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Factsheet - January 2020
Index
Fund Manager Commentary 01
HSBC Mutual Fund Products 05
HSBC Large Cap Equity Fund 06
HSBC Large and Mid Cap Equity Fund 07
HSBC Multi Cap Equity Fund 08
HSBC Small Cap Equity Fund 09
HSBC Infrastructure Equity Fund 10
HSBC Tax Saver Equity Fund 11
HSBC Equity Hybrid Fund 12
HSBC Global Emerging Markets Fund 13
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund 13
HSBC Brazil Fund 14
HSBC Global Consumer Opportunities Fund 14
HSBC Managed Solutions India - Growth - Moderate - Conservative 15
Comparative Performance of Equity Schemes 16
SIP Performance of Equity Schemes 19
Fund Manager Equity And Debt 22
HSBC Overnight Fund 23
HSBC Cash Fund 24
HSBC Ultra Short Duration Fund 25
HSBC Low Duration Fund 26
HSBC Short Duration Fund 27
HSBC Debt Fund 28
HSBC Flexi Debt Fund 29
HSBC Regular Savings Fund 30
Comparative Performance of Debt Schemes 31
Section II - How to read Factsheet 33FUND MANAGER COMMENTARY
Equity Markets
Equity Market Indices Market Review
Indian equity markets outperformed the global equity market indices during
Last 1 Month CYTD
Indices January 2020 even as adverse news flows began to emerge regarding the
Close (Change (Change
Coronavirus outbreak and concerns on whether it will impact global growth.
in %) in %)
Within domestic indices, the broader market indices surged during the month
Domestic as BSE Smallcap and Midcap indices outperformed the Largecap and market
indices. The market indices BSE Sensex and CNX Nifty were down 1.7% and
S&P BSE Sensex TR 59448 -1.3% 15.7% 1.3% respectively while BSE Midcap / Smallcap indices gained 7.1% and 3.3%
Nifty 50 TR 16790 -1.7% 13.5% respectively.
S&P BSE 200 TR 6034 -0.7% 10.4% The Union budget for FY 2020-21 was presented in the parliament on 01
S&P BSE 500 TR 18702 -0.1% 9.0% February 2020. The budget focused on reviving the economy gradually and
S&P BSE Midcap TR 18490 3.3% -2.1% hence was devoid of any immediate stimulus measures. On the positive side,
the budget continued to re-emphasise on structural reforms that have been
S&P BSE Smallcap TR 17407 7.1% -5.9%
undertaken (GST, IBC, DBT, NIP etc.). Other focus areas were related to
NSE Large & Midcap 250 TR 7563 2.0% 6.0%
attracting foreign capital into India as well as the push to improve the digital
S&P BSE India Infrastructure Index TR 219 0.5% -8.9% ecosystem in the country. Inclusive growth agenda also received a thrust in the
MSCI India USD 587 -0.8% 6.1% budget as there was continued emphasis on social welfare, education & skills
MSCI India INR 1358 -0.8% 8.5% development, healthcare sector, clean energy, financial inclusion and
INR - USD 71 0.0% 2.3% affordable housing. Overall, the budget proposals are a continuation of the
government's focus on structural reforms and improving the system efficiency.
Crude Oil 58 -11.9% 22.7%
The quarterly results season has so far trended on expected lines on
profitability for Nifty companies while the revenues have been muted. For the
6
5 4.8 30 companies that have declared results so far, the aggregate revenues have
4
FII & DII inflows remained flat on a YoY basis, while the adjusted EBITDA / PAT have increased
2.9 3.1
3
2.2 2.9 by 13% / 25% YoY. PAT has seen the benefit of the corporate tax cuts flowing
3.0 1.7 2.1
USD bn
2 1.4 1.4 through this quarter as well.
1.0 0.9
1 0.3
0 0.3 0.1 0.5 The headline retail inflation (CPI) for the month of Dec 2019 hardened to 7.4%
-0.6 0.8 0.7
-1 -0.1 -0.1 YoY compared to 5.5% YoY in the month of Nov 2019. The spike in inflation
-2 -2.0 -1.1 came on the back of higher food inflation and this resulted in the highest
-1.9 -2.2
-3 monthly inflation print in more than 5 years. IIP for the month of Nov 2019
Jan-20
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
recorded a growth of 1.8% YoY after 3 consecutive months of declines. The
GST mop up for the month of December 2019 (collected in January 2020),
FII flows MF Insurance DII flows (MF+Insurance) came in at ~Rs.1.1 tn, which was the third consecutive month of above Rs.1 tn
collections, which is a positive. Global crude oil prices were volatile during the
month as in the beginning of the month it spiked owing to geo-political tensions
in the Middle East. However, it has substantially cooled off since then after the
concerns around the Coronavirus outbreak in China emerged and has declined
~12% MoM during January 2020.
On the institutional flows, it was strong start to the new year with FIIs net buying equities worth ~USD 1.4 bn compared to USD 14.2 bn of net inflows seen during the
CY19. The DIIs also notched up a net positive tally of USD 313 mn driven by USD 624 mn of net buying from the domestic insurers. The MFs who have maintained the
traction of net buying during 2019, started the year on a muted note turning net sellers to the tune of USD 312 mn.
Global Market Update Global Market Indices
For markets it was a volatile start to the year due to host of global news flows. 1 Month CYTD
Last
Beginning of the month saw some positive momentum on the back of the signing of Indices (Change (Change
Close
the phase one trade deal between US and China. However, this was in %) in %)
overshadowed by the rising geopolitical tensions in the Middle East owing to the International (in USD)
stand-off between the US and Iran. Tensions rose as a result of US' targeted killing MSCI World 2,342 -0.7% 25.2%
of the Iran's military commander and Intelligence chief. However, the tensions Dow Jones 28,256 -1.0% 22.3%
didn't escalate further and subsided even as Iran attacked some US military bases S&P 500 3,226 -0.2% 28.9%
situated in Iraq. However, the key unfolding challenge for China in particular, has MSCI EM 1,062 -4.7% 15.4%
emerged during the third week of January as the country confirmed the outbreak of MSCI Europe 1,738 -2.6% 20.0%
Coronavirus. Though the outbreak outside of China is very much contained at
MSCI UK 1,145 -3.8% 15.2%
present, the WHO has called it a global health emergency in order to step up efforts
to combat the spread of the virus. However, this scenario should be closely MSCI Japan 3,390 -1.4% 17.1%
monitored in the context of likely impact on global growth following the impact of this MSCI China 81 -4.8% 20.9%
outbreak on China and its connected ecosystem. MSCI Brazil 2,193 -7.6% 22.1%
01Macro Market View
Market participants were expecting some direct measures to revive consumption in the union budget proposals. However, there were no immediate stimulus
measures announced in the budget, which will mean that the economic recovery is likely to remain on a gradual path. A theme that was evident in the budget was the
push from savings to consumption. Government is nudging individuals to move from savings to consumption by offering a better tax regime if one does not avail the
investment benefits and other deductions. Having said that, the efficacy of the personal tax rejig will be tested at the ground level as the incentive to switch to the new
regime is limited considering the impact of investments and other deductions foregone and will differ from an individual to individual basis. Other key disappointment
from the budget was the lack of specifics with respect to the infrastructure spends under the newly envisaged National Infrastructure Pipeline or NIP while the overall
growth in allocation for FY21 also came lower than expectation. Overall, this budget has highlighted that the government is looking at gradually reviving the economy in
a structural / sustainable manner and not going for any stimulus measures that could provide immediate relief.
