The Asset

April 2023
Index

How to read Factsheet 03 HSBC Managed Solutions India – Moderate 30

CEO Speak 04 HSBC Managed Solutions India – Conservative 30

Commentary 05 Fund Snapshot 31

Fund Positioning 09 HSBC Overnight Fund 36

HSBC Large Cap Fund 10 HSBC Liquid Fund 37

HSBC Large & Mid Cap Fund 11 HSBC Money Market Fund 38

HSBC Midcap Fund 12 HSBC Low Duration Fund 39

HSBC Flexi Cap Fund 13 HSBC Ultra Short Duration Fund 40

HSBC Multi Cap Fund 14 HSBC Short Duration Fund 41

HSBC Small Cap Fund 15 HSBC Medium Duration Fund 42

HSBC Focused Fund 16 HSBC Medium to Long Duration Fund 43

HSBC Infrastructure Fund 17 HSBC Dynamic Bond Fund 44

HSBC Value Fund 18 HSBC Corporate Bond Fund 45

HSBC Business Cycles Fund 19 HSBC Banking and PSU Debt Fund 46

HSBC Nifty 50 Index Fund 20 HSBC Credit Risk Fund 47

HSBC Nifty Next 50 Index Fund 21 HSBC Gilt Fund 48

HSBC ELSS Fund 22 HSBC Conservative Hybrid Fund 49

HSBC Tax Saver Equity Fund 23 HSBC CRISIL IBX 50-50 Gilt Plus SDL Apr 2028
50
Index Fund
HSBC Aggressive Hybrid Fund 24
HSBC CRISIL IBX Gilt June 2027 Index Fund 51
HSBC Arbitrage Fund 25
SIP Performance 52
HSBC Balanced Advantage Fund 26
Comparative Performance of Equity Schemes 60
HSBC Equity Savings Fund 27
Comparative Performance of Debt Schemes 66
HSBC Global Emerging Markets Fund 28
IDCW 70
HSBC Global Equity Climate Change Fund of Fund 28
Minimum Application Amount (SIP) 72
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund 29
Product Labelling 73
HSBC Brazil Fund 29
Disclaimer 77
HSBC Managed Solutions India – Growth 30
How to read
Factsheet

This is the minimum investment amount for an existing

Application This is the minimum investment amount for a new Minimum investor in a mutual fund scheme. Modified Duration:
Amount for investor in a mutual fund scheme, Additional Modified duration is the price sensitivity and the
Fresh Amount percentage change in price for a unit change in yield.
Subscription

AUM AUM or Assets Under Management refers to the recent

updated cumulative market value of investments NAV The NAV or the Net Asset Value is the total asset value
managed by a mutual fund or any investment firm. per unit of the mutual fund after deducting all related and
permissible expenses. The NAV is calculated at the end of
every business day. It is the value at which the investor
enters or exits the mutual fund.
Benchmark A group of securities, usually a market index, whose
performance is used as a standard or benchmark to
measure invesment performance of mutual funds, among
other investments. Some typical benchmarks include the The investment objective and underlying investments
Nature of
Nifty, Sensex, BSE200, BSE500, 10-Year Gsec. determine the nature of the mutual fund scheme. For
Scheme
instance, a mutual fund that aims at generating capital
appreciation by investing in stock markets is an equity
Beta (ß) of a portfolio is a number indicating the relation fund or growth fund. Likewise, a mutual fund that aims at
Beta
between portfolio returns with that of the market index capital preservation by investing in debt markets is a debt
i.e. it measure the volatility, or systematic risk, of a fund or income fund. Each of these categories may have
portfolio in comparison to the market as a whole. sub-categories.

Rating Mutual funds invest in securities after evaluating their

Exit Load Exit load is charged at the time an investor redeems the Profile creditworthiness as disclosed by the ratings. A depiction
units of a mutual fund. The exit load is deducted from the of the mutual fund in various investments based on their
prevailing NAV at the time of redemption. For instance, if ratings becomes the rating profile of the fund.Typically,
the NAV is `100 and the exit load is 1%, the redemption this is a feature of debt funds.
price would be `99 per unit.
Sharpe Sharpe Ratio is a risk to reward ratio, it measures portfolio
Amutual fund may have a sales charge or load at the time returns generated in excess to the investment in risk-free
Entry Load Ratio
of entry and/or exit to compensate the distributor/agent. asset, for per unit of total risk taken. While, positive
Entry load is charged at the time an investor purchases Sharpe ratio indicates, portfolio compensating investors
the units of a mutual fund. The entry load is added to the with excess returns (over risk-free rate) for the
prevailing NAV at the time of investment. For instance, if commensurate risk taken; negative Sharpe ratio indicates,
the NAVis `100 and the entry load is 1%, the investor will investors are better off investing in risk-free assets.
enter the fund at `101.
SIP SIP or Systematic Investment Plan works on the principle
of making periodic investments of a fixed sum. It works
similar to a recurring bank deposit. For instance, an
Note SEBI, vide circular dated June 30, 2009 has abolished investormay opt for an SIPthat invests `500 every 15 of
entry loan and mandated that the upfront commission to the month in an equity fund for a period of three years.
distributors will be paid by the investor directly to the
distributor, based on his assessment of various factors Standard A statistical measure that defines expected volatility/risk
including the services rendered by the distributor. associated with a portfolio. This explains the
Deviation
variation/deviation from the average returns delivered by
the portfolio. A higher standard deviation means higher
volatility (risk) and a lower standard deviation means
Fund An employee of the asset management company such as lower volatility.
Manager a mutual fund or life insurer, who manages investments
of the scheme. He is usually part of a larger team of fund Yield to The Yield to Maturity or the YTM is the rate of return
managers and research analysts. Maturity anticipated on a bond if held until maturity.YTM is
expressed as an annual rate. The YTM factors in the
The holdings or the portfolio is a mutual fund’s latest or bond’s current market price, par value, coupon interest
Holdings
updated reported statement of investments/ securities. rate and time to maturity.
These are usually displayed in terms of percentage to net
assets or the rupee value or both. The objective is to give Tracking Tracking Difference is the annualized difference of daily
investors an idea of where their money is being invested returns between the index and the NAV of the Index
Difference
by the fund manager. Fund.

03
CEO speak

The Indian equity markets outperformed its global peers in April despite the concerns of rising interest rates across the globe. The Indian markets
attracted a considerable amount of influx in the equity flows across multiple sectors spread into mid-caps and small caps. Some of the domestic
economy data points have helped this rally. The GST collections in April 2023 touched a record high of Rs 1.87 lakh crores. It is for the first time
since the implementation of the regime that the gross GST collection crossed the Rs 1.75 lakh crores mark. UPI transactions were at a record high
in April 2023. It hit a new high of 890 crores and the value of these transactions also hit a new high of Rs 14.07 lakh crores. FASTag transactions in
April 2023 was 305 million in volume and Rs 5,149 crore in value – a 15% increase in volume & 22% increase in value on YoY. These are a few
data points amongst many that point towards the fact that the growth drivers within the domestic economy are maintaining positive momentum
despite global uncertainties.
The global geopolitical and macro-economic challenges like the banking crisis and rising interest rates continue to challenge the Indian markets,
however, the resilience of our economy and our markets is seeming to ring fence itself from the global upheavals. This probably is one of the main
reasons why we have seen a clear uptick in foreign investment participation in the Indian markets this month. The government’s continued focus
on infrastructure growth related spends shows its strong intent in supporting the domestic economy and growth. Decline in the crude oil prices is
another positive for India. An RBI article recently said that India is on its way to become $3.7 trillion economy which means India would maintain
its position as the 5th largest economy of the world. The Indian corporate results are also showing positive signs, exports are increasing, the
exchange rate is also helping many industries.
As believed by many, India seems to be poised at a good place for growth with most of the top institutions projecting good GDP growth rates for
India in specific and the positive economic outlook for the country in general.
We have maintained in the past for all our retail investors to stay invested in uncertain markets if the investments were made with a certain
financial goal coupled with a time horizon and not to get swayed by market cycles. As we see positive momentum in April, we once again urge all
our investors to relook at their portfolios and financial goals.

Beginning of a financial year is also a good time to do the following quick hygiene checks
• Take stock of your monthly income and savings.
• Increase your monthly savings if you can and invest them as per your financial goals and risk appetite. SIPs in equity funds continues to be an
ever-green recommended investment tool for long term wealth creation.
• Provision for tax saving avenues (depending on your choice of the tax regime) if you have not, so that it does not end up being
a yearend struggle.
• Review and update your nominations in all your investment instruments.
• Review and upgrade (if need be) your health and life insurance policies.
• Explore taking help from a qualified and experienced Financial Planner or Wealth Advisor for planning your investments and long-term
financial goals.

AT HSBC AMC, we continue to be firm believers in the India growth story and our endeavour is to ensure the best-in-class products and services
that help in wealth creation for our investors who we believe will benefit from the overall growth of the markets.

SET GOALS. REVIEW.BE PATIENT.

HAPPY INVESTING!

Source: HSBC Mutual Fund, AMFI

Kailash Kulkarni

04
Equity Markets
April 2023

Equity Market Indices

• India was the best performing global market in April
Domestic Last 1 Month CYTD 2023
2023 after lagging in March as RBI skipped an expected
Indices Close (Change) (Change)
rate hike and strong FII inflow continued in April
S&P BSE Sensex TR 92568 3.6% 0.7% offsetting the slowdown in domestic flows.
Nifty 50 TR 26303 4.1% -0.1% • India saw a broad based rally with S&P BSE Sensex &
S&P BSE 200 TR 9629 4.4% -1.5% NSE Nifty indices gaining 3.6%/4.1%, respectively,
during the month while BSE Mid Cap/BSE Small Cap
S&P BSE 500 TR 30163 4.6% -1.3%
indices jumped up by 6%/7.3%, respectively.
S&P BSE Midcap TR 31675 6.0% 1.0%
• RBI’s rate increase pause drove a strong rally in interest
S&P BSE Smallcap TR 35327 7.3% 0.2%
rate sensitive sectors. Real Estate was the best performing
NSE Large & Midcap 12763 4.7% -0.6% sector followed by Auto, Capital Goods and Banks.
250 TR Healthcare, Oil & Gas and Metals also outperformed the
S&P BSE India 414 6.1% 0.5% Nifty. Only IT sector saw negative returns driven by weak
Infrastructure Index TR results and commentary from most large caps.
MSCI India USD 750 4.1% -2.7% Global market update
MSCI India INR 1991 3.7% -3.8% • Major equity indices globally gained in April with MSCI
INR - USD 81.8 -0.4% -1.1% World index up 1.6% as the US market (S&P 500) climbed
Crude Oil 80 -0.3% -7.4% 1.5% and MSCI Europe gained 3.6%. MSCI EM however
declined 1.3% driven by a 5.2% decline in China. Crude
oil prices remained largely flat during the month.

• FIIs were buyers of Indian equities in April to the Global Market Indices
tune of $1.9 bn while DIIs were buyers only to the
extent of $0.3 bn. Domestic mutual funds saw an Domestic Last 1 Month CYTD
equity outflow of $0.6 bn while insurance funds Indices Close (Change) 2023 (Change)
invested $0.9 bn during the month.
MSCI World 2,836 1.6% 9.0%
• CPI inflation dropped from 6.4% (YoY) in February
down to 5.7% (YoY) in March. Core-core inflation Dow Jones 34,098 2.5% 2.9%
(i.e. core inflation ex petrol and diesel) remained S&P 500 4,169 1.5% 8.6%
sticky at 6% but softened from 6.4% (YoY) in MSCI EM 977 -1.3% 2.2%
February.
MSCI Europe 1,972 3.6% 13.9%
• Index of Industrial production growth (IIP) in MSCI UK 1,184 5.0% 10.2%
February stood at 5.6% up from 5.5% (YoY) in
January.
MSCI Japan 3,311 0.4% 5.5%
MSCI China 63 -5.2% -0.8%
• INR appreciated over the month (up +0.4% MoM)
and ended the month at 81.83/USD in April. India’s
MSCI Brazil 1,422 1.8% -2.5%
FX reserves came in at $584 bn. FX reserves have
risen by US$5.5 bn in the last four weeks.
• Other key developments during the month include –
Gross GST revenue collection in the month of April
2023 stood at Rs 1.87 tn, up 12% (YoY).

05
Valuations
Nifty FY24/25 consensus earnings have seen a further 1% cut over the last 1 month. As a result, Nifty continues to trade on
19.2x FY24 PE. On a 10-year basis, Nifty is still trading 10% above its historic average valuation but is now trading slightly
below its 5-year average. However, in a rising interest rate environment, market returns may lag earnings growth due to
moderation in valuation multiples.

Macro View
In our view, macro environment remains challenging with heightened global geo-political and economic uncertainties. Recent
banking issues in US and EU highlight fragility in the system and therefore despite inflation remaining on the higher side, US
bond yields reflect risk of a recession in the next 12 months. For India, strong infrastructure thrust of the government as
announced in the Union Budget with more than 20% (YoY) growth in capital spending remains a key support for the domestic
economy. Inflationary pressures seem to be moderating with correction in crude and global commodity prices and likelihood
of further interest rates increases has reduced. Monsoon will be a key factor to watch for India in the near term.

Outlook
We believe lagged impact of sharp interest rate increase cycle could result in negative growth surprises for the global
economy going forward. On the positive side, likelihood of further interest rate increases seems to have diminished. Decline
in crude and other global commodity prices is another clear positive for India. We believe Indian government’s thrust on
infrastructure and support to manufacturing remains a strong medium-term driver of growth. While we expect India’s
economic growth to be slower in FY24 and expect downside to consensus earnings growth forecast, we remain positively
biased towards domestic cyclicals and constructive on Indian equities longer term supported by the more robust medium
term growth outlook.

Key drivers for future

On the headwinds, we have
• High and persistent inflation concerns (Global & demand should continue to improve with recovery in
Domestic) service economy.
• US Fed Policy: Accelerated rate hikes and balance • Moderating commodity prices: Reversal in
sheet shrinking process could mean volatile equities. commodity prices (especially crude oil and fertilizers) is
a positive from inflation, fiscal deficit and corporate
• Moderating global and domestic growth due to margins perspective.
demand impact from sticky inflation. Higher interest
rates are likely to weigh on consumption going • Other factors/risks: High current account and fiscal
forward. deficit.
We see the following positives for the Indian market:
• Robust domestic macro: Strong Strong government
thrust on infrastructure and manufacturing. Urban

Past performance is not an indicator of future returns

* Returns mentioned in the report are the Total Return or TR variants of the respective domestic indices. USD return for global indices. (Source: Bloomberg, MOSL &
HSBC MF estimates as on April 2023 end).

06
DEBT MARKETS
April 2023

Debt Market Review

The FOMC in its meeting on May 03, 2023, raised the policy rates by 25 bps to 5.00%-5.25%. The significant change was in
the accompanying statement where the Fed dropped its earlier reference to “further policy firming may be appropriate”. The
Federal Reserve Chair indicated that future rate actions would be data dependent but reiterated the commitment to bringing
inflation back down to 2%. The Fed Chair also mentioned that they have raised rates sharply over the past year and would
note how data evolves, leaving the option open for a pause in the next meeting. Post the Federal Reserve meeting, the
markets now expect the Fed Fund rates to have peaked out with around 4 rate cuts over the next one year. The US Treasury
curve continues to remain inverted with the 2 yr / 10 yr spread currently at 40-45 bps post the Fed meeting vs ~60 bps at the
end of April. The ECB also raised policy rates in early May by 25 bps, with possibility of further tightening going forward.

The month of April saw some amount of stability in global markets. US CPI inflation moderated to 5.0% in March 2023 vs
6.0% in the previous month. Core CPI, however, continues to remain sticky at 5.6%. Eurozone and UK CPI remained elevated
at 7.0% and 10.1% respectively. 10 yr US Treasury yields stayed range bound between 3.30% and 3.60% during the month.
Crude prices were volatile during the month, with a surprise OPEC production cut leading to a sharp spike to ~USD 87/bbl
early in the month—prices moderated towards the end of the month closing virtually flat for the month at ~USD 80/bbl, and is
currently trading even lower at ~USD 73/bbl.

The MPC met in early April and voted unanimously for maintaining the repo rate at 6.5%, contrary to consensus expectations
of a 25 bps hike. The MPC also voted with a 5:1 majority for continuing with “withdrawal of accommodation”. The Governor
emphasized that the decision to pause on rates is only for this meeting, leaving the door open for future rate hikes if required.

Macro-Economic Developments
• Given RBI maintaining repo rate at 6.5% instead of
• On the domestic macro front, CPI inflation moderated
consensus expectation of a 25 bps hike, domestic
to 5.66% in March 2023 (vs 6.44% in Feb) given
yields across the yield curve inched lower during the
moderation in food prices and decline in core inflation
month. CD levels moved lower by ~10 bps benefiting
to 5.8%. WPI inflation declined to a 29-month low of
from reduced supply in April as compared to March.
1.34% in March 2023 (vs 3.85% in Feb). PMI numbers
3yr to 10yr G-Sec yields inched lower by close to 15-20
continued to be strong with Services PMI at a
bps. Corporate bond yields across the yield curve also
multi-year high of 62.0 (vs 57.8 in previous month).
eased by 15-20 bps while OIS levels were lower by
GST revenues remain buoyant, clocking an all-time
~20-25 bps across segments. Yields post the month
high in of INR 1.87 Lakh Crs in April 2023 and credit
end have further rallied by 5-10 bps.
off-take ended FY2023 on an upbeat note. IIP remains
steady at 5.6% in Feb 2023 (vs 5.5% in Jan 2023).
Trade deficit for Mar 2023 stood at USD 19.7 bn.
Cumulatively for FY2023, trade deficit widened to USD
267 bn vs USD 192 bn in FY2022.

07
Outlook
Given the 300 bps+ move in overnight rates over the past year, the MPC decided in the previous policy to assess the impact
of past actions and keep an eye on the global financial stability situation over the coming months. A strong external sector
and robust growth momentum (especially compared to rest of the world) gives enough space to the RBI to wait and take
calibrated measures in the future if needed.
With the Fed having signaled a pause (and a likely end) to its rate hike, the probability that our rate hiking cycle has ended
and 6.50% is the peak Repo Rate in this cycle has meaningfully increased. Having said that, it would still be critical to monitor
incoming data pertaining to inflation and growth over the coming few quarters, to see if any nasty surprises force the Fed or
the RBI to embark on a fresh round of tightening. Hence, a nimble footed approach would be apt in our portfolio strategies to
adapt quickly to such events (if they do unfold).
The game now clearly shifts to the timing, magnitude and pace of rate cuts that are likely over the next year or two. The US
bond markets are aggressively pricing in 100 bps of rate cuts over the next year, with the easing starting as early as July /
September 2023. Domestically too, with the sharp rally in yields over the past month, markets are now effectively pricing in
rate cuts starting in Q4 of this fiscal year. The speed at which markets have turned around to price in rate cuts now vs hikes
earlier has been sharp and quick, but not surprising as at the peak of a rate hiking cycle (with Repo Rate higher by 250 bps
and Overnight rates higher by over 300 bps), it is always difficult to predict exactly when the markets turn and often such
turnarounds tend to be sharp and dramatic. This is precisely the reason why we have been advocating a constructive view on
bond markets over the last couple of months. Despite the sharp rally in yields over the past month, we continue to remain
positive with a 1-2 year investment horizon, during which bond markets are likely to benefit from a likely rate cutting cycle
and a gradually more accommodative RBI stance.
Based on the above outlook above, we believe the below mentioned strategies make investment sense:
• With 6-12-month CD space now yielding close to 7.30%-7.50%, this makes a compelling case for investors to get into
investment products like Money Market Funds which invest predominantly in the 6-12-month CD space. As the gap
between deposit and credit growth narrows over the coming few quarters, we believe CD rates are likely to stabilize and
start moving lower.
• For investors willing to take some risk – with volatility being high and markets likely to swing from one narrative to the
other during the course of the next few months, we believe dynamically managed Duration and Gilt Funds can provide
more opportunities to add alpha through duration changes to take advantage of these movements.
• And for the next level of alpha seeking investors, adding an element of measured credit risk to these strategies (through
products such as Medium Duration Fund), can become a rewarding proposition.

Past performance is not an indicator of future returns. Source: Bloomberg,

Data as on 30 April 2023
This document provides a high level overview of the recent economic environment. It is for marketing purposes and does not constitute investment research,
investment advice or a recommendation to any reader of this content to buy or sell investments. It has not been prepared in accordance with legal requirements
designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of its dissemination.

08
Product Suite
Equity Funds
Category Scheme Name Category Scheme Name
Large Cap Fund HSBC Large Cap Fund Thematic Fund HSBC Business Cycles Fund
Large and Mid Cap Fund HSBC Large & Mid Cap Fund Index Fund HSBC Nifty 50 Index Fund
Mid Cap Fund HSBC Midcap Fund Index Fund HSBC Nifty Next 50 Index Fund
Flexi Cap Fund HSBC Flexi Cap Fund ELSS Fund HSBC ELSS Fund
Small Cap Fund HSBC Small Cap Fund ELSS Fund HSBC Tax Saver Equity Fund
Thematic - Infrastructure HSBC Infrastructure Fund Value Fund HSBC Value Fund
Fund
Focused Fund HSBC Focused Fund Multi Cap Fund HSBC Multi Cap Fund

Debt Funds
Category Scheme Name Category Scheme Name
Overnight Fund HSBC Overnight Fund Dynamic Bond Fund HSBC Dynamic Bond Fund
Liquid Fund HSBC Liquid Fund Corporate Bond Fund HSBC Corporate Bond Fund
Money Market Fund HSBC Money Market Fund Banking and PSU Fund HSBC Banking and PSU
Debt Fund
Low Duration Fund HSBC Low Duration Fund Credit Risk Fund HSBC Credit Risk Fund
Ultra Short Duration HSBC Ultra Short Duration Conservative Hybrid HSBC Conservative
Fund Fund Fund Hybrid Fund
Short Duration Fund HSBC Short Duration Fund Gilt Fund HSBC Gilt Fund
Medium Duration Fund HSBC Medium Duration Fund Index Fund HSBC CRISIL IBX 50-50 Gilt
Plus SDL Apr 2028 Index Fund
Medium to Long HSBC Medium to
Duration Fund Long Duration Fund Index Fund HSBC CRISIL IBX Gilt June
2027 Index Fund

Hybrid Funds
Category Scheme Name Category Scheme Name
Aggressive Hybrid Fund HSBC Aggressive Hybrid Fund Balanced Advantage Fund HSBC Balanced Advantage Fund
Arbitrage Fund HSBC Arbitrage Fund Equity Savings Fund HSBC Equity Savings Fund

Other Funds
Category Scheme Name Category Scheme Name
FoF - Domestic HSBC Managed Solutions FoF - Overseas - HSBC Global Equity Climate
India - Moderate Climate Change Change Fund of Fund
FoF - Domestic HSBC Managed Solutions FoF - Overseas - HSBC Asia Pacific (Ex Japan)
India - Conservative AsiaPac (Ex Japan) Dividend Yield Fund
FoF - Domestic HSBC Managed Solutions FoF - Overseas - HSBC Global Emerging
India - Growth Emerging Markets Markets Fund
FoF - Overseas - Brazil HSBC Brazil Fund
09
 HSBC Large Cap Fund
Large Cap Fund - An open ended equity scheme predominantly investing in large cap stocks.
Investment Objective: To generate long-term capital growth from an actively managed portfolio of equity and equity
related securities of predominantly large cap companies. However, there can be no assurance or guarantee that the
investment objective of the scheme would be achieved.

Fund Details % to Net % to Net

Issuer Industry/Rating Issuer Industry/Rating
Assets Assets
Date of Allotment 10-Dec-02 EQUITY 98.88% Cash Equivalent 1.12%
Benchmark Nifty 100 TRI6 HDFC Bank Limited Banks 9.76% TREPS* 1.34%
ICICI Bank Limited Banks 8.90% Net Current Assets: -0.22%
NAV (as on 30.04.23)
Reliance Industries Limited Petroleum Products 7.54% Total Net Assets as on 30-APRIL-2023 100.00%
Growth ₹ 320.5059 Infosys Limited IT - Software 6.07% *TREPS : Tri-Party Repo
Direct Growth ₹ 348.6955 ITC Limited Diversified FMCG 5.01%
Housing Development Fi-
AUM (as on 30.04.23) ₹ 1444.30 Cr Finance 3.84% Industry Allocation
nance Corporation Limited
AAUM (for the month Axis Bank Limited Banks 3.27%
₹ 1424.56 Cr Banks 28.68%
of Apr) Larsen and Toubro Limited Construction 3.27%
NTPC Limited Power 3.22% IT - Software 10.62%
Fund Manager & Experience
State Bank of India Banks 3.20% Diversified FMCG 8.16%
Neelotpal Sahai Hindustan Unilever Limited Diversified FMCG 3.15% Petroleum Products 8.04%
Total Experience 29 Years DLF Limited Realty 2.80% Pharmaceuticals & Biotechnology 5.72%
Managing this fund Since May 27, 2013 Oil and Natural Gas Corpo-
Oil 2.48% Finance 3.84%
ration Limited
Ankur Arora Automobiles 3.45%
Bharti Airtel Limited Telecom - Services 2.21%
Total Experience 18 Years Sun Pharmaceutical Pharmaceuticals & Biotech- Construction 3.27%
2.05%
Managing this fund Since Nov 26, 2022 Industries Limited nology Power 3.22%
Minimum Investment1 IndusInd Bank Limited Banks 2.00% Consumer Durables 2.98%
LTIMindtree Limited IT - Software 1.68%
Lumpsum ₹ 5,000 Realty 2.80%
Asian Paints Limited Consumer Durables 1.61%
SIP## Please refer page 72 Cement & Cement Products 2.53%
Coforge Limited IT - Software 1.45%
Additional Purchase ₹ 1,000 Oil 2.48%
Bharat Electronics Limited Aerospace & Defense 1.43%
Entry load: “NA” Tech Mahindra Limited IT - Software 1.42% Telecom - Services 2.21%
Exit load: • If the units redeemed or switched out are Dalmia Bharat Limited Cement & Cement Products 1.38% Insurance 1.93%
upto 10% of the units purchased or switched in (“the Titan Company Limited Consumer Durables 1.37% Personal Products 1.56%
limit”) within 1 year from the date of allotment - Nil Mahindra and Mahindra
• If units redeemed or switched out are over and Automobiles 1.27% Aerospace & Defense 1.43%
Limited
above the limit within 1 year from the date of allot- Fertilizers & Agrochemicals 1.17%
Pharmaceuticals & Biotech-
ment - 1% Cipla Limited 1.26%
nology Beverages 1.00%
• If units are redeemed or switched out on or after 1
year from the date of allotment - Nil Maruti Suzuki India Limited Automobiles 1.19% Healthcare Services 0.94%
SBI Life Insurance Compa-
Quantitative Data2 Insurance 1.18% Chemicals & Petrochemicals 0.88%
ny Limited
Standard Deviation 14.75% PI Industries Litmited Fertilizers & Agrochemicals 1.17% Retailing 0.74%
Beta (Slope) 0.93 Agricultural Commercial &
UltraTech Cement Limited Cement & Cement Products 1.15% Construction Vehicles 0.69%
Sharpe Ratio 3 0.83 Pharmaceuticals & Biotech- Food Products 0.54%
R2 0.96 Divi's Laboratories Limited 1.13%
nology
Reverse Repos/TREPS 1.34%
Month End Total Expenses Ratios Godrej Consumer Products
Personal Products 1.04% -0.22%
(Annualized)4 Limited Net Current Assets
Regular5 2.18% Varun Beverages Limited Beverages 1.00%
Direct 1.23% TVS Motor Company
Automobiles 0.99%
Portfolio Turnover Limited
Portfolio Classification By Market Segment Class (%)
0.60 Apollo Hospitals Enterprise
(1 year) Healthcare Services 0.94%
Limited
in multiples of Re 1 thereafter. 6.76% 1.12%
1
SRF Limited Chemicals & Petrochemicals 0.88%
2
Quantitative Data disclosed are as per monthly
returns (Annualized) for the last 3 years.
ICICI Lombard General
Insurance 0.75%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr Insurance Company Limited
28, 2023) Pharmaceuticals & Biotech-
Lupin Limited 0.74%
4
TER Annualized TER including GST on Investment nology
Management Fees Agricultural Commercial &
Escorts Kubota Limited 0.69%
5
Continuing plans Construction Vehicles
Note - Criteria for Large, Mid & Small companies - Bank of Baroda Banks 0.58%
SEBI has demarcated the definitions of large cap, Trent Limited Retailing 0.57%
mid cap and small cap companies as given below. Canara Bank Banks 0.55%
Large Cap: 1st -100th company in terms of full market Pharmaceuticals & Biotech-
capitalization, Mid Cap: 101st -250th company in terms Zydus Lifesciences Limited 0.54%
nology 92.12%
of full market capitalization, Small Cap: 251st company
Britannia Industries Limited Food Products 0.54%
onwards in terms of full market capitalization of large/
mid/small cap companies. A list of stocks as per above Dabur India Limited Personal Products 0.52%
criteria will be uploaded on AMFI website and updated Bharat Petroleum Corpora-
Petroleum Products 0.50%
Large Cap Mid Cap Debt
every six months by AMFI. tion Limited
Union Bank of India Banks 0.42%
FSN ECommerce Ventures
Retailing 0.17%
Limited

6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles for bringing uniformity in
Benchmarks of Mutual Fund Schemes’ has introduced two-tiered structure for benchmarking of certain categories of schemes. Accordingly, the
benchmark has been changed to NIFTY 100 TRI Index which has been classified as Tier 1 benchmark. Furthermore , the same is effective from 01
December 2021

This product is suitable for investors who are seeking*:

Moderate Moderately
High
Low to High • To create wealth over long term
Moderate

• Investment in predominantly large cap equity and equity related securities

Low
Very High *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

10
 HSBC Large and Mid Cap Fund
Large and Mid Cap Fund - An open ended equity scheme investing in both large cap and mid cap stocks.
Investment Objective: To seek long term capital growth through investments in both large cap and mid cap stocks.
However, there is no assurance that the investment objective of the Scheme will be achieved.

Fund Details Industry/ Industry/

Issuer % to Net Assets Issuer % to Net Assets
Rating Rating
Date of Allotment 28-Mar-19 EQUITY 98.57% Axis Bank Limited Banks 0.36%
NIFTY Large Midcap HDFC Bank Limited Banks 5.63% Max Healthcare Institute Limited Healthcare Services 0.34%
Benchmark Reliance Industries Limited Petroleum Products 4.25% Polycab India Limited Industrial Products 0.31%
250 TRI6 ICICI Bank Limited Banks 4.11% APL Apollo Tubes Limited Industrial Products 0.31%
The Indian Hotels Company Cash Equivalent 1.43%
NAV (as on 30.04.23) Leisure Services 4.11%
TREPS* 1.65%
Limited
Larsen and Toubro Limited Construction 3.68% Net Current Assets: -0.22%
Growth ₹ 15.9075
Persistent Systems Limited IT - Software 3.27% Total Net Assets as on
100.00%
Direct Growth ₹ 16.9891 Cholamandalam Investment and
Finance 3.04%
30-APRIL-2023
Finance Company Limited *TREPS : Tri-Party Repo
AUM (as on 30.04.23) ₹ 2042.70 Cr Cement & Cement
UltraTech Cement Limited 2.87%
AAUM (for the month Products
₹ 1997.97 Cr KPIT Technologies Limited IT - Software 2.82%
of Apr) TVS Motor Company Limited Automobiles 2.81%
Fund Manager & Experience Sun Pharmaceutical Industries Pharmaceuticals &
2.69%
Limited Biotechnology Industry Allocation
Cheenu Gupta CG Power and Industrial Solutions
Electrical Equipment 2.57% Banks 15.56%
Total Experience 17 Years Limited
Hindustan Unilever Limited Diversified FMCG 2.09% IT - Software 10.06%
Managing this fund Since Nov 26, 2022 The Federal Bank Limited Banks 1.98% Auto Components 6.71%
Neelotpal Sahai Navin Fluorine International Chemicals & Petro-
1.87% Electrical Equipment 6.61%
Limited chemicals
Total Experience 29 Years Britannia Industries Limited Food Products 1.84% Leisure Services 5.75%
Managing this fund Since Mar 28, 2019 Schaeffler India Limited Auto Components 1.80% Automobiles 5.65%
Mahindra and Mahindra Limited Automobiles 1.73% Pharmaceuticals & Biotechnology 4.94%
Minimum Investment1 Phoenix Mills Limited Realty 1.69% Petroleum Products 4.25%
Westlife Development Limited Leisure Services 1.64%
Lumpsum ₹ 5,000 Shoppers Stop Limited Retailing 1.64% Chemicals & Petrochemicals 4.14%
Infosys Limited IT - Software 1.60% Construction 3.68%
SIP## Please refer page 72
Godrej Consumer Products Finance 3.62%
Personal Products 1.57%
Additional Purchase ₹ 1,000 Limited Cement & Cement Products 3.42%
Siemens Limited Electrical Equipment 1.57%
Entry load: “NA” ZF Commercial Vehicle Control
Consumer Durables 2.97%
Auto Components 1.55% Aerospace & Defense 2.67%
Exit load: If the units redeemed or Systems India Limited
Chemicals & Petro- Capital Markets 2.58%
switched out are upto 10% of the units pur- SRF Limited 1.54%
chemicals Retailing 2.31%
chased or switched in (‘’the limit””) with- Aerospace &
Bharat Electronics Limited 1.53% Diversified FMCG 2.09%
in 1 year from the date of allotment - Nil Defense Personal Products 2.07%
If units redeemed or switched out NTPC Limited Power 1.39%
Prudent Corporate Advisory Food Products 1.84%
are over and above the limit within 1 Capital Markets 1.34% Realty
Services Limited 1.69%
year from the date of allotment - 1% ABB India Limited Electrical Equipment 1.33% Power 1.39%
If units are redeemed or switched out on or IndusInd Bank Limited Banks 1.27% Agricultural Food & other Products 0.97%
after 1 year from the date of allotment - Nil LTIMindtree Limited IT - Software 1.25%
Industrial Manufacturing 0.96%
HDFC Asset Management
Quantitative Data2 Company Limited
Capital Markets 1.24% Transport Services 0.70%
Canara Bank Banks 1.24% Industrial Products 0.62%
Standard Deviation 13.53%
Minda Industries Limited Auto Components 1.23% Fertilizers & Agrochemicals 0.50%
Beta (Slope) 0.78 Hindustan Aeronautics Limited
Aerospace &
1.14%
Agricultural Commercial &
0.48%
Defense Construction Vehicles
Sharpe Ratio 3 1.02 Thermax Limited Electrical Equipment 1.14% Healthcare Services 0.34%
Sonata Software Limited IT - Software 1.12% Reverse Repos/TREPS 1.65%
R2 0.87 Eicher Motors Limited Automobiles 1.11% Net Current Assets -0.22%
Balkrishna Industries Limited Auto Components 0.99%
Month End Total Expenses Ratios Kansai Nerolac Paints Limited Consumer Durables 0.99%
(Annualized)4 State Bank of India Banks 0.97% Portfolio Classification By Market Segment Class (%)
Agricultural Food &
Regular5 2.08% Marico Limited 0.97%
other Products 1.43%
Direct 1.04% Industrial Manufac- 8.81%
GMM Pfaudler Limited 0.96%
turing
Portfolio Turnover Blue Star Limited Consumer Durables 0.84%
0.67
(1 year) Pharmaceuticals &
Cipla Limited 0.83%
Biotechnology
1
in multiples of Re 1 thereafter. Chemicals & Petro-
Gujarat Fluorochemicals Limited 0.73%
chemicals
2
Quantitative Data disclosed are as per monthly Pharmaceuticals &
returns (Annualized) for the last 3 years. Abbott India Limited 0.73%
Biotechnology
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as VRL Logistics Limited Transport Services 0.70%
Pharmaceuticals &
on Apr 28, 2023) Biocon Limited
Biotechnology
0.69%
36.58% 53.18%
4
TER Annualized TER including GST on Trent Limited Retailing 0.67%
Sona BLW Precision Forgings
Investment Management Fees Limited
Auto Components 0.60%
5
Continuing plans Housing Development Finance Large Cap Mid Cap Small Cap
Finance 0.58%
Corporation Limited
6
SEBI vide its circular no. SEBI/HO/IMD/ Mayur Uniquoters Limited Consumer Durables 0.57% Debt
IMD-II DF3/P/CIR/2021/652 dated October Titan Company Limited Consumer Durables 0.57%
27, 2021, on ‘Guiding Principles for bringing Cement & Cement
JK Cement Limited 0.55%
Products Note - Criteria for Large, Mid & Small companies - SEBI has demarcated the
uniformity in Benchmarks of Mutual Fund Endurance Technologies Limited Auto Components 0.54% definitions of large cap, mid cap and small cap companies as given below.
Schemes’ has introduced two-tiered structure Dabur India Limited Personal Products 0.50% Large Cap: 1st -100th company in terms of full market capitalization, Mid
for benchmarking of certain categories of PI Industries Litmited
Fertilizers & Agro-
0.50% Cap: 101st -250th company in terms of full market capitalization, Small
schemes. Accordingly, the benchmark has been chemicals Cap: 251st company onwards in terms of full market capitalization of
Agricultural Commer-
classified as Tier 1 benchmark. Furthermore, large/mid/small cap companies. A list of stocks as per above criteria will
Escorts Kubota Limited cial & Construction 0.48% be uploaded on AMFI website and updated every six months by AMFI.
the same is effective from 01 December 2021 Vehicles

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Long term wealth creation and income
Low to
Moderate
High • Investment predominantly in equity and equity related securities of Large and Mid cap companies
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low
Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

11
 HSBC Mid Cap Fund
Mid Cap Fund - An open ended equity scheme predominantly investing in mid cap stocks

Investment Objective: To seek to generate long-term capital growth from an actively managed portfolio of
equity and equity related securities of predominantly mid cap companies. However, there can be no assurance or
guarantee that the investment objective of the scheme would be achieved.

% to
Fund Details Issuer Industry/ Rating Industry Allocation
Net Assets
Date of Allotment 09-Aug-04 EQUITY 93.90%
Ratnamani Metals and Tubes Limited Industrial Products 3.24% Pharmaceuticals & Biotechnology 11.29%
Pharmaceuticals & Biotech-
Benchmark: NIFTY Midcap 150 TRI6 Abbott India Limited
nology
2.55% Industrial Products 10.90%
Bosch Limited Auto Components 2.50% Finance 7.84%
NAV (as on 30.04.23) Sundaram Finance Limited Finance 2.48% Auto Components 6.43%
Indian Bank Banks 2.42%
Growth ₹ 207.8907 Banks 5.34%
Emami Limited Personal Products 2.29%
CRISIL Limited Finance 2.18% IT - Software 4.22%
Direct Growth ₹ 229.4655 The Indian Hotels Company Limited Leisure Services 2.00% Cement & Cement Products 4.20%
Cummins India Limited Industrial Products 1.99% Fertilizers & Agrochemicals 3.29%
AUM (as on 30.04.23) ₹ 7048.05 Cr NTPC Limited Power 1.92%
The Ramco Cements Limited Cement & Cement Products 1.85% Healthcare Services 3.27%
AAUM (for the month Capital Markets 2.97%
₹ 6978.99 Cr 3M India Limited Diversified 1.81%
of Apr) IPCA Laboratories Limited
Pharmaceuticals & Biotech-
1.74% Consumer Durables 2.88%
nology
Power 2.74%
Fund Manager & Experience Bayer Cropscience Limited Fertilizers & Agrochemicals 1.73%
Multi Commodity Exchange of India Limited Capital Markets 1.69% Chemicals & Petrochemicals 2.55%
Vihang Shankar Naik Blue Dart Express Limited Transport Services 1.66% Personal Products 2.29%
Sundram Fasteners Limited Auto Components 1.66%
Automobiles 2.14%
Total Experience 16 Years TVS Motor Company Limited Automobiles 1.57%
Cholamandalam Investment and Finance Leisure Services 2.00%
Managing this fund Since June 28 2016 Company Limited
Finance 1.56%
Realty 1.94%
APL Apollo Tubes Limited Industrial Products 1.55%
Cheenu Gupta MphasiS Limited IT - Software 1.55%
Diversified 1.81%
Transport Services 1.66%
Total Experience 17 Years Godfrey Phillips India Limited Cigarettes & Tobacco Products 1.53%
Max Healthcare Institute Limited Healthcare Services 1.52% Insurance 1.53%
Managing this fund Since Nov 26 2022 Tata Communications Limited Telecom - Services 1.52% Cigarettes & Tobacco Products 1.53%
Balkrishna Industries Limited Auto Components 1.44%
Minimum Investment1 Pharmaceuticals & Biotech- Telecom - Services 1.52%
Suven Pharmaceuticals Limited 1.42%
nology Gas 1.47%
Lumpsum ₹ 5,000 Jindal Steel and Power Limited Ferrous Metals 1.42% Ferrous Metals 1.42%
Pharmaceuticals & Biotech-
Lupin Limited 1.32% Retailing 1.11%
SIP## Please refer page 72 nology
HDFC Asset Management Company Electrical Equipment 1.08%
Capital Markets 1.28%
Additional Purchase ₹ 1,000 Limited
Pharmaceuticals & Biotech- Aerospace & Defense 1.07%
Alkem Laboratories Limited 1.25%
Entry load: “NA” nology Petroleum Products 1.01%
AIA Engineering Limited Industrial Products 1.25% Oil 0.91%
Exit load: • If the units redeemed or switched The Federal Bank Limited Banks 1.22%
Construction 0.77%
Dalmia Bharat Limited Cement & Cement Products 1.21%
out are upto 10% of the units purchased or Max Financial Services Limited Insurance 1.16% Beverages 0.40%
switched in (“the limit”) within 1 year from the Voltas Limited Consumer Durables 1.13% Entertainment 0.32%
Canara Bank Banks 1.13%
date of allotment - Nil Trent Limited Retailing 1.11%
Reverse Repos/TREPS 6.44%
• If units redeemed or switched out are over Supreme Industries Limited Industrial Products 1.09% Net Current Assets -0.34%
Coromandel International Limited Fertilizers & Agrochemicals 1.08%
and above the limit within 1 year from the date Bharat Electronics Limited Aerospace & Defense 1.07%
of allotment - 1% Eris Lifesciences Limited
Pharmaceuticals & Biotech-
1.07%
nology
• If units are redeemed or switched out on or Gujarat State Petronet Limited Gas 1.05%
Gujarat Fluorochemicals Limited Chemicals & Petrochemicals 0.99% Portfolio Classification By Market Segment Class (%)
after 1 year from the date of allotment - Nil Godrej Properties Limited Realty 0.98%
Shree Cement Limited Cement & Cement Products 0.97%
Quantitative Data 2
Apollo Hospitals Enterprise Limited Healthcare Services 0.97%
6.10%
Oberoi Realty Limited Realty 0.96% 12.61%
Standard Deviation 13.50% Power Finance Corporation Limited Finance 0.96%
Birlasoft Limited IT - Software 0.94%
Beta (Slope) 0.73 Oil India Limited Oil 0.91%
Aarti Industries Limited Chemicals & Petrochemicals 0.84%
Sharpe Ratio 3 1.09 Pharmaceuticals & Biotech-
15.42%
Pfizer Limited 0.83% 0.14%
R2 0.93
nology
Torrent Power Limited Power 0.82%
Month End Total Expenses Ratios Timken India Limited
Syngene International Limited
Industrial Products
Healthcare Services
0.80%
0.78%
(Annualized)4 HG Infra Engineering Limited Construction 0.77%
Johnson Controls Hitachi Air Conditioning
Regular5 1.80% India Limited
Consumer Durables 0.75%
Tube Investments of India Limited Auto Components 0.73%
Direct 0.72% Atul Limited Chemicals & Petrochemicals 0.72%
Pharmaceuticals & Biotech-
Portfolio Turnover (1 Zydus Lifesciences Limited 0.69%
0.22 nology
65.73%
year) Manappuram Finance Limited Finance 0.66%
Persistent Systems Limited IT - Software 0.63%
1
in multiples of Re 1 thereafter. Sonata Software Limited IT - Software 0.62%
2
Quantitative Data disclosed are as per monthly returns Crompton Greaves Consumer Electricals
Consumer Durables 0.61%
(Annualized) for the last 3 years. Limited Mid Cap Small Cap Large Cap
Thermax Limited Electrical Equipment 0.60%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr Punjab National Bank Limited Banks 0.57% Debt Others
28, 2023) Eicher Motors Limited Automobiles 0.57%
Carborundum Universal Limited Industrial Products 0.53%
4
TER Annualized TER including GST on Investment Castrol India Limited Petroleum Products 0.51%
Management Fees Bharat Petroleum Corporation Limited Petroleum Products 0.50%
5
Continuing plans ABB India Limited Electrical Equipment 0.48%
Tech Mahindra Limited IT - Software 0.48%
6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ PI Industries Litmited Fertilizers & Agrochemicals 0.48%
CIR/2021/652 dated October 27, 2021, on ‘Guiding Polycab India Limited Industrial Products 0.45%
Principles for bringing uniformity in Benchmarks of Mutual Radico Khaitan Limited Beverages 0.40%
Kajaria Ceramics Limited Consumer Durables 0.39%
Fund Schemes’ has introduced two-tiered structure for General Insurance Corporation Of India Insurance 0.37%
benchmarking of certain categories of schemes. Accordingly, Zee Entertainment Enterprises Limited Entertainment 0.32%
the benchmark has been changed to S&P BSE 150 MidCap Laurus Labs Limited
Pharmaceuticals & Biotech-
0.28%
nology
TRI Index which has been classified as Tier 1 benchmark. Aegis Logistics Limited Gas 0.24%
Furthermore , the same is effective from 01 December 2021 Gujarat Gas Limited Gas 0.18%
Note - Criteria for Large, Mid & Small companies - JK Cement Limited Cement & Cement Products 0.17%
Pharmaceuticals & Biotech-
SEBI has demarcated the definitions of large cap, Aarti Pharmalabs Limited
nology
0.14%
mid cap and small cap companies as given below. Schaeffler India Limited Auto Components 0.10%
Large Cap: 1st -100th company in terms of full market Cash Equivalent 6.10%
capitalization, Mid Cap: 101st -250th company in terms TREPS* 6.44%
Net Current Assets: -0.34%
of full market capitalization, Small Cap: 251st company Total Net Assets as on 30-APRIL-2023 100.00%
onwards in terms of full market capitalization of large/mid/
*TREPS : Tri-Party Repo; ^ Awaiting Listing
small cap companies. A list of stocks as per above criteria
will be uploaded on AMFI website and updated every six
months by AMFI.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Long term wealth creation
Low to
Moderate
High
• Investment in equity and equity related securities of mid cap companies
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low
Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

12
 HSBC Flexi Cap Fund
Flexi Cap Fund - An open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks.
Investment Objective: To seek long term capital growth through investments made dynamically across market capitalization
(i.e. Large, Mid, and Small Caps). The investment could be in any one, two or all three types of market capitalization. The
Scheme aims to predominantly invest in equity and equity related securities.However, in line with the asset allocation pattern
of the Scheme, it could move its assets between equity and fixed income securities depending on its view on these markets.
However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Fund Details Industry/

