HSBC Business Cycles Fund Direct-Growth

Q: What are the returns of HSBC Business Cycles Fund?

The HSBC Business Cycles Fund is a 10 yrs 10 m old fund and has delivered average annual returns of 15.46% since inception. HSBC Business Cycles Fund Returns 1-Year 3-Year 5-Year 10-Year Since Inception 12.96% 27.21% 29.56% 14.93% 15.46%

NAV as of Jun 05, 2025	Returns since inception	ET Money Rank	AUM (Fund size)
₹47.2981+1.05% 1 day change	15.46% p.a.	#NA View Ranked Funds	₹967 Crs

Historical NAV & returns

NAV: ₹47.2981 as on Jun 05, 2025

This fund Category average

HSBC Business Cycles Fund overview

Expense ratio	1.09% as on May 31, 2025
Exit load	1.0% Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year.!
AUM (Fund size)	₹967 Crs
Lock-in	No Lockin
Age	10 yrs 10 m since Jul 30, 2014
Benchmark	NIFTY 500 TRI
Min. investment	SIP ₹500 & Lump. ₹5000
Risk	Very High
Short term capital gains (STCG)	Returns taxed at 20% if you redeem before 1 year
Long term capital gains (LTCG)	After 1 year, pay tax of 12.5% on returns of ₹1.25 lakh+ in a financial year

HSBC Business Cycles Fund Returns calculator

Investment type

Monthly investment

₹ 10,000

Investment period

Lumpsum investment

₹1 lakh

Investment period

Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully. Past performance is not an indicator of future returns.

Total investment ₹ 12 lakh
Profit ₹12 lakhs
Total corpus ₹1 lakh
Absolute return 52.69%

Trailing returns as on Jun 06, 2025

Period	This fund	Category average
1 Month	9.69%	4.88%
3 Months	19.7%	11.29%
6 Months	-4.27%	-2.92%
1 Year	12.96%	8.57%
2 Years	29.12%	24.09%
3 Years	27.21%	22.07%
4 Years	21.7%	17.96%
5 Years	29.56%	25.81%
7 Years	16.43%	16.3%
10 Years	14.93%	15.42%

View returns in detail

Asset allocationas on Mar 31, 2025

Large Cap 45.639762%

Mid Cap 10.549455%

Small Cap 41.040783000000005%

Other Cap 0.0%

Top holdings

ICICI Bank Ltd.5.92%

Reliance Industries Ltd.5.29%

Trent Ltd.5.27%

Multi Commodity Exchange Of India Ltd.5.18%

Top sectors

Financial 21.290000000000003%

Services 18.45%

Capital Goods 16.659999999999997%

Construction 10.579999999999998%

Credit quality

Bifurcation by Credit Quality is not available for this fund

Top Debt Holdings

Bifurcation by Holding is not available for this fund

Allocation by Instruments

Repo 2.83%

Other Holdings

Others 2.83%

Detailed portfolio analysis

Peer comparison

Fund name	ETM Rank	AUM (in Crs.)	Fund age	Expense ratio
HSBC Business Cycles Fund	N.A.	₹967 Crs	10 yrs 10 m	1.09%
ICICI Prudential India Opportunities Fund	N.A.	₹27,197 Crs	6 yrs 5 m	0.63%
SBI Contra Fund	N.A.	₹44,069 Crs	12 yrs 5 m	0.62%
ICICI Prudential Value Discovery Fund	N.A.	₹51,112 Crs	12 yrs 5 m	0.99%
ICICI Prudential Dividend Yield Equity Fund	N.A.	₹5,231 Crs	11 yrs 1 m	0.58%
ICICI Prudential India Equity FOF	N.A.	₹168 Crs	5 yrs 4 m	0.63%

