HSBC Business Cycles Fund Direct Growth

Fund Overview

Fund Size

₹1,124 Cr

Expense Ratio

1.08%

ISIN

INF917K01RI2

Minimum SIP

₹1,000

Exit Load

1.00%

Inception Date

20 Aug 2014

About this fund

HSBC Business Cycles Fund Direct Growth is a Equity - Other mutual fund schemes offered by HSBC Mutual Fund. This fund has been in existence for 10 years, 11 months and 24 days, having been launched on 20-Aug-14.
As of 12-Aug-25, it has a Net Asset Value (NAV) of ₹46.51, Assets Under Management (AUM) of 1124.01 Crores, and an expense ratio of 1.08%.

HSBC Business Cycles Fund Direct Growth has given a CAGR return of 15.03% since inception.
The fund's asset allocation comprises around 93.70% in equities, 0.00% in debts, and 6.30% in cash & cash equivalents.
You can start investing in HSBC Business Cycles Fund Direct Growth with a SIP of ₹1000 or a Lumpsum investment of ₹5000.

Performance against Category Average

In this section, we compare the returns of the scheme with the category average over various periods. Periods for which the fund has outperformed its category average are marked in green, otherwise red.

1 Year

+3.22%

— (Cat Avg.)

3 Years

+22.25%

— (Cat Avg.)

5 Years

+26.91%

— (Cat Avg.)

10 Years

+14.03%

— (Cat Avg.)

Since Inception

+15.03%

— (Cat Avg.)

