Morningstar: Mutual Fund Guide

HDFC Corporate Bond Fund Investment Strategy The fixed-income team at HDFC has carved a niche for itself in running high quality low-duration strategies, which is the premise of this fund. After managing this fund since its inception in December 2012, portfolio manager Shobhit Mehrotra handed over its mantle to Anupam Joshi in October 2015. The investment approach relies on fundamental research. It entails combining qualitative aspects with quantitative analysis. The investment team prepares the coverage list with a strong focus on the company management and track record, financial strength of the promoter group, and corporate governance standards. Meetings with management are followed by rigorous quantitative analysis to get a measure of the company’s creditworthiness. The team also draws on the expertise of its equity team. The fund company uses a proprietary model in which...