Issuer % to Net Assets Industry Allocation
Rating
Date of Allotment 24-Feb-04
EQUITY 96.72%
Banks 17.36%
Benchmark NIFTY 500 TRI6 HDFC Bank Limited Banks 5.18%
Reliance Industries Limited Petroleum Products 4.78% IT - Software 10.25%
ITC Limited Diversified FMCG 4.20%
NAV (as on 30.04.23) ICICI Bank Limited Banks 4.06% Pharmaceuticals & Biotechnology 6.74%
Infosys Limited IT - Software 4.04% Finance 6.70%
Growth ₹ 132.3965 Housing Development Finance Corpo-
Finance 3.92%
ration Limited Diversified FMCG 5.89%
Direct Growth ₹ 145.1995 Tata Consultancy Services Limited IT - Software 2.89% Petroleum Products 5.28%
Kotak Mahindra Bank Limited Banks 2.31%
AUM (as on 30.04.23) ₹ 3216.71 Cr Larsen and Toubro Limited Construction 2.22% Cement & Cement Products 4.79%
Varun Beverages Limited Beverages 2.20%
Electrical Equipment 4.03%
AAUM (for the month Bharti Airtel Limited Telecom - Services 1.92%
₹ 3165.38 Cr State Bank of India Banks 1.90% Automobiles 3.87%
of Apr) NTPC Limited Power 1.88%
Apar Industries Limited Electrical Equipment 1.86% Auto Components 3.82%
Fund Manager & Experience Hindustan Unilever Limited Diversified FMCG 1.69% Construction 3.28%
Pharmaceuticals &
Vihang Shankar Naik Sun Pharmaceutical Industries Limited
Biotechnology
1.69% Power 2.99%
Axis Bank Limited Banks 1.54% Telecom - Services 2.70%
Total Experience 16 Yrs Bosch Limited Auto Components 1.46%
Industrial Products 2.67%
Managing this fund Since Nov, 26 2022 Bajaj Holdings and Investments Limited
Godrej Consumer Products Limited
Finance
Personal Products
1.45%
1.43% Personal Products 2.62%
Venugopal Manghat Maruti Suzuki India Limited Automobiles
Cement & Cement
1.43%
Beverages 2.20%
The Ramco Cements Limited 1.42%
Total Experience 28 Years Products Gas 1.68%
Siemens Limited Electrical Equipment 1.38%
Managing this fund Since Nov, 26 2022 Indian Bank Banks 1.31% Insurance 1.42%
HCL Technologies Limited IT - Software 1.29% Paper Forest & Jute Products 1.20%
Minimum Investment1 Mahindra CIE Automotive Limited Auto Components 1.29%
Cement & Cement Aerospace & Defense 1.03%
UltraTech Cement Limited 1.23%
Lumpsum ₹ 5,000 Products Ferrous Metals 1.01%
Finolex Cables Limited Industrial Products 1.20%
SIP ##
Please refer page 72 West Coast Paper Mills Limited
Paper Forest & Jute
1.20%
Healthcare Services 0.98%
Products Realty 0.96%
Additional Purchase ₹ 1,000 Emami Limited Personal Products 1.19%
MphasiS Limited IT - Software 1.15% Consumer Durables 0.89%
Entry load: “NA” Maharashtra Seamless Limited Industrial Products 1.14% Oil 0.85%
Power Grid Corporation of India Limited Power 1.11%
Exit load: If the units redeemed or switched out are Bajaj Auto Limited Automobiles 1.07% Non - Ferrous Metals 0.54%
upto 10% of the units purchased or switched in (‘’the Pharmaceuticals & Food Products 0.50%
Zydus Lifesciences Limited 1.07%
Biotechnology
limit”) within 1 year from the date of allotment - Nil Tube Investments of India Limited Auto Components 1.07% Entertainment 0.29%
If units redeemed or switched out are over and above Canara Bank Banks 1.06% Capital Markets 0.18%
the limit within 1 year from the date of allotment - 1% Ashoka Buildcon Limited Construction 1.06%
Bharat Electronics Limited Aerospace & Defense 1.03% Reverse Repos/TREPS 3.91%
If units are redeemed or switched out on or after 1 Pharmaceuticals &
year from the date of allotment - Nil Dishman Carbogen Amcis Limited 1.02% Net Current Assets -0.63%
Biotechnology
Pharmaceuticals &
Quantitative Data 2 Lupin Limited
Biotechnology
0.96%
Mahindra Lifespace Developers Limited Realty 0.96%
Standard Deviation 13.14% ICICI Prudential Life Insurance
Insurance 0.94%
Beta (Slope) 0.82
Company Limited Portfolio Classification By Market Segment Class (%)
Aegis Logistics Limited Gas 0.93%
Cement & Cement
Sharpe Ratio 3 1.08 Shree Cement Limited 0.92%
Products 3.28%
R2 Havells India Limited Consumer Durables 0.89%
0.96 Tata Motors Limited Automobiles 0.85% 13.99%
Oil India Limited Oil 0.85%
Month End Total Expenses Ratios Dr Reddy's Laboratories Limited
Pharmaceuticals &
0.82%
Biotechnology
(Annualized)4 Muthoot Finance Limited Finance 0.82%
TD Power Systems Limited Electrical Equipment 0.79%
Regular 5
2.01% Tata Communications Limited Telecom - Services 0.78%
Indraprastha Gas Limited Gas 0.75%
Direct 1.22% Pharmaceuticals &
Cipla Limited 0.70%
Biotechnology
Portfolio Turnover
0.33 Dalmia Bharat Limited
Cement & Cement
0.64%
(1 year) Products 14.05%
Sonata Software Limited IT - Software 0.61%
Cement & Cement
1
in multiples of Re 1 thereafter. Birla Corporation Limited 0.58% 68.68%
Products
2
Quantitative Data disclosed are as per monthly JSW Steel Limited Ferrous Metals 0.57%
returns Annualized) for the last 3 years. Global Health Limited/India Healthcare Services 0.54%
Hindalco Industries Limited Non - Ferrous Metals 0.54%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr Mahindra and Mahindra Limited Automobiles 0.52% Large Cap Mid Cap Small Cap
28, 2023) IIFL Finance Limited Finance 0.51%
Bharat Petroleum Corporation Limited Petroleum Products 0.50%
4
TER Annualized TER including GST on Investment Britannia Industries Limited Food Products 0.50% Debt
Management Fees Life Insurance Corporation of India
Insurance 0.48%
Limited
5
Continuing plans Pharmaceuticals &
Pfizer Limited 0.48%
Biotechnology
Note - Criteria for Large, Mid & Small companies - Tata Steel Limited Ferrous Metals 0.44%
SEBI has demarcated the definitions of large cap, Apollo Hospitals Enterprise Limited Healthcare Services 0.44%
mid cap and small cap companies as given below. Zee Entertainment Enterprises Limited Entertainment 0.29%
Large Cap: 1st -100th company in terms of full market Tech Mahindra Limited IT - Software 0.27%
KEI Industries Limited Industrial Products 0.18%
capitalization, Mid Cap: 101st -250th company in terms Prudent Corporate Advisory Services
of full market capitalization, Small Cap: 251st company Capital Markets 0.18%
Limited
onwards in terms of full market capitalization of large/ APL Apollo Tubes Limited Industrial Products 0.15%
mid/small cap companies. A list of stocks as per above Cash Equivalent 3.28%
TREPS* 3.91%
criteria will be uploaded on AMFI website and updated Net Current Assets: -0.63%
every six months by AMFI. Total Net Assets as on 30-APRIL-2023 100.00%

*TREPS : Tri-Party Repo

6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles for bringing uniformity in
Benchmarks of Mutual Fund Schemes’ has introduced two-tiered structure for benchmarking of certain categories of schemes. Accordingly, the
benchmark has been classified as Tier 1 benchmark. Furthermore , the same is effective from 01 December 2021.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • To create wealth over long term
Low to
Moderate
High
• Invests in equity and equity related securities across market capitalisations
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low
Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

13
 HSBC Multi Cap Fund
Multicap Fund - An open ended equity scheme investing across large cap, mid cap, small cap stocks
Investment Objective: The investment objective of the fund is to generate long-term capital growth from an actively managed
portfolio of equity and equity related securities across market capitalization. However, there can be no assurance or guarantee that
the investment objective of the scheme would be achieved

Fund Details Issuer5 Industry/Rating % to Net Assets Issuer5 Industry/Rating % to Net Assets
EQUITY 96.00% Pharmaceuticals &
Date of Allotment 30-Jan-23 Suven Pharmaceuticals Limited
Biotechnology
0.74%
ICICI Bank Limited Banks 3.65%
NIFTY 500 Multicap Karur Vysya Bank Limited Banks 0.71%
Benchmark Larsen and Toubro Limited Construction 3.34%
50:25:25 TRI4 ITC Limited Diversified FMCG 3.20%
ABB India Limited Electrical Equipment 0.63%
Gokaldas Exports Limited Textiles & Apparels 0.60%
NAV (as on 30.04.23) HDFC Bank Limited Banks 2.96%
State Bank of India Banks 2.82% Maharashtra Seamless Limited Industrial Products 0.53%
Growth ₹ 10.3128 NTPC Limited Power 2.72% JB Chemicals and Pharmaceu- Pharmaceuticals &
0.50%
Direct Growth ₹ 10.3473 Varun Beverages Limited Beverages 2.60% ticals Limited Biotechnology
Kirloskar Oil Eng Limited Industrial Products 2.41% Aegis Logistics Limited Gas 0.49%
AUM (as on 30.04.23) ₹ 1277.96 Cr Global Health Limited/India Healthcare Services 0.35%
APL Apollo Tubes Limited Industrial Products 2.25%
AAUM (for the month GE TandD India Limited Electrical Equipment 0.28%
₹ 1261.95 Cr KPIT Technologies Limited IT - Software 2.16%
of Apr) Pharmaceuticals & Phoenix Mills Limited Realty 0.01%
Zydus Lifesciences Limited 2.03%
Fund Manager & Experience Biotechnology Cash Equivalent 4.00%
Reliance Industries Limited Petroleum Products 1.98%
Venugopal Manghat (For Equity) TREPS* 4.24%
Cement & Cement
The Ramco Cements Limited 1.92%
Total Experience 28 Years Products Net Current Assets: -0.24%
Managing this fund Since Jan 30, 2023 KPR Mill Limited Textiles & Apparels 1.90% Total Net Assets as on 30-APRIL-2023 100.00%
Kapil Lal Punjabi (For Fixed Income) Trent Limited Retailing 1.86%
*TREPS : Tri-Party Repo
Lemon Tree Hotels Limited Leisure Services 1.83%
Total Experience 16 Years TVS Motor Company Limited Automobiles 1.80%
Managing this fund Since Jan 30, 2023 Cement & Cement Industry Allocation5
UltraTech Cement Limited 1.77%
Minimum Investment 1 Products
TD Power Systems Limited Electrical Equipment 1.76% Banks 15.71%
Lumpsum ₹ 5,000
Power Mech Projects Limited Construction 1.74% Industrial Products 12.04%
SIP## Please refer page 72 Canara Bank Banks 1.70% IT - Software 8.47%
Additional Purchase ₹ 1,000 Sumitomo Chemical India Limited Fertilizers & Agrochemicals 1.67% Construction 7.29%
Sonata Software Limited IT - Software 1.64% Electrical Equipment 4.72%
Entry load: “NA” Pharmaceuticals & Biotechnology 4.40%
The Indian Hotels Company
Leisure Services 1.63%
Exit load: If units redeemed or switched out are Limited Cement & Cement Products 3.69%
upto 10% of the units purchased or switched in within Ratnamani Metals and Tubes Leisure Services 3.46%
1 year from the date of allotment – Nil Industrial Products 1.63%
Limited Automobiles 3.34%
If units redeemed or switched out are over and above Mahindra and Mahindra Limited Automobiles 1.54% Diversified FMCG 3.20%
the limit within 1 year from the date of allotment – 1%
Chemicals & Petro- Fertilizers & Agrochemicals 2.85%
If units are redeemed or switched out on or after 1 Gujarat Fluorochemicals Limited 1.48%
chemicals Power
year from the date of allotment. – Nil 2.72%
Axis Bank Limited Banks 1.45% Beverages 2.60%
Month End Total Expenses Ratios KEI Industries Limited Industrial Products 1.45% Textiles & Apparels 2.50%
(Annualized)2 PNC Infratech Limited Construction 1.43% Agricultural Food & other Products 2.34%
Regular3 2.14% Indian Bank Banks 1.42% Petroleum Products 1.98%
Siemens Limited Electrical Equipment 1.29%
Direct 0.78% Consumer Durables 1.98%
Agricultural Food & other Oil
CCL Products (India) Limited 1.26% 1.97%
1
in multiples of Re 1 thereafter. Products
Retailing 1.86%
2
TER Annualized TER including GST on Investment Management PI Industries Litmited Fertilizers & Agrochemicals 1.18%
Fees Auto Components 1.63%
Sun Pharmaceutical Industries Pharmaceuticals &
3
Continuing plans 1.13% Chemicals & Petrochemicals 1.48%
Limited Biotechnology
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ Food Products 1.10%
CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles AIA Engineering Limited Industrial Products 1.12%
Ferrous Metals 1.04%
for bringing uniformity in Benchmarks of Mutual Fund Schemes’ Infosys Limited IT - Software 1.12%
has introduced two-tiered structure for benchmarking of certain Aerospace & Defense 1.03%
Tech Mahindra Limited IT - Software 1.12%
categories of schemes. Accordingly, the benchmark has been Personal Products 0.91%
classified as Tier 1 benchmark. Furthermore , the same is Britannia Industries Limited Food Products 1.10%
effective from 01 December 2021 Realty 0.85%
Agricultural Food & other
Balrampur Chini Mills Limited 1.08% Gas 0.49%
Note - Criteria for Large, Mid & Small companies - SEBI has Products
demarcated the definitions of large cap, mid cap and small cap
Voltas Limited Consumer Durables 1.07% Healthcare Services 0.35%
companies as given below.
Jindal Stainless Limited Ferrous Metals 1.04% Reverse Repos/TREPS 4.24%
Large Cap: 1st -100th company in terms of full market
capitalization, Mid Cap: 101st -250th company in terms of full Grindwell Norton Limted Industrial Products 1.03% Net Current Assets -0.24%
market capitalization, Small Cap: 251st company onwards in terms Bharat Electronics Limited Aerospace & Defense 1.03%
of full market capitalization of large/mid/small cap companies. A list
of stocks as per above criteria will be uploaded on AMFI website The Federal Bank Limited Banks 1.00% Portfolio Classification By Market Segment Class (%)5
and updated every six months by AMFI. Oil and Natural Gas Corpora-
Oil 1.00%
tion Limited 4.00%
5
The scheme will invest as per Investment Objective / Asset
Allocation mentioned in the SID. Currently, the Scheme portfolio Oil India Limited Oil 0.97%
is under construction. Safari Industries India Limited Consumer Durables 0.91%
Godrej Consumer Products 26.76%
Personal Products 0.91%
Limited
Rolex Rings Limited Auto Components 0.85%
Mahindra Lifespace Developers
Realty 0.84%
Limited
Birlasoft Limited IT - Software 0.83%
RHI Magnesita India Limited Industrial Products 0.82%
Persistent Systems Limited IT - Software 0.82% 41.18%
28.06%
Carborundum Universal Limited Industrial Products 0.80%
Minda Industries Limited Auto Components 0.78%
KNR Constructions Limited Construction 0.78% Large Cap Small Cap Mid Cap
LTIMindtree Limited IT - Software 0.78%
KEC International Limited Electrical Equipment 0.76% Debt

Moderate Moderately This product is suitable for investors who are seeking*:
High
Low to High • To create wealth over long-term
Moderate
• Investment predominantly in equity and equity related securities across market capitalisation
Low
Very High *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

14
 HSBC Small Cap Fund
Small Cap Fund - An open ended equity scheme predominantly investing in small cap stocks.
Investment Objective: To generate long term capital growth from an actively managed portfolio of equity and
equity related securities of predominantly small cap companies. However, it could move a portion of its assets
towards fixed income securities if the fund manager becomes negative on the Indian equity markets. However,
there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Fund Details Issuer Industry/Rating % to Net Assets Issuer Industry/Rating % to Net Assets
EQUITY 98.10% VMart Retail Limited Retailing 0.14%
Date of Allotment 12-May-14 Apar Industries Limited Electrical Equipment 3.57% Rainbow Children's Medicare
Healthcare Services 0.11%
KPR Mill Limited Textiles & Apparels 3.33% Limited
NIFTY Small Cap KEI Industries Limited Industrial Products 2.75% Oriental Carbon and Chemicals
Benchmark Indian Bank Banks 2.66% Limited
Chemicals & Petrochemicals 0.09%
250 TRI6 Carborundum Universal Limited Industrial Products 2.64% VIP Industries Limited Consumer Durables 0.06%
JK Lakshmi Cement Limited Cement & Cement Products 2.43% Chalet Hotels Limited Leisure Services 0.03%
NAV (as on 30.04.23) Grindwell Norton Limted Industrial Products 2.34% CreditAccess Grameen Limited Finance 0.02%
Sonata Software Limited IT - Software 2.28% Cash Equivalent 1.90%
Growth ₹ 49.7065 TREPS*
Net Current Assets:
2.16%
-0.26%
EIH Limited Leisure Services 2.20%
Total Net Assets as on 30-APRIL-2023 100.00%
Direct Growth ₹ 53.9927 KPIT Technologies Limited
RHI Magnesita India Limited
IT - Software
Industrial Products
2.18%
2.11% *TREPS : Tri-Party Repo
Cera Sanitaryware Limited Consumer Durables 2.11%
AUM (as on 30.04.23) ₹ 9163.42 Cr EID Parry India Limited Fertilizers & Agrochemicals 2.09%
Brigade Enterprises Limited Realty 2.08%
AAUM (for the month APL Apollo Tubes Limited Industrial Products 2.07%
₹ 8937.40 Cr
of Apr) Ratnamani Metals and Tubes
Limited
Industrial Products 2.07% Industry Allocation
Fund Manager & Experience Finolex Cables Limited Industrial Products 1.94%
Tube Investments of India Limited Auto Components 1.73% Industrial Products 23.98%
Venugopal Manghat Mahindra Lifespace Developers
Realty 1.72% IT - Software 7.04%
Limited
Total Experience 28 Years Finolex Industries Limited
HG Infra Engineering Limited
Industrial Products
Construction
1.70%
1.56%
Auto Components 6.83%
Managing this fund Since Dec 17, 2019 Polycab India Limited Industrial Products 1.53% Consumer Durables 6.34%
City Union Bank Limited Banks 1.44% Banks 5.79%
Vihang Shankar Naik Supreme Petrochem Limited Chemicals & Petrochemicals 1.41%
Textiles & Apparels
Persistent Systems Limited IT - Software 1.36% 5.33%
Total Experience 16 Years GMM Pfaudler Limited Industrial Manufacturing 1.35% Realty 5.26%
Navin Fluorine International Limited Chemicals & Petrochemicals 1.32%
Managing this fund Since Dec 17, 2019 Lakshmi Machine Works Limited Industrial Manufacturing 1.27% Chemicals & Petrochemicals 5.23%
Aegis Logistics Limited Gas 1.24% Electrical Equipment 4.57%
Minimum Investment1 Maharashtra Seamless Limited Industrial Products 1.23%
Jamna Auto Industries Limited Auto Components 1.16% Construction 4.30%
Lumpsum ₹ 5,000 Pharmaceuticals &
Cement & Cement Products
Suven Pharmaceuticals Limited 1.15% 3.30%
SIP## Please refer page 72 Biotechnology
Fertilizers & Agrochemicals 3.02%
Krishna Institute of Medical
Additional Purchase ₹ 1,000 Sciences Limited
Healthcare Services 1.07%
Industrial Manufacturing 2.62%
Karur Vysya Bank Limited Banks 1.06%
Entry load: “NA” Techno Electric and Engineering Leisure Services 2.45%
Construction 1.04%
Company Limited
Exit load: • If the units redeemed or switched out KEC International Limited Electrical Equipment 1.00%
Agricultural Food & other Products 1.84%
are upto 10% of the units purchased or switched in Trent Limited Retailing 0.96% Finance 1.49%
(“the limit”) within 1 year from the date of allotment Agricultural Food & other Pharmaceuticals & Biotechnology 1.30%
CCL Products (India) Limited 0.96%
Products
- Nil Welspun India Limited Textiles & Apparels 0.95% Gas 1.24%
• If units redeemed or switched out are over and Sumitomo Chemical India Limited Fertilizers & Agrochemicals 0.93% Healthcare Services 1.18%
above the limit within 1 year from the date of allot- Apollo Pipes Limited Industrial Products 0.89%
Can Fin Homes Limited Finance 0.89% Retailing 1.10%
ment - 1% Agricultural Food & other
Balrampur Chini Mills Limited 0.88% Paper Forest & Jute Products 1.00%
• If units are redeemed or switched out on or after 1 Products
year from the date of allotment - Nil Somany Ceramics Limited Consumer Durables 0.88% Transport Services 0.78%
The Ramco Cements Limited Cement & Cement Products 0.87% Capital Markets 0.77%
Quantitative Data2 Kirloskar Pneumatic Co Limited Industrial Products 0.86%
Amber Enterprises India Limited Consumer Durables 0.86% Personal Products 0.41%
Standard Deviation 17.29% Deepak Nitrite Limited Chemicals & Petrochemicals 0.84% Agricultural Commercial and
Construction Vehicles 0.35%
Beta (Slope) 0.79 PNC Infratech Limited
Rolex Rings Limited
Construction
Auto Components
0.82%
0.79% Transport Infrastructure 0.22%
Sharpe Ratio 3 1.79 VRL Logistics Limited Transport Services 0.78%
Ferrous Metals 0.21%
Minda Industries Limited Auto Components 0.76%
R2 0.94 Sunteck Realty Limited Realty 0.75% Beverages 0.15%
Sterling Tools Limited Auto Components 0.73%
Month End Total Expenses Ratios Kajaria Ceramics Limited Consumer Durables 0.72% Reverse Repos/TREPS 2.16%
(Annualized)4 Sobha Limited Realty 0.71% Net Current Assets -0.26%
Dixon Technologies (India) Limited Consumer Durables 0.70%
Regular5 1.76% Gokaldas Exports Limited Textiles & Apparels 0.70%
Birlasoft Limited IT - Software 0.70%
Direct 0.74% MM Forgings Limited Industrial Products 0.69% Portfolio Classification By Market Segment Class (%)
Portfolio Turnover Asahi India Glass Limited Auto Components 0.68%
0.15 Motherson Sumi Wiring India
Auto Components 0.67% 0.96%
(1 year) Limited
Fine Organic Industries Limited Chemicals & Petrochemicals 0.66%
1
in multiples of Re 1 thereafter. Supreme Industries Limited Industrial Products 0.64% 27.23%
Alkyl Amines Chemicals Limited Chemicals & Petrochemicals 0.64%
2
Quantitative Data disclosed are as per monthly The Federal Bank Limited Banks 0.63%
IIFL Finance Limited Finance 0.58%
returns Century Plyboards (India) Limited Consumer Durables 0.56% 1.90%
NCC Limited Construction 0.55%
(Annualized) for the last 3 years. Happiest Minds Technologies
IT - Software 0.52%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr Limited
Prudent Corporate Advisory
28, 2023) Services Limited
Capital Markets 0.48%

TER Annualized TER including GST on Investment

4 Greenply Industries Limited Consumer Durables 0.45%
Emami Limited Personal Products 0.41%
Management Fees Century Textiles and Industries
Paper Forest & Jute Products 0.37%
Limited 69.91%
5
Continuing plans Nitin Spinners Limited Textiles & Apparels 0.35%
Agricultural Commercial &
Note - Criteria for Large, Mid & Small companies - VST Tillers Tractors Limited
Construction Vehicles
0.35% Small Cap Mid Cap Debt
SEBI has demarcated the definitions of large cap, Emami Paper Limited Paper Forest & Jute Products 0.34%
mid cap and small cap companies as given below. Isgec Heavy Engineering Limited Construction 0.33% Large Cap
Apollo Tyres Limited Auto Components 0.31%
Large Cap: 1st -100th company in terms of full market Timken India Limited Industrial Products 0.30%
capitalization, Mid Cap: 101st -250th company in terms Orient Paper and Industries Limited Paper Forest & Jute Products 0.29%
of full market capitalization, Small Cap: 251st company Multi Commodity Exchange of
Capital Markets 0.29%
India Limited
onwards in terms of full market capitalization of large/ Gujarat Fluorochemicals Limited Chemicals & Petrochemicals 0.27%
mid/small cap companies. A list of stocks as per above Gujarat Pipavav Port Limited Transport Infrastructure 0.22%
criteria will be uploaded on AMFI website and updated WIM Plast Limited Industrial Products 0.22%
Lemon Tree Hotels Limited Leisure Services 0.22%
every six months by AMFI. Shyam Metalics and Energy Limited Ferrous Metals 0.21%
JB Chemicals and Pharmaceuticals Pharmaceuticals &
0.15%
Limited Biotechnology
Radico Khaitan Limited Beverages 0.15%

6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles for bringing uniformity in
Benchmarks of Mutual Fund Schemes’ has introduced two-tiered structure for benchmarking of certain categories of schemes. Accordingly, the
benchmark has been classified as Tier 1 benchmark. Furthermore , the same is effective from 01 December 2021.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Long term capital appreciation
Low to
Moderate
High
• Investment predominantly in equity and equity related securities, including equity derivatives in Indian markets with key
theme focus being emerging companies (small cap stocks); and foreign securities
Low
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

15
 HSBC Focused Fund
(Focused Fund – An open ended equity scheme investing in maximum 30 stocks across market caps (i.e. Multi-Cap))
Investment Objective: To seek long term capital growth through investments in a concentrated portfolio of equity & equity
related instruments of up to 30 companies across market capitalization. However, there is no assurance that the investment
objective of the Scheme will be achieved.

Fund Details Issuer Industry/Rating % to Net Assets Industry Allocation

EQUITY 96.49% Banks 29.78%
Date of Allotment 22-July-2020 HDFC Bank Limited Banks 9.74% IT - Software 10.49%
Benchmark Nifty 500 TRI4 ICICI Bank Limited Banks 9.45% Diversified FMCG 9.21%
NAV (as on 30.04.23) Infosys Limited IT - Software 5.53% Industrial Products 6.80%
Reliance Industries Limited Petroleum Products 5.34% Petroleum Products
Growth ₹ 16.1749 5.34%
ITC Limited Diversified FMCG 4.69% Construction 4.52%
Direct Growth ₹ 16.9018
Larsen and Toubro Limited Construction 4.52% Oil 4.09%
AUM (as on 30.04.23) ₹ 1359.92 Cr
Hindustan Unilever Limited Diversified FMCG 4.52% Pharmaceuticals & Biotechnology 3.66%
AAUM (for the month
₹ 1339.34 Cr Axis Bank Limited Banks 4.43%
of Apr) Finance 3.06%
Oil and Natural Gas
Fund Manager & Experience Oil 4.09% Realty 2.98%
Corporation Limited
Neelotpal Sahai (For Equity) Consumer Durables 2.91%
State Bank of India Banks 3.83%
Total Experience 29 Years Telecom - Services 2.64%
Housing Development
Managing this fund Since Jul 29, 2020 Finance Corporation Finance 3.06% Healthcare Services 2.33%
Ankur Arora (For Equity) Limited Fertilizers & Agrochemicals 2.12%
Total Experience 18 Years DLF Limited Realty 2.98% Automobiles 2.09%
Managing this fund Since Nov 26, 2022 Tata Consultancy Services Auto Components 1.69%
IT - Software 2.96%
Minimum Investment1 Limited Aerospace & Defense 1.52%
Lumpsum ₹ 5,000 Titan Company Limited Consumer Durables 2.91% Power 1.26%
SIP## Please refer page 72 Sun Pharmaceutical Pharmaceuticals & Reverse Repos/TREPS 3.79%
2.91%
Industries Limited Biotechnology
Additional Purchase ₹ 1,000 Net Current Assets -0.28%
KEI Industries Limited Industrial Products 2.79%
Entry load: “NA”
Bharti Airtel Limited Telecom - Services 2.64%
Exit load: If the units redeemed or switched out are
upto 10% of the units purchased or switched in (‘’the Canara Bank Banks 2.33%
limit”) within 1 year from the date of allotment - Nil Portfolio Classification By Market Segment Class (%)
Rainbow Children's
If units redeemed or switched out are over and above
Healthcare Services 2.33%
Medicare Limited
the limit within 1 year from the date of allotment - 1% 0.75%
RHI Magnesita India 7.37%
If units are redeemed or switched out on or after 1 Industrial Products 2.25%
Limited 9.87%
year from the date of allotment - Nil
Fertilizers &
Month End Total Expenses Ratios PI Industries Litmited 2.12%
Agrochemicals
(Annualized)2 3.51%
TVS Motor Company
Regular5 2.16% Automobiles 2.09%
Limited
Direct 0.96%
Coforge Limited IT - Software 2.00%
Portfolio Turnover APL Apollo Tubes Limited Industrial Products 1.76%
0.90
(1 year)
Sona BLW Precision
1
in multiples of Re 1 thereafter. Auto Components 1.69%
Forgings Limited 78.50%
2
TER Annualized TER including GST on Investment
Management Fees Bharat Electronics Limited Aerospace & Defense 1.52%
3
Continuing plans NTPC Limited Power 1.26%
Large Cap Mid Cap Small Cap
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ Pharmaceuticals &
CIR/2021/652 dated October 27, 2021, on ‘Guiding Mankind Pharma Limited ^ 0.75%
Biotechnology Debt Other
Principles for bringing uniformity in Benchmarks of
Mutual Fund Schemes’ has introduced two-tiered Cash Equivalent 3.51%
structure for benchmarking of certain categories TREPS* 3.79%
of schemes. Accordingly, the benchmark has been
changed to Nifty 500 TRI which has been classified as Net Current Assets: -0.28%
Tier 1 benchmark. Furthermore, the same is effective Total Net Assets as on 30-APRIL-2023 100.00%
from 01 December 2021
*TREPS : Tri-Party Repo

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Long term wealth creation
Low to
Moderate
High
• Investment in equity and equity related securities across market capitalization in maximum 30 stocks
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low
Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

16
 HSBC Infrastructure Fund
Infrastructure Equity Fund - An open ended equity scheme following Infrastructure theme.
Investment Objective: To generate long term capital appreciation from an actively managed portfolio of equity and equity
related securities by investing predominantly in equity and equity related securities of companies engaged in or expected to
benefit from growth and development of Infrastructure in India. However, there can be no assurance or guarantee that the
investment objective of the scheme would be achieved.

Fund Details Issuer Industry/Rating % to Net Assets Industry Allocation

EQUITY 98.91%
Date of Allotment 27-Sep-07 Larsen and Toubro Limited Construction 9.94%
Industrial Products 22.02%
NIFTY Infrastructure NTPC Limited Power 5.93%
Benchmark Bharat Electronics Limited Aerospace & Defense 5.19% Construction 18.14%
TRI6
HG Infra Engineering Limited Construction 3.77%
Electrical Equipment 11.10%
NAV (as on 30.04.23) Cement & Cement
UltraTech Cement Limited 3.77%
Products Cement & Cement Products 8.33%
Growth ₹ 26.9033
Direct Growth ₹ 29.5576 Reliance Industries Limited Petroleum Products 3.67% Power 5.93%
ABB India Limited Electrical Equipment 3.61%
AUM (as on 30.04.23) ₹ 1561.80 Cr Finolex Cables Limited Industrial Products 3.50% Aerospace & Defense 5.19%
AAUM (for the month Bharti Airtel Limited Telecom - Services 3.33% Industrial Manufacturing 3.91%
₹ 1538.62 Cr Carborundum Universal Limited Industrial Products 3.29%
of Apr) Transport Services 3.87%
Aegis Logistics Limited Gas 3.06%
Fund Manager & Experience RHI Magnesita India Limited Industrial Products 2.44% Petroleum Products 3.67%
Kennametal India Limited Industrial Manufacturing 2.44%
Venugopal Manghat Apar Industries Limited Electrical Equipment 2.43% Realty 3.62%
VRL Logistics Limited Transport Services 2.41% Telecom - Services 3.42%
Total Experience 28 Years Cement & Cement
Managing this fund Since Dec 17, 2019 The Ramco Cements Limited
Products
2.36% Gas 3.06%
Grindwell Norton Limted Industrial Products 2.15%
Gautam Bhupal Paper Forest & Jute Products 1.73%
KEC International Limited Electrical Equipment 2.04%
Auto Components 1.53%
Total Experience Over 18 Years Kirloskar Oil Eng Limited Industrial Products 1.94%
Managing this fund Since Nov 26, 2022 KEI Industries Limited Industrial Products 1.94% Non - Ferrous Metals 1.40%
Brigade Enterprises Limited Realty 1.91%
Minimum Investment1 PNC Infratech Limited Construction 1.81% Consumer Durables 1.03%
Century Textiles and Industries Paper Forest & Jute Agricultural, Commercial &
Lumpsum ₹ 5,000 1.73% Construction Vehicles 0.82%
SIP## Please refer page 72 Limited Products
Finance 0.14%
Cement & Cement
Additional Purchase ₹ 1,000 Birla Corporation Limited 1.60%
Products Reverse Repos/TREPS 1.25%
Entry load: “NA” Polycab India Limited Industrial Products 1.57%
Net Current Assets -0.16%
Exit load: • If the units redeemed or switched out Thermax Limited Electrical Equipment 1.56%
are upto 10% of the units purchased or switched in Schaeffler India Limited Auto Components 1.53%
(“the limit”) within 1 year from the date of allotment Siemens Limited Electrical Equipment 1.46%
- Nil Hindalco Industries Limited Non - Ferrous Metals 1.40%
Portfolio Classification By Market Segment Class (%)
• If units redeemed or switched out are over and Container Corporation of India
Transport Services 1.31%
above the limit within 1 year from the date of allot- Limited
ment - 1% APL Apollo Tubes Limited Industrial Products 1.21%
1.09%
• If units are redeemed or switched out on or after 1 Kirloskar Pneumatic Co Limited Industrial Products 1.19% 16.24%
year from the date of allotment - Nil AIA Engineering Limited Industrial Products 1.17%
Isgec Heavy Engineering
Quantitative Data2 Limited
Construction 1.05%
Standard Deviation 15.79% Power Mech Projects Limited Construction 0.97% 0.14%
Beta (Slope) 0.89 Honeywell Automation India
Industrial Manufacturing 0.84%
Limited
Sharpe Ratio 3 1.50 Timken India Limited Industrial Products 0.83%
R2 0.74 Mahindra Lifespace Developers
Realty 0.83%
Limited 43.19%
Month End Total Expenses Ratios BEML Limited
Agricultural Commercial &
0.82% 39.34%
(Annualized)4 Construction Vehicles
Ratnamani Metals and Tubes
Regular5 2.15% Industrial Products 0.79% Small Cap Large Cap Mid Cap
Limited
Dixon Technologies (India)
Direct 1.11% Consumer Durables 0.61% Others
Limited Debt
Portfolio Turnover Cement & Cement
0.28 Shree Cement Limited 0.60%
(1 year) Products
Phoenix Mills Limited Realty 0.53%
1
in multiples of Re 1 thereafter. KNR Constructions Limited Construction 0.49%
2
Quantitative Data disclosed are as per monthly returns GMM Pfaudler Limited Industrial Manufacturing 0.47%
(Annualized) for the last 3 years. Voltas Limited Consumer Durables 0.42%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, DLF Limited Realty 0.35%
2023) Indian Hume Pipe Company
4
TER Annualized TER including GST on Investment
Industrial Manufacturing 0.16%
Limited
Management Fees Blue Dart Express Limited Transport Services 0.15%
5
Continuing plans BEML Land Asset Limited Finance 0.14%
6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ Ahluwalia Contracts (India)
CIR/2021/652 dated October 27, 2021, on ‘Guiding Construction 0.11%
Limited
Principles for bringing uniformity in Benchmarks of Mutual
Fund Schemes’ has introduced two-tiered structure for
Bharti Airtel Limited Partly
Telecom Services 0.09%
benchmarking of certain categories of schemes. Accordingly, Paid
the benchmark has been classified as Tier 1 benchmark. Cash Equivalent 1.09%
Furthermore , the same is effective from 01 December 2021 TREPS* 1.25%
Net Current Assets: -0.16%
Total Net Assets as on 30-APRIL-2023 100.00%
*TREPS : Tri-Party Repo; @ Awaited Listing

This product is suitable for investors who are seeking*:

Moderate Moderately
High • To create wealth over long term
Low to
Moderate
High
• Invests in equity and equity related securities, primarily in themes that play an important role in India’s economic
development
Low
Very High *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

17
 HSBC Value Fund
Value Fund - An open ended equity scheme following a value investment strategy
Investment Objective: To generate long-term capital appreciation from a diversified portfolio of predominantly equity and
equity related securities, in the Indian markets with higher focus on undervalued securities. The Scheme could also additionally
invest in Foreign Securities in international markets.

Fund Details Issuer Industry/Rating % to Net Assets Issuer Industry/Rating % to Net Assets
Date of Allotment 08-Jan-10 EQUITY 98.49% Cash Equivalent 1.51%
ICICI Bank Limited Banks 6.94% TREPS* 1.24%
Benchmark Nifty 500 TRI6 Net Current Assets: 0.27%
NTPC Limited Power 4.44%
State Bank of India Banks 4.12% Total Net Assets as on 30-APRIL-2023 100.00%
NAV (as on 30.04.23) *TREPS : Tri-Party Repo
HDFC Bank Limited Banks 3.71%
Growth ₹ 62.2685 Sun Pharmaceutical Industries Pharmaceuticals &
3.69%
Limited Biotechnology
Direct Growth ₹ 68.0456 ITC Limited Diversified FMCG 3.59% Industry Allocation
AUM (as on 30.04.23) ₹ 8087.74 Cr The Federal Bank Limited Banks 3.58%
Infosys Limited IT - Software 3.11%
AAUM (for the month Mahindra and Mahindra Limited Automobiles 2.70%
₹ 7953.90 Cr Banks 26.85%
of Apr) Larsen and Toubro Limited Construction 2.67% IT - Software 7.91%
Jindal Stainless Limited Ferrous Metals 2.62%
Fund Manager & Experience Construction 5.40%
Reliance Industries Limited Petroleum Products 2.59%
Pharmaceuticals & Biotechnology 4.75%
Venugopal Manghat Indian Bank Banks 2.54%
Axis Bank Limited Banks 2.47% Industrial Products 4.63%
Total Experience 28 Years Cement & Cement Cement & Cement Products 4.47%
JK Lakshmi Cement Limited 2.19%
Managing this fund Since Nov 24,2012 Products Power 4.44%
KEC International Limited Electrical Equipment 2.08% Diversified FMCG 3.59%
Vihang Shankar Naik Canara Bank Banks 1.90% Ferrous Metals 3.54%
Bosch Limited Auto Components 1.81%
Total Experience 16 Years Hindustan Aeronautics Limited Aerospace & Defense 1.78%
Automobiles 3.53%

Managing this fund Since Dec 17,2019 Ratnamani Metals and Tubes
Realty 2.78%
Industrial Products 1.69% Petroleum Products 2.59%
Minimum Investment1 Limited
Finolex Cables Limited Industrial Products 1.67% Auto Components 2.50%
Lumpsum ₹ 5,000 Bharti Airtel Limited Telecom - Services 1.66% Electrical Equipment 2.40%
Karur Vysya Bank Limited Banks 1.59% Textiles & Apparels 2.32%
SIP## Please refer page 72 KPR Mill Limited Textiles & Apparels 1.50% Chemicals & Petrochemicals 2.04%
Additional Purchase ₹ 1,000 Coromandel International
Fertilizers & Agrochemicals 1.47% Aerospace & Defense 1.78%
Limited
Entry load: “NA” The Indian Hotels Company
Telecom - Services 1.66%
Leisure Services 1.44% Fertilizers & Agrochemicals 1.53%
Exit load: If the units redeemed or switched out are Limited
Brigade Enterprises Limited Realty 1.44% Leisure Services 1.44%
upto 10% of the units purchased or switched in (‘’the
limit’’) within 1 year from the date of allotment - Nil KNR Constructions Limited Construction 1.41% Personal Products 1.43%
Tech Mahindra Limited IT - Software 1.37% Agricultural Commercial and
If units redeemed or switched out are over and above Construction Vehicles 1.32%
the limit within 1 year from the date of allotment - 1% Oberoi Realty Limited Realty 1.34% Paper Forest & Jute Products 1.25%
If units are redeemed or switched out on or after 1 PNC Infratech Limited Construction 1.32% Beverages 1.25%
year from the date of allotment - Nil Agricultural Commercial &
Escorts Kubota Limited 1.32% Finance 1.07%
Construction Vehicles
Quantitative Data 2
Kirloskar Oil Eng Limited Industrial Products 1.27% Non - Ferrous Metals 0.77%
Entertainment
Standard Deviation 14.90% Varun Beverages Limited Beverages 1.25% 0.61%
Paper Forest & Jute Agricultural Food & other Products 0.41%
Beta (Slope) 0.90 JK Paper Limited
Products
1.25%
Consumer Durables 0.23%
Sharpe Ratio 3
1.35 The Ramco Cements Limited
Cement & Cement
1.19% Reverse Repos/TREPS 1.24%
Products
R2 0.91 Cement & Cement
Net Current Assets 0.27%
Birla Corporation Limited 1.09%
Month End Total Expenses Ratios Products
(Annualized)4 Persistent Systems Limited IT - Software 1.07%
Can Fin Homes Limited Finance 1.07%
Portfolio Classification By Market Segment Class (%)
Regular5 1.80% Dr Reddy's Laboratories Pharmaceuticals &
1.06% 1.51%
Limited Biotechnology
Direct 0.83% 21.32%
Jindal Steel and Power Limited Ferrous Metals 0.92%
Portfolio Turnover Birlasoft Limited IT - Software 0.87%
0.27
(1 year) Godrej Consumer Products
Personal Products 0.85%
Limited
1
in multiples of Re 1 thereafter. Maruti Suzuki India Limited Automobiles 0.83%
2
Quantitative Data disclosed are as per monthly returns Vardhman Textiles Limited Textiles & Apparels 0.82%
(Annualized) for the last 3 years. Sonata Software Limited IT - Software 0.80%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, Hindalco Industries Limited Non - Ferrous Metals 0.77%
2023) Navin Fluorine International Chemicals & Petro-
0.72%
4
TER Annualized TER including GST on Investment Limited chemicals
Management Fees 25.07% 52.10%
Balkrishna Industries Limited Auto Components 0.69%
5
Continuing plans HCL Technologies Limited IT - Software 0.69%
6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ Zee Entertainment Enterprises
CIR/2021/652 dated October 27, 2021, on ‘Guiding Entertainment 0.61% Large Cap Small Cap Mid Cap
Limited
Principles for bringing uniformity in Benchmarks of Mutual Emami Limited Personal Products 0.58%
Fund Schemes’ has introduced two-tiered structure for Debt
benchmarking of certain categories of schemes. Accordingly, Gujarat Narmada Valley Fertil- Chemicals & Petro-
0.50%
the benchmark has been classified as Tier 1 benchmark. izers and Chemicals Limited chemicals
Furthermore , the same is effective from 01 December 2021 Chemicals & Petro-
Deepak Nitrite Limited 0.45%
chemicals
Agricultural Food & other
CCL Products (India) Limited 0.41%
Products
Chemicals & Petro-
Supreme Petrochem Limited 0.37%
chemicals
GE TandD India Limited Electrical Equipment 0.32%
Eureka Forbes Limited Consumer Durables 0.23%
Zuari Agro Chemicals Limited Fertilizers & Agrochemicals 0.06%

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Long term capital appreciation
Low to
Moderate
High
• Investment predominantly in equity and equity-related securities in Indian markets and foreign securities, with higher
focus on undervalued securities
Low
Very High *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

18
 HSBC Business Cycles Fund
Thematic Fund - An open ended equity scheme following business cycles based investing theme.
Investment Objective: To seek to generate long-term capital appreciation from a portfolio of predominantly equity and equity
related securities, including equity derivatives, in the Indian market with focus on riding business cycles through dynamic allocation
between various sectors and stocks at different stages of business cycles in the economy.
The Scheme could also additionally invest in Foreign Securities.
There is no assurance that the objective of the Scheme will be realised and the Scheme does not assure or guarantee any returns.

Fund Details Issuer Industry/Rating % to Net Assets Issuer Industry/Rating % to Net Assets

Date of Allotment 20-Aug-14 EQUITY 97.71% Cash Equivalent 2.29%

HDFC Bank Limited Banks 6.92% TREPS* 2.63%
Benchmark Nifty 500 TRI 6
ICICI Bank Limited Banks 6.89% Net Current Assets: -0.34%
NAV (as on 30.04.23) Reliance Industries Limited Petroleum Products 4.70% Total Net Assets as on 30-APRIL-2023 100.00%
Growth ₹ 25.0366 State Bank of India Banks 4.59% *TREPS : Tri-Party Repo
Direct Growth ₹ 26.8989 Larsen and Toubro Limited Construction 4.58%

AUM (as on 30.04.23) ₹ 566.37 Cr ABB India Limited Electrical Equipment 3.48%
Industry Allocation
Aegis Logistics Limited Gas 3.23%
AAUM (for the month
₹ 553.29 Cr Housing Development Finance
of Apr) Finance 3.19% Banks 25.93%
Corporation Limited
Fund Manager & Experience Construction 14.15%
Ratnamani Metals and Tubes
Industrial Products 2.85% Industrial Products
Ankur Arora Limited 9.28%
Carborundum Universal Limited Industrial Products 2.76% Consumer Durables 4.78%
Total Experience 18 Years
Managing this fund Since Nov 26 2022 Cement & Cement Petroleum Products 4.70%
UltraTech Cement Limited 2.61%
Products
Cement & Cement Products 4.20%
Venugopal Manghat Trent Limited Retailing 2.58%
Finance 4.01%
Total Experience 28 Years Gujarat Fluorochemicals Chemicals & Petro-
2.54% Electrical Equipment 3.48%
Managing this fund Since Aug 20 2014 Limited chemicals
Ahluwalia Contracts (India) Gas 3.23%
Minimum Investment1 Construction 2.50%
Limited Chemicals & Petrochemicals 2.97%
Lumpsum ₹ 5,000 Timken India Limited Industrial Products 2.38% Industrial Manufacturing 2.83%
SIP## Please refer page 72 Canara Bank Banks 2.24% Automobiles 2.59%
Additional Purchase ₹ 1,000 Power Mech Projects Limited Construction 2.10%
Retailing 2.58%
Entry load: “NA” KNR Constructions Limited Construction 2.09%
Auto Components 2.40%
Exit load: • If the units redeemed or switched out GMM Pfaudler Limited Industrial Manufacturing 2.01%
Realty 2.20%
are upto 10% of the units purchased or switched in EIH Limited Leisure Services 2.00%
(“the limit”) within 1 year from the date of allotment Leisure Services 2.00%
Bharat Electronics Limited Aerospace & Defense 1.82%
- Nil Aerospace & Defense 1.82%
• If units redeemed or switched out are over and Kotak Mahindra Bank Limited Banks 1.63%
above the limit within 1 year from the date of allot- Fertilizers & Agrochemicals 1.48%
Mahindra and Mahindra Limited Automobiles 1.59%
ment - 1% Transport Services 1.11%
• If units are redeemed or switched out on or after 1 Cement & Cement
Birla Corporation Limited 1.59%
year from the date of allotment - Nil Products Non - Ferrous Metals 1.11%

Quantitative Data 2 Blue Star Limited Consumer Durables 1.57% Capital Markets 0.86%

Standard Deviation 16.37% HG Infra Engineering Limited Construction 1.56% Reverse Repos/TREPS 2.63%
Beta (Slope) 0.98 IndusInd Bank Limited Banks 1.53% Net Current Assets -0.34%
Sharpe Ratio 3 1.15 Fertilizers & Agrochem-
PI Industries Litmited 1.48%
R2 0.88 icals
Month End Total Expenses Ratios Sundram Fasteners Limited Auto Components 1.45%
(Annualized)4 Kajaria Ceramics Limited Consumer Durables 1.37% Portfolio Classification By Market Segment Class (%)
Regular5 2.46% Titan Company Limited Consumer Durables 1.35%
Direct 1.39% PNC Infratech Limited Construction 1.32% 2.29%
15.28%
Portfolio Turnover Mahindra Lifespace Developers
Realty 1.31%
0.29 Limited
(1 year)
AIA Engineering Limited Industrial Products 1.29%
1
in multiples of Re 1 thereafter. Indian Bank Banks 1.14%
2
Quantitative Data disclosed are as per monthly returns
Hindalco Industries Limited Non - Ferrous Metals 1.11%
(Annualized) for the last 3 years.
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, 2023) VRL Logistics Limited Transport Services 1.11%
4
TER Annualized TER including GST on Investment Management TVS Motor Company Limited Automobiles 1.00%
Fees
30.57% 51.86%
5
Continuing plans Bank of Baroda Banks 0.99%
6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ Motherson Sumi Wiring India
CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles Auto Components 0.95%
Limited
for bringing uniformity in Benchmarks of Mutual Fund Schemes’ Large Cap Small Cap Mid Cap
has introduced two-tiered structure for benchmarking of certain Brigade Enterprises Limited Realty 0.89%
categories of schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore , the same is
Multi Commodity Exchange of
Capital Markets 0.86% Debt
effective from 01 December 2021 India Limited
Indian Hume Pipe Company
Industrial Manufacturing 0.82%
Limited
Cholamandalam Investment
Finance 0.82%
and Finance Company Limited
Voltas Limited Consumer Durables 0.49%
Navin Fluorine International Chemicals & Petro-
0.43%
Limited chemicals

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Long term capital appreciation.
Low to
Moderate
High
• Investment predominantly in equity and equity-related securities, including equity derivatives in Indian markets with focus
on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business
cycles in the economy
Low
Very High
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
RISKOMETER

Investors understand that their principal

Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
will be at Very High risk risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.