Portfolio Summaryas of 31st July 2025

Equity	₹1,053.23 Cr	93.70%
Others	₹70.78 Cr	6.30%

Top Holdings

All Holdings

Equity

Debt & Others

Name	Type	Amount	Holdings
Treps	Cash - Repurchase Agreement	₹70.39 Cr	6.26%
ICICI Bank Ltd	Equity	₹62.96 Cr	5.60%
Reliance Industries Ltd	Equity	₹55.84 Cr	4.97%
Multi Commodity Exchange of India Ltd	Equity	₹54.7 Cr	4.87%
HDFC Bank Ltd	Equity	₹49.81 Cr	4.43%
Trent Ltd	Equity	₹48.01 Cr	4.27%
Power Mech Projects Ltd	Equity	₹28.38 Cr	2.52%
Ahluwalia Contracts (India) Ltd	Equity	₹28.11 Cr	2.50%
Hindustan Aeronautics Ltd Ordinary Shares	Equity	₹26.07 Cr	2.32%
Bharat Electronics Ltd	Equity	₹25.83 Cr	2.30%
Swiggy Ltd	Equity	₹25.74 Cr	2.29%
Mangalore Chemicals & Fertilizers Ltd	Equity	₹25.16 Cr	2.24%
Power Finance Corp Ltd	Equity	₹24.73 Cr	2.20%
Larsen & Toubro Ltd	Equity	₹24.18 Cr	2.15%
UltraTech Cement Ltd	Equity	₹24.01 Cr	2.14%
Kotak Mahindra Bank Ltd	Equity	₹21.82 Cr	1.94%
PB Fintech Ltd	Equity	₹21.59 Cr	1.92%
Kirloskar Pneumatic Co Ltd	Equity	₹21.2 Cr	1.89%
Eternal Ltd	Equity	₹19.78 Cr	1.76%
Time Technoplast Ltd	Equity	₹19.26 Cr	1.71%
Amber Enterprises India Ltd Ordinary Shares	Equity	₹18.71 Cr	1.66%
State Bank of India	Equity	₹18.23 Cr	1.62%
ABB India Ltd	Equity	₹17.96 Cr	1.60%
Aditya Birla Real Estate Ltd	Equity	₹16.45 Cr	1.46%
GE Vernova T&D India Ltd	Equity	₹16.09 Cr	1.43%
Epigral Ltd	Equity	₹15.42 Cr	1.37%
PNB Housing Finance Ltd	Equity	₹15.25 Cr	1.36%
Blue Star Ltd	Equity	₹15.23 Cr	1.35%
Motilal Oswal Financial Services Ltd	Equity	₹15.03 Cr	1.34%
Gokaldas Exports Ltd	Equity	₹15 Cr	1.33%
TVS Motor Co Ltd	Equity	₹14.01 Cr	1.25%
KEC International Ltd	Equity	₹13.74 Cr	1.22%
Indian Hume Pipe Co Ltd	Equity	₹13.65 Cr	1.21%
BSE Ltd	Equity	₹13.3 Cr	1.18%
Suzlon Energy Ltd	Equity	₹12.57 Cr	1.12%
TBO Tek Ltd	Equity	₹12.5 Cr	1.11%
Mold-tek Packaging Ltd	Equity	₹12.2 Cr	1.09%
Gujarat Fluorochemicals Ltd Ordinary Shares	Equity	₹11.36 Cr	1.01%
Devyani International Ltd	Equity	₹10.59 Cr	0.94%
Bansal Wire Industries Ltd	Equity	₹9.91 Cr	0.88%
Hindalco Industries Ltd	Equity	₹9.88 Cr	0.88%
EIH Ltd	Equity	₹9.85 Cr	0.88%
Titan Co Ltd	Equity	₹9.71 Cr	0.86%
Brigade Enterprises Ltd	Equity	₹8.59 Cr	0.76%
Indo Count Industries Ltd	Equity	₹8.5 Cr	0.76%
Kajaria Ceramics Ltd	Equity	₹8.32 Cr	0.74%
