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HDFC Securities NAV Glitch: Investors Face Up to 70% Loss Display

By Business DeskHDFC Securities NAV Glitch: Investors Face Up to 70% Loss Display

HDFC Securities’ InvestRight platform showed a major NAV glitch on Aug 20, displaying up to 70% losses for mutual fund investors. Issue resolved.

HDFC Securities customers encountered a significant display error on their ‘InvestRight’ platform on August 20, as mutual fund Net Asset Values (NAVs) inaccurately indicated portfolio losses reaching up to 70 percent.

This glitch led to investors observing substantial decreases in their portfolio valuations, with some reporting losses of nearly Rs 1 lakh.

Key Figures from the Glitch

  • Portfolio losses displayed: Up to 70 percent
  • Individual investor losses reported: Nearly Rs 1 lakh
  • Resolution time: Approximately 12:40 pm on August 20

The issue gained widespread attention on social media platforms like X, where users highlighted drastic drops in specific funds, including Nippon Multicap Fund and Nippon India Small Cap Fund-Growth.

Company Clarification and Resolution

HDFC Securities promptly addressed the problem, clarifying that the erroneous display stemmed from incorrect NAV data provided by their data service provider.

Mangalam Ganesh, Chief Technology Officer at HDFC Securities, confirmed that this was a global issue originating with their provider, reassuring clients that their actual investments remained unaffected.

The company stated that the problem was solely a display error, with the data service provider resolving the issue by approximately 12:40 pm on August 20.

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