19
 HSBC Nifty 50 Index Fund
Index Fund - An open-ended Equity Scheme tracking NIFTY 50 Index.
Investment Objective: The scheme will adopt a passive investment strategy. The scheme will invest in stocks comprising the
Nifty 50 index in the same proportion as in the index with the objective of achieving returns equivalent to the Total Returns Index of
Nifty 50 index by minimizing the performance difference between the benchmark index and the scheme. The Total Returns Index
is an index that reflects the returns on the index from index gain / loss plus dividend payments by the constituent stocks.
There is no assurance that the investment objective of the Scheme will be realized.

Fund Details Issuer Industry/Rating % to Net Assets Issuer Industry/Rating % to Net Assets

Date of Allotment 15-Apr-20 EQUITY 98.22% UPL Limited Fertilizers & Agrochemicals 0.47%
Reliance Industries Limited Petroleum Products 10.14% Bharat Petroleum Corporation
Benchmark Nifty 50 TRI 4
Limited
Petroleum Products 0.42%
HDFC Bank Limited Banks 9.21%
NAV (as on 30.04.23) ICICI Bank Limited Banks 7.93%
Hero MotoCorp Limited Automobiles 0.41%
Cash Equivalent 1.78%
Growth ₹ 20.426 Housing Development Finance
Finance 6.23% TREPS* 1.61%
Corporation Limited
Direct Growth ₹ 20.6651
Infosys Limited IT - Software 5.53% Net Current Assets: 0.17%
AUM (as on 30.04.23) ₹ 176.64 Cr
ITC Limited Diversified FMCG 4.65% Total Net Assets as on 30-APRIL-2023 100.00%
AAUM (for the month
₹ 169.16 Cr Tata Consultancy Services *TREPS : Tri-Party Repo
of Apr) Limited
IT - Software 4.08%

Fund Manager & Experience Larsen and Toubro Limited Construction 3.54%
Praveen Ayathan Kotak Mahindra Bank Limited Banks 3.53% Industry Allocation
Total Experience 28 Years Axis Bank Limited Banks 2.92%
Managing this fund Since Apr 15, 2020 State Bank of India Banks 2.75% Banks 27.27%
Minimum Investment1 Hindustan Unilever Limited Diversified FMCG 2.72% IT - Software 12.50%

Lumpsum ₹ 5,000 Bharti Airtel Limited Telecom - Services 2.43% Petroleum Products 10.56%

Bajaj Finance Limited Finance 2.07% Finance 9.21%

SIP ##
Please refer page 72
Diversified FMCG 7.37%
Asian Paints Limited Consumer Durables 1.62%
Additional Purchase ₹ 1,000 Automobiles 5.42%
Maruti Suzuki India Limited Automobiles 1.41%
Entry load: “NA” Construction 3.54%
HCL Technologies Limited IT - Software 1.39% Pharmaceuticals & Biotechnology 3.17%
Exit load: • If the units redeemed or switched Titan Company Limited Consumer Durables 1.36% Consumer Durables 2.98%
out are upto 10% of the units purchased or
Mahindra and Mahindra Limited Automobiles 1.36% Telecom - Services 2.43%
switched in (“the limit”) within 1 Month from
Power 2.01%
the date of allotment - Nil Sun Pharmaceutical Industries Pharmaceuticals &
1.32% Ferrous Metals 1.93%
• If units redeemed or switched out are over Limited Biotechnology
Cement & Cement Products 1.87%
and above the limit within 1 Month from the UltraTech Cement Limited
Cement & Cement
1.08%
Products Food Products 1.63%
date of allotment - 1%
Insurance 1.29%
• If units are redeemed or switched out on or Tata Steel Limited Ferrous Metals 1.08%
Non - Ferrous Metals 0.79%
after 1 Month from the date of allotment - Nil Tata Motors Limited Automobiles 1.06%
Oil 0.77%
Month End Total Expenses Ratios NTPC Limited Power 1.01% Metals & Minerals Trading 0.65%
(Annualized)2 Power Grid Corporation of Transport Infrastructure 0.64%
Power 1.00%
Regular5 0.45% India Limited Consumable Fuels 0.60%
Nestle India Limited Food Products 0.96% Healthcare Services 0.56%
Direct 0.20%
IndusInd Bank Limited Banks 0.93% Agricultural Food & other Products 0.56%
Portfolio Turnover
0.07 Bajaj Finserv Limited Finance 0.91% Fertilizers & Agrochemicals 0.47%
(1 year) Reverse Repos/TREPS 1.61%
JSW Steel Limited Ferrous Metals 0.85%
Tracking Difference Net Current Assets 0.17%
Tech Mahindra Limited IT - Software 0.79%
Regular -1.02%
Hindalco Industries Limited Non - Ferrous Metals 0.79%
Direct -0.53%
Cement & Cement
Grasim Industries Limited 0.79%
Products
1
in multiples of Re 1 thereafter. Portfolio Classification By Market Segment Class (%)
Oil and Natural Gas Corpora-
2
TER Annualized TER including GST on Investment Oil 0.77%
tion Limited
Management Fees 1.78%
3
Continuing plans Dr Reddy's Laboratories Pharmaceuticals &
0.74%
Limited Biotechnology
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/
CIR/2021/652 dated October 27, 2021, on ‘Guiding Wipro Limited IT - Software 0.71%
Principles for bringing uniformity in Benchmarks of Britannia Industries Limited Food Products 0.67%
Mutual Fund Schemes’ has introduced two-tiered
structure for benchmarking of certain categories Adani Enterprises Limited Metals & Minerals Trading 0.65%
of schemes. Accordingly, the benchmark has been HDFC Life Insurance Company
Insurance 0.65%
classified as Tier 1 benchmark. Furthermore , the Limited
same is effective from 01 December 2021
Adani Ports and Special
Transport Infrastructure 0.64%
Economic Zone Limited
SBI Life Insurance Company
Insurance 0.64%
Limited
98.22%
Bajaj Auto Limited Automobiles 0.62%
Coal India Limited Consumable Fuels 0.60%
Large Cap Debt
Pharmaceuticals &
Cipla Limited 0.59%
Biotechnology
Apollo Hospitals Enterprise
Healthcare Services 0.56%
Limited
Tata Consumer Products Agricultural Food & other
0.56%
Limited Products
Eicher Motors Limited Automobiles 0.56%
Pharmaceuticals &
Divi's Laboratories Limited 0.52%
Biotechnology

Moderate Moderately This product is suitable for investors who are seeking*:
High
Low to High
• Long term capital appreciation
Moderate
• Investment in equity securities covered by the NIFTY 50

Low
Very High
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

20
 HSBC Nifty Next 50 Index Fund
Index Fund - An open-ended Equity Scheme tracking Nifty Next 50 Index
Investment Objective: The scheme will adopt a passive investment strategy. The scheme will invest in stocks comprising the Nifty Next 50 index in
the same proportion as in the index with the objective of achieving returns equivalent to the Total Returns Index of Nifty Next 50 index by minimizing the
performance difference between the benchmark index and the scheme. The Total Returns Index is an index that reflects the returns on the index from
index gain/ loss plus dividend payments by the constituent stocks.
There is no assurance that the investment objective of the Scheme will be realized.

Fund Details Issuer Industry/Rating % to Net Assets Issuer Industry/Rating % to Net Assets
EQUITY 100.05% Adani Gas Limited Gas 0.96%
Date of Allotment 15-Apr-20
LTIMindtree Limited IT - Software 3.69% FSN ECommerce Ventures
Benchmark Nifty Next 50 TRI 4
Limited
Retailing 0.62%
Bharat Electronics Limited Aerospace & Defense 3.37%
NAV (as on 30.04.23) Chemicals & Petro- Procter and Gamble Hygiene
Personal Products 0.48%
SRF Limited 3.36% and Health Care Limited
chemicals
Growth ₹ 16.9943
Chemicals & Petro- Life Insurance Corporation of
Insurance 0.38%
Direct Growth ₹ 17.2283 Pidilite Industries Limited
chemicals
3.36% India Limited
AUM (as on 30.04.23) ₹ 61.34 Cr Bank of Baroda Banks 3.18% Adani Wilmar Limited
Agricultural Food & other
0.24%
Products
AAUM (for the month Cholamandalam Investment
₹ 59.43 Cr Finance 3.13% Cash Equivalent -0.05%
of Apr) and Finance Company Limited
Godrej Consumer Products TREPS* 0.17%
Fund Manager & Experience Personal Products 3.13%
Limited Net Current Assets: -0.22%
Praveen Ayathan
Cement & Cement Total Net Assets as on 30-APRIL-2023 100.00%
Shree Cement Limited 2.96%
Total Experience 28 Years Products
*TREPS : Tri-Party Repo
Managing this fund Since Apr 15, 2020 Dabur India Limited Personal Products 2.84%
Minimum Investment1 Vedanta Limited Diversified Metals 2.84%
Lumpsum ₹ 5,000 Havells India Limited Consumer Durables 2.81% Industry Allocation
SIP## Please refer page 72 Siemens Limited Electrical Equipment 2.80%
Indian Oil Corporation Limited Petroleum Products 2.72% Personal Products 8.39%
Additional Purchase ₹ 1,000 Finance 7.30%
Tata Power Company Limited Power 2.69%
Entry load: “NA” Cement & Cement Products 6.91%
Info Edge (India) Limited Retailing 2.66% Chemicals & Petrochemicals 6.72%
Exit load: • If the units redeemed or switched out
Cement & Cement Retailing 6.11%
are upto 10% of the units purchased or switched in Ambuja Cements Limited 2.65%
(“the limit”) within 1 Month from the date of allotment Products Aerospace & Defense 5.59%
- Nil Gail India Limited Gas 2.63% Banks 5.12%
• If units redeemed or switched out are over and Power 4.71%
ICICI Lombard General Insur-
above the limit within 1 Month from the date of allot- Insurance 2.51% Electrical Equipment 4.45%
ance Company Limited
ment - 1% Insurance 4.43%
• If units are redeemed or switched out on or after 1 Fertilizers & Agrochem- Consumer Durables 4.11%
PI Industries Litmited 2.48%
Month from the date of allotment - Nil icals
IT - Software 3.69%
Month End Total Expenses Ratios DLF Limited Realty 2.40% Gas 3.59%
(Annualized)2 Agricultural Food & other Beverages 3.31%
Marico Limited 2.34% Auto Components
Products 2.87%
Regular5 0.80% Diversified Metals 2.84%
Hindustan Aeronautics Limited Aerospace & Defense 2.22%
Direct 0.35% Petroleum Products 2.72%
Page Industries Limited Textiles & Apparels 2.21% Agricultural Food & other Products 2.58%
Portfolio Turnover
0.53 SBI Cards and Payment Fertilizers & Agrochemicals 2.48%
(1 year) Services Private Limited
Finance 2.06%
Realty 2.40%
Tracking Difference United Spirits Limited Beverages 2.06% Textiles & Apparels 2.21%
Transport Services 1.99%
Regular -1.33% InterGlobe Aviation Limited Transport Services 1.99%
Leisure Services 1.71%
Direct -0.79% Canara Bank Banks 1.94% Pharmaceuticals & Biotechnology 1.37%
Colgate Palmolive (India) Capital Markets 1.27%
1
in multiples of Re 1 thereafter. Personal Products 1.94%
Limited Telecom - Services 1.18%
2
TER Annualized TER including GST on Investment Avenue Supermarts Limited Retailing 1.85% Reverse Repos/TREPS 0.17%
Management Fees Net Current Assets -0.22%
Indian Railway Catering and
3
Continuing plans Leisure Services 1.71%
Tourism Corporation Limited
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/
ABB India Limited Electrical Equipment 1.65%
CIR/2021/652 dated October 27, 2021, on ‘Guiding
Principles for bringing uniformity in Benchmarks of ICICI Prudential Life Insurance
Insurance 1.54%
Mutual Fund Schemes’ has introduced two-tiered Company Limited
structure for benchmarking of certain categories Bosch Limited Auto Components 1.51%
of schemes. Accordingly, the benchmark has been Portfolio Classification By Market Segment Class (%)
classified as Tier 1 benchmark. Furthermore , the Torrent Pharmaceuticals Pharmaceuticals &
1.37%
same is effective from 01 December 2021 Limited Biotechnology
Samvardhana Motherson 7.94%
Auto Components 1.36%
International Limited
Cement & Cement
ACC Limited 1.30%
Products
Berger Paints India Limited Consumer Durables 1.30%
-0.05%
HDFC Asset Management
Capital Markets 1.27%
Company Limited
Varun Beverages Limited Beverages 1.25%
Indus Towers Limited Telecom - Services 1.18%
Bajaj Holdings and Investments 92.11%
Finance 1.10%
Limited
Adani Transmission Limited Power 1.02%
Muthoot Finance Limited Finance 1.01% Large Cap Mid Cap Debt
Adani Green Energy Limited Power 1.00%
Zomato Limited Retailing 0.98%

Moderate Moderately
This product is suitable for investors who are seeking*:
Low to
High
• Long term capital appreciation
High
Moderate
• Investment in equity securities covered by the NIFTY NEXT 50

Low
Very High
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

21
 HSBC ELSS Fund
ELSS Fund - An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit
Investment Objective: To generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related
securities. There is no assurance that the objective of the Scheme will be realised and the Scheme does not assure or guarantee
any returns. For defensive considerations and/or managing liquidity, the Scheme may also invest in money market instruments.

Fund Details Issuer Industry/Rating % to Net Assets Industry Allocation

EQUITY 98.13%
Date of Allotment 27-Feb-06 HDFC Bank Limited Banks 9.39% Banks 21.31%
Benchmark Nifty 500 TRI6 ICICI Bank Limited Banks 6.05% IT - Software 11.40%
Reliance Industries Limited Petroleum Products 5.59%
Electrical Equipment 6.28%
NAV (as on 30.04.23) Larsen and Toubro Limited Construction 4.44%
The Indian Hotels Company Petroleum Products 5.59%
Growth ₹ 80.4984 Leisure Services 4.02%
Limited Automobiles 5.49%
Cement & Cement Construction
Direct Growth ₹ 86.2214 UltraTech Cement Limited 3.41% 4.44%
Products Finance 4.15%
AUM (as on 30.04.23) ₹ 3053.84 Cr Hindustan Unilever Limited Diversified FMCG 3.37%
Leisure Services 4.02%
KPIT Technologies Limited IT - Software 3.18%
AAUM (for the month Pharmaceuticals & Biotechnology 3.99%
₹ 3002.08 Cr Cholamandalam Investment
of Apr) and Finance Company Limited
Finance 3.18%
Auto Components 3.71%
Fund Manager & Experience Persistent Systems Limited IT - Software 3.15% Chemicals & Petrochemicals 3.44%
Infosys Limited IT - Software 3.03% Cement & Cement Products 3.41%
Cheenu Gupta Sun Pharmaceutical Industries Pharmaceuticals &
2.85% Personal Products 3.39%
Limited Biotechnology
Total Experience 17 Years Britannia Industries Limited Food Products 2.52% Diversified FMCG 3.37%
Managing this fund Since Jul 02, 2021 CG Power and Industrial Aerospace & Defense 2.97%
Electrical Equipment 2.51%
Solutions Limited Consumer Durables 2.89%
Gautam Bhupal Mahindra and Mahindra Limited Automobiles 2.17% Food Products 2.52%
Bharat Electronics Limited Aerospace & Defense 2.05%
Total Experience 18 Years Power 1.91%
IndusInd Bank Limited Banks 1.98%
Managing this fund Since Nov 26, 2022 NTPC Limited Power 1.91% Retailing 1.76%
Minimum Investment1 Siemens Limited Electrical Equipment 1.90% Capital Markets 1.06%
LTIMindtree Limited IT - Software 1.82% Industrial Products 0.70%
Lumpsum ₹ 500 Navin Fluorine International Chemicals & Petro- Agricultural, Commercial &
1.77% Construction Vehicles 0.33%
SIP ##
Please refer page 72 Limited chemicals
Reverse Repos/TREPS 2.11%
Shoppers Stop Limited Retailing 1.76%
Additional Purchase ₹ 500 TVS Motor Company Limited Automobiles 1.67% Net Current Assets -0.24%
Chemicals & Petro-
Entry load: “NA” SRF Limited 1.67%
chemicals
Exit load: Nil Eicher Motors Limited Automobiles 1.65%
State Bank of India Banks 1.40%
Quantitative Data2 Godrej Consumer Products
Personal Products 1.39%
Standard Deviation 14.18% Limited
Bank of Baroda Banks 1.36% Portfolio Classification By Market Segment Class (%)
Beta (Slope) 0.85 Titan Company Limited Consumer Durables 1.28%
Sharpe Ratio 3
0.96 Colgate Palmolive (India)
Personal Products 1.24%
Limited 4.89%
R2 0.89 Pharmaceuticals &
Cipla Limited 1.14%
Biotechnology 23.30%
Month End Total Expenses Ratios
ABB India Limited Electrical Equipment 1.08%
(Annualized)4 HDFC Asset Management
Capital Markets 1.06%
Regular5 1.95% Company Limited
1.87%
Minda Industries Limited Auto Components 1.06%
Direct 1.14% Blue Star Limited Consumer Durables 1.00%
Portfolio Turnover Housing Development Finance
0.66 Finance 0.97%
Corporation Limited
(1 year)
Schaeffler India Limited Auto Components 0.96%
1
in multiples of Re 1 thereafter. 69.94%
Motherson Sumi Wiring India
Auto Components 0.94%
2
Quantitative Data disclosed are as per monthly Limited
returns Hindustan Aeronautics Limited Aerospace & Defense 0.92%
(Annualized) for the last 3 years. Thermax Limited Electrical Equipment 0.79% Large Cap Mid Cap Small Cap
Dabur India Limited Personal Products 0.76%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr Debt
Varroc Engineering Limited Auto Components 0.74%
28, 2023)
RHI Magnesita India Limited Industrial Products 0.70%
4
TER Annualized TER including GST on Investment Karur Vysya Bank Limited Banks 0.69%
Management Fees Kansai Nerolac Paints Limited Consumer Durables 0.61%
5
Continuing plans Axis Bank Limited Banks 0.44%
6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ Agricultural Commercial &
Escorts Kubota Limited 0.33%
CIR/2021/652 dated October 27, 2021, on ‘Guiding Construction Vehicles
Principles for bringing uniformity in Benchmarks of Tata Consultancy Services
IT - Software 0.22%
Mutual Fund Schemes’ has introduced two-tiered Limited
structure for benchmarking of certain categories Sona BLW Precision Forgings
Auto Components 0.01%
of schemes. Accordingly, the benchmark has been Limited
classified as Tier 1 benchmark. Furthermore , the Kotak Mahindra Bank Limited Banks 0.00%
same is effective from 01 December 2021 Cash Equivalent 1.87%
TREPS* 2.11%
Net Current Assets: -0.24%
Total Net Assets as on 30-APRIL-2023 100.00%
*TREPS : Tri-Party Repo

Moderate Moderately
This product is suitable for investors who are seeking*:
Low to
High
• Long term capital growth
High
Moderate
• Investment predominantly in equity and equity-related securities

Low
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Very High

RISKOMETER Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

22
 HSBC Tax Saver Equity Fund
An Open Ended Equity Linked Savings Scheme with a statutory lock - in of 3 years and tax benefit.
Investment Objective: Aims to provide long term capital appreciation by investing in a diversified portfolio of equity & equity
related instruments of companies across various sectors and industries, with no capitalisation bias. The Fund may also invest
in fixed income securities. However, there can be no assurance or guarantee that the investment objective of the scheme would
be achieved.

Fund Details Issuer Industry/Rating % to Net Assets Issuer Industry/Rating % to Net Assets

Date of Allotment 05-Jan-07 EQUITY 98.02% Cash Equivalent 1.98%

HDFC Bank Limited Banks 9.78% TREPS* 2.29%
Benchmark Nifty 500 TRI 6
ICICI Bank Limited Banks 9.72% Net Current Assets: -0.31%
NAV (as on 30.04.23) Infosys Limited IT - Software 6.70% Total Net Assets as on 30-APRIL-2023 100.00%
Growth ₹ 55.4762 Axis Bank Limited Banks 5.08%
*TREPS : Tri-Party Repo
Direct Growth ₹ 61.0468 State Bank of India Banks 4.96%
Larsen and Toubro Limited Construction 4.41%
AUM (as on 30.04.23) ₹ 179.44 Cr
Reliance Industries Limited Petroleum Products 4.26%
AAUM (for the month Industry Allocation
₹ 176.96 Cr Sun Pharmaceutical Pharmaceuticals &
of Apr) 3.05%
Industries Limited Biotechnology
Fund Manager & Experience Banks 29.54%
DLF Limited Realty 2.97%
IT - Software 10.93%
Gautam Bhupal KEI Industries Limited Industrial Products 2.85%
Consumer Durables 7.31%
Total Experience 18 Years Hindustan Unilever Limited Diversified FMCG 2.52% Pharmaceuticals & Biotechnology 6.30%
Managing this fund Since July 23, 2019 SBI Life Insurance Compa-
Insurance 2.45% Construction 5.59%
Cheenu Gupta ny Limited
Realty 4.90%
Tata Consultancy Services
Total Experience 17 Years IT - Software 2.45% Petroleum Products 4.26%
Limited
Managing this fund Since Nov 26, 2022 Industrial Products 3.94%
Titan Company Limited Consumer Durables 2.25%
Minimum Investment1 Automobiles 3.40%
Phoenix Mills Limited Realty 1.93%
Lumpsum ₹ 500 Auto Components 3.21%
TVS Motor Company
Automobiles 1.89% Diversified FMCG 2.52%
SIP## Please refer page 72 Limited
Insurance 2.45%
Additional Purchase ₹ 500 PVR Limited Entertainment 1.83%
Chemicals & Petrochemicals 1.99%
Rategain Travel Technolo-
Entry load: “NA” IT - Software 1.78% Entertainment 1.83%
gies Limited
Exit load: Nil Capital Markets 1.75%
Prudent Corporate Adviso-
Capital Markets 1.75% Healthcare Services 1.68%
Quantitative Data2 ry Services Limited
Beverages 1.48%
Standard Deviation 15.60% Rainbow Children's
Healthcare Services 1.68% Fertilizers & Agrochemicals 1.26%
Medicare Limited
Beta (Slope) 0.98 Transport Services 1.11%
JB Chemicals and Phar- Pharmaceuticals &
Sharpe Ratio3 0.90 1.66% Finance 1.05%
maceuticals Limited Biotechnology
R2 0.96 Motherson Sumi Wiring Personal Products 1.01%
Auto Components 1.61% Electrical Equipment 0.51%
Month End Total Expenses Ratios India Limited
Sona BLW Precision Reverse Repos/TREPS 2.29%
(Annualized)4 Auto Components 1.60%
Forgings Limited Net Current Assets -0.31%
Regular 5
2.48%
Pharmaceuticals &
Direct 1.31% Lupin Limited 1.59%
Biotechnology
Portfolio Turnover Amber Enterprises India
0.3 Consumer Durables 1.56%
(1 year) Limited Portfolio Classification By Market Segment Class (%)
1
in multiples of Re 1 thereafter. Maruti Suzuki India Limited Automobiles 1.51% 1.98%
United Breweries Limited Beverages 1.48% 14.80%
2
Quantitative Data disclosed are as per
monthly returns Dixon Technologies (India)
Consumer Durables 1.46%
(Annualized) for the last 3 years. Limited
16.37%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as Chemicals & Petro-
SRF Limited 1.42%
on Apr 28, 2023) chemicals
4
TER Annualized TER including GST on Fertilizers & Agro-
PI Industries Litmited 1.26%
Investment Management Fees chemicals
5
Continuing plans PNC Infratech Limited Construction 1.18%
Container Corporation of
As a result of the acquisition, HSBC AMC will have two Transport Services 1.11% 66.85%
equity linked savings scheme (“elss”) in the form of
India Limited
HSBC Tax Saver Equity Fund (an open ended elss with Kajaria Ceramics Limited Consumer Durables 1.10%
a statutory lock in period of 3 years and tax benefit), APL Apollo Tubes Limited Industrial Products 1.09%
and L&T Tax Advantage Fund (to be renamed as HSBC Large Cap Mid Cap Small Cap
ELSS Fund). As per elss guidelines, a mutual fund can Housing Development
have only one open-ended elss scheme. In view of the Finance Corporation Finance 1.05% Debt
said restriction, we propose to stop the subscription into Limited
HSBC Tax Saver Equity Fund from close of business Godrej Consumer Prod-
hours on November 25, 2022. Hence, no sip, stp-in, Personal Products 1.01%
ucts Limited
or switch into the fund will be permitted from close of
business hours on November 25, 2022. For the sake of Voltas Limited Consumer Durables 0.94%
clarity, we wish to inform you that the unitholders will be Gujarat Fluorochemicals Chemicals & Petro-
allowed to hold their existing investments in this fund, 0.57%
Limited chemicals
except that no further investments / subscription would
be accepted in this fund. However, unitholders will be KEC International Limited Electrical Equipment 0.51%
permitted to redeem / switch out their units post the
mandatory lock-in period. 6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles for bringing uniformity in
Benchmarks of Mutual Fund Schemes’ has introduced two-tiered structure for benchmarking of certain categories of schemes. Accordingly, the
benchmark has been changed to NIFTY 500 TRI Index which has been classified as Tier 1 benchmark. Furthermore , the same is effective from
01 December 2021

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Long term capital growth
Low to
Moderate
High
• Investment predominantly in equity and equity related securities
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low
Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

23
 HSBC Aggressive Hybrid Fund
Aggressive Hybrid fund – An open ended hybrid scheme investing predominantly in equity and equity related
instruments.
Investment Objective: To seek long term capital growth and income through investments in equity and equity
related securities and fixed income instruments. However, there is no assurance that the investment objective of
the Scheme will be achieved.

% to % to
Fund Details Issuer Industry/ Rating Issuer Industry/ Rating
Net Assets Net Assets
EQUITY 78.36% Cash Equivalent 1.51%
Date of Allotment 07-Feb-11 HDFC Bank Limited Banks 7.18% TREPS* 1.91%
ICICI Bank Limited BANKS 4.55% Net Current Assets: -0.40%
Benchmark: NIFTY 50 Hybrid Composite Reliance Industries Limited PETROLEUM PRODUCTS 4.06% Total Net Assets as on 30-APRIL-2023 100.00%
Larsen and Toubro Limited Construction 3.83%
Debt 65:35 Index6 The Indian Hotels Company Limited Leisure Services 3.48%
*TREPS : Tri-Party Repo
Hindustan Unilever Limited Diversified FMCG 2.84%
NAV (as on 30.04.23) KPIT Technologies Limited IT - Software 2.67%
Pharmaceuticals &
Growth ₹ 37.0612 Sun Pharmaceutical Industries Limited
Biotechnology
2.38%
UltraTech Cement Limited Cement & Cement Products 2.33% Industry Allocation
Direct Growth ₹ 41.1476 Infosys Limited IT - Software 2.23%
Persistent Systems Limited IT - Software 2.10% Government Securities
AUM (as on 30.04.23) ₹ 4668.21 Cr Cholamandalam Investment and Finance
16.51%
Finance 2.09% Banks 16.49%
Company Limited
AAUM (for the month
₹ 4614.95 Cr Britannia Industries Limited Food Products 1.94% IT - Software 8.65%
of Apr) Godrej Consumer Products Limited Personal Products 1.77%
Finance 5.25%
NTPC Limited Power 1.73%
Fund Manager & Experience Siemens Limited Electrical Equipment 1.71% Leisure Services 4.83%
LTIMindtree Limited IT - Software 1.65% Electrical Equipment 4.56%
Cheenu Gupta (For Equity) IndusInd Bank Limited Banks 1.63%
Bharat Electronics Limited Aerospace & Defense 1.53% Petroleum Products 4.06%
Total Experience 17 Years CG Power and Industrial Solutions Limited Electrical Equipment 1.53% Construction 3.83%
Managing this fund Since July 02, 2021 Mahindra and Mahindra Limited Automobiles 1.44% Automobiles 3.33%
Westlife Development Limited Leisure Services 1.35%
Shriram Ramanathan (For Fixed Income) VRL Logistics Limited Transport Services 1.30% Pharmaceuticals & Biotechnology 3.00%
GMM Pfaudler Limited Industrial Manufacturing 1.14% Cement & Cement Products 2.85%
Total Experience 22 Years TVS Motor Company Limited Automobiles 1.12%
Diversified FMCG 2.84%
Managing this fund Since May 30, 2016 Schaeffler India Limited Auto Components 1.11%
Auto Components
Shoppers Stop Limited RETAILING 1.11% 2.83%
Minimum Investment1 Hindustan Aeronautics Limited Aerospace & Defense 1.06% Power 2.80%
SRF Limited Chemicals & Petrochemicals 1.01%
Personal Products 2.78%
Lumpsum ₹ 5,000 Dabur India Limited Personal Products 1.01%
Karur Vysya Bank Limited Banks 1.00% Aerospace & Defense 2.59%
SIP## Please refer page 72 Canara Bank Banks 0.98% Food Products 1.94%
Varroc Engineering Limited Auto Components 0.92%
Additional Purchase ₹ 1,000 RHI Magnesita India Limited Industrial Products 0.88% Chemicals & Petrochemicals 1.86%
Navin Fluorine International Limited Chemicals & Petrochemicals 0.85% Consumer Durables 1.65%
Entry load: “NA” ABB India Limited Electrical Equipment 0.83%
Transport Services 1.30%
Minda Industries Limited Auto Components 0.80%
Exit load: Any redemption / switch-out of units with- HDFC Asset Management Company Capital Markets 1.16%
Capital Markets 0.77%
in 1 year from the date of allotment shall be subject to Limited Industrial Manufacturing 1.14%
exit load as under: Eicher Motors Limited Automobiles 0.77%
Retailing 1.11%
Mayur Uniquoters Limited Consumer Durables 0.69%
a. For 10% of the units redeemed / switched-out: Nil State Bank of India Banks 0.62% Industrial Products 0.88%
Pharmaceuticals & Fertilizers & Agrochemicals
b. For remaining units redeemed or switched-out: Cipla Limited 0.62% 0.25%
Biotechnology
1.00% Housing Development Finance Corporation Reverse Repos/TREPS 1.91%
Finance 0.61%
No Exit Load will be charged, if Units are redeemed Limited Net Current Assets -0.40%
Kansai Nerolac Paints Limited Consumer Durables 0.57%
/ switchedout after 1 year from the date of allotment. Bank of Baroda Banks 0.53%
Quantitative Data2 Shree Cement Limited Cement & Cement Products 0.52%
TD Power Systems Limited Electrical Equipment 0.49% Portfolio Classification By Market Segment Class (%)
Standard Deviation 11.05% Prudent Corporate Advisory Services
Capital Markets 0.39%
Limited
Beta (Slope) 0.98 Titan Company Limited Consumer Durables 0.39% 9.27%
PI Industries Litmited Fertilizers & Agrochemicals 0.25%
Sharpe Ratio3 0.79 Government Securities 16.51% 15.98%
R2 0.86 7.38% GOI 20JUN2027 SOVEREIGN 4.46%
7.26% GOI 22AUG2032 SOVEREIGN 2.19%
Month End Total Expenses Ratios 5.22% GOVERNMENT OF INDIA 15JUN25
SOVEREIGN 2.11%
G-SEC
(Annualized)4 5.15% GOVERNMENT OF INDIA 09NOV25
SOVEREIGN 2.11%
Regular5 1.89% G-SEC
6.18% GOI 04NOV2024 SOVEREIGN 1.75%
Direct 0.85% 07.32% GS 28JAN2024 SOVEREIGN 1.09%
7.27% GOI 08APR26 SOVEREIGN 1.09%
Portfolio Turnover 5.79% GOVERNMENT OF INDIA 11MAY30
0.75 G-SEC
SOVEREIGN 0.51%
21.64% 53.11%
(1 year) GOI 07.17% 08JAN28 SOVEREIGN 0.37%
6.70% TAMIL NADU 16OCT24 SDL SOVEREIGN 0.32%
07.26% GS 2029 SOVEREIGN 0.22%
1
in multiples of Re 1 thereafter. 7.76% MAHARASHTRA 04Oct2030 SDL SOVEREIGN 0.11% Large Cap Debt Mid Cap Small Cap
2
Quantitative Data disclosed are as per monthly returns 5.60% MAHARASHTRA 09SEP2024 SDL SOVEREIGN 0.11%
5.63% GOI 12APR2026 SOVEREIGN 0.04%
(Annualized) for the last 3 years.
5.74% GOI 15NOV2026 SOVEREIGN 0.02%
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr GOI 07.68% 15DEC2023 SOVEREIGN 0.01% Rating Profile
28, 2023) Corporate/ PSU Debt
TER Annualized TER including GST on Investment
4
Corporate Bonds / Debentures 2.81% Net Current Assets - 0.40%
Management Fees
Jamnagar Utilities and Power Pvt Limited
5
Continuing plans ( Mukesh Ambani Group)
CRISIL AAA 1.07% Reverse Repos/ TREPS 1.91%
National Bank for Agriculture & Rural
6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ ICRA AAA / CRISIL AAA 0.99%
Development AAA and equivalents 3.62%
CIR/2021/652 dated October 27, 2021, on ‘Guiding Bajaj Finance Limited CRISIL AAA 0.75%
Principles for bringing uniformity in Benchmarks of Money Market Instruments SOVEREIGN 16.51%
Mutual Fund Schemes’ has introduced two-tiered Certificate of Deposit 0.21%
Export Import Bank of India CRISIL AAA 0.21%
structure for benchmarking of certain categories
Commercial Paper 0.60%
of schemes. Accordingly, the benchmark has been
changed to CRISIL Hybrid 35+65 Aggressive Index Housing Development Finance Corporation
CRISIL A1+ 0.20%
Limited
which has been classified as Tier 1 benchmark.
Kotak Mahindra Prime Limited CRISIL A1+ 0.20%
Furthermore , the same is effective from 01 December Tata Capital Financial Services Limited CRISIL A1+ 0.20%
2021

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Long term wealth creation and income
Low to
Moderate
High
• Invests in equity and equity related securities and fixed Income instruments
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low
Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Very High risk

24
 HSBC Arbitrage Fund
Arbitrage Fund - An open ended scheme investing in arbitrage opportunities
Investment Objective: The investment objective of the Scheme is to seek to generate reasonable returns by predominantly
investing in arbitrage opportunities in the cash and derivatives segments of the equity markets and by investing balance in debt
and money market instruments. There is no assurance that the objective of the Scheme will be realised and the Scheme does
not assure or guarantee any returns.

% to Net % to Net % to Net % to Net

Fund Details Issuer Industries
% to Net
Asset Asset Issuer Industries
% to Net
Asset Asset
Asset Asset
(Hedge) (Unhedge) (Hedge) (Unhedge)
Date of Allotment 30-Jun-14 EQUITY
Power Finance Corporation Limited Finance
71.14%
4.59%
71.14%
4.59%
0.00%
0.00% Marico Limited
Agricultural Food &
other Products
0.04% 0.04% 0.00%
Tata Power Company Limited Power 3.53% 3.53% 0.00% Exide Industries Limited Auto Components 0.04% 0.04% 0.00%
Nifty 50 Arbitrage Reliance Industries Limited Petroleum Products 3.36% 3.36% 0.00%
Benchmark IDFC Limited Finance 3.15% 3.15% 0.00%
Tata Communications Limited Telecom - Services 0.03% 0.03% 0.00%
Index HDFC Bank Limited Banks 2.71% 2.71% 0.00%
Power Grid Corporation of India Limited
National Aluminium Company Limited
Power
Non - Ferrous Metals
0.03%
0.02%
0.03%
0.02%
0.00%
0.00%
ICICI Bank Limited Banks 2.30% 2.30% 0.00% Page Industries Limited Textiles & Apparels 0.02% 0.02% 0.00%
NAV (as on 30.04.23) Bharat Electronics Limited
HCL Technologies Limited
Aerospace & Defense
IT - Software
2.02%
1.90%
2.02%
1.90%
0.00%
0.00%
MphasiS Limited IT - Software
Chemicals &
0.02% 0.02% 0.00%
Cement & Cement Tata Chemicals Limited 0.02% 0.02% 0.00%
Ambuja Cements Limited 1.89% 1.89% 0.00% Petrochemicals
Growth ₹ 16.3479 Products Indian Railway Catering and Tourism
Leisure Services 0.02% 0.02% 0.00%
Zee Entertainment Enterprises Limited Entertainment 1.79% 1.79% 0.00% Corporation Limited
Direct Growth ₹ 17.2489 Punjab National Bank Limited
Bandhan Bank Limited
Banks
Banks
1.77%
1.75%
1.77%
1.75%
0.00%
0.00% Dr Reddy's Laboratories Limited
Pharmaceuticals &
0.02% 0.02% 0.00%
Bajaj Finserv Limited Finance 1.74% 1.74% 0.00% Biotechnology
AUM (as on 30.04.23) ₹ 1918.19 Cr ICICI Prudential Life Insurance
Insurance 1.68% 1.68% 0.00% Abbott India Limited
Pharmaceuticals &
0.02% 0.02% 0.00%
Company Limited Biotechnology
AAUM (for the month Pharmaceuticals & Maruti Suzuki India Limited Automobiles 0.02% 0.02% 0.00%
₹ 1950.44 Cr Biocon Limited
Biotechnology
1.47% 1.47% 0.00% Adani Ports and Special Economic
Transport Infrastructure 0.02% 0.02% 0.00%
of Apr) REC Limited Finance 1.44% 1.44% 0.00% Zone Limited
Kotak Mahindra Bank Limited Banks 1.42% 1.42% 0.00% Cement & Cement
Grasim Industries Limited 0.02% 0.02% 0.00%
Fund Manager & Experience LandT Finance Holdings Limited
Bharat Petroleum Corporation Limited
Finance
Petroleum Products
1.40%
1.38%
1.40%
1.38%
0.00%
0.00% Hindustan Aeronautics Limited
Products
Aerospace & Defense 0.01% 0.01% 0.00%
Pharmaceuticals & Dabur India Limited Personal Products 0.01% 0.01% 0.00%
Praveen Ayathan (For Equity) Sun Pharmaceutical Industries Limited
Biotechnology
1.32% 1.32% 0.00% Apollo Tyres Limited Auto Components 0.01% 0.01% 0.00%
Hindustan Unilever Limited Diversified FMCG 1.28% 1.28% 0.00% InterGlobe Aviation Limited Transport Services 0.01% 0.01% 0.00%
Total Experience 28 Years Oberoi Realty Limited Realty 1.24% 1.24% 0.00% Zydus Lifesciences Limited
Pharmaceuticals &
0.00% 0.00% 0.00%
Mahindra and Mahindra Limited Automobiles 1.22% 1.22% 0.00% Biotechnology
Managing this fund Since Jun 30, 2014 Indian Energy Exchange Limited Capital Markets 1.06% 1.06% 0.00% Godrej Consumer Products Limited Personal Products 0.00% 0.00% 0.00%
LIC Housing Finance Limited Finance 1.05% 1.05% 0.00% Hero MotoCorp Limited Automobiles 0.00% 0.00% 0.00%
Ritesh Jain (For Fixed Income) City Union Bank Limited
Mahindra and Mahindra Financial
Banks 1.02% 1.02% 0.00% Sun TV Network Limited
Havells India Limited
Entertainment
Consumer Durables
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Finance 1.00% 1.00% 0.00%
Total Experience 23 Years Services Limited
Bosch Limited Auto Components 0.92% 0.92% 0.00%
Eicher Motors Limited Automobiles 0.00% 0.00% 0.00%
Voltas Limited Consumer Durables 0.00% 0.00% 0.00%
Managing this fund Since Nov 26, 2022 Container Corporation of India Limited
Gail India Limited
Transport Services
Gas
0.88%
0.77%
0.88%
0.77%
0.00%
0.00%
Government Securities 2.69%
Pharmaceuticals & GOI 07.16% 20MAY23 SOVEREIGN 2.69%
Minimum Investment1 Torrent Pharmaceuticals Limited
Biotechnology
0.75% 0.75% 0.00% Treasury Bills 14.17%
Gujarat Narmada Valley Fertilizers and Chemicals & 182 DAYS T-BILL 11MAY23 SOVEREIGN 2.60%
Lumpsum ₹ 5,000 Chemicals Limited Petrochemicals
0.75% 0.75% 0.00% 364 DAYS T-BILL 08JUN23 SOVEREIGN 2.59%
Indian Oil Corporation Limited Petroleum Products 0.72% 0.72% 0.00% 364 DAYS T-BILL 29JUN23 SOVEREIGN 2.58%
364 DAYS T-BILL 01JUN23 SOVEREIGN 1.30%
SIP## Please refer page 72 Infosys Limited IT - Software
Pharmaceuticals &
0.71% 0.71% 0.00%
182 DAYS T-BILL 22JUN23 SOVEREIGN 1.29%
Cipla Limited 0.68% 0.68% 0.00% 364 DAYS T-BILL 22JUN23 SOVEREIGN 1.29%
Additional Purchase ₹ 1,000 Aditya Birla Capital Limited
Biotechnology
Finance 0.65% 0.65% 0.00%
364 DAY TBILL 14SEP23 SOVEREIGN 1.27%
364 DAYS T-BILL 07DEC23 SOVEREIGN 1.25%
Piramal Enterprises Limited Finance 0.58% 0.58% 0.00%
Entry load: “NA” Tata Consumer Products Limited
Agricultural Food &
0.58% 0.58% 0.00%
Money Market Instruments
other Products Certificate of Deposit 3.72%
Exit load: On and before 1 month from the Indiabulls Housing Finance Limited Finance 0.55% 0.55% 0.00% Bank of Baroda IND A1+ 1.25%
Trent Limited Retailing 0.55% 0.55% 0.00% National Bank for Agriculture & Rural
date of allotment or Purchase applying First in Tata Motors Limited Automobiles 0.53% 0.53% 0.00% Development
CRISIL A1+ 1.24%
Tata Steel Limited Ferrous Metals 0.52% 0.52% 0.00%
First out basis - 0.5% Samvardhana Motherson International
State Bank of India
Mutual Fund Units
IND A1+ 1.23%
5.39%
Auto Components 0.44% 0.44% 0.00%
After 1 month from the date of allotment or Limited
Cement & Cement
HSBC Money Market Fund - Direct
Mutual Fund 5.39%
purchase - Nil The India Cements Limited
Products
0.43% 0.43% 0.00% Growth
Cash Equivalent 2.89%
Axis Bank Limited Banks 0.43% 0.43% 0.00%
Month End Total Expenses Ratios United Spirits Limited Beverages 0.41% 0.41% 0.00% TREPS*
Net Current Assets:
4.58%
-1.69%
Chemicals &
(Annualized)2 SRF Limited
Petrochemicals
0.41% 0.41% 0.00% Total Net Assets as on
100.00%
Steel Authority of India Limited Ferrous Metals 0.39% 0.39% 0.00% 30-APRIL-2023
Regular5 0.96% Godrej Properties Limited Realty 0.38% 0.38% 0.00%
SBI Life Insurance Company Limited Insurance 0.37% 0.37% 0.00% *TREPS : Tri-Party Repo
NMDC Limited Minerals & Mining 0.36% 0.36% 0.00%
Direct 0.28% Hindustan Copper Limited Non - Ferrous Metals 0.34% 0.34% 0.00%
Canara Bank Banks 0.30% 0.30% 0.00%
Portfolio Turnover Bharti Airtel Limited Telecom - Services 0.30% 0.30% 0.00%
Industry Allocation
3.03 Pharmaceuticals &
(1 year) Granules India Limited
Biotechnology
0.29% 0.29% 0.00%
RBL Bank Limited Banks 0.29% 0.29% 0.00%
NTPC Limited Power 0.29% 0.29% 0.00%
1
in multiples of Re 1 thereafter. Tata Consultancy Services Limited IT - Software 0.28% 0.28% 0.00%
Finance 17.71%
Fertilizers & Government Securities 16.86%
2
TER Annualized TER including GST on PI Industries Litmited
Agrochemicals
0.27% 0.27% 0.00%
Banks 14.47%
Cement & Cement
Investment Management Fees Dalmia Bharat Limited
Products
0.24% 0.24% 0.00% Petroleum Products 5.58%
Balkrishna Industries Limited Auto Components 0.20% 0.20% 0.00% Mutual Fund 5.39%
3
Continuing plans Bharat Heavy Electricals Limited Electrical Equipment 0.19% 0.19% 0.00%
Pharmaceuticals & Biotechnology 4.91%
Aditya Birla Fashion and Retail Limited Retailing 0.19% 0.19% 0.00%
Pharmaceuticals & Power 3.85%
Laurus Labs Limited 0.19% 0.19% 0.00%
Biotechnology
Mahanagar Gas Limited Gas 0.18% 0.18% 0.00% IT - Software 3.02%
Portfolio Classification By Market Bajaj Finance Limited Finance 0.18% 0.18% 0.00% Cement & Cement Products 2.66%
Chambal Fertilizers and Chemicals Fertilizers &
Segment Class (%) Limited Agrochemicals
0.17% 0.17% 0.00% Insurance 2.28%
Agricultural Commercial Aerospace & Defense 2.03%
Ashok Leyland Limited 0.16% 0.16% 0.00%
8.89% Max Financial Services Limited
& Construction Vehicles
Insurance 0.15% 0.15% 0.00%
Entertainment 1.79%
Chemicals & Automobiles 1.77%
23.55% Rain Industries Limited 0.15% 0.15% 0.00%
38.70% The Indian Hotels Company Limited
Petrochemicals
Leisure Services 0.14% 0.14% 0.00%
Realty 1.67%
Chemicals & Auto Components 1.61%
Pidilite Industries Limited 0.13% 0.13% 0.00%
Petrochemicals Chemicals & Petrochemicals 1.52%
Crompton Greaves Consumer
Consumer Durables 0.13% 0.13% 0.00% Diversified FMCG 1.28%
Electricals Limited
Pharmaceuticals & Gas 1.10%
Alkem Laboratories Limited 0.12% 0.12% 0.00%
Biotechnology Capital Markets
Fertilizers & 1.06%
Coromandel International Limited 0.12% 0.12% 0.00% Ferrous Metals 0.95%
Agrochemicals
Hindustan Petroleum Corporation Transport Services 0.89%
Petroleum Products 0.12% 0.12% 0.00%
Limited
Metropolis Healthcare Limited Healthcare Services 0.11% 0.11% 0.00% Retailing 0.74%
28.86% Gujarat Gas Limited Gas 0.10% 0.10% 0.00% Fertilizers & Agrochemicals 0.63%
Delta Corp Limited Leisure Services 0.09% 0.09% 0.00%
Manappuram Finance Limited Finance 0.09% 0.09% 0.00% Agricultural Food & other Products 0.62%
ICICI Lombard General Insurance Beverages 0.45%
Insurance 0.08% 0.08% 0.00%
Company Limited
Large Cap Debt Mid Cap Bata India Limited Consumer Durables 0.08% 0.08% 0.00% Non - Ferrous Metals 0.36%
Cement & Cement Minerals & Mining 0.36%
UltraTech Cement Limited 0.08% 0.08% 0.00%
Products
Small Cap ABB India Limited Electrical Equipment 0.07% 0.07% 0.00% Telecom - Services 0.33%
Fertilizers & Electrical Equipment 0.31%
UPL Limited 0.07% 0.07% 0.00%
Agrochemicals
Birlasoft Limited IT - Software 0.06% 0.06% 0.00% Leisure Services 0.25%
Chemicals & Consumer Durables 0.21%
Aarti Industries Limited 0.06% 0.06% 0.00%
Petrochemicals Agricultural Commercial &
Moderate Moderately Can Fin Homes Limited Finance 0.05% 0.05% 0.00% Construction Vehicles 0.16%
High Petronet LNG Limited Gas 0.05% 0.05% 0.00% Healthcare Services 0.11%
Low to High DLF Limited Realty 0.05% 0.05% 0.00%
Moderate Intellect Design Arena Limited IT - Software 0.05% 0.05% 0.00% Food Products 0.09%
Nestle India Limited Food Products 0.05% 0.05% 0.00% Industrial Products 0.04%
Siemens Limited Electrical Equipment 0.05% 0.05% 0.00%
Pharmaceuticals & Transport Infrastructure 0.02%
IPCA Laboratories Limited 0.05% 0.05% 0.00%
Very High
Biotechnology Textiles & Apparels 0.02%
Low Jindal Steel and Power Limited Ferrous Metals 0.04% 0.04% 0.00%
United Breweries Limited Beverages 0.04% 0.04% 0.00% Personal Products 0.01%
RISKOMETER Astral Limited Industrial Products 0.04% 0.04% 0.00% Reverse Repos/TREPS 4.58%
Britannia Industries Limited Food Products 0.04% 0.04% 0.00%
Investors understand that their principal Net Current Assets -1.69%
will be at Low risk
Please note that the above risk-o-meter is as per the product This product is suitable for investors who are seeking*:
labelling of the scheme available as on the date of this
communication/ disclosure. Any change in risk-o-meter shall be • Generation of reasonable returns over short to medium
communicated by way of Notice cum Addendum and by way of an term
e-mail or SMS to unitholders of that particular Scheme.
• Investment predominantly in arbitrage opportunities in the
cash and derivatives segments of the equity markets; and
debt and money market instrument.
*Investors should consult their financial advisers if in doubt about
whether the product is suitable for them.
25
 HSBC Balanced Advantage Fund
Balanced Advantage Fund - An open ended dynamic asset allocation fund
Investment Objective: To seek long term capital growth and income through investments in equity and equity relat-
ed securities and fixed income instruments. There is no assurance that the objective of the Scheme will be realised
and the Scheme does not assure or guarantee any returns.