Birla Corp Ltd	Equity	₹7.68 Cr	0.68%
Cholamandalam Investment and Finance Co Ltd	Equity	₹7.65 Cr	0.68%
NCC Ltd	Equity	₹7.31 Cr	0.65%
Sterling and Wilson Renewable Energy Ltd	Equity	₹7.2 Cr	0.64%
Aegis Logistics Ltd	Equity	₹6.85 Cr	0.61%
Ganesha Ecosphere Ltd	Equity	₹6.67 Cr	0.59%
REC Ltd	Equity	₹6.6 Cr	0.59%
PNC Infratech Ltd	Equity	₹6.14 Cr	0.55%
Amara Raja Energy & Mobility Ltd	Equity	₹5.79 Cr	0.52%
Pitti Engineering Ltd	Equity	₹5.6 Cr	0.50%
Motherson Sumi Wiring India Ltd	Equity	₹5.57 Cr	0.50%
PG Electroplast Ltd	Equity	₹5.47 Cr	0.49%
Bharat Bijlee Ltd	Equity	₹5.3 Cr	0.47%
Bank of Baroda	Equity	₹5.16 Cr	0.46%
IIFL Capital Services Ltd Ordinary Shares	Equity	₹4.73 Cr	0.42%
Jyoti CNC Automation Ltd	Equity	₹4.73 Cr	0.42%
Transformers & Rectifiers (India) Ltd	Equity	₹3.22 Cr	0.29%
Hi-Tech Pipes Ltd	Equity	₹2.35 Cr	0.21%
Net Current Assets (Including Cash & Bank Balances)	Cash	₹0.4 Cr	0.04%

Allocation By Market Cap (Equity)

Other Allocation

Equity Sector

Debt & Others

Sector	Amount	Holdings
Financial Services	₹321.56 Cr	28.61%
Industrials	₹289.43 Cr	25.75%
Consumer Cyclical	₹236.09 Cr	21.00%
Basic Materials	₹122.2 Cr	10.87%
Energy	₹62.7 Cr	5.58%
Technology	₹12.67 Cr	1.13%
Real Estate	₹8.59 Cr	0.76%

Risk & Performance Ratios

Fund Managers

Gautam Bhupal

Since June 2023

Sonal Gupta

Since June 2023

Additional Scheme Detailsas of 31st July 2025

ISIN

INF917K01RI2

Expense Ratio

1.08%

Exit Load

1.00%

Fund Size

₹1,124 Cr

Age

10 years 11 months

Lumpsum Minimum

₹5,000

Fund Status

Open Ended Investment Company

Benchmark

Nifty 500 TR INR

Investment Objective

To seek to generate long-term capital growth from an actively managed portfolio primarily of Equity and Equity Related Securities. Scheme shall invest in Indian equities,foreign equities and related instruments and debt securities.

Tax Treatment

Capital Gains Taxation:

Dividend Taxation:

Note: As per the Income Tax Budget 2024, mutual funds are subject to capital gains taxation, which includes surcharge and cess based on prevailing income tax rules and the investor’s income. Taxation applies only to realised gains, not notional gains. Please consult your tax advisors to determine the implications or consequences of your investments in such securities.

