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HDFC Hybrid Fairness Fund Overview

On this version of the fund efficiency report, we evaluation HDFC Hybrid Fairness Fund. In a baffling and messy response to the SEBI categorisation guidelines, HDFC determined to shut each its balanced funds, HDFC Balanced and HDFC Prudence and merge them with unknown funds!

From June 1st 2018, HDFC Balanced and its AUM merged with HDFC premium multi-cap after which renamed HDFC Hybrid Fairness Fund. HDFC Prudence additionally met the same destiny and have become a balanced benefit fund. HDFC Hybrid Fairness Fund at the moment has an AUM of Rs. 17,192 Crores.

Disclaimer: Fund efficiency studies current return and threat evaluation of a fund with consultant benchmarks and never funding suggestions. It have to be expressly understood that the info under replicate solely previous efficiency and is by no means a sign of future efficiency. Our funding suggestions might be discovered right here: Handpicked Listing of Mutual Funds (PlumbLine).

Disclosure: HDFC Hybrid Fairness is a part of my retirement portfolio. For particulars, see Fourteen Years of Mutual Fund Investing: My Journey and classes realized.

We learn the way persistently the Fund has carried out wrt Nifty 100 TRI and CRISIL 65:35 Aggressive Hybrid Index. We’ll use three metrics to investigate efficiency consistency versus benchmarks. Evaluation equivalent to this may be discovered for 350+ fairness funds in our month-to-month mutual fund screener.

1 Rolling return outperformance consistency: the fund returns are in contrast with class benchmark returns over each potential 3Y,4Y, and 5Y interval. Larger the outperformance consistency, the higher. Suppose 876 fund returns have been in contrast with 876 benchmark returns, and the fund has crushed the benchmark 675 occasions. The consistency rating will likely be 675/876 ~ 77%.

Three years

MetricNifty 100 TRICrisil6535
No of rolling return entries Index (3 Years)16262263
No of rolling return entries Fund (3 years)16262263
No of occasions the fund has outperformed the index (3 years)7021483
rolling return outperformance Consistency Rating (3 years)43%66%

4 years

MetricNifty 100 TRICrisil6535
No of rolling return entries Index (4 Years)13822019
No of rolling return entries Fund (4 years)13822019
No of occasions the fund has outperformed the index (4 years)7021133
rolling return outperformance Consistency Rating (4 years)51%56%

5 years

MetricNifty 100 TRICrisil6535
No of rolling return entries Index (5 Years)11321672
No of rolling return entries Fund (5 years)11321672
No of occasions the fund has outperformed the index (5 years)6461059
rolling return outperformance Consistency Rating (5 years)57%63%

It’s nearly common to above-average efficiency. Which isn’t too shabby, contemplating spectacular outperformance doesn’t final without end.

2 Upside efficiency consistency over each potential 1Y,2Y,3Y,4Y, 5Y: Larger the higher. A rating of 70% means, 7 out of 10 occasions, the Fund carried out higher than the class benchmark when the benchmark was shifting up. This can be a measure of reward. It’s computed from rolling upside seize information (see hyperlink under).

MetricNifty 100 TRICrisil6535
upside efficiency consistency (3 years)46%97%
upside efficiency consistency (4 years)49%96%
upside efficiency consistency (5 years)47%98%

The fund typically tends to do properly when the hybrid index is on the best way up.

3 Draw back efficiency consistency over each potential 3Y,4Y, 5Y. Larger, the higher. A rating of 60% means, 6 out of 10 occasions, the Fund carried out higher than the class benchmark when the benchmark was shifting down. This can be a measure of threat safety. It’s computed from rolling draw back seize information. Learn extra: An introduction to Draw back and Upside Seize Ratios.

MetricNifty 100 TRICrisil6535
draw back safety consistency (3 years)96%65%
draw back safety consistency (4 years)100%69%
draw back safety consistency (5 years)100%67%

Draw back safety wrt Nifty 100 is just not a good comparability because the benchmark doesn’t have any bonds, so we low cost that.

Curiously HDFC Hybrid Fairness tends to favour upside seize (doing higher than the hybrid index when the latter is shifting up) to draw back seize (doing higher than the hybrid index when the latter goes down). Nonetheless, by itself, the draw back, safety consistency is fairly good. Not many funds can replicate this behaviour.

In abstract, HDFC Hybrid Fairness has displayed unspectacular however “moderately acceptable” efficiency wrt a hybrid index. The fund is appropriate for mature buyers preferring a quiet, common or above-average performer to a short-lived star.

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