HSBC Business Cycles Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

HSBC Business Cycles Fund is a Thematic fund run by HSBC Mutual Fund. On 30-09-2026, it managed ₹1,179 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 14.8% a year and its Regular plan returned 13.5% a year. Its benchmark, Nifty 500 TRI, returned 10.2% a year over the same 3 years.

NAV (Direct plan): ₹45.39; ▼ 1.54%30-10-2026
NAV (Regular plan): ₹40.62; ▼ 1.55%30-10-2026
Expense ratio: 1.15%Direct2.36%Regular; 1.15%; A year
Riskometer: Very High; Set by the fund house
3 year return: 14.8%Direct13.5%Regular; 14.8%; A year

HSBC Business Cycles Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹45.39 (down 1.54% that day); Regular Plan Growth ₹40.62 (down 1.55% that day).

This fund (Direct plan)

₹45.388

HSBC Business Cycles Fund Returns vs Nifty 500 TRI

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−4.91%	−4.16%	−2.14%	−4.83%	+14.78%	--	--
This fund (Regular)	−5.00%	−4.45%	−2.72%	−5.95%	+13.49%	--	--
Nifty 500 TRI	−0.75%	−6.05%	−2.83%	−7.34%	+10.22%	+8.81%	+12.51%
Thematic average	−2.09%	−4.52%	+0.86%	−1.22%	+13.76%	--	--
Best in Thematic	+11.54%	+11.27%	+22.16%	+75.71%	+54.78%	--	--
Worst in Thematic	−16.05%	−11.74%	−13.97%	−22.44%	−4.46%	--	--
Rank in Thematic	204/235	88/232	142/232	121/215	51/133	--	--

Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.

HSBC Business Cycles Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty 500 TRI
2026to date	−2.27%	−3.23%	−7.51%
2025	−1.62%	−2.73%	+7.76%
2024	+37.79%	+36.31%	+16.24%
2023	+32.74%	+31.32%	+26.91%

HSBC Business Cycles Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 226 periods, one for each trading day from 28-11-2025 to 30-10-2026.

0%5%10%15%20%25%

Dec 2022
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
to
Oct 2026

HSBC Business Cycles Fund (Direct)Nifty 500 TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	720	10.0%	−8.3%	59.4%	18%	8.5%	74%
2 years	474	22.1%	−2.8%	37.9%	5%	16.3%	98%
3 years	226	18.1%	13.9%	23.1%	0%	14.1%	100%

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	36	10.9%	−24.0%	66.6%	22%	10.1%	69%
2 years	24	10.7%	−8.8%	40.4%	17%	9.2%	75%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty 500 TRI over the same days. Past returns do not promise future returns.

HSBC Business Cycles Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	HSBC Business Cycles Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	−4.83%	−7.34%
Standard deviation	18.00%	14.48%
Sharpe ratio	-0.56	-0.87
Sortino ratio	-0.76	-1.16
Maximum drawdown	−16.9% (31-03-2026)	−14.7% (30-03-2026)
Beta	1.17	1.00
Alpha	+4.65%	0.00%

From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HSBC Business Cycles Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	+14.78%	+10.22%
Standard deviation	18.20%	14.30%
Sharpe ratio	0.48	0.29
Sortino ratio	0.65	0.40
Maximum drawdown	−23.4% (03-03-2025)	−18.6% (28-02-2025)
Beta	1.19	1.00
Alpha	+3.76%	0.00%

From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	HSBC Business Cycles Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	+14.81%	+9.73%
Standard deviation	16.72%	13.39%
Sharpe ratio	0.52	0.27
Sortino ratio	0.70	0.36
Maximum drawdown	−23.4% (03-03-2025)	−18.6% (28-02-2025)
Beta	1.16	1.00
Alpha	+4.49%	0.00%

From daily NAVs, 28-11-2022 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Drawdowns

How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.

