Offer Document

HDFC Short Term Plan

An Open Ended Income Scheme

Offer of Units at Rs. 10
each for cash at par
during the Initial Offer Period
and thereafter at NAV based prices

Sponsor :

Housing Development Finance

Corporation Limited

Registered Office : Ramon House,

H. T. Parekh Marg,

169, Backbay Reclamation,

Churchgate, Mumbai 400 020

Asset Management Company :

HDFC Asset Management Company Limited

A Joint Venture with Standard Life Investments

Registered Office : Ramon House,

3rd Floor, H. T. Parekh Marg,

169, Backbay Reclamation,

Churchgate, Mumbai 400 020

Trustee :

HDFC Trustee Company Limited

Registered Office : Ramon House,

3rd Floor, H. T. Parekh Marg,

169, Backbay Reclamation,

Churchgate, Mumbai 400 020

This Offer Document sets forth concisely the information about the Scheme that a prospective investor ought to know before investing. This Offer Document should be retained for future reference. The particulars of the Scheme have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended till date, and filed with the Securities and Exchange Board of India and the Units being offered for the public subscription have not been approved or disapproved by the Securities and Exchange Board of India nor has the Securities and Exchange Board of India certified the accuracy or adequacy of this Offer Document. This Offer Document will remain effective till a “Material Change” (other than a change in fundamental attributes and within the purview of this Offer Document) occurs and thereafter the changes shall be filed with the Securities and Exchange Board of India and circulated to the Unit holders along with the quarterly / half yearly reports. Investors may also like to ascertain about any further changes after the date of this Offer Document from the Mutual Fund/it’s Investor Service Centres/distributors or brokers. This Offer Document is dated January 16, 2002.

Initial Offer Opens : --------, 2002 Initial Offer Closes : -------, 2002

Sponsor

Housing Development Finance Corporation Limited

Registered Office:

                                                        Ramon House,
                                                        H. T. Parekh Marg,
                                                        169, Backbay Reclamation,
                                                        Churchgate, Mumbai 400 020

Trustee

HDFC Trustee Company Limited

Registered Office:

                                                        Ramon House, 3rd Floor,
                                                        H. T. Parekh Marg,
                                                        169, Backbay Reclamation,
                                                        Churchgate, Mumbai 400 020

Asset Management Company

HDFC Asset Management Company Limited
A Joint Venture with Standard Life Investments

Registered Office:

Registrar and Transfer agent

                                                        Computer Age Management Services (Private) Limited
                                                        A & B, Lakshmi Bhawan
                                                        609, Anna Salai
                                                        Chennai 600 006

Custodian

                                                        HDFC Bank Limited
                                                        Kamala Mills Compound,
                                                        Senapati Bapat Marg,
                                                        Lower Parel,
                                                        Mumbai 400 013

Statutory Auditors to the Scheme

                                                        S.B.Billimoria & Co.
                                                        Chartered Accountants
                                                        Meher Chambers,
                                                        R. Kamani Road,
                                                        Ballard Estate,
                                                        Mumbai 400 001

Legal Advisors

            Dave & Girish & Co.
                        Sethna Building, 1st Floor,
                        55, Maharishi Karve Road,
                        Marine Lines,
                        Mumbai 400 002

Page No.
1	Risk Factors	i
2	Highlights	ii
3	Definitions	1
4	Due Diligence Certificate	3
	SECTION I
5	Summary – HDFC Short Term Plan	4
6	Constitution of the Mutual Fund	5
	a) The Mutual Fund	5
	b) The Sponsor	5
	– Organisation & Management	5
	– Branch Network	5
	– Financial Performance	5
	– Strategic Alliance	5
	c) The Trustee	5
	i. The Board of Directors	5
	ii. Fees and Expenses	8
	iii. Rights, Obligations, Responsibilities and Duties of the Trustee	8
	d) The Asset Management Company
	i. Directors	10
	ii. Duties & Responsibilities of the AMC	13
	iii. Key Employees of the AMC and relevant experience	14
	e) Statutory Auditors	21
	f) Custodian	21
	g) Registrar and Transfer Agent	21
	h) Collecting Bankers	21
	SECTION II
7	Investment Objective & Policy	25
	a) Fundamental Attributes of HDFC Short Term Plan	25
	b) Investment Restrictions	28
	c) Computation of Net Asset Value	28
	d) Accounting Policies & Standards	29
	SECTION III
8	Units & The Initial Offer	31
	a) General Information	31
	i. Initial Offer	31
	ii. Initial Offer Period and Offer Price	31
	iii. Extension of the Initial Offer Period	31
	iv. Minimum Amount for Application	31
	v. Minimum Subscription Amount	31
	vi. Allotment and Refund	31
	b) Plans offered under the Scheme	31
	i. Growth Plan	31
	ii. Dividend Reinvestment Plan	31
	c) Systematic Investment Plan (SIP)	31
	d) Systematic Withdrawal Plan (SWP)	32
	e) Switching Options	32
	f) Who can invest?	32
	g) How to apply?	33
	h) Nomination Facility	34
	i) Pledge of Units	34
	j) Sale of Units on an ongoing basis

Offer Document

An Open Ended Income Scheme

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