January 13, 2026
RA Jainee
HDFC Manufacturing Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 11.11 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 11.11 |
| Min. Investment (Rs.) | 100 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 6 |
| Benchmark | Nifty India Manufacturing |
| AUM Rs. | 11,014 Cr |
| (As on 31-Dec-2025) | |
| Expense | 0.82% |
| 1 Year Return (%) | 9.05 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 6.57% |
⚖️ Sahifund Review – HDFC Manufacturing Fund ✔
PLUS: Stability, track record, cost efficiency
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MINUS: Large AUM, large-cap bias, momentum lag
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Sahifund View (Decisive Line):
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Nobody should invest in Manufacturing funds in our opinion, because:
• They have a narrow focus on only companies following the manufacturing theme
• Instead, diversified equity funds which invest across sectors/themes are better
If you still choose to invest:
1. Invest only through SIP
2. Have a 7+ year investment horizon
3. Be prepared to withstand interim sharp declines in investment value
Fund’s Investment Strategy:
The scheme seeks to provide long-term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in the manufacturing activity.
Fund Manager:
1) Rakesh Sethia
Education: Mr. Sethia has done CFA, FRM, MBA and BBM
Experience: Prior to joining HDFC Mutual Fund, he has worked with HSBC Securities & Capital Markets India Ltd and Morgan Stanley India Co. Pvt Ltd.
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | — |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 1 month |
Basic Details of HDFC Manufacturing Fund
| Fund House | HDFC Mutual Fund |
| Launch Date | 16-May-24 |
| Return Since Launch | 6.57% |
| Benchmark | Nifty India Manufacturing |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | Rs 11,014 Cr |
| (As on 31-Dec-2025) | |
| Expense | 0.82% |
| (As on 31-Dec-2025) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 29.59% |
Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| HDFC Manufacturing Dir | -1.71 | -0.02 | -0.51 | -1.62 | 1.42 | 9.05 | — | — | — | — |
| BSE India Manufacturing TRI | -1.56 | -0.48 | 1.29 | 3.67 | 5.98 | 11.35 | — | — | — | — |
| Equity: Thematic-Manufacturing | -1.65 | -0.12 | -0.72 | -1.11 | 1.62 | 6.92 | — | — | — | — |
| Rank within category | 9 | 6 | 8 | 12 | 9 | 7 | — | — | — | — |
| Number of funds in category | 17 | 17 | 17 | 17 | 16 | 15 | 5 | 2 | 2 | 1 |
Peer Comparison of HDFC Manufacturing Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| HDFC Manufacturing Dir | Unrated | 9.05 | — | — | 0.82 | 11,014 | 6.57 | 1.00 (30) | 1Y 7M | 29.59 |
| ICICI Pru Manufacturing Dir | Unrated | 11.41 | 25.21 | 24.53 | 0.78 | 6,549 | 20.27 | 1.00 (365) | 7Y 3M | 34.00 |
| Axis India Manufacturing Dir | Unrated | 6.76 | — | — | 0.54 | 5,128 | 18.93 | 1.00 (90) | 2Y | 56.00 |
| Kotak Manufacture in India Dir | Unrated | 12.50 | 22.46 | — | 0.59 | 2,483 | 20.78 | 0.50 (90) | 3Y 10M | 39.64 |
| Canara Robeco Manufacturing Dir | Unrated | 3.74 | — | — | 0.79 | 1,589 | 12.39 | 1.00 (365) | 1Y 10M | — |
Portfolio Analysis of HDFC Manufacturing Fund
| No. of Stocks | 85 |
| Top 10 Stocks | 35.18% |
| Top 5 Stocks | 21.98% |
| Top 3 Sectors | 65.48% |
| Portfolio P/B Ratio | 3.77 |
| Portfolio P/E Ratio | 19.87 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 95,970 | 1,14,209 |
| Giant (%) | 39.73 | 42.05 |
| Large (%) | 26.41 | 23.37 |
| Mid (%) | 20.38 | 25.34 |
| Small (%) | 13.49 | 13.15 |
| Tiny (%) | — | 0.70 |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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