−25%−20%−15%−10%−5%0%

2023202420252026

HSBC Business Cycles Fund (Direct)Nifty 500 TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
HSBC Business Cycles Fund (Direct)	−23.4%	11-12-2024	03-03-2025	26-08-2026	18 months	−9.0%
Nifty 500 TRI	−18.6%	26-09-2024	28-02-2025	Not yet	--	−8.8%

From the Direct plan's daily NAV since 28-11-2022, adjusted for unit splits, and Nifty 500 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

HSBC Business Cycles Fund vs Other Thematic Funds

The five Thematic funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Nippon India Taiwan Equity Fund	1/133	1,147	1.08%	+75.71%	+54.78%	--	--	1.38	2.03	Compare
HDFC Defence Fund	2/133	11,493	0.90%	+13.79%	+34.76%	−0.18%	0.83	1.12	1.54	Compare
HDFC Pharma and Healthcare Fund	3/133	3,501	1.05%	+23.12%	+30.53%	+8.23%	0.96	1.74	2.49	Compare
SBI Healthcare Opportunities Fund	4/133	5,870	1.01%	+17.12%	+24.60%	+3.61%	0.88	1.42	2.03	Compare
Aditya Birla Sun Life International Equity Fund	5/133	352	2.00%	+13.97%	+24.46%	--	--	1.49	2.16	Compare
HSBC Business Cycles Fund	51/133	1,179	1.15%	−4.83%	+14.78%	+3.76%	1.19	0.48	0.65

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

HSBC Business Cycles Fund Expense Ratio and Costs

What each plan charges a year, in force from 21-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Thematic median	Cost rank (1 = cheapest)
Direct	0.87%	0.04%	0.00%	0.24%	1.15%	1.18%	109/235
Regular	1.89%	0.04%	0.00%	0.43%	2.36%	2.41%	106/235

The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	−5.95%	−4.83%	1.12%	₹94,050	₹95,170
3 years	13.49%	14.78%	1.29% a year	₹1,46,175	₹1,51,216

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

HSBC Business Cycles Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 28-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planHSBC Business Cycles Fund (Direct)	₹4,80,000	₹5,75,761	₹95,761	9.1%
Regular planHSBC Business Cycles Fund (Regular)	₹4,80,000	₹5,61,102	₹81,102	7.8%
Nifty 500 TRI	₹4,80,000	₹5,36,859	₹56,859	5.6%
Category averageCategory average, 235 Thematic funds	₹4,80,000	₹5,86,270	₹1,06,270	10.0%

₹0₹2.0 L₹4.0 L₹6.0 L₹8.0 L

2023202420252026

Direct planHSBC Business Cycles Fund (Direct)Regular planHSBC Business Cycles Fund (Regular)Nifty 500 TRICategory averageCategory average, 235 Thematic fundsAmount invested

From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.

HSBC Business Cycles Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

98.1%Equity

Asset	Fund	Category
Equity	98.1%	94.5%
Cash and others	1.9%	4.0%

Market cap of stocks

Market cap	Fund	Category
Large Cap	39.7%	45.7%
Mid Cap	18.2%	19.6%
Small Cap	38.8%	24.1%
Not on AMFI's list	1.4%	2.3%

Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

HSBC Business Cycles Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Banks14.5%
Capital Markets10.9%
Electrical Equipment8.8%
Retailing8.0%
Industrial Products6.4%
Construction5.0%
Finance4.8%
Aerospace & Defense4.8%
Transport Services4.5%
Consumer Durables4.3%

The ten largest of 25 sectors. The other 15 add up to 26.1%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Banks	15.0%	14.5%	14.5%	−0.5%
Capital Markets	10.6%	10.9%	10.9%	+0.3%
Electrical Equipment	7.4%	8.0%	8.8%	+1.4%
Retailing	6.6%	6.7%	8.0%	+1.4%
Industrial Products	5.7%	5.5%	6.4%	+0.7%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

