Fundalysisby DARKHORSESTOCKS

Scheme

HDFC Multi Asset Allocation Fund

Holds 78 companies worth ₹4,116 Cr in Sept 2026.

  • Fund house

    HDFCThe fund house that runs this scheme.

  • AUM

    ₹5,782 CrHDFC Multi Asset Allocation Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 4.1% on Aug 2026, ₹6,031 Cr.

  • Largest holding

    HDFC BankHDFC Bank is 0.0% of this scheme's NAV.

  • Fund manager

    Anil BamboliRuns it since 17 Aug 2005, as the fund house dates it. With Ihab Dalwai (fund manager), Bhagyesh Kagalkar (gold & silver), Arun Agarwal (arbitrage), Nandita Menezes (arbitrage), Gopal Agrawal (overseas).

Overview(14 Sept 2026)

Fund managers6

  1. Anil BamboliFund manager, debt · Aug 2005 · 31y · CFA MMS B.Com
  2. Ihab DalwaiFund manager, equity · Sept 2026 · 14y
  3. Bhagyesh KagalkarGold & silver · Feb 2022 · 31y · MMS B.E.
  4. Arun AgarwalArbitrage · Feb 2022 · 25y · CA B.Com
  5. Nandita MenezesArbitrage · Mar 2025
  6. Gopal AgrawalOverseas · Sept 2026 · 21y · B.E.

    Key facts

    Benchmark
    65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index+ 10% Domestic Price of Gold+ 2.5% Domestic Price of Silver
    Risk
    Very High
    Expense
    Regular 2.01% · Direct 1.01%
    Exit load
    1% within 12 months
    Started
    17 Aug 2005
    Minimum
    ₹100

    Source.Its Scheme Summary Document as of 14 Sept 2026 at AMFI.

    What changed(30 changes)

    Sept 2026

    7 changes
    1. Expense ratio
      14 SeptRegular 2.03% → 2.01%Direct 1.03% → 1.01%
    2. Renamed
      14 SeptHDFC Multi-Asset Allocation Fund → HDFC Multi Asset Allocation Fund
    3. Category
      14 SeptMulti Asset Allocation → Multi Asset Allocation Fund
    4. Ihab Dalwai joined
      11 Septas fund manager (equity)
    5. Gopal Agrawal joined
      11 Septfor overseas investments
    6. Dhruv Muchhal left
      11 Septran it for overseas investments from Jun 2023
    7. Srinivasan Ramamurthy left
      11 Septran it as fund manager (equity) from Jan 2022

    Aug 2026

    1 change
    1. Expense ratio
      13 AugDirect 1.04% → 1.03%

    Jul 2026

    1 change
    1. Expense ratio
      14 JulRegular 1.82% → 2.03%Direct 0.85% → 1.04%

    Source.Its filings at NSE, since Sept 2024.

    Fund managers over time(Aug 2005 – now)

    1. Anil Bamboli
    2. Ihab Dalwai
    3. Bhagyesh Kagalkar
    4. Arun Agarwal
    5. Nandita Menezes
    6. Gopal Agrawal
    7. Dhruv Muchhal
    8. Srinivasan Ramamurthy
    9. Nirman Morakhia
    MainCoSlice200620102014201820222026
    Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

    Costs(Sept 2024 – Sept 2026)

    Every change to the expense ratio, newest first.
    18 changesRegularDirectΔ pt
    14 Sept 20262.01%1.01%0.02
    13 Aug 20262.03%1.03%0.01
    14 Jul 20262.03%1.04%0.19
    11 Jun 20261.82%0.85%2.43
    12 May 20264.30%3.28%2.46
    12 Apr 20261.87%0.82%0.01
    10 Feb 20261.86%0.81%0.01
    13 Jan 20261.87%0.82%0.01
    11 Dec 20251.88%0.81%0.05
    12 Nov 20251.87%0.76%0.01
    14 Oct 20251.88%0.77%0.01
    14 Aug 20251.89%0.78%0.01
    14 Jul 20251.88%0.77%0.01
    12 May 20251.89%0.78%0.15
    27 Mar 20251.90%0.93%0.14
    1 Jan 20251.91%0.79%0.05
    14 Nov 20241.91%0.74%0.02
    15 Sept 20241.93%0.76%–
    Direct plan, 14 Sept 2026
    1.01%
    Regular plan 2.01% · Exit load 1% within 12 months
    Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

    Objective and risk(14 Sept 2026)

    Objective

    The objective of the Scheme is to generate long term capital appreciation / income by investing in a diversified portfolio of equity & equity related instruments, debt & money market instruments, Commodities ETFs such as Gold/Silver/other Commodities ETFs as permitted and Exchange Traded Commodity Derivatives. There is no assurance that the investment objective of the Scheme will be achieved.

