DebtMedium Duration FundRegularGrowthModerate

HSBC Medium Term Fund

Q: What is the NAV of HSBC Medium Term Fund?

As of 05 Oct 2026, the NAV of HSBC Medium Term Fund is ₹21.68 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HSBC Medium Term Fund delivered?

HSBC Medium Term Fund has returned +4.34% over 1 year, +6.90% per year over 3 years and +6.89% 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 Medium Term Fund?

HSBC Medium Term Fund charges an expense ratio of 1.12% 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 Medium Term Fund?

HSBC Medium Term Fund's largest holdings are 6.94% GOI 11-May-2036 (17.9%), Delhi International Airport Limited (4.5%), Aditya Birla Renewables Limited (4.0%), JTPM Metal Traders (3.9%) and SIDBI (3.9%). Holdings are disclosed monthly and change over time.

Q: How risky is HSBC Medium Term Fund?

HSBC Medium Term Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.2% and its worst peak-to-trough fall in our sample was -0.7%. 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 0.32 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Medium Term Fund's 0.32 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of HSBC Medium Term Fund?

HSBC Medium Term Fund is benchmarked against the As per AMFI Tier I benchmark Index – NIFTY Medium Duration Debt Index A-III. Its alpha and beta on this page are measured against that index.

Q: Who manages HSBC Medium Term Fund?

HSBC Medium Term Fund is managed by Shriram Ramanathan at HSBC.

Q: How is HSBC Medium Term Fund taxed?

HSBC Medium Term 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 Medium Duration Mutual Funds

NAV

₹21.68

+0.07% 1D

as of 05 Oct 2026

This is the Regular plan of HSBC Medium Term 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.

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NAV history

+4.25%absolute

52-week rangePrev NAV ₹21.66

Latest ₹21.68

Low ₹20.8089th percentile of its 52-week rangeHigh ₹21.79

Scorecard

★★★☆☆3/5 vs 12 Medium Duration 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 Medium Duration Fund (same plan and option).

PerformanceAverage

3Y CAGR +6.90% · ranks 7 of 12 Medium Duration Funds

RiskModerate

Volatility 1.2% vs 1.4% category avg

CostLow

1.1% expense vs 1.4% category avg

ConsistencyHigh

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

Low expense ratio (1.12%) vs the Medium Duration Fund average of 1.37%
Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.12%

Category 1.37%▼0.25%

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

—

Category —

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

0.32

Category 0.33▼0.01

Scheme Info

Definitions

Plan

Regular · Growth

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

None

NIL The exit load set forth above is subject to change at the discretion of the AMC and such changes shall be implemented prospectively.

None

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

0.005%

SIP Inv.

—

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

As per AMFI Tier I benchmark Index – NIFTY Medium Duration Debt Index A-III

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.

28 Nov 2022

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

Definitions

Absolute return over the last 1 month (not annualized)

-0.23%

Absolute return over the last 3 months (not annualized)

-0.07%

Absolute return over the last 6 months (not annualized)

+2.79%

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

+3.12%

Annualized returns (≥1Y — CAGR)

Definitions

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

+4.34%

3-year annualized return (CAGR)

+6.90%

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

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.

+6.89%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.24%

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

0.32

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

0.45

Largest peak-to-trough decline over full history

-0.67%

Benchmark ratios

Not shown for Medium Duration 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 (Medium Duration Fund)

Period	Fund	Category avg.	Diff
1M abs	-0.23%	-0.28%	+0.05%
3M abs	-0.07%	+0.21%	-0.28%
6M abs	+2.79%	+3.38%	-0.59%
1Y CAGR	+4.34%	+4.81%	-0.47%
3Y CAGR	+6.90%	+7.06%	-0.16%
5Y CAGR	—	+6.25%	—

Category average across peers in Medium Duration Fund (up to 11 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 11 peers in Medium Duration Fund

1Y return

+4.34%

Beats 36.4% · rank #8

3Y return

+6.90%

Beats 45.5% · rank #7

5Y return

—

Sharpe

0.32

Beats 45.5% · rank #7

Sortino

0.45

Beats 45.5% · rank #7

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

₹3.60L

Current value

₹3.93L

Absolute

+9.04%

XIRR

+6.02%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into HSBC Medium Term 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	+3.12%
2025	+7.85%
2024	+8.22%
2023	+6.98%
2022part	+0.38%

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

934

Expense ratio

1.12%

YTM

7.93%

Exit load

NIL The exit load set forth above is subject to change at the discretion of the AMC and such changes shall be implemented prospectively.

