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HSBC Ultra Short Duration Fund Direct Growth
DebtUltra Short DurationLow to Moderate Risk
Direct
NAV (22-Jan-26)
₹1419.030.05%1D
Returns (Since Inception)
6.02%
Rated ★4.3+ on 
Fund Overview
Fund Size
₹3,014 Cr
Expense Ratio
0.16%
ISIN
INF336L01OR1
Minimum SIP
₹1,000
Exit Load
No Charges
Inception Date
29 Jan 2020
About this fund
HSBC Ultra Short Duration Fund Direct Growth is a Ultra Short Duration mutual fund schemes offered by HSBC Mutual Fund. This fund has been in existence for 5 years, 11 months and 25 days, having been launched on 29-Jan-20.
As of 22-Jan-26, it has a Net Asset Value (NAV) of ₹1419.03, Assets Under Management (AUM) of 3014.42 Crores, and an expense ratio of 0.16%.
As of 22-Jan-26, it has a Net Asset Value (NAV) of ₹1419.03, Assets Under Management (AUM) of 3014.42 Crores, and an expense ratio of 0.16%.
- HSBC Ultra Short Duration Fund Direct Growth has given a CAGR return of 6.02% since inception.
- The fund's asset allocation comprises around 0.00% in equities, 24.20% in debts, and 75.54% in cash & cash equivalents.
- You can start investing in HSBC Ultra Short Duration 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
+6.99%
+6.38% (Cat Avg.)
3 Years
+7.33%
+6.74% (Cat Avg.)
5 Years
+6.15%
+5.74% (Cat Avg.)
Since Inception
+6.02%
— (Cat Avg.)
Portfolio Summaryas of 15th January 2026
| Debt | ₹729.6 Cr | 24.20% |
| Others | ₹2,284.82 Cr | 75.80% |
Top Holdings
All Holdings
Equity
Debt & Others
| Name | Type  | Amount | Holdings |
|---|---|---|---|
| Net Current Assets (Including Cash & Bank Balances) | Cash | ₹-314.92 Cr | 9.20% |
| Treps | Cash - Repurchase Agreement | ₹300.25 Cr | 8.77% |
| India (Republic of) | Bond - Short-term Government Bills | ₹149.27 Cr | 4.36% |
| Punjab National Bank | Cash - CD/Time Deposit | ₹99.7 Cr | 2.91% |
| Aditya Birla Capital Limited | Cash - Commercial Paper | ₹99.25 Cr | 2.90% |
| Icici Securities Limited (Earlier Icici Brokerage Services Limited) | Cash - Commercial Paper | ₹98.87 Cr | 2.89% |
| State Bank of India | Bond - Corporate Bond | ₹98.83 Cr | 2.89% |
| Kotak Mahindra Bank Limited** | Cash - CD/Time Deposit | ₹97.77 Cr | 2.86% |
| ICICI Securities Limited | Cash - Commercial Paper | ₹97.32 Cr | 2.84% |
| Aditya Birla Housing Finance Ltd. | Cash - Commercial Paper | ₹97.31 Cr | 2.84% |
| India (Republic of) | Bond - Short-term Government Bills | ₹94.64 Cr | 2.77% |
| Canara Bank** | Cash - CD/Time Deposit | ₹82.93 Cr | 2.42% |
| Axis Securities Limited | Cash - Commercial Paper | ₹74.52 Cr | 2.18% |
| Axis Bank Limited | Cash - CD/Time Deposit | ₹73.56 Cr | 2.15% |
| Canara Bank | Cash - CD/Time Deposit | ₹73.42 Cr | 2.15% |
| HDFC Bank Limited | Cash - CD/Time Deposit | ₹73.3 Cr | 2.14% |
| Indian Bank | Cash - CD/Time Deposit | ₹73.17 Cr | 2.14% |
| Embassy Office Parks Reit | Cash - Commercial Paper | ₹72.86 Cr | 2.13% |
| Bank Of Baroda | Cash - CD/Time Deposit | ₹70.78 Cr | 2.07% |
| Mindspace Business Parks Reit | Cash - Commercial Paper | ₹63.54 Cr | 1.86% |
| Small Industries Development Bank Of India | Bond - Corporate Bond | ₹54.31 Cr | 1.59% |
