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Sectoral / Thematic · Equity

HDFC Manufacturing Fund

HDFC Asset Management Company Limited
Benchmark
Nifty India Manufacturing TRI
Riskometer
Very High
Size
₹10,056 cr
Allotted
16 May 2024
Holdings as of
30 Sep 2026

HDFC Manufacturing Fund is a sectoral / thematic fund of HDFC Asset Management Company Limited with ₹10,056 cr under management. It is ahead of its benchmark (Nifty India Manufacturing TRI) in 1 of 1 periods. Its direct plan charges 0.95% a year. Rakesh Sethia has managed it for 2.4 years.

Has HDFC Manufacturing Fund beaten its benchmark?

Ahead of its benchmark, Nifty India Manufacturing TRI, in 1 of 1 periods in AMFI's figures; +3.78% over the last year against +1.84%.

Period returns

Direct Plan, growth · 3y and longer a year
PeriodFundNifty 500 TRIAhead
1 month−4.10% −3.60% —
3 months−0.42% −5.03% —
6 months+6.85% −1.83% —
1 year+3.78% −4.06% +7.84 pts
3 years— +9.27% —
5 years— +8.00% —
10 years— +12.69% —
Since start
from 16 May 2024
+6.13%——
Valarth price history to 13 Oct 2026 · the index is the one the fund is nearest; — not on record

Official figures

AMFI performance feed, 13 Oct 2026
Ahead of its benchmark (Nifty India Manufacturing TRI) in 1 of 1 periods.
PeriodDirectRegularBenchmarkAheadRank
1y +3.78%+2.80%+1.84% +1.94 🔒
3y ——— — —
5y ——— — —
10y ——— — —
Ahead in points a year · its rank among Sectoral / Thematic funds, and how steady the lead is, in the app

Value of 100, month-end

May 2024 to 13 Oct 2026
50100150 2025
Fund 114Nifty 500 TRI 107

₹100 put in at the start of May 2024 would be ₹114 on 13 Oct 2026, against ₹107 in the Nifty 500 TRI.

Risk, falls and every year

🔒 Pro
Its worst fall and how long it took to recover, three-year stretches, Sharpe, beta and capture ratios, calendar years beside the index, and money in and out: in the app.
See them in the app →

What does HDFC Manufacturing Fund cost?

0.95% a year on the direct plan, 1.85% on the regular plan; 31 of 174 funds in its category charge less.

Direct plan
0.95% a year
Category median 1.22%
Regular plan
1.85% a year
Category median 2.38%
Gap
0.90 points
for the same holdings
31 of 174 funds in its category charge less on the direct plan.
Expense report, Oct 2026 · Equity Scheme - Sectoral/ Thematic

What the regular plan costs you over time

🔒 Pro
The same money left for years in the direct and the regular plan, side by side, and what the commission takes: in the app.

Who manages HDFC Manufacturing Fund?

Rakesh Sethia, since 16 May 2024; Gopal Agrawal, since 1 Sep 2026; Bhagyesh Kagalkar, since 26 Aug 2026.

Rakesh Sethia
2.4 years
since 16 May 2024
Gopal Agrawal
0.1 years
since 1 Sep 2026
Bhagyesh Kagalkar
0.1 years
since 26 Aug 2026
Benchmark as filedNIFTY India Manufacturing Index.
Exit load
In respect of each purchase/switch-in of units, an Exit load of 1% is payable if units are redeemed/switched-out within 1 month from the date of allotment. No Exit Load is payable if units are redeemed / switched-out after 1 month from the date of allotment. In respect of Systematic Transactions such as SIP, Flex SIP, STP, Flex STP, Swing STP, Exit Load, if any, prevailing on the date of registration / enrolment shall be levied.
From 7 Scheme Summary Documents filed with NSE, first on 12 Apr 2026; as on 13 Oct 2026

What does HDFC Manufacturing Fund hold?

93 holdings as of 30 Sep 2026; the ten largest are 32.6% of the fund, the largest Divis Laboratories Ltd. at 6.0%.

Mix

Holdings as of 30 Sep 2026
Equity99.3%Debt0.0%Cash0.7%Other0.0%
Holdings
93
91 shares
Top ten
32.6%
of the fund
Effective holdings
50.0
spread, as if equal-weighted
Matched to our table
98%
of the equity

Five largest

% of fund
Divis Laboratories Ltd.6.01%
Reliance Industries Ltd.4.50%
Mahindra & Mahindra Ltd.3.50%
Maruti Suzuki India Limited3.33%
JSW Steel Ltd.3.29%

Five largest industries

% of fund
Pharmaceuticals & Biotechnology15.8%
Automobiles13.1%
Auto Components8.60%
Aerospace & Defense8.40%
Petroleum Products8.10%

By company size

% of equity · SEBI size lists
Large Cap51.2%Mid Cap15.3%Small Cap33.5%

How does HDFC Manufacturing Fund score against its category?

Seven scores against funds of its kind, and the warning signs it trips.

Scorecard

🔒 Pro
Seven scores, each out of 5, against funds in its category, with the reasons, and the warning signs it trips: in the app.
Open scorecard in the app →

Are the companies inside any good?

The holdings by valuation, forensic risk, business quality and balance sheet, weighted by their share of the fund.

The companies inside

🔒 Pro
The holdings weighted by their share of the fund: P/E and ROE, forensic risk levels, Valarth's valuation view, quality, moats, balance sheets and who owns them: in the app.

How is HDFC Manufacturing Fund run?

Turnover, what it bought and sold, its cash and its record in new listings, from its monthly holdings files.

How it is run

🔒 Pro
Turnover, what it bought and sold and when, how long it holds, size drift, cash and its record in new listings, from up to two years of monthly holdings files: in the app.

Which funds hold much the same?

The index it is nearest and the funds whose holdings overlap most.

not an index tracker
Nearest to the Nifty Next 50: 77% of it differs from the index (an active fund is usually above 60%).
Active share 76.8%60%

Funds that hold much the same

% of holdings in common
Nippon India Nifty India Manufacturing Index Fund47.5% the same
34 shared holdings
Mirae Asset Nifty India Manufacturing ETF47.5% the same
34 shared holdings
Nippon India Nifty India Manufacturing ETF47.5% the same
34 shared holdings

How much is in its sponsor's own group?

Holdings in companies of the fund house's sponsor group, beside the index.

Related-party exposure

🔒 Pro
How much of the fund is in companies of its sponsor's own group, beside what the index holds of them: in the app.

Questions people ask

Who manages HDFC Manufacturing Fund?

Rakesh Sethia (manager) since 16 May 2024; Gopal Agrawal (manager) since 1 Sep 2026; Bhagyesh Kagalkar (manager) since 26 Aug 2026.

What is the expense ratio of HDFC Manufacturing Fund?

0.95% a year on the direct plan and 1.85% on the regular plan (expense report, Oct 2026).

Inside the app

See HDFC Manufacturing Fund beside your own funds in Valarth

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HDFC Manufacturing Fund in the app: beside your own funds, with what you own through them

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