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HDFC TaxSaver (ELSS) Investment Objective | Scheme Information & NAV | Investment Pattern & Strategy | Portfolio |Returns

and benchmarks | Systematic Investment Plan (SIP) Details | Fund Manager | Offer Document / Scheme Information Document (SID) | Application Form Value Research Rating *
EQUITY - TAX PLANNING CATEGORY (29 schemes) for 3 and 5 year periods ending June 30, 2011 *Past performance is no guarantee of future results. Please click here for details on the Rating Methodology. CRISIL Mutual Fund Rank

HDFC TaxSaver Fund Growth Option was assigned CRISIL Mutual Fund Rank 1 # in the Open EndEquity Linked Saving Schemes (ELSS) Category (out of 28 schemes) for the 2 year period ending March 31, 2011 by CRISIL. # Past Performance is no guarantee of future results. Ranking Methodology The criteria used in computing the CRISIL Mutual Fund Rank are Superior Return Score based on NAVs over the 1/ 2/ 5-year period ended 31 March 2011, Sectoral concentration, Company concentration and Liquidity of the scheme. The methodology does not take into account the entry and exit loads levied by the scheme. The CRISIL Mutual Fund Rank is no indication of the performance that can be expected from the scheme in future. Please click here for Crisil Ranking Methodology and Disclaimer for the ranking.

Investment Objective The investment objective of the Scheme is to achieve long term growth of capital. Basic Scheme Information

Nature of Scheme Inception Date Option/Plan Entry Load (For Lumpsum Purchases and investments through SIP/STP)

Open Ended Equity Linked Savings Scheme with a lock-in period of 3 years December 18, 1995 Dividend Option,Growth Option. The Dividend Option offers Dividend Payout and Reinvestment Facility. NIL Unfront commission shall be paid directly by the investor to the ARN Holder (AMFI registered Distributor) based on the investors' assessment of various factors including the service rendered by the ARN Holder. Please click here to go through the addendum.

Exit Load (as a % of the Applicable NAV) Minimum Application Amount (click here for SIP Details) Lock-In-Period

NIL No Exit Load shall be levied on bonus units and units allotted on dividend reinvestment. For new & existing investors :Rs.500 and in multiples thereafter. 3 Years from the date of allotment of the respective Units.

Net Asset Value Periodicity Redemption Proceeds Tax Benefits (As per present Laws)
Current Expense Ratio (#) (Effective Date 22nd May 2009)

Every Business Day. Normally dispatched within 3-4 Business days Please click for details
On the first 100 crores average weekly net assets 2.50% On the next 300 crores average weekly net assets 2.25% On the next 300 crores average weekly net assets 2.00% On the balance of the assets 1.75%

(#) Any change in the expense ratio will be updated within two working days.

Plan Name Dividend Option Growth Option

Investment Pattern The asset allocation under the respective Plans will be as follows :

NAV Date 09 Aug 2011 09 Aug 2011

NAV Amount 55.6310 218.9710


Sr.No. 1 2

Asset Type Equities & Equity related instruments Debt Securities, Money Market instruments(including cash/call money)

(% Of Portfolio) Minimum 80% Maximum 20%

Risk Profile Medium to High Low to Medium

Investment in Securitised debt, if undertaken, would not exceed 20% of the net assets of the scheme. The Scheme may also invest upto 25% of net assets of the Scheme in derivatives such as Futures & Options and such other derivative instruments as may be introduced from time to time for the purpose of hedging and portfolio balancing and and other uses as may be permitted under the regulations and guidelines. The Scheme may also invest a part of its corpus, not exceeding 40% of its net assets, in overseas markets in Global Depository Receipts (GDRs), ADRs, overseas equity, bonds and mutual funds and such other instruments as may be allowed under the Regulations from time to time. Subject to the Regulations and the applicable guidelines, the Scheme may, engage in Stock Lending activities. Also refer to Section on Stock Lending by the Fund. The ELSS (Equity Linked Savings Scheme) guidelines, as applicable, would be adhered to in the management of this Fund. If the investment in equities and related instruments falls below 80% of the portfolio of the Scheme at any point in time, it would be endeavoured to review and rebalance the composition. Notwithstanding anything stated above, subject to the regulations, the asset allocation pattern indicated above may change from time to time, keeping in view market conditions, market opportunities, applicable regulations and political and economic factors. It may be clearly understood that the percentages stated above are only indicative and are not absolute and that they can vary substantially depending upon the perception of the AMC, the intention being at all times to seek to protect the NAV of the scheme. Such changes will be for short term and defensive considerations.

