HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund NFO

April 30, 2025

mayank

Investment Strategy for this NFO?

The scheme seeks to generate returns that are commensurate (before fees and expenses) with the performance of the CRISIL-IBX Financial Services 3-6 Months Debt Index, subject to tracking difference.

Basic Details

Fund House	HDFC Mutual Fund
Issue Open	28 April 2025
Issue Close	05 May 2025
Type	Open-ended
Category	Debt: Ultra Short Duration
Min. Investment(Rs)	100
Plans	Growth
Lock-in Period	NA
Exit Load	0
Riskometer	Low to Moderate
Benchmark	CRISIL-IBX Financial Services 3 to 6 Months Debt

About Benchmark Index for this NFO?

CRISIL-IBX Financial Services 3-6 Months Debt Index” is a constant maturity index that seeks to track the performance of Commercial Papers (CPs), Certificates of Deposit (CDs) & corporate bond securities maturing within 3 to 6 months from the date of inclusion in the index.

Inception date: 10-Dec-2024

Asset Allocation: 100% CPs, CDs & Bonds.

• The weights between asset classes (CPs, CDs and Bonds) are not fixed and could be different during various review periods based on the availability of securities in the market and may also drift due to price movements in the securities.

Index Duration: – The index will have securities maturing in the 3 to 6 months maturity at inception and securities will be reviewed on a set frequency to maintain the steady maturity profile of the index.

Index Construction:

Parameter	Asset class 1 – CPs, CDs & Bonds
Eligibility criteria	• Issuers in the financial services sector with long term conservative rating of AAA with a minimum amount outstanding of Rs. 1500 crores and having securities (CPs, CDs & Bonds) with residual maturity of 3 to 6 months.
	• Minimum security level amount outstanding of Rs. 100 crores.
	• Only listed issuers shall be included in the index. An issuer will be considered to be listed if at least one security (CPs or Bonds) of such issuer is listed as evaluated at the inception date of the index. CDs are not listed on the exchanges, and hence all CDs are considered eligible if they meet the remaining criteria.

Fund Managers of HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund

1) Anupam Joshi

Education: Mr. Joshi is a PGDM in Business Management.
Experience: Prior to joining HDFC Mutual Fund he has worked with IDFC AMC, Principal Asset Management Company and ICAP India Pvt. Ltd.

AMC

HDFC Asset Management Company Ltd
Address: “HDFC House”, 2nd Floor, H. T. Parekh Marg, 165-166, Backbay Reclamation, Churchgate Mumbai – 400020
Website: http://www.hdfcfund.com

Registrar & Transfer Agent

Computer Age Management Services Ltd.
Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai – 600002
Website: www.camsonline.com

Review for HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund @ sahifund.com by Paresh Gordhandas, C.A., Research Analyst

[ A ] Benchmark Performance of CRISIL-IBX Financial Services 3 to 6 Months Debt

Issuer selection at inception

• All issuers qualifying the eligibility criteria mentioned above will form a part of universe.
• Up to 20 traded issuers from the universe will be ranked and selected based on liquidity. If less than 8 issuers are available, then select remaining issuers (to bring the count to 8) based on the highest amount outstanding from the universe of outstanding securities as evaluated at the inception date of the index. If the number of issuers is still below 8, then all such eligible issuers with securities maturing in the 3 to 6 months residual maturity period will be shortlisted. Count of 8 issuers will be ensured by relaxing amount outstanding criteria first and then the residual maturity criteria i.e., highest amount outstanding issuers or highest residual maturity of issuers will be selected respectively from the outstanding data.

Security selection at inception

• For each selected issuer, the security (CPs/CDs/Bonds) with highest residual maturity maturing in the 3 to 6 months period will be selected from the eligible universe. The selected security must have a minimum amount outstanding of Rs. 100 crores.

No. of constituents:
(1) Maximum: 20
(2) Minimum: 8

Weighing approach:

1. Weights to the issuers will be divided equally as on the base date of the index subject to issuer cap and group cap. Since it’s a sectoral index sector caps are not applicable.
2. Issuers weights should not exceed 15% for AAA rated issuers. Group cap of 25% will be ensured.
3. When any issuer is excluded, the weight of that issuer will be redistributed proportionally amongst the rest of the issuers of the index, subject to issuer & group cap.

Study about Benchmark Index in details (Page 114 to 115)
index-linked-products-methodology

Note on Benchmark Performance:

[ B ] Performance Review of the Fund Managers of this NFO

Past Performance of Anupam Joshi

Fund	HDFC Corporate Bond Fund	It’s Benchmark	HDFC Liquid Fund	It’s Benchmark
1 Year	9.88	9.41	7.25	5.12
3 Year	7.49	7.49	6.78	4.29
5 Year	7.08	5.77	5.38	3.44
7 Year	7.69	6.54	5.74	3.68
10 Year	7.77	6.53	6.20	3.94

As on 30-4-2025

Note on Fund Managers’ performance

[ C ] Conclusion
X

Is it good to invest in HDFC CRISIL-IBX Financial Services 3-6 Months Debt NFO?

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