HSBC Business Cycles Fund Portfolio Holdings

As on 30-09-2026 · 70 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
ICICI Bank Limited	Banks	5.33%	0.0%
Mtar Technologies Limited	Electrical Equipment	3.90%	0.0%
InterGlobe Aviation Limited	Transport Services	3.38%	+23.1%
HDFC Bank Limited	Banks	2.97%	0.0%
Reliance Industries Limited	Petroleum Products	2.58%	0.0%
Hindustan Aeronautics Limited	Aerospace & Defense	2.53%	0.0%
RBL Bank Limited	Banks	2.43%	0.0%
ICICI Prudential AMC Ltd	Capital Markets	2.26%	0.0%
Bharat Electronics Limited	Aerospace & Defense	2.22%	0.0%
Larsen & Toubro Limited	Construction	2.12%	0.0%
GE Vernova T&D India Limited	Electrical Equipment	2.10%	0.0%
Kotak Mahindra Bank Limited	Banks	1.95%	0.0%
State Bank of India	Banks	1.86%	0.0%
APL Apollo Tubes Limited	Industrial Products	1.86%	0.0%
PNB Housing Finance Limited	Finance	1.85%	0.0%
Multi Commodity Exchange of India Ltd.	Capital Markets	1.85%	0.0%
ELECTRONICS MART INDIA LIMITED	Retailing	1.83%	0.0%
UltraTech Cement Limited	Cement & Cement Products	1.82%	0.0%
TVS Motor Company Limited	Automobiles	1.74%	0.0%
Eternal Limited	Retailing	1.74%	0.0%
PARADEEP PHOSPHATES LIMITED	Fertilizers & Agrochemicals	1.70%	0.0%
Motilal Oswal Financial Services Limited	Capital Markets	1.69%	0.0%
Jyoti Cnc Automation Ltd	Industrial Manufacturing	1.63%	0.0%
Dhoot Transmission Limited	Auto Components	1.45%	+130.0%
Sterlite Technologies Limited	Telecom - Equipment & Accessories	1.42%	0.0%
SWIGGY LIMITED	Retailing	1.35%	0.0%
ABB India Limited	Electrical Equipment	1.30%	0.0%
Piramal Finance Ltd	Finance	1.30%	0.0%
AHLUWALIA CONTRACTS (INDIA) LTD	Construction	1.28%	0.0%
R R Kabel Limited	Industrial Products	1.28%	0.0%
Time Technoplast Limited	Industrial Products	1.27%	0.0%
INDO COUNT INDUSTRIES LIMITED	Textiles & Apparels	1.22%	0.0%
Canara Robeco Mutual Fund	Capital Markets	1.21%	0.0%
Prudent Corporate Advisory Services Ltd	Capital Markets	1.19%	0.0%
Pine Labs Limited	Financial Technology (Fintech)	1.19%	0.0%
Gujarat Fluorochemicals Limited	Chemicals & Petrochemicals	1.18%	0.0%
Meesho Limited	Retailing	1.16%	New
Shadowfax Technologies Limited	Transport Services	1.15%	0.0%
FSN E-Commerce Ventures Limited	Retailing	1.14%	0.0%
Titan Company Limited	Consumer Durables	1.13%	0.0%
BLUE STAR LTD	Consumer Durables	1.13%	0.0%
Amber Enterprises India Limited	Consumer Durables	1.13%	0.0%
POWER MECH PROJECTS LIMITED	Construction	1.12%	0.0%
TITAGARH RAIL SYSTEMS LIMITED	Industrial Manufacturing	1.12%	0.0%
Billionbrains Garage Ventures Ltd.	Capital Markets	1.10%	+16.4%
Nippon Life India Asset Management Ltd	Capital Markets	1.09%	0.0%
PB Fintech Limited	Financial Technology (Fintech)	1.08%	0.0%
Gokaldas Exports Limited	Textiles & Apparels	1.03%	0.0%
MOