EquitySectoral/ ThematicDirectGrowthVery High

HSBC Financial Services fund

Q: What is the NAV of HSBC Financial Services fund?

As of 05 Oct 2026, the NAV of HSBC Financial Services fund is ₹12.09 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has HSBC Financial Services fund delivered?

HSBC Financial Services fund has returned +4.68% over 1 year and +12.63% 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 Financial Services fund?

HSBC Financial Services fund charges an expense ratio of 0.98% 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 Financial Services fund?

HSBC Financial Services fund's largest holdings are ICICI Bank Limited (9.6%), HDFC Bank Limited (8.7%), Shriram Finance Limited (5.1%), Nippon Life India Asset Management Ltd (5.0%) and State Bank of India (4.6%). Holdings are disclosed monthly and change over time.

Q: How risky is HSBC Financial Services fund?

HSBC Financial Services fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 17.0% and its worst peak-to-trough fall in our sample was -14.8%. 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 Financial Services fund?

HSBC Financial Services fund is benchmarked against the BSE Financial Services TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages HSBC Financial Services fund?

HSBC Financial Services fund is managed by Gautam Bhupal, Harsh Shah and Sonal Gupta at HSBC.

Q: How is HSBC Financial Services fund taxed?

HSBC Financial Services 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 Sectoral & Thematic Mutual Funds

NAV

₹12.09

+0.64% 1D

as of 05 Oct 2026

This is the Direct plan of HSBC Financial Services 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.

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Performance

+3.99%absolute

52-week rangePrev NAV ₹12.02

Latest ₹12.09

Low ₹10.8254th percentile of its 52-week rangeHigh ₹13.17

Scorecard

★★★☆☆3/5 vs 229 of 255 Sectoral/ Thematic 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 Sectoral/ Thematic (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. 229 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Sectoral/ Thematic peers to rank yet

RiskModerate

Volatility 17.0% vs 15.6% category avg

CostLow

1.0% expense vs 1.3% 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 (+4.68%) beats the Sectoral/ Thematic average (+3.38%)
Low expense ratio (0.98%) vs the Sectoral/ Thematic average of 1.27%

Concerns

Trails the Sectoral/ Thematic average on 1M/3M/6M

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.98%

Category 1.27%▼0.29%

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

21.04

Category 28.69▼7.65

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

—

Category 0.45

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 90 days from the date of allotment – Nil If units redeemed or switched out are over and above the limit within 90 days from the date of allotment – 1% If units are redeemed or switched out on or after 90 days 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 Financial Services 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.

04 Mar 2025

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

Definitions

Absolute return over the last 1 month (not annualized)

-6.46%

Absolute return over the last 3 months (not annualized)

-6.79%

Absolute return over the last 6 months (not annualized)

+9.34%

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

-1.96%

Annualized returns (≥1Y — CAGR)

Definitions

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

+4.68%

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.

+12.63%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

17.02%

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

-14.78%

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

—

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

—

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

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

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

—

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

—

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 (Sectoral/ Thematic)

Period	Fund	Category avg.	Diff
1M abs	-6.46%	-4.46%	-2.00%
3M abs	-6.79%	-2.31%	-4.48%
6M abs	+9.34%	+12.08%	-2.74%
1Y CAGR	+4.68%	+3.38%	+1.30%
3Y CAGR	—	+13.80%	—
5Y CAGR	—	+12.04%	—

Category average across peers in Sectoral/ Thematic (up to 255 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 255 peers in Sectoral/ Thematic

1Y return

+4.68%

Beats 64% · rank #83

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

₹1.18L

Absolute

-1.46%

XIRR

-3.17%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into HSBC Financial Services 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 500 TRI	Diff
2026part	-1.96%	-7.18%	+5.22%
2025part	+23.19%	—	—

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 Harsh Shah, Sonal Gupta; Mayank Chaturvedi, Dipan S. Parikh stepped away
25 Sep 2026

History points

390

Expense ratio

0.98%

AUM

₹872.90Cr

Portfolio turnover

15%

Exit load

P/E ratio

21.0

P/B ratio

3.9

Avg market cap

₹3,29,162Cr

P/E & P/B are portfolio-weighted harmonic means across 31 of 38 equity holdings (84% 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 · Sectoral/ Thematic

Compare all


HSBC Financial Services fundThis fund HSBC · Direct · Growth	★★★☆☆ 1Y	+4.68%	—	—	21.04	0.98%	₹872.90Cr
Nippon India Taiwan Equity Fund Nippon India · Direct · Growth	★★★★☆	+128.11%	+63.78%	—	—	1.06%	₹1,110Cr
HDFC Defence Fund HDFC · Direct · Growth	★★★★☆	+20.18%	+36.05%	—	57.59	0.89%	₹9,371Cr
HDFC Pharma and Healthcare Fund HDFC · Direct · Growth	★★★★★	+25.57%	+29.81%	—	44.12	1.03%	₹2,282Cr
Franklin Asian Equity Fund Franklin Templeton · Direct · Growth	★★★☆☆	+32.46%	+25.00%	+9.83%	26.07	1.21%	₹720.84Cr
Nippon India Japan Equity Fund Nippon India · Direct · Growth	★★★☆☆	+30.50%	+24.42%	+12.14%	—	1.37%	₹330.20Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 99% of the equity sleeve priced.

Large cap49.8%
Mid cap29.1%
Small cap21.1%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity96.86%
Cash & Equivalents3.14%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Canara Robeco Banking and Financial Services Fund Canara Robeco · Sectoral/ Thematic	63.9%	—	1.05%	—
Baroda BNP Paribas Banking and Financial Services Fund Baroda BNP Paribas · Sectoral/ Thematic	62.3%	★★☆☆☆	1.09%	+13.35%
Tata Banking & Financial Services Fund Tata · Sectoral/ Thematic	60.6%	★★★☆☆	0.93%	+10.38%
Edelweiss Financial Services Fund Edelweiss · Sectoral/ Thematic	58.5%	—	0.98%	—
Helios Financial Services Fund Helios · Sectoral/ Thematic	57.6%	★★☆☆☆	1.16%	—
MahindraManulife Banking & Financial Services Fund Mahindra Manulife · Sectoral/ Thematic	56.9%	★★★☆☆	1.13%	—
Bank of India Banking & Financial Services Fund Bank of India · Sectoral/ Thematic	56.9%	—	1.68%	—
Bandhan Financial Services Fund Bandhan · Sectoral/ Thematic	56.6%	★★★☆☆	0.99%	+13.98%

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 — 3.42% 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 I3.42%

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.

-14.8%18 Feb 2026 → 30 Mar 2026
Fell over 40 days, back to the old high on 07 May 2026 — 38 days under water after the low.
-8.7%26 Aug 2026 → 01 Oct 2026
Still below that high — 36 days down, and no recovery yet.
-7.8%16 Jul 2025 → 29 Aug 2025
Fell over 44 days, back to the old high on 20 Oct 2025 — 2 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

₹872.90Cr

April - June 2026

+5%

since January - March 2026

+₹62.92Cr

est. net flow, last quarter

At or near its largest, ₹872.90Cr 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

GBGautam BhupalManaging since 06 Feb 2025

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 (4)

All schemes Gautam Bhupal runs →

HSHarsh ShahManaging since 02 Apr 2001

SGSonal GuptaManaging since 03 Apr 2001

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

Gautam Bhupal Sonal Gupta

Top holdings

ICICI Bank Limited HDFC Bank Limited Shriram Finance Limited Nippon Life India Asset Management Ltd State Bank of India Kotak Mahindra Bank Limited Axis Bank Limited PB Fintech Limited Billionbrains Garage Ventures Ltd.HDFC Asset Management Company Limited Karur Vysya Bank 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.

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 Sectoral & Thematic funds

Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.

Frequently asked questions

What is the NAV of HSBC Financial Services fund?

As of 05 Oct 2026, the NAV of HSBC Financial Services fund is ₹12.09 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has HSBC Financial Services fund delivered?

HSBC Financial Services fund has returned +4.68% over 1 year and +12.63% 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 Financial Services fund?

HSBC Financial Services fund charges an expense ratio of 0.98% 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 Financial Services fund?

HSBC Financial Services fund's largest holdings are ICICI Bank Limited (9.6%), HDFC Bank Limited (8.7%), Shriram Finance Limited (5.1%), Nippon Life India Asset Management Ltd (5.0%) and State Bank of India (4.6%). Holdings are disclosed monthly and change over time.

How risky is HSBC Financial Services fund?

HSBC Financial Services fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 17.0% and its worst peak-to-trough fall in our sample was -14.8%. 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 Financial Services fund?

HSBC Financial Services fund is benchmarked against the BSE Financial Services TRI. Its alpha and beta on this page are measured against that index.

Who manages HSBC Financial Services fund?

HSBC Financial Services fund is managed by Gautam Bhupal, Harsh Shah and Sonal Gupta at HSBC.

How is HSBC Financial Services fund taxed?

HSBC Financial Services 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.