If we look at the economic indicators, most of the growth and high frequency indicators are yet to recover and hence may only witness a gradual improvement from
hereon. On the fiscal policy front, we have seen hordes of government initiatives in the past 3 - 4 months (including the budget) with some path breaking decisions such
as the corporate tax cuts (corporate tax cuts is again a structural stimulus as the private capex is expected to revive only with a lag). In addition, we have seen some
follow on actions and implementation path being envisaged on key proposals (such as the infrastructure push through the NIP announcement, real estate stress fund,
efforts to revive credit flow to MSMEs, release of GST refunds to MSMEs etc.). The RBI through the Monetary Policy Committee or MPC has on the other has efficiently
targeted the inflation so far, but there could be some new challenges emerging there on the back of hardening food inflation. Suffice to say that there is no lack of efforts
from both monetary as well as fiscal policy point of view to gradually revive the economy. Softening trends on the global crude oil prices should be positive for India,
being a net imported that commodity. However, this should be looked at in the context of the unravelling global growth challenges due to the Coronavirus outbreak in
China.
If we look at the growth front, as stated above, it may still be a gradual path to recovery due to the sluggish consumption demand scenario. The Jul-Sep 2019 quarter
GDP has dropped to a 26-quarter low. From here on, we could see sequential improvement in the growth trajectory but for us to reach the 7%+ growth trajectory in a
sustainable manner it may a take a while as for that we need both the consumption and investment cycles to fire simultaneously. The corporate tax cut will help to
revive the investment cycle only over a 2-3-year horizon as the private corporate are still tentative to commit to the capex cycle given the sluggish demand scenario. On
the demand side of the equation, we see the rural demand which used to grow faster than urban consumption now trailing the latter. For the rural demand to revive we
need several things to fall in place. The monsoon has been kind this year except for the unseasonal rainfall, but the rural wage growth scenario remains challenged
with Minimum Support Price or MSP hikes failing to lift it meaningfully. Moreover, the tight fiscal situation for the government has restricted the ability of some of the
government DBT schemes to operate in full capacity, so this has further added to the rural challenges. So for a meaningful recovery in rural demand, we may need both
the wage growth and government schemes to operate in full efficiency.
Equity Market view
The trend of outperformance of the broader market indices especially Smallcap and Midcap indices which was visible towards the end of last year, accelerated during
January 2020. This is after a sharp underperformance from the Mid and Smallcap indices for almost 2 years after which the valuations had become very attractive.
At an aggregate level even as the valuations for narrow indices are trending above historical averages, the individual constituents' valuations continue to show a very
divergent picture. Even in Nifty / Sensex, there are companies trading closer to multi-year low valuations compared to their own history while there are others who are
touching new highs every other day. Within large caps, we expect a gradual pick up in the broad based participation to the market performance going forward. The
valuation gap between the mid and small cap segments and large caps has narrowed after the recent performance trends. Looking ahead, a sustained rebound for
mid and small cap segments will be largely dependent on the broader economic recovery but that process may be more gradual in nature.
Market performance in the near term will be a function of liquidity (FII flows), impact of the Coronavirus outbreak in China and global cues (trade negotiations, Brexit
and Crude oil prices). Though there has been an equity outperformance in past 3 - 4 months, the falling bond yields has sustained the relative attractiveness of equity
as an asset class. The results season has panned out on expected lines on profitability trends but the revenue momentum has been weak. However, excluding the
corporate tax gain reflecting on earnings, a broad based recovery will still be a gradual process. The budget proposals also lacked any immediate triggers than can
revive consumption / demand. As a result, we expect the market to remain range bound in the near term. The threat of a meaningful impact of the Coronavirus outbreak
on global economy also remains a concern. Softness in global crude oil prices should provide some relief for India especially given the revenue constraints for the
government as seen in this budget.
Valuations
Currently, the NSE Nifty 50 index is trading at ~21.7x /17x FY 20/21 forward consensus earnings expectations (source: Bloomberg).
Key Factors to Consider
• Impact of the Coronavirus outbreak on China, outside of China as well as its impact on global growth
• Remainder of the 3QFY20 results season.
• Monetary policy actions from RBI
• Other global events to track would be US Fed interest rate decisions, Brexit newsflows, crude oil price dynamics and their impact on flows to emerging markets and
India
Risks to market performance
Worsening situation from the Coronavirus outbreak in China, weak corporate earnings recovery, prolonged nature of the current economic slowdown as well as any
adverse global newsflows especially related to the US – China trade talks, crude oil price dynamics and global growth concerns.
Portfolio Strategy and Update
Broadly across portfolios, we are currently positive on Private Financiers, Real Estate and select domestic demand ideas while we are underweight in Auto, Staples,
Technology, Utilities and Energy. Our overweight position in Private Financiers is driven by the view that the corporate profit pool is getting concentrated with the
leaders, a trend that is expected to continue. Additionally, Private Financiers are seeing strong incremental earnings traction, has stronger liability franchise, witnessing
reduction in credit costs and continuing market share gains. Our exposure in real estate is through names that have relatively higher value coming from commercial
segment and those who are leaders in their markets / segments. We have exposure to telecom as we see the sector profitability coming back strongly driven tariff
improvement and consolidation benefits and this will accrue to players who are better positioned on network / spectrum coupled with better access and ability to deploy
future capital. Our underweight in autos is guided by a significant increase in cost of ownership as well as the current cyclical slowdown. Underweight in Staples is
largely due to historically high valuations as well as the moderating growth trends seen here. The underweight position in technology is due to slowing growth amidst
global macro slowdown and this may put further pressure on margins.
Looking ahead and after factoring in the benefit of the corporate tax cuts and the theme of consumption over savings reflected in the budget, we are positive on the
consumption ideas. We believe that a gradual improvement in the consumption demand should improve the demand for smaller ticket consumption items first and the
demand for other discretionary spends should follow later. The urban consumption growth is likely to recover faster and grow ahead of the rural consumption and our
portfolio positioning currently reflects this theme. Also, the trend of unorganised to organised should get accelerated in the context of the tax benefits accruing to
relatively stronger companies and hence that is an area of investment opportunities.
* Returns mentioned in the report are the Total Return or TR variants of the respective domestic indices. USD return for global indices.
02Sector Allocation
Sector^ HSBC Large HSBC Multi HSBC Small HSBC Tax HSBC Equity HSBC Large &
Cap Equity Cap Equity Cap Equity Saver Equity Hybrid Fund MidCap Equity
Fund Fund Fund Fund ^^ Fund
Consumer Discretionary U/W U/W O/W O/W E/W O/W
Consumer Staples U/W U/W U/W U/W U/W U/W
Energy U/W U/W U/W U/W U/W U/W
Financials E/W O/W O/W E/W O/W E/W
Healthcare E/W U/W U/W O/W U/W U/W
Industrials O/W O/W E/W O/W O/W O/W
Information Technology E/W U/W U/W U/W U/W U/W
Materials O/W O/W O/W U/W O/W E/W
Real Estate O/W O/W O/W O/W O/W O/W
Utilities U/W U/W U/W U/W U/W U/W
Communication Services U/W O/W U/W O/W O/W U/W
O/W - Overweight U/W - Underweight E/W - EqualWeight
Source – Bloomberg,* Returns mentioned in the report are the Total Return or TR variants of the respective indices, (for domestic indices only)
^ GICS - Global Industry Classification Standard (GICS) ^^ For equity portion only
Debt Markets
Markets and going forward
Markets in the month of January had been range bound with positive support from RBI’s “Operation Twist” while oil prices and global tensions where the balancing
factors. Also overhang on fiscal slippage kept the market edgy. Furthermore, inflation numbers added to the nervousness. However, the supporting factor was RBI
actions and oil retracting its highs towards the end of the month all the way below USD 60 per barrel. Post budget however market saw a meaningful rally on
account of the fact that there is no additional borrowing this year and next year’s borrowing is largely in line with market consensus.