% to Net % to Net % to Net % to Net

Fund Details Issuer Industries
% to Net
Assets Assets Issuer Industries
% to Net
Assets Assets
Assets Assets
(Hedged) (Unhedged) (Hedged) (Unhedged)
Date of Allotment 07-Feb-11 Kirloskar Pneumatic Co Limited Industrial Products 0.20% 0.00% 0.20%
EQUITY 66.86% 13.43% 53.43%
Nifty 50 Hybrid Government Securities 11.03%
DLF Limited Realty 4.32% 4.32% 0.00% 5.15% GOVERNMENT OF INDIA
Benchmark composite debt Petroleum SOVEREIGN 4.98%
Reliance Industries Limited 3.67% 0.00% 3.67% 09NOV25 G-SEC
50:50 Index Products 5.22% GOVERNMENT OF
ICICI Bank Limited Banks 3.40% 0.00% 3.40% SOVEREIGN 4.33%
INDIA 15JUN25 G-SEC
NAV (as on 30.04.23) HDFC Bank Limited Banks 2.85% 0.00% 2.85%
6.18% GOI 04NOV2024 SOVEREIGN 1.72%
Infosys Limited IT - Software 2.53% 0.00% 2.53%
Growth ₹ 32.2539 ITC Limited Diversified FMCG 1.87% 0.00% 1.87% Corporate/ PSU Debt
Corporate Bonds /
Direct Growth ₹ 36.2799 Sun Pharmaceutical Industries Pharmaceuticals
1.87% 0.93% 0.94% 12.22%
Limited & Biotechnology Debentures
AUM (as on 30.04.23) ₹ 1482.62 Cr Varun Beverages Limited Beverages 1.75% 0.00% 1.75% National Bank for Agriculture &
CRISIL AAA 3.40%
Tata Consultancy Services Rural Development
AAUM (for the month IT - Software 1.68% 0.00% 1.68% Housing Development Finance
₹ 1486.09 Cr Limited CRISIL AAA 2.04%
of Apr) Axis Bank Limited Banks 1.65% 0.69% 0.96% Corporation Limited
NTPC Limited Power 1.62% 0.00% 1.62% Power Finance Corporation
Fund Manager & Experience Limited
CRISIL AAA 1.72%
RHI Magnesita India Limited Industrial Products 1.55% 0.00% 1.55%
Neelotpal Sahai (For Equity) Oil and Natural Gas LIC Housing Finance Limited CRISIL AAA 1.71%
Oil 1.50% 0.00% 1.50% CRISIL AAA /
Corporation Limited Rec Limited 3.35%
Total Experience 29 Years CRISIL Limited Finance 1.46% 0.00% 1.46% CARE AAA
Managing this fund Since Nov 26,2022 Housing Development Finance Money Market Instruments
Finance 1.38% 0.00% 1.38%
Corporation Limited
Ritesh Jain (For Fixed Income) State Bank of India Banks 1.27% 0.00% 1.27% Certificate of Deposit 1.90%
Total Experience 23 Years Ambuja Cements Limited
Cement & Cement
1.27% 1.27% 0.00% HDFC Bank Limited CARE A1+ 1.90%
Products
Managing this fund Since Nov 26,2022 Bajaj Holdings and Investments Cash Equivalent 7.99%
Finance 1.26% 0.00% 1.26%
Minimum Investment1 Limited TREPS* 8.40%
Hindustan Unilever Limited Diversified FMCG 1.24% 0.00% 1.24%
Lumpsum ₹ 5,000 Pharmaceuticals Net Current Assets: -0.41%
Aurobindo Pharma Limited 1.22% 1.22% 0.00%
& Biotechnology
SIP## Please refer page 72 United Spirits Limited Beverages 1.22% 1.22% 0.00%
Total Net Assets as on
100.00%
30-APRIL-2023
Additional Purchase ₹ 1,000 Sona BLW Precision Forgings
Auto Components 1.20% 0.00% 1.20%
Limited *TREPS : Tri-Party Repo
Entry load: “NA” Larsen and Toubro Limited Construction 1.20% 0.00% 1.20%
Zee Entertainment Enterprises
Exit load: If the units redeemed or switched Entertainment 1.15% 1.15% 0.00%
out are upto 10% of the units purchased or
Limited
Industry Allocation
Bharti Airtel Limited Telecom - Services 1.08% 0.00% 1.08%
switched in (“the limit”) within 1 year from the APL Apollo Tubes Limited Industrial Products 1.06% 0.00% 1.06%
Banks 16.85%
date of allotment - Nil Indian Bank Banks 1.00% 0.00% 1.00%
Finance 14.04%
If units redeemed or switched out are over and Tata Power Company Limited Power 0.96% 0.96% 0.00%
Government Securities 11.03%
above the limit within 1 year from the date of Pharmaceuticals
Cipla Limited 0.92% 0.00% 0.92% Pharmaceuticals & Biotechnology 8.07%
& Biotechnology
allotment - 1% HG Infra Engineering Limited Construction 0.89% 0.00% 0.89% Realty 4.95%
If units are redeemed or switched out on or Cement & Cement IT - Software 4.77%
Shree Cement Limited 0.82% 0.00% 0.82%
after 1 year from the date of allotment. - Nil Products Petroleum Products 3.91%
Zydus Wellness Limited Food Products 0.79% 0.00% 0.79% Diversified FMCG 3.11%
Month End Total Expenses Ratios IDFC Limited Finance 0.77% 0.77% 0.00% Beverages 2.97%
(Annualized)2 Kotak Mahindra Bank Limited Banks 0.77% 0.00% 0.77% Industrial Products 2.81%
Pharmaceuticals Power 2.58%
Regular5 2.11% Abbott India Limited 0.75% 0.00% 0.75% Construction 2.09%
& Biotechnology
Direct 0.77% Pharmaceuticals Cement & Cement Products 2.09%
Alkem Laboratories Limited 0.71% 0.00% 0.71% Auto Components 1.56%
& Biotechnology
Portfolio Turnover Blue Dart Express Limited Transport Services 0.68% 0.00% 0.68% Oil 1.50%
0.49
(1 year) Paper Forest & Jute Entertainment 1.15%
West Coast Paper Mills Limited 0.67% 0.00% 0.67% Automobiles 1.11%
Products
1
in multiples of Re 1 thereafter. Pharmaceuticals Telecom - Services 1.08%
Divi's Laboratories Limited 0.66% 0.00% 0.66%
2
TER Annualized TER including GST on & Biotechnology Food Products 1.04%
Dabur India Limited Personal Products 0.65% 0.00% 0.65% Transport Services 0.68%
Investment Management Fees
Mahindra Lifespace Developers Paper Forest & Jute Products 0.67%
3
Continuing plans Limited
Realty 0.63% 0.00% 0.63%
Personal Products 0.65%
Mahindra and Mahindra Limited Automobiles 0.62% 0.00% 0.62% Electrical Equipment 0.59%
Canara Bank Banks 0.61% 0.00% 0.61% Chemicals & Petrochemicals 0.57%
Dr Reddy's Laboratories Pharmaceuticals Consumer Durables 0.53%
0.60% 0.00% 0.60%
Limited & Biotechnology Leisure Services 0.45%
Electrical Fertilizers & Agrochemicals 0.31%
TD Power Systems Limited 0.59% 0.00% 0.59%
Equipment Capital Markets 0.31%
Gujarat Fluorochemicals Chemicals & Textiles & Apparels 0.28%
0.57% 0.00% 0.57%
Limited Petrochemicals Non - Ferrous Metals 0.26%
Pharmaceuticals Reverse Repos/TREPS 8.40%
Biocon Limited 0.55% 0.00% 0.55%
& Biotechnology Net Current Assets -0.41%
Consumer
Safari Industries India Limited 0.53% 0.00% 0.53%
Durables
Pharmaceuticals
Lupin Limited
& Biotechnology
0.53% 0.00% 0.53% Portfolio Classification By Market
Tata Motors Limited Automobiles 0.49% 0.00% 0.49% Segment Class (%)
Lemon Tree Hotels Limited Leisure Services 0.45% 0.00% 0.45%
Tube Investments of India 7.94%
Auto Components 0.36% 0.00% 0.36% 12.39%
Limited
Bajaj Finance Limited Finance 0.35% 0.35% 0.00%
Fertilizers &
PI Industries Litmited 0.31% 0.31% 0.00%
Agrochemicals
Prudent Corporate Advisory
Capital Markets 0.31% 0.00% 0.31%
Moderate Moderately Services Limited
High Coforge Limited IT - Software 0.28% 0.00% 0.28%
Low to
Moderate
High Vardhman Textiles Limited Textiles & Apparels 0.28% 0.00% 0.28%
Birlasoft Limited IT - Software 0.28% 0.00% 0.28%
Hindalco Industries Limited Non - Ferrous Metals 0.26% 0.00% 0.26% 33.14% 46.53%
Low Pharmaceuticals
Very High Zydus Lifesciences Limited 0.26% 0.00% 0.26%
& Biotechnology
RISKOMETER
Britannia Industries Limited Food Products 0.25% 0.25% 0.00% Large Cap Debt Mid Cap
Bharat Petroleum Corporation
Investors understand that their principal Petroleum Products 0.24% 0.00% 0.24%
Limited Small Cap
will be at Very High risk
Please note that the above risk-o-meter is as per the product This product is suitable for investors who are seeking*:
labelling of the scheme available as on the date of this
communication/ disclosure. Any change in risk-o-meter shall be • Long term capital appreciation and generation of
communicated by way of Notice cum Addendum and by way of an reasonable returns
e-mail or SMS to unitholders of that particular Scheme.
• Investment in equity and equity related instruments,
derivatives and debt and money market instruments.
*Investors should consult their financial advisers if in doubt about
whether the product is suitable for them.
26
 HSBC Equity Savings Fund
Equity Savings Fund - An open ended scheme investing in equity, arbitrage and debt.
Investment Objective: To generate regular income by predominantly investing in arbitrage opportunities in the cash and
derivatives segments of the equity markets and debt and money market instruments and to generate long-term capital
appreciation through unhedged exposure to equity and equity related instruments. There is no assurance that the objective of
the Scheme will be realised and the Scheme does not assure or guarantee any returns.

% to Net % to Net % to Net % to Net

Fund Details Issuer Industries
% to Net
Assets Assets Issuer Industries
% to Net
Assets Assets
Assets Assets
(Hedged) (Unhedged) (Hedged) (Unhedged)
Date of Allotment 18-Oct-11
EQUITY 69.72% 28.46% 41.26% Government Securities 21.46%
NIFTY Equity 5.22% GOVERNMENT OF
Benchmark United Spirits Limited Beverages 6.35% 6.35% 0.00% SOVEREIGN 10.51%
Savings Index Cement & INDIA 15JUN25 G-SEC
Ambuja Cements Limited 3.40% 3.40% 0.00% 6.18% GOI 04NOV2024 SOVEREIGN 7.25%
Cement Products
NAV (as on 30.04.23) Bajaj Finance Limited Finance 3.35% 3.35% 0.00% 7.38% GOI 20JUN2027 SOVEREIGN 3.70%
The Indian Hotels Company Money Market Instruments
Growth ₹ 24.195 Leisure Services 2.99% 0.00% 2.99% Certificate of Deposit 6.67%
Limited HDFC Bank Limited CARE A1+ 6.67%
National Aluminium Non - Ferrous Cash Equivalent 2.15%
Direct Growth ₹ 26.315 Company Limited Metals
2.47% 2.47% 0.00%
TREPS* 2.43%
AUM (as on 30.04.23) ₹ 140.73 Cr ICICI Bank Limited Banks 2.39% 0.00% 2.39% Net Current Assets: -0.28%
Sonata Software Limited IT - Software 2.25% 0.00% 2.25% Total Net Assets as on
Persistent Systems Limited IT - Software 2.21% 0.00% 2.21% 100.00%
AAUM (for the month 30-APRIL-2023
₹ 139.63 Cr Cholamandalam Investment
of Apr) and Finance Company Finance 2.17% 0.00% 2.17% *TREPS : Tri-Party Repo
Fund Manager & Experience Limited
Larsen and Toubro Limited Construction 2.02% 0.00% 2.02%
Cheenu Gupta (For Equity) Consumer
Blue Star Limited 1.89% 0.00% 1.89%
Durables
Total Experience 17 Years Steel Authority of India
Ferrous Metals 1.69% 1.69% 0.00%
Managing this fund Since Jul 02, 2021 Limited
Mahanagar Gas Limited Gas 1.61% 1.61% 0.00%
Ritesh Jain (For Fixed Income) Reliance Industries Limited
Petroleum
1.55% 0.00% 1.55% Industry Allocation
Products
Total Experience 23 Years Electrical
Thermax Limited 1.46% 0.00% 1.46%
Managing this fund Since Nov 26,2022 Equipment Government Securities 21.46%
The Federal Bank Limited Banks 1.44% 0.00% 1.44%
Minimum Investment1 IndusInd Bank Limited Banks 1.44% 1.44% 0.00% Banks 12.96%
Shoppers Stop Limited Retailing 1.41% 0.00% 1.41% Finance 6.42%
Lumpsum ₹ 5,000 Hindustan Unilever Limited
Diversified
1.40% 0.00% 1.40% Beverages 6.35%
FMCG
SIP## Please refer page 72 Hindustan Aeronautics Aerospace & IT - Software 6.24%
1.25% 0.00% 1.25%
Additional Purchase ₹ 1,000 Limited Defense Cement & Cement Products 5.32%
Trent Limited Retailing 1.24% 1.24% 0.00%
Electrical Leisure Services 3.64%
Entry load: “NA” TD Power Systems Limited 1.24% 0.00% 1.24%
Equipment Electrical Equipment 3.56%
Exit load: If the units redeemed or switched VRL Logistics Limited
Transport
1.23% 0.00% 1.23% Consumer Durables
Services 3.35%
out are upto 10% of the units purchased or
Chemicals & Retailing 2.65%
switched in (‘’the limit”) within 1 Month from the SRF Limited
Petrochemicals
1.08% 0.00% 1.08%
Pharmaceuticals & Biotechnology 2.51%
date of allotment - Nil Cement & Cement
JK Cement Limited 1.06% 0.00% 1.06%
If redeemed or switched out units are over and Products Non - Ferrous Metals 2.47%
above the limit i.e beyond 10% of the allotted Mahindra and Mahindra Automobiles 2.43%
Automobiles 1.05% 0.00% 1.05%
Limited
units within 1 month exit load applicable - KPIT Technologies Limited IT - Software 0.98% 0.00% 0.98% Construction 2.02%
0.50% Zee Entertainment
Entertainment 0.96% 0.96% 0.00% Petroleum Products 1.94%
If units are redeemed or switched out on or Enterprises Limited Ferrous Metals 1.69%
HDFC Bank Limited Banks 0.96% 0.00% 0.96%
after 1 Month from the date of Purchase - Nil Consumer Gas 1.61%
Mayur Uniquoters Limited 0.90% 0.00% 0.90%
Month End Total Expenses Ratios Durables Chemicals & Petrochemicals 1.60%
Can Fin Homes Limited Finance 0.90% 0.90% 0.00%
(Annualized)2 Cement & Cement Diversified FMCG 1.40%
UltraTech Cement Limited 0.86% 0.00% 0.86%
Regular5 1.50% Products Capital Markets 1.30%
Electrical
Siemens Limited 0.86% 0.00% 0.86% Aerospace & Defense 1.25%
Direct 0.60% Equipment
Pharmaceuticals Transport Services 1.23%
Portfolio Turnover Cipla Limited 0.84% 0.00% 0.84%
& Biotechnology
0.69 Industrial
Auto Components 1.20%
(1 year) KEI Industries Limited 0.83% 0.00% 0.83%
Products Entertainment 0.96%
Pharmaceuticals Industrial Products 0.83%
1
in multiples of Re 1 thereafter. Laurus Labs Limited
& Biotechnology
0.82% 0.82% 0.00%
Oracle Financial Services Industrial Manufacturing 0.74%
2
TER Annualized TER including GST on IT - Software 0.76% 0.76% 0.00%
Software Limited Power 0.72%
Investment Management Fees Prudent Corporate Advisory
Capital Markets 0.74% 0.00% 0.74% Reverse Repos/TREPS 2.43%
3
Continuing plans Services Limited
Industrial Net Current Assets -0.28%
GMM Pfaudler Limited 0.74% 0.00% 0.74%
Manufacturing
Maruti Suzuki India Limited Automobiles 0.73% 0.73% 0.00%
Tata Power Company
Power 0.72% 0.72% 0.00% Portfolio Classification By Market Segment Class (%)
Limited
Delta Corp Limited Leisure Services 0.65% 0.65% 0.00%
TVS Motor Company Limited Automobiles 0.65% 0.00% 0.65%
Auto Compo-
Minda Industries Limited 0.61% 0.00% 0.61% 17.65%
nents
Auto Compo-
Schaeffler India Limited 0.59% 0.00% 0.59% 34.75%
nents
Consumer
Titan Company Limited 0.56% 0.00% 0.56%
Durables
Multi Commodity Exchange
Capital Markets 0.56% 0.56% 0.00% 17.32%
of India Limited
Navin Fluorine International Chemicals &
0.52% 0.00% 0.52%
Limited Petrochemicals
Sun Pharmaceutical Pharmaceuticals &
0.49% 0.00% 0.49%
Industries Limited Biotechnology
Hindustan Petroleum Petroleum
0.39% 0.39% 0.00% 30.28%
Corporation Limited Products
Pharmaceuticals
Abbott India Limited 0.19% 0.19% 0.00%
& Biotechnology
Glenmark Pharmaceuticals Pharmaceuticals & Large Cap Debt Mid Cap Small Cap
0.17% 0.17% 0.00%
Limited Biotechnology
RBL Bank Limited Banks 0.06% 0.06% 0.00%
Infosys Limited IT - Software 0.04% 0.00% 0.04%

This product is suitable for investors who are seeking*:

Moderate Moderately
High
• Investment in fixed income (debt and money market instruments) as well as equity and equity related securities
Low to High • Capital appreciation over medium to long term
Moderate
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderately High risk

27
 HSBC Global Emerging HSBC Global Equity Climate Change
Markets Fund Fund of Fund
An open-ended fund of fund scheme investing in HSBC Global Investment Funds - Global (An open ended fund of fund scheme investing in HSBC Global Investment Funds – Global
Emerging Markets Equity Fund Equity Climate Change)
Investment Objective: The primary investment objective of the Scheme is to provide Investment Objective: To provide long term capital appreciation by investing predominantly
long term capital appreciation by investing predominantly in units/shares of HSBC Global in units of HSBC Global Investment Funds – Global Equity Climate Change (HGECC). The
Investment Funds - Global Emerging Markets Equity Fund. The Scheme may also invest a Scheme may also invest a certain proportion of its corpus in money market instruments and
certain proportion of its corpus in money market instruments and / or units of liquid mutual /or units of overnight / liquid mutual fund schemes, in order to meet liquidity requirements
fund schemes, in order to meet liquidity requirements from time to time. However, there from time to time. However, there is no assurance that the investment objective of the
can be no assurance or guarantee that the investment objective of the scheme would be Scheme will be achieved.
achieved.
Fund Details Fund Details
Date of Allotment 17-Mar-08 Date of Allotment 22-Mar-21
Benchmark MSCI Emerging Markets Index TRI6 Benchmark MSCI AC World TRI6
NAV (as on 30.04.23) NAV (as on 30.04.23)
Growth ₹ 15.8651 Growth ₹ 9.0546
Direct Growth ₹ 17.0864
Direct Growth ₹ 9.206
AUM (as on 30.04.23) ₹ 18.96 Cr
AUM (as on 30.04.23) ₹ 287.50 Cr
AAUM (for the month of Apr) ₹ 19.28 Cr
AAUM (for the month of Apr) ₹ 293.02 Cr
Fund Manager & Experience
Sonal Gupta Fund Manager & Experience
Total Experience 16 Years Sonal Gupta (For Overseas Investments)
Managing this fund Since December 02, 2022 Total Experience 16 Years
Minimum Investment1 Managing this fund Since December 02, 2022
Lumpsum ₹ 5,000 Kapil Punjabi (For Fixed Income)
SIP## Please refer page 72 Total Experience 16 Years
Additional Purchase ₹ 1,000 Managing this fund Since March 22, 2021
Entry load: “NA” Minimum Investment1
1% if redeemed / switched out within 1 year Lumpsum ₹ 5,000
Exit load: SIP## Please refer page 72
from date of allotment, else nil
Quantitative Data2 Additional Purchase ₹ 1,000
Standard Deviation 17.77% Entry load: “NA”
Beta (Slope) 1.02
Sharpe Ratio 3 -0.06 Exit load: (i) In respect of each purchase / switch-in of units, an Exit Load of 1% is
R2 0.92 payable if Units are redeemed / switched-out within 1 year from the date of allotment.
Month End Total Expenses Ratios (Annualized)4 (ii) No Exit Load will be charged, if units are redeemed / switched-out after 1 year from
Regular5 2.40% the date of allotment.
Direct 1.71% The exit loads set forth above is subject to change at the discretion of the AMC and
such changes shall be implemented prospectively.
Industry Allocation Month End Total Expenses Ratios (Annualized)4
Regular5 2.12%
OVERSEAS MUTUAL FUND 97.98% Direct 1.33%

Reverse Repos/TREPS 2.28% Industry Allocation

Net Current Assets -0.26%

OVERSEAS MUTUAL FUND 96.78%
Reverse Repos/TREPS 2.17%
Issuer Industry/Rating % to Net Assets Net Current Assets 1.05%
Mutual Fund Units 97.98%
HSBC GIF GLOB EMERG MKTS EQ S1 OVERSEAS MUTUAL FUND 97.98%
DIS
Issuer Industry/Rating % to Net Assets
Cash Equivalent 2.02%
Mutual Fund Units 96.78%
TREPS* 2.28%
HSBC GIF GL EQ CLM CHG JCUSD OVERSEAS MUTUAL FUND 96.78%
Net Current Assets: -0.26%
Cash Equivalent 3.22%
Total Net Assets as on 30-APRIL-2023 100.00% TREPS* 2.17%
*TREPS : Tri-Party Repo Net Current Assets: 1.05%
1
in multiples of Re 1 thereafter. Total Net Assets as on 30-APRIL-2023 100.00%
2
Quantitative Data disclosed are as per monthly returns (Annualized) for the last 3 years. *TREPS : Tri-Party Repo
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, 2023)
4
TER Annualized TER including GST on Investment Management Fees and additional charges by underlying fund
5
Continuing plans
1
in multiples of Re 1 thereafter.
4
TER Annualized TER including GST on Investment Management Fees and additional charges by underlying fund
5
Continuing plans

This product is suitable for investors who are seeking*: This product is suitable for investors who are seeking*:

• To create wealth over long term Moderate Moderately

• To create wealth over long term Moderate Moderately
High High
• Investment predominantly in units of HSBC Global Low to High
• Investment predominantly in companies positioned Low to High
Investment Funds - Global Emerging Markets Equity Moderate
to benefit from climate change through fund of funds Moderate

Fund route

*Investors should consult their financial advisers if Low Very High

*Investors should consult their financial advisers if Low Very High

in doubt about whether the product is suitable for RISKOMETER in doubt about whether the product is suitable for RISKOMETER
them. Investors understand that their principal them. Investors understand that their principal
will be at Very High risk will be at Very High risk

Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or
SMS to unitholders of that particular Scheme.
6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles for bringing uniformity in Benchmarks of Mutual Fund Schemes’ has introduced two-tiered structure for benchmarking of certain categories of
schemes. Accordingly, the benchmark has been classified as Tier 1 benchmark. Furthermore , the same is effective from 01 December 2021

28
 HSBC Asia Pacific (Ex Japan) Dividend
Yield Fund HSBC Brazil Fund
An open ended fund of fund scheme investing in HSBC Global Investments Fund - Asia An open ended fund of fund scheme investing in HSBC Global Investments Fund - Brazil
Pacific Ex Japan Equity High Dividend Fund Equity Fund
Investment Objective: To provide long term capital appreciation by investing predominantly Investment Objective: The primary investment objective of the Scheme is to provide
in units of HSBC Global Investment Funds (HGIF) Asia Pacific Ex Japan Equity High long term capital appreciation by investing predominantly in units/shares of HSBC Global
Dividend Fund (HEHDF). The Scheme may also invest a certain proportion of its corpus Investment Funds (HGIF) Brazil Equity Fund. The Scheme may, at the discretion of the
in money market instruments and / or units of liquid mutual fund schemes, in order to meet Investment Manager, also invest in the units of other similar overseas mutual fund schemes,
liquidity requirements from time to time. However, there can be no assurance or guarantee which may constitute a significant part of its corpus. The Scheme may also invest a certain
that the investment objective of the scheme would be achieved. proportion of its corpus in money market instruments and/or units of liquid mutual fund
schemes, in order to meet liquidity requirements from time to time. However, there can be
Fund Details no assurance or guarantee that the investment objective of the scheme would be achieved.
Date of Allotment 24-Feb-14 Fund Details
Benchmark MSCI AC Asia Pacific ex Japan TRI6
Date of Allotment 06-May-11
NAV (as on 30.04.23) Benchmark MSCI Brazil 10/40 Index TRI6
Growth ₹ 17.7866
NAV (as on 30.04.23)
Direct Growth ₹ 19.0162
Growth ₹ 6.171
AUM (as on 30.04.23) ₹ 8.47 Cr
Direct Growth ₹ 6.6633
AAUM (for the month of Apr) ₹ 8.49 Cr
AUM (as on 30.04.23) ₹ 33.34 Cr
Fund Manager & Experience
AAUM (for the month of Apr) ₹ 33.56 Cr
Sonal Gupta
Fund Manager & Experience
Total Experience 16 Years
Sonal Gupta
Managing this fund Since December 02, 2022
Minimum Investment1 Total Experience 16 Years
Managing this fund Since December 02, 2022
Lumpsum ₹ 5,000
Minimum Investment1
SIP## Please refer page 72
Lumpsum ₹ 5,000
Additional Purchase ₹ 1,000
SIP## Please refer page 72
Entry load: “NA”
Additional Purchase ₹ 1,000
Exit load: (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. Entry load: “NA”
(ii) No Exit Load will be charged, if units are redeemed / switched-out after 1 year from the date of Exit load: i) In respect of each purchase / switch-in of Units, an Exit Load of 1% is
allotment. payable if Units are redeemed / switched-out within 1 year from the date of allotment.
Quantitative Data 2
ii) No Exit Load will be charged, if Units are redeemed / switched-out after 1 year from
Standard Deviation 16.64% the date of allotment.
Beta (Slope) 0.86 Quantitative Data2
Sharpe Ratio 3 0.11 Standard Deviation 32.40%
R2 0.84 Beta (Slope) 0.95
Month End Total Expenses Ratios (Annualized)4 Sharpe Ratio 3 0.06
Regular5 2.04% R2 0.97
Direct 1.29% Month End Total Expenses Ratios (Annualized)4
Regular5 2.42%
Industry Allocation
Direct 1.69%
Industry Allocation
OVERSEAS MUTUAL FUND 96.64%
Reverse Repos/TREPS 3.90% OVERSEAS MUTUAL FUND 96.71%
Net Current Assets -0.54% Reverse Repos/TREPS 3.91%
Net Current Assets - 0.62%

Issuer Sector % to Net Assets

Mutual Fund Units 96.64% Issuer Industry/Rating % to Net Assets
HSBC GIFAsia Pacific Fund OVERSEAS MUTUAL FUND 96.64% Mutual Fund Units 96.71%
Cash Equivalent 3.36% HSBC GIF BRAZIL EQUITY S3D OVERSEAS MUTUAL FUND 96.71%
TREPS* 3.90% Cash Equivalent 3.29%
Net Current Assets: -0.54% TREPS* 3.91%
Total Net Assets as on 30-APRIL-2023 100.00% Net Current Assets: -0.62%
*TREPS : Tri-Party Repo
Total Net Assets as on 30-APRIL-2023 100.00%
*TREPS : Tri-Party Repo
1
in multiples of Re 1 thereafter.
2
Quantitative Data disclosed are as per monthly returns (Annualized) for the last 3 years.
1
in multiples of Re 1 thereafter.
2
Quantitative Data disclosed are as per monthly returns (Annualized) for the last 3 years.
3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, 2023) 3
Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, 2023)
4
TER Annualized TER including GST on Investment Management Fees and additional charges by underlying fund 4
TER Annualized TER including GST on Investment Management Fees and additional charges by underlying fund
5
Continuing plans 5
Continuing plans
This product is suitable for investors who are seeking*: This product is suitable for investors who are seeking*:

• To create wealth over long term Moderate Moderately

• To create wealth over long term
High

• Investment in equity and equity related securities Low to High

• Invests in equity and equity related securities Moderate Moderately
High

of Asia Pacific countries (excluding Japan)

Moderate
through feeder route in Brazilian markets Low to High
Moderate
through fund of funds route *Investors should consult their financial advisers if
*Investors should consult their financial advisers
Low Very High
in doubt about whether the product is suitable for
if in doubt about whether the product is suitable RISKOMETER them. Low Very High

for them. Investors understand that their principal RISKOMETER

will be at Very High risk Investors understand that their principal

will be at Very High risk

Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or
SMS to unitholders of that particular Scheme.
6
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles for bringing uniformity in Benchmarks of Mutual Fund Schemes’ has introduced two-tiered structure for benchmarking of certain categories of
schemes. Accordingly, the benchmark has been classified as Tier 1 benchmark. Furthermore , the same is effective from 01 December 2021

29
HSBC Managed Solutions HSBC Managed Solutions HSBC Managed Solutions
India - Growth India - Moderate India - Conservative
(An open ended fund of fund scheme investing in a basket of (An open ended fund of fund scheme investing in a basket of (An open ended fund of fund scheme investing in a basket of
equity, debt, Gold and other ExchangeTraded Funds) equity, debt, Gold and other Exchange Traded Funds) equity, debt, Gold and other Exchange Traded Funds)
Investment Objective: The objective of the Plan is to provide Investment Objective: The objective of the fund is to Investment Objective: The objective of the Plan is to provide
long term total return primarily by seeking capital appreciation provide long term total return aimed at capital appreciation long term total return aimed at providing income through an
through an active asset allocation with diversification and providing income through an active asset allocation active asset allocation with diversification commensurate
commensurate with the risk profile of investments by with diversification commensurate with the risk profile of with the risk profile of investments by investing in a basket of
investing in a basket of debt, equity, gold exchange traded investments by investing in a basket of debt, equity, gold debt, equity, gold ETFs and other ETFs and money market
funds (ETFs) and other ETFs, units of offshore mutual funds ETFs and other ETFs, units of offshore mutual funds and instruments.
and money market instruments. money market instruments.

Fund Details Fund Details Fund Details

Date of Allotment 30-Apr-14 Date of Allotment 30-Apr-14 Date of Allotment 30-Apr-14
Benchmark: Composite Index constituting 80% of Benchmark: Composite Index constituting 10% of
Benchmark: CRISIL Hybrid 35+65 - Aggressive Fund
S&P BSE 200 TRI Index and 20% of CRISIL Composite S&P BSE 200 Index TRI and 90% of CRISIL Composite
Index5
Bond Index5 Bond Index5
NAV (as on 30.04.23) NAV (as on 30.04.23) NAV (as on 30.04.23)
Growth ₹ 27.4695 Growth ₹ 25.129 Growth ₹ 18.1476
Direct Growth ₹ 28.2739 Direct Growth ₹ 26.0938 Direct Growth ₹ 18.9375
AUM (as on 30.04.23) ₹ 35.80 Cr AUM (as on 30.04.23) ₹ 58.10 Cr AUM (as on 30.04.23) ₹ 34.60 Cr
AAUM (for the month of Apr) ₹ 35.35 Cr AAUM (for the month of Apr) ₹ 57.58 Cr AAUM (for the month of Apr) ₹ 34.60 Cr

Fund Manager: Gautam Bhupal (Total Experience -18 Yrs.) Managing this fund since October 21, 2015

Minimum Investment: Lumpsum ₹ 5,000, Additional Purchase ₹ 1,000/- in multiples of Re 1 thereafter; SIP##: Please refer page 72

Entry load - NA, Exit load - 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 allot-
ment. No Exit Load will be charged, if Units are redeemed / switched-out after 1 year from the date of allotment.

Quantitative Data1 Quantitative Data1 Quantitative Data1

Standard Deviation 12.24% Standard Deviation 10.21% Standard Deviation 4.39%
Beta (Slope) 0.86 Beta (Slope) 0.95 Beta (Slope) 0.67
Sharpe Ratio 2 1.03 Sharpe Ratio 2 0.93 Sharpe Ratio 2 -0.36
R2 0.94 R2 0.93 R2 0.39
Month End Total Expenses Ratios (Annualized)3 Month End Total Expenses Ratios (Annualized)3 Month End Total Expenses Ratios (Annualized)3
Regular4 1.97% Regular4 1.80% Regular4 1.31%
Direct 1.05% Direct 0.76% Direct 0.54%
Industry Allocation Industry Allocation Industry Allocation
Mutual Fund 99.55% Mutual Fund 99.88%
Mutual Fund 99.93%
Reverse Repos/TREPS 0.81% Reverse Repos/TREPS 0.49%
Reverse Repos/TREPS 0.31%
Net Current Assets - 0.36% Net Current Assets - 0.37%
Net Current Assets - 0.24%

Issuer % to Net Assets Issuer % to Net Assets

Issuer % to Net Assets
Mutual Fund Units 99.55% Mutual Fund Units 99.88%
Mutual Fund Units 99.93%
HSBC Large Cap Eqty Fund- Direct Growth 59.87% HSBC Large Cap Eqty Fund- Direct Growth 48.82%
HSBC Short Duration Fund - Direct Growth 44.83%
HSBC Small Cap Fund - Direct Growth 20.27% HSBC Short Duration Fund - Direct Growth 17.21%
HSBC Dynamic Bond Fund - Direct Growth 26.07%
HSBC Short Duration Fund - Direct Growth 9.69% HSBC Small Cap Fund - Direct Growth 16.61%
HSBC Medium To Long Duration Fund - Direct
HSBC Medium To Long Duration Fund - Direct HSBC Medium To Long Duration Fund - Direct 18.93%
5.72% 9.64% Growth
Growth Growth
HSBC Large Cap Eqty Fund- Direct Growth 10.10%
HSBC Dynamic Bond Fund - Direct Growth 4.00% HSBC Dynamic Bond Fund - Direct Growth 7.60%
Cash Equivalent 0.07%
Cash Equivalent 0.45% Cash Equivalent 0.12%
TREPS* 0.31%
TREPS* 0.81% TREPS* 0.49%
Net Current Assets: -0.24%
Net Current Assets: -0.36% Net Current Assets: -0.37%
Total Net Assets as on 30-APRIL-2023 100.00%
Total Net Assets as on 30-APRIL-2023 100.00% Total Net Assets as on 30-APRIL-2023 100.00%
*TREPS : Tri-Party Repo
*TREPS : Tri-Party Repo *TREPS : Tri-Party Repo

This product is suitable for investors whoare seeking*: This product is suitable for investors whoare seeking*: This product is suitable for investors whoare seeking*:
• To create wealth over long term
• To create wealth and provide income over the long term • To provide income over the long-term
• Investing predominantly in units of equity mutual funds as
• Investments in a basket of debt mutual funds, equity • Investing predominantly in units of debt mutual funds as
well as in a basket of debt mutual funds, gold & exchange
mutual funds, gold & exchange traded funds, offshore well as in a basket of equity mutual funds, gold & other
traded funds, offshore mutual funds and money market
mutual funds and money market instruments. exchange traded funds and money market instruments.
instruments

Moderate Moderately
Moderate Moderately Moderate Moderately
High
High High
Low to High
Moderate Low to High Low to
Moderate High
Moderate

Low Very High

Low Very High Very High
Low

RISKOMETER
RISKOMETER RISKOMETER
Investors understand that their principal Investors understand that their principal Investors understand that their principal
will be at Very High risk will be at High risk will be at Moderate risk

Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail
or SMS to unitholders of that particular Scheme.
1
Quantitative Data: disclosed are as per monthly returns (Annualized) for the last 3 years. 2Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, 2023). 3TER Annualized TER including GST on Investment Management Fees and additional charges by
underlying fund. 4Continuing plans. 5SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/CIR/2021/652 dated October 27, 2021, on ‘Guiding Principles for bringing uniformity in Benchmarks of Mutual Fund Schemes’ has introduced two-tiered structure for
benchmarking of certain categories of schemes. Accordingly, the benchmark has been classified as Tier 1 benchmark. Furthermore , the same is effective from 01 December 2021
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

30
 Equity Fund Snapshot as on 30th April, 2023

HSBC Large and Mid

Scheme Name HSBC Large Cap Fund HSBC Mid cap Fund HSBC Small Cap Fund HSBC Flexi Cap Fund HSBC Focused Fund
Cap Fund
Category Large Cap Fund Large & Mid Cap Fund Mid Cap Fund Small Cap Fund Flexi Cap Fund Focused Fund

Date of Allotment 10-Dec-02 28-Mar-19 09-Aug-04 12-May-14 24-Feb-04 22-Jul-20

Benchmark Nifty 100 TRI NIFTY Large Midcap 250 TRI NIFTY Midcap 150 TRI NIFTY Small Cap 250 TRI Nifty 500 TRI Nifty 500 TRI

Neelotpal Sahai Cheenu Gupta Vihang Shankar Naik Venugopal Manghat Vihang Shankar Naik Neelotpal Sahai
Fund Manager
Ankur Arora Neelotpal Sahai Cheenu Gupta Vihang Shankar Naik Venugopal Manghat Ankur Arora

NAV (Regular Option) 320.5059 15.9075 207.8907 49.7065 132.3965 16.1749

Monthly AUM (` in cr.) 1,444.30 2,042.70 7,048.05 9,163.42 3,216.71 1,359.92

Value of ` 100,000
invested in scheme since 33,84,240 1,56,480 20,65,030 4,66,980 16,13,180 1,52,500
inception
Market Cap 1.43% 0.96%
1.12% 0.14% 3.28% 0.75%
(% to Equity Holdings) 6.76% 6.10%
1.90% 3.51%
8.81% 7.37%
Others 12.61% 14.05%
27.23% 9.87%
Debt 36.58% 15.42% 13.99%
Small Cap
Mid Cap
Large Cap 92.12%
78.50%
As per the latest Market Capitalisation 65.73% 69.91% 68.68%
data provided by AMFI 53.18%
(In line with the applicable SEBI
guidelines)

Top 5 Sectors Pharmaceuticals &

Banks 29% Banks 16% 11% Industrial Products 24% Banks 17% Banks 30%
Biotechnology
IT - Software 11% IT - Software 10% Industrial Products 11% IT - Software 7% IT - Software 10% IT - Software 10%
Pharmaceuticals &
Diversified FMCG 8% Auto Components 7% Finance 8% Auto Components 7% 7% Diversified FMCG 9%
Biotechnology
Petroleum Products 8% Electrical Equipment 7% Auto Components 6% Consumer Durables 6% Finance 7% Industrial Products 7%
Pharmaceuticals &
6% Leisure Services 6% Banks 5% Banks 6% Diversified FMCG 6% Petroleum Products 5%
Biotechnology
Standard Deviation 14.75 13.53 13.50 17.29 13.14 --
Beta (Slope) 0.93 0.78 0.73 0.79 0.82 --
Sharpe Ratio** 0.83 1.02 1.09 1.79 1.08 --
R 2
0.96 0.87 0.93 0.94 0.96 --
Total Expense Ratio^
2.18% 2.08% 1.80% 1.76% 2.01% 2.16%
(Regular)
Total Expense Ratio^
1.23% 1.04% 0.72% 0.74% 1.22% 0.96%
(Direct)
31
**Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, 2023)
 Equity Fund Snapshot as on 30th April, 2023

HSBC Infrastructure HSBC Business Cycles HSBC Nifty 50 Index HSBC Nifty Next 50 Index
Scheme Name HSBC Value Fund HSBC Multi Cap Fund
Fund Fund Fund Fund
Category Sectoral Thematic Value Fund Multi Cap Index Funds Index Funds

Date of Allotment 27-Sep-07 20-Aug-14 08-Jan-10 30-Jan-23 15-Apr-20 15-Apr-20

NIFTY 500 Multicap 50:25:25

Benchmark NIFTY Infrastructure TRI Nifty 500 TRI Nifty 500 TRI Nifty 50 TRI Nifty Next 50 TRI
TRI

Venugopal Manghat Ankur Arora Venugopal Manghat Venugopal Manghat, Sonal

Fund Manager Praveen Ayathan Praveen Ayathan
Gautam Bhupal Venugopal Manghat Vihang Shankar Naik Gupta, Kapil Lal Punjabi
NAV (Regular Option) 26.9033 25.0366 62.2685 10.3128 20.426 16.9943
Monthly AUM (` in cr.) 1,561.80 566.37 8,087.74 1,277.96 176.64 61.34
Value of ` 100,000
invested in scheme since 2,73,140 2,50,370 6,22,680 1,03,130 2,04,260 1,69,940
inception
Market Cap
(% to Equity Holdings) 0.14% 2.29% 1.51% 4.00% 1.78%
1.09% 7.94%
Others 16.24% 15.28% 21.32%
Debt 26.76%

Small Cap 30.57% 25.07%

39.34%
Mid Cap 28.06%
Large Cap 98.22% 92.11%

As per the latest Market Capitalisation

data provided by AMFI 51.86% 52.10%
43.19% 41.18%
(In line with the applicable SEBI
- 0.05%
guidelines)

Top 5 Sectors Industrial Products 22% Banks 26% Banks 27% Banks 16% Banks 27% Personal Products 8%

Construction 18% Construction 14% IT - Software 8% Industrial Products 12% IT - Software 13% Finance 7%
Cement & Cement
Electrical Equipment 11% Industrial Products 9% Construction 5% IT - Software 8% Petroleum Products 11% 7%
Products
Cement & Cement Pharmaceuticals & Chemicals &
8% Consumer Durables 5% 5% Construction 7% Finance 9% 7%
Products Biotechnology Petrochemicals
Power 6% Petroleum Products 5% Industrial Products 5% Electrical Equipment 5% Diversified FMCG 7% Retailing 6%

Standard Deviation 15.79 16.37 14.90 -- -- --

Beta (Slope) 0.89 0.98 0.90 -- -- --
Sharpe Ratio** 1.50 1.15 1.35 -- -- --
R 2
0.74 0.88 0.91 -- -- --
Total Expense Ratio^
2.15% 2.46% 1.80% 2.14% 0.45% 0.80%
(Regular)
Total Expense Ratio^
1.11% 1.39% 0.83% 0.78% 0.20% 0.35%
(Direct)

**Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, 2023) 32

 Equity Fund Snapshot as on 30th April, 2023

HSBC Balanced Advantage

Scheme Name HSBC Aggressive Hybrid Fund HSBC Arbitrage Fund HSBC Equity Savings Fund HSBC ELSS Fund
Fund
Dynamic Asset Allocation or Balanced
Category Aggressive Hybrid Fund Arbitrage Fund Equity Savings ELSS
Advantage
Date of Allotment 07-Feb-11 30-Jun-14 07-Feb-11 18-Oct-11 27-Feb-06
NIFTY 50 Hybrid Composite Debt Nifty 50 Hybrid composite debt 50:50
Benchmark Nifty 50 Arbitrage Index NIFTY Equity Savings Index Nifty 500 TRI
65:35 Index Index
Cheenu Gupta Praveen Ayathan Neelotpal Sahai Cheenu Gupta Cheenu Gupta
Fund Manager
Shriram Ramanathan Ritesh Jain Ritesh Jain Ritesh Jain Gautam Bhupal
NAV (Regular Option) 37.0612 16.3479 32.2539 24.195 80.4984