Provided further and subject to the above, any change in the asset allocation affecting the investment profile of the Scheme and amounting to a change in the Fundamental Attributes of the Scheme shall be effected in accordance with sub-regulation (15A) of regulation 18 of SEBI regulations. TOP Investment Strategy Debt securities (in the form of non-convertible debentures, bonds, secured premium notes, zero interest bonds, deep discount bonds, floating rate bond / notes, securitised debt, pass through certificates, asset backed securities, mortgage backed securities and any other domestic fixed income securities including structured obligations etc.) include, but are not limited to :

Debt obligations of the Government of India, State and local Governments, Government Agencies and statutory bodies (which may or may not carry a state / central government guarantee), Securities that have been guaranteed by Government of India and State Governments, Securities issued by Corporate Entities (Public / Private sector undertakings), Securities issued by Public / Private sector banks and development financial institutions.

Money Market Instruments include :

Commercial papers Commercial bills Treasury bills Government securities having an unexpired maturity upto one year Collateralised Borrowing & Lending Obligations (CBLO) Certificate of deposit Usance bills Permitted securities under a repo / reverse repo agreement Any other like instruments as may be permitted by RBI / SEBI from time to time

Investments will be made through secondary market purchases, initial public offers, other public offers, placements and right offers (including renunciation). The securities could be listed, unlisted, privately placed, secured / unsecured, rated / unrated of any maturity. The AMC retains the flexibility to invest across all the securities / instruments in debt and money market. Investments made from the net assets of the Scheme would be in accordance with the features of the Scheme and the provisions of the SEBI Regulations. The AMC will strive to assess risk of the potential investment in terms of credit risk, interest rate risk and liquidity risk. The credit risk analysis would involve an assessment of the past track record and prospects for the company, the industry it operates in, the future cash flows from operations and the requirement for additional capital expenditure. An interest rate scenario analysis would be performed on an ongoing basis, considering the impact of the developments on the macro-economic front and the demand and supply of funds. Based on the above analysis, the AMC would manage the investments of the Scheme on a dynamic basis to exploit emerging opportunities in the investment universe and manage risks at all points in time. The AMC will utilise ratings of rating agencies registered with SEBI as an input in the decision making process. Investments in bonds and debentures will usually be in instruments that have been assigned high investment grade ratings by a rating agency registered with SEBI. Pursuant to SEBI Circular No. MFD/CIR/9/120/2000 dated November 24, 2000, the AMC may constitute committee(s) to approve proposals for investments in unrated debt instruments. The AMC Board and the Trustee shall approve the detailed parameters for such investments. The details of such investments would be communicated by the AMC to the Trustee in their periodical reports. It would also be clearly mentioned in the reports, how the parameters have been complied with. However, in case any unrated debt security does not fall under the parameters, the prior approval of Board of AMC and Trustee shall be sought. The AMC will attempt to reduce liquidity risk by investing in securities that would result in a staggered maturity profile of the portfolio, investment in structured securities that provide easy liquidity and securities that

have reasonable secondary market activity. In the event of a requirement to liquidate all or a substantial part of these investments in a very short duration of time, the AMC may not be able to realize the full value of these securities to an adverse impact on the Net Asset Value of the Scheme. INVESTMENT POLICIES Consistent with the investment objectives of the scheme, the AMC aims to identify securities which offer superior levels of yield at low levels of risk. The investment team of the AMC will carry out an internal credit analysis of all securities included in the investment universe. The Scheme may also use various derivative and hedging products from time to time, as would be available and permitted by SEBI, in an attempt to protect the value of the portfolio and enhance Unit holders interest. The Investment Manager may therefore enter into forward contracts, future contracts or buy or sell options in an effort to maintain risks at acceptable levels. The Scheme may also invest in suitable investment avenues in overseas financial markets for the purpose of diversification, commensurate with the Scheme objectives and subject to necessary stipulations by SEBI / RBI. Towards this, the Mutual Fund may also appoint overseas investment advisors and other service providers, as and when permissible under the regulations. TOP Systematic Investment Plan (SIP) Details