Liquidity
Liquidity has largely been in surplus mode and going forward is expected to remain in surplus territory supported by RBI actions and government spending.
Budget FY 2020-21 CPI Inflation (%)
8.0
Inflation Growth(%)
In line with market expectation, government invoked the FRBM escape clause
7.0
to revising fiscal deficit to GDP higher to 3.8% versus initial target of 3.3%.
6.0
Simultaneously, FY22 target was pegged at 3.5% vs initial target of 3.0%.
Surprisingly, there was no additional borrowing for FY21 as was largely 5.0
expected. FY22 gross borrowing was pegged at INR 7.8 trillion. The slippage 4.0
this year and substantial portion of next year's deficit is likely to be funded by 3.0
borrowings from small savings. While revenue targets do not seem very 2.0
aggressive, the key will be the ability to achieve divestment target of INR 2.1 1.0
trillion which is way higher than this year of INR 650 bn. On the expenditure
0.0
side, scope for reduction later will be limited given that some part of the subsidy
Dec-16
Mar-17
Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
is already shifted off-balance sheet and reducing expenditure in a weak growth
scenario will be counter productive for growth. Separately, there was
announcement to open up certain segments of Government Securities (G- Index of Industrial Production (IIP)* new series data
Secs) for Non- Resident Investors. This suggests that government is taking 14
steps to include G-Secs in global indices which are positive for external flows
and managing G-Sec supply. In summary, while the budget numbers in terms
9
of fiscal deficit were in line with expectation, achievement will remain a
Growth(%)
challenge in an environment of weak growth.
4
Inflation
India CPI for December 2019, came in way higher than consensus at 7.35%,
-1
with food inflation inching over 13%. While uptick was largely due to vegetable
prices, there was generalized food price increase across various categories
Nov-14
Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-15
Mar-15
May-15
Jul-15
Sep-15
Nov-15
such as cereals, meat, milk even as pulses prices have shown sustained -6
increase over past several months. Core inflation increased by ~20 bps to
3.7%, driven almost entirely by rise in telecom tariffs, which however is yet to be
fully reflected. Core inflation could inch further higher as full impact of telecom Repo Rate (%)
is realized while increase in gold prices is also likely to weigh. On the other 10
hand, vegetable prices have trended lower in January but adverse base effects
9
Rate (%)
could keep inflation elevated in the near term.
8
7
6
5
4
May-12
May-13
May-14
May-15
May-16
May-17
May-18
May-19
Sep-12
Sep-13
Sep-14
Sep-15
Sep-16
Sep-17
Sep-18
Sep-19
Jan-12
Jan-13
Jan-14
Jan-15
Jan-16
Jan-17
Jan-18
Jan-19
Jan-20
03Trade Deficit
Key rates (in %) Current Previous Previous December 2019 trade deficit came in at USD 11.3 bn, lower than
week month expectations, as exports declined by 0.3% and imports de-grew by 8.8%.
Non-oil non gold imports continued to contract, reducing -12%. Gold
3M T-Bill 5.10 5.07 4.94 imports also declined by -4%. On a sequential basis, however there was
improvement in both exports and imports.
1Y G-Sec 5.62 5.68 5.46
Oil
3YG-Sec 6.13 6.20 6.17 Oil prices saw a spike in the beginning of the month touching USD72 per
5Y G-Sec 6.48 6.59 6.34 barrel driven by middle east tensions. However, during the course of the
month saw a reversal led by tensions cooling off and expectations of
10Y G-sec 6.50 6.58 6.50 temporary global growth setback due to the virus attack. Oil prices are
touching USD55-56 per barrel heading into February 2020.
Currency
AAA 5Yr Corp Bond 7.07 7.16 7.20
USD-INR saw a spike in the beginning on the month due to global
AAA 10yr Corp Bond 6.23 6.27 6.29 tensions. However, during the course of the month saw a reversal led by
tensions cooling off and expectations of temporary global growth setback
due to the virus attack.
Forex Reserve ($ MN) 466693 NA 454948 GST
GST for the month of December 2019 (collected in the month of January
2020) came in at INR 1108.3 bn vs INR 1031.8 bn the previous month.
Debt Market Indices Collection being flat m-o-m is somewhat positive as October 2019
collection got the boost of being a festive season. Overall, while this
Key Rates Latest Month 3 Months year's collections trend is factored in, improvement in collections will be
Ago Ago important to meet next year fiscal targets. Next year GST collections is
estimated to grow at 13% y-o-y.G
Mibor 5.10 5.15 5.22
Call Rate 5.15 5.15 5.25
Repo rate 5.15 5.15 5.15
1Y OIS 5.22 5.29 5.37
5Y OIS 5.32 5.43 5.58
Going forward
RBI's actions are expected to remain accommodative with the core objective to revive growth should be constructive for rates. With the overhang of fiscal
slippage out of the way for near term, the key factors to watch out for will be volatility from global markets (trade tensions, crude), which however remains a risk.
Inflationary pressures while could start to subdue particularly food inflation; however, any unexpected change driven by weather patterns need to watched for.
Growth continues to remain weak and recovery will be the key for lifting macro sentiments as the key to achieving even the upward revised fiscal targets is also
contingent upon growth recovery.
Source: Bloomberg, for all data except where mentioned otherwise
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.
04HSBC Mutual Fund Products
Pursuant to the circular issued by Securities and Exchange Board of India(SEBI) on ‘Categorization and Rationalization of Mutual Fund Schemes’in order to bring uniformity
in the practice and standardize the scheme categories across the Mutual Funds, placed below is the HSBC Mutual Fund’s product spectrum, effective from 14th March,2018.
Equity Schemes
Scheme
Scheme Type Benchmark Category Benchmark
HSBC Large Cap Equity Fund Large Cap Fund – An open ended equity Large Cap Fund Nifty 50 TRI
(Previous Name - HSBC Equity Fund) scheme predominantly investing in large cap (Previous Category - Large cap equity scheme)
stocks.