Monthly AUM (` in cr.) 4,668.21 1,918.19 1,482.62 140.73 3,053.84

Value of ` 100,000
invested in scheme since 3,72,180 1,63,480 3,22,540 2,41,950 8,04,990
inception
Market Cap
1.87%
(% to Equity Holdings) 9.27% 8.89% 7.94%
17.32%
4.89%
12.39%
Others 15.98% 23.55% 23.30%
17.65%
Debt
21.64% 33.14%
Small Cap
28.86% 30.28%
Mid Cap
Large Cap 69.94%
As per the latest Market Capitalisation 53.11% 46.53%
data provided by AMFI 38.70% 34.75%
(In line with the applicable SEBI
guidelines)

Top 5 Sectors Government Securities 17% Finance 18% Banks 17% Government Securities 21% Banks 21%

Banks 16% Government Securities 17% Finance 14% Banks 13% IT - Software 11%

IT - Software 9% Banks 14% Government Securities 11% Finance 6% Electrical Equipment 6%

Pharmaceuticals &
Finance 5% Petroleum Products 6% 8% Beverages 6% Petroleum Products 6%
Biotechnology
Leisure Services 5% Mutual Fund 5% Realty 5% IT - Software 6% Automobiles 5%

Standard Deviation 11.05 -- -- -- 14.18

Beta (Slope) 0.98 -- -- -- 0.85

Sharpe Ratio** 0.79 -- -- -- 0.96

R2 0.86 -- -- -- 0.89
Total Expense Ratio^
1.89% 0.96% 2.11% 1.50% 1.95%
(Regular)
Total Expense Ratio^
0.85% 0.28% 0.77% 0.60% 1.14%
(Direct)
**Risk free rate: 6.9% (FIMMDA-NSE Mibor) as on Apr 28, 2023) 33
 Debt Fund Snapshot as on 30th April, 2023

HSBC Overnight HSBC Money HSBC Ultra Short HSBC Low HSBC Corporate HSBC Banking and HSBC Credit Risk
Scheme Name HSBC Liquid Fund
Fund Market Fund Duration Fund Duration Fund Bond Fund PSU Debt Fund Fund
Ultra Short Duration Banking and PSU
Category Overnight Fund Liquid Fund Money Market Fund Low Duration Fund Corporate Bond Fund Credit Risk Fund
Fund Fund

Date of Allotment 22-May-19 04-Dec-02 10-Aug-05 30-Jan-20 04-Dec-10 31-Mar-97 12-Sep-12 08-Oct-09

NIFTY Ultra Short

Nifty Money Market NIFTY Low Duration NIFTY Corporate Bond NIFTY Banking & PSU NIFTY Credit Risk
Benchmark NIFTY 1D Rate Index Nifty Liquid Index B-I Duration Debt Index
Index B-I Debt Index B-I Index B-III Debt Index Bond Index C-III
B-I
Kapil Lal Punjabi Kapil Lal Punjabi Kapil Lal Punjabi Mahesh Chhabria Shriram Ramanathan Jalpan Shah Mahesh Chhabria Shriram Ramanathan
Fund Manager
Mahesh Chhabria Shriram Ramanathan Shriram Ramanathan Jalpan Shah Mahesh Chhabria Shriram Ramanathan Jalpan Shah Kapil Lal Punjabi

NAV (Regular Option) 1172.1135 2238.1317 22.6067 1160.9614 24.2099 62.3755 20.8220 24.7386

Monthly AUM (` in cr.) 2854.31 Cr 12949.10 Cr 859.26 Cr 2677.36 Cr 442.47 Cr 7120.87 Cr 4782.91 Cr 129.78 Cr
Average Maturity of
3.04 Days 41.98 Days 279.83 Days 5.42 Months 13.11 Months 5.46 years 2.91 years 1.49 years
Portfolio
Modified Duration of
3.04 Days 39.24 Days 260.67 Days 5.05 Months 8.81 Months 4.22 years 2.48 years 1.25 years
Portfolio
Macaulay Duration of
3.04 Days 41.98 Days 279.83 Days 5.42 Months 9.45 Months 4.46 years 2.63 years 1.32 years
Portfolio

Yield To Maturity 6.83% 7.07% 7.34% 7.24% 7.48% 7.32% 7.30% 7.68%

Rating Profile 0.33% 0.96% 2.06% 1.61%

1.72% 3.14% 2.26%
12.07%
6.12%
SOVEREIGN 14.82% 12.35%
17.94% 24.68%
21.52% 23.92% 16.03%
AAA and equivalents 14.95%
19.47%
AA and equivalents
(AA+, AA, AA-) 7.68% 8.20% 7.52% 7.69% 7.47% 7.49% 7.63%
93.55% 83.16%
Reverse Repos/ TREPS 77.54% 80.63%
71.06%
72.28% 73.91%
56.52%

Net Current Assets

Equity - 0.02% - 0.04% - 0.18% - 0.08% - 0.10% - 0.09% -4.09%

Total Expense Ratio

0.20% 0.22% 0.55% 0.48% 0.64% 0.63% 0.61% 1.67%
(Regular)

Total Expense Ratio

0.10% 0.12% 0.25% 0.22% 0.25% 0.29% 0.23% 0.85%
(Direct)

34
 Debt Fund Snapshot as on 30th April, 2023

HSBC Medium HSBC HSBC CRISIL IBX HSBC CRISIL IBX

HSBC Short HSBC Medium HSBC Dynamic
Scheme Name to Long Duration HSBC Gilt Fund Conservative 50-50 Gilt Plus Apr Gilt June 2027
Duration Fund Duration Fund Bond Fund
Fund Hybrid Fund 2028 Index Fund Index Fund
Medium to Long Conservative Hybrid
Category Short Duration Fund Medium Duration Fund Dynamic Bond Gilt Fund Index Funds Index Funds
Duration Fund Fund

Date of Allotment 27-Dec-11 02-Feb-15 10-Dec-02 27-Sep-10 29-Mar-00 24-Feb-04 31-Mar-22 23-Mar-23

NIFTY Medium NIFTY Medium to Long NIFTY 50 Hybrid CRISIL IBX 50:50 Gilt
NIFTY Short Duration NIFTY Composite Debt NIFTY All Duration CRISIL-IBX Gilt Index -
Benchmark Duration Debt Index Duration Debt Index Composite Debt 15:85 Plus SDL Index - April
Debt Index B-II Index A-III G-Sec Index June 2027
B-III B-III Index 2028
Jalpan Shah Shriram Ramanathan Jalpan Shah Jalpan Shah Jalpan Shah Ritesh Jain Ritesh Jain Ritesh Jain
Fund Manager
Shriram Ramanathan Kapil Lal Punjabi Shriram Ramanathan Shriram Ramanathan Shriram Ramanathan Cheenu Gupta Kapil Lal Punjabi Kapil Lal Punjabi

NAV (Regular Option) 22.5984 17.2961 36.4981 25.1461 57.2757 47.7240 10.5288 10.1466

Monthly AUM (` in cr.) 3576.50 Cr 700.25 Cr 42.00 Cr 199.25 Cr 229.12 Cr 115.85 Cr 2239.88 Cr 275.89 Cr
Average Maturity of
2.11 year 4.31 years 5.30 years 2.81 years 4.13 years 3.43 years 4.53 years 4.02 years
Portfolio
Modified Duration of
1.80 years 3.27 years 4.16 years 2.22 years 3.19 years 2.87 years 3.72 years 3.34 years
Portfolio
Macaulay Duration of
1.90 years 3.41 years 4.31 years 2.34 years 3.30 years 2.98 years 3.85 years 3.45 years
Portfolio

Yield To Maturity 7.37% 7.70% 7.17% 7.26% 7.05% 7.13% 7.29% 7.12%

Rating Profile 0.42% 0.71% 2.02%

6.28% 2.87% 6.25%
4.90% 0.54%
SOVEREIGN 9.16% 21.29%
8.10%
41.38%
AAA and equivalents 33.02%

37.92% 22.71%
AA and equivalents
(AA+, AA, AA-) 94.03% 98.05%
98.75%
62.12%
Reverse Repos/ TREPS 70.19%
60.76% 56.20%
50.12%
Net Current Assets

Equity - 0.06% - 0.07% -0.28% - 0.20% -11.57% - 0.07%

-0.24%

Total Expense Ratio

0.75% 1.10% 1.91% 0.76% 1.70% 2.16% 0.43% 0.45%
(Regular)

Total Expense Ratio

0.27% 0.40% 0.68% 0.29% 0.48% 1.33% 0.23% 0.17%
(Direct)

35
 HSBC Overnight Fund
Overnight Fund - An open-ended debt scheme investing in overnight securities. A relatively low interest
rate risk and relatively low credit risk.
Investment Objective: The scheme aims to offer reasonable returns commensurate with low risk and high degree of liquidity
through investments overnight securities. However, there is no assurance that the investment objective of the Scheme will be
achieved.

Fund Details Issuer Rating % to Net Assets Quantitative Data

Date of Allotment 22-May-19 Treasury Bill 6.12% YTM $

6.83%
NIFTY 1D Rate 364 DAY TBILL 25MAY23 SOVEREIGN 2.62% Average Maturity 3.04 Days
Benchmark
Index 5,6
91 DAYS T-BILL 18MAY23 SOVEREIGN 1.75%
NAV (as on 30.04.23) Modified Duration 3.04 Days
182 DAYS T-BILL 18MAY23 SOVEREIGN 1.75%
Growth ₹ 1172.1135 Macaulay Duration 3.04 Days
Cash Equivalent 93.88%
Direct Growth ₹ 1178.8848
TREPS* 12.28%
AUM (as on 30.04.23) ₹ 2854.31 Cr
PRC Matrix
AAUM (for the month Reverse Repos 81.27%
₹ 3449.55 Cr Potential Risk Class
of Apr) Net Current Assets: 0.33%
Fund Manager & Experience Credit Risk →
Total Net Assets as on 30-APRIL-2023 100.00% Relatively Relatively
Kapil Lal Punjabi Moderate
Interest Rate Low High
*TREPS : Tri-Party Repo (Class B)
Total Experience 16 Years Risk ↓ (Class A) (Class C)
Managing this fund Since May 22, 2019
Relatively Low
Mahesh Chhabria Rating Profile A-I
(Class I)
Total Experience 12 Years 6.12%
Managing this fund Since Nov 26, 2022 Moderate
(Class II)
Minimum Investment 1

Relatively High
Lumpsum ₹ 5,000
0.33% (Class III)
SIP## Please refer page 72
Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
Additional Purchase ₹ 1,000 risk (measured by Macaulay Duration of the scheme) and maximum credit
Entry load: “NA” risk (measured by Credit Risk Value of the scheme) the fund manager can
take in the scheme. PRC matrix classification is done in accordance with
Exit load: NIL and subject to the methodology/guidelines prescribed by SEBI to help
Month End Total Expenses Ratios 93.55%
investors take informed decision based on the maximum interest rate risk
and maximum credit risk the fund manager can take in the scheme, as
(Annualized)2 depicted in the PRC matrix.
Regular3 0.20%
Direct 0.10% Reverse Repos/ TREPS SOVEREIGN
1
in multiples of Re 1 thereafter. Net Current Assets
2
TER Annualized TER including GST on
Investment Management Fees
3
Continuing plans
4
SEBI vide its circular no. SEBI/HO/IMD/
IMD-II DF3/P/CIR/2021/652 dated October
27, 2021, on ‘Guiding Principles for bringing
uniformity in Benchmarks of Mutual Fund
Schemes’ has introduced two-tiered structure
for benchmarking of certain categories of
schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore,
the same is effective from 01 December 2021.
6
Fund’s benchmark has changed with effect
from April 01, 2022.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Income over short term and high liquidity
Low to High
Moderate • Investment in debt & money market instruments with overnight maturity
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Low risk

36
 HSBC Liquid Fund
Liquid Fund - An open-ended liquid scheme. A relatively low interest rate risk and moderate credit risk.
Investment Objective: To provide reasonable returns, commensurate with low risk while providing a high level of liquidity,
through a portfolio of money market and debt securities. However, there can be no assurance that the Scheme objective can
be realised.

Fund Details % to Net Quantitative Data

Issuer Rating
Assets
Date of Allotment 04-Dec-02 YTM $
7.07%
Money Market Instruments
Nifty Liquid Index Average Maturity 41.98 Days
Benchmark Certificate of Deposit 20.91%
B-I6, 7
Canara Bank CRISIL A1+ 5.76% Modified Duration 39.24 Days
NAV (as on 30.04.23)
Axis Bank Limited CRISIL A1+ 4.42%
Growth ₹ 2238.1317 Bank of Baroda CARE A1+ 3.83% Macaulay Duration 41.98 Days
Direct Growth ₹ 2254.1327 HDFC Bank Limited ICRA A1+ 3.06%
Small Industries Development Bank
AUM (as on 30.04.23) ₹ 12949.10 Cr CARE A1+ 2.50%
of India Rating Profile
AAUM (for the month Kotak Mahindra Bank Limited CRISIL A1+ 0.77%
₹ 11806.81 Cr
of Apr) ICICI Bank Limited ICRA A1+ 0.57% 0.96% -0.02%
Fund Manager & Experience Commercial Paper 56.63% 21.52%
Kapil Lal Punjabi National Bank for Agriculture & Rural
CRISIL A1+ 5.58%
Total Experience 16 Years Development
Managing this fund Since Mar 14, 2014 Small Industries Development Bank
CARE A1+ 5.46%
of India
Shriram Ramanathan Reliance Retail Ventures Limited CARE A1+ 5.38%
Total Experience 22 Years Reliance Industries Limited CRISIL A1+ 5.37%
Managing this fund Since Nov 26, 2022 Tata Steel Limited ICRA A1+ 4.58%
Minimum Investment1 HDFC Securities Limited CRISIL A1+ 3.83%
Kotak Securities Limited CRISIL A1+ 3.83% 77.54%
Lumpsum ₹ 5,000
ICICI Securities Limited CRISIL A1+ 3.82%
SIP## Please refer page 72 ICICI Home Finance Limited ICRA A1+ 3.44% AAA and equivalents SOVEREIGN
Additional Purchase ₹ 1,000 Tata Capital Financial Services Limited CRISIL A1+ 2.31%
Reverse Repos/ TREPS Net Current Assets
Birla Group Holdings Private Limited ICRA A1+ 1.92%
Entry Load: “NA”
Sikka Ports & Terminals Limited (Mukesh
Exit Load2: Refer table below CRISIL A1+ 1.92%
Ambani group)
Following Exit Load shall be applicable if Aditya Birla Housing Finance Limited ICRA A1+ 1.91% PRC Matrix
switched out/redeemed within 7 Calendar Days. Tata Power Renewable Energy Limited CRISIL A1+ 1.91%
Potential Risk Class
Exit Load as a Can Fin Homes Limited ICRA A1+ 1.91%
Investor exit Tata Power Company Limited CRISIL A1+ 1.54%
% of redemption Credit Risk → Relatively Relatively
uponsubscription Berger Paints India Limited CARE A1+ 0.77% Moderate
proceeds Low High
Bajaj Financial Securities Limited IND A1+ 0.76% Interest Rate (Class B)
Day 1 0.0070% Risk ↓ (Class A) (Class C)
Sundaram Home Finance Limited CRISIL A1+ 0.39%
Day 2 0.0065%
Treasury Bill 21.52% Relatively Low
Day 3 0.0060% B-I
91 DAYS T-BILL 11MAY23 SOVEREIGN 3.97% (Class I)
Day 4 0.0055% 182 DAYS T-BILL - 29JUN2023 SOVEREIGN 3.90% Moderate
Day 5 0.0050% 91 DAYS T-BILL 20Jul23 SOVEREIGN 3.80% (Class II)
182 DAYS T-BILL 15JUN23 SOVEREIGN 1.68%
Day 6 0.0045% Relatively High
182 DAYS T-BILL 08JUN23 SOVEREIGN 1.53%
Day 7 Onwards 0.0000% 91 DAYS T-BILL 13Jul23 SOVEREIGN 1.52% (Class III)
Month End Total Expenses Ratios 91 DAYS T-BILL 27Jul23 SOVEREIGN 1.52% Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
(Annualized)3 91 DAYS TBILL 01 Jun 2023 SOVEREIGN 0.84% risk (measured by Macaulay Duration of the scheme) and maximum credit
182 DAYS T-BILL 01JUN23 SOVEREIGN 0.77% risk (measured by Credit Risk Value of the scheme) the fund manager can
Regular4 0.22% take in the scheme. PRC matrix classification is done in accordance with
91 DAYS TBILL 08 Jun 2023 SOVEREIGN 0.77% and subject to the methodology/guidelines prescribed by SEBI to help
Direct 0.12% 182 DAYS T-BILL 22JUN23 SOVEREIGN 0.76% investors take informed decision based on the maximum interest rate risk
364 DAYS T-BILL 22JUN23 SOVEREIGN 0.23% and maximum credit risk the fund manager can take in the scheme, as
364 DAYS T-BILL 29JUN23 SOVEREIGN 0.23% depicted in the PRC matrix.
1
in multiples of Re 1 thereafter.
Cash Equivalent 0.94%
2
Effective from Oct 20, 2019 on Prospective TREPS* 0.96%
basis. Net Current Assets: -0.02%
3
TER Annualized TER including GST on Total Net Assets as on 30-APRIL-2023 100.00%
Investment Management Fees *TREPS : Tri-Party Repo
4
Continuing plans
5
SEBI vide its circular no. SEBI/HO/IMD/
IMD-II DF3/P/CIR/2021/652 dated October
27, 2021, on ‘Guiding Principles for bringing
uniformity in Benchmarks of Mutual Fund
Schemes’ has introduced two-tiered structure
for benchmarking of certain categories of
schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore,
the same is effective from 01 December 2021.
7
Fund’s benchmark has changed with effect
from April 01, 2022.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Overnight liquidity over short term
Low to High
Moderate • Investment in Money Market Instruments
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be from Low to Moderate risk

37
 HSBC Money Market Fund
Money Market Fund - An open-ended debt scheme investing in money market instruments. A relatively low interest rate risk
and moderate credit risk
Investment Objective: The primary objective of the Scheme is to generate regular income through investment in a portfolio
comprising substantially of money market instruments. There is no assurance that the objective of the Scheme will be realised
and the Scheme does not assure or guarantee any returns.

Fund Details % to Net Quantitative Data

Issuer Rating
Assets
Date of Allotment 10-Aug-05 YTM $
7.34%
Money Market Instruments
Nifty Money Market Average Maturity 279.83 Days
Benchmark Certificate of Deposit 57.39%
Index B-I6, 7
NAV (as on 30.04.23) Bank of Baroda IND A1+ 5.58% Modified Duration 260.67 Days
Growth ₹ 22.6067 Canara Bank CRISIL A1+ 5.58% Macaulay Duration 279.83 Days
Direct Growth ₹ 23.5771 HDFC Bank Limited CARE A1+ 5.51%
AUM (as on 30.04.23) ₹ 859.26 Cr National Bank for Agriculture &
ICRA A1+ 5.51% Rating Profile
AAUM (for the month Rural Development
₹ 872.44 Cr
of Apr) 2.06% -0.04%
Axis Bank Limited CRISIL A1+ 5.50%
Fund Manager & Experience 14.82%
Kapil Lal Punjabi Union Bank of India ICRA A1+ 5.50%
Total Experience 16 Years Kotak Mahindra Bank Limited CRISIL A1+ 5.50%
Managing this fund Since Nov 26 , 2022
Small Industries Development
Shriram Ramanathan CARE AAA 5.50%
Bank of India
Total Experience 22 Years Indian Bank CRISIL A1+ 5.50%
Managing this fund Since Mar 21, 2020
Minimum Investment 1 State Bank of India IND A1+ 5.47%

Lumpsum ₹ 5,000 ICICI Bank Limited ICRA A1+ 2.24% 83.16%

SIP## Please refer page 72 Commercial Paper 25.77%

AAA and equivalents SOVEREIGN
Additional Purchase ₹ 1,000
Housing Development Finance Reverse Repos/ TREPS Net Current Assets
Entry Load: “NA” CRISIL A1+ 7.15%
Corporation Limited
Exit Load : 2
Nil
Export Import Bank of India CRISIL A1+ 5.46%
Month End Total Expenses Ratios PRC Matrix
(Annualized)3 Kotak Mahindra Prime Limited CRISIL A1+ 4.40%
Potential Risk Class
Regular4 0.55% Tata Capital Financial Services
CRISIL A1+ 4.38%
Direct 0.25% Limited Credit Risk → Relatively Relatively
Moderate
LIC Housing Finance Limited CRISIL A1+ 4.38% Interest Rate Low High
1
in multiples of Re 1 thereafter. (Class B)
Risk ↓ (Class A) (Class C)
2
Effective from Oct 20, 2019 on Prospective Treasury Bill 14.82%
basis. Relatively Low
364 DAYS T-BILL 14MAR24 SOVEREIGN 5.48% B-I
(Class I)
3
TER Annualized TER including GST on
Investment Management Fees 364 DAYS T-BILL 07MAR24 SOVEREIGN 3.84% Moderate
4
Continuing plans 364 DAYS T-BILL 15FEB24 SOVEREIGN 2.76% (Class II)
5
SEBI vide its circular no. SEBI/HO/IMD/ 364 DAYS T-BILL 22MAR24 SOVEREIGN 2.74% Relatively High
IMD-II DF3/P/CIR/2021/652 dated October (Class III)
27, 2021, on ‘Guiding Principles for bringing Cash Equivalent 2.02%
Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
uniformity in Benchmarks of Mutual Fund TREPS* 2.06% risk (measured by Macaulay Duration of the scheme) and maximum credit
Schemes’ has introduced two-tiered structure risk (measured by Credit Risk Value of the scheme) the fund manager can
for benchmarking of certain categories of Net Current Assets: -0.04% take in the scheme. PRC matrix classification is done in accordance with
and subject to the methodology/guidelines prescribed by SEBI to help
schemes. Accordingly, the benchmark has been Total Net Assets as on investors take informed decision based on the maximum interest rate risk
classified as Tier 1 benchmark. Furthermore, 100.00% and maximum credit risk the fund manager can take in the scheme, as
30-APRIL-2023
the same is effective from 01 December 2021. depicted in the PRC matrix.
*TREPS : Tri-Party Repo
7
Fund’s benchmark has changed with effect
from April 01, 2022.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Generation of regular income over short to medium term
Low to High
Moderate • Investment in money market instruments
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be from Low to Moderate risk

38
 HSBC Low Duration Fund
Low Duration Fund - An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio
is between 6 months to 12 months. A relatively low interest rate risk and moderate credit risk.
Investment Objective: To provide liquidity and reasonable returns by investing primarily in a mix of short term debt and money market
instruments such that the Macaulay duration of the portfolio is between 6 months to 12 months. However, there can be no assurance or
guarantee that the investment objective of the scheme would be achieved.

Fund Details Issuer Rating % to Net Assets Quantitative Data

Date of Allotment 04-Dec-10 Corporate Bonds / YTM $

7.48%
48.08%
Debentures
Benchmark: NIFTY Low Duration Debt Index Average Maturity 13.11 Months
Small Industries Development
B-I 5, 6 CARE AAA 5.94%
Bank of India
NAV (as on 30.04.23) Reliance Industries Limited CRISIL AAA 5.89% Modified Duration 8.81 Months

Growth ₹ 24.2099 Bharti Telecom Limited CRISIL AA+ 5.86% Macaulay Duration^ 9.45 Months
Direct Growth ₹ 25.3017 Housing Development Finance
CRISIL AAA 5.66%
Corporation Limited
AUM (as on 30.04.23) ₹ 442.47 Cr Rating Profile
Muthoot Finance Limited CRISIL AA+ 5.65%
AAUM (for the month
₹ 441.36 Cr REC Limited CRISIL AAA 5.62% -0.08%
of Apr) 12.35%
National Bank for Agriculture &
Fund Manager & Experience CRISIL AAA 5.52%
Rural Development
Shriram Ramanathan Embassy Office Parks REIT CRISIL AAA 4.50%
1.72%
Total Experience 22 Years Shriram Finance Limited CRISIL AA+ 3.44% 14.95%
Managing this fund Since Nov 24, 2012
Money Market Instruments
Mahesh Chhabria
Certificate of Deposit 37.93%
Total Experience 12 Years
Managing this fund Since Nov 26 , 2022 Kotak Mahindra Bank Limited CRISIL A1+ 5.53%
71.06%
Minimum Investment 1 Axis Bank Limited ICRA A1+ 5.51%

Lumpsum ₹ 5,000 ICICI Bank Limited ICRA A1+ 5.43%

AAA and equivalents AA and equivalents
SIP## Please refer page 72 Bank of Baroda IND A1+ 5.42%
SOVEREIGN Reverse Repos/ TREPS
Additional Purchase ₹ 1,000 Canara Bank CRISIL A1+ 5.42%
Net Current Assets
Entry Load: “NA” State Bank of India IND A1+ 5.31%

Exit Load: NIL Export Import Bank of India CRISIL AAA 5.31%
PRC Matrix
Month End Total Expenses Ratios Government Securities 6.77%
(Annualized)2 GOI FRB 04Oct2028 SOVEREIGN 5.62% Potential Risk Class
Regular 3
0.64% 6.69% GOI 27JUN2024 SOVEREIGN 1.15% Credit Risk → Relatively Relatively
Direct 0.25% Moderate
Treasury Bill 5.58%
Interest Rate Low High
(Class B)
182 DAYS T-BILL 13JUL23 SOVEREIGN 5.58% Risk ↓ (Class A) (Class C)
^The Macaulay duration is the weighted
average term to maturity of the cash flows Cash Equivalent 1.64% Relatively Low
from a bond. The weight of each cash flow is B-I
TREPS* 1.72% (Class I)
determined by dividing the present value of the
cash flow by the price. Net Current Assets: -0.08% Moderate
1
in multiples of Re 1 thereafter. Total Net Assets as on 30-APRIL-2023 100.00% (Class II)
2
TER Annualized TER including GST on *TREPS : Tri-Party Repo Relatively High
Investment Management Fees (Class III)
3
Continuing plans Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
4
SEBI vide its circular no. SEBI/HO/IMD/ risk (measured by Macaulay Duration of the scheme) and maximum credit
risk (measured by Credit Risk Value of the scheme) the fund manager can
IMD-II DF3/P/CIR/2021/652 dated October take in the scheme. PRC matrix classification is done in accordance with
27, 2021, on ‘Guiding Principles for bringing and subject to the methodology/guidelines prescribed by SEBI to help
uniformity in Benchmarks of Mutual Fund investors take informed decision based on the maximum interest rate risk
Schemes’ has introduced two-tiered structure and maximum credit risk the fund manager can take in the scheme, as
for benchmarking of certain categories of depicted in the PRC matrix.
schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore,
the same is effective from 01 December 2021.
6
Fund’s benchmark has changed with effect
from April 01, 2022.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High
• Liquidity over short term
Low to High • Investment in Debt / Money Market Instruments such that the Macaulay duration of the portfolio is between 6 months to 12
Moderate
months
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Low Very High

RISKOMETER Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be from Low to Moderate risk

39
 HSBC Ultra Short Duration Fund
Ultra Short Duration Fund - An Open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the
portfolio is between 3 months to 6 months. A relatively low interest rate risk and moderate credit risk.

Investment Objective: To provide liquidity and generate reasonable returns with low volatility through investment in a portfolio comprising
of debt & money market instruments. However, there is no assurance that the investment objective of the scheme will be achieved.

Fund Details Issuer Rating % to Net Assets Issuer Rating % to Net Assets
Date of Allotment 30-Jan-20 Corporate Bonds / Debentures 17.07% 182 DAYS T-BILL 14SEP23 SOVEREIGN 1.82%
Benchmark: NIFTY Ultra Short Duration Debt Housing Development Finance 182 DAYS T-BILL 15JUN23 SOVEREIGN 0.56%
CRISIL AAA 3.79%
Index B-I 5, 6 Corporation Limited
Cash Equivalent 1.43%
NAV (as on 30.04.23) Bajaj Finance Limited CRISIL AAA 3.72%
TREPS* 1.61%
Growth ₹ 1160.9614 Power Finance Corporation
CRISIL AAA 1.98%
Limited Net Current Assets: -0.18%
Direct Growth ₹ 1170.7787
ICICI Bank Limited CARE AAA 1.95% Total Net Assets as on 30-APRIL-2023 100.00%
AUM (as on 30.04.23) ₹ 2677.36 Cr
AAUM (for the month Kotak Mahindra Prime Limited CRISIL AAA 1.91% *TREPS : Tri-Party Repo
₹ 2593.01 Cr
of Apr) National Housing Bank CRISIL AAA 1.86%
Fund Manager & Experience National Bank for Agriculture &
ICRA AAA 1.86% Quantitative Data
Mahesh Chhabria Rural Development
Total Experience 12 Years YTM $
7.24%
Money Market Instruments
Managing this fund Since Nov 26, 2022
Average Maturity 5.42 Months
Jalpan Shah Certificate of Deposit 40.47%
Total Experience 17 Years Canara Bank CRISIL A1+ 5.48% Modified Duration 5.05 Months
Managing this fund Since Nov 26, 2022
ICICI Bank Limited ICRA A1+ 5.40%
Minimum Investment1 Macaulay Duration 5.42 Months
HDFC Bank Limited CARE A1+ 5.37%
Lumpsum ₹ 5,000
ICRA A1+ / Rating Profile
SIP## Please refer page 72 Axis Bank Limited 5.41%
CRISIL A1+
Additional Purchase ₹ 1,000 1.61% -0.18%
Kotak Mahindra Bank Limited CRISIL A1+ 3.59%
Entry Load: “NA”
State Bank of India IND A1+ 2.73% 17.94%
Exit Load2: NIL
Month End Total Expenses Ratios ICRA A1+ /IND
Bank of Baroda 3.63%
(Annualized)2 A1+
Regular 3
0.48% Export Import Bank of India CRISIL A1+ 1.82%
Direct 0.22% National Bank for Agriculture & ICRA A1+ /
3.53%
1
in multiples of Re 1 thereafter. Rural Development IND A1+
80.63%
2
TER Annualized TER including GST on Small Industries Development
CARE AAA 1.76%
Investment Management Fees Bank of India
AAA and equivalents SOVEREIGN
3
Continuing plans Small Industries Development
CARE A1+ 1.75%
Bank of India
4
SEBI vide its circular no. SEBI/HO/IMD/ Reverse Repos/ TREPS Net Current Assets
IMD-II DF3/P/CIR/2021/652 dated October
Commercial Paper 23.09%
27, 2021, on ‘Guiding Principles for bringing
uniformity in Benchmarks of Mutual Fund PRC Matrix
Reliance Industries Limited CRISIL A1+ 3.70%
Schemes’ has introduced two-tiered structure
for benchmarking of certain categories of Housing Development Finance Potential Risk Class
CRISIL A1+ 3.60%
schemes. Accordingly, the benchmark has been Corporation Limited
Credit Risk → Relatively Relatively
classified as Tier 1 benchmark. Furthermore, ICICI Securities Limited CRISIL A1+ 2.74% Moderate
the same is effective from 01 December 2021. Interest Rate Low High
(Class B)
Tata Capital Financial Services Risk ↓ (Class A) (Class C)
6
Fund’s benchmark has changed with effect CRISIL A1+ 2.73%
Limited
from April 01, 2022. Relatively Low
Small Industries Development B-I
$
YTM is annualized. CARE A1+ 2.63% (Class I)
Bank of India
LIC Housing Finance Limited CRISIL A1+ 2.13% Moderate
(Class II)
Bajaj Finance Limited CRISIL A1+ 1.86%
Relatively High
Aditya Birla Finance Limited ICRA A1+ 1.85% (Class III)
Kotak Mahindra Investment Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
CRISIL A1+ 1.85%
Limited risk (measured by Macaulay Duration of the scheme) and maximum credit
risk (measured by Credit Risk Value of the scheme) the fund manager can
Treasury Bill 17.94% take in the scheme. PRC matrix classification is done in accordance with
and subject to the methodology/guidelines prescribed by SEBI to help
182 DAYS T-BILL 31AUG23 SOVEREIGN 5.48% investors take informed decision based on the maximum interest rate risk
and maximum credit risk the fund manager can take in the scheme, as
182 DAYS T-BILL 13JUL23 SOVEREIGN 3.69% depicted in the PRC matrix.
182 DAYS T-BILL 22SEP23 SOVEREIGN 2.73%
182 DAYS T-BILL 20JUL23 SOVEREIGN 1.84%
182 DAYS T-BILL 07SEP23 SOVEREIGN 1.82%

This product is suitable for investors who are seeking*:

Moderate Moderately
High
• Income over short term with low volatility.
Low to High • Investment in debt & money market instruments such that the Macaulay Duration of the portfolio is between 3 months- 6
Moderate
months.^
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be from Low to Moderate risk

40
 HSBC Short Duration Fund
Short Duration Fund - An open-ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio
is between 1 year to 3 years. A moderate interest rate risk and moderate credit risk.

Investment Objective: To provide a reasonable income through a diversified portfolio of fixed income securities such that the Macaulay
duration of the portfolio is between 1 year to 3 years. However, there can be no assurance or guarantee that the investment objective of
the scheme would be achieved.

Fund Details Issuer Rating % to Net Assets Rating Profile

Corporate Bonds / Debentures 47.09%
Date of Allotment 27-Dec-11 National Bank for Agriculture & Rural CRISIL AAA / 6.28% -0.06%
8.96%
Benchmark: NIFTY Short Duration Debt Development ICRA AAA
Index B-II5, 6 Housing Development Finance
CRISIL AAA 7.09%
Corporation Limited 33.02%
NAV (as on 30.04.23) Power Finance Corporation Limited CRISIL AAA 5.00%
CARE AAA /
Rec Limited 7.57%
Growth ₹ 22.5984 CRISIL AAA
Bajaj Housing Finance Limited CRISIL AAA 3.07%
Direct Growth ₹ 23.7121 LIC Housing Finance Limited CRISIL AAA 3.01%
AUM (as on 30.04.23) ₹ 3576.50 Cr Small Industries Development Bank
ICRA AAA 2.89%
of India
AAUM (for the month
₹ 3596.38 Cr Bajaj Finance Limited CRISIL AAA 2.79%
of Apr) Jamnagar Utilities and Power Pvt
CRISIL AAA 2.78% 60.76%
Fund Manager & Experience Limited ( Mukesh Ambani Group)
Kotak Mahindra Prime Limited CRISIL AAA 2.09%
Jalpan Shah NIIF Infrastructure Finance Limited ICRA AAA 1.12% AAA and equivalents SOVEREIGN
HDB Financial Services Limited CRISIL AAA 0.29%
Total Experience 17 Years
Sundaram Finance Limited CRISIL AAA 0.28% Reverse Repos/ TREPS Net Current Assets
Managing this fund Since May 30, 2016 Export Import Bank of India CRISIL AAA 0.15%
Shriram Ramanathan Money Market Instruments
Certificate of Deposit 12.53% PRC Matrix
Total Experience 22 Years Small Industries Development Bank
Managing this fund Since May 30, 2016 CARE AAA 4.62%
of India Potential Risk Class
Minimum Investment1 Kotak Mahindra Bank Limited CRISIL A1+ 2.64%
Axis Bank Limited CRISIL A1+ 2.64% Credit Risk → Relatively Relatively
Lumpsum ₹ 5,000 Export Import Bank of India CRISIL AAA 2.63% Moderate
Securitised Debt Amort 1.14% Interest Rate Low High
SIP## Please refer page 72 (Class B)
First Business Receivables Trust Risk ↓ (Class A) (Class C)
Additional Purchase ₹ 1,000 ( Backed by receivables from
CRISIL AAA(SO) 1.14%
Reliance Industries, Reliance Retail, Relatively Low
Entry Load: “NA” Reliance Jio) (Class I)
Exit Load: NIL Government Securities 33.02%
7.38% GOI 20JUN2027 SOVEREIGN 14.55% Moderate
Month End Total Expenses Ratios 7.89% GUJARAT 15MAY2025 SDL SOVEREIGN 5.76% B-II
(Class II)
(Annualized)2 GOI 07.35% 22JUN24 SOVEREIGN 5.33%
Regular3 0.75%
MAHARASHTRA 08.23% 09SEP25
SOVEREIGN 3.76% Relatively High
SDL (Class III)
Direct 0.27% MAHARASHTRA SDL 08.26%
SOVEREIGN 0.91%
12AUG25 Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
^The Macaulay duration is the weighted average term 5.63% GOI 12APR2026 SOVEREIGN 0.68% risk (measured by Macaulay Duration of the scheme) and maximum credit
to maturity of the cash flows from a bond. The weight KARNATAKA SDL 08.14% 13NOV25 SOVEREIGN 0.59% risk (measured by Credit Risk Value of the scheme) the fund manager can
of each cash flow is determined by dividing the present GUJARAT 07.96% 14OCT2025 SDL SOVEREIGN 0.57% take in the scheme. PRC matrix classification is done in accordance with
value of the cash flow by the price. GUJARAT GUJARA 8.23 09/09/25 SOVEREIGN 0.29% and subject to the methodology/guidelines prescribed by SEBI to help
GOI 06.17% 12JUN23 SOVEREIGN 0.29% investors take informed decision based on the maximum interest rate risk
1
in multiples of Re 1 thereafter. and maximum credit risk the fund manager can take in the scheme, as
8.50% JAMMU & KASHMIR
TER Annualized TER including GST on Investment
2 SOVEREIGN 0.14% depicted in the PRC matrix.
30MAR2025 SDL
Management Fees 8.65% UTTAR PRADESH
SOVEREIGN 0.11%
3
Continuing plans 10MAR2024 SDL
GOI 07.72% 25MAY25 SOVEREIGN 0.04%
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/
Cash Equivalent 6.22%
CIR/2021/652 dated October 27, 2021, on ‘Guiding
TREPS* 6.28%
Principles for bringing uniformity in Benchmarks of
Net Current Assets: -0.06%
Mutual Fund Schemes’ has introduced two-tiered
Total Net Assets as on 30-APRIL-2023 100.00%
structure for benchmarking of certain categories
*TREPS : Tri-Party Repo
of schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore, the same
is effective from 01 December 2021.
6
Fund’s benchmark has changed with effect from April Quantitative Data
01, 2022.
$
YTM is annualized. YTM$ 7.37%

Average Maturity 2.11 year

Modified Duration 1.80 years

Macaulay Duration^ 1.90 years

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Generation of regular returns over short term
Low to High
Moderate • Investment in fixed income securities of shorter term maturity.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be from Low to Moderate risk

41
 HSBC Medium Duration Fund
Medium Duration Fund - An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the
portfolio is between 3 years to 4 years. A relatively high interest rate risk and moderate credit risk.

Investment Objective: To seek to generate income by investing primarily in debt and money market securities. There is no assurance
that the objective of the Scheme will be realised and the Scheme does not assure or guarantee any returns.

Fund Details Issuer Rating % to Net Assets Rating Profile

Corporate Bonds / Debentures 39.05%
Date of Allotment 02-Feb-15 2.87% -0.07%
ONGC Petro Additions Limited
Benchmark: NIFTY Medium Duration Debt (Letter of comfort from Oil & Natural ICRA AAA (CE) 7.04% 9.16%
Index B-III5, 6 Gas Corporation Limited)
NAV (as on 30.04.23) NIIF Infrastructure Finance Limited ICRA AAA 6.07%
Oriental Nagpur Betul Highway
Growth ₹ 17.2961 Limited (Nhai Annuity Receivables)
CRISIL AAA 4.28%
Direct Growth ₹ 18.5907 Embassy Office Parks REIT CRISIL AAA 4.26%
AUM (as on 30.04.23) ₹ 700.25 Cr Patel Knr Heavy Infrastructures
CARE AA+ 4.00%
Limited (Nhai Annuity Receivables)
AAUM (for the month 37.92%
50.12%
₹ 710.84 Cr
of Apr) Sikka Ports & Terminals Limited
CRISIL AAA 3.73%
(Mukesh Ambani group)
Fund Manager & Experience SOVEREIGN AAA and equivalents
Bharti Telecom Limited CRISIL AA+ 3.71%
Shriram Ramanathan Yarrow Infrastructure Pvt Limited
AA and equivalents Reverse Repos/ TREPS

Total Experience 22 Years (Vector green energy sponsored IND AAA (CE) 1.96% Net Current Assets
Managing this fund Since Feb 02, 2015 co-obligor structure)

Kapil Lal Punjabi Shriram Finance Limited CRISIL AA+ 1.45%

Vector Green Prayagraj Solar
Total Experience 16 Years Pvt Limited (Vector green energy IND AAA (CE) 0.72% PRC Matrix
Managing this fund Since Nov 26,2022 sponsored co-obligor structure)
Potential Risk Class
Minimum Investment1 Malwa Solar Power Generation
Lumpsum ₹ 5,000 Pvt Limited (Vector green energy IND AAA (CE) 0.61% Credit Risk → Relatively Relatively
sponsored co-obligor structure) Moderate
SIP## Please refer page 72 Interest Rate Low High
Sepset Constructions Pvt Limited (Class B)
Risk ↓ (Class A) (Class C)
Additional Purchase ₹ 1,000 (Vector green energy sponsored IND AAA (CE) 0.61%
co-obligor structure)
Entry Load: “NA” Relatively Low
Power Finance Corporation Limited CRISIL AAA 0.41%
Exit Load: NIL (Class I)
Priapus Infrastructure Pvt Limited
Month End Total Expenses Ratios (Vector green energy sponsored IND AAA (CE) 0.10% Moderate
(Annualized)2 co-obligor structure) (Class II)
Regular3 1.10% Citra Real Estate Limited (Vector
Relatively High
green energy sponsored co-obligor IND AAA (CE) 0.10% B-III
Direct 0.40% structure) (Class III)

Securitised Debt Amort 8.03% Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
^The Macaulay duration is the weighted average term risk (measured by Macaulay Duration of the scheme) and maximum credit
to maturity of the cash flows from a bond. The weight First Business Receivables Trust risk (measured by Credit Risk Value of the scheme) the fund manager can
of each cash flow is determined by dividing the present ( Backed by receivables from take in the scheme. PRC matrix classification is done in accordance with
value of the cash flow by the price. CRISIL AAA(SO) 8.03% and subject to the methodology/guidelines prescribed by SEBI to help
Reliance Industries, Reliance Retail,
1
in multiples of Re 1 thereafter. Reliance Jio) investors take informed decision based on the maximum interest rate risk
and maximum credit risk the fund manager can take in the scheme, as
TER Annualized TER including GST on Investment
2
Government Securities 50.12% depicted in the PRC matrix.
Management Fees
3
Continuing plans 7.38% GOI 20JUN2027 SOVEREIGN 23.77%
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ 7.26% GOI 22AUG2032 SOVEREIGN 23.33%
CIR/2021/652 dated October 27, 2021, on ‘Guiding 7.54% GOVERNMENT OF INDIA
SOVEREIGN 3.02%
Principles for bringing uniformity in Benchmarks of 23MAY2036 GSEC
Mutual Fund Schemes’ has introduced two-tiered
structure for benchmarking of certain categories Cash Equivalent 2.80%
of schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore, the same TREPS* 2.87%
is effective from 01 December 2021. Net Current Assets: -0.07%
5
Fund’s benchmark has changed with effect from April Total Net Assets as on
01, 2022. 100.00%
30-APRIL-2023
$
YTM is annualized. *TREPS : Tri-Party Repo

Quantitative Data
YTM$ 7.70%

Average Maturity 4.31 years

Modified Duration 3.27 years

Macaulay Duration^ 3.41 years

This product is suitable for investors who are seeking*:

Moderate Moderately

Low to
High
• Generation of income over medium term
High
Moderate
• Investment primarily in debt and money market securities
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderate risk

42
 HSBC Medium to Long Duration Fund
Medium to Long Duration Fund - An open-ended medium to long term debt scheme investing in instruments such that the Macaulay
duration of the portfolio is between 4 years to 7 years. A relatively high interest rate risk and moderate credit risk.

Investment Objective: To provide a reasonable income through a diversified portfolio of fixed income securities such that the Macaulay
duration of the portfolio is between 4 years to 7 years.

