This is the Regular plan of HSBC Gilt Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★☆☆☆☆1/5 vs 27 Gilt 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 Gilt Fund (same plan and option).
3Y CAGR +4.64% · ranks 23 of 26 Gilt Funds
Volatility 3.1% vs 3.1% category avg
1.6% expense vs 1.2% category avg
100% 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
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- 1-year return (+0.57%) trails the Gilt Fund average (+2.00%)
- 3-year return (+4.64%) trails the Gilt Fund average (+5.54%)
- High expense ratio (1.60%) vs the Gilt Fund average of 1.17%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Gilt Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -0.39% | -0.44% | +0.05% |
| 3M abs | -1.35% | -1.15% | -0.20% |
| 6M abs | +3.30% | +3.84% | -0.54% |
| 1Y CAGR | +0.57% | +2.00% | -1.43% |
| 3Y CAGR | +4.64% | +5.54% | -0.90% |
| 5Y CAGR | — | +4.91% | — |
Category average across peers in Gilt Fund (up to 27 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 27 peers in Gilt Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
36 monthly installments of ₹10,000 into HSBC Gilt 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 | +0.68% | |
| 2025 | +3.32% | |
| 2024 | +8.19% | |
| 2023 | +5.62% | |
| 2022part | +0.12% |
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.
Taxation
Taxed as debtThis 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.
Your income-tax slab — no LTCG or indexation benefit
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.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt89.03%
- Cash & Equivalents10.97%
Fund size over time
Quarterly average AUM · AMFIDown +20% from its peak of ₹218.70Cr 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.
Fund Managers
MRMohd Asif RizwiStart date not disclosed
VP Dealing Fixed Income
PUBLIC PGDM from IIM Calcutta & B. Tech (Chemical Engineering) from IIT Bombay
Over 16 years of experience HSBC Asset Management (India) Private. Limited as SVP - Fund Management - Fixed Income (Since January 16, 2024) as SVP - Dealing - Fixed Income (from March 1, 2023 to January 15, 2024) as VP - Dealing - Fixed Income (from November 26, 2022 to February 28, 2023) Prior Assignments: L&T Investment Management Ltd. as Senior Dealer in Fixed Income since May 11, 2020 to November 25, 2022 Yes Bank Ltd as Executive Vice President from April 2020, 2015 to May 08, 2020. ICICI Bank Ltd. as Senior Manager from May 9, 2012 to April 18, 2015. Deutsche Bank Global Markets Centre as Senior Analyst from July 2007 to May 2010.
- HSBC Arbitrage Fund
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- HSBC Banking and PSU Debt Fund
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- HSBC Corporate Bond Fund
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- HSBC CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund
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- HSBC Equity Savings Fund
- HSBC Medium to Long Term Fund
- HSBC Multi Asset Allocation Fund
- HSBC Short Duration Fund
- HSBC Short Term Fund
- HSBC Ultra Short to Short Term Fund
SRShriram RamanathanStart date not disclosed
CIO - Fixed Income
B.E (Electrical), PGDBM XLRI, CFA
Over 25 years of experience. HSBC Asset Management (India) Private Limited as CIO - Fixed Income (Since November 26, 2022) Prior Assignments: L&T Investment Management Limited as Head of Fixed Income from July 6, 2012 to November 25, 2022. FIL Fund Management Private Limited as Portfolio Manager - Fixed Income from December 2009 to June 2012. ING Investment Management Asia Pacific (Hong Kong) as Senior Investment Manager – Global Emerging Market Debt (Asia) from September 2005 to October 2009 ING Investment Management (India) Private Limited as Portfolio Manager - Fixed Income from June 2003 to September 2005. Zurich (India) Asset Management Company as Dealer / Research - Fixed Income from September 2001 to June 2003 ICICI Limited Mumbai as Treasury from June 2000 to September 2001 Larsen & Toubro Limited in Design Department, Switchgear Group from August 1997 to May 1998
Fund manager, benchmark and dealing terms from 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
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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 Gilt funds
Gilt funds lend only to the government, so they carry no credit risk. Their prices do move with interest rates, though — they can swing when rate expectations change.
Frequently asked questions
What is the NAV of HSBC Gilt Fund?
As of 05 Oct 2026, the NAV of HSBC Gilt Fund is ₹66.37 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has HSBC Gilt Fund delivered?
HSBC Gilt Fund has returned +0.57% over 1 year, +4.64% per year over 3 years and +4.62% 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 Gilt Fund?
HSBC Gilt Fund charges an expense ratio of 1.60% 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 Gilt Fund?
HSBC Gilt Fund's largest holdings are 7.24% GOI 18-Aug-2055 (16.2%), 364 Days Treasury Bill 10-Dec-2026 (15.8%), 6.9% GOI 15-Apr-2065 (15.6%), 6.94% GOI 11-May-2036 (7.9%) and 7.63% Maharashtra SDL - 27-Aug-2039 (7.7%). Holdings are disclosed monthly and change over time.
How risky is HSBC Gilt Fund?
HSBC Gilt Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 3.1% and its worst peak-to-trough fall in our sample was -4.5%. 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 -0.60 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Gilt Fund's -0.60 means it has not compensated investors for its volatility over the window. Higher is better.
What is the benchmark of HSBC Gilt Fund?
HSBC Gilt Fund is benchmarked against the NIFTY All Duration G-Sec Index. Its alpha and beta on this page are measured against that index.
Who manages HSBC Gilt Fund?
HSBC Gilt Fund is managed by Mohd Asif Rizwi and Shriram Ramanathan at HSBC.
How is HSBC Gilt Fund taxed?
HSBC Gilt 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.