Serial No. 1

Scheme Name

Minimum Application Amount(Rs.) Rs.500 for Monthly & Rs.1500 for Quarterly

Entry Load #

Exit Load #

HDFC TaxSaver Fund Dividend / Growth



# Applicable for SIPs registered w.e.f from August 1, 2009 TOP Fund Manager Mr. Vinay Kulkarni (since Nov 21,2006) Mr. Miten Lathia - Dedicated Fund Manager - Foreign Securities TOP

Portfolio - Holdings (as on June 30, 2011)

Company EQUITY & EQUITY RELATED State Bank of India Tata Consultancy Services Ltd. ITC Ltd. Sun Pharmaceutical Industries Ltd. Infosys Ltd. Bharti Airtel Ltd. ICICI Bank Ltd. Crompton Greaves Ltd. Larsen & Toubro Ltd

Industry+ Banks Software Consumer Non Durables Pharmaceuticals Software Telecom - Services Banks Industrial Capital Goods Construction

% to NAV 5.38 4.94 4.88 4.33 4.24 3.72 3.61 3.33 2.75

Project Bank of Baroda Total of Top Ten Equity Holdings Total Equity & Equity Related Holdings Total Money Market Instrument & Other Credit Exposures (aggregated holdings in a single issuer) Cash, Cash Equivalents and Net Current Assets Grand Total Net Assets (Rs. In Lakhs)
Note : $ Sponsor TOP Returns


2.74 39.92 94.60 0.00 5.40 100.00 3,18,735.96

HDFC TaxSaver

(NAV as at evaluation date 30-June-11, Rs.235.455 Per unit)

Date March 30, 2007 December 30, 2010 June 30, 2010 June 30, 2008 June 30, 2006 June 29, 2001 March 31, 1996

Period Last 1553 days Last Six months (182 days) Last 1 Year (365 days) Last 3 Years (1095 days) Last 5 Years (1826 days) Last 10 Years (3653 days) Since Inception (5569 days)

NAV Per Unit (Rs.) 133.882 247.362 218.266 126.450 115.193 16.100 10.000

Returns (%) $$ ^ 14.19** -4.81* 7.88* 23.03** 15.36** 30.74** 30.69**

Benchmark Returns (%) # 8.91** -7.78* 2.31* 12.19** 12.03** 20.06** 13.01**

* Absolute Returns ** Compounded Annualised Returns # S&P CNX 500 ^ Past performance may or may not be sustained in the future $$ Adjusted for the dividends declared under the scheme prior to its splitting into the Dividend and Growth Plans TOP SIP Returns

SIP Investments Total Amount Invested (Rs.)

Since Inceptio n 183,000

15 Year 180,000

10 Year 120,000

5 Year 60,000

3 Year 36,000

1 Year 12,000

Market Value as on June 30, 2011 (Rs.) Returns (Annualised)*( %) Benchmark Returns (Annualised)(%) # Market Value of SIP in Benchmark#


2,741,239.1 2 31.88%

568,236.2 8 29.28%

90,494.0 9 16.48%

52,892.1 0 26.74%

11,998.8 0 -0.02%










328,176.6 8

76,432.1 8

45,793.4 6

11,681.8 7

Past performance may or may not be sustained in the future Inception Date of HDFC TaxSaver is March 31, 1996 * Load is not taken into consideration and the Returns are of Growth Plan / Option. Investors are advised to refer to the Relative Performance table furnished as above for non-SIP returns # Benchmark - S & P CNX 500 Disclaimer: The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. SIP does not assure a profit or guarantee protection against a loss in a declining market. Please refer SIP Enrolment Form or contact nearest ISC for SIP Load Structure.