EquityLarge Cap FundDirectGrowthVery High

HSBC Large Cap Fund

Q: What is the NAV of HSBC Large Cap Fund?

As of 01 Oct 2026, the NAV of HSBC Large Cap Fund is ₹510.70 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HSBC Large Cap Fund delivered?

HSBC Large Cap Fund has returned -2.26% over 1 year, +9.04% per year over 3 years, +8.48% per year over 5 years and +11.97% 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 Large Cap Fund?

HSBC Large Cap Fund charges an expense ratio of 1.41% 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 Large Cap Fund?

HSBC Large Cap Fund's largest holdings are ICICI Bank Limited (9.0%), HDFC Bank Limited (8.0%), Reliance Industries Limited (6.4%), Larsen & Toubro Limited (5.5%) and Shriram Finance Limited (4.8%). Holdings are disclosed monthly and change over time.

Q: How risky is HSBC Large Cap Fund?

HSBC Large Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.2% and its worst peak-to-trough fall in our sample was -36.0%. 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 0.18 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Large Cap Fund's 0.18 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of HSBC Large Cap Fund?

HSBC Large Cap Fund is benchmarked against the NIFTY 100 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages HSBC Large Cap Fund?

HSBC Large Cap Fund is managed by Neelotpal Sahai and Sonal Gupta at HSBC.

Q: How is HSBC Large Cap Fund taxed?

HSBC Large Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

HSBC Mutual Fund · Best Large Cap Mutual Funds

NAV

₹510.70

-0.60% 1D

as of 01 Oct 2026

This is the Direct plan of HSBC Large Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

Compare SIP calculator

Performance

-1.53%CAGR

52-week rangePrev NAV ₹513.80

Latest ₹510.70

Low ₹482.4737th percentile of its 52-week rangeHigh ₹559.64

Scorecard

★★☆☆☆2/5 vs 30 of 34 Large Cap Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Large Cap Fund (same plan and option). 30 of the 34 Large Cap Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +9.04% · ranks 14 of 30 Large Cap Funds

RiskModerate

Volatility 14.2% vs 13.4% category avg

CostHigh

1.4% expense vs 1.1% category avg

ConsistencyHigh

99% 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

Ahead of the Large Cap Fund average on 1M/3M/1Y — 1Y by 1.95pp
Ranks #6 of 33 on 1-year return in its Large Cap Fund cohort
Consistent — positive in 99% of rolling 3-year windows

Concerns

High expense ratio (1.41%) vs the Large Cap Fund average of 1.15%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.41%

Category 1.15%▲0.26%

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

22.77

Category 21.41▲1.36

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

0.18

Category 0.18▼0.00

Scheme Info

Definitions

Plan

Direct · Growth

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

None

If the units redeemed or switched out are upto 10% of the units purchased or switched in (“the limit”) within 1 year from the date of allotment – Nil If units redeemed or switched out are over and above the limit within 1 yearfrom the date of allotment – 1% If units are redeemed or switched out on or after 1 year from the date of allotment – Nil A switch-out or a withdrawal under SWP may also attract an Exit Load like any Redemption. No Exit load will be chargeable in case of switches made between different options of the Scheme. No Exit load will be chargeable in case of Units allotted on account of dividend reinvestments, if any.

Up to 1.00%

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 100 TRI

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.

02 Jan 2013

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

Definitions

Absolute return over the last 1 month (not annualized)

-4.85%

Absolute return over the last 3 months (not annualized)

-3.57%

Absolute return over the last 6 months (not annualized)

+4.24%

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

-7.34%

Annualized returns (≥1Y — CAGR)

Definitions

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

-2.26%

3-year annualized return (CAGR)

+9.04%

5-year annualized return (CAGR)

+8.48%

10-year annualized return (CAGR)

+11.71%

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.

+11.97%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

14.23%

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

0.18

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

0.24

Largest peak-to-trough decline over full history

-36.05%

Benchmark ratios (vs Nifty 100 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 100 TRI

1.30%

Sensitivity to Nifty 100 TRI moves; 1 = moves with the index

0.94

How much of the fund's movement Nifty 100 TRI explains

92.7%

Excess return per unit of beta (market risk)

2.97

Active return over the benchmark per unit of tracking error

0.32

Annualized std dev of fund-minus-benchmark returns

4.03%

Fund's share of benchmark gains in up months (100 = matches index)

99.4%

Fund's share of benchmark losses in down months (lower is better)

91.8%

Computed vs the Nifty 100 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Large Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-4.85%	-5.68%	+0.83%
3M abs	-3.57%	-4.35%	+0.78%
6M abs	+4.24%	+3.82%	+0.42%
1Y CAGR	-2.26%	-4.21%	+1.95%
3Y CAGR	+9.04%	+8.99%	+0.05%
5Y CAGR	+8.48%	+8.17%	+0.31%

Category average across peers in Large Cap Fund (up to 34 funds with data), 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.

