DebtLiquid FundRegularIDCWLow

HSBC Liquid Fund

Q: What is the NAV of HSBC Liquid Fund?

As of 06 Oct 2026, the NAV of HSBC Liquid Fund is ₹1,107.46 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HSBC Liquid Fund delivered?

HSBC Liquid Fund has returned -0.11% over 1 year, -0.02% per year over 3 years, 0.00% per year over 5 years and -0.02% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of HSBC Liquid Fund?

HSBC Liquid Fund charges an expense ratio of 0.22% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of HSBC Liquid Fund?

HSBC Liquid Fund's largest holdings are 91 Days Treasury Bill 27-Nov-2026 (4.7%), 91 Days Treasury Bill 24-Sep-2026 (3.7%), 91 Days Treasury Bill 29-Oct-2026 (3.0%), Bank of Baroda (2.4%) and Union Bank of India (2.4%). Holdings are disclosed monthly and change over time.

Q: How risky is HSBC Liquid Fund?

HSBC Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.8% and its worst peak-to-trough fall in our sample was -0.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of -8.30 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Liquid Fund's -8.30 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of HSBC Liquid Fund?

HSBC Liquid Fund is benchmarked against the NIFTY Liquid Index A-I. Its alpha and beta on this page are measured against that index.

Q: Who manages HSBC Liquid Fund?

HSBC Liquid Fund is managed by Abhishek Iyer and Rahul Totla at HSBC.

Q: How is HSBC Liquid Fund taxed?

HSBC Liquid Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

HSBC Mutual Fund · Best Liquid Mutual Funds

NAV

₹1,107.46

-0.13% 1D

as of 06 Oct 2026

This is the Regular plan of HSBC Liquid Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed weekly, which is why this NAV sits below the growth plan of the same fund.

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This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns (+6.84% 3Y CAGR)

NAV history

-0.09%CAGR

52-week rangePrev NAV ₹1,108.87

Latest ₹1,107.46

Low ₹1,107.460th percentile of its 52-week rangeHigh ₹1,109.65

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Liquid Fund peers to rank yet

Risk—

Volatility 0.8% (no category average yet)

Cost—

0.2% expense (no category average yet)

ConsistencyLow

28% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

No standout strengths identified.

Concerns

Positive in only 28% of rolling 3-year windows

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.22%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

-8.30

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Following exit load shall be applicable for investors who exit (by way of redemption / switch-out / transfer) within 7 calendar days from the date of investment. Day 1 - 0.0070%, Day 2 - 0.0065%, Day 3 - 0.0060%, Day 4 - 0.0055%, Day 5 - 0.0050%, Day 6 - 0.0045%, Day 7 onwards - 0.0000% The holding period of 7 calendar days, for determination of applicability of exit load, shall be calculated from the value date [i.e., applicable Net Asset Value (NAV) date] of investment and not from the date of transaction. It may be noted that purchase transactions under systematic transactions registered prior to October 20, 2019 (Effective Date), shall also be subject to exit load as above.

Up to 0.01%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

NIFTY Liquid Index A-I

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

30 Dec 2012

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-0.13%

Absolute return over the last 3 months (not annualized)

-0.10%

Absolute return over the last 6 months (not annualized)

-0.08%

Absolute return since 1 Jan of this year (not annualized)

-0.04%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-0.11%

3-year annualized return (CAGR)

-0.02%

5-year annualized return (CAGR)

0.00%

10-year annualized return (CAGR)

-0.03%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

-0.02%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.78%

Excess return per unit of total volatility (rf = 6.5%)

-8.30

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

-7.41

Largest peak-to-trough decline over full history

-0.52%

Benchmark ratios

Not shown for Liquid Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Liquid Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.13%	—	—
3M abs	-0.10%	—	—
6M abs	-0.08%	—	—
1Y CAGR	-0.11%	—	—
3Y CAGR	-0.02%	—	—
5Y CAGR	0.00%	—	—

Category average across peers in Liquid Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹6.00L

Absolute

-0.05%

XIRR

-0.02%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HSBC Liquid Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	-0.04%
2025	+0.04%
2024	-0.12%
2023	+0.05%
2022	+0.04%
2021	+0.01%
2020	-0.35%
2019	0.00%
2018	+0.01%
2017	+0.04%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