HSBC Small Cap Equity Fund Small Cap Fund - An open ended equity scheme Small Cap Fund S&P BSE 250 Small Cap Index TRI
(Previous Name - HSBC Midcap predominantly investing in small cap stocks (Previous Category - Mid-cap Equity Scheme) (Previous Benchmark - S&P BSE Midcap Index)
Equity Fund)
HSBC Multi Cap Equity Fund Multi Cap Fund - An open ended equity Multi cap Fund NIFTY 500 TRI
(Previous Name - HSBC India scheme investing across large cap, mid cap, (Previous Category - Flexi-Cap Equity Scheme)
Opportunities Fund) small cap stocks
HSBC Tax Saver Equity Fund An open ended equity linked saving scheme Equity Linked Savings Scheme S&P BSE 200 TRI
with a statutory lock-in of 3 years and tax benefit
HSBC Infrastructure Equity Fund An open ended equity scheme following Thematic Fund S&P BSE India Infrastructure Index TRI
Infrastructure theme. (Previous Category - Equity Scheme)
HSBC Large and Mid Cap Large & Mid Cap Fund- An open ended equity Large & Mid Cap Fund NIFTY Large Midcap 250 TRI
scheme investing in both large cap and mid cap
Equity Fund stocks
Debt Schemes
HSBC Debt Fund An open ended Medium to Long Term Debt Medium to Long Duration Fund CRISIL Composite Bond Fund Index
(Previous Name - HSBC Income Fund Scheme investing in instruments such that the (Previous category - Income Scheme)
Macaulay^^duration of the portfolio is between
- Investment Plan)
4 years to 7 years.
HSBC Short Duration Fund An open ended Short Term Debt Scheme Short Duration Fund CRISIL Short Term Bond Fund Index
^^
(Previous Name - HSBC Income Fund investing in instruments such that the Macaulay (Previous category - Short Term Plan)
- Short Term Plan) duration of the portfolio is between 1 year to
3 years.
HSBC Cash Fund An Open Ended Liquid Scheme Liquid Fund CRISIL Liquid Fund Index
HSBC Low Duration Fund An open ended Low Duration Debt Scheme Low Duration Fund CRISIL Low Duration Debt Index^£(Previously
(Previous Name - HSBC Ultra Short investing in instruments such that the Macaulay^^ (Previous category - Debt Fund) named as CRISIL Ultra Short Term Debt Index)
Term Bond Fund) duration of the portfolio is between 6 months to (Previous benchmark CRISIL Liquid Fund Index
12 months. - 90%, CRISIL Short Term Bond Fund Index
HSBC Flexi Debt Fund An open ended Dynamic Debt Scheme Dynamic Bond Fund CRISIL Composite Bond Fund Index
investing across duration (Previous category - An open - ended Debt
Scheme)
HSBC Overnight Fund An open ended debt scheme investing Overnight Fund CRISIL Overnight Index.
in overnight securities.
HSBC Ultra Short Duration Fund An Open ended Ultra-Short term debt scheme HSBC Ultra Short Duration Fund CRISIL Ultra Short Term Debt Index
investing in instruments such that the Macaulay
duration of the portfolio is between 3 months to 6
months.
Hybrid Scheme
HSBC Regular Savings Fund An open ended Hybrid Scheme investing Conservative Hybrid Fund CRISIL Hybrid 85+15 - Conservative Index^£#
(Previous Name - HSBC Monthly predominantly in debt instruments. (Previous category - Income Scheme) (renamed from existing MIP Blended Fund
Income Plan)# Index)
HSBC Equity Hybrid Fund An open ended Hybrid scheme investing Aggressive Hybrid fund A customized index with 70% weight to S&P
predominantly in equity and equity related BSE200 TRI and 30% weight to CRISIL
instruments Composite Bond Fund Index
Other Schemes
HSBC Managed Solutions India - An Open Ended Fund of Funds Scheme Fund of Funds (Overseas/Domestic) Composite Index constituting 80% of
Growth investing in a basket of equity, debt, Gold and S&P BSE 200 Index TRI and 20% of CRISIL
other Exchange Traded Funds Composite Bond Index.
HSBC Managed Solutions India - An Open Ended Fund of Funds Scheme Fund of Funds (Overseas/Domestic) CRISIL Hybrid 35+65 - Aggressive Index^£
Moderate investing in a basket of equity, debt, Gold and (renamed from existing CRISIL Balanced
other Exchange Traded Funds Fund Aggressive Index)
HSBC Managed Solutions India - An Open Ended Fund of Funds Scheme Fund of Funds (Domestic) Composite Index constituting of 90% of
Conservative investing in a basket of equity, debt, Gold and CRISIL Composite Bond Index and 10%
other Exchange Traded Funds of S&P BSE 200 Index TRI.
HSBC Global Emerging Markets Fund An open ended fund of fund scheme investing in Fund of Funds (Overseas) MSCI Emerging Markets Index TRI
(Previous Name - HSBC Emerging HSBC Global Investment Funds - Global (Previous Category - Fund of Funds)
Markets Fund) Emerging Markets Equity Fund
HSBC Asia Pacific (Ex Japan) An Open Ended Fund of Funds Scheme investing Fund of Funds (Overseas) MSCI AC Asia Pacific ex Japan TRI
Dividend Yield Fund in HSBC Global Investments Fund - (HGIF) (Previous Category - Fund of Funds)
Asia Pacific Ex Japan Equity High Dividend Fund
HSBC Brazil Fund An Open-Ended Fund of Funds Scheme Fund of Funds (Overseas) MSCI Brazil 10/40 Index TRI
investing in HSBC Global Investments Fund (Previous Category - Fund of Funds)
- (HGIF) Brazil Equity Fund
HSBC Global Consumer An Open Ended Fund of Funds Scheme Investing Fund of Funds (Overseas) MSCI AC World Index TRI
Opportunities Fund in HSBC Global Investment Funds (HGIF) China (Previous Category - Fund of Funds)
Consumer Opportunities Fund
^Debt Allocation of 85% and 35% in respective indices represented by CRISIL Composite Bond Index.
£ The equity component of the Index has been changed from Nifty 50 to S&P BSE - 200 and will be represented by Total Return variant of S&P BSE - 200 TRI.
# Monthly income is not assured and is subject to the availability of distributable surplus.
^^The Macaulay duration is the weighted average term 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.
Criteria for Large, Mid & Small companies -
SEBI has demarcated the definitions of large cap, mid cap and small cap companies as given below.
Large Cap: 1st -100th company in terms of full market capitalization, Mid Cap: 101st -250th company in terms of full market capitalization, Small Cap: 251st company onwards in terms of full
market capitalization of large/mid/small cap companies
Note - A list of stocks as per above criteria will be uploaded on AMFI website and updated every six months by AMFI.
05HSBC Large Cap Equity Fund Riskometer
Mo
Large Cap Fund - An open ended equity scheme predominantly investing in large cap stocks. l y d
ate Hi era
er w gh
Investment Objective: To generate long-term capital growth from an actively managed portfolio of equity and equity Lo
d
te
Mo
ly
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.