Fund Details Issuer Rating % to Net Assets Quantitative Data

Date of Allotment 10-Dec-02 Government Securities 94.03% YTM $

7.17%
Benchmark: NIFTY Medium to Long Duration GOI 07.17% 08JAN28 SOVEREIGN 30.58% Average Maturity 5.30 years
Fund B-III Index 5, 6
7.38% GOI 20JUN2027 SOVEREIGN 19.82%
NAV (as on 30.04.23) Modified Duration 4.16 years
07.26% GS 2029 SOVEREIGN 12.26%
Growth ₹ 36.4981 Macaulay Duration^ 4.31 years
7.26% GOI 22AUG2032 SOVEREIGN 12.15%
Direct Growth ₹ 39.6799
7.10% GOVERNMENT OF
AUM (as on 30.04.23) ₹ 42.00 Cr SOVEREIGN 11.96%
INDIA 18APR29 Rating Profile
AAUM (for the month
₹ 41.82 Cr 7.76% MAHARASHTRA
of Apr) SOVEREIGN 6.11% 6.25%
04Oct2030 SDL
Fund Manager & Experience
Jalpan Shah 5.63% GOI 12APR2026 SOVEREIGN 1.15%
Total Experience 17 Years Cash Equivalent 5.97%
-0.28%
Managing this fund Since Nov, 26 2022
TREPS* 6.25%
Shriram Ramanathan
Net Current Assets: -0.28%
Total Experience 22 Years
Managing this fund Since Nov, 26 2022 Total Net Assets as on 30-APRIL-2023 100.00%
Minimum Investment1 *TREPS : Tri-Party Repo
94.03%
Lumpsum ₹ 10,000
SIP## Please refer page 72 SOVEREIGN Reverse Repos/ TREPS
Additional Purchase ₹ 1,000
Net Current Assets
Entry Load: “NA”
Exit Load: NIL
Month End Total Expenses Ratios PRC Matrix
(Annualized)2 Potential Risk Class
Regular3 1.91%
Credit Risk → Relatively Relatively
Direct 0.68% Moderate
Interest Rate Low High
^The Macaulay duration is the weighted average term (Class B)
Risk ↓ (Class A) (Class C)
to maturity of the cash flows from a bond. The weight
of each cash flow is determined by dividing the present
value of the cash flow by the price. Relatively Low
(Class I)
1
in multiples of Re 1 thereafter.
TER Annualized TER including GST on Investment
2 Moderate
Management Fees (Class II)
3
Continuing plans
Relatively High
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ B-III
(Class III)
CIR/2021/652 dated October 27, 2021, on ‘Guiding
Principles for bringing uniformity in Benchmarks of Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
Mutual Fund Schemes’ has introduced two-tiered risk (measured by Macaulay Duration of the scheme) and maximum credit
structure for benchmarking of certain categories risk (measured by Credit Risk Value of the scheme) the fund manager can
of schemes. Accordingly, the benchmark has been take in the scheme. PRC matrix classification is done in accordance with
classified as Tier 1 benchmark. Furthermore, the same and subject to the methodology/guidelines prescribed by SEBI to help
is effective from 01 December 2021. investors take informed decision based on the maximum interest rate risk
6
Fund’s benchmark has changed with effect from April and maximum credit risk the fund manager can take in the scheme, as
01, 2022. depicted in the PRC matrix.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Regular income over medium term
Low to High
Moderate • Investment in diversified portfolio of fixed income securities such that the Macaulay duration of the portfolio is between 4
year to 7 years
Very High
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low

RISKOMETER

Investors understand that their principal Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderate risk

43
 HSBC Dynamic Bond Fund
Dynamic Bond Fund - An open ended dynamic debt scheme investing across duration. A relatively high interest rate risk and relatively
low credit risk.
Investment Objective: To deliver returns in the form of interest income and capital gains, along with high liquidity, commensurate with the
current view on the markets and the interest rate cycle, through active investment in debt and money market instruments. However, there
can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Fund Details Issuer Rating % to Net Assets Quantitative Data

Date of Allotment 27-Sep-10 Corporate Bonds / Debentures 56.20% YTM$ 7.26%
Benchmark: NIFTY Composite Debt Index Rec Limited CRISIL AAA 8.10%
Average Maturity 2.81 years
A-III 5, 6 Small Industries Development
CARE AAA 7.92%
Bank of India Modified Duration 2.22 years
NAV (as on 30.04.23)
National Bank for Agriculture &
Growth ₹ 25.1461 CRISIL AAA 7.73% Macaulay Duration^ 2.34 years
Rural Development
Direct Growth ₹ 26.9197 Reliance Industries Limited CRISIL AAA 7.53% Rating Profile
AUM (as on 30.04.23) ₹ 199.25 Cr National Housing Bank CRISIL AAA 7.50%
AAUM (for the month Indian Oil Corporation Limited ICRA AAA 7.48% 21.29%
₹ 199.53 Cr
of Apr)
LIC Housing Finance Limited CRISIL AAA 5.03%
Fund Manager & Experience
Housing Development Finance -0.20%
Jalpan Shah CRISIL AAA 4.91%
Corporation Limited
Total Experience 17 Years Government Securities 22.71%
Managing this fund Since May 30, 2016
7.26% GOI 22AUG2032 SOVEREIGN 12.81%
Shriram Ramanathan
7.38% GOI 20JUN2027 SOVEREIGN 7.83%
Total Experience 22 Years
Managing this fund Since Feb 02, 2015 07.26% GS 2029 SOVEREIGN 1.29% 22.71% 56.20%

Minimum Investment 1 GOI 07.17% 08JAN28 SOVEREIGN 0.52%

Lumpsum ₹ 5,000 GOI 07.68% 15DEC2023 SOVEREIGN 0.26% AAA and equivalents SOVEREIGN

SIP ##
Please refer page 72 Cash Equivalent 21.09% Reverse Repos/ TREPS Net Current Assets
Additional Purchase ₹ 1,000 TREPS* 21.29%
Entry Load: “NA” Net Current Assets: -0.20%
Exit Load: NIL Total Net Assets as on 30-APRIL-2023 100.00% PRC Matrix
Month End Total Expenses Ratios *TREPS : Tri-Party Repo
Potential Risk Class
(Annualized)2
Regular3 0.76% Credit Risk → Relatively Relatively
Moderate
Interest Rate Low High
Direct 0.29% (Class B)
Risk ↓ (Class A) (Class C)
^The Macaulay duration is the weighted average term
to maturity of the cash flows from a bond. The weight Relatively Low
of each cash flow is determined by dividing the present
(Class I)
value of the cash flow by the price.
1
in multiples of Re 1 thereafter. Moderate
TER Annualized TER including GST on Investment
2 (Class II)
Management Fees
Relatively High
Continuing plans A-III
3
(Class III)
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/
CIR/2021/652 dated October 27, 2021, on ‘Guiding Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
risk (measured by Macaulay Duration of the scheme) and maximum credit
Principles for bringing uniformity in Benchmarks of
risk (measured by Credit Risk Value of the scheme) the fund manager can
Mutual Fund Schemes’ has introduced two-tiered
take in the scheme. PRC matrix classification is done in accordance with
structure for benchmarking of certain categories
and subject to the methodology/guidelines prescribed by SEBI to help
of schemes. Accordingly, the benchmark has been
investors take informed decision based on the maximum interest rate risk
classified as Tier 1 benchmark. Furthermore, the same
and maximum credit risk the fund manager can take in the scheme, as
is effective from 01 December 2021. depicted in the PRC matrix.
6
Fund’s benchmark has changed with effect from April
01, 2022.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Generation of reasonable returns over medium to long term
Low to High
Moderate • Investment in fixed income securities
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderate risk

44
 HSBC Corporate Bond Fund
Corporate Bond Fund - An open-ended debt scheme predominantly investing in AA+ and above rated corporate bonds. A
relatively high interest rate risk and relatively low credit risk.
Investment Objective: To generate regular return by investing predominantly in AA+ and above rated debt and money market
instruments. There is no assurance that the objective of the Scheme will be realised and the Scheme does not assure or
guarantee any returns.

Fund Details Issuer Rating % to Net Assets Quantitative Data

Date of Allotment 31-Mar-97 Corporate Bonds / YTM$ 7.32%
72.28%
Debentures
Benchmark: NIFTY Corporate Bond Index Average Maturity 5.46 years
B-III5, 6 National Highways Authority
CRISIL AAA 8.63%
of India
NAV (as on 30.04.23) Modified Duration 4.22 years
Indian Railway Finance
CRISIL AAA 7.84%
Growth ₹ 62.3755 Corporation Limited
Macaulay Duration 4.46 years
Direct Growth ₹ 65.9549 NTPC Limited CRISIL AAA 7.42%
AUM (as on 30.04.23) ₹ 7120.87 Cr Power Grid Corporation of
CRISIL AAA 6.51% Rating Profile
India Limited
AAUM (for the month
₹ 7104.33 Cr National Bank for Agriculture & ICRA AAA /
of Apr) 8.10% 3.14% -0.10%
Rural Development CRISIL AAA
Fund Manager & Experience
Rec Limited CRISIL AAA 5.82% 24.68%
Jalpan Shah
Indian Oil Corporation Limited CRISIL AAA 4.48%
Total Experience 17 Years
Managing this fund Since April 03, 2017 ICICI Bank Limited CARE AAA 4.19%
Shriram Ramanathan Housing and Urban
CARE AAA /
Development Corporation 4.58%
Total Experience 22 Years ICRA AAA
Limited
Managing this fund Since June 30, 2014
HDFC Bank Limited CRISIL AAA 3.67%
Minimum Investment1 72.28%
Housing Development Finance
Lumpsum ₹ 5,000 CRISIL AAA 3.62%
Corporation Limited
SIP## Please refer page 72 Export Import Bank of India CRISIL AAA 2.29%
AAA and equivalents SOVEREIGN
Additional Purchase ₹ 1,000 Power Finance Corporation Reverse Repos/ TREPS Net Current Assets
CRISIL AAA 2.18%
Entry Load: “NA” Limited
Exit Load2: • If the amount sought to be Kotak Mahindra Bank Limited CRISIL AAA 1.46%
redeemed or switched out on or before 3 Nuclear Power Corporation Of PRC Matrix
months from the date of allotment: 0.50%. CRISIL AAA 0.88%
India Limited
• If the amount sought to be redeemed or Potential Risk Class
switched out is invested for a period of more Food Corporation of India CRISIL AAA
0.45%
than 3 months from the date of allotment: Nil Limited (CE) Credit Risk → Relatively Relatively
Moderate
Month End Total Expenses Ratios NHPC Limited CARE AAA 0.16% Interest Rate Low High
(Class B)
(Annualized)2 Government Securities 24.68% Risk ↓ (Class A) (Class C)

Regular3 0.63% 7.38% GOI 20JUN2027 SOVEREIGN 10.23% Relatively Low

Direct 0.29% GOI 07.17% 08JAN28 SOVEREIGN 5.76% (Class I)
1
in multiples of Re 1 thereafter. 07.26% GS 2029 SOVEREIGN 4.70% Moderate
TER Annualized TER including GST on Investment
2
GOI 06.79% 15MAY2027 SOVEREIGN 3.31% (Class II)
Management Fees
6.47% MAHARASHTRA Relatively High
3
Continuing plans SOVEREIGN 0.68% A-III
21OCT2028 SDL (Class III)
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/
Cash Equivalent 3.04% Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
CIR/2021/652 dated October 27, 2021, on ‘Guiding
risk (measured by Macaulay Duration of the scheme) and maximum credit
Principles for bringing uniformity in Benchmarks of TREPS* 3.14% risk (measured by Credit Risk Value of the scheme) the fund manager can
Mutual Fund Schemes’ has introduced two-tiered
Net Current Assets: -0.10% take in the scheme. PRC matrix classification is done in accordance with
structure for benchmarking of certain categories and subject to the methodology/guidelines prescribed by SEBI to help
of schemes. Accordingly, the benchmark has been Total Net Assets as on 30-APRIL-2023 100.00% investors take informed decision based on the maximum interest rate risk
classified as Tier 1 benchmark. Furthermore, the same and maximum credit risk the fund manager can take in the scheme, as
is effective from 01 December 2021 *TREPS : Tri-Party Repo
depicted in the PRC matrix.
6
Fund’s benchmark has changed with effect from April
01, 2022.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Generation of regular and stable income over medium to long term
Low to High
Moderate • Investment predominantly in AA+ and above rated corporate bonds and money market instruments
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderate risk

45
 HSBC Banking and PSU Debt Fund
Banking and PSU Fund - An open-ended debt scheme primarily investing in debt instruments of banks, public sector
undertakings, public financial institutions and municipal bonds. A relatively high interest rate risk and relatively low credit.
Investment Objective: To generate reasonable returns by primarily investing in debt and money market securities that are
issued by Banks, Public Sector Undertakings (PSUs) and Public Financial Institutions (PFIs) in India. There is no assurance that
the objective of the Scheme will be realised and the Scheme does not assure or guarantee any returns.

Fund Details Issuer Rating % to Net Assets Quantitative Data

Date of Allotment 12-Sep-12 Corporate Bonds / Debentures 73.91% YTM$ 7.30%
Benchmark: NIFTY Banking & PSU Debt Small Industries Development Bank
ICRA AAA 9.22% Average Maturity 2.91 years
Index5, 6 of India

NAV (as on 30.04.23) Power Finance Corporation Limited CRISIL AAA 8.83% Modified Duration 2.48 years
NTPC Limited CRISIL AAA 8.57%
Growth ₹ 20.822 Macaulay Duration 2.63 years
Direct Growth ₹ 21.7522 National Bank for Agriculture & Rural CRISIL AAA /
9.61%
Development ICRA AAA
AUM (as on 30.04.23) ₹ 4782.91 Cr
Export Import Bank of India CRISIL AAA 5.53% Rating Profile
AAUM (for the month
₹ 4747.49 Cr
of Apr) Indian Oil Corporation Limited
ICRA AAA /
7.24%
CRISIL AAA 2.26% -0.09%
Fund Manager & Experience
Indian Railway Finance Corporation CRISIL AAA /
Mahesh Chhabria 4.92%
Limited CARE AAA 23.92%
Total Experience 12 Years
Power Grid Corporation of India
Managing this fund Since Nov 26,2022 CRISIL AAA 2.53%
Limited
Jalpan Shah
CARE AAA /
Total Experience 17 Years Rec Limited 8.57%
CRISIL AAA
Managing this fund Since May 30, 2016
Housing and Urban Development
Minimum Investment1 ICRA AAA 2.36%
Corporation Limited
73.91%
Lumpsum ₹ 5,000 National Housing Bank CRISIL AAA 2.25%
SIP ##
Please refer page 72 Axis Bank Limited CRISIL AAA 2.13% AAA and equivalents SOVEREIGN
Additional Purchase ₹ 1,000
HDFC Bank Limited CARE AAA 1.99% Reverse Repos/ TREPS Net Current Assets
Entry Load: “NA”
Kotak Mahindra Bank Limited CRISIL AAA 0.11%
Exit Load2: NIL
Housing Development Finance
Month End Total Expenses Ratios Corporation Limited
CRISIL AAA 0.05% PRC Matrix
(Annualized)2
Government Securities 23.92% Potential Risk Class
Regular3 0.61%
Direct 0.23% 7.38% GOI 20JUN2027 SOVEREIGN 11.96% Credit Risk → Relatively Relatively
Moderate
Interest Rate Low High
1
in multiples of Re 1 thereafter. 5.63% GOI 12APR2026 SOVEREIGN 6.07% (Class B)
Risk ↓ (Class A) (Class C)
TER Annualized TER including GST on Investment
2
5.74% GOI 15NOV2026 SOVEREIGN 5.89%
Management Fees
Relatively Low
3
Continuing plans Cash Equivalent 2.17%
(Class I)
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ TREPS* 2.26%
CIR/2021/652 dated October 27, 2021, on ‘Guiding Moderate
Principles for bringing uniformity in Benchmarks of Net Current Assets: -0.09% (Class II)
Mutual Fund Schemes’ has introduced two-tiered
Total Net Assets as on 30-APRIL-2023 100.00% Relatively High
structure for benchmarking of certain categories A-III
of schemes. Accordingly, the benchmark has been *TREPS : Tri-Party Repo (Class III)
classified as Tier 1 benchmark. Furthermore, the same
Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
is effective from 01 December 2021
risk (measured by Macaulay Duration of the scheme) and maximum credit
6
Fund’s benchmark has changed with effect from April risk (measured by Credit Risk Value of the scheme) the fund manager can
01, 2022. take in the scheme. PRC matrix classification is done in accordance with
and subject to the methodology/guidelines prescribed by SEBI to help
$
YTM is annualized.
investors take informed decision based on the maximum interest rate risk
and maximum credit risk the fund manager can take in the scheme, as
depicted in the PRC matrix.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Generation of reasonable returns and liquidity over short term.
Low to High
Moderate • Investment predominantly in securities issued by Banks, Public Sector Undertakings and Public Financial Institutions and
municipal corporations in India.
Very High
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low

RISKOMETER

Investors understand that their principal Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
will be at Moderate risk risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.

46
 HSBC Credit Risk Fund
Credit Risk Fund - An open-ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+
rated corporate bonds). A relatively high interest rate risk and relatively high credit risk.
Investment Objective: To generate regular returns and capital appreciation by investing predominantly in AA and below rated
corporate bonds, debt, government securities and money market instruments. There is no assurance that the objective of the
Scheme will be realised and the Scheme does not assure or guarantee any returns.

Fund Details Issuer Rating % to Net Assets Quantitative Data

Date of Allotment 08-Oct-09 Corporate Bonds / Debentures 68.59% YTM$ 7.68%
Benchmark: NIFTY Credit Risk Bond Index Tata Motors Limited ICRA AA- 8.10%
Average Maturity 1.49 years
C-III5, 6 ONGC Petro Additions Limited ICRA AA 8.08%

NAV (as on 30.04.23) Godrej Industries Limited CRISIL AA 8.07% Modified Duration 1.25 years
Growth ₹ 24.7386 Nuvoco Vistas Corp Limited CRISIL AA 8.02%
Macaulay Duration 1.32 years
Direct Growth ₹ 26.3551 Manappuram Finance Limited CRISIL AA 7.77%
Oriental Nagpur Betul Highway
AUM (as on 30.04.23) ₹ 129.78 Cr CRISIL AAA 6.54%
Limited (Nhai Annuity Receivables) Rating Profile
AAUM (for the month
₹ 129.96 Cr Tata power Company Limited IND AA 8.42%
of Apr) -4.09%
Aadhar Housing Finance Limited CARE AA 4.06%
Fund Manager & Experience 12.07%
Godrej Housing Finance Limited CRISIL AA 4.00%
Shriram Ramanathan
Yarrow Infrastructure Pvt Limited
Total Experience 22 Years (Vector green energy sponsored IND AAA (CE) 2.64%
Managing this fund Since Nov 24, 2012 co-obligor structure) 16.03%
Kapil Lal Punjabi Vector Green Prayagraj Solar
Pvt Limited (Vector green energy IND AAA (CE) 0.98%
Total Experience 16 Years
sponsored co-obligor structure)
Managing this fund Since Nov 26, 2022 19.47%
Malwa Solar Power Generation 56.52%
Minimum Investment1 Pvt Limited (Vector green energy IND AAA (CE) 0.83%
Lumpsum ₹ 5,000 sponsored co-obligor structure)
AA and equivalents Reverse Repos/ TREPS
Sepset Constructions Pvt Limited
SIP## Please refer page 72 (Vector green energy sponsored IND AAA (CE) 0.82% SOVEREIGN AAA and equivalents
Additional Purchase ₹ 1,000 co-obligor structure)
Net Current Assets
Entry Load: “NA” Priapus Infrastructure Pvt Limited
(Vector green energy sponsored IND AAA (CE) 0.13%
Exit Load2: • If the units redeemed or co-obligor structure)
switched out are upto 10% of the units Citra Real Estate Limited (Vector
purchased or switched in („the limit‰) within green energy sponsored co-obligor IND AAA (CE) 0.13% PRC Matrix
1 year from the structure)
Potential Risk Class
date of allotment : Nil
Government Securities 16.03%
• If units redeemed or switched out are over Credit Risk → Relatively Relatively
and above the limit within 1 year from the 7.38% GOI 20JUN2027 SOVEREIGN 16.03% Moderate
Interest Rate Low High
date of allotment : 1% (Class B)
Cash Equivalent 15.38%
Risk ↓ (Class A) (Class C)
• If units are redeemed or switched out on or
after 1 year from the date of allotment : Nil TREPS* 19.47%
Relatively Low
Month End Total Expenses Ratios Net Current Assets: -4.09% (Class I)
(Annualized)2 Total Net Assets as on 30-APRIL-2023 100.00%
Moderate
Regular3 1.67% *TREPS : Tri-Party Repo
(Class II)
Direct 0.85%
Relatively High
in multiples of Re 1 thereafter. C-III
1
(Class III)
TER Annualized TER including GST on Investment
2
Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
Management Fees risk (measured by Macaulay Duration of the scheme) and maximum credit
3
Continuing plans risk (measured by Credit Risk Value of the scheme) the fund manager can
take in the scheme. PRC matrix classification is done in accordance with
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/
and subject to the methodology/guidelines prescribed by SEBI to help
CIR/2021/652 dated October 27, 2021, on ‘Guiding
investors take informed decision based on the maximum interest rate risk
Principles for bringing uniformity in Benchmarks of
and maximum credit risk the fund manager can take in the scheme, as
Mutual Fund Schemes’ has introduced two-tiered
depicted in the PRC matrix.
structure for benchmarking of certain categories
of schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore, the same
is effective from 01 December 2021
6
Fund’s benchmark has changed with effect from April
01, 2022.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Generation of regular returns and capital appreciation over medium to long term
Low to High
Moderate • Investment in debt instruments (including securitized debt), government and money market securities
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderate risk

47
 HSBC Gilt Fund
Gilt Fund - An open-ended debt scheme investing in government securities across maturity. A relatively high interest rate risk
and relatively low credit risk.
Investment Objective: To generate returns from a portfolio from investments in Government Securities. There is no assurance
that the objective of the Scheme will be realised and the Scheme does not assure or guarantee any returns.

Fund Details Issuer Rating % to Net Assets Quantitative Data

Date of Allotment 29-Mar-00 Government Securities 70.19% YTM$ 7.05%
Benchmark: NIFTY All Duration G-Sec 7.38% GOI 20JUN2027 SOVEREIGN 22.71% Average Maturity 4.13 years
Index5, 6
7.26% GOI 22AUG2032 SOVEREIGN 20.05%
NAV (as on 30.04.23) Modified Duration 3.19 years
7.10% GOVERNMENT OF
Growth ₹ 57.2757 SOVEREIGN 10.96%
INDIA 18APR29 Macaulay Duration 3.30 years
Direct Growth ₹ 63.9659 5.63% GOI 12APR2026 SOVEREIGN 10.56%
AUM (as on 30.04.23) ₹ 229.12 Cr
07.26% GS 2029 SOVEREIGN 5.62% Rating Profile
AAUM (for the month
₹ 229.17 Cr 6.19% GOI 16SEP34 SOVEREIGN 0.29%
of Apr)
Fund Manager & Experience Cash Equivalent 29.81% -11.57%

Jalpan Shah TREPS* 41.38%

Total Experience 17 Years
Net Current Assets: -11.57%
Managing this fund Since May 30, 2016
Shriram Ramanathan Total Net Assets as on 30-APRIL-2023 100.00%
Total Experience 22 Years *TREPS : Tri-Party Repo
Managing this fund Since April 03, 2017
Minimum Investment1
41.38% 70.19%
Lumpsum ₹ 5,000
SIP## Please refer page 72 SOVEREIGN Reverse Repos/ TREPS
Additional Purchase ₹ 1,000
Net Current Assets
Entry Load: “NA”
Exit Load2: NIL
Month End Total Expenses Ratios PRC Matrix
(Annualized)2
Potential Risk Class
Regular 3
1.70%
Direct 0.48% Credit Risk → Relatively Relatively
Moderate
1
in multiples of Re 1 thereafter. Interest Rate Low High
(Class B)
TER Annualized TER including GST on Investment
2
Risk ↓ (Class A) (Class C)
Management Fees
3
Continuing plans
Relatively Low
(Class I)
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/
CIR/2021/652 dated October 27, 2021, on ‘Guiding Moderate
Principles for bringing uniformity in Benchmarks of (Class II)
Mutual Fund Schemes’ has introduced two-tiered
structure for benchmarking of certain categories Relatively High
of schemes. Accordingly, the benchmark has been A-III
(Class III)
classified as Tier 1 benchmark. Furthermore, the same
is effective from 01 December 2021 Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
risk (measured by Macaulay Duration of the scheme) and maximum credit
6
Fund’s benchmark has changed with effect from April
risk (measured by Credit Risk Value of the scheme) the fund manager can
01, 2022. take in the scheme. PRC matrix classification is done in accordance with
$
YTM is annualized. and subject to the methodology/guidelines prescribed by SEBI to help
investors take informed decision based on the maximum interest rate risk
and maximum credit risk the fund manager can take in the scheme, as
depicted in the PRC matrix.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Generation of returns over medium to long term
Low to High
Moderate
• Investment in Government Securities
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderate risk

48
 HSBC Conservative Hybrid Fund
Conservative Hybrid Fund - An open ended hybrid scheme investing predominantly in debt instruments.
Investment Objective: To seek generation of reasonable returns through investments in debt and money market Instruments.
The secondary objective of the Scheme is to invest in equity and equity related instruments to seek capital appreciation. However,
there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Fund Details % to Net % to Net

Issuer Rating Issuer Rating
Assets Assets
Date of Allotment 24-Feb-04
Money Market Instruments Kansai Nerolac Paints Limited Consumer Durables 0.20%
Benchmark: NIFTY 50 Hybrid Composite Housing Development Finance
Debt 15:85 Index5 Certificate of Deposit 8.10% Finance 0.05%
Corporation Limited
HDFC Bank Limited CARE A1+ 8.10%
NAV (as on 30.04.23) Cash Equivalent 5.32%
Government Securities 62.12% TREPS* 4.90%
Growth ₹ 47.724
5.63% GOI 12APR2026 SOVEREIGN 14.62% Net Current Assets: 0.42%
Direct Growth ₹ 52.4236
7.10% GOVERNMENT OF INDIA Total Net Assets as on 30-APRIL-2023 100.00%
AUM (as on 30.04.23) ₹ 115.85 Cr SOVEREIGN 13.00%
18APR29
*TREPS : Tri-Party Repo
AAUM (for the month 7.38% GOI 20JUN2027 SOVEREIGN 10.78%
₹ 115.28 Cr
of Apr) GOI 07.59% 11JAN26 SOVEREIGN 8.96%
Fund Manager & Experience GOI 07.17% 08JAN28 SOVEREIGN 4.88%
Ritesh Jain (For Fixed Income) 5.22% GOVERNMENT OF INDIA
15JUN25 G-SEC
SOVEREIGN 4.26% Quantitative Data
Total Experience 23 Years
Managing this fund Since Nov 26,2022 5.74% GOI 15NOV2026 SOVEREIGN 3.41%
YTM $
7.13%
7.76% MAHARASHTRA 04Oct2030
Cheenu Gupta (For Equity) SOVEREIGN 2.21%
SDL Average Maturity 3.43 years
Total Experience 17 Years EQUITY 24.46%
Managing this fund Since Nov 26,2022 Modified Duration 2.87 years
ICICI Bank Limited Banks 2.53%
Minimum Investment 1

HDFC Bank Limited Banks 2.18% Macaulay Duration^ 2.98 years

Lumpsum ₹ 5,000
Larsen and Toubro Limited Construction 1.63%
SIP## Please refer page 72
KPIT Technologies Limited IT - Software 1.35%
Additional Purchase ₹ 1,000 Rating Profile
Siemens Limited Electrical Equipment 1.04%
Entry Load: “NA” 0.42%
TVS Motor Company Limited Automobiles 1.03% 4.90%
Exit Load: Nil
Godrej Consumer Products Limited Personal Products 0.95%
Month End Total Expenses Ratios 8.10%
Sun Pharmaceutical Industries Pharmaceuticals &
(Annualized)2 Limited Biotechnology
0.93%
Regular3 2.16% Chemicals &
Navin Fluorine International Limited 0.84%
Petrochemicals
Direct 1.33%
KEI Industries Limited Industrial Products 0.76%
^The Macaulay duration is the weighted average term
to maturity of the cash flows from a bond. The weight Hindustan Unilever Limited Diversified FMCG 0.74%
of each cash flow is determined by dividing the present Chemicals &
value of the cash flow by the price. Gujarat Fluorochemicals Limited 0.73%
Petrochemicals 62.12%
1
in multiples of Re 1 thereafter. GMM Pfaudler Limited Industrial Manufacturing 0.68%
TER Annualized TER including GST on Investment
2
IndusInd Bank Limited Banks 0.66%
Management Fees SOVEREIGN AAA and equivalents
Titan Company Limited Consumer Durables 0.66%
3
Continuing plans
Reverse Repos/ TREPS Net Current Assets
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ VRL Logistics Limited Transport Services 0.62%
CIR/2021/652 dated October 27, 2021, on ‘Guiding TD Power Systems Limited Electrical Equipment 0.60%
Principles for bringing uniformity in Benchmarks of
Mutual Fund Schemes’ has introduced two-tiered ABB India Limited Electrical Equipment 0.53%
structure for benchmarking of certain categories The Indian Hotels Company Limited Leisure Services 0.51%
of schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore, the same Fertilizers &
PI Industries Litmited 0.44%
is effective from 01 December 2021. Agrochemicals
Cholamandalam Investment and
$
YTM is annualized. Finance 0.44%
Finance Company Limited
Persistent Systems Limited IT - Software 0.41%
State Bank of India Banks 0.40%
Hindustan Aeronautics Limited Aerospace & Defense 0.38%
Reliance Industries Limited Petroleum Products 0.37%
Chemicals &
SRF Limited 0.35%
Petrochemicals
Infosys Limited IT - Software 0.35%
Sona BLW Precision Forgings
Auto Components 0.29%
Limited
Shoppers Stop Limited Retailing 0.29%
Bharat Electronics Limited Aerospace & Defense 0.27%
SBI Life Insurance Company Limited Insurance 0.27%
Mayur Uniquoters Limited Consumer Durables 0.26%
Westlife Development Limited Leisure Services 0.26%
Schaeffler India Limited Auto Components 0.24%
Minda Industries Limited Auto Components 0.22%

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Investment in fixed income (debt and money market instruments) as well as equity and equity related securities
Low to High
Moderate
• Capital appreciation over medium to long term
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderately High risk

49
 HSBC CRISIL IBX 50-50 Gilt Plus SDL Apr 2028 Index Fund
Index Fund - An open-ended Target Maturity Index Fund tracking CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028. Relatively
high interest rate risk and relatively low credit risk
Investment Objective: To provide returns corresponding to the total returns of the securities as represented by the CRISIL
IBX 50:50 Gilt Plus SDL Index - April 2028 before expenses, subject to tracking errors. However, there is no assurance that the
investment objective of the Scheme will be achieved.

Fund Details % to Net

Issuer Rating Quantitative Data
Assets
Date of Allotment 31-Mar-22
Government Securities 98.75% YTM$ 7.29%
Benchmark: CRISIL IBX 50:50 Gilt Plus SDL
7.38% GOI 20JUN2027 SOVEREIGN 28.10%
Index - April 20285 Average Maturity 4.53 years
7.06% GOI 10APR28 SOVEREIGN 8.99%
NAV (as on 30.04.23)
7.36% MAHARASHTRA 12APR28 SDL SOVEREIGN 6.57% Modified Duration 3.72 years
Growth ₹ 10.5288
8.05% GUJARAT SDL 31JAN2028 SOVEREIGN 5.38% Macaulay Duration^ 3.85 years
Direct Growth ₹ 10.5519
8.05% TAMILNADU SDL 18APR2028 SOVEREIGN 4.97%
AUM (as on 30.04.23) ₹ 2239.88 Cr
GOI 07.17% 08JAN28 SOVEREIGN 4.59%
AAUM (for the month Rating Profile
₹ 2234.32 Cr 7.88% MADHYA PRADESH 24JAN28 SDL SOVEREIGN 3.95%
of Apr)
Fund Manager & Experience 6.97% KARNATAKA 26FEB2028 SDL SOVEREIGN 3.79% 0.54%
6.97% MAHARASHTRA 18FEB2028 SDL SOVEREIGN 2.46%
Ritesh Jain
GOI 08.26% 02AUG2027 SOVEREIGN 2.38%
Total Experience 23 Years
Managing this fund Since Nov 26,2022 GOI 08.28% 21SEP27 SOVEREIGN 2.36%
0.71%
GOI 06.79% 15MAY2027 SOVEREIGN 2.29%
Kapil Lal Punjabi
6.98% MAHARASHTRA 26FEB2028 SDL SOVEREIGN 1.78%
Total Experience 16 Years
8.43% TAMIL NADU SDL RED
Managing this fund Since Mar 31, 2022 07-MARCH-2028
SOVEREIGN 1.41%
Minimum Investment1 8.20% HARYANA 31JAN28 SDL SOVEREIGN 1.18%
98.75%
Lumpsum ₹ 5,000 7.86% RAJASTHAN SDL 27DEC2027 SOVEREIGN 1.17%
SIP ##
Please refer page 72 8.28% TAMILNADU SDL 14MAR2028 SOVEREIGN 1.17%
SOVEREIGN Reverse Repos/ TREPS
Additional Purchase ₹ 1,000 7.82% KARNATAKA 27Dec2027 SDL SOVEREIGN 1.17%
Entry Load: “NA” Net Current Assets
7.69% KARNATAKA 20Dec27 SDL SOVEREIGN 1.16%
Exit Load: Nil 7.92% UTTAR PRADESH 24JAN2028 SDL SOVEREIGN 1.16%
Month End Total Expenses Ratios 7.77% ANDHRA PRADESH SDL RED PRC Matrix
SOVEREIGN 1.16%
(Annualized)2 10-JAN-2028
Potential Risk Class
Regular3 0.43% 8.00% SDL-KERALA M- 11-APR-2028 SOVEREIGN 1.15%
7.59% UTTARPRADESH 25 Oct 2027 SDL SOVEREIGN 1.13% Credit Risk → Relatively Relatively
Direct 0.23% Moderate
Interest Rate Low High
Tracking Difference 8.14% HARYANA 27MAR28 SDL SOVEREIGN 1.00% (Class B)
Risk ↓ (Class A) (Class C)
Regular -0.16% 8.28% TAMILNADU SDL 21Feb28 SOVEREIGN 0.94%
Direct 0.05% 8.00% KARNATAKA SDL RED 17-JAN-2028 SOVEREIGN 0.94% Relatively Low
7.67% UTTARPRADESH M-29 Nov 2027 (Class I)
^The Macaulay duration is the weighted average term SOVEREIGN 0.93%
to maturity of the cash flows from a bond. The weight SDL
Moderate
of each cash flow is determined by dividing the present 8.27% UTTARPRADESH SDL14MAR2028 SOVEREIGN 0.93% (Class II)
value of the cash flow by the price.
07.76% Karnataka 13 DEC 2027 SDL SOVEREIGN 0.70%
1
in multiples of Re 1 thereafter. Relatively High
A-III
TER Annualized TER including GST on Investment
2
8.14% SDL Uttarakhand 27Mar2028 SOVEREIGN 0.70% (Class III)
Management Fees 8.03% KARNATAKA SDL 31JAN2028 SOVEREIGN 0.47% Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
3
Continuing plans 7.76% UTTARPRADESH 13 Dec 2027 SDL SOVEREIGN 0.47% risk (measured by Macaulay Duration of the scheme) and maximum credit
risk (measured by Credit Risk Value of the scheme) the fund manager can
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/ 8.15% CHHATTISGARH 27MAR28 SDL SOVEREIGN 0.46% take in the scheme. PRC matrix classification is done in accordance with
CIR/2021/652 dated October 27, 2021, on ‘Guiding
and subject to the methodology/guidelines prescribed by SEBI to help
Principles for bringing uniformity in Benchmarks of 7.59% Uttarakhand 25 Oct 2027 SDL SOVEREIGN 0.45%
investors take informed decision based on the maximum interest rate risk
Mutual Fund Schemes’ has introduced two-tiered 7.50% TELANGANA SDL RED 15-APR- and maximum credit risk the fund manager can take in the scheme, as
structure for benchmarking of certain categories SOVEREIGN 0.45%
2028 depicted in the PRC matrix.
of schemes. Accordingly, the benchmark has been
7.64% GUJARAT 08NOV27 SDL SOVEREIGN 0.35%
classified as Tier 1 benchmark. Furthermore, the same
is effective from 01 December 2021. 7.69% GUJARAT 20 Dec 2027 SDL SOVEREIGN 0.23%
$
YTM is annualized. 7.69% TAMILNADU 20 Dec 2027 SDL SOVEREIGN 0.23%
7.64% KARNATAKA SDL RED 08-NOV-
SOVEREIGN 0.03%
2027
Cash Equivalent 1.25%
TREPS* 0.54%
Net Current Assets: 0.71%
Total Net Assets as on 30-APRIL-2023 100.00%
*TREPS : Tri-Party Repo

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Income over target maturity period
Low to High
Moderate • Investment in constituents similar to the composition of CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderate risk

50
 HSBC CRISIL IBX Gilt June 2027 Index Fund
Index Fund - An open-ended Target Maturity Index Fund tracking CRISIL-IBX Gilt Index - June 2027. Relatively high interest rate
risk and relatively low credit risk.
Investment Objective: To provide returns corresponding to the total returns of the securities as represented by the CRISIL-IBX
Gilt Index - June 2027 before expenses, subject to tracking errors. However, there is no assurance that the investment objective
of the Scheme will be achieved.

Fund Details % to Net Rating Profile

Issuer Rating
Assets
Date of Allotment 23-Mar-23 -0.07%
Government Securities 98.05%
Benchmark: CRISIL-IBX Gilt Index - June
7.38% GOI 20JUN2027 SOVEREIGN 79.20%
20275
GOI 08.24% 15FEB27 SOVEREIGN 9.57% 2.02%
NAV (as on 30.04.23)
GOI 06.79% 15MAY2027 SOVEREIGN 9.28%
Growth ₹ 10.1466
Cash Equivalent 1.95%
Direct Growth ₹ 10.1494
TREPS* 2.02%
AUM (as on 30.04.23) ₹ 275.89 Cr
Net Current Assets: -0.07%
AAUM (for the month
₹ 276.22 Cr Total Net Assets as on 30-APRIL-2023 100.00% 98.05%
of Apr)
*TREPS : Tri-Party Repo
Fund Manager & Experience
SOVEREIGN Reverse Repos/ TREPS
Ritesh Jain
Total Experience 23 Years Quantitative Data Net Current Assets
Managing this fund Since Mar 23, 2023
YTM$ 7.12%
Kapil Lal Punjabi
Average Maturity 4.02 years PRC Matrix
Total Experience 16 Years
Managing this fund Since Mar 23, 2023 Modified Duration 3.34 years Potential Risk Class
Minimum Investment1
Credit Risk → Relatively Relatively
Lumpsum ₹ 5,000 Macaulay Duration^ 3.45 years Moderate
Interest Rate Low High
SIP ##
Please refer page 72 (Class B)
Risk ↓ (Class A) (Class C)
Additional Purchase ₹ 1,000
Relatively Low
Entry Load: “NA” (Class I)
Exit Load: Nil
Moderate
Month End Total Expenses Ratios (Class II)
(Annualized)2
Relatively High
Regular3 0.45% A-III
(Class III)
Direct 0.17%
Potential Risk Class (‘PRC’) matrix indicates the maximum interest rate
Tracking Difference risk (measured by Macaulay Duration of the scheme) and maximum credit
Regular 0.79% risk (measured by Credit Risk Value of the scheme) the fund manager can
take in the scheme. PRC matrix classification is done in accordance with
Direct 1.07% and subject to the methodology/guidelines prescribed by SEBI to help
^The Macaulay duration is the weighted average term investors take informed decision based on the maximum interest rate risk
to maturity of the cash flows from a bond. The weight and maximum credit risk the fund manager can take in the scheme, as
depicted in the PRC matrix.
of each cash flow is determined by dividing the present
value of the cash flow by the price.
1
in multiples of Re 1 thereafter.
TER Annualized TER including GST on Investment
2

Management Fees
3
Continuing plans
4
SEBI vide its circular no. SEBI/HO/IMD/IMD-II DF3/P/
CIR/2021/652 dated October 27, 2021, on ‘Guiding
Principles for bringing uniformity in Benchmarks of
Mutual Fund Schemes’ has introduced two-tiered
structure for benchmarking of certain categories
of schemes. Accordingly, the benchmark has been
classified as Tier 1 benchmark. Furthermore, the same
is effective from 01 December 2021.
$
YTM is annualized.

This product is suitable for investors who are seeking*:

Moderate Moderately
High • Income over target maturity period
Low to High
Moderate • Investments in Government Securities and Tbills
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Low Very High

RISKOMETER
Please note that the above risk-o-meter is as per the product labelling of the scheme available as on the date of this communication/ disclosure. Any change in
Investors understand that their principal risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS to unitholders of that particular Scheme.
will be at Moderate risk

51
 SIP Performance Equity Schemes - Regular Plan
HSBC Focused Fund& Inception Date: 22 Jul 20
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 NA NA 330000
Market Value as on April 30, 2023 (₹) 1,23,268 NA NA 3,65,222
Scheme Returns (%) 5.18 NA NA 7.37
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 NA NA 3,86,597
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 NA NA 11.63
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 NA NA 3,88,284
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 NA NA 11.96

HSBC Flexi Cap Fund& Inception Date: 24 Feb 04

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 2300000
Market Value as on April 30, 2023 (₹) 1,26,487 4,39,466 8,18,226 93,83,697
Scheme Returns (%) 10.37 13.48 12.41 13.10
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 92,41,636
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 12.97
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 91,22,636
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.85

HSBC Large and Mid Cap Fund& Inception Date: 28 Mar 19

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 NA 490000
Market Value as on April 30, 2023 (₹) 1,25,561 4,36,480 NA 6,46,037
Scheme Returns (%) 8.87 13.01 NA 13.65
NIFTY Large Midcap 250 TRI - Scheme Benchmark (₹) 1,24,619 4,58,383 NA 6,97,387
NIFTY Large Midcap 250 TRI - Scheme Benchmark Returns (%) 7.35 16.45 NA 17.54
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 NA 6,62,505
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 NA 14.93

HSBC Large Cap Fund& Inception Date: 10 Dec 02

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 2440000
Market Value as on April 30, 2023 (₹) 1,23,915 4,23,831 7,98,252 1,13,07,370
Scheme Returns (%) 6.22 10.97 11.41 13.33
Nifty 100 TRI - Scheme Benchmark (₹) 1,23,198 4,35,990 8,34,461 NA
Nifty 100 TRI - Scheme Benchmark Returns (%) 5.07 12.93 13.20 NA
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 1,17,76,917
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.66

HSBC Mid Cap Fund& Inception Date: 09 Aug 04

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 2240000
Market Value as on April 30, 2023 (₹) 1,22,509 4,26,944 8,07,463 1,08,95,196
Scheme Returns (%) 3.97 11.47 11.87 15.03
NIFTY Midcap 150 TRI - Scheme Benchmark (₹) 1,26,001 4,81,546 9,61,932 NA
NIFTY Midcap 150 TRI - Scheme Benchmark Returns (%) 9.58 19.97 19.02 NA
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 83,00,841
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.61

HSBC Aggressive Hybrid Fund*& Inception Date: 07 Feb 11

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1460000
Market Value as on April 30, 2023 (₹) 1,24,093 4,09,345 7,55,489 29,69,235
Scheme Returns (%) 6.50 8.58 9.19 11.08
NIFTY 50 Hybrid Composite Debt 65:35 Index - Scheme Benchmark (₹) 1,25,416 4,24,777 8,08,879 30,48,246
NIFTY 50 Hybrid Composite Debt 65:35 Index - Scheme Benchmark Returns (%) 8.63 11.12 11.94 11.47
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 33,54,927
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.91

*Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.

52
 SIP Performance Equity Schemes - Regular Plan
HSBC Infrastructure Fund*& Inception Date: 27 Sep 07
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1860000
Market Value as on April 30, 2023 (₹) 1,33,536 5,19,803 9,47,308 50,26,156
Scheme Returns (%) 21.98 25.55 18.39 11.85
NIFTY Infrastructure TRI* - Scheme Benchmark (₹) 1,27,658 4,67,040 9,06,813 35,69,366
NIFTY Infrastructure TRI* - Scheme Benchmark Returns (%) 12.27 17.78 16.60 7.93
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 52,58,225
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.36

HSBC Small Cap Fund*& Inception Date: 12 May 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1070000
Market Value as on April 30, 2023 (₹) 1,29,820 5,42,941 10,49,430 23,53,114
Scheme Returns (%) 15.81 28.79 22.62 17.06
NIFTY Small Cap 250 TRI - Scheme Benchmark (₹) 1,24,451 4,84,639 9,47,706 19,41,699
NIFTY Small Cap 250 TRI - Scheme Benchmark Returns (%) 7.08 20.43 18.41 12.96
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 19,27,659
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.80

HSBC Business Cycles Fund* Inception Date: 20 Aug 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1040000
Market Value as on April 30, 2023 (₹) 1,28,563 4,70,726 8,74,675 17,23,712
Scheme Returns (%) 13.75 18.34 15.12 11.35
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 18,41,400
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 12.81
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 18,47,635
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.89

HSBC Value Fund* Inception Date: 08 Jan 10

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1590000
Market Value as on April 30, 2023 (₹) 1,29,083 4,74,883 9,06,947 49,22,263
Scheme Returns (%) 14.60 18.97 16.60 15.80
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 39,44,001
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 12.83
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 38,58,688
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.54

HSBC Arbitrage Fund Inception Date: 30 Jun 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1060000
Market Value as on April 30, 2023 (₹) 1,23,799 3,85,319 6,73,751 13,34,656
Scheme Returns (%) 6.03 4.49 4.60 5.12
Nifty 50 Arbitrage Index - Scheme Benchmark (₹) 1,24,099 3,87,285 6,72,660 13,12,721
Nifty 50 Arbitrage Index - Scheme Benchmark Returns (%) 6.51 4.83 4.54 4.76
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 18,99,984
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.82

HSBC Balanced Advantage Fund* Inception Date: 07 Feb 11

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1460000
Market Value as on April 30, 2023 (₹) 1,24,732 3,96,241 7,19,411 26,13,577
Scheme Returns (%) 7.53 6.37 7.22 9.15
Nifty 50 Hybrid composite debt 50:50 Index - Scheme Benchmark (₹) 1,25,427 4,16,320 7,87,268 28,99,690
Nifty 50 Hybrid composite debt 50:50 Index - Scheme Benchmark Returns (%) 8.65 9.74 10.85 10.72
S&P BSE Sensex TRI - Additional Benchmark (₹) 1,26,050 4,46,632 8,60,190 34,34,167
S&P BSE Sensex TRI - Additional Benchmark Returns (%) 9.66 14.62 14.44 13.26

* Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.

53
 SIP Performance Equity Schemes - Regular Plan
HSBC Equity Savings Fund* Inception Date: 18 Oct 11
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1380000
Market Value as on April 30, 2023 (₹) 1,24,908 4,13,601 7,48,215 22,04,702
Scheme Returns (%) 7.81 9.29 8.80 7.85
NIFTY Equity Savings Index - Scheme Benchmark (₹) 1,24,675 4,07,231 7,47,827 23,67,579
NIFTY Equity Savings Index - Scheme Benchmark Returns (%) 7.44 8.23 8.78 9.01
CRISIL 10 Year Gilt Index - Additional Benchmark (₹) 1,26,059 3,80,494 6,79,547 19,84,734
CRISIL 10 Year Gilt Index - Additional Benchmark Returns (%) 9.67 3.65 4.94 6.13

HSBC ELSS Fund* Inception Date: 27 Feb 06

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 2060000
Market Value as on April 30, 2023 (₹) 1,25,325 4,29,191 7,95,168 66,21,236
Scheme Returns (%) 8.49 11.84 11.25 12.38
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 65,82,887
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 12.32
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 64,26,850
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.08

HSBC Nifty 50 Index Fund Inception Date: 15 Apr 20

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 NA 360000
Market Value as on April 30, 2023 (₹) 1,24,914 4,40,241 NA 4,40,241
Scheme Returns (%) 7.82 13.61 NA 13.61
Nifty 50 TRI - Scheme Benchmark (₹) 1,25,331 4,45,256 NA 4,45,256
Nifty 50 TRI - Scheme Benchmark Returns (%) 8.50 14.40 NA 14.40
S&P BSE Sensex TRI - Additional Benchmark (₹) 1,26,050 4,46,632 NA 4,46,632
S&P BSE Sensex TRI - Additional Benchmark Returns (%) 9.66 14.62 NA 14.62

HSBC Nifty Next 50 Index Fund Inception Date: 15 Apr 20

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 NA 360000
Market Value as on April 30, 2023 (₹) 1,16,800 3,99,585 NA 3,99,585
Scheme Returns (%) -4.99 6.94 NA 6.94
Nifty Next 50 TRI - Scheme Benchmark (₹) 1,17,439 4,06,932 NA 4,06,932
Nifty Next 50 TRI - Scheme Benchmark Returns (%) -4.00 8.18 NA 8.18
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 NA 4,45,256
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 NA 14.40

HSBC Tax Saver Equity Fund Inception Date: 05 Jan 07

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1950000
Market Value as on April 30, 2023 (₹) 1,21,510 4,26,797 7,99,533 56,19,838
Scheme Returns (%) 2.38 11.45 11.47 11.96
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 58,77,810
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 12.44
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 57,21,119
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.15

HSBC Global Equity Climate Change Fund of Fund Inception Date: 22 Mar 21
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 NA NA 250000
Market Value as on April 30, 2023 (₹) 1,26,577 NA NA 2,41,910
Scheme Returns (%) 10.53 NA NA -3.04
MSCI AC World Index TRI - Scheme Benchmark (₹) 1,29,642 NA NA 2,63,424
MSCI AC World Index TRI - Scheme Benchmark Returns (%) 15.55 NA NA 4.96
Nifty 50 TRI - Additional Benchmark (₹) 1,25,596 NA NA 2,70,210
Nifty 50 TRI - Additional Benchmark Returns (%) 8.94 NA NA 7.44

*Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.