4,069

Expense ratio

0.22%

AUM

₹23,171Cr

YTM

6.10%

Macaulay duration

1.27 years

Exit load

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Liquid Fund

Compare all


HSBC Liquid FundThis fund HSBC · Regular · Weekly IDCW	—	-0.11%	-0.02%	0.00%	—	0.22%	₹23,171Cr
Franklin India Liquid Fund - Regular Plan - Unclaimed Franklin Templeton · Regular · IDCW	—	+6.52%	+6.97%	+6.40%	—	0.20%	₹5,992Cr
UTI - Liquid Fund UTI · Regular · Half-Yearly IDCW	—	+6.48%	+6.88%	+6.32%	—	0.25%	₹30,162Cr
Edelweiss Liquid Fund Edelweiss · Regular · IDCW	—	+6.45%	+6.86%	+5.90%	—	0.17%	₹13,846Cr
UTI - Liquid Fund UTI · Regular · Annual IDCW	—	+6.42%	+6.85%	+6.31%	—	0.25%	₹30,162Cr
UTI - Liquid Fund UTI · Regular · Flexi IDCW	—	+6.42%	+6.85%	+6.31%	—	—	₹1.80Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt92.86%
Cash & Equivalents7.14%

Fund size over time

Quarterly average AUM · AMFI

₹23,171Cr

July - September 2026

+27%

since January - March 2026

+₹3,562Cr

est. net flow, last quarter

At or near its largest, ₹23,171Cr in July - September 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

HSBC Mutual Fund is the Indian arm of HSBC Asset Management and has operated here since 2002. It roughly tripled in size by acquiring L&T Mutual Fund in 2022 and merging the two line-ups.

Launched

26 May 2002

Total AUM

₹1,56,995Cr+9.8% QoQ

Avg AUM · July - September 2026

Website

assetmanagement.hsbc.co.in/en

Fund Managers

AIAbhishek IyerManaging since 01 Apr 2025

Education

• Master in Finance Management - Thakur Institute of Management • Bachelor of Commerce -Vivek College of Commerce

Experience

Over 18 years of experience HSBC Asset Management (India) Private Limited as SVP – Fund Management Fixed Income (Since March, 2025) Prior Assignments: Mirae Asset Mutual Fund (India) Private Limited – AVP Fund Manager from April 2017 till March 2025 IDBI Asset Mutual Fund (India) Private Limited – Asst. Manager - Dealing Fixed Income from September 2014 till April 2017 IIFL Asset Mutual Fund (India) Private Limited – Asst. Manager - Dealing Fixed Income from April 2013 till August 2014 L&T Asset Mutual Fund (India) Private Limited – Asst. Dealer & Credit Analyst - from June 2011 till March 2013 Sahara Mutual Fund (India) Private Limited – Associate Dealer/Operations from June 2007 till June 2011

Funds managed (3)

All schemes Abhishek Iyer runs →

RTRahul TotlaManaging since 01 Jan 2026

Role

VP Fund Management – Fixed Income

Education

BE (Electronics), MBA (Finance)

Experience

16 HSBC Global Asset Management Company Ltd. VP Fund Management – Fixed Income from March 2017 onwards. Prior Assignments: IDBI Asset Management Company Ltd. Dealer – Fixed Income from November 2014 to March 2017. ING Investment Management Ltd. Dealer – Fixed Income from January 2014 to October 2014. Edelweiss Asset Management Company Ltd. Assistant Fund Manager – Fixed Income from July 2011 to Dec. 2013. Godfrey Phillips India Ltd. Deputy Manager – Operations from November 2005 to April 2008. 17 PUBLIC

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Abhishek Iyer

HSBC in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Liquid funds

Liquid funds invest in very short-term debt (maturing within 91 days). They're used to park money for days or weeks — low risk and easy to redeem, but low return too.

Frequently asked questions

What is the NAV of HSBC Liquid Fund?

As of 06 Oct 2026, the NAV of HSBC Liquid Fund is ₹1,107.46 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HSBC Liquid Fund delivered?

HSBC Liquid Fund has returned -0.11% over 1 year, -0.02% per year over 3 years, 0.00% per year over 5 years and -0.02% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of HSBC Liquid Fund?

HSBC Liquid Fund charges an expense ratio of 0.22% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of HSBC Liquid Fund?

HSBC Liquid Fund's largest holdings are 91 Days Treasury Bill 27-Nov-2026 (4.7%), 91 Days Treasury Bill 24-Sep-2026 (3.7%), 91 Days Treasury Bill 29-Oct-2026 (3.0%), Bank of Baroda (2.4%) and Union Bank of India (2.4%). Holdings are disclosed monthly and change over time.

How risky is HSBC Liquid Fund?

HSBC Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.8% and its worst peak-to-trough fall in our sample was -0.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of -8.30 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Liquid Fund's -8.30 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of HSBC Liquid Fund?

HSBC Liquid Fund is benchmarked against the NIFTY Liquid Index A-I. Its alpha and beta on this page are measured against that index.

Who manages HSBC Liquid Fund?

HSBC Liquid Fund is managed by Abhishek Iyer and Rahul Totla at HSBC.

How is HSBC Liquid Fund taxed?

HSBC Liquid Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.