Category rank

Vs 34 peers in Large Cap Fund

1Y return

-2.26%

Beats 84.4% · rank #6

3Y return

+9.04%

Beats 55.2% · rank #14

5Y return

+8.48%

Beats 65.4% · rank #10

Sharpe

0.18

Beats 55.2% · rank #14

Sortino

0.24

Beats 51.7% · rank #14

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

₹7.21L

Absolute

+20.18%

XIRR

+7.52%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HSBC Large Cap 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	Nifty 100 TRI	Diff
2026part	-7.34%	-10.54%	+3.20%
2025	+5.78%	+10.40%	-4.62%
2024	+19.42%	+13.11%	+6.31%
2023	+24.69%	+21.72%	+2.97%
2022	+1.46%	+5.03%	-3.57%
2021	+23.86%	+26.41%	-2.55%
2020	+16.96%	+16.49%	+0.47%
2019	+16.12%	+11.77%	+4.35%
2018	-2.46%	+2.35%	-4.81%
2017	+31.47%	+32.57%	-1.10%

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; those years show no benchmark comparison.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Fund manager change — now managed by Sonal Gupta; Mayank Chaturvedi, Dipan S. Parikh stepped away
25 Sep 2026

History points

3,383

Expense ratio

1.41%

AUM

₹1,780Cr

Portfolio turnover

49%

Exit load

P/E ratio

22.8

P/B ratio

4.9

Avg market cap

₹5,31,338Cr

P/E & P/B are portfolio-weighted harmonic means across 32 of 37 equity holdings (90% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

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 · Large Cap Fund

Compare all


HSBC Large Cap FundThis fund HSBC · Direct · Growth	★★☆☆☆	-2.26%	+9.04%	+8.48%	22.77	1.41%	₹1,780Cr
Taurus Large Cap Fund Taurus · Direct · Growth	★★☆☆☆	+6.80%	+13.30%	+9.98%	19.35	2.51%	₹49.42Cr
Invesco India Large Cap Fund Invesco · Direct · Growth	★★★★☆	-0.05%	+12.61%	+10.51%	25.94	0.91%	—
quant Large Cap Fund quant · Direct · Growth	★★★☆☆	+3.36%	+12.50%	—	29.02	1.46%	₹3,172Cr
WhiteOak Capital Large Cap Fund WhiteOak Capital · Direct · Growth	★★★★★	-3.41%	+11.86%	—	21.10	0.92%	₹1,167Cr
Bank of India Large Cap Fund Bank of India · Direct · Growth	★★★☆☆	+1.78%	+11.46%	+9.00%	19.60	1.29%	₹212.41Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap83.7%
Mid cap15.0%
Small cap1.3%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity96.98%
Cash & Equivalents3.02%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Axis Large Cap Fund Axis · Large Cap Fund	63.8%!	★★★☆☆	0.92%	+7.70%
360 ONE ELSS Tax Saver Nifty 50 Index Fund 360 One · Index Funds	63.4%	★★☆☆☆	0.37%	+5.84%
Bandhan Nifty 50 Index Fund Bandhan · Index Funds	63.4%	★★★☆☆	0.16%	+5.52%
Taurus Nifty 50 Index Fund Taurus · Index Funds	63.4%	★★☆☆☆	0.86%	+5.15%
HDFC Nifty 50 Index Fund HDFC · Index Funds	63.4%	★★★☆☆	0.29%	+5.45%
Tata Nifty 50 Index Fund Tata · Index Funds	63.4%	★★★☆☆	0.27%	+5.41%
SBI Nifty Index Fund SBI · Index Funds	63.4%	★★★☆☆	0.23%	+5.46%
UTI Nifty 50 Index Fund UTI · Index Funds	63.4%	★★★☆☆	0.25%	+5.51%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 4.32% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