Fund name	1M	6M	1Y	3Y	5Y	10Y
HSBC Business Cycles Fund	9.69%	-4.27%	12.96%	27.21%	29.56%	14.93%
ICICI Prudential India Opportunities Fund	3.12%	2.13%	14.56%	27.6%	32.99%	14.27%
SBI Contra Fund	2.68%	-2.65%	6.83%	25.09%	34.48%	17.15%
ICICI Prudential Value Discovery Fund	2.66%	1.93%	13.95%	23.83%	28.82%	16.1%
ICICI Prudential Dividend Yield Equity Fund	2.13%	1.19%	10.97%	26.7%	32.59%	17.15%
ICICI Prudential India Equity FOF	3.03%	-0.4%	11.61%	23.28%	28.77%	12.18%

Fund name	Std. deviation	Beta	Sharpe	Sortino
HSBC Business Cycles Fund	17.88	1.11	1.05	1.47
ICICI Prudential India Opportunities Fund	12.33	0.8	1.52	3.0
SBI Contra Fund	12.89	0.86	1.32	2.19
ICICI Prudential Value Discovery Fund	12.0	0.77	1.32	2.3
ICICI Prudential Dividend Yield Equity Fund	13.04	0.84	1.42	2.3
ICICI Prudential India Equity FOF	12.58	0.84	1.22	2.02

View all Strategy funds

Key risk & return ratios Compared to other funds in the category

Alpha	5.96 vs. 5.56 Higher outperformance against benchmark
Sharpe	1.05 vs. 5.86 Poor risk-adjusted returns
Beta	1.11 vs. 0.85 More sensitive to market's ups & downs
Standard deviation	17.88 vs. 9.89 More volatile performance

Compare HSBC Business Cycles Fund in detail with

About this fund

About HSBC Business Cycles Fund

HSBC Business Cycles Fund Direct-Growth is a Strategy mutual fund scheme from Hsbc Mutual Fund. This fund has been in existence for 10 yrs 10 m, having been launched on 30/07/2014. HSBC Business Cycles Fund Direct-Growth has ₹967 Crores worth of assets under management (AUM) as on 31/03/2025 and is medium-sized fund of its category. The latest Net Asset Value (NAV) of HSBC Business Cycles Fund Direct-Growth as of 05/06/2025 is ₹47.30. The fund has an expense ratio of 1.09%, which is higher than what most other Strategy funds charge.

HSBC Business Cycles Fund Direct-Growth returns of last 1-year are 16.34%. Since launch, it has delivered 15.47% average annual returns. The fund has doubled the money invested in it every 3 yrs.
HSBC Business Cycles Fund Direct-Growth scheme's ability to deliver returns consistently is in-line with most funds of its category. Its ability to control losses in a falling market is average.
The fund has the majority of its money invested in Financial, Services, Capital Goods, Construction, Materials sectors. It has taken less exposure in Financial, Services sectors compared to other funds in the category.
The fund's top 5 holdings are in ICICI Bank Ltd., Reliance Industries Ltd., Trent Ltd., Multi Commodity Exchange Of India Ltd., HDFC Bank Ltd..

...

Fund AUM	₹967 Crs as on Mar 31, 2025
Scheme document	View Scheme Document

Fund managers

Gautam Bhupal

Mr. Bhupal holds a PGDBM and is a CA, CS and B.Com (Hons) Prior to joining HSBC Mutual Fund he was working with IDFC Asset Management Company Ltd., Motilal Oswal Securities Ltd., Infosys Ltd., Vickers Ballas Securities Ltd., SBC Warburg, UTI Securities Ltd.

Investment objective

The scheme seeks to generate long term capital appreciation from a portfolio of 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.

HSBC Mutual Fund details

No. of schemes	38 view all schemes
Total AUM	₹1,24,514 Crs as on Mar 31, 2025
Address	9-11th Floor, NESCO - IT Park Bldg. 3, Western Express Highway, Goregaon East, Mumbai, 400063

More funds from HSBC Mutual Fund

Fund name	ETM Rank	AUM (in Crs.)	1Y	5Y
HSBC Small Cap Fund	N.A.	₹14,493 Crs	4.96%	36.79%
HSBC Infrastructure Fund	N.A.	₹2,229 Crs	1.48%	32.33%
HSBC Value Fund	N.A.	₹12,600 Crs	8.65%	30.72%
HSBC Midcap Fund	N.A.	₹10,362 Crs	11.0%	28.42%
HSBC Large and Mid Cap Fund	N.A.	₹3,769 Crs	8.8%	26.01%

See all Equity funds from this AMC

Frequently asked questions

What is the current NAV of HSBC Business Cycles Fund?