54
 SIP Performance Equity Schemes - Regular Plan
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund Inception Date: 24 Feb 14
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1100000
Market Value as on April 30, 2023 (₹) 1,23,954 3,66,403 6,67,100 14,80,372
Scheme Returns (%) 6.30 1.16 4.21 6.34
MSCI AC Asia Pacific ex Japan TRI - Scheme Benchmark (₹) 1,23,555 3,56,504 6,60,886 14,97,715
MSCI AC Asia Pacific ex Japan TRI - Scheme Benchmark Returns (%) 5.66 -0.64 3.84 6.59
Nifty 50 TRI - Additional Benchmark (₹) 1,25,533 4,44,656 8,53,932 20,19,315
Nifty 50 TRI - Additional Benchmark Returns (%) 8.85 14.32 14.15 12.83

HSBC Brazil Fund Inception Date: 06 May 11

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1430000
Market Value as on April 30, 2023 (₹) 1,14,871 3,38,614 5,22,590 12,10,844
Scheme Returns (%) -7.98 -3.97 -5.44 -2.82
MSCI Brazil 10/40 Index TRI - Scheme Benchmark (₹) 1,21,084 3,87,721 6,39,291 18,08,542
MSCI Brazil 10/40 Index TRI - Scheme Benchmark Returns (%) 1.71 4.91 2.51 3.85
Nifty 50 TRI - Additional Benchmark (₹) 1,25,612 4,45,019 8,54,172 32,45,402
Nifty 50 TRI - Additional Benchmark Returns (%) 8.97 14.37 14.16 13.01

HSBC Global Emerging Markets Fund Inception Date: 17 Mar 08

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1810000
Market Value as on April 30, 2023 (₹) 1,15,267 3,23,202 5,95,021 24,97,233
Scheme Returns (%) -7.38 -6.93 -0.33 4.13
MSCI Emerging Markets Index TRI - Scheme Benchmark (₹) 1,22,961 3,50,309 6,39,076 30,85,516
MSCI Emerging Markets Index TRI - Scheme Benchmark Returns (%) 4.71 -1.78 2.50 6.73
Nifty 50 TRI - Additional Benchmark (₹) 1,25,533 4,44,538 8,53,617 50,61,534
Nifty 50 TRI - Additional Benchmark Returns (%) 8.85 14.31 14.14 12.59

HSBC Managed Solutions India – Growth Inception Date: 30 Apr 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1080000
Market Value as on April 30, 2023 (₹) 1,25,364 4,28,999 8,07,447 17,66,151
Scheme Returns (%) 8.55 11.81 11.87 10.63
Composite Index constituting 80% of S&P BSE 200 TRI Index and 20% of CRISIL
1,23,844 4,36,256 8,38,323 19,10,846
Composite Bond Fund Index - Scheme Benchmark (₹)
Composite Index constituting 80% of S&P BSE 200 TRI Index and 20% of CRISIL
6.10 12.98 13.39 12.30
Composite Bond Fund Index - Scheme Benchmark Returns (%)
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,230 8,55,047 19,57,458
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.20 12.81
CRISIL 10 Year Gilt Index - Additional Benchmark (₹) 1,26,059 3,80,519 6,79,630 14,05,457
CRISIL 10 Year Gilt Index - Additional Benchmark Returns (%) 9.67 3.66 4.95 5.74

HSBC Managed Solutions India – Moderate Inception Date: 30 Apr 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1080000
Market Value as on April 30, 2023 (₹) 1,25,071 4,18,422 7,79,583 16,88,340
Scheme Returns (%) 8.08 10.09 10.45 9.67
CRISIL Hybrid 35+65 - Aggressive Index - Scheme Benchmark (₹) 1,24,386 4,23,385 8,09,390 18,30,439
CRISIL Hybrid 35+65 - Aggressive Index - Scheme Benchmark Returns (%) 6.97 10.90 11.97 11.39
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,230 8,55,047 19,57,458
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.20 12.81
CRISIL 10 Year Gilt Index - Additional Benchmark (₹) 1,26,059 3,80,519 6,79,630 14,05,457
CRISIL 10 Year Gilt Index - Additional Benchmark Returns (%) 9.67 3.66 4.95 5.74

HSBC Managed Solutions India – Conservative Inception Date: 30 Apr 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1080000
Market Value as on April 30, 2023 (₹) 1,24,030 3,85,386 6,82,423 13,97,574
Scheme Returns (%) 6.40 4.51 5.11 5.62
Composite Index constituting 10% of S&P BSE 200 Index TRI and 90% of CRISIL
1,25,025 3,95,955 7,28,440 15,72,693
Composite Bond Fund Index - Scheme Benchmark (₹)
Composite Index constituting 10% of S&P BSE 200 Index TRI and 90% of CRISIL
8.00 6.33 7.72 8.15
Composite Bond Fund Index - Scheme Benchmark Returns (%)
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,230 8,55,047 19,57,458
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.20 12.81
CRISIL 10 Year Gilt Index - Additional Benchmark (₹) 1,26,059 3,80,519 6,79,630 14,05,457
CRISIL 10 Year Gilt Index - Additional Benchmark Returns (%) 9.67 3.66 4.95 5.74

55
 SIP Performance Equity Schemes - Direct Plan
HSBC Focused Fund& Inception Date: 22 Jul 20
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 NA NA 330000
Market Value as on April 30, 2023 (₹) 1,23,813 NA NA 3,68,988
Scheme Returns (%) 6.05 NA NA 8.13
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 NA NA 3,86,597
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 NA NA 11.63
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 NA NA 3,88,284
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 NA NA 11.96

HSBC Flexi Cap Fund& Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,27,089 4,45,622 8,36,287 23,72,939
Scheme Returns (%) 11.34 14.46 13.29 12.31
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 25,03,704
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 13.29
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 24,65,904
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.01

HSBC Large and Mid Cap Fund& Inception Date: 28 Mar 19

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 NA 490000
Market Value as on April 30, 2023 (₹) 1,26,497 4,43,367 NA 6,58,438
Scheme Returns (%) 10.38 14.10 NA 14.61
NIFTY Large Midcap 250 TRI - Scheme Benchmark (₹) 1,24,619 4,58,383 NA 6,97,387
NIFTY Large Midcap 250 TRI - Scheme Benchmark Returns (%) 7.35 16.45 NA 17.54
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 NA 6,62,505
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 NA 14.93

HSBC Large Cap Fund& Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,24,567 4,30,564 8,19,927 23,48,118
Scheme Returns (%) 7.27 12.06 12.49 12.12
Nifty 100 TRI - Scheme Benchmark (₹) 1,23,198 4,35,990 8,34,461 24,23,626
Nifty 100 TRI - Scheme Benchmark Returns (%) 5.07 12.93 13.20 12.70
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 24,65,904
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.01

HSBC Mid Cap Fund& Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,23,324 4,37,334 8,38,151 28,28,945
Scheme Returns (%) 5.27 13.14 13.38 15.51
NIFTY Midcap 150 TRI - Scheme Benchmark (₹) 1,26,001 4,81,546 9,61,932 30,87,103
NIFTY Midcap 150 TRI - Scheme Benchmark Returns (%) 9.58 19.97 19.02 17.08
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 24,65,904
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.01

HSBC Aggressive Hybrid Fund*& Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,24,770 4,16,296 7,76,238 22,49,705
Scheme Returns (%) 7.59 9.73 10.28 11.34
NIFTY 50 Hybrid Composite Debt 65:35 Index - Scheme Benchmark (₹) 1,25,416 4,24,777 8,08,879 22,67,479
NIFTY 50 Hybrid Composite Debt 65:35 Index - Scheme Benchmark Returns (%) 8.63 11.12 11.94 11.48
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 24,65,249
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.01

*Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.

56
 SIP Performance Equity Schemes - Direct Plan

HSBC Infrastructure Fund*& Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,33,083 5,22,141 9,61,766 28,94,558
Scheme Returns (%) 21.22 25.88 19.01 15.92
Nifty Infrastructure TRI - Scheme Benchmark (₹) 1,27,658 4,67,040 9,06,813 22,48,423
Nifty Infrastructure TRI - Scheme Benchmark Returns (%) 12.27 17.78 16.60 11.32
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 24,65,904
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.01

HSBC Small Cap Fund*& Inception Date: 12 May 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1070000
Market Value as on April 30, 2023 (₹) 1,30,586 5,55,202 10,85,652 24,50,203
Scheme Returns (%) 17.08 30.47 24.04 17.92
NIFTY Small Cap 250 TRI - Scheme Benchmark (₹) 1,24,451 4,84,639 9,47,706 19,41,699
NIFTY Small Cap 250 TRI - Scheme Benchmark Returns (%) 7.08 20.43 18.41 12.96
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 19,27,659
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.80

HSBC Business Cycles Fund* Inception Date: 20 Aug 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1040000
Market Value as on April 30, 2023 (₹) 1,29,312 4,79,447 8,99,981 18,02,118
Scheme Returns (%) 14.98 19.66 16.29 12.33
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 18,41,400
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 12.81
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 18,47,635
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.89

HSBC Value Fund* Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,29,769 4,82,887 9,32,058 29,96,800
Scheme Returns (%) 15.73 20.17 17.72 16.55
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 25,03,704
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 13.29
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 24,65,904
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.01

HSBC Arbitrage Fund Inception Date: 30 Jun 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1060000
Market Value as on April 30, 2023 (₹) 1,24,242 3,89,348 6,85,031 13,74,756
Scheme Returns (%) 6.74 5.19 5.26 5.78
Nifty 50 Arbitrage Index - Scheme Benchmark (₹) 1,24,099 3,87,285 6,72,660 13,12,721
Nifty 50 Arbitrage Index - Scheme Benchmark Returns (%) 6.51 4.83 4.54 4.76
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 18,99,984
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 12.82

HSBC Balanced Advantage Fund* Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,25,640 4,04,913 7,45,681 20,47,773
Scheme Returns (%) 8.99 7.84 8.66 9.61
Nifty 50 Hybrid composite debt 50:50 Index - Scheme Benchmark (₹) 1,25,427 4,16,320 7,87,268 21,70,888
Nifty 50 Hybrid composite debt 50:50 Index - Scheme Benchmark Returns (%) 8.65 9.74 10.85 10.68
S&P BSE Sensex TRI - Additional Benchmark (₹) 1,26,050 4,46,632 8,60,190 25,14,373
S&P BSE Sensex TRI - Additional Benchmark Returns (%) 9.66 14.62 14.44 13.37

* Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.
57
 SIP Performance Equity Schemes - Direct Plan

HSBC Equity Savings Fund* Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,25,508 4,19,607 7,66,515 19,50,944
Scheme Returns (%) 8.78 10.28 9.77 8.71
NIFTY Equity Savings Index - Scheme Benchmark (₹) 1,24,675 4,07,231 7,47,827 19,66,846
NIFTY Equity Savings Index - Scheme Benchmark Returns (%) 7.44 8.23 8.78 8.86
CRISIL 10 Year Gilt Index - Additional Benchmark (₹) 1,26,059 3,80,494 6,79,547 16,83,782
CRISIL 10 Year Gilt Index - Additional Benchmark Returns (%) 9.67 3.65 4.94 5.98

HSBC ELSS Fund* Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,25,869 4,34,737 8,10,912 23,70,833
Scheme Returns (%) 9.37 12.73 12.04 12.29
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 25,03,704
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 13.29
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 24,65,904
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.01

HSBC Nifty 50 Index Fund Inception Date: 15 Apr 20

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 NA 360000
Market Value as on April 30, 2023 (₹) 1,25,083 4,42,855 NA 4,42,855
Scheme Returns (%) 8.10 14.02 NA 14.02
Nifty 50 TRI - Scheme Benchmark (₹) 1,25,331 4,45,256 NA 4,45,256
Nifty 50 TRI - Scheme Benchmark Returns (%) 8.50 14.40 NA 14.40
S&P BSE Sensex TRI - Additional Benchmark (₹) 1,26,050 4,46,632 NA 4,46,632
S&P BSE Sensex TRI - Additional Benchmark Returns (%) 9.66 14.62 NA 14.62

HSBC Nifty Next 50 Index Fund Inception Date: 15 Apr 20

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 NA 360000
Market Value as on April 30, 2023 (₹) 1,17,076 4,02,601 NA 4,02,601
Scheme Returns (%) -4.57 7.45 NA 7.45
Nifty Next 50 TRI - Scheme Benchmark (₹) 1,17,439 4,06,932 NA 4,06,932
Nifty Next 50 TRI - Scheme Benchmark Returns (%) -4.00 8.18 NA 8.18
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 NA 4,45,256
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 NA 14.40

HSBC Tax Saver Equity Fund Inception Date: 01 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,22,284 4,35,822 8,27,210 23,91,104
Scheme Returns (%) 3.61 12.90 12.85 12.45
Nifty 500 TRI - Scheme Benchmark (₹) 1,23,741 4,45,130 8,58,334 25,03,704
Nifty 500 TRI - Scheme Benchmark Returns (%) 5.94 14.38 14.35 13.29
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,256 8,54,658 24,65,904
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.18 13.01

HSBC Global Equity Climate Change Fund of Fund Inception Date: 22 Mar 21
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 NA NA 250000
Market Value as on April 30, 2023 (₹) 1,27,100 NA NA 2,43,863
Scheme Returns (%) 11.38 NA NA -2.30
MSCI AC World Index TRI - Scheme Benchmark (₹) 1,29,642 NA NA 2,63,424
MSCI AC World Index TRI - Scheme Benchmark Returns (%) 15.55 NA NA 4.96
Nifty 50 TRI - Additional Benchmark (₹) 1,25,596 NA NA 2,70,210
Nifty 50 TRI - Additional Benchmark Returns (%) 8.94 NA NA 7.44

*Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.
58
 SIP Performance Equity Schemes - Direct Plan
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund Inception Date: 24 Feb 14
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1100000
Market Value as on April 30, 2023 (₹) 1,24,463 3,70,799 6,80,882 15,38,481
Scheme Returns (%) 7.12 1.94 5.02 7.15
MSCI AC Asia Pacific ex Japan TRI - Scheme Benchmark (₹) 1,23,555 3,56,504 6,60,886 14,97,715
MSCI AC Asia Pacific ex Japan TRI - Scheme Benchmark Returns (%) 5.66 -0.64 3.84 6.59
Nifty 50 TRI - Additional Benchmark (₹) 1,25,533 4,44,656 8,53,932 20,19,315
Nifty 50 TRI - Additional Benchmark Returns (%) 8.85 14.32 14.15 12.83

HSBC Brazil Fund Inception Date: 02 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,15,330 3,42,640 5,32,523 11,21,097
Scheme Returns (%) -7.28 -3.21 -4.70 -1.81
MSCI Brazil 10/40 Index TRI - Scheme Benchmark (₹) 1,21,084 3,87,721 6,39,291 15,45,521
MSCI Brazil 10/40 Index TRI - Scheme Benchmark Returns (%) 1.71 4.91 2.51 4.37
Nifty 50 TRI - Additional Benchmark (₹) 1,25,612 4,45,019 8,54,172 24,67,435
Nifty 50 TRI - Additional Benchmark Returns (%) 8.97 14.37 14.16 13.02

HSBC Global Emerging Markets Fund Inception Date: 02 Jan 13

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1230000
Market Value as on April 30, 2023 (₹) 1,15,692 3,26,723 6,06,482 15,32,358
Scheme Returns (%) -6.72 -6.25 0.43 4.21
MSCI Emerging Markets Index TRI - Scheme Benchmark (₹) 1,22,961 3,50,309 6,39,076 16,34,234
MSCI Emerging Markets Index TRI - Scheme Benchmark Returns (%) 4.71 -1.78 2.50 5.42
Nifty 50 TRI - Additional Benchmark (₹) 1,25,533 4,44,538 8,53,617 24,64,757
Nifty 50 TRI - Additional Benchmark Returns (%) 8.85 14.31 14.14 13.01

HSBC Managed Solutions India – Growth Inception Date: 30 Apr 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1080000
Market Value as on April 30, 2023 (₹) 1,25,747 4,32,068 8,16,337 17,98,305
Scheme Returns (%) 9.17 12.30 12.32 11.01
Composite Index constituting 80% of S&P BSE 200 TRI Index and 20% of CRISIL
1,23,844 4,36,256 8,38,323 19,10,846
Composite Bond Fund Index - Scheme Benchmark (₹)
Composite Index constituting 80% of S&P BSE 200 TRI Index and 20% of CRISIL
6.10 12.98 13.39 12.30
Composite Bond Fund Index - Scheme Benchmark Returns (%)
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,230 8,55,047 19,57,458
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.20 12.81
CRISIL 10 Year Gilt Index - Additional Benchmark (₹) 1,26,059 3,80,519 6,79,630 14,05,457
CRISIL 10 Year Gilt Index - Additional Benchmark Returns (%) 9.67 3.66 4.95 5.74

HSBC Managed Solutions India – Moderate Inception Date: 30 Apr 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1080000
Market Value as on April 30, 2023 (₹) 1,25,583 4,22,967 7,93,043 17,32,416
Scheme Returns (%) 8.90 10.83 11.14 10.22
CRISIL Hybrid 35+65 - Aggressive Index - Scheme Benchmark (₹) 1,24,386 4,23,385 8,09,390 18,30,439
CRISIL Hybrid 35+65 - Aggressive Index - Scheme Benchmark Returns (%) 6.97 10.90 11.97 11.39
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,230 8,55,047 19,57,458
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.20 12.81
CRISIL 10 Year Gilt Index - Additional Benchmark (₹) 1,26,059 3,80,519 6,79,630 14,05,457
CRISIL 10 Year Gilt Index - Additional Benchmark Returns (%) 9.67 3.66 4.95 5.74

HSBC Managed Solutions India – Conservative Inception Date: 30 Apr 14

Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since Inception
Total amount invested (₹) 120000 360000 600000 1080000
Market Value as on April 30, 2023 (₹) 1,24,536 3,89,970 6,95,772 14,38,589
Scheme Returns (%) 7.21 5.30 5.89 6.24
Composite Index constituting 10% of S&P BSE 200 Index TRI and 90% of CRISIL
1,25,025 3,95,955 7,28,440 15,72,693
Composite Bond Fund Index - Scheme Benchmark (₹)
Composite Index constituting 10% of S&P BSE 200 Index TRI and 90% of CRISIL
8.00 6.33 7.72 8.15
Composite Bond Fund Index - Scheme Benchmark Returns (%)
Nifty 50 TRI - Additional Benchmark (₹) 1,25,331 4,45,230 8,55,047 19,57,458
Nifty 50 TRI - Additional Benchmark Returns (%) 8.50 14.40 14.20 12.81
CRISIL 10 Year Gilt Index - Additional Benchmark (₹) 1,26,059 3,80,519 6,79,630 14,05,457
CRISIL 10 Year Gilt Index - Additional Benchmark Returns (%) 9.67 3.66 4.95 5.74
*Past performance may or may not be sustained in the future. SIP Return are calculated on XIRR basis.
IDCW are assumed to be reinvested and bonus is adjusted. Load is not taken into consideration; 59
For SIP returns, monthly investment of Rs. 10000 invested on the 1st day of every month has been considered.
 Comparative Performance of Equity Schemes
Fund Manager - Neelotpal Sahai Effective 29 Jul 2020. Total Schemes Managed - 4
Fund Manager - Ankur Arora Effective 26 Nov 2022. Total Schemes Managed - 3
HSBC Focused Fund - Regular Plan Inception Date: 22-Jul-20

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Focused Fund 10271 2.71 NA NA NA NA 15250 16.47

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 NA NA NA NA 17300 21.91

Additional Benchmark (Nifty 50 TRI) 10689 6.91 NA NA NA NA 16729 20.44

HSBC Focused Fund - Direct Plan Inception Date: 22-Jul-20

HSBC Focused Fund 10373 3.74 NA NA NA NA 15556 17.32

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 NA NA NA NA 17300 21.91

Additional Benchmark (Nifty 50 TRI) 10689 6.91 NA NA NA NA 16729 20.44

Fund Manager - Vihang Shankar Naik Effective 26 Nov 2022. Total Schemes Managed - 4
Fund Manager - Venugopal Manghat Effective 26 Nov 2022. Total Schemes Managed - 6
HSBC Flexi Cap Fund - Regular Plan Inception Date: 24-Feb-04

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Flexi Cap Fund 10712 7.14 18274 22.30 14721 8.05 161318 15.60

Scheme Benchmark (NIFTY 500 TRI) 10404 4.05 19585 25.17 16949 11.14 133111 14.44
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 126688 14.15

HSBC Flexi Cap Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Flexi Cap Fund 10813 8.15 18710 23.27 15305 8.89 35564 13.07

Scheme Benchmark (NIFTY 500 TRI) 10404 4.05 19585 25.17 16949 11.14 35710 13.12

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34379 12.70

Fund Manager - Cheenu Gupta Effective 26 Nov 2022. Total Schemes Managed - 7
Fund Manager - Neelotpal Sahai Effective 28 Mar 2019. Total Schemes Managed - 4
HSBC Large and Mid Cap Fund - Regular Plan Inception Date: 28-Mar-19

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Large and Mid Cap Fund 10566 5.67 18033 21.76 NA NA 15648 11.58

Scheme Benchmark (NIFTY Large Midcap 250 TRI) 10561 5.63 21002 28.12 NA NA 17593 14.82
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 NA NA 16366 12.81

HSBC Large and Mid Cap Fund - Direct Plan Inception Date: 28-Mar-19

HSBC Large and Mid Cap Fund 10730 7.32 18335 22.44 NA NA 16095 12.35

Scheme Benchmark (NIFTY Large Midcap 250 TRI) 10561 5.63 21002 28.12 NA NA 17593 14.82

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 NA NA 16366 12.81

Fund Manager - Neelotpal Sahai Effective 27 May 2013. Total Schemes Managed - 4
Fund Manager - Ankur Arora Effective 26 Nov 2022. Total Schemes Managed - 3
HSBC Large Cap Fund - Regular Plan Inception Date: 10-Dec-02

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Large Cap Fund 10549 5.50 17143 19.72 15518 9.19 338424 18.85

Scheme Benchmark (Nifty 100 TRI) 10371 3.72 18476 22.75 17031 11.24 NA NA
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 223180 16.45

HSBC Large Cap Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Large Cap Fund 10653 6.55 17658 20.91 16242 10.19 33140 12.30

Scheme Benchmark (Nifty 100 TRI) 10371 3.72 18476 22.75 17031 11.24 34488 12.74

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34379 12.70

60
 Comparative Performance of Equity Schemes
Fund Manager - Vihang Shankar Naik Effective 28 Jun 2016. Total Schemes Managed - 4
Fund Manager - Cheenu Gupta Effective 26 Nov 2022. Total Schemes Managed - 7
HSBC Mid cap Fund - Regular Plan Inception Date: 09-Aug-04

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Mid Cap Fund 10200 2.00 18516 22.84 13889 6.79 206503 17.55

Scheme Benchmark (Nifty Midcap 150 TRI) 10744 7.46 23780 33.55 17632 12.02 NA NA
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 139130 15.09

HSBC Mid Cap Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Mid Cap Fund 10377 3.78 19270 24.49 14779 8.13 53500 17.63

Scheme Benchmark (Nifty Midcap 150 TRI) 10744 7.46 23780 33.55 17632 12.02 49395 16.73

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34379 12.70

Fund Manager - Cheenu Gupta Effective 02 Jul 2021. Total Schemes Managed - 7
Fund Manager - Shriram Ramanathan Effective 30 May 2016. Total Schemes Managed - 11
HSBC Aggressive Hybrid Fund* - Regular Plan Inception Date: 07-Feb-11

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Aggressive Hybrid Fund 10268 2.69 15673 16.19 13856 6.74 37218 11.35
Scheme Benchmark (NIFTY 50 Hybrid Composite Debt 65:35
10682 6.84 16225 17.54 17034 11.25 35105 10.82
Index)
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 38829 11.73

HSBC Aggressive Hybrid Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Aggressive Hybrid Fund 10372 3.73 16178 17.43 14535 7.77 35695 13.11
Scheme Benchmark (NIFTY 50 Hybrid Composite Debt 65:35
10682 6.84 16225 17.54 17034 11.25 30358 11.35
Index)
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34379 12.70

Fund Manager - Venugopal Manghat Effective 17 Dec 2019. Total Schemes Managed - 6
Fund Manager - Gautam Bhupal Effective 26 Nov 2022. Total Schemes Managed - 6
HSBC Infrastructure Fund* - Regular Plan Inception Date: 27-Sep-07

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Infrastructure Fund 11566 15.70 23878 33.73 14968 8.41 27314 6.66

Scheme Benchmark (Nifty Infrastructure TRI) 10531 5.32 20259 26.59 16602 10.68 14503 2.41
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 43341 9.86

HSBC Infrastructure Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Infrastructure Fund 11508 15.12 24203 34.33 15767 9.54 41919 14.89

Scheme Benchmark (Nifty Infrastructure TRI) 10531 5.32 20259 26.59 16602 10.68 23883 8.80

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34379 12.70

Fund Manager - Venugopal Manghat Effective 17 Dec 2019. Total Schemes Managed - 6
Fund Manager - Vihang Shankar Naik Effective 17 Dec 2019. Total Schemes Managed - 4
HSBC Small Cap Fund* - Regular Plan Inception Date: 12-May-14

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Small Cap Fund 11001 10.04 29380 43.32 17093 11.32 46698 18.75

Scheme Benchmark (NIFTY Small Cap 250 TRI) 9987 -0.13 26649 38.72 14734 8.06 35184 15.06
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 28764 12.50

HSBC Small Cap Fund - Direct Plan Inception Date: 12-May-14

HSBC Small Cap Fund 11133 11.36 30440 45.03 18103 12.61 50126 19.69

Scheme Benchmark (NIFTY Small Cap 250 TRI) 9987 -0.13 26649 38.72 14734 8.06 35184 15.06

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 28764 12.50

* Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.

61
 Comparative Performance of Equity Schemes
Fund Manager - Ankur Arora Effective 26 Nov 2022. Total Schemes Managed - 3
Fund Manager - Venugopal Manghat Effective 20 Aug 2014. Total Schemes Managed - 6
HSBC Business Cycles Fund* - Regular Plan Inception Date: 20-Aug-14

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Business Cycles Fund 11114 11.17 20659 27.42 14576 7.83 25037 11.13

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 19585 25.17 16949 11.14 26487 11.86
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 25413 11.33

HSBC Business Cycles Fund - Direct Plan Inception Date: 20-Aug-14

HSBC Business Cycles Fund 11233 12.37 21316 28.76 15289 8.87 26899 12.06

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 19585 25.17 16949 11.14 26487 11.86

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 25413 11.33

Fund Manager - Venugopal Manghat Effective 24 Nov 2012. Total Schemes Managed - 6
Fund Manager - Vihang Shankar Naik Effective 17 Dec 2019. Total Schemes Managed - 4
HSBC Value Fund* - Regular Plan Inception Date: 08-Jan-10

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Value Fund 10986 9.89 21604 29.34 16232 10.18 62268 14.73

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 19585 25.17 16949 11.14 40098 11.00
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 40396 11.06

HSBC Value Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Value Fund 11093 10.96 22237 30.59 17029 11.24 55416 18.04

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 19585 25.17 16949 11.14 35710 13.12

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34379 12.70

Fund Manager - Praveen Ayathan Effective 30 Jun 2014. Total Schemes Managed - 3
Fund Manager - Ritesh Jain Effective 26 Nov 2022. Total Schemes Managed - 6
HSBC Arbitrage Fund - Regular Plan Inception Date: 30-Jun-14

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Arbitrage Fund 10500 5.02 11278 4.10 12733 4.95 16348 5.72

Scheme Benchmark (Nifty 50 Arbitrage Index) 10551 5.53 11216 3.91 12542 4.64 15795 5.31
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 26392 11.61

HSBC Arbitrage Fund - Direct Plan Inception Date: 30-Jun-14

HSBC Arbitrage Fund 10571 5.73 11498 4.77 13126 5.59 17249 6.37

Scheme Benchmark (Nifty 50 Arbitrage Index) 10551 5.53 11216 3.91 12542 4.64 15795 5.31

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 26392 11.61

Fund Manager - Neelotpal Sahai Effective 26 Nov 2022. Total Schemes Managed - 4
Fund Manager - Ritesh Jain Effective 26 Nov 2022. Total Schemes Managed - 6
HSBC Balanced Advantage Fund* - Regular Plan Inception Date: 07-Feb-11

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Balanced Advantage Fund 10506 5.08 13209 9.74 13792 6.65 32254 10.05
Scheme Benchmark (Nifty 50 Hybrid composite debt 50:50
10673 6.75 15145 14.87 16546 10.60 33130 10.29
Index)
Additional Benchmark (S&P BSE Sensex TRI) 10848 8.51 18753 23.36 18434 13.02 39918 11.99

HSBC Balanced Advantage Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Balanced Advantage Fund 10649 6.51 13752 11.23 14698 8.01 30163 11.28
Scheme Benchmark (Nifty 50 Hybrid composite debt 50:50
10673 6.75 15145 14.87 16546 10.60 28439 10.65
Index)
Additional Benchmark (S&P BSE Sensex TRI) 10848 8.51 18753 23.36 18434 13.02 35657 13.10

* Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.

62
 Comparative Performance of Equity Schemes
Fund Manager - Cheenu Gupta Effective 02 Jul 2021. Total Schemes Managed - 7
Fund Manager - Ritesh Jain Effective 26 Nov 2022. Total Schemes Managed - 6
HSBC Equity Savings Fund* - Regular Plan Inception Date: 18-Oct-11

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Equity Savings Fund 10479 4.81 15063 14.66 13838 6.72 24195 7.96

Scheme Benchmark (NIFTY Equity Savings Index) 10615 6.17 13839 11.46 15074 8.56 28333 9.45
Additional Benchmark (CRISIL 10 Year Gilt Index) 10701 7.03 10952 3.08 13753 6.58 21298 6.77

HSBC Equity Savings Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Equity Savings Fund 10573 5.75 15467 15.68 14460 7.66 23754 8.74

Scheme Benchmark (NIFTY Equity Savings Index) 10615 6.17 13839 11.46 15074 8.56 24713 9.16

Additional Benchmark (CRISIL 10 Year Gilt Index) 10701 7.03 10952 3.08 13753 6.58 18834 6.32

Fund Manager - Cheenu Gupta Effective 02 Jul 2021. Total Schemes Managed - 7
Fund Manager - Gautam Bhupal Effective 26 Nov 2022. Total Schemes Managed - 6
HSBC ELSS Fund* - Regular Plan Inception Date: 27-Feb-06

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC ELSS Fund 10458 4.59 17906 21.48 13956 6.90 80499 12.91

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 19585 25.17 16949 11.14 70007 12.00
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 72443 12.22

HSBC ELSS Fund - Direct Plan Inception Date: 01-Jan-13

HSBC ELSS Fund 10542 5.43 18304 22.37 14429 7.61 36451 13.34

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 19585 25.17 16949 11.14 35710 13.12

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34379 12.70

Fund Manager - Praveen Ayathan Effective 15 Apr 2020. Total Schemes Managed - 3

HSBC Nifty 50 Index Fund - Regular Plan Inception Date: 15-Apr-20

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Nifty 50 Index Fund 10624 6.26 18520 22.85 NA NA 20426 26.53

Scheme Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 NA NA 20930 27.55
Additional Benchmark (S&P BSE Sensex TRI) 10848 8.51 18753 23.36 NA NA 20813 27.31

HSBC Nifty 50 Index Fund - Direct Plan Inception Date: 15-Apr-20

HSBC Nifty 50 Index Fund 10653 6.55 18732 23.32 NA NA 20665 27.01

Scheme Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 NA NA 20930 27.55

Additional Benchmark (S&P BSE Sensex TRI) 10848 8.51 18753 23.36 NA NA 20813 27.31

Fund Manager - Praveen Ayathan Effective 15 Apr 2020. Total Schemes Managed - 3

HSBC Nifty Next 50 Index Fund - Regular Plan Inception Date: 15-Apr-20

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Nifty Next 50 Index Fund 9258 -7.44 16281 17.68 NA NA 16994 19.09

Scheme Benchmark (Nifty Next 50 TRI) 9359 -6.43 16810 18.94 NA NA 17577 20.42
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 NA NA 20930 27.55

HSBC Nifty Next 50 Index Fund - Direct Plan Inception Date: 15-Apr-20

HSBC Nifty Next 50 Index Fund 9299 -7.03 16502 18.21 NA NA 17228 19.63

Scheme Benchmark (Nifty Next 50 TRI) 9359 -6.43 16810 18.94 NA NA 17577 20.42

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 NA NA 20930 27.55

*Note - Mr. Sonal Gupta shall be dedicated fund manager for investments in foreign securities by all the schemes of HSBC Mutual Fund.

63
 Comparative Performance of Equity Schemes
Fund Manager - Gautam Bhupal Effective 23 Jul 2019. Total Schemes Managed - 6
Fund Manager - Cheenu Gupta Effective 26 Nov 2022. Total Schemes Managed - 7
HSBC Tax Saver Equity Fund - Regular Plan Inception Date: 05-Jan-07

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Tax Saver Equity Fund 10140 1.40 17984 21.65 14418 7.60 55476 11.07

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 19585 25.17 16949 11.14 55227 11.04
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 55039 11.02

HSBC Tax Saver Equity Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Tax Saver Equity Fund 10263 2.63 18666 23.17 15264 8.83 35995 13.21

Scheme Benchmark (Nifty 500 TRI) 10404 4.05 19585 25.17 16949 11.14 35710 13.12

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34379 12.70

Fund Manager - Sonal Gupta Effective 02 Dec 2022. Total Schemes Managed - 5
Fund Manager - Kapil Lal Punjabi Effective 22 Mar 2021. Total Schemes Managed - 9
HSBC Global Equity Climate Change Fund of Fund
Inception Date: 22-Mar-21
- Regular Plan
1 Year 3 Years 5 Years Since Inception
Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Global Equity Climate Change Fund of Fund 10259 2.60 NA NA NA NA 9055 -4.62

Scheme Benchmark (MSCI AC World TRI) 10898 9.01 NA NA NA NA 11372 6.31

Additional Benchmark (Nifty 50 TRI) 10689 6.91 NA NA NA NA 12557 11.44

HSBC Global Equity Climate Change Fund of Fund - Direct Plan Inception Date: 22-Mar-21

HSBC Global Equity Climate Change Fund of Fund 10339 3.40 NA NA NA NA 9206 -3.86

Scheme Benchmark (MSCI AC World Index TRI) 10898 9.01 NA NA NA NA 11372 6.31

Additional Benchmark (Nifty 50 TRI) 10689 6.91 NA NA NA NA 12557 11.44

Fund Manager - Sonal Gupta Effective 02 Dec 2022. Total Schemes Managed - 5

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund Inception Date: 24-Feb-14

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund 9839 -1.62 12515 7.77 12491 4.55 17787 6.48

Scheme Benchmark (MSCI AC Asia Pacific ex Japan TRI) 10097 0.97 12652 8.17 12581 4.70 18880 7.17
Additional Benchmark (Nifty 50 TRI) 10689 6.91 19552 25.07 17865 12.31 32635 13.75

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund - Direct Plan Inception Date: 24-Feb-14

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund 9915 -0.86 12807 8.60 12967 5.34 19016 7.25

Scheme Benchmark (MSCI AC Asia Pacific ex Japan TRI) 10097 0.97 12652 8.17 12581 4.70 18880 7.17

Additional Benchmark (Nifty 50 TRI) 10689 6.91 19552 25.07 17865 12.31 32635 13.75

Fund Manager - Sonal Gupta Effective 02 Dec 2022. Total Schemes Managed - 5

HSBC Brazil Fund - Regular Plan Inception Date: 06-May-11

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Brazil Fund 9205 -7.97 11246 4.00 7438 -5.75 6171 -3.95

Scheme Benchmark (MSCI Brazil 10/40 Index TRI) 10208 2.09 14479 13.16 10686 1.34 12662 1.99
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 37682 11.70

HSBC Brazil Fund - Direct Plan Inception Date: 02-Jan-13

HSBC Brazil Fund 9275 -7.27 11512 4.82 7730 -5.02 6648 -3.88

Scheme Benchmark (MSCI Brazil 10/40 Index TRI) 10208 2.09 14479 13.16 10686 1.34 12368 2.08

Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17865 12.31 34136 12.63

64
 Comparative Performance of Equity Schemes

Fund Manager - Sonal Gupta Effective 02 Dec 2022. Total Schemes Managed - 5

HSBC Global Emerging Markets Fund - Regular Plan Inception Date: 17-Mar-08

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Global Emerging Markets Fund 9013 -9.90 11364 4.36 10676 1.32 15865 3.10
Scheme Benchmark (MSCI Emerging Markets Index TRI) 9982 -0.18 12388 7.41 11638 3.08 26997 6.79
Additional Benchmark (Nifty 50 TRI) 10689 6.91 19552 25.07 17865 12.31 47988 10.93
HSBC Global Emerging Markets Fund - Direct Plan Inception Date: 02-Jan-13
HSBC Global Emerging Markets Fund 9076 -9.26 11610 5.11 11062 2.04 15112 4.08
Scheme Benchmark (MSCI Emerging Markets Index TRI) 9982 -0.18 12388 7.41 11638 3.08 17466 5.55
Additional Benchmark (Nifty 50 TRI) 10689 6.91 19552 25.07 17865 12.31 34136 12.63

Fund Manager - Gautam Bhupal Effective 21 Oct 2015. Total Schemes Managed - 6

HSBC Managed Solutions India – Growth - Regular Plan Inception Date: 30-Apr-14

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Managed Solutions India – Growth 10580 5.81 17507 20.56 15123 8.62 27470 11.88
Scheme Benchmark (Composite Index constituting 80% of S&P
BSE 200 TRI Index and 20% of CRISIL Composite Bond Fund 10464 4.65 18176 22.08 17134 11.36 30537 13.21
Index)
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17943 12.39 30129 13.04
Additional Benchmark (CRISIL 10 Year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18505 7.08
HSBC Managed Solutions India – Growth - Direct Plan Inception Date: 30-Apr-14
HSBC Managed Solutions India – Growth 10631 6.32 17716 21.04 15399 9.01 28274 12.24
Scheme Benchmark (Composite Index constituting 80% of S&P
BSE 200 TRI Index and 20% of CRISIL Composite Bond Fund 10464 4.65 18176 22.08 17134 11.36 30537 13.21
Index)
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17943 12.39 30129 13.04
Additional Benchmark (CRISIL 10 Year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18505 7.08

Fund Manager - Gautam Bhupal Effective 21 Oct 2015. Total Schemes Managed - 6

HSBC Managed Solutions India – Moderate - Regular Plan Inception Date: 30-Apr-14

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Managed Solutions India – Moderate 10551 5.53 16057 17.13 14716 8.02 25129 10.78
Scheme Benchmark (CRISIL Hybrid 35+65 - Aggressive Fund
10529 5.31 16368 17.89 16774 10.89 28457 12.32
Index)
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17943 12.39 30129 13.04
Additional Benchmark (CRISIL 10 Year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18505 7.08
HSBC Managed Solutions India – Moderate - Direct Plan Inception Date: 30-Apr-14
HSBC Managed Solutions India – Moderate 10624 6.26 16361 17.87 15130 8.62 26094 11.25
Scheme Benchmark (CRISIL Hybrid 35+65 - Aggressive Fund
10529 5.31 16368 17.89 16774 10.89 28457 12.32
Index)
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17943 12.39 30129 13.04
Additional Benchmark (CRISIL 10 Year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18505 7.08

Fund Manager - Gautam Bhupal Effective 21 Oct 2015. Total Schemes Managed - 6

HSBC Managed Solutions India – Conservative - Regular Plan Inception Date: 30-Apr-14

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Managed Solutions India – Conservative 10464 4.65 11698 5.38 13065 5.49 18148 6.85
Scheme Benchmark (Composite Index constituting 10% of S&P BSE
10581 5.82 12756 8.47 14942 8.35 22033 9.17
200 Index TRI and 90% of CRISIL Composite Bond Fund Index)
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17943 12.39 30129 13.04
Additional Benchmark (CRISIL 10 Year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18505 7.08
HSBC Managed Solutions India – Conservative - Direct Plan Inception Date: 30-Apr-14
HSBC Managed Solutions India – Conservative 10544 5.45 11964 6.17 13498 6.18 18938 7.35
Scheme Benchmark (Composite Index constituting 10% of S&P BSE
10581 5.82 12756 8.47 14942 8.35 22033 9.17
200 Index TRI and 90% of CRISIL Composite Bond Fund Index)
Additional Benchmark (Nifty 50 TRI) 10689 6.91 18945 23.78 17943 12.39 30129 13.04
Additional Benchmark (CRISIL 10 Year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18505 7.08

65
 Comparative Performance of Debt Schemes
Fund Manager - Kapil Lal Punjabi Effective 14 May 2014. Total Schemes Managed - 9
Fund Manager - Shriram Ramanathan Effective 26 Nov 2022. Total Schemes Managed - 11
HSBC Liquid Fund
Inception Date: 04-Dec-02
- Regular Plan
7 Days 15 Days 30 Days 1 Year 3 Years 5 Years Since Inception
Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%) in ` (%) in ` (%) in ` (%)

HSBC Liquid Fund 10011 5.96 10025 6.14 10,057 7.36 10591 5.95 11316 4.22 12897 5.21 22537 7.04
Scheme Benchmark (Nifty
10011 6.12 10026 6.55 10,060 7.78 10613 6.17 11390 4.44 12970 5.33 22795 7.14
Liquid Index B-I)
Additional Benchmark (CRIS-
10015 8.41 10027 6.73 10,081 10.69 10498 5.01 11287 4.12 13138 5.60 21366 6.56
IL 1 Year T Bill Index)
HSBC Liquid Fund - Direct
Inception Date: 01-Jan-13
Plan
HSBC Liquid Fund 10,011 6.06 10,025 6.24 10,057 7.46 10600 6.03 11341 4.29 12940 5.28 19667 6.77
Scheme Benchmark (Nifty
10,011 6.12 10,026 6.55 10,060 7.78 10613 6.17 11390 4.44 12970 5.33 19648 6.76
Liquid Index B-I)
Additional Benchmark (CRIS-
10,015 8.41 10,027 6.73 10,081 10.69 10498 5.01 11287 4.12 13138 5.60 18925 6.37
IL 1 Year T Bill Index)

Fund Manager - Ritesh Jain Effective 26 Nov 2022. Total Schemes Managed - 6
Fund Manager - Kapil Lal Punjabi Effective 31 Mar 2022. Total Schemes Managed - 9
HSBC CRISIL IBX 50-50 Gilt Plus Apr 2028 Index Fund - Regular
Inception Date: 31-Mar-22
Plan
1 Year 3 Years 5 Years Since Inception
Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC CRISIL IBX 50-50 Gilt Plus Apr 2028 Index Fund 10586 5.88 NA NA NA NA 10529 4.90
Scheme Benchmark (CRISIL IBX 50:50 Gilt Plus SDL Index - April
10650 6.51 NA NA NA NA 10546 5.06
2028)
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 NA NA NA NA 10525 4.87
HSBC CRISIL IBX 50-50 Gilt Plus Apr 2028 Index Fund - Direct Plan Inception Date: 31-Mar-22
HSBC CRISIL IBX 50-50 Gilt Plus Apr 2028 Index Fund 10608 6.10 NA NA NA NA 10552 5.12
Scheme Benchmark (CRISIL IBX 50:50 Gilt Plus SDL Index - April
10650 6.51 NA NA NA NA 10546 5.06
2028)
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 NA NA NA NA 10525 4.87

Fund Manager - Jalpan Shah Effective 26 Nov 2022. Total Schemes Managed - 7
Fund Manager - Shriram Ramanathan Effective 26 Nov 2022. Total Schemes Managed - 11
HSBC Medium to Long Duration Fund - Regular Plan Inception Date: 10-Dec-02

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Medium to Long Duration Fund 10462 4.63 11024 3.31 13357 5.95 36498 6.55
Scheme Benchmark (NIFTY Medium to Long Duration Debt
10784 7.86 12778 8.53 14561 7.80 43243 7.44
Index B-III)
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 32434 5.94

HSBC Medium to Long Duration Fund - Direct Plan Inception Date: 07-Jan-13

HSBC Medium to Long Duration Fund 10563 5.64 11318 4.22 13931 6.85 19802 6.85
Scheme Benchmark (NIFTY Medium to Long Duration Debt
10784 7.86 12778 8.53 14561 7.80 22281 8.08
Index B-III)
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18695 6.26

Fund Manager - Ritesh Jain Effective 26 Nov 2022. Total Schemes Managed - 6
Fund Manager - Cheenu Gupta Effective 26 Nov 2022. Total Schemes Managed - 7
HSBC Conservative Hybrid Fund - Regular Plan Inception Date: 24-Feb-04

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Conservative Hybrid Fund 10445 4.46 12563 7.92 13596 6.33 46097 8.29
Scheme Benchmark (NIFTY 50 Hybrid Composite Debt 15:85
10635 6.37 12820 8.65 15189 8.71 46501 8.34
Index)
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 28228 5.56

HSBC Conservative Hybrid Fund - Direct Plan Inception Date: 11-Jan-13

HSBC Conservative Hybrid Fund 10477 4.79 12807 8.61 14127 7.15 22351 8.12
Scheme Benchmark (NIFTY 50 Hybrid Composite Debt 15:85
10635 6.37 12820 8.65 15189 8.71 23578 8.69
Index)
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18639 6.23

66
 Comparative Performance of Debt Schemes
Fund Manager - Kapil Lal Punjabi Effective 22 May 2019. Total Schemes Managed - 9
Fund Manager - Mahesh Chhabria Effective 26 Nov 2022. Total Schemes Managed - 4
HSBC Overnight Fund - Regular Plan Inception Date: 22-May-19

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Overnight Fund 10556 5.59 11219 3.92 NA NA 11668 4.00

Scheme Benchmark (NIFTY 1D Rate Index) 10575 5.77 11275 4.09 NA NA 11795 4.28
Additional Benchmark (CRISIL 1 Year T Bill Index) 10498 5.01 11287 4.12 NA NA 12179 5.13

HSBC Overnight Fund - Direct Plan Inception Date: 22-May-19

HSBC Overnight Fund 10568 5.71 11256 4.03 NA NA 11777 4.24

Scheme Benchmark (NIFTY 1D Rate Index) 10575 5.77 11275 4.09 NA NA 11795 4.28

Additional Benchmark (CRISIL 1 Year T Bill Index) 10498 5.01 11287 4.12 NA NA 12179 5.13

Fund Manager - Mahesh Chhabria Effective 26 Nov 2022. Total Schemes Managed - 4
Fund Manager - Jalpan Shah Effective 26 Nov 2022. Total Schemes Managed - 7
HSBC Ultra Short Duration Fund - Regular Plan Inception Date: 30-Jan-20

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Ultra Short Duration Fund 10565 5.66 11428 4.56 NA NA 11612 4.71

Scheme Benchmark (NIFTY Ultra Short Duration Debt Index B-I) 10630 6.32 11630 5.17 NA NA 11824 5.30
Additional Benchmark (NIFTY Ultra Short Duration Debt Index) 10641 6.43 11590 5.05 NA NA 11779 5.17
Additional Benchmark (CRISIL 1 Year T Bill Index) 10499 5.01 11287 4.12 NA NA 11611 4.71

HSBC Ultra Short Duration Fund - Direct Plan Inception Date: 29-Jan-20

HSBC Ultra Short Duration Fund 10590 5.92 11500 4.78 NA NA 11699 4.95

Scheme Benchmark (NIFTY Ultra Short Duration Debt Index B-I) 10630 6.32 11630 5.17 NA NA 11824 5.30