Low
Hig
h
This product is suitable for investors who are seeking*:
• To create wealth over long term LOW HIGH
• Investment in predominantly large cap equity and equity related securities Investors understand that their principal
will be at Moderately High risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Fund Details Issuer Industries % to Net Assets Sector Allocation
Date of Allotment 10-Dec-02 EQUITY 96.25%
Benchmark Nifty 50 TRI Banks 32.58%
NAV (as on 31.1.20) HDFC Bank Banks 9.79%
Finance 12.92%
Growth ` 225.4515
ICICI Bank Banks 9.74% Software 12.23%
Direct Growth ` 237.8840
Petroleum Products 9.03%
AUM (as on 31.1.20) ` 664.07 Cr
Reliance Industries Petroleum Products 9.03%
Consumer Non Durables 8.21%
AAUM (for the month of Jan) ` 672.93 Cr
Housing Development Finance 8.36% Construction Project 4.64%
Fund Manager & Experience Finance Corp
Neelotpal Sahai
Construction 3.53%
Total Experience 28 Years
Managing this fund Since May 27, 2013 Infosys Software 6.43% Cement 2.43%
Minimum Investment1
Telecom - Services 2.24%
Lumpsum ` 5,000 State Bank of India Banks 5.75%
SIP ` 500 Auto 1.87%
Additional Purchase ` 1,000 Kotak Mahindra Bank Banks 5.10% Hotels, Resorts And Other
Recreational Activities 1.71%
Entry load : “NA”
Exit load : 1 % if redeemed / switched out Larsen & Toubro Construction Project 4.64% Transportation 1.67%
within 1 year from date of allotment, else nil Pharmaceuticals 1.62%
Ratios2 DLF Construction 3.53%
Auto Ancillaries 1.57%
Standard Deviation 12.23%
Beta (Slope) 0.94 Asian Paints Consumer Non Durables 3.38% Reverse Repos/TREPS 4.50%
Sharpe Ratio3 0.52 Net Current Assets -0.75%
Tata Consultancy Services Software 3.13%
Month End Total Expenses Ratios
(Annualized)4
Hindustan Unilever Consumer Non Durables 3.06% Portfolio Classification By Market Segment Class (%)
Other than Direct5 2.48%
Direct 1.54% 3.28%
3.75%
HCL Technologies Software 2.67%
Portfolio Turnover (1 year) 0.80
Dividend History (Rate `/Unit) Shree Cement Cement 2.43%
Record Date Individual NAV (`)
Plans/Options /HUF Cum-Dividend ICICI Prudential Life Finance 2.31%
Insurance Co
Dividend
26-Dec-19 1.99217 30.9007
SBI Life Insurance Company Finance 2.25%
26-Dec-18 1.77082 28.5568
92.97%
28-Dec-17 3.50000 33.2519
Bharti Airtel Telecom - Services 2.24%
Dividend - Direct
26-Dec-18 2.21352 32.8511 Axis Bank Banks 2.20% Large Cap Debt Midcap
26-Dec-18 1.99217 30.2377
28-Dec-17 3.50000 34.7739 Maruti Suzuki India Auto 1.87%
Dividend is net dividend. Upon payment of dividend,
the NAV per unit falls to the extent of payout and ITC Consumer Non Durables 1.77%
statutory levy, if any. Face value: `10 per unit. For
complete dividend history, please refer our web site The Indian Hotels Company Hotels/ Resorts And Other 1.71%
http://www.assetmanagement.hsbc.com/in Recreational Activities
1
in multiples of Re 1 thereafter.
2
Ratios disclosed are as per monthly returns Adani Ports & Special Transportation 1.67%
(Annualized) for the last 3 years. Economic Zone
3
Risk free rate: 5.05% (FIMMDA-NSE Mibor) as
on January 31, 2020) Lupin Pharmaceuticals 1.62%
4
TER Annualized TER including GST on
Investment Management Fees
5 MRF Auto Ancillaries 1.57%
Continuing plans
Cash Equivalent 3.75%
TREPS* 4.50%
Net Current Assets: -0.75%
Total Net Assets as on 31-Jan-2020 100.00%
*TREPS : Tri-Party Repo
06HSBC Large and Mid Cap Equity Fund Riskometer
Mo
Large and Mid Cap Fund - An open ended equity scheme investing in both large cap and mid cap stocks. l y d
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Lo
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Investment Objective: To seek long term capital growth through investments in both large cap and mid cap stocks.
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However, there is no assurance that the investment objective of the Scheme will be achieved.
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This product is suitable for investors who are seeking*:
• Long term wealth creation and income LOW HIGH
• Investment predominantly in equity and equity related securities of Large and Mid cap companies Investors understand that their principal
will be at Moderately High risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Fund Details Issuer Industries % to Net Assets Sector Allocation
Date of Allotment 28-Mar-19 EQUITY 96.08%
Banks 28.21%
Benchmark NIFTY Large Midcap 250 TRI ICICI Bank Banks 7.80%
Consumer Durables 7.44%
NAV (as on 31.1.20) HDFC Bank Banks 7.80%
Finance 6.03%
Growth ` 10.7598 Reliance Industries Petroleum Products 3.99% Consumer Non Durables 5.55%
Infosys Software 3.29% Construction 5.54%
Direct Growth ` 10.9058
Kotak Mahindra Bank Banks 2.99% Software 5.26%
AUM (as on 31.1.20) ` 707.35 Cr
AAUM (for the month of Jan) ` 697.45 Cr City Union Bank Banks 2.94% Auto Ancillaries 4.59%
Larsen & Toubro Construction Project 2.90% Pharmaceuticals 4.32%
Fund Manager & Experience
Axis Bank Banks 2.58% Petroleum Products 3.99%
Neelotpal Sahai
Bharti Airtel Telecom - Services 2.11% Industrial Products 3.56%
Total Experience 28 Years
Construction Project 2.90%
Managing this fund Since Mar 28, 2019 The Federal Bank Banks 2.07%
Telecom - Services 2.11%
Amaresh Mishra Tata Global Beverages Consumer Non Durables 2.03%
Auto 1.66%
Total Experience 18 Years State Bank of India Banks 2.03%
Managing this fund Since July 23, 2019 Pesticides 1.65%
MRF Auto Ancillaries 1.97%
Textile Products 1.59%
Minimum Investment1 Voltas Consumer Durables 1.96% Cement 1.56%
Lumpsum ` 5,000 Asian Paints Consumer Non Durables 1.78% Hotels, Resorts And Other
1.51%
SIP ` 500 Recreational Activities
IPCA Laboratories Pharmaceuticals 1.78% Chemicals 1.42%
Additional Purchase ` 1,000 Housing Development Finance 1.71% Healthcare Services 1.41%
Entry load : “NA” Finance Corp Retailing 1.41%
Exit load : 1 % if redeemed / switched out Maruti Suzuki India Auto 1.66% Commercial Services 1.28%
within 1 year from date of allotment, else nil P I Industries Pesticides 1.65% Industrial Capital Goods 1.13%
Month End Total Expenses Ratios Torrent Pharmaceuticals Pharmaceuticals 1.64% Power 1.07%
(Annualized)2 Cholamandalam Investment Finance 1.62% Fertilisers 0.89%
Other than Direct3 2.42% & Fin Co Reverse Repos/TREPS 4.35%
Crompton Greaves Cons Consumer Durables 1.61% Net Current Assets -0.43%
Direct 0.83%
1 Electrical
in multiples of Re 1 thereafter.
