FoFFoF DomesticDirectGrowthVery High

HSBC Multi Asset Active FOF

Q: What is the NAV of HSBC Multi Asset Active FOF?

As of 01 Oct 2026, the NAV of HSBC Multi Asset Active FOF is ₹43.36 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HSBC Multi Asset Active FOF delivered?

HSBC Multi Asset Active FOF has returned +9.75% over 1 year, +14.38% per year over 3 years, +11.56% per year over 5 years and +12.53% 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 Multi Asset Active FOF?

HSBC Multi Asset Active FOF charges an expense ratio of 0.59% 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 Multi Asset Active FOF?

HSBC Multi Asset Active FOF's largest holdings are HSBC Large & Mid Cap Fund - Direct Growth (13.7%), HSBC Flexi Cap Fund - Direct Growth (13.6%), HSBC Multi Cap Fund - Direct Growth (13.6%), HSBC Focused Fund - Direct Growth (13.5%) and HSBC Value Fund - Direct Growth (13.4%). Holdings are disclosed monthly and change over time.

Q: How risky is HSBC Multi Asset Active FOF?

HSBC Multi Asset Active FOF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.4% and its worst peak-to-trough fall in our sample was -25.4%. 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 0.69 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Multi Asset Active FOF's 0.69 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of HSBC Multi Asset Active FOF?

HSBC Multi Asset Active FOF is benchmarked against the BSE 200 TRI (65%) + NIFTY Short Duration Debt Index (20%) +Domestic Price of Gold (10%) +Domestic Price of Silver (5%). Its alpha and beta on this page are measured against that index.

Q: Who manages HSBC Multi Asset Active FOF?

HSBC Multi Asset Active FOF is managed by Gautam Bhupal at HSBC.

Q: How is HSBC Multi Asset Active FOF taxed?

HSBC Multi Asset Active FOF is a non-equity fund (a fund-of-funds, gold, international or balanced-hybrid scheme). Since FY 2025-26 it's no longer taxed like a pure-debt fund: gains on units held more than 2 years are long-term, taxed at 12.5% (no indexation, no ₹1.25 lakh exemption); units held 2 years or less are taxed at your income-tax slab rate.

HSBC Mutual Fund · Best Domestic Fund of Funds

NAV

₹43.36

-0.57% 1D

as of 01 Oct 2026

This is the Direct plan of HSBC Multi Asset Active FOF — 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.

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Performance

+10.81%CAGR

52-week rangePrev NAV ₹43.61

Latest ₹43.36

Low ₹38.7767th percentile of its 52-week rangeHigh ₹45.63

Scorecard

★★★☆☆3/5 vs 75 of 155 FoF Domestic 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 FoF Domestic (same plan and option). 75 of the 155 FoF Domestic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +14.38% · ranks 30 of 75 FoF Domestic funds

RiskLow

Volatility 11.4% vs 17.8% category avg

CostHigh

0.6% expense vs 0.2% 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

Less volatile than its FoF Domestic peers (11.4% vs 17.8%)
Consistent — positive in 99% of rolling 3-year windows

Concerns

Trails the FoF Domestic average on 1M/3M/1Y — 1Y by 2.42pp
3-year return (+14.38%) trails the FoF Domestic average (+19.33%)
5-year return (+11.56%) trails the FoF Domestic average (+13.23%)
High expense ratio (0.59%) vs the FoF Domestic average of 0.23%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.59%

Category 0.23%▲0.36%

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

—

Category —

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

0.69

Category 0.69▲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

(i) In respect of each purchase / switch-in of Units, an Exit Load of 1% is payable if Units are redeemed / switched-out within 1 year from the date of allotment. (ii) No Exit Load will be charged, if Units are redeemed/switched-out after 1 year from the date of allotment. The exit loads set forth above is subject to change at the discretion of the AMC and such changes shall be implemented prospectively

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

BSE 200 TRI (65%) + NIFTY Short Duration Debt Index (20%) +Domestic Price of Gold (10%) +Domestic Price of Silver (5%)

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.

05 May 2014

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.79%

Absolute return over the last 3 months (not annualized)

-0.86%

Absolute return over the last 6 months (not annualized)

+8.48%

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

+2.91%

Annualized returns (≥1Y — CAGR)

Definitions

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

+9.75%

3-year annualized return (CAGR)

+14.38%

5-year annualized return (CAGR)

+11.56%

10-year annualized return (CAGR)

+11.87%

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.

+12.53%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

11.36%

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

0.69

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

0.94

Largest peak-to-trough decline over full history

-25.39%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

5.22%

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

0.68

How much of the fund's movement Nifty 500 TRI explains

85.0%

Excess return per unit of beta (market risk)

11.98

Active return over the benchmark per unit of tracking error

0.72

Annualized std dev of fund-minus-benchmark returns

6.78%

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

82.0%

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

45.4%

Computed vs the Nifty 500 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 (FoF Domestic)

Period	Fund	Category avg.	Diff
1M abs	-3.79%	-3.22%	-0.57%
3M abs	-0.86%	-0.25%	-0.61%
6M abs	+8.48%	+3.78%	+4.70%
1Y CAGR	+9.75%	+12.17%	-2.42%
3Y CAGR	+14.38%	+19.33%	-4.95%
5Y CAGR	+11.56%	+13.23%	-1.67%

Category average across peers in FoF Domestic (154 of 155 carry a figure for at least one period), 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 155 peers in FoF Domestic

1Y return

+9.75%

Beats 66.7% · rank #40

3Y return

+14.38%

Beats 60.8% · rank #30

5Y return

+11.56%

Beats 63.5% · rank #20

Sharpe

0.69

Beats 54.1% · rank #35

Sortino

0.94

Beats 52.7% · rank #36

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

₹8.27L

Absolute

+37.83%

XIRR

+13.20%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into HSBC Multi Asset Active FOF, 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 500 TRI	Diff
2026part	+2.91%	-7.18%	+10.09%
2025	+15.25%	+7.94%	+7.31%
2024	+17.13%	+16.43%	+0.70%
2023	+21.70%	+27.43%	-5.73%
2022	+0.11%	+4.34%	-4.23%
2021	+22.60%	+31.59%	-8.99%
2020	+17.10%	+18.33%	-1.23%
2019	+7.84%	+8.95%	-1.11%
2018	-3.55%	-2.33%	-1.22%
2017	+25.63%	+37.35%	-11.72%

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.

History points

3,004

Expense ratio

0.59%

Portfolio turnover

Exit load

Taxation

Taxed as non-equity

This is a non-equity fund — a fund-of-funds, gold/silver, international or balanced-hybrid scheme. It isn't equity-oriented, but since FY 2025-26 it's no longer taxed like a pure-debt fund either: gains held over 2 years get the 12.5% long-term rate; shorter holdings are taxed at your income-tax slab rate.

Short-term

30%

Held under 2 years

Added to your income at your slab rate

Long-term (LTCG)

12.5%

Held 2 years or more

No indexation, no ₹1.25 L exemption

Your income-tax slab

Sets the short-term (slab-rate) figure above.

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 · FoF Domestic

Compare all


HSBC Multi Asset Active FOFThis fund HSBC · Direct · Growth	★★★☆☆	+9.75%	+14.38%	+11.56%	—	0.59%	—
Mirae Asset NYSE FANG + ETF Fund of Fund Mirae Asset · Direct · Growth	★★★★★	+46.31%	+59.01%	+36.50%	—	0.04%	₹2,418Cr
Mirae Asset S&P 500 Top 50 ETF Fund of Fund Mirae Asset · Direct · Growth	★★★★★	+48.18%	+46.49%	+29.85%	—	0.04%	—
Aditya Birla Sun Life Silver ETF FOF Aditya Birla Sun Life · Direct · Growth	★★★★☆	+49.69%	+44.86%	—	—	0.32%	₹1,306Cr
Axis Silver Fund of Fund Axis · Direct · Growth	★★★★★	+48.85%	+43.37%	—	—	0.14%	₹1,209Cr
UTI Silver ETF Fund of Fund UTI · Direct · Growth	★★★★☆	+48.06%	+43.28%	—	—	0.14%	₹620.81Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Other95.51%
Cash & Equivalents4.49%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

HSBC Large & Mid Cap Fund - Direct Growth

13.69%

HSBC Flexi Cap Fund - Direct Growth

13.58%

HSBC Multi Cap Fund - Direct Growth

13.57%

HSBC Focused Fund - Direct Growth

13.53%

HSBC Value Fund - Direct Growth

13.45%

HSBC Medium To Long Duration Fund - Direct Growth

7.38%

NIPPON INDIA MUTUALFUND

4.62%

NIPPON INDIA MUTUALFUND

4.55%

HSBC Mutual Fund

1.12%

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.

-25.4%12 Feb 2020 → 23 Mar 2020
Fell over 40 days, back to the old high on 08 Oct 2020 — 7 months under water after the low.
-15.0%17 Jan 2022 → 17 Jun 2022
Fell over 5 months, back to the old high on 11 May 2023 — 11 months under water after the low.
-12.9%29 Jan 2026 → 23 Mar 2026
Fell over 2 months, back to the old high on 05 Aug 2026 — 4 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.

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

GBGautam BhupalManaging since 21 Oct 2015

Role

Vice President & Fund Manager Equities

Education

PGDBM, CA, CS, B.Com (Hons)

Experience

Over 21 years of experience in Research and Fund Management. HSBC Asset Management (India) Private Limited President & Fund Manager, from October 2015 to February 2022 Vice President – Investment Management, from June 2015 to October 2016. Fund Manager for PMS Portfolios from July 2008 to June 2015 UTI Asset Management Company Equity Research Analyst from May 2004 to June 2008.

Funds managed (5)

All schemes Gautam Bhupal runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. 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

Gautam Bhupal

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.

Frequently asked questions

What is the NAV of HSBC Multi Asset Active FOF?

As of 01 Oct 2026, the NAV of HSBC Multi Asset Active FOF is ₹43.36 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HSBC Multi Asset Active FOF delivered?

HSBC Multi Asset Active FOF has returned +9.75% over 1 year, +14.38% per year over 3 years, +11.56% per year over 5 years and +12.53% 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 Multi Asset Active FOF?

HSBC Multi Asset Active FOF charges an expense ratio of 0.59% 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 Multi Asset Active FOF?

HSBC Multi Asset Active FOF's largest holdings are HSBC Large & Mid Cap Fund - Direct Growth (13.7%), HSBC Flexi Cap Fund - Direct Growth (13.6%), HSBC Multi Cap Fund - Direct Growth (13.6%), HSBC Focused Fund - Direct Growth (13.5%) and HSBC Value Fund - Direct Growth (13.4%). Holdings are disclosed monthly and change over time.

How risky is HSBC Multi Asset Active FOF?

HSBC Multi Asset Active FOF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.4% and its worst peak-to-trough fall in our sample was -25.4%. 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 0.69 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Multi Asset Active FOF's 0.69 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of HSBC Multi Asset Active FOF?

HSBC Multi Asset Active FOF is benchmarked against the BSE 200 TRI (65%) + NIFTY Short Duration Debt Index (20%) +Domestic Price of Gold (10%) +Domestic Price of Silver (5%). Its alpha and beta on this page are measured against that index.

Who manages HSBC Multi Asset Active FOF?

HSBC Multi Asset Active FOF is managed by Gautam Bhupal at HSBC.

How is HSBC Multi Asset Active FOF taxed?

HSBC Multi Asset Active FOF is a non-equity fund (a fund-of-funds, gold, international or balanced-hybrid scheme). Since FY 2025-26 it's no longer taxed like a pure-debt fund: gains on units held more than 2 years are long-term, taxed at 12.5% (no indexation, no ₹1.25 lakh exemption); units held 2 years or less are taxed at your income-tax slab rate.