Additional Benchmark (NIFTY Ultra Short Duration Debt Index) 10641 6.43 11590 5.05 NA NA 11779 5.17

Additional Benchmark (CRISIL 1 Year T Bill Index) 10499 5.01 11287 4.12 NA NA 11611 4.71

Fund Manager - Jalpan Shah Effective 30 May 2016. Total Schemes Managed - 7
Fund Manager - Shriram Ramanathan Effective 02 Feb 2015. Total Schemes Managed - 11
HSBC Dynamic Bond Fund - Regular Plan Inception Date: 27-Sep-10

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Dynamic Bond Fund 10453 4.54 11359 4.35 13676 6.45 25277 7.64

Scheme Benchmark (NIFTY Composite Debt Index A-III) 10562 5.63 11782 5.63 14369 7.51 25332 7.66
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 21681 6.34
HSBC Dynamic Bond Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Dynamic Bond Fund 10518 5.20 11505 4.79 14062 7.05 22252 8.05

Scheme Benchmark (NIFTY Composite Debt Index A-III) 10562 5.63 11782 5.63 14369 7.51 21422 7.66

Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18834 6.32

Fund Manager - Mahesh Chhabria Effective 26 Nov 2022. Total Schemes Managed - 4
Fund Manager - Jalpan Shah Effective 30 May 2016. Total Schemes Managed - 7
HSBC Banking and PSU Debt Fund - Regular Plan Inception Date: 12-Sep-12

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Banking and PSU Debt Fund 10422 4.23 11538 4.89 13584 6.31 20822 7.14

Scheme Benchmark (NIFTY Banking & PSU Debt Index) 10524 5.26 11793 5.66 13941 6.86 21785 7.60
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 19556 6.51
HSBC Banking and PSU Debt Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Banking and PSU Debt Fund 10461 4.62 11673 5.30 13856 6.73 21217 7.56

Scheme Benchmark (NIFTY Banking & PSU Debt Index) 10524 5.26 11793 5.66 13941 6.86 21153 7.53

Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18834 6.32

67
 Comparative Performance of Debt Schemes
Fund Manager - Shriram Ramanathan Effective 24 Nov 2012. Total Schemes Managed - 11
Fund Manager - Mahesh Chhabria Effective 26 Nov 2022. Total Schemes Managed - 4
HSBC Low Duration Fund - Regular Plan Inception Date: 04-Dec-10

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Low Duration Fund 10517 5.19 11798 5.68 12827 5.10 23623 7.18

Scheme Benchmark (NIFTY Low Duration Debt Index B-I) 10601 6.03 11755 5.55 13620 6.37 25237 7.75
Additional Benchmark (CRISIL 1 Year T Bill Index) 10499 5.01 11287 4.12 13138 5.60 21851 6.50
HSBC Low Duration Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Low Duration Fund 10574 5.76 12204 6.88 13438 6.08 20885 7.39

Scheme Benchmark (NIFTY Low Duration Debt Index B-I) 10601 6.03 11755 5.55 13620 6.37 20903 7.40

Additional Benchmark (CRISIL 1 Year T Bill Index) 10499 5.01 11287 4.12 13138 5.60 18925 6.37

Fund Manager - Jalpan Shah Effective 03 Apr 2017. Total Schemes Managed - 7
Fund Manager - Shriram Ramanathan Effective 30 Jun 2014. Total Schemes Managed - 11
HSBC Corporate Bond Fund - Regular Plan Inception Date: 31-Mar-97

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Corporate Bond Fund 10574 5.76 11816 5.73 14507 7.72 62375 7.27

Scheme Benchmark (NIFTY Corporate Bond Index B-III) 10583 5.85 12305 7.17 14402 7.56 NA NA
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 NA NA
HSBC Corporate Bond Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Corporate Bond Fund 10610 6.12 11936 6.09 14746 8.07 21502 7.70

Scheme Benchmark (NIFTY Corporate Bond Index B-III) 10583 5.85 12305 7.17 14402 7.56 22335 8.09

Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18834 6.32

Fund Manager - Kapil Lal Punjabi Effective 26 Nov 2022. Total Schemes Managed - 9
Fund Manager - Shriram Ramanathan Effective 21 Mar 2020. Total Schemes Managed - 11
HSBC Money Market Fund - Regular Plan Inception Date: 10-Aug-05

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Money Market Fund 10530 5.31 11299 4.16 13114 5.56 33910 7.13

Scheme Benchmark (Nifty Money Market Index B-I) 10599 6.01 11444 4.61 13127 5.59 35583 7.42
Additional Benchmark (CRISIL 1 Year T Bill Index) 10499 5.01 11287 4.12 13138 5.60 28196 6.02
HSBC Money Market Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Money Market Fund 10576 5.78 11457 4.65 13426 6.06 20997 7.45

Scheme Benchmark (Nifty Money Market Index B-I) 10599 6.01 11444 4.61 13127 5.59 19999 6.94

Additional Benchmark (CRISIL 1 Year T Bill Index) 10499 5.01 11287 4.12 13138 5.60 18925 6.37

Fund Manager - Shriram Ramanathan Effective 24 Nov 2012. Total Schemes Managed - 11
Fund Manager - Kapil Lal Punjabi Effective 26 Nov 2022. Total Schemes Managed - 9
HSBC Credit Risk Fund - Regular Plan Inception Date: 08-Oct-09

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Credit Risk Fund 10492 4.93 11966 6.18 12447 4.47 24739 6.91

Scheme Benchmark (NIFTY Credit Risk Bond Index C-III) 10828 8.30 12915 8.92 15208 8.74 32667 9.12
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 22508 6.16
HSBC Credit Risk Fund - Direct Fund Inception Date: 01-Jan-13

HSBC Credit Risk Fund - Direct Plan 10577 5.78 12282 7.11 12945 5.29 20485 7.19

Scheme Benchmark (NIFTY Credit Risk Bond Index C-III) 10828 8.30 12915 8.92 15208 8.74 25123 9.33

Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18834 6.32

68
 Comparative Performance of Debt Schemes
Fund Manager - Jalpan Shah Effective 30 May 2016. Total Schemes Managed - 7
Fund Manager - Shriram Ramanathan Effective 30 May 2016. Total Schemes Managed - 11
HSBC Short Duration Fund - Regular Plan Inception Date: 27-Dec-11

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Short Duration Fund 10459 4.60 11479 4.72 13060 5.48 21308 6.90

Scheme Benchmark (NIFTY Short Duration Debt Index B-II) 10591 5.92 11996 6.27 14022 6.99 23749 7.92
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 20824 6.68
HSBC Short Duration Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Short Duration Fund 10510 5.11 11688 5.35 13933 6.85 21498 7.69

Scheme Benchmark (NIFTY Short Duration Debt Index B-II) 10591 5.92 11996 6.27 14022 6.99 21525 7.71

Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18834 6.32

Fund Manager - Jalpan Shah Effective 30 May 2016. Total Schemes Managed - 7
Fund Manager - Shriram Ramanathan Effective 03 Apr 2017. Total Schemes Managed - 11
HSBC Gilt Fund - Regular Plan Inception Date: 29-Mar-00

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Gilt Fund 10538 5.40 11181 3.80 13462 6.12 57276 7.85

Scheme Benchmark (NIFTY All Duration G-Sec Index) 10745 7.48 11520 4.84 14688 7.98 NA NA
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 NA NA
HSBC Gilt Fund - Direct Plan Inception Date: 01-Jan-13

HSBC Gilt Fund 10666 6.68 11587 5.04 14313 7.43 24035 8.86

Scheme Benchmark (NIFTY All Duration G-Sec Index) 10745 7.48 11520 4.84 14688 7.98 20693 7.30

Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 18834 6.32

Fund Manager - Shriram Ramanathan Effective 02 Feb 2015. Total Schemes Managed - 11
Fund Manager - Kapil Lal Punjabi Effective 26 Nov 2022. Total Schemes Managed - 9
HSBC Medium Duration Fund - Regular Plan Inception Date: 02-Feb-15

1 Year 3 Years 5 Years Since Inception

Fund / Benchmark
(Value of ₹10,000 invested) Amount Returns Amount Returns Amount Returns Amount Returns
in ` (%) in ` (%) in ` (%) in ` (%)
HSBC Medium Duration Fund 10511 5.12 12055 6.44 13427 6.06 17296 6.88

Scheme Benchmark (NIFTY Medium Duration Debt Index B-III) 10639 6.40 12490 7.71 14414 7.58 18414 7.69
Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 16351 6.15
HSBC Medium Duration Fund - Direct Plan Inception Date: 02-Feb-15

HSBC Medium Duration Fund 10598 6.00 12380 7.39 14032 7.00 18591 7.82

Scheme Benchmark (NIFTY Medium Duration Debt Index B-III) 10639 6.40 12490 7.71 14414 7.58 18414 7.69

Additional Benchmark (CRISIL 10 year Gilt Index) 10701 7.03 10952 3.08 13761 6.59 16351 6.15

4
HSBC Large Cap Fund: The launch date of the Nifty 100 TRI is Jan 01, 2003 whereas the inception date of the scheme is Dec 10, 2002. The corresponding benchmark returns since inception of the scheme
not available. (Methodology Document for Equity Indices (niftyindices.com))
5
HSBC Corporate Bond Fund: The launch date of the NIFTY Corporate Bond Index B-III is Sep 03, 2001 whereas the inception date of the scheme is Mar 31, 1997. The corresponding benchmark returns
since inception of the scheme not available. ( NSE_Indices_Riskometer_2022-11.pdf (niftyindices.com))
6
HSBC Gilt Fund: The launch date of the NIFTY All Duration G-Sec Index is Sep 03, 2001 whereas the inception date of the scheme is Mar 29, 2000. The corresponding benchmark returns since inception of
the scheme not available. ( NSE_Indices_Riskometer_2022-11.pdf (niftyindices.com))
HSBC Liquid Fund: Since there was no continuous NAV history available for the surviving Plan of HSBC Liquid Fund prior to May 19, 2011, returns since the said date have been considered for calculating
7

Since Inception performance. The inception date of HSBC Liquid Fund however is December 4, 2002.
Since inception returns are to be provided since the date of allotment of units.
Additional benchmark as per SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2021/024 dated March 04, 2021.
IDCW are assumed to be reinvested and Bonus is adjusted.
The performance details provided herein are of Regular as well as Direct Plan - Growth Option. Returns on ₹10,000 are point-to-point returns for the specific time period, invested at the start of the period. The
returns for the respective periods are provided as on last business day NAV of March 2023 for the respective schemes. Returns for 1 year and Above are Compounded Annualized. Returns for less than 1 year is
Simple Annualized. Load is not taken into consideration for computation of performance. Different plans shall have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower
to the extent of the distribution expenses / commission charged to the Regular Plan. Considering the varying maturities of the close ended schemes, the performance of close-ended schemes is not provided
as it is strictly not comparable with that of open-ended schemes.
&
Post merger performance of the surviving scheme, arising out of merger of schemes with similar features, is computed as per the provisions of SEBI Circular No- SEBI/HO/IMD/DF3/CIR/P/2018/69 dated
April 12, 2018 using the weighted average performance of both transferor and transferee schemes. In other cases, performance is computed using the Applicable NAV of the surviving/continuing schemes.
Past performance may or may not be sustained in the future.

69
 Income Distribution cum Capital Withdrawal (IDCW) History For HSBC Schemes
Record Date/ Individual / Other Cum IDCW Record Date/ Individual / Other Cum IDCW
Plans/Options HUF NAV Plans/Options HUF NAV
HSBC Arbitrage Fund - Direct Plan - Monthly IDCW 23-Jul-21 1.0000 1.0000 17.5020
28-Apr-23 0.06 0.06 10.5111 03-Oct-19 0.6198 0.6198 13.0180
24-Feb-23 0.05 0.05 10.4780 HSBC Value Fund - Direct Plan -IDCW
27-Jan-23 0.05 0.05 10.4687 24-Jun-22 2.0000 2.0000 39.0840
HSBC Arbitrage Fund - Regular Plan - Monthly IDCW 25-Jun-21 2.0000 2.0000 41.1170
28-Apr-23 0.05 0.05 10.3265 21-Jun-18 1.2396 1.2396 29.2950
24-Feb-23 0.04 0.04 10.2877 HSBC Value Fund - Regular Plan -IDCW
27-Jan-23 0.04 0.04 10.2747 24-Jun-22 1.7500 1.7500 33.5300
HSBC Arbitrage Fund - Direct Plan - Quarterly IDCW 25-Jun-21 1.7500 1.7500 35.6320
03-Apr-23 0.18 0.18 11.4214 21-Jun-18 1.5495 1.5495 26.6310
30-Dec-22 0.11 0.11 11.3198 HSBC Overnight Fund-Direct Plan - Monthly IDCW
23-Sep-22 0.11 0.11 11.2610 25-Apr-23 5.2358 5.2358 1000.0013
HSBC Arbitrage Fund - Regular Plan - Quarterly IDCW 27-Feb-23 5.7330 5.7330 1000.0013
03-Apr-23 0.15 0.15 11.1646 25-Jan-23 5.0349 5.0349 1000.0013
30-Dec-22 0.10 0.10 11.0766 HSBC Overnight Fund-Regular Plan - Monthly IDCW
23-Sep-22 0.10 0.10 11.0310 25-Apr-23 5.1558 5.1558 1000.0013
HSBC Aggressive Hybrid Fund-Direct Plan - IDCW 27-Feb-23 5.6425 5.6425 1000.0013
27-Feb-23 1.2000 1.2000 16.2426 25-Jan-23 4.9405 4.9405 1000.0013
18-Nov-22 0.1600 0.1600 26.9120 HSBC Liquid Fund-Direct Plan - Monthly IDCW
21-Oct-22 0.1600 0.1600 26.9430 25-Apr-23 6.4593 6.4593 1037.8864
HSBC Aggressive Hybrid Fund-Regular Plan - IDCW 27-Mar-23 5.6179 5.6179 1037.8864
27-Feb-23 1.2000 1.2000 14.8911 27-Feb-23 6.0259 6.0259 1037.8864
18-Nov-22 0.1400 0.1400 23.4150 HSBC Liquid Fund-Regular Plan - Monthly IDCW
21-Oct-22 0.1400 0.1400 23.4610 25-Apr-23 6.1574 6.1574 1002.3019
HSBC Balanced Advantage Fund-Direct Plan - IDCW 27-Mar-23 5.3481 5.3481 1002.3019
18-Nov-22 0.1200 0.1200 19.8810 27-Feb-23 5.7279 5.7279 1002.3019
21-Oct-22 0.1200 0.1200 19.7100 HSBC Banking and PSU Debt Fund-Direct Plan - Monthly IDCW
23-Sep-22 0.1200 0.1200 19.7980 25-Apr-23 0.0700 0.0700 11.3847
HSBC Balanced Advantage Fund-Regular Plan - IDCW 27-Mar-23 0.0700 0.0700 11.3279
18-Nov-22 0.1100 0.1100 17.4550 27-Feb-23 0.0700 0.0700 11.2901
21-Oct-22 0.1100 0.1100 17.3280 HSBC Banking and PSU Debt Fund-Regular Plan - Monthly IDCW
23-Sep-22 0.1100 0.1100 17.4280 25-Apr-23 0.0700 0.0700 10.8485
HSBC Equity Savings Fund-Direct Plan - Quarterly IDCW 27-Mar-23 0.0700 0.0700 10.8009
27-Mar-23 0.2600 0.2600 14.7425 27-Feb-23 0.0700 0.0700 10.7713
26-Dec-22 0.1900 0.1900 14.8741 HSBC Corporate Bond Fund -Direct Plan - Quarterly IDCW
23-Sep-22 0.1900 0.1900 15.0190 27-Mar-23 0.2100 0.2100 11.4932
HSBC Equity Savings Fund-Regular Plan - Quarterly IDCW 26-Dec-22 0.1900 0.1900 11.5315
27-Mar-23 0.2400 0.2400 13.6237 23-Sep-22 0.1900 0.1900 11.4708
26-Dec-22 0.1800 0.1800 13.7805 HSBC Corporate Bond Fund -Regular Plan - Quarterly IDCW
23-Sep-22 0.1800 0.1800 13.9500 27-Mar-23 0.2000 0.2000 11.1447
HSBC Equity Savings Fund-Direct Plan - Monthly IDCW 23-Sep-22 0.1800 0.1800 11.1333
25-Apr-23 0.0900 0.0900 14.3511 24-Jun-22 0.1800 0.1800 11.1112
27-Mar-23 0.0900 0.0900 14.0941 HSBC Credit Risk Fund -Direct Plan - IDCW
25-Jan-23 0.0700 0.0700 14.2051 25-Jan-23 0.0300 0.0300 10.9140
HSBC Equity Savings Fund-Regular Plan - Monthly IDCW 18-Nov-22 0.0300 0.0300 10.8397
25-Apr-23 0.0800 0.0800 12.8928 25-Oct-22 0.0300 0.0300 10.7978
27-Mar-23 0.0800 0.0800 12.6701 HSBC Credit Risk Fund -Regular Plan - IDCW
27-Feb-23 0.0800 0.0800 12.7845 25-Jan-23 0.0300 0.0300 10.1774
HSBC Business Cycles Fund -Direct Plan - Monthly IDCW 18-Nov-22 0.0300 0.0300 10.1273
22-Jul-22 1.2000 1.2000 18.5470 25-Oct-22 0.0300 0.0300 10.0954
23-Jul-21 1.1000 1.1000 18.2520 HSBC Credit Risk Fund -Regular Plan - IDCW
03-Oct-19 0.7969 0.7969 13.5250 25-Jan-23 0.0300 0.0300 10.1774
HSBC Business Cycles Fund -Regular Plan - Monthly IDCW 18-Nov-22 0.0300 0.0300 10.1273
22-Jul-22 1.1000 1.1000 17.6530 25-Oct-22 0.0300 0.0300 10.0954

70
 Income Distribution cum Capital Withdrawal (IDCW) History For HSBC Schemes
Record Date/ Individual / Other Cum IDCW Record Date/ Individual / Other Cum IDCW
Plans/Options HUF NAV Plans/Options HUF NAV
HSBC Gilt Fund-Direct Plan - Quarterly IDCW 26-Nov-21 0.8000 0.8000 25.9690
27-Mar-23 0.2300 0.2300 12.6376 HSBC Midcap Fund-Direct Plan - IDCW
26-Dec-22 0.1700 0.1700 12.5750 26-Aug-22 4.2500 4.2500 59.6000
23-Sep-22 0.1700 0.1700 12.3770 26-Aug-21 3.7500 3.7500 59.8100
HSBC Gilt Fund-Regular Plan - Quarterly IDCW 26-Aug-20 2.0000 2.0000 43.2900
27-Mar-23 0.2000 0.2000 11.2144 HSBC Midcap Fund-Regular Plan - IDCW
26-Dec-22 0.1500 0.1500 11.1915 26-Aug-22 3.7500 3.7500 54.2400
23-Sep-22 0.1500 0.1500 11.0494 26-Aug-21 3.5000 3.5000 55.0900
HSBC Ultra Short Duration Fund -Direct Plan - IDCW 26-Aug-20 1.5000 1.5000 39.9600
25-Apr-23 7.3334 7.3334 1018.7156 HSBC Small Cap Fund-Direct Plan - IDCW
27-Feb-23 5.7550 5.7550 1017.1372 21-Oct-22 2.0000 2.0000 35.4780
25-Jan-23 5.4191 5.4191 1016.8013 22-Oct-21 1.7000 1.7000 33.9050
HSBC Ultra Short Duration Fund -Regular Plan - IDCW 23-Oct-19 0.8854 0.8854 18.2740
25-Apr-23 7.2334 7.2334 1034.2167 HSBC Small Cap Fund-Regular Plan - IDCW
27-Feb-23 5.6009 5.6009 1032.5842 21-Oct-22 1.8500 1.8500 32.3730
25-Jan-23 5.2827 5.2827 1032.2660 22-Oct-21 1.5000 1.5000 31.2030
HSBC Short Duration Fund-Direct Plan - Monthly IDCW 23-Oct-19 1.0625 1.0625 17.4510
25-Apr-23 0.1151 0.1151 11.8308 HSBC Medium to Long Duration Fund- Direct Plan - Quarterly IDCW
27-Feb-23 0.0210 0.0210 11.7367 27-Mar-23 0.1500 0.1500 10.6790
25-Jan-23 0.0685 0.0685 11.7842 26-Dec-22 0.2000 0.2000 10.6884
HSBC Short Duration Fund-Direct Plan - Quarterly IDCW 26-Sep-22 0.2000 0.2000 10.6709
26-Dec-22 0.1400 0.1400 11.4749 HSBC Medium to Long Duration Fund- Regular Plan - Quarterly IDCW
23-Sep-22 0.1400 0.1400 11.4275 27-Mar-23 0.0800 0.0800 10.6749
24-Jun-22 0.1400 0.1400 11.4222 26-Dec-22 0.1900 0.1900 10.7056
HSBC Short Duration Fund-Regular Plan - Monthly IDCW 26-Sep-22 0.1000 0.1000 10.6090
25-Apr-23 0.1043 0.1043 11.1511 HSBC Money Market Fund - Direct Plan - Monthly IDCW
27-Feb-23 0.0150 0.0150 11.0618 25-Apr-23 0.0982 0.0982 12.2873
25-Jan-23 0.0602 0.0602 11.1070 27-Mar-23 0.0718 0.0718 12.2609
HSBC Short Duration Fund-Regular Plan - Quarterly IDCW 27-Feb-23 0.0666 0.0666 12.2557
26-Dec-22 0.1300 0.1300 10.7333 HSBC Money Market Fund - Regular Plan - Monthly IDCW
23-Sep-22 0.1300 0.1300 10.7011 25-Apr-23 0.0902 0.0902 11.6299
24-Jun-22 0.1300 0.1300 10.7076 27-Mar-23 0.0653 0.0653 11.6050
HSBC Low Duration Fund-Direct Plan - Monthly IDCW 27-Feb-23 0.0591 0.0591 11.5988
25-Jan-23 0.0613 0.0613 11.1112 HSBC Conservative Hybrid Fund -Direct Plan - Monthly IDCW
18-Nov-22 0.0400 0.0400 11.0899 25-Apr-23 0.0900 0.0900 16.0216
25-Oct-22 0.0400 0.0400 11.0734 27-Mar-23 0.0900 0.0900 15.8216
HSBC Low Duration Fund-Regular Plan - Monthly IDCW 27-Feb-23 0.0900 0.0900 15.8160
25-Jan-23 0.0534 0.0534 10.3933 HSBC Conservative Hybrid Fund -Regular - Monthly IDCW
18-Nov-22 0.0400 0.0400 10.3799 25-Apr-23 0.0500 0.0500 12.2474
25-Oct-22 0.0400 0.0400 10.3714 27-Mar-23 0.0650 0.0650 12.0986
HSBC Medium Duration Fund-Direct Plan - Monthly IDCW 27-Feb-23 0.0650 0.0650 12.0982
18-Nov-22 0.0500 0.0500 11.4445 HSBC Conservative Hybrid Fund -Regular - Quarterly IDCW
25-Oct-22 0.0500 0.0500 11.3981 27-Mar-23 0.3000 0.3000 16.1199
26-Sep-22 0.0500 0.0500 11.3929 26-Dec-22 0.2900 0.2900 16.3553
HSBC Medium Duration Fund-Regular Plan - Monthly IDCW 26-Sep-22 0.2900 0.2900 16.2902
18-Nov-22 0.0500 0.0500 10.6593 HSBC Conservative Hybrid Fund -Direct- Quarterly IDCW
25-Oct-22 0.0500 0.0500 10.6257 27-Mar-23 0.2500 0.2500 13.7598
26-Sep-22 0.0500 0.0500 10.6317 26-Dec-22 0.2500 0.2500 13.9334
HSBC ELSS Fund-Direct Plan - IDCW 26-Sep-22 0.2500 0.2500 13.8414
18-Nov-22 1.3000 1.3000 33.4800
22-Mar-22 1.0000 1.0000 33.6200
26-Nov-21 1.0000 1.0000 34.3480
HSBC ELSS Fund-Regular Plan - IDCW
18-Nov-22 1.0000 1.0000 25.0290
22-Mar-22 0.8000 0.8000 25.3130
71
 Income Distribution cum Capital Withdrawal (IDCW) History For HSBC Schemes
Record Date/ Individual / NAV (₹) Record Date/ Individual / NAV (₹)
Plans/Options HUF Cum-IDCW Plans/Options HUF Cum-IDCW
HSBC Large Cap Equity Fund- IDCW 26-Jul-21 0.6600 14.7497
26-Dec-19 1.9922 30.9007 HSBC Tax Saver Equity Fund-IDCW
26-Dec-18 1.7708 28.5568 25-Jan-21 0.5000 22.1700
28-Dec-17 3.5000 33.2519 27-Jan-20 1.5495 21.5978
HSBC Large Cap Equity Fund- IDCW - Direct 24-Jan-19 1.5495 20.7121
28-Dec-20 2.5000 35.2296 HSBC Tax Saver Equity Fund-IDCW-Direct
26-Dec-19 2.2135 32.8511 25-Jan-21 0.7500 23.5890
26-Dec-18 1.9922 30.2377 27-Jan-20 1.7708 22.8954
HSBC Flexi Cap Fund-IDCW 24-Jan-19 1.7708 21.9059
26-Feb-19 1.6823 23.5590 HSBC Global Emerging Markets Fund-IDCW
27-Feb-18 2.2500 28.2124 27-Jun-14 0.5000 11.5335
24-Mar-17 1.5000 25.8408 HSBC Global Emerging Markets Fund-IDCW Direct
HSBC Flexi Cap Fund-IDCW-Direct 27-Jun-14 0.5000 11.6656
25-Feb-21 2.5000 31.2906 HSBC Infrastructure Fund- Regular - IDCW
26-Feb-20 1.7708 27.0263 23-Sep-22 2.0000 25.0800
26-Feb-19 1.9036 26.3947 HSBC Infrastructure Fund- Direct- IDCW
HSBC Focused Equity Fund-IDCW 23-Sep-22 2.2500 27.3700
26-Jul-21 0.6500 14.5068
HSBC Focused Equity Fund-IDCW - Direct

Pursuant to payment of IDCW, NAV per unit of the IDCW options of the aforesaid schemes will fall to the extent of the
payout and statutory levy (if applicable).

Past performance of the aforesaid schemes may or may not be sustained in future.

Please note that the IDCW rates mentioned are post applicable dividend distribution tax deduction.

Minimum Application Amount (SIP)##

Minimum Application Amount (SIP) for all schemes:

Particulars Frequency Details

Weekly 12 instalments of Rs. 500/- each and in multiples of Re. 1/- thereafter
Minimum no. of instalments and Minimum amount per
Monthly 6 instalments of Rs. 1,000/- each and in multiples of Re. 1/- thereafter
instalment
Quarterly 4 instalments of Rs. 1,500/- each and in multiples of Re. 1/- thereafter
Minimum aggregate investment - Rs. 6,000/- and in multiples of Re. 1/- thereafter

72
 Product Labelling
Scheme name and Type of scheme This product is suitable for investors who are seeking#

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

M Lo
gh

gh
od

od
Very

Very
Low

Low
High

High
VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Very High risk
HSBC Large Cap Fund (Erstwhile HSBC Large Cap Equity Fund) (Large Cap Fund) - An open ended equity scheme predominantly investing in large cap stocks.
• To create wealth over long term • Investment in predominantly large cap equity and equity related securities (Benchmark: NIFTY 100 TRI)
HSBC Flexi Cap Fund (Flexi Cap Fund) - An open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks. • To create wealth over long term
• Investment in equity and equity related securities across market capitalizations (Benchmark: NIFTY 500 TRI)
HSBC Small Cap Fund (Erstwhile L&T Emerging Businesses Fund) (Small Cap Fund) - An open ended equity scheme predominantly investing in small cap stocks
• Long term capital appreciation • IInvestment predominantly in equity and equity-related securities, including equity derivatives in Indian markets with key theme focus being
emerging companies (small cap stocks); and foreign securities (Benchmark: NIFTY Small Cap 250 TRI)
HSBC Infrastructure Fund (Erstwhile L&T Infrastructure Fund) (Thematic Fund) - An open-ended Equity Scheme following Infrastructure theme. • To create wealth over
long term • Investment in equity and equity related securities, primarily in themes that play an important role in India’s economic development (Benchmark: NIFTY
Infrastructure TRI)
HSBC Large and Mid Cap Fund (Erstwhile HSBC Large & Mid Cap Equity Fund) (Large & Mid Cap Fund) - An open ended equity scheme investing in both large cap and
mid cap stocks. • Long term wealth creation and income • Investment predominantly in equity and equity related securities of Large and Mid cap companies (Benchmark:
NIFTY Large Midcap 250 TRI)
HSBC Midcap Fund (Erstwhile L&T Midcap Fund) (Midcap Fund) - An open ended equity scheme predominantly investing in mid cap stocks. • Long term wealth creation
• Investment in equity and equity related securities of mid cap companies (Benchmark: NIFTY Midcap 150 TRI)
HSBC Focused Fund (Erstwhile HSBC Focused Equity Fund) (Focused Fund) - An open ended equity scheme investing in maximum 30 stocks across market caps (i.e.
Multi-Cap). • Long term wealth creation • Investment in equity and equity related securities across market capitalization in maximum 30 stocks (Benchmark: NIFTY 500 TRI)
HSBC Business Cycles Fund (Erstwhile L&T Business Cycles Fund) (Thematic Fund) - An open ended equity scheme following business cycles based investing theme.
• Long term capital appreciation • Investment predominantly in equity and equity-related securities, including equity derivatives in Indian markets with focus on riding
business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy
(Benchmark: NIFTY 500 TRI)
HSBC Multi Cap Fund - (Multicap Fund) - An open ended equity scheme investing across large cap, mid cap, small cap stocks. • To create wealth over long term •
Investment predominantly in equity and equity related securities across market capitalisation. Benchmark: NIFTY 500 Multicap 50:25:25 TRI
HSBC Value Fund (Erstwhile L&T India Value Fund) (Value Fund) - An open ended equity scheme following a value investment strategy. • Long term capital appreciation
• Investment predominantly in equity and equity-related securities in Indian markets and foreign securities with higher focus on undervalued securities (Benchmark: NIFTY 500
TRI)
HSBC ELSS Fund (Erstwhile L&T Tax Advantage Fund) (Equity Linked Savings Scheme) - An open ended equity linked saving scheme with a statutory lock in of 3 years
and tax benefit • Long term capital growth • Investment predominantly in equity and equity-related securities (Benchmark: NIFTY 500 TRI)
HSBC Nifty 50 Index Fund (Erstwhile L&T Nifty 50 Index) (Index Fund) - An open-ended Equity Scheme tracking Nifty 50 Index • Long term wealth creation
• Investment in equity securities covered by the NIFTY 50 (Benchmark: NIFTY 50 Index TRI)
HSBC Nifty Next 50 Index Fund (Erstwhile L&T Nifty Next 50 Index) (Index Fund) - An open-ended Equity Scheme tracking Nifty Next 50 Index • Long term capital
appreciation • Investment in equity securities covered by the NIFTY NEXT 50 (Benchmark: NIFTY Next 50 Index TRI)
HSBC Tax Saver Equity Fund (Equity Linked Savings Scheme) - An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit
• Long term capital growth • Investment predominantly in equity and equity-related securities (Benchmark: NIFTY 500 TRI)
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund (Fund of Funds (Overseas)) - An Open Ended Fund of Funds Scheme investing in HSBC Global Investments Fund -
(HGIF) Asia Pacific Ex Japan Equity High Dividend Fund • To create wealth over long-term • Investment in equity and equity related securities of Asia Pacific countries
(excluding Japan) through fund of funds route (Benchmark: MSCI AC Asia Pacific ex Japan TRI)
HSBC Brazil Fund (Fund of Funds (Overseas)) - An Open-Ended Fund of Funds Scheme investing in HSBC Global Investments Fund - (HGIF) Brazil Equity Fund.
• To create wealth over long term • Invests in equity and equity related securities through feeder route in Brazilian markets (Benchmark: MSCI Brazil 10/40 Index TRI)
HSBC Global Emerging Markets Fund (Fund of Funds (Overseas)) - An Open-Ended Fund of Funds Scheme investing in HSBC Global Investments Fund - (HGIF) Brazil
Equity Fund. • To create wealth over long term • Investment predominantly in units of HSBC Global Investment Funds - Global Emerging Markets Equity Fund (Benchmark:
MSCI Emerging Markets Index TRI)
HSBC Global Equity Climate Change Fund of Fund (Fund of Funds (Overseas)) - An open ended fund of fund scheme investing in HSBC Global Investment Funds – Global
Equity Climate Change • To create wealth over long term. • Investment predominantly in companies positioned to benefit from climate change through fund of funds route
(Benchmark: MSCI AC World TRI)

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

gh

M Lo

gh
od

od
Very

Very
Low

High

Low

High

VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Moderately High risk
HSBC Equity Savings Fund (Erstwhile L&T Equity Savings Fund) (Equity Savings Fund) - An open ended scheme investing in equity, arbitrage and debt.
• Investment in fixed income (debt and money market instruments) as well as equity and equity related securities • Capital appreciation over medium to long term
(Benchmark: NIFTY Equity Savings Index)
73
 Product Labelling
Scheme name and Type of scheme This product is suitable for investors who are seeking#

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

M Lo
gh

gh
od

od
Very

Very
Low

Low
High

High
VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Low risk
HSBC Overnight Fund (Overnight fund) - An open ended debt scheme investing in overnight securities. Relatively Low interest rate risk and relatively Low credit risk. • Income over
short term and high liquidity • Investment in debt & money market instruments with overnight maturity (Benchmark: NIFTY 1D Rate Index)
HSBC Arbitrage Fund (Erstwhile L&T Arbitrage Opportunities Fund) (Arbitrage Fund) - An open ended scheme investing in arbitrage opportunities. • Generation of reasonable
returns over short to medium term • Investment predominantly in arbitrage opportunities in the cash and derivatives segments of the equity markets; and debt and money market
instrument. (Benchmark: Nifty 50 Arbitrage Index)

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

M Lo
gh

gh
od

od
Very

Very
Low

Low
High

High

VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Moderate risk
HSBC Dynamic Bond Fund (Erstwhile L&T Flexi Bond Fund) (Dynamic Bond Fund) - An open ended dynamic debt scheme investing across duration. A relatively high
interest rate risk and relatively low credit risk. • Generation of reasonable returns over medium to long term • Investment in fixed income securities (Benchmark: NIFTY
Composite Debt Index A-III)
HSBC Banking & PSU Debt Fund (Erstwhile L&T Banking and PSU Debt Fund) (Banking and PSU Fund) - An open ended debt scheme primarily investing in debt
instruments of banks, public sector undertakings, public financial institutions and municipal bonds. A relatively high interest rate risk and relatively low credit risk.
• Generation of reasonable returns and liquidity over short term • Investment predominantly in securities issued by Banks, Public Sector Undertakings and Public Financial
Institutions and municipal corporations in India (Benchmark: NIFTY Banking & PSU Debt Index)
HSBC Corporate Bond Fund (Erstwhile L&T Triple Ace Bond Fund) (Corporate Bond Fund) - An open ended debt scheme predominantly investing in AA+ and above
rated corporate bonds. A relatively high interest rate risk and relatively low credit risk. • Generation of regular and stable income over medium to long term
• Investment predominantly in AA+ and above rated corporate bonds and money market instruments (Benchmark: NIFTY Corporate Bond Index B-III)
HSBC Gilt Fund (Erstwhile L&T Gilt Fund) (Gilt Fund) - An open ended debt scheme investing in government securities across maturity. A relatively high interest rate risk
and relatively low credit risk. • Generation of returns over medium to long term • Investment in Government Securities (Benchmark: NIFTY All Duration G-Sec Index)
HSBC CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund (Index Fund) - An open-ended Target Maturity Index Fund tracking CRISIL IBX 50:50 Gilt Plus SDL Index –
April 2028. Relatively High interest rate risk and Low credit risk. • Income over target maturity period • Investment in constituents similar to the composition of CRISIL IBX
50:50 Gilt Plus SDL Index – April 2028 (Benchmark: CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028)
HSBC CRISIL IBX Gilt June 2027 Index Fund (Index Fund) - An open-ended Target Maturity Index Fund tracking CRISIL-IBX Gilt Index - June 2027. Relatively high
interest rate risk and relatively low credit risk. • Income over target maturity period. • Investments in Government Securities and Tbills (Benchmark: CRISIL-IBX Gilt Index -
June 2027)

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

M Lo
gh

gh
od

od
Very

Very
Low

Low
High

High

VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Low to Moderate risk

HSBC Low Duration Fund (Erstwhile L&T Low Duration Fund) (Low Duration Fund) - An open ended low duration debt scheme investing in instruments such that the
Macaulay duration of the portfolio is between 6 months to 12 months (for details on Macaulay’s Duration please refer to SID under the section “Asset Allocation Pattern”).
A relatively low interest rate risk and moderate credit risk. • Liquidity over short term • Investment in Debt / Money Market Instruments such that the Macaulay^ duration
of the portfolio is between 6 months to 12 months (Benchmark: NIFTY Low Duration Debt Index B-I)
HSBC Short Duration Fund (Erstwhile L&T Short Term Bond Fund) (Short Duration Fund) - An open ended short term debt scheme investing in instruments such that
the Macaulay duration of the portfolio is between 1 year to 3 years for details on Macaulay’s Duration please refer to SID under the section “Asset Allocation Pattern”). A
moderate interest rate risk and moderate credit risk. • Generation of regular returns over short term • Investment in fixed income securities of shorter term maturity.
(Benchmark: Nifty Short Duration Debt Index B-II)
74
 Product Labelling
Scheme name and Type of scheme This product is suitable for investors who are seeking#

HSBC Money Market Fund (Erstwhile L&T Money Market Fund) - An open ended debt scheme investing in money market instruments. Relatively Low interest rate risk
and Moderate credit risk. • Generation of regular income over short to medium term • Investment in money market instruments
(Benchmark: Nifty Money Market Index B-I)
HSBC Liquid Fund (Erstwhile HSBC Cash Fund) (Liquid Fund) - An open-ended Liquid Scheme. Relatively Low interest rate risk and Low credit risk.
• Overnight liquidity over short term • Investment in Money Market Instruments (Benchmark: Nifty Liquid Index B-I)
HSBC Ultra Short Duration Fund (Ultra Short Duration Fund) - An Open ended Ultra-Short term debt scheme investing in instruments such that the Macaulay duration of
the portfolio is between 3 months to 6 months. Please refer Page no. 9 of the SID for explanation on Macaulay duration. Relatively low interest rate risk and moderate
credit risk. • Income over short term with Low volatility. • Investment in debt & money market instruments such that the Macaulay Duration of the portfolio is between 3
months - 6 months. (Benchmark: NIFTY Ultra Short Duration Debt Index B-I)

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to to Hi
w rate
Hi w rate
e M Lo e

gh
M Lo

gh

od
od

Very
Very

Low

High
Low

High

VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Moderate risk

HSBC Credit Risk Fund (Erstwhile L&T Credit Risk Fund) (Credit Risk Fund) - An open ended debt scheme predominantly investing in AA and below rated corporate
bonds (excluding AA+rated corporate bonds). A relatively high interest rate risk and relatively high credit risk. • Generation of regular returns and capital appreciation over
medium to long term • Investment in debt instruments (including securitized debt), government and money market securities (Benchmark: NIFTY Credit Risk Bond Index
C-III)

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

M Lo
gh

gh
od

od
Very

Very
Low

Low
High

High

VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Moderately High risk

HSBC Conservative Hybrid Fund (Erstwhile HSBC Regular Savings Fund) (Conservative Hybrid Fund) - An open ended hybrid scheme investing predominantly in debt
instruments. • Investment in fixed income (debt and money market instruments) as well as equity and equity related securities
• Capital appreciation over medium to long term (Benchmark: NIFTY 50 Hybrid Composite Debt 15:85 Index)

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

M Lo
gh

gh
od

od
Very

Very
Low

Low
High

High

VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Moderate risk

HSBC Medium to Long Duration Fund (Erstwhile HSBC Debt Fund) (Medium to Long Duration Fund) - An open ended medium to long term debt scheme investing in
instruments such that the Macaulay duration of the portfolio is between 4 years to 7 years (for details on Macaulay’s Duration please refer to SID under the section “Asset
Allocation Pattern”). Relatively high interest rate risk and moderate credit risk. • Regular income over medium term • Investment in diversified portfolio of fixed income
securities such that the Macaulay^ duration of the portfolio is between 4 year to 7 years (Benchmark: NIFTY Medium to Long Duration Debt Index B-III)
HSBC Medium Duration Fund (Erstwhile L&T Resurgent India Bond Fund) (Medium Duration Fund) - An open ended medium term debt scheme investing in
instruments such that the Macaulay duration of the portfolio is between 3 years to 4 years (for details on Macaulay’s Duration please refer to the SID under the section
“Asset Allocation Pattern”). A relatively high interest rate risk and moderate credit risk. • Generation of income over medium term • Investment primarily in debt and
money market securities (Benchmark: NIFTY Medium Duration Debt Index B-III)

75
 Product Labelling
Scheme name and Type of scheme This product is suitable for investors who are seeking#

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

M Lo
gh

gh
od

od
Very

Very
Low

Low
High

High
VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at Very High risk
HSBC Aggressive Hybrid Fund (Erstwhile L&T Hybrid Equity Fund) (Aggressive Hybrid Fund) - An open ended hybrid scheme investing predominantly in equity and
equity related instruments. • Long term wealth creation and income • Investment in equity and equity related securities and fixed income instruments (Benchmark: Nifty
50 Hybrid composite debt 65:35 Index)
HSBC Balanced Advantage Fund (Erstwhile L&T Balanced Advantage Fund) (Balanced Hybrid Fund) - An open ended dynamic asset allocation fund.
• Long term capital appreciation and generation of reasonable returns • Investment in equity and equity related instruments, derivatives and debt and money market
instruments (Benchmark: NIFTY 50 Composite Hybrid Debt 50:50 Index)

*Riskometer of the Scheme Riskometer of the Benchmark

Modera Modera
derate t
High ely derate t
High ely
Mo Mo
to Hi to Hi
w rate w rate
e e
M Lo

M Lo
gh

gh
od

od
Very

Very
Low

Low
High

High
VERY VERY
LOW LOW
HIGH HIGH
Investors understand that their principal
will be at High risk

HSBC Managed Solutions India - Moderate (Fund of Funds (Overseas/Domestic)) - An Open Ended Fund of Funds Scheme investing in a basket of equity, debt, Gold and
other Exchange Traded Funds. • To create wealth and provide income over the long-term • Investments in a basket of debt mutual funds, equity mutual funds, gold &
exchange traded funds, offshore mutual funds and money market instruments (Benchmark: CRISIL Hybrid 35+65 - Aggressive Index)

Riskometer of the Benchmark - CRISIL Riskometer of the Benchmark - S&P

*Riskometer of the Scheme Composite Bond Fund Index BSE 200 TRI Index

Modera Modera Modera

derate t
High ely derate t
High ely derate t
High ely
Mo Mo Mo
to Hi to Hi to Hi
w rate w rate w rate
e e e
M Lo

M Lo
gh

gh
M Lo

gh

od

od
od

Very

Very
Very

Low

Low
High

High
Low

High

VERY VERY VERY

LOW LOW LOW
HIGH HIGH HIGH
Investors understand that their principal
will be at Moderate risk

HSBC Managed Solutions India - Conservative (Fund of Funds (Domestic)) - An Open Ended Fund of Funds Scheme investing in a basket of equity, debt, Gold and other
Exchange Traded Funds. • To provide income over the long-term. • Investing predominantly in units of debt mutual funds as well as in a basket of equity mutual funds,
gold & other exchange traded funds and money market instruments. (Benchmark: S&P BSE 200 TRI Index. Additional Benchmark: CRISIL Composite Bond Fund Index)

Riskometer of the Benchmark - CRISIL Riskometer of the Benchmark - S&P

*Riskometer of the Scheme Composite Bond Fund Index BSE 200 TRI Index
Modera Modera Modera
derate t
High ely derate t
High ely derate t
High ely
Mo Mo Mo
to Hi to to Hi
w rate w rate
Hi w rate
e e e
M Lo

M Lo
gh

gh
M Lo

gh
od

od
od
Very

Very
Low

Low
High

High
Very
Low

High

VERY VERY VERY

LOW LOW LOW
HIGH HIGH HIGH
Investors understand that their principal
will be at Very High risk
HSBC Managed Solutions India - Growth (Fund of Funds (Overseas/Domestic)) - An Open Ended Fund of Funds Scheme investing in a basket of equity, debt, Gold and
other Exchange Traded Funds. • To create wealth over long term • Investing predominantly in units of equity mutual funds as well as in a basket of debt mutual funds,
gold & exchange traded funds, offshore mutual funds and money market instruments. (Benchmark: S&P BSE 200 Index. Additional Benchmark: CRISIL Composite Bond
Fund Index)
Note for Risk-o-Meter:
Please note that the above risk-o-meters are as per the product labelling of the schemes available as on the date of this communication/ disclosure. As per SEBI circular dated October 5, 2020 on product labelling (as amended from time to time),
risk-o-meters will be calculated on a monthly basis based on the risk values of the respective scheme's portfolio based on the methodology specified by SEBI in the above stated circular. The AMC shall disclose the risk-o-meters along with portfolio
disclosure for all their schemes on their respective website and on AMFI website within 10 days from the close of each month. Any change in risk-o-meter shall be communicated by way of Notice cum Addendum and by way of an e-mail or SMS
76
to unitholders of that particular Scheme.
Statutory Details & Disclaimers

All returns have been sourced from Mutual Funds India Explorer software unless otherwise stated.
This document has been prepared by HSBCAsset Management (India) Private Limited (HSBC) for information purposes only and should not be construed as
i) an offer or recommendation to buy or sell securities, commodities, currencies or other investments referred to herein; or ii) an offer to sell or a solicitation
or an offer for purchase of any of the funds of HSBC Mutual Fund; or iii) an investment research or investment advice. It does not have regard to specific
investment objectives, financial situation and the particular needs of any specific person who may receive this document. Investors should seek personal and
independent advice regarding the appropriateness of investing in any of the funds, securities, other investment or investment strategies that may have been
discussed or referred herein and should understand that the views regarding future prospects may or may not be realized. In no event shall HSBC Mutual
Fund/HSBCAsset management (India) Private Limited and / or its affiliates or any of their directors, trustees, officers and employees be liable for any direct,
indirect, special, incidental or consequential damages arising out of the use of information / opinion herein.
This document is intended only for those who access it from within India and approved for distribution in Indian jurisdiction only. Distribution of this document
to anyone (including investors, prospective investors or distributors) who are located outside India or foreign nationals residing in India, is strictly prohibited.
Neither this document nor the units of HSBC Mutual Fund have been registered under Securities law/Regulations in any foreign jurisdiction. The distribution
of this document in certain jurisdictions may be unlawful or restricted or totally prohibited and accordingly, persons who come into possession of this
document are required to inform themselves about, and to observe, any such restrictions. If any person chooses to access this document from a jurisdiction
other than India, then such person do so at his/her own risk and HSBC and its group companies will not be liable for any breach of local law or regulation
that such person commits as a result of doing so.
Investors should not invest in the Scheme solely based on the information provided in this document and should read the Scheme Information Document
and, Statement of Additional Information of the Fund for details. This document does not constitute an offering document.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying,
recording, or otherwise, without the prior written permission of HSBC Asset Management (India) Private Ltd.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

HSBC Asset Management (India) Pvt.Ltd.

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