Sterlite Technologies LimitedLong-term · Stage IV4.32%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-36.0%17 Jan 2020 → 23 Mar 2020
Fell over 2 months, back to the old high on 06 Nov 2020 — 7 months under water after the low.
-22.2%03 Mar 2015 → 25 Feb 2016
Fell over 12 months, back to the old high on 27 Jul 2016 — 5 months under water after the low.
-19.3%17 Jan 2022 → 17 Jun 2022
Fell over 5 months, back to the old high on 30 Nov 2022 — 5 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹1,780Cr

April - June 2026

-4%

since January - March 2026

+₹71.03Cr

est. net flow, last quarter

At or near its largest, ₹1,855Cr in January - March 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

NSNeelotpal SahaiStart date not disclosed

Role

Senior Vice President & Head – Equities

Education

B.Tech, PGDM (IIM Kolkata)

Experience

Over 31 years of experience in research and Fund Management HSBC Asset Management (India) Private Ltd. Director Indian Equities and Head Offshore Advisory (Since March 2020) Senior Vice President and Head of Equities from September 2017 till February 2020 Senior Fund Manager – Equities from April 2013 to August 2017. IDFC Asset Management Company Ltd. Director from February 2006 to April 2013 Motilal Oswal Securities Ltd. Senior Research Analyst from 2005 to January 2006 Infosys Ltd. Senior Project Manager from June 1999 to March 2005 Vickers Ballas Securities Ltd. Analyst from September 1998 to June 1999 SBC Warburg Analyst from May 1997 to May 1998 UTI Securities Ltd. Equity Analyst from June 1995 to May 1997 HCL HP Ltd. Senior Management Trainee from May 1994 to June 1995 Infosys Ltd. Software Programmer from July 1991 to June 1992

Funds managed (2)

All schemes Neelotpal Sahai runs →

SGSonal GuptaStart date not disclosed

Role

Head of Research – Equity

Education

CFA Charter from CFA Institute, USA Post Graduate Diploma in Management from Indian Institute of Management, Bangalore. Bachelors in Mechanical Engineering, Delhi College of Engineering, Delhi University

Experience

Over 22 years of experience HSBC Asset Management (India) Private. Limited as Head Research – Equities (Since November 26, 2022) Prior Assignments: L&T Investment Management Limited as Head of Research – Equity from June 1, 2021 to November 25, 2022 UBS Securities India Pvt Ltd from June 19, 2006 till May 28, 2021 [Director – Equity Research (since Mar’ 2010)]

Funds managed (4)

All schemes Sonal Gupta runs →

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

Neelotpal Sahai Sonal Gupta

Top holdings

ICICI Bank Limited HDFC Bank Limited Reliance Industries Limited Larsen & Toubro Limited Shriram Finance Limited Eternal Limited Sterlite Technologies Limited State Bank of India Bharti Airtel Limited Mahindra & Mahindra Limited Infosys Limited InterGlobe Aviation Limited

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.

Run SIP calculator Add to compare

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 Large Cap funds

Large cap funds invest mainly in India's 100 biggest listed companies. They tend to be steadier than mid- and small-cap funds, with more modest but more dependable growth.

Frequently asked questions

What is the NAV of HSBC Large Cap Fund?

As of 01 Oct 2026, the NAV of HSBC Large Cap Fund is ₹510.70 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HSBC Large Cap Fund delivered?

HSBC Large Cap Fund has returned -2.26% over 1 year, +9.04% per year over 3 years, +8.48% per year over 5 years and +11.97% 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 Large Cap Fund?

HSBC Large Cap Fund charges an expense ratio of 1.41% 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 Large Cap Fund?

HSBC Large Cap Fund's largest holdings are ICICI Bank Limited (9.0%), HDFC Bank Limited (8.0%), Reliance Industries Limited (6.4%), Larsen & Toubro Limited (5.5%) and Shriram Finance Limited (4.8%). Holdings are disclosed monthly and change over time.

How risky is HSBC Large Cap Fund?

HSBC Large Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.2% and its worst peak-to-trough fall in our sample was -36.0%. 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 0.18 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Large Cap Fund's 0.18 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of HSBC Large Cap Fund?

HSBC Large Cap Fund is benchmarked against the NIFTY 100 TRI. Its alpha and beta on this page are measured against that index.

Who manages HSBC Large Cap Fund?

HSBC Large Cap Fund is managed by Neelotpal Sahai and Sonal Gupta at HSBC.

How is HSBC Large Cap Fund taxed?

HSBC Large Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.