Similar Equity - Other Funds

Fund name	Expense Ratio	Exit Load	Fund size	1Y
Motilal Oswal Nifty Alpha 50 ETF Very High Risk	-	-	-	-
Bandhan Multi-Factor Fund Regular Growth Very High Risk	-	0.0%	₹487.98 Cr	-
Bandhan Multi-Factor Fund Direct Growth Very High Risk	-	0.0%	₹487.98 Cr	-
ICICI Prudential Active Momentum Fund Direct Growth Moderate Risk	-	1.0%	-	-
ICICI Prudential Active Momentum Fund Regular Growth Moderate Risk	-	1.0%	-	-
Axis Services Opportunities Fund Direct Growth Very High Risk	-	1.0%	₹1995.16 Cr	-
Axis Services Opportunities Fund Regular Growth Very High Risk	-	1.0%	₹1995.16 Cr	-
Nippon India MNC Fund Direct Growth Very High Risk	-	1.0%	-	-
Nippon India MNC Fund Regular Growth Very High Risk	-	1.0%	-	-
HDFC Innovation Fund Direct Growth Very High Risk	-	1.0%	-	-
HDFC Innovation Fund Regular Growth Very High Risk	-	1.0%	-	-
Mirae Asset Nifty India Internet ETF Very High Risk	-	-	-	-
Motilal Oswal Nifty India Tourism ETF Very High Risk	0.5%	-	₹1.37 Cr	-
Motilal Oswal Nifty India Manufacturing ETF Very High Risk	0.5%	-	₹5.27 Cr	-
Motilal Oswal Services Fund Direct Growth Very High Risk	2.6%	1.0%	₹41.81 Cr	-
Motilal Oswal Services Fund Regular Growth Very High Risk	2.7%	1.0%	₹41.81 Cr	-
ICICI Prudential Quality Fund Direct Growth Very High Risk	0.8%	1.0%	₹2108.60 Cr	-
ICICI Prudential Quality Fund Regular Growth Very High Risk	2.1%	1.0%	₹2108.60 Cr	-
Motilal Oswal Nifty Capital Market ETF Very High Risk	0.5%	-	₹4.63 Cr	-
Axis Nifty500 Momentum 50 ETF Very High Risk	-	-	-	-
Mirae Asset BSE Select IPO ETF Very High Risk	0.3%	-	₹14.71 Cr	-
Mirae Asset BSE Select IPO ETF Fund of Fund Regular Growth Very High Risk	1.0%	0.0%	₹14.71 Cr	-
Mirae Asset BSE Select IPO ETF Fund of Fund Direct Growth Very High Risk	0.5%	0.0%	₹14.71 Cr	-
Motilal Oswal Active Momentum Fund Direct Growth Very High Risk	2.6%	1.0%	₹123.53 Cr	-
Motilal Oswal Active Momentum Fund Regular Growth Very High Risk	2.7%	1.0%	₹123.53 Cr	-
Nippon India Active Momentum Fund Regular Growth Very High Risk	1.7%	1.0%	₹202.44 Cr	-
Nippon India Active Momentum Fund Direct Growth Very High Risk	0.7%	1.0%	₹202.44 Cr	-
Groww Nifty 200 ETF Very High Risk	0.3%	-	₹13.57 Cr	-
Groww Nifty 200 ETF FoF Direct Growth Very High Risk	0.1%	1.0%	₹4.79 Cr	-
Groww Nifty 200 ETF FoF Regular Growth Very High Risk	0.7%	1.0%	₹4.79 Cr	-
Invesco India Business Cycle Fund Direct Growth Very High Risk	0.7%	0.0%	₹567.37 Cr	-
Invesco India Business Cycle Fund Regular Growth Very High Risk	2.4%	0.0%	₹567.37 Cr	-
Kotak MSCI India ETF Very High Risk	0.4%	-	₹854.50 Cr	-
Motilal Oswal Innovation Opportunities Fund Direct Growth Very High Risk	1.0%	1.0%	₹283.72 Cr	-
Motilal Oswal Innovation Opportunities Fund Regular Growth Very High Risk	2.4%	1.0%	₹283.72 Cr	-
Groww Nifty India Railways PSU ETF Very High Risk	0.5%	-	₹65.04 Cr	-
ICICI Prudential Rural Opportunities Fund Regular Growth Moderate Risk	2.1%	1.0%	₹1708.70 Cr	-
ICICI Prudential Rural Opportunities Fund Direct Growth Moderate Risk	0.9%	1.0%	₹1708.70 Cr	-
WhiteOak Capital Quality Equity Fund Direct Growth Very High Risk	0.6%	1.0%	₹568.94 Cr	-
WhiteOak Capital Quality Equity Fund Regular Growth Very High Risk	2.3%	1.0%	₹568.94 Cr	-
UTI Quant Fund Regular Growth Very High Risk	2.0%	1.0%	₹1693.00 Cr	-
UTI Quant Fund Direct Growth Very High Risk	0.3%	1.0%	₹1693.00 Cr	-
ICICI Prudential Nifty Auto ETF Very High Risk	0.2%	-	₹167.65 Cr	-5.0%
ICICI Prudential Nifty 200 Quality 30 ETF Very High Risk	0.3%	-	₹176.45 Cr	-6.5%
ICICI Prudential Nifty Alpha Low Volatility 30 ETF Very High Risk	0.4%	-	₹1774.26 Cr	-11.2%
Mirae Asset Nifty India New Age Consumption ETF Very High Risk	0.3%	-	₹28.39 Cr	-
Mirae Asset Nifty India New Age Consumption ETF Fund of Fund Regular Growth Very High Risk	1.0%	0.0%	₹14.39 Cr	-
Mirae Asset Nifty India New Age Consumption ETF Fund of Fund Direct Growth Very High Risk	0.6%	0.0%	₹14.39 Cr	-
Edelweiss BSE Capital Markets & Insurance ETF Very High Risk	0.1%	-	₹17.13 Cr	-
Aditya Birla Sun Life Conglomerate Fund Regular Growth Very High Risk	2.1%	0.0%	₹1604.09 Cr	-

