fund Manager(s) of HDFC Multi-Asset Fund* stand revised from Existing ‘Srinivasan Ramamurthy (Equity Assets), Anil Bamboli (Debt Assets), Bhagyesh Kagalkar (Gold Assets), Nirman Morakhia and Arun Agarwal (Arbitrage Assets)’ to ‘Srinivasan Ramamurthy (Equity Assets), Anil Bamboli (Debt Assets), Bhagyesh Kagalkar (Gold Assets), Nandita Menezes and Arun Agarwal (Arbitrage Assets)’ (New Fund Managers).

The Fund Manager(s) of HDFC BSE 500 ETF, HDFC NIFTY Midcap 150 ETF & HDFC Nifty Smallcap 250 ETF stand revised from Existing ‘Abhishek Mor, Nirman Morakhia and Arun Agarwal’ to ‘Abhishek Mor, Nandita Menezes and Arun Agarwal’ (New Fund Managers).

The Fund Manager(s) of HDFC BSE 500 Index Fund, HDFC BSE Sensex Index Fund, HDFC Developed World Indexes Fund of Funds, HDFC Gold ETF Fund of Fund, HDFC Nifty 100 Index Fund, HDFC Nifty 50 Index Fund, HDFC Nifty India Digital Index Fund, HDFC Nifty LargeMidcap 250 Index Fund, HDFC NIFTY Midcap 150 Index Fund, HDFC Nifty Next 50 Index Fund, HDFC NIFTY Realty Index Fund, HDFC Nifty Smallcap 250 Index Fund, HDFC Nifty Top 20 Equal Weight Index Fund, HDFC Nifty100 Equal Weight Index Fund, HDFC NIFTY100 Low Volatility 30 Index Fund, HDFC Nifty100 Quality 30 Index Fund, HDFC NIFTY200 Momentum 30 Index Fund, HDFC NIFTY50 Equal Weight Index Fund, HDFC Nifty500 Multicap 50:25:25 Index Fund and HDFC Silver ETF Fund of Fund stand revised from Existing ‘Nirman Morakhia and Arun Agarwal’ to ‘Nandita Menezes and Arun Agarwal’ (New Fund Managers). 

Mr. Dhruv Muchhal is the dedicated Fund Manager for Overseas Investments.

Further, Fund Managers of HDFC Retirement Savings Fund (Equity Plan, Hybrid Equity Plan and Hybrid Debt Plan) stand revised from Existing ‘Srinivasan Ramamurthy (Equity Portfolio), Shobhit Mehrotra (Debt Portfolio), Dhruv Muchhal (Dedicated Fund Manager for Overseas Investments)’ to ‘Srinivasan Ramamurthy (Equity Assets), Shobhit Mehrotra (Debt Assets), Nandita Menezes and Arun Agarwal (Arbitrage Assets), Dhruv Muchhal (Dedicated Fund Manager for Overseas Investments)’ (New Fund Managers) with effect from April 01, 2025.

All other terms and conditions of the SAI and SIDs, KIMs of the Schemes will remain unchanged. This addendum forms an integral part of the SAI and SIDs, KIMs of the Schemes as amended from time to time.





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