    Risk, type and benchmark

    Riskometer
    Very High
    Type
    An open-ended scheme investing in Equity and Equity related instruments, Debt & Money Market Instruments, Gold/Silver/other permitted Commodities ETFs and Exchange Traded Commodity Derivatives.
    Benchmark
    65% Nifty 50 TRI + 22.5% Nifty Composite Debt Index+ 10% Domestic Price of Gold+ 2.5% Domestic Price of Silver

    Asset allocation it may hold% of NAV

    1. Equity and equity related instruments
      Allowed65–80%Holds5.3%
    2. Debt Securities (including securitised debt) and money market instruments
      Allowed10–25%Holds94.7%
    3. Commodities ETFs such as Gold/Silver/other Commodities as permitted,ETCDs and Units of Mutual Fund
      Allowed10–25%
    4. Units issued by InvITs
      Allowed0–10%Holds0.0%

    Holds in Sept 2026.5.3% equity · 94.7% debt and cash

    How to invest(14 Sept 2026)

    Buying

    To start
    ₹100, then any amount
    To add
    ₹100, then any amount
    Systematic
    For Systematic Investmet Plan (SIP) Daily, Weekly, Monthly, Quarterly, Half Yearly and Yearly For Systematic Withdrawal Advantage Plan (SWAP) Fixed SWAP - Monthly, Quarterly, Half Yearly, Yearly Variable SWAP - Quarterly, Half Yearly, Yearly For Sytematic Transfer Plan (STP) Fixed Systematic Transfer Plan (FSTP) - Daily, Weekly, Monthly, Quarterly Capital Appreciation Systematic Transfer Plan (CASTP) - Monthly, Quarterly
    Dates
    SIP: For Daily SIP- All Business Days For Weekly SIP- Any business day between Monday to Friday, (Default date is Wednesday) For all other frequnecies - Any date fo the month. If it happens to be a non-Business Day, SIP will be processed on the next Business Day (Default date = 10th of the month) SWP: For Fixed and Variable SWP- Any date. Default Date: 25th STP For Daily FSTP- All Business days For Weekly FSTP-Monday,Tuesday,Wednesday,Thursday,Friday (Default Day) For Monthly FSTP and CASTP - 1,5,10#,15,20,25 For Quarterly FSTP and CASTP - 1,5,10#,15,20,25 #Default Date
    Minimum
    For SIP DSIP, WSIP, MSIP - Rs. 100; QSIP - Rs. 1500; HSIP - Rs. 2500; YSIP - Rs. 5000. For SWAP Fixed SWAP - Rs. 100; Variable SWAP - Rs. 300. For STP Fixed STP (FSTP) Daily FSTP - Rs. 500; Weekly FSTP - Rs. 500; Monthly FSTP - Rs. 1000; Quarterly FSTP -Rs. 3000. Capital Appreciation STP (CASTP) Monthly CASTP - Rs. 300; Quarterly CASTP - Rs 1000., then for SIP and SWAP Re. 1/- thereafter; For STP FSTP Daily, Monthly, Quarterly FSTP - Rs. 100 thereafter Weekly FSTP - any amount thereafter CASTP Mulitples will be based on the appreciated amount
    Instalments
    SIP: Minimum number of installments under DSIP- 2 Minimum number of Installments under WSIP and MSIP : - In respect of each SIP Installment between Rs.300 to Rs.499 in value - 20 - In respect of each SIP Installment between Rs.500 to Rs.999 in value - 12. In respect of each SIP Installment equal to or greater than Rs 1,000 in value - 6 Minimum number of installments under QSIP : - In respect of each SIP Installment between Rs.1,500 to Rs.2,999 in value- 4; In respect of each SIP Installment equal to or greater than Rs. 3,000 in value- 2 Minimum number of installments under HYSIP: - In respect of each SIP Installment equal to or greater than Rs. 2,500 in value- 2 Minimum number of installments under YSIP: - In respect of each SIP Installment equal to or greater than Rs. 5,000 in value- 1 SWP: For Fixed and Variable SWP- 2 STP: Under Daily FSTP: -where installment amount is less than Rs. 1,000 : 12 - where installment amount is equal to or greater than Rs. 1,000: 6 Under Weekly STP : - Where installment amount is less than Rs. 1,000: 12 installments - Where installment amount is equal to or greater than Rs. 1,000: 6 installments However, for weekly STP in equity linked savings schemes, there should be a minimum of 6 installments for enrollment. Under Monthly FSTP & Monthly CASTP : - Minimum 6 installments, Under Quarterly FSTP & Quarterly CASTP : - Minimum 2 installments. Further, the minimum balance in the Unit holders account or the minimum amount of application at the time of enrolment for STP in the Transferor Scheme should be Rs. 12,000. There will be no maximum duration for STP enrolment.

    Selling and switching

    To redeem
    Rs.100 and and multiples of Rs.1 thereafter or No minimum redemption criterion for Unit based redemption units
    Minimum balance
    There is no minimum balance amount requirement. or There is no minimum balance amount in units requirement. units
    Switch minimum
    Switch - in: Rs.100 and any amount thereafter. Additional Amount:. Rs. 100 Switch-out :Rs. 100 and multiples of Rs. 1/- thereafter
    Switch multiples
    Any amount
    Switch most
    Switch in: Not Applicable Switch out: Not applicable. or Switch in: Not Applicable. Switch out: Not applicable. units

    Scheme details(14 Sept 2026)

    What it is

    Category
    Multi Asset Allocation Fund
    Offer
    11 Jul 2005 to 26 Jul 2005
    Started
    17 Aug 2005
    Plans
    Plans:Regular and Direct. Each Plan offers the following sub-options: · a)Growth Option. · b)Income Distribution cum Capital Withdrawal (IDCW) Option. This Option offers following Sub-Options / facilities: · • Payout of Income Distribution cum Capital Withdrawal (IDCW) Option / facility and · • Re-investment of Income Distribution cum Capital Withdrawal (IDCW) Option / facility.
    Face value
    ₹10
    Listed
    No

    How it is run

    Swing pricing
    No
    Side-pocketing
    No
    Custodian
    Citibank N.A
    Auditor
    S.R. Batliboi & Co. LLP – Chartered Accountants
    Registrar
    Computer Age Management Services Limited
    SEBI code
    HDFC/O/H/MAA/18/03/0037