HybridMulti Asset AllocationRegularGrowthHigh

HSBC Multi Asset Allocation Fund

Q: What is the NAV of HSBC Multi Asset Allocation Fund?

As of 05 Oct 2026, the NAV of HSBC Multi Asset Allocation Fund is ₹13.48 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 Allocation Fund delivered?

HSBC Multi Asset Allocation Fund has returned +6.62% over 1 year and +12.08% 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 Allocation Fund?

HSBC Multi Asset Allocation Fund charges an expense ratio of 2.27% 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 Allocation Fund?

HSBC Multi Asset Allocation Fund's largest holdings are HSBC Mutual Fund (9.1%), ICICI Bank Limited (8.4%), HDFC Bank Limited (4.6%), Lenskart Solutions Limited (4.2%) and The Federal Bank Limited (3.3%). Holdings are disclosed monthly and change over time.

Q: How risky is HSBC Multi Asset Allocation Fund?

HSBC Multi Asset Allocation Fund is rated 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 -18.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of HSBC Multi Asset Allocation Fund?

HSBC Multi Asset Allocation Fund 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 Allocation Fund?

HSBC Multi Asset Allocation Fund is managed by Cheenu Gupta, Mahesh Chhabria, Mohd Asif Rizwi, Dipan S Parikh and Sonal Gupta at HSBC.

Q: How is HSBC Multi Asset Allocation Fund taxed?

HSBC Multi Asset Allocation 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 Multi Asset Allocation Mutual Funds

NAV

₹13.48

+0.74% 1D

as of 05 Oct 2026

This is the Regular plan of HSBC Multi Asset Allocation 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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Performance

+5.51%absolute

52-week rangePrev NAV ₹13.38

Latest ₹13.48

Low ₹12.3261st percentile of its 52-week rangeHigh ₹14.21

Scorecard

★★★☆☆3/5 vs 31 of 36 Multi Asset Allocation peers1Y

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 Multi Asset Allocation (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 31 of the 36 Multi Asset Allocation funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Multi Asset Allocation peers to rank yet

RiskHigh

Volatility 14.2% vs 9.8% category avg

CostAverage

2.3% expense vs 2.2% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

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

Strengths

1-year return (+6.62%) beats the Multi Asset Allocation average (+4.40%)

Concerns

More volatile than its Multi Asset Allocation peers (14.2% vs 9.8%)

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.27%

Category 2.18%▲0.09%

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

24.80

Category —

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

—

Category 0.73

Scheme Info

Definitions

Plan

Regular · Growth

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

None

If units redeemed or switched out are upto 10% of the units purchased or switched in within 1 year from the date of allotment – Nil If units redeemed or switched out are over and above the limit within 1 year from the date of allotment – 1% If units are redeemed or switched out on or after 1 year from the date of allotment – Nil

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.

01 Mar 2024

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.71%

Absolute return over the last 3 months (not annualized)

-2.26%

Absolute return over the last 6 months (not annualized)

+7.00%

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

+2.40%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.62%

3-year annualized return (CAGR)

—

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.

+12.08%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

14.20%

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

—

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

—

Largest peak-to-trough decline over full history

-18.91%

Benchmark ratios (vs Nifty 50 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 50 TRI

8.61%

Sensitivity to Nifty 50 TRI moves; 1 = moves with the index

0.73

How much of the fund's movement Nifty 50 TRI explains

53.0%

Excess return per unit of beta (market risk)

7.38

Active return over the benchmark per unit of tracking error

0.96

Annualized std dev of fund-minus-benchmark returns

10.50%

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

92.6%

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

38.4%

Computed vs the Nifty 50 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 (Multi Asset Allocation)

Period	Fund	Category avg.	Diff
1M abs	-3.71%	-3.47%	-0.24%
3M abs	-2.26%	-2.26%	0.00%
6M abs	+7.00%	+3.74%	+3.26%
1Y CAGR	+6.62%	+4.40%	+2.22%
3Y CAGR	—	+13.19%	—
5Y CAGR	—	+11.72%	—

Category average across peers in Multi Asset Allocation (up to 36 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 36 peers in Multi Asset Allocation

1Y return

+6.62%

Beats 66.7% · rank #11

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

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

₹1.20L

Current value

₹1.21L

Absolute

+0.60%

XIRR

+1.31%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into HSBC Multi Asset Allocation 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 50 TRI	Diff
2026part	+2.40%	-12.85%	+15.25%
2025	+8.34%	+11.97%	-3.63%
2024part	+21.20%	—	—

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.

