HDFC Balanced Advantage Fund
Striking the right balance
of Debt and Equity can take
you a long way.
^Source: AMFI, Closing AUM as on June 30th 2025 is ₹1,02,789.76 crores.
Debt Portfolio Construction
Financial Markets are full of uncertainties and for an investor, managing one’s assetallocation mix dynamically is
a challenging task, which may also not be tax efficient.
HDFC Balanced Advantage Fund invests dynamically in a combination of Equity and Debt instruments wherein
the allocation between equity and debt is based on following framework:
Investment Framework
Variation of
+/- 10%(max) on
equity* allocation
based on macro overlay
Macro Overlay
Trailing twelve month Price Positioning within the
Detailed assessment of
to Earnings Ratio range is based on bottom
macro factors notably
growth, inflation, fiscal and up assessment of
Earnings Yield/G-Sec Yield monetary policy and investment opportunities
Ratio external environment
Based on the above,
prevailing macro regime is
Valuations ascertained Positioning
Determines Note: *The scheme maintains equity allocation (hedged + unhedged) at minimum
range of equity* 65% all points of time. The above framework is broadly indicative and the fund
allocation manager may change the framework depending on the market conditions.
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Debt Portfolio Construction
Portfolio Construction Framework
Equity Portfolio Construction Debt Portfolio Construction
Active management of equity portfolio focusing on Active management of debt portfolio focusing on
Positioning across Sectors / Market Capitalization Spreads across credits/asset classes/tenures
Risk mitigation through appropriate sizing of Modulation of duration, based on interest rate view
exposure
To manage credit risk, our fixed income investment
Stock selection would be based on troika of quality philosophy emphasizes on Safety, Liquidity and
assessment, earnings outlook and valuations Returns (SLR) in that order
Note: The portfolio construction is the purview of the Fund Manager and allocation may change depending on the market conditions.
The asset allocation is done with a medium to long term view. As of 30th June, 2025, net equity exposure
of the Scheme was ~61% of Total assets vs ~82% in March 2020.
82 83 8382 83 85
Unhedged Equity (Net Equity) %
95000 81 81 81
80 80 80
76
BSE SENSEX Levels
85000 76 75
74 74 75
in the scheme
75000 70
67 68 70
66 65 68 66
66
65000 64 65
63 64 63 65
62
62 62 60 6161
55000 59 60 61 58 5960
59 58 57 57 59 60
57 58 59 56
57 57 57 55 55
45000 55 55 53 54
54
52
55
51 50
35000 50 49
50
25000 45
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
Sep-23
Dec-23
Mar-24
Jun-24
Sep-24
Dec-24
Mar-25
Jun-25
Unhedged Equity (Net Equity) % in the scheme(RHS) BSE SENSEX (LHS)
As of 30th June, 2025, the Scheme’s NAV is up ~194 times since its inception on 1st February 1994 vs NIFTY 50 TRI,
which is up ~ 29 times in the same period*. This amounts to returns of ~18% CAGR for the Scheme vs ~11% CAGR for
NIFTY 50 TRI during the same period*.
*Since September 2001 i.e. inception date of NIFTY 50 Hybrid Composite Debt 50:50 Index (Total Returns Index) (Scheme's Benchmark), NAV of HDFC
Balanced Advantage Fund is up ~ 80 times vs ~ 16 times for the Scheme's Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index (Total Returns
Index). Inception date of Scheme: 1st February, 1994.
Past performance may or may not be sustained in future and is not a guarantee of any future returns. HDFC AMC / HDFC MF is not guaranteeing or
assuring any returns on investments in the Scheme. (For complete performance details, please refer page 3 of this document).
1. Performance Snapshot
1 Year % (Absolute) 3 Years % CAGR 5 Years % CAGR
HDFC Balanced Advantage Fund - Regular Plan -
Growth Option 6.24 23.35 25.20
Benchmark@ 8.45 13.61 13.87
Category Average^^ 5.80 14.57 13.77
As of 30th June, 2025, @Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index (Total Returns Index).
^^Number of schemes in the category: 1 year - 34, 3 years - 25, 5 years – 20
Considering the performance of the Scheme, its dynamic equity allocation and portfolio positioning, the Scheme
is suited for investors looking for growth of equity and stability of debt, with a medium to long term view.
For scheme and benchmark riskometer, complete performance details, please refer next page of this document.
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2. HDFC Balanced Advantage Fund -
SIP Performance - Regular Plan - Growth Option
SIP since inception* of ` 10,000 invested systematically on the first business day of every month (total investment ` 37.70 lakh)
in HDFC Balanced Advantage Fund would have grown to ~ ` 15.84 crore by June 30, 2025 (refer below table).