About the AMC

HSBC Mutual Fund

+91 22 66145000

https://www.assetmanagement.hsbc.co.in/en/mutual-funds

Total AUM

₹1,33,025 Cr

Address

16, V N Road, Mumbai, 400 001

Other Funds by HSBC Mutual Fund

Fund name	Expense Ratio	Exit Load	Fund size	1Y
HSBC Consumption Fund Direct Growth Very High Risk	0.8%	1.0%	₹1624.27 Cr	6.7%
HSBC Balanced Advantage Fund Direct Growth Moderately High risk	0.9%	1.0%	₹1566.97 Cr	5.3%
HSBC Infrastructure Fund Direct Growth Very High Risk	1.1%	1.0%	₹2364.97 Cr	-6.7%
HSBC Aggressive Hybrid Fund Direct Growth Very High Risk	0.8%	1.0%	₹5513.48 Cr	2.2%
HSBC Value Fund Direct Growth Very High Risk	0.8%	1.0%	₹13816.77 Cr	3.2%
HSBC Credit Risk Fund Direct Growth Moderately High risk	0.9%	3.0%	₹647.91 Cr	21.7%
HSBC Banking & PSU Debt Direct Growth Moderate Risk	0.2%	0.0%	₹4675.91 Cr	8.6%
HSBC Midcap Fund Direct Growth Very High Risk	0.7%	1.0%	₹11845.25 Cr	1.2%
HSBC ELSS Fund Direct Growth Very High Risk	1.2%	0.0%	₹4143.69 Cr	1.5%
HSBC Equity Savings Fund Direct Growth Moderately High risk	0.7%	0.0%	₹655.42 Cr	4.6%
HSBC Low Duration Fund Direct Growth Low to Moderate Risk	0.4%	0.0%	₹848.15 Cr	9.7%
HSBC Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹4526.69 Cr	8.9%
HSBC Corporate Bond Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹6325.88 Cr	9.2%
HSBC Dynamic Bond Fund Direct Growth Moderate Risk	0.2%	0.0%	₹176.00 Cr	7.4%
HSBC Money Market Fund Direct Growth Low to Moderate Risk	0.1%	0.0%	₹4899.34 Cr	8.0%
HSBC Gilt Fund Direct Growth Moderate Risk	0.5%	0.0%	₹243.71 Cr	5.7%
HSBC Medium Duration Direct Growth Moderate Risk	0.4%	0.0%	₹740.64 Cr	9.3%
HSBC Focused Fund Direct Growth Very High Risk	1.0%	1.0%	₹1686.06 Cr	3.4%
HSBC Business Cycles Fund Direct Growth Very High Risk	1.1%	1.0%	₹1124.01 Cr	3.2%
HSBC Overnight Fund Direct Growth Low Risk	0.1%	0.0%	₹3607.92 Cr	6.3%
HSBC Conservative Hybrid Fund Direct Growth Moderately High risk	1.2%	0.0%	₹162.84 Cr	7.0%
HSBC Large Cap Fund Direct Growth Very High Risk	1.3%	1.0%	₹1848.84 Cr	-0.3%
HSBC Global Emerging Markets Fund Direct Growth Very High Risk	1.1%	1.0%	₹71.94 Cr	23.6%
HSBC Brazil Fund Direct Growth Very High Risk	1.0%	1.0%	₹96.34 Cr	7.2%
HSBC Medium to Long Duration Fund Direct Growth Moderate Risk	0.7%	0.0%	₹47.75 Cr	7.5%
HSBC Liquid Fund Direct Growth Low to Moderate Risk	0.1%	0.0%	₹18675.91 Cr	7.1%
HSBC Flexi Cap Fund Direct Growth Very High Risk	1.2%	1.0%	₹5074.87 Cr	1.6%
HSBC Tax Saver Equity Fund Direct Growth Very High Risk	1.8%	0.0%	₹249.72 Cr	8.4%
HSBC Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹2924.03 Cr	7.7%
HSBC CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹1893.37 Cr	8.7%
HSBC Small Cap Fund Direct Growth Very High Risk	0.6%	1.0%	₹16535.82 Cr	-5.9%
HSBC Global Equity Climate Change Fund of Fund Direct Growth Very High Risk	0.8%	1.0%	₹55.89 Cr	13.5%
HSBC Managed Solutions India Conservative Direct Growth Low to Moderate Risk	0.3%	0.0%	₹571.33 Cr	6.6%
HSBC Managed Solutions India Moderate Direct Growth Very High Risk	0.9%	1.0%	₹62.31 Cr	6.6%
HSBC Managed Solutions India Growth Direct Growth Very High Risk	0.9%	1.0%	₹41.57 Cr	2.3%
HSBC CRISIL IBX Gilt June 2027 Index Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹197.76 Cr	8.3%
HSBC Arbitrage Fund Direct Growth Low Risk	0.3%	0.0%	₹2510.99 Cr	7.2%
HSBC Nifty Next 50 Index Fund Direct Growth Very High Risk	0.3%	1.0%	₹134.89 Cr	-8.4%
HSBC Nifty 50 Index Fund Direct Growth Very High Risk	0.2%	1.0%	₹346.00 Cr	1.6%
HSBC Large & Mid Cap Fund Direct Growth Very High Risk	0.8%	1.0%	₹4313.79 Cr	-1.5%
HSBC Multi Cap Fund Direct Growth Very High Risk	0.8%	1.0%	₹4953.75 Cr	-0.1%
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund Direct Growth Very High Risk	1.0%	1.0%	₹20.33 Cr	25.9%

Risk Level

Your principal amount will be at Very High Risk

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Still got questions?
We're here to help.

What is the current NAV of HSBC Business Cycles Fund Direct Growth?

The NAV of HSBC Business Cycles Fund Direct Growth, as of 12-Aug-2025, is ₹46.51.

What are the returns of HSBC Business Cycles Fund Direct Growth?

The fund has generated 3.22% over the last 1 year and 22.25% over the last 3 years. However, this does not guarantee that the fund will perform similarly in the future.

What is the portfolio composition of HSBC Business Cycles Fund Direct Growth?

The fund's allocation of assets is distributed as 93.70% in equities, 0.00% in bonds, and 6.30% in cash and cash equivalents.

Who manages the HSBC Business Cycles Fund Direct Growth?

The fund managers responsible for HSBC Business Cycles Fund Direct Growth are:-

Gautam Bhupal
Sonal Gupta

Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. The past performance of the mutual funds is not necessarily indicative of the future performance of the schemes. Investors are requested to review the prospectus carefully and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment/participation in the scheme.

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Fund Overview

Fund Size

₹1,124 Cr

Expense Ratio

1.08%

ISIN

INF917K01RI2

Minimum SIP

₹1,000

Exit Load

1.00%

Inception Date

20 Aug 2014

Risk Level

Your principal amount will be at Very High Risk