HSBC Business Cycles Fund

Q: What are the returns of this mutual fund scheme?

The HSBC Business Cycles Fund is a 11 yrs 2 m old fund and has delivered average annual returns of 13.74% since inception. HSBC Business Cycles Fund Returns 1-Year 3-Year 5-Year 10-Year Since Inception -5.75% 20.79% 24.24% 13.44% 13.74%

Q: How much does this mutual fund charge as expense ratio?

The HSBC Business Cycles Fund has an expense ratio of 2.22% , representing the annual cost of managing and operating the fund. This fee is deducted from the fund's AUM while declaring the daily NAV, reducing investor returns.

NAV as of Sep 29, 2025	Returns since inception	ET Money Rank	AUM (Fund size)
₹41.8628+0.02% 1 day change	13.74% p.a.	App exclusive #NA View Ranked Funds	₹967 Cr

Historical NAV & returns

NAV: ₹41.8628 as on Sep 29, 2025

This fund Category average

HSBC Business Cycles Fund overview

AUM (Fund size)	₹967 Cr
Exit load	1.0% Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year.!
Lock-in Period	Nil
Age	11 yrs 2 m since Jul 30, 2014
Benchmark	NIFTY 500 TRI
Min. investment	SIP: ₹1000 & Lumpsum: ₹5000
Expense ratio	2.22% as on Aug 31, 2025
Plan type	Regular
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, returns above ₹1.25 lakh in a financial year are taxed at 12.5%

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 Sep 30, 2025

Period	This fund	Category average
1 Month	-0.86%	0.12%
3 Months	-6.29%	-2.86%
6 Months	7.59%	7.05%
1 Year	-5.75%	-6.53%
2 Years	20.9%	16.87%
3 Years	20.79%	18.29%
4 Years	16.57%	13.5%
5 Years	24.24%	22.0%
7 Years	16.8%	15.53%
10 Years	13.44%	14.35%

View returns in detail

Asset allocationas on Mar 31, 2025

Large Cap 45.64%

Mid Cap 10.55%

Small Cap 41.04%

Other Cap 0%

Top holdings

ICICI Bank Ltd.5.44%

Reliance Industries Ltd.4.99%

Multi Commodity Exchange Of India Ltd.4.81%

Trent Ltd.4.64%

Top sectors

Services 20.06%

Financial 19.96%

Capital Goods 15.870000000000001%

Construction 8.910000000000002%

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 5.42%

Net Current Assets 0.9%

Other Holdings

Others 0.9%

Detailed portfolio analysis

Peer comparison

Fund name	1M	6M	1Y	3Y	5Y	10Y
HSBC Business Cycles Fund	-0.86%	7.59%	-5.75%	20.79%	24.24%	13.44%
ICICI Prudential India Opportunities Fund	0.82%	7.25%	-1.31%	22.98%	31.72%	13.4%
ICICI Prudential Dividend Yield Equity Fund	0.79%	7.15%	-3.09%	24.13%	28.9%	15.93%
ICICI Prudential Value Fund	0.08%	6.99%	-1.34%	22.04%	26.25%	15.31%
SBI Contra Fund	0.42%	4.5%	-7.1%	20.0%	29.04%	15.93%
ICICI Prudential India Equity FOF	-0.19%	6.36%	-3.05%	21.09%	25.78%	11.83%

Fund name	Std. deviation	Beta	Sharpe	Sortino
HSBC Business Cycles Fund	16.78	1.11	0.76	1.08
ICICI Prudential India Opportunities Fund	11.64	0.82	1.23	2.44
ICICI Prudential Dividend Yield Equity Fund	12.35	0.86	1.21	1.99
ICICI Prudential Value Fund	11.4	0.8	1.18	2.13
SBI Contra Fund	12.25	0.88	1.01	1.65
ICICI Prudential India Equity FOF	11.94	0.87	1.06	1.8