Since Inception* 15 years SIP 10 years SIP 5 years SIP 3 years SIP 1 year SIP
Total Amount Invested ( ` in Lacs) 37.70 18.00 12.00 6.00 3.60 1.20
Market Value as on June 30, 2025 (` in Lacs)$$ 1,583.86 64.26 28.85 10.11 4.77 1.26
Returns (%)$$ 18.84 15.48 16.72 21.04 19.24 9.59
Benchmark Returns (%)# N.A. 11.23 11.63 11.68 12.38 10.61
Additional Benchmark Returns(%)## 13.74 13.91 15.11 16.07 16.10 12.32
CAGR returns are computed after accounting for the cash flow by using XIRR method (investment internal rate of return). The above investment
simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. SIP - Systematic
Investment Plan. Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time.
3. HDFC Balanced Advantage Fund- NAV as at June 30, 2025 ` 524.463 (per unit)
Performance-Regular plan-Growth Option Value of ` 10,000 invested
Scheme Scheme Benchmark Additional Benchmark Additional
Period Scheme (₹)$$ Benchmark (₹)#
Returns (%)$$ Returns (%)# Returns (%)## Benchmark (₹)##
Last 1 Year 6.24 8.45 7.49 10,628 10,850 10,754
Last 3 Years 23.35 13.61 18.72 18,779 14,670 16,741
Last 5 Years 25.20 13.87 21.33 30,783 19,151 26,307
Last 10 Years 14.37 10.83 13.16 38,329 27,987 34,474
Since Inception* 18.25 N.A. 11.35 19,41,018 N.A. 2,93,742
Common Notes for all the above tables: Past performance may or may not be sustained in future and is not a guarantee of any future returns. *Inception
Date: February 01, 1994. The scheme is co-managed by Mr. Gopal Agrawal (Equity Portfolio) (since July 29, 2022), Mr. Srinivasan Ramamurthy (Equity
Portfolio) (since July 29, 2022), Mr. Arun Agarwal (Arbitrage Assets) (since October 6, 2022), Ms. Nandita Menezes (Arbitrage Assets) (w.e.f March 29, 2025)
and Mr. Anil Bamboli (Debt Portfolio) (since July 29, 2022). # NIFTY 50 Hybrid Composite Debt 50:50 Index (Total Returns Index). ## NIFTY 50 (Total
Returns Index). $$ All Distributions declared prior to the splitting of the Scheme into IDCW & Growth Options are assumed to be reinvested in the units
of the Scheme at the then prevailing NAV (ex-distribution NAV). As NIFTY 50 TRI data is not available since inception of the scheme, additional
benchmark performance is calculated using composite CAGR of NIFTY 50 PRI values from February 1, 1994 to June 29, 1999 and TRI values since June
30, 1999. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where
a portion of scheme’s investments are made in debt instruments. Returns greater than 1 year period are compounded annualized (CAGR). Load is not
taken into consideration for computation of performance. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The
expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. N.A.:
Not Available. Returns as on June 30, 2025.
Note: Effective close of business hours of June 1, 2018, HDFC Prudence Fund merged with HDFC Growth Fund (HDFC Balanced Advantage Fund after
changes in fundamental attributes). As the portfolio characteristics and the broad investment strategy of HDFC Balanced Advantage Fund is similar to
that of erstwhile HDFC Prudence Fund, the track record (i.e. since inception date, dividend history, etc.) and past performance of erstwhile HDFC
Prudence Fund has been considered, in line with SEBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.
For Performance of Other Schemes Managed by the Fund Managers, please click here.
RISKOMETER^^ OF THE SCHEME NAME OF BENCHMARK AND RISKOMETER^^
This product suitable for investors who are
seeking~: NIFTY 50 Hybrid Composite Debt 50:50
Index (Total Returns Index)
• To generate long-term capital appreciation /
income
• Investments in a mix of equity and
debt instruments
~ Investors should consult their financial advisers, if in doubt about whether the product is suitable for them.
NAME OF SCHEME RISKOMETER OF THE SCHEME
Benchmark and Scheme Riskometer as on June 30, 2025.
^^For latest riskometer, investors may refer to the Monthly Portfolios disclosed on the website of the Fund viz. www.hdfcfund.com
Date of Release: July 18, 2025
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS,
READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.
Mission: To be the wealth creator for every Indian
Vision: To be the most respected asset manager in the world
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