Expense ratio down: 2.34% → 2.27%
02 Oct 2026
Fund manager change — now managed by Sonal Gupta; Mayank Chaturvedi, Praveen Ayathan stepped away
25 Sep 2026

History points

638

Expense ratio

2.27%

AUM

₹2,893Cr

Portfolio turnover

150%

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

24.8

P/B ratio

4.9

Avg market cap

₹2,79,275Cr

P/E & P/B are portfolio-weighted harmonic means across 59 of 68 equity holdings (61% 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 · Multi Asset Allocation

Compare all


HSBC Multi Asset Allocation FundThis fund HSBC · Regular · Growth	★★★☆☆ 1Y	+6.62%	—	—	—	2.27%	₹2,893Cr
Quant Multi Asset Allocation Fund quant · Regular · Growth	★★★☆☆	+11.87%	+20.86%	+17.03%	—	2.29%	₹5,474Cr
Nippon India Multi Asset Allocation Fund Nippon India · Regular · Growth	★★★★★	+6.63%	+16.71%	+13.46%	—	1.44%	₹15,069Cr
DSP Multi Asset Allocation Fund DSP · Regular · Growth	★★★★★	+7.28%	+15.92%	—	—	1.59%	₹9,515Cr
Kotak Multi Asset Allocation Fund Kotak Mahindra · Regular · Growth	★★★☆☆	+8.94%	+15.58%	—	—	1.77%	₹13,629Cr
WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital · Regular · Growth	★★★★★	+7.98%	+15.16%	—	—	1.67%	₹7,308Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap55.7%
Mid cap37.2%
Small cap7.1%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity73.91%
Debt14.00%
Other10.81%
Cash & Equivalents1.28%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
HSBC Large & Mid Cap Fund HSBC · Large & Mid Cap Fund	68.3%	★★★☆☆	1.34%	+16.77%
HSBC Equity Savings Fund HSBC · Equity Savings	46.0% of 77% equity	★★★★☆	1.41%	+12.51%
HSBC Midcap Fund HSBC · Mid Cap Fund	45.0%	★★★★☆	1.10%	+22.73%
HSBC Financial Services fund HSBC · Sectoral/ Thematic	36.2%	★★★☆☆	0.98%	—
HSBC Large Cap Fund HSBC · Large Cap Fund	34.3%	★★☆☆☆	1.41%	+9.83%
SBI ESG Exclusionary Strategy Fund SBI · Sectoral/ Thematic	31.4%	★★☆☆☆	1.49%	+7.79%
PGIM India Large Cap Fund PGIM India · Large Cap Fund	31.2%	★☆☆☆☆	1.09%	+6.85%
Canara Robeco Flexi Cap Fund Canara Robeco · Flexi Cap Fund	30.9%	★★★☆☆	0.69%	+10.64%

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 — 3.17% 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.

PB Fintech LimitedShort-term · Stage I3.17%

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.

-18.9%17 Dec 2024 → 28 Feb 2025
Fell over 2 months, back to the old high on 16 Sep 2025 — 7 months under water after the low.
-12.0%29 Jan 2026 → 23 Mar 2026
Fell over 2 months, back to the old high on 10 Aug 2026 — 5 months under water after the low.
-7.5%15 Oct 2024 → 13 Nov 2024
Fell over 29 days, back to the old high on 05 Dec 2024 — 22 days 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

₹2,893Cr

April - June 2026

+9%

since January - March 2026

+₹237.58Cr

est. net flow, last quarter

At or near its largest, ₹2,893Cr in April - June 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

CGCheenu GuptaStart date not disclosed

Role

SVP Fund Management Equities Vice President – Dealing Equities Associate Vice President – Dealing Fixed Income

Education

PUBLICPUBLIC CFA Charter (USA), PGDBM (Finance) - SPJIMR, B.E. (I.T)

Experience

Over 19 years of experience HSBC Asset Management (India) Private. Limited as SVP Fund Management Equities (Since November 26, 2022) Prior Assignments: L&T Investment Management Limited Fund Manager – Equity from July 01, 2021 to November 25, 2022. Canara Robeco Asset Management Company Limited as Equity - Fund Manager (March 2018 – June 2021) Tata AIA Life Insurance Company Limited Equity Fund Manager (from August 2009 - February 2018)

Funds managed (4)

All schemes Cheenu Gupta runs →

MCMahesh ChhabriaStart date not disclosed

Role

VP Fund Management Fixed Income

Education

Masters in Management Studies (M.M.S)

Experience

Over 15 years of experience HSBC Asset Management (India) Private Limited as SVP - Fund Management - Fixed Income (Since March 01, 2024) as VP - Fund Management - Fixed Income (from November 26, 2022 – February 28, 2024) Prior Assignments: L&T Investment Management Ltd Fixed Income – Fund Manager from November 25, 2021 to November 25, 2022. L&T Investment Management Ltd Dealer in Fixed Income since June, 2015 till November 24, 2021 Edelweiss Securities Ltd Fixed Income dealer from October 2013 - June 2015 Derivium Traditions Pvt. Ltd. Fixed Income dealer from February 2013- October 2013 L&T Investment Management Ltd. Associate in Investment Operations from November 2012 – February 2013. FIL Fund Management Pvt. Ltd. Associate in Investment Operations from August 2010 – November, 2012 Edelweiss Securities Limited as Equity dealer from March 2007 to May 2014. Karvy Stock Broking Limited as Equity dealer from June 2005 to March 2007

Funds managed (11)

All schemes Mahesh Chhabria runs →

MRMohd Asif RizwiManaging since 03 Feb 2001

Role

VP Dealing Fixed Income

Education

PUBLIC PGDM from IIM Calcutta & B. Tech (Chemical Engineering) from IIT Bombay

Experience

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.

Funds managed (14)

All schemes Mohd Asif Rizwi runs →

DPDipan S ParikhStart date not disclosed

Role

Vice President – Dealing Equities

Education

Bachelor of Commerce

Experience

Over 29 years of experience of Dealing in Equity markets. HSBC Asset Management (India) Private Limited, as SVP - Dealing Equities (Since March 2025) as VP - Dealing Equities from September 2006 till February 2025 Karvy Stock Broking Private Limited, Institutional Dealer from July 2001 to September 2006

All schemes Dipan S Parikh 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 (5)

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

Cheenu Gupta Mahesh Chhabria Mohd Asif Rizwi Sonal Gupta

Top holdings

ICICI Bank Limited HDFC Bank Limited Lenskart Solutions Limited The Federal Bank Limited PB Fintech Limited Meesho Limited TVS Motor Company Limited GE Vernova T&D India Limited ITC Limited Lupin Limited JSW Steel Limited ICICI Prudential AMC Ltd

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 Multi Asset Allocation funds

Multi asset funds spread money across at least three asset classes — typically equity, debt and gold — each at 10% or more. The mix aims to reduce the impact of any one asset having a bad year.

Frequently asked questions

What is the NAV of HSBC Multi Asset Allocation Fund?

As of 05 Oct 2026, the NAV of HSBC Multi Asset Allocation Fund is ₹13.48 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HSBC Multi Asset Allocation Fund delivered?

HSBC Multi Asset Allocation Fund has returned +6.62% over 1 year and +12.08% 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 Allocation Fund?

HSBC Multi Asset Allocation Fund charges an expense ratio of 2.27% 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 Allocation Fund?

HSBC Multi Asset Allocation Fund's largest holdings are HSBC Mutual Fund (9.1%), ICICI Bank Limited (8.4%), HDFC Bank Limited (4.6%), Lenskart Solutions Limited (4.2%) and The Federal Bank Limited (3.3%). Holdings are disclosed monthly and change over time.

How risky is HSBC Multi Asset Allocation Fund?

HSBC Multi Asset Allocation Fund is rated 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 -18.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of HSBC Multi Asset Allocation Fund?

HSBC Multi Asset Allocation Fund 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 Allocation Fund?

HSBC Multi Asset Allocation Fund is managed by Cheenu Gupta, Mahesh Chhabria, Mohd Asif Rizwi, Dipan S Parikh and Sonal Gupta at HSBC.

How is HSBC Multi Asset Allocation Fund taxed?

HSBC Multi Asset Allocation 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.