Fund name	ETM Rank	AUM	Fund age	Expense ratio
HSBC Business Cycles Fund	N.A.	967 Cr	11 yrs 2 m	2.22%
ICICI Prudential India Opportunities Fund	N.A.	29,871 Cr	6 yrs 9 m	1.58%
ICICI Prudential Dividend Yield Equity Fund	N.A.	5,779 Cr	11 yrs 5 m	1.82%
ICICI Prudential Value Fund	N.A.	53,750 Cr	21 yrs 2 m	1.51%
SBI Contra Fund	N.A.	46,654 Cr	20 yrs 4 m	1.5%
ICICI Prudential India Equity FOF	N.A.	219 Cr	5 yrs 7 m	1.23%

View all Strategy funds

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

Alpha	3.87 vs. 4.64 Underperformed at beating benchmark
Sharpe	0.76 vs. 4.24 Poor risk-adjusted returns
Beta	1.11 vs. 0.71 More sensitive to market's ups & downs
Standard deviation	16.78 vs. 9.04 More volatile performance

Compare HSBC Business Cycles Fund in detail with

About this fund

About HSBC Business Cycles Fund

HSBC Business Cycles Fund is a Strategy mutual fund scheme from Hsbc Mutual Fund. This fund has been in existence for 11 yrs 2 m, having been launched on 30/07/2014. HSBC Business Cycles Fund 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 as of 29/09/2025 is ₹41.86. The fund has an expense ratio of 2.22%, which is higher than what most other Strategy funds charge.

HSBC Business Cycles Fund returns of last 1-year are -6.44%. Since launch, it has delivered 13.74% average annual returns. The fund has doubled the money invested in it every 4 yrs.
HSBC Business Cycles Fund 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 below average.
The fund has the majority of its money invested in Services, Financial, Capital Goods, Construction, Materials sectors. It has taken less exposure in Services, Financial sectors compared to other funds in the category.
The fund's top 5 holdings are in ICICI Bank Ltd., Reliance Industries Ltd., Multi Commodity Exchange Of India Ltd., Trent Ltd., HDFC Bank Ltd..

...

Fund AUM	967 Cr 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	44 view all schemes
Total AUM	1,29,985 Cr as on Jun 30, 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	1Y	5Y
HSBC Infrastructure Fund	N.A.	2,229 Cr	-10.92%	29.27%
HSBC Small Cap Fund	N.A.	14,493 Cr	-11.57%	29.01%
HSBC Value Fund	N.A.	12,600 Cr	-4.13%	25.41%
HSBC Midcap Fund	N.A.	11,470 Cr	-3.99%	23.07%
HSBC Large and Mid Cap Fund	N.A.	3,769 Cr	-4.28%	22.06%

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 plan is approximately ₹41.8628 as of Sep 29, 2025.

What are the returns of this mutual fund scheme?

The HSBC Business Cycles Fund is a 11 yrs 2 m old fund and has delivered average annual returns of 13.74% since inception.

HSBC Business Cycles Fund Returns

1-Year	3-Year	5-Year	10-Year	Since Inception
-5.75%	20.79%	24.24%	13.44%	13.74%

How much does this mutual fund charge as expense ratio?

The HSBC Business Cycles Fund has an expense ratio of 2.22%, representing the annual cost of managing and operating the fund. This fee is deducted from the fund's AUM while declaring the daily NAV, reducing investor returns.

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 Cr as on 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.	5.44%
Reliance Industries Ltd.	4.99%
Multi Commodity Exchange Of India Ltd.	4.81%
Trent Ltd.	4.64%
HDFC Bank Ltd.	4.3%
Hindustan Aeronautics Ltd.	2.53%
Power Mech Projects Ltd.	2.5%
Swiggy Ltd.	2.39%
Ahluwalia Contracts (India) Ltd.	2.32%
Bharat Electronics Ltd.	2.28%

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
Services	20.06%
Financial	19.96%
Capital Goods	15.870000000000001%
Construction	8.910000000000002%
Materials	7.83%
Energy	4.99%
Chemicals	4.51%
Consumer Discretionary	3.8%
Textiles	2.3000000000000003%
Automobile	2.09%

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 can I redeem my investments in HSBC Business Cycles Fund?

Redeeming your investments in the HSBC Business Cycles Fund is simple. If you have invested via ET Money, just log in to the app, go to the holdings section, and submit the redemption request.

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

ET Money rank

App exclusive

in Strategy

#NA

Return Outperformance: This fund has generated highest return amongst Strategy funds in the last 10 Years.
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.