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 · Medium Duration Fund

Compare all


HSBC Medium Term FundThis fund HSBC · Regular · Growth	★★★☆☆	+4.34%	+6.90%	—	—	1.12%	—
Aditya Birla Sun Life Medium Term Fund Aditya Birla Sun Life · Regular · Growth	★★★★☆	+7.55%	+9.70%	+11.84%	—	1.55%	₹3,126Cr
Kotak Medium Term Fund Kotak Mahindra · Regular · Growth	★★★☆☆	+5.12%	+7.82%	+6.27%	—	1.63%	₹1,821Cr
ICICI Prudential Medium Term Fund ICICI Prudential · Regular · Growth	★★★★☆	+5.91%	+7.65%	+6.65%	—	1.36%	—
Axis Medium Term Fund Axis · Regular · Growth	★★★★★	+5.54%	+7.59%	+6.58%	—	1.32%	—
SBI Medium Term Fund SBI · Regular · Growth	★★★☆☆	+5.59%	+7.12%	+6.21%	—	1.22%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt98.89%
Cash & Equivalents1.11%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Delhi International Airport Limited

4.53%

Aditya Birla Renewables Limited

3.96%

JTPM Metal Traders

3.94%

SIDBI

3.90%

JSW Kalinga Steel Ltd

3.78%

Indian Railway Finance Corporation Ltd

3.76%

Indian Railway Finance Corporation Ltd

3.76%

360 ONE Prime Limited

3.74%

NABARD

3.66%

Housing and Urban Development Corp. Ltd.

3.66%

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

SRShriram RamanathanStart date not disclosed

Role

CIO - Fixed Income

Education

B.E (Electrical), PGDBM XLRI, CFA

Experience

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

Funds managed (7)

All schemes Shriram Ramanathan runs →

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.

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Fund managers

Shriram Ramanathan

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 Medium Duration funds

Medium duration funds run a Macaulay duration of 3 to 4 years. They carry real interest-rate sensitivity, so they suit a horizon of at least three years rather than a place to park cash.

Frequently asked questions

What is the NAV of HSBC Medium Term Fund?

As of 05 Oct 2026, the NAV of HSBC Medium Term Fund is ₹21.68 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HSBC Medium Term Fund delivered?

HSBC Medium Term Fund has returned +4.34% over 1 year, +6.90% per year over 3 years and +6.89% 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 Medium Term Fund?

HSBC Medium Term Fund charges an expense ratio of 1.12% 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 Medium Term Fund?

HSBC Medium Term Fund's largest holdings are 6.94% GOI 11-May-2036 (17.9%), Delhi International Airport Limited (4.5%), Aditya Birla Renewables Limited (4.0%), JTPM Metal Traders (3.9%) and SIDBI (3.9%). Holdings are disclosed monthly and change over time.

How risky is HSBC Medium Term Fund?

HSBC Medium Term Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.2% and its worst peak-to-trough fall in our sample was -0.7%. 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 0.32 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. HSBC Medium Term Fund's 0.32 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of HSBC Medium Term Fund?

HSBC Medium Term Fund is benchmarked against the As per AMFI Tier I benchmark Index – NIFTY Medium Duration Debt Index A-III. Its alpha and beta on this page are measured against that index.

Who manages HSBC Medium Term Fund?

HSBC Medium Term Fund is managed by Shriram Ramanathan at HSBC.

How is HSBC Medium Term Fund taxed?

HSBC Medium Term 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.