HDFC Asset Management Company Ltd (AMC) was incorporated under the
Companies Act, 1956, on December 10, 1999, and was approved to act as an
Asset Management Company for the HDFC Mutual Fund by SEBI on June 30, 2000.
The registered office of the AMC is situated at Ramon House, 3rd Floor,
H.T. Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai - 400
020.
In terms of the Investment Management Agreement, the Trustee has appointed the AMC to manage the Mutual Fund.
As per the terms of the Investment Management Agreement, the AMC will conduct
the operations of the Mutual Fund and manage assets of the schemes,
including the schemes launched from time to time.
The present shareholding pattern of the AMC is as follows: Zurich Insurance Company (ZIC), the Sponsor of Zurich India Mutual
Fund, following a review of its overall strategy, had decided to divest
its Asset Management business in India. The AMC had entered into an
agreement with ZIC to acquire business.
After obtaining the regulatory approvals, Zurich India's all Mutual Fund migrated to HDFC
Mutual Fund on June 19, 2003.
Sponsers
Housing Development Finance Corporation Limited (HDFC)
HDFC was incorporated in 1977 as the first specialised housing finance
institution in India. HDFC provides financial assistance to
individuals, corporates and developers for the purchase or construction
of residential housing. It also provides property related services
(e.g. property identification, sales services and valuation), training
and consultancy. Of these activities, housing finance remains the
dominant activity. HDFC currently has a client base of over 8,00,000
borrowers, 12,00,000 depositors, 92,000 shareholders and 50,000 deposit
agents. HDFC raises funds from international agencies such as the World
Bank, IFC (Washington), USAID, CDC, ADB and KfW, domestic term loans
from banks and insurance companies, bonds and deposits. HDFC has
received the highest rating for its bonds and deposits program for the
ninth year in succession. HDFC Standard Life Insurance Company Limited,
promoted by HDFC was the first life insurance company in the private
sector to be granted a Certificate of Registration (on October 23,
2000) by the Insurance Regulatory and Development Authority to transact
life insurance business in India
Standard Life Investments Limited
he Standard Life Assurance Company was established in 1825 and has
considerable experience in global financial markets. In 1998, Standard
Life Investments Limited became the dedicated investment management
company of the Standard Life Group and is owned 100% by The Standard
Life Assurance Company. With global assets under management of
approximately US$186.45 billion as at March 31, 2005, Standard Life
Investments Limited is one of the world's major investment companies
and is responsible for investing money on behalf of five million retail
and institutional clients worldwide. With its headquarters in
Edinburgh, Standard Life Investments Limited has an extensive and
developing global presence with operations in the United Kingdom,
Ireland, Canada, USA, China, Korea and Hong Kong. In order to meet the
different needs and risk profiles of its clients, Standard Life
Investments Limited manages a diverse portfolio covering all of the
major markets world-wide, which includes a range of private and public
equities, government and company bonds, property investments and
various derivative instruments. The company's current holdings in UK
equities account for approximately 2% of the market capitalization of
the London Stock Exchange.
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