| National Bank For Agriculture And Rural Development | Bond - Corporate Bond | ₹53.65 Cr | 1.57% |
| Rec Limited | Bond - Corporate Bond | ₹52.74 Cr | 1.54% |
| 08.47 MH Sdl 2026 | Bond - Gov't/Treasury | ₹51.93 Cr | 1.52% |
| Bajaj Housing Finance Limited | Bond - Corporate Bond | ₹51.56 Cr | 1.51% |
| Small Industries Development Bank Of India | Bond - Corporate Bond | ₹51.38 Cr | 1.50% |
| LIC Housing Finance Ltd | Bond - Corporate Bond | ₹50.54 Cr | 1.48% |
| Mindspace Business Parks Reit | Bond - Corporate Bond | ₹50.04 Cr | 1.46% |
| 364 DTB 29012026 | Bond - Gov't/Treasury | ₹49.91 Cr | 1.46% |
| Indian Bank | Cash - CD/Time Deposit | ₹49.84 Cr | 1.46% |
| National Bank For Agriculture And Rural Development | Cash - CD/Time Deposit | ₹49.83 Cr | 1.46% |
| LIC Housing Finance Ltd | Cash - Commercial Paper | ₹49.72 Cr | 1.45% |
| Union Bank Of India | Cash - CD/Time Deposit | ₹49.7 Cr | 1.45% |
| Canara Bank | Bond - Gov't Agency Debt | ₹49.64 Cr | 1.45% |
| Small Industries Development Bank Of India | Cash - CD/Time Deposit | ₹49.64 Cr | 1.45% |
| Icici Securities Limited (Earlier Icici Brokerage Services Limited) | Cash - Commercial Paper | ₹49.62 Cr | 1.45% |
| HDFC Securities Limited | Cash - Commercial Paper | ₹49.5 Cr | 1.45% |
| Tata Capital Housing Finance Limited | Cash - Commercial Paper | ₹49.42 Cr | 1.44% |
| India (Republic of) | Bond - Short-term Government Bills | ₹49.25 Cr | 1.44% |
| Bank of Baroda | Bond - Corporate Bond | ₹48.86 Cr | 1.43% |
| 364 Days Tbill 2026 | Bond - Gov't/Treasury | ₹48.84 Cr | 1.43% |
| Tata Capital Limited | Cash - Commercial Paper | ₹48.81 Cr | 1.43% |
| Union Bank of India | Bond - Gov't Agency Debt | ₹48.73 Cr | 1.42% |
| Axis Bank Limited | Cash - CD/Time Deposit | ₹48.66 Cr | 1.42% |
| Axis Bank Limited | Cash - CD/Time Deposit | ₹48.65 Cr | 1.42% |
| HDFC Bank Limited | Cash - CD/Time Deposit | ₹48.14 Cr | 1.41% |
| Bharti Telecom Limited | Cash - Commercial Paper | ₹47.54 Cr | 1.39% |
| Axis Bank Ltd | Cash - CD/Time Deposit | ₹47.15 Cr | 1.38% |
| HDFC Bank Ltd | Cash - CD/Time Deposit | ₹46.95 Cr | 1.37% |
| Kotak Mahindra Bank Ltd. | Bond - Corporate Bond | ₹46.83 Cr | 1.37% |
| National Bank for Agriculture and Rural Development | Bond - Gov't Agency Debt | ₹46.75 Cr | 1.37% |
| Small Industries Development Bank of India | Bond - Corporate Bond | ₹46.73 Cr | 1.37% |
| Rec Limited | Bond - Corporate Bond | ₹26.87 Cr | 0.79% |
| National Bank For Agriculture And Rural Development | Bond - Corporate Bond | ₹25.81 Cr | 0.75% |
| Mindspace Business Parks Reit | Bond - Corporate Bond | ₹25.14 Cr | 0.73% |
| Embassy Office Parks Reit | Bond - Corporate Bond | ₹25.04 Cr | 0.73% |
| 364 DTB 19mar2026 | Bond - Gov't/Treasury | ₹24.78 Cr | 0.72% |
| Small Industries Development Bank Of India | Cash - CD/Time Deposit | ₹24.77 Cr | 0.72% |
| Canara Bank (13/03/2026) | Cash - CD/Time Deposit | ₹24.76 Cr | 0.72% |
| Tata Capital Housing Finance Limited | Cash - Commercial Paper | ₹24.32 Cr | 0.71% |
| Canara Bank | Bond - Gov't Agency Debt | ₹23.41 Cr | 0.68% |
| INDIA UNIVERSAL TRUST AL2 | Bond - Asset Backed | ₹19.68 Cr | 0.58% |
| CDMDF CLASS A2 | Mutual Fund - Open End | ₹8.78 Cr | 0.26% |
| Embassy Office Parks Reit | Bond - Corporate Bond | ₹7.5 Cr | 0.22% |
| Rec_ois &Pay_6.2175%_06/03/26 | Interest Rate Swap | ₹-0.33 Cr | 0.01% |
Allocation By Credit Quality (Debt)
AAA
Other Allocation
Equity Sector
Debt & Others
| Instruments | Amount | Holdings |
|---|---|---|
| Cash - CD/Time Deposit | ₹1,132.73 Cr | 33.10% |
| Cash - Commercial Paper | ₹922.59 Cr | 26.96% |
| Bond - Corporate Bond | ₹715.86 Cr | 20.92% |
| Cash | ₹-314.92 Cr | 9.20% |
| Cash - Repurchase Agreement | ₹300.25 Cr | 8.77% |
| Bond - Short-term Government Bills | ₹293.16 Cr | 8.57% |
| Bond - Gov't/Treasury | ₹175.45 Cr | 5.13% |
| Bond - Gov't Agency Debt | ₹168.52 Cr | 4.92% |
| Bond - Asset Backed | ₹19.68 Cr | 0.58% |
| Mutual Fund - Open End | ₹8.78 Cr | 0.26% |
| Interest Rate Swap | ₹-0.33 Cr | 0.01% |
Risk & Performance Ratios
Standard Deviation
This fund
0.27%
Cat. avg.
0.46%
Lower the better
Sharpe Ratio
This fund
2.68
Cat. avg.
0.71
Higher the better
Sortino Ratio
This fund
--
Cat. avg.
8.96
Higher the better
Fund Managers
MC
Mahesh Chhabria
Since November 2022
RT
Rahul Totla
Since January 2026
Additional Scheme Detailsas of 15th January 2026
ISIN INF336L01OR1 | Expense Ratio 0.16% | Exit Load No Charges | Fund Size ₹3,014 Cr | Age 5 years 11 months | Lumpsum Minimum ₹5,000 | Fund Status Open Ended Investment Company | Benchmark NIFTY Ultra Short Duration Debt 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 Ultra Short Duration Funds
About the AMC
HSBC Mutual Fund
Total AUM
₹1,40,131 Cr
Address
16, V N Road, Mumbai, 400 001
Other Funds by HSBC Mutual Fund
Risk Level
Your principal amount will be at Low to Moderate Risk
Take control of your wealth
Related Articles
Still got questions?
We're here to help.
What is the current NAV of HSBC Ultra Short Duration Fund Direct Growth?
The NAV of HSBC Ultra Short Duration Fund Direct Growth, as of 22-Jan-2026, is ₹1419.03.
What are the returns of HSBC Ultra Short Duration Fund Direct Growth?
The fund has generated 6.99% over the last 1 year and 7.33% 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 Ultra Short Duration Fund Direct Growth?
The fund's allocation of assets is distributed as 0.00% in equities, 24.20% in bonds, and 75.54% in cash and cash equivalents.
Who manages the HSBC Ultra Short Duration Fund Direct Growth?
The fund managers responsible for HSBC Ultra Short Duration Fund Direct Growth are:-
- Mahesh Chhabria
- Rahul Totla
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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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Dezerv Investments Pvt. Ltd. is a Portfolio Manager with SEBI Registration no. INP000007377, a member of BSE with SEBI Stock Broker Registration no. INZ000303136, and an Investment Manager to Category - I AIF-VCF-Angel Fund with SEBI Registration no. IN/AIF1/22-23/1066.
Mutual Fund distribution services are offered through Dezerv Distribution Services Pvt Limited, a wholly owned subsidiary with AMFI Registration No.: ARN -248439. **Mutual fund investments are subject to market risks, read all scheme related documents carefully.** Terms and conditions of the website are applicable. Privacy policy of the website is applicable.