The current Net Asset Value (NAV) of the HSBC Business Cycles Fund - Direct Growth plan is approximately ₹47.2981 as of Jun 05, 2025.

What are the returns of this mutual fund scheme?

The HSBC Business Cycles Fund is a 10 yrs 10 m old fund and has delivered average annual returns of 15.46% since inception.

HSBC Business Cycles Fund Returns

1-Year	3-Year	5-Year	10-Year	Since Inception
12.96%	27.21%	29.56%	14.93%	15.46%

How much does this mutual fund charge as expense ratio?

The HSBC Business Cycles Fund - Direct Growth has an expense ratio of 1.09%, which reflects the fund's management and operating costs. This percentage is subtracted from the fund's annual returns, impacting net returns for investors.

What is the AUM or fund size of this mutual fund?

The HSBC Business Cycles Fund currently has assets under management (AUM) or fund size valued at approximately ₹967 Crs crore as of Mar 31, 2025.

What are the top stock holdings of HSBC Business Cycles Fund?

The HSBC Business Cycles Fund has invested the majority of its money in the stocks of the following companies -

Company	Percentage of Portfolio
ICICI Bank Ltd.	5.92%
Reliance Industries Ltd.	5.29%
Trent Ltd.	5.27%
Multi Commodity Exchange Of India Ltd.	5.18%
HDFC Bank Ltd.	4.66%
Bharat Electronics Ltd.	3.11%
Larsen & Toubro Ltd.	2.95%
Blue Star Ltd.	2.65%
Power Finance Corporation Ltd.	2.58%
Power Mech Projects Ltd.	2.55%

What are the top sectors HSBC Business Cycles Fund has invested in?

The HSBC Business Cycles Fund has primarily invested in the following sectors

Sector	Percentage of Portfolio
Financial	21.290000000000003%
Services	18.45%
Capital Goods	16.659999999999997%
Construction	10.579999999999998%
Materials	6.62%
Consumer Discretionary	5.32%
Energy	5.29%
Chemicals	4.449999999999999%
Textiles	2.71%
Metals & Mining	2.3%

What is risk level of HSBC Business Cycles Fund?

This is a Strategy fund comes with Very High risk.

Is there any lock-in period in this mutual fund?

No, this fund does not have any lock-in period.

How do I invest in HSBC Business Cycles Fund?

It is very fast, easy, and completely paperless in this mutual fund scheme on ET Money. It is just a matter of a few minutes. Here's how:

For the Desktop Version:

Click on the "Invest Now" button at the top right, then scan the QR code to download the app.

For the Mobile Version:

Click on the "Invest on App" button at the bottom to download the app.
Once the app is downloaded:
Sign-up and complete your one time KYC process, or log in if you're already registered.
Search for HSBC Business Cycles Fund and choose the investment mode (Lump sum investment or a SIP). Then, enter your investment amount.
Fill in additional required details, including the bank account you'll use for payment, and confirm.

All set! Your investment in HSBC Business Cycles Fund is complete.

How can I redeem my investments in HSBC Business Cycles Fund?

Redeeming your investments in HSBC Business Cycles Fund is super easy. If you have invested in this fund via ET Money, just login into the app, go to the investment section and put the redemption request.

If you have invested in HSBC Business Cycles Fund from anywhere else, you can go to the fund house website and put a request through it.

ET Money rank

in Strategy

#NA

Return Outperformance: This fund has generated highest return amongst Strategy funds in the last 10 Years.
Volatility Protection: This fund ranks lower in terms of protecting against volatility within its category.
Return/Risk: The fund is performing poorly than its category.
Exit Load: Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year.