2
Page Industries Textile Products 1.59%
TER Annualized TER including GST on Portfolio Classification By Market Segment Class (%)
Supreme Industries Industrial Products 1.58%
Investment Management Fees
Ultratech Cement Cement 1.56%
3
Continuing plans 3.92% 0.03%
Balkrishna Industries Auto Ancillaries 1.51% 5.16%
The Indian Hotels Company Hotels/ Resorts And Other 1.51%
Recreational Activities
The Phoenix Mills Construction 1.49%
DLF Construction 1.47%
Orient Electric Consumer Durables 1.42% 49.76%
Apollo Hospitals Enterprise Healthcare Services 1.41% 41.13%
V-Mart Retail Retailing 1.41%
SBI Life Insurance Company Finance 1.41%
Whirlpool of India Consumer Durables 1.40%
Aarti Industries Chemicals 1.39% Large Cap Midcap Small Cap Debt Others
Polycab India Industrial Products 1.39%
Oberoi Realty Construction 1.35%
Nippon Life India Asset Finance 1.29%
Management
Teamlease Services Commercial Services 1.28%
Kajaria Ceramics Construction 1.23%
Thermax Industrial Capital Goods 1.13%
Exide Industries Auto Ancillaries 1.11%
HCL Technologies Software 1.09%
United Breweries Consumer Non Durables 1.07%
JSW Energy Power 1.07%
VIP Industries Consumer Durables 1.05%
Natco Pharma Pharmaceuticals 0.90%
Coromandel International Fertilisers 0.89%
Tata Consultancy Services Software 0.88%
Jubilant Foodworks Consumer Non Durables 0.67%
SKF India Industrial Products 0.59%
Aarti Surfactants Chemicals 0.03%
Cash Equivalent 3.92%
TREPS* 4.35%
Net Current Assets: -0.43%
Total Net Assets as on 31-Jan-2020 100.00%
*TREPS : Tri-Party Repo 07HSBC Multi Cap Equity Fund Riskometer
Mo
Multi Cap Fund - An open ended equity scheme Investing across large cap, mid cap, small cap stocks. l y d
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Investment Objective: Seeks long term capital growth through investments across all market capitalisations, including Lo
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small, mid and large cap stocks. It aims to be predominantly invested in equity & equity related securities. However it could
move a significant portion of its assets towards fixed income securities if the fund manager becomes negative on equity
Low
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markets. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.
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This product is suitable for investors who are seeking*:
LOW HIGH
• To create wealth over long term
• Invests in equity and equity related securities across market capitalisations Investors understand that their principal
will be at Moderately High risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Fund Details Issuer Industries % to Net Assets Sector Allocation
Date of Allotment 24-Feb-04 EQUITY 98.59%
Benchmark NIFTY 500 TRI6 Banks 26.84%
ICICI Bank Banks 9.52%
NAV (as on 31.1.20) Finance 17.52%
HDFC Bank Banks 9.16%
Growth ` 89.8220 Reliance Industries Petroleum Products 6.39% Software 7.95%
Direct Growth ` 94.9448 Bajaj Finance Finance 5.93% Construction 7.06%
AUM (as on 31.1.20) ` 441.75 Cr Infosys Software 5.27% Petroleum Products 6.39%
AAUM (for the month of Jan) ` 441.07 Cr
State Bank of India Banks 4.33% Consumer Non Durables 5.46%
Fund Manager & Experience
Housing Development Finance 4.10% Industrial Products 3.97%
Neelotpal Sahai Finance Corp
Total Experience 28 Years Chemicals 3.10%
Managing this fund Since May 27, 2013 Kotak Mahindra Bank Banks 3.83%
Construction Project 3.10%
Minimum Investment 1 ICICI Prudential Life Finance 3.47%
Telecom - Services 2.81%
Insurance Co
Lumpsum ` 5,000
ICICI Securities Finance 3.20% Industrial Capital Goods 2.48%
SIP ` 500
Additional Purchase ` 1,000 Larsen & Toubro Construction Project 3.10% Consumer Durables 2.42%
Entry load : “NA” Bharti Airtel Telecom - Services 2.81% Cement 2.08%
Hotels, Resorts And Other
Exit load : 1 % if redeemed / switched out HCL Technologies Software 2.68% Recreational Activities
1.77%
within 1 year from date of allotment, else nil
Asian Paints Consumer Non Durables 2.44% Retailing 1.58%
Ratios2
Shree Cement Cement 2.08% Textile Products 1.45%
Standard Deviation 14.71%
The Indian Hotels Company Hotels/ Resorts And Other 1.77% Media & Entertainment 1.38%
Beta (Slope) 1.06 Recreational Activities
3 Pesticides 1.23%
Sharpe Ratio 0.27 DLF Construction 1.77%
Reverse Repos/TREPS 1.31%
Month End Total Expenses Ratios Tata Global Beverages Consumer Non Durables 1.74%
(Annualized)4 Net Current Assets 0.10%
Supreme Industries Industrial Products 1.58%
Other than Direct5 2.55%
V-Mart Retail Retailing 1.58%
Direct 1.39%
Aarti Industries Chemicals 1.56% Portfolio Classification By Market Segment Class (%)
Portfolio Turnover (1 year) 0.83
Oberoi Realty Construction 1.54% 1.41% 0.03%
8.86%
Dividend History (Rate `/Unit) Prestige Estates Projects Construction 1.52%
Vinati Organics Chemicals 1.51%
Record Date Individual NAV (`) 22.82%
Plans/Options /HUF Cum-Dividend The Phoenix Mills Construction 1.49%
Dividend Arvind Textile Products 1.45%
26-Feb-19 1.68228 23.5590 KEI Industries Industrial Products 1.41%
66.88%
27-Feb-18 2.25000 28.2124
Inox Leisure Media & Entertainment 1.38%
24-Mar-17 1.50000 25.8408
Jubilant Foodworks Consumer Non Durables 1.28%
Dividend - Direct
Honeywell Automation India Industrial Capital Goods 1.27%
26-Feb-19 1.90363 26.3947
27-Feb-18 2.25000 31.1273 P I Industries Pesticides 1.23% Large Cap Midcap Small Cap Debt Others
24-Mar-17 1.50000 28.1677 Thermax Industrial Capital Goods 1.21%
Orient Electric Consumer Durables 1.14%
Dividend is gross dividend. Upon payment of
dividend, the NAV per unit falls to the extent of Symphony Consumer Durables 1.10%
payout and statutory levy, if any. Face value: `10 per
NRB Bearing Industrial Products 0.98%
unit. For complete dividend history, please refer our
website http://www.assetmanagement.hsbc.com/in Nippon Life India Asset Finance 0.82%
Management
1
in multiples of Re 1 thereafter.
2
Gayatri Projects Construction 0.74%
Ratios disclosed are as per monthly returns
(Annualized) for the last 3 years. Johnson Controls-Hitachi Consumer Durables 0.18%
3
Risk free rate: 5.05% (FIMMDA-NSE Mibor) as AC India
on January 31, 2020) Aarti Surfactants Chemicals 0.03%
4
TER Annualized TER including GST on Cash Equivalent 1.41%
Investment Management Fees
5 TREPS* 1.31%
Continuing plans
6
The benchmark of the scheme has been Net Current Assets: 0.10%
changed from S&P BSE 200 TRI to NIFTY 500 Total Net Assets as on 31-Jan-2020 100.00%
TRI with effect from November 18, 2019 *TREPS : Tri-Party Repo
08HSBC Small Cap Equity Fund Riskometer
Mo
Small Cap Fund - An open ended equity scheme predominantly investing in small cap stocks. l y d
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Investment Objective: To generate long term capital growth from an actively managed portfolio of equity and equity related Lo
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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
Low
Hig
guarantee that the investment objective of the scheme would be achieved.
h
This product is suitable for investors who are seeking*:
LOW HIGH
• To create wealth over long term
• Investment in predominantly small cap equity and equity related securities Investors understand that their principal
will be at Moderately High risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Fund Details Issuer Industries % to Net Assets Sector Allocation
Date of Allotment 19-May-05 EQUITY 98.21%
Vinati Organics Chemicals 3.95% Consumer Durables 16.82%
Benchmark S&P BSE 250 Small Cap Index
TRI KEI Industries Industrial Products 3.88% Industrial Products 10.47%
Amber Enterprises India Consumer Durables 3.83% Banks 10.08%
NAV (as on 31.1.20)
Dixon Technologies (India) Consumer Durables 3.54% Chemicals 9.08%
Growth ` 47.6030
Aarti Industries Chemicals 3.12% Construction 8.13%
Direct Growth ` 50.4246
Inox Leisure Media & Entertainment 2.84% Cement 6.32%
AUM (as on 31.1.20) ` 394.40 Cr
JB Chemicals & Pharmaceuticals 2.83% Finance 5.14%
AAUM (for the month of Jan) ` 387.13 Cr
Pharmaceuticals Retailing 4.57%
Fund Manager & Experience HDFC Bank Banks 2.80% Pharmaceuticals 3.90%
Ankur Arora Can Fin Homes Finance 2.76% Media & Entertainment 3.83%
Total Experience 15 Years JK Lakshmi Cement Cement 2.71% Construction Project 2.64%
Managing this fund Since Aug 05, 2019
Ashoka Buildcon Construction Project 2.61% Software 2.34%
1
Minimum Investment
Century Plyboards (India) Consumer Durables 2.60% Commercial Services 2.29%
Lumpsum ` 5,000 Orient Electric Consumer Durables 2.55% Ferrous Metals 2.20%
SIP ` 500 V-Mart Retail Retailing 2.52% Power 2.14%
Additional Purchase ` 1,000 Deccan Cements Cement 2.49% Consumer Non Durables 2.00%
Entry load : “NA” Nilkamal Industrial Products 2.34% Textile Products 1.84%
Exit load : 1 % if redeemed / switched out Sonata Software Software 2.34% Auto 1.83%
within 1 year from date of allotment, else nil Teamlease Services Commercial Services 2.29% Transportation 1.59%
Ratios2 DCB Bank Banks 2.26% Hotels, Resorts And Other 0.91%
Recreational Activities
Standard Deviation 20.80% The Phoenix Mills Construction 2.23%
Industrial Capital Goods 0.09%
Beta (Slope) 0.98 Srikalahasthi Pipes Ferrous Metals 2.20%
Reverse Repos/TREPS 2.50%
Sharpe Ratio3 -0.04 ICICI Bank Banks 2.20%
Net Current Assets -0.71%
Month End Total Expenses Ratios Kalpataru Power Transmission Power 2.14%
(Annualized)4 Cera Sanitaryware Construction 2.07%
5 Future Lifestyle Fashions Retailing 2.05% Portfolio Classification By Market Segment Class (%)
Other than Direct 2.56%
CCL Products (India) Consumer Non Durables 2.00%
Direct 1.12% 1.79% 0.20%
NRB Bearing Industrial Products 1.95% 5.00%
Portfolio Turnover (1 year) 0.56
Carborundum Universal Industrial Products 1.95% 18.88%
Dividend History (Rate `/Unit) Oriental Carbon & Chemicals Chemicals 1.90%
Record Date Individual NAV (`) Arvind Textile Products 1.84%
Plans/Options /HUF Cum-Dividend VIP Industries Consumer Durables 1.83%
Dividend Escorts Auto 1.83%
74.13%
30-May-19 1.33 20.0428 Creditaccess Grameen Finance 1.83%
30-May-18 1.77 25.4966 Somany Ceramics Construction 1.67%
02-Nov-16 1.75 21.5706 The Federal Bank Banks 1.62%
Dividend - Direct Redington (India) Transportation 1.59%
Small Cap Midcap Large cap Debt Others
30-May-19 1.33 24.6882 TTK Prestige Consumer Durables 1.55%
30-May-18 1.77 30.7095 Oberoi Realty Construction 1.34%
02-Nov-16 1.75 25.3345 City Union Bank Banks 1.20%
Dividend is gross dividend. Upon payment of NCL Industries Cement 1.12%
dividend, the NAV per unit falls to the extent of Eris Lifesciences Pharmaceuticals 1.07%
payout and statutory levy, if any. Face value: `10 per
PVR Media & Entertainment 0.99%
unit. For complete dividend history, please refer our
website http://www.assetmanagement.hsbc.com/in Johnson Controls-Hitachi Consumer Durables 0.92%
1 AC India
in multiples of Re 1 thereafter.
2
Ratios disclosed are as per monthly returns Lemon Tree Hotels Hotels/ Resorts And Other 0.91%
(Annualized) for the last 3 years. Recreational Activities
3
Risk free rate: 5.05% (FIMMDA-NSE Mibor) as Gayatri Projects Construction 0.82%
on January 31, 2020) Nippon Life India Asset Finance 0.55%
4
TER Annualized TER including GST on Management
Investment Management Fees CMI Industrial Products 0.35%
5
Continuing plans
Aarti Surfactants Chemicals 0.11%
Macpower CNC machines Industrial Capital Goods 0.09%
Kridhan Infra Construction Project 0.03%
Cash Equivalent 1.79%
TREPS* 2.50%
Net Current Assets: -0.71%
Total Net Assets as on 31-Jan-2020 100.00%
*TREPS : Tri-Party Repo
09HSBC Infrastructure Equity Fund Riskometer
Mo
Infrastructure Equity Fund - An open ended equity scheme following Infrastructure theme. l y d
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Investment Objective: To generate long term capital appreciation from an actively managed portfolio of equity and equity Lo
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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
Low
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the investment objective of the scheme would be achieved.
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This product is suitable for investors who are seeking*:
LOW HIGH
• To create wealth over long term
• Invests in equity and equity related securities, primarily in themes that play an important role in India's economic development Investors understand that their principal
will be at High risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Fund Details Issuer Industries % to Net Assets Sector Allocation
Date of Allotment 23-Feb-06 EQUITY 97.34%
Benchmark S&P BSE India Infrastructure Construction Project 16.65%
Larsen & Toubro Construction Project 9.86%
Index TRI
NAV (as on 31.1.20) Reliance Industries Petroleum Products 7.66% Construction 13.92%
Growth ` 15.4217
NTPC Power 7.09%
Direct Growth ` 16.2995 Industrial Products 13.58%
Adani Ports & Special Transportation 7.05%
AUM (as on 31.1.20) ` 87.53 Cr
Economic Zone
AAUM (for the month of Jan) ` 88.24 Cr Power 10.68%
Fund Manager & Experience KEI Industries Industrial Products 6.89%
Gautam Bhupal Petroleum Products 9.74%
APL Apollo Tubes Ferrous Metals 3.93%
Total Experience 15 Years
Managing this fund Since May 11, 2018 Ultratech Cement Cement 3.63% Transportation 9.23%
Minimum Investment1
DLF Construction 3.57%
Lumpsum ` 5,000 Cement 7.57%
SIP ` 500 ACC Cement 3.52%
Additional Purchase ` 1,000 Ferrous Metals 6.45%
Entry load : “NA” Gujarat Gas Gas 3.29%
Exit load : 1 % if redeemed / switched out Schaeffler India Industrial Products 3.07% Industrial Capital Goods 6.23%
within 1 year from date of allotment, else nil
Ratios2 KNR Constructions Construction 2.99% Gas 3.29%
Standard Deviation 22.92% NCC Construction Project 2.88%
Beta (Slope) 1.11 Reverse Repos/TREPS 3.24%
Carborundum Universal Industrial Products 2.53%
Sharpe Ratio3 -0.39
Net Current Assets -0.58%
Month End Total Expenses Ratios Ahluwalia Contracts (India) Construction 2.28%
(Annualized)4
Sadbhav Engineering Construction Project 2.27%
Other than Direct5 2.62%
Portfolio Classification By Market Segment Class (%)
Direct 1.25% Mahindra Logistics Transportation 2.18%
Portfolio Turnover (1 year) 0.36 2.66% 0.64%
Kalpataru Power Transmission Power 2.14%
18.48%
Hindustan Petroleum Petroleum Products 2.08%
Dividend History (Rate `/Unit)
Corporation
Record Date Individual NAV (`)
Plans/Options /HUF Cum-Dividend Thermax Industrial Capital Goods 2.08%
Dividend 44.46%
Oberoi Realty Construction 2.06%
26-May-08 1.00 13.7160 33.76%
11-May-07 1.00 12.2390 The Phoenix Mills Construction 1.71%
Dividend is gross dividend. Upon payment of Ashoka Buildcon Construction Project 1.64%
dividend, the NAV per unit falls to the extent of
payout and statutory levy, if any. Face value: `10 per Srikalahasthi Pipes Ferrous Metals 1.59% Large Cap Small Cap Midcap Debt Others
unit. For complete dividend history, please refer our
website http://www.assetmanagement.hsbc.com/in JSW Energy Power 1.45%
1 Prestige Estates Projects Construction 1.31%
in multiples of Re 1 thereafter.
2
Ratios disclosed are as per monthly returns Bharat Electronics Industrial Capital Goods 1.29%
(Annualized) for the last 3 years.
3
Risk free rate: 5.05% (FIMMDA-NSE Mibor) as Honeywell Automation India Industrial Capital Goods 1.12%
on January 31, 2020)
4
TER Annualized TER including GST on Bharat Heavy Electricals Industrial Capital Goods 1.10%
Investment Management Fees
5
Continuing plans CMI Industrial Products 1.09%
Jindal Saw Ferrous Metals 0.93%
Macpower CNC machines Industrial Capital Goods 0.64%
Deccan Cements Cement 0.42%
Cash Equivalent 2.66%
TREPS* 3.24%
Net Current Assets: -0.58%
Total Net Assets as on 31-Jan-2020 100.00%
*TREPS : Tri-Party Repo
10HSBC Tax Saver Equity Fund Riskometer
Mo
An Open Ended Equity Linked Savings Scheme with a statutory lock - in of 3 years and tax benefit. l y d
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Investment Objective: Aims to provide long term capital appreciation by investing in a diversified portfolio of equity & equity Lo
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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
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would be achieved.
h
This product is suitable for investors who are seeking*:
LOW HIGH
• To create wealth over long term
• Invests in equity and equity related securities with no capitilastion bias Investors understand that their principal
will be at Moderately High risk
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Fund Details Issuer Industries % to Net Assets Sector Allocation
Date of Allotment 05-Jan-07 EQUITY 98.83%
Banks 39.10%
Benchmark S&P BSE 200 TRI ICICI Bank Banks 9.60%
Construction 6.63%
NAV (as on 31.1.20)
HDFC Bank Banks 9.31% Pharmaceuticals 5.56%
Growth ` 39.1557
Kotak Mahindra Bank Banks 6.61% Software 5.54%
Direct Growth ` 41.3821
Axis Bank Banks 6.03% Petroleum Products 5.11%
AUM (as on 31.1.20) ` 157.33 Cr
AAUM (for the month of Jan) ` 158.96 Cr Construction Project 4.96%
Infosys Software 5.54%
Fund Manager & Experience Cement 3.99%
Reliance Industries Petroleum Products 5.11%
Gautam Bhupal Consumer Non Durables 3.97%
Total Experience 15 Years Larsen & Toubro Construction Project 4.96% Consumer Durables 3.94%
Managing this fund Since July 23, 2019 Maruti Suzuki India Auto 3.77% Auto 3.77%
Minimum Investment1 Telecom - Services
AU Small Finance Bank Banks 3.08% 2.63%
Lumpsum ` 5,000
Auto Ancillaries 2.37%
SIP ` 500 ACC Cement 2.96%
Industrial Products 2.30%
Additional Purchase ` 1,000 Bharti Airtel Telecom - Services 2.63%
Finance 1.90%
Entry load : “NA”
Torrent Pharmaceuticals Pharmaceuticals 2.58% Hotels, Resorts And Other
Exit load : Nil 1.54%
Recreational Activities
Ratios2 State Bank of India Banks 2.53% Healthcare Services 1.27%
Standard Deviation 14.31% Orient Electric Consumer Durables 2.40% Media & Entertainment 1.17%
Beta (Slope) 1.03 Textile Products 1.08%
MRF Auto Ancillaries 2.37%
Sharpe Ratio3 0.35 Retailing 1.01%
GlaxoSmithKline Consumer Consumer Non Durables 2.36%
Month End Total Expenses Ratios Transportation 0.99%
Healthcare
(Annualized)4 Reverse Repos/TREPS 1.02%
Other than Direct5 2.53% Oberoi Realty Construction 2.08%
Net Current Assets 0.15%
Direct 1.24%
DLF Construction 2.02%
Portfolio Turnover (1 year) 0.62
The Federal Bank Banks 1.94%
Portfolio Classification By Market Segment Class (%)
Dividend History (Rate `/Unit)
SBI Life Insurance Company Finance 1.90%
Record Date Individual NAV (`) 9.81% 1.17%
Plans/Options /HUF Cum-Dividend United Breweries Consumer Non Durables 1.61%
Dividend The Indian Hotels Company Hotels/ Resorts And Other 1.54%
27-Jan-20 1.54946 21.5978 Recreational Activities
24-Jan-19 1.54946 20.7121 Crompton Greaves Cons Consumer Durables 1.54% 17.28%
30-Jan-18 2.50000 26.4229 Electrical
Dividend - Direct 71.74%
Somany Ceramics Construction 1.28%
27-Jan-20 1.77082 22.8954
Apollo Hospitals Enterprise Healthcare Services 1.27%
24-Jan-19 1.77082 21.9059
30-Jan-18 2.50000 27.6259 KEI Industries Industrial Products 1.26%
Dividend is gross dividend. Upon payment of The Phoenix Mills Construction 1.25%
Large Cap Midcap Small Cap Debt
dividend, the NAV per unit falls to the extent of
Sun Pharmaceutical Industries Pharmaceuticals 1.23%
payout and statutory levy, if any. Face value: `10 per
unit. For complete dividend history, please refer our Abbott India Pharmaceuticals 1.18%
website http://www.assetmanagement.hsbc.com/in
Inox Leisure Media & Entertainment 1.17%
1
in multiples of Re 1 thereafter.
2 Arvind Textile Products 1.08%
Ratios disclosed are as per monthly returns
(Annualized) for the last 3 years. Nilkamal Industrial Products 1.04%
3
Risk free rate: 5.05% (FIMMDA-NSE Mibor) as on
January 31, 2020) Dalmia Bharat Cement 1.03%
4
TER Annualized TER including GST on Investment V-Mart Retail Retailing 1.01%
Management Fees
5
Continuing plans Adani Ports & Special Transportation 0.99%
Economic Zone
Eris Lifesciences Pharmaceuticals 0.57%
Cash Equivalent 1.17%
TREPS* 1.02%
Net Current Assets: 0.15%
Total Net Assets as on 31-Jan-2020 100.00%
*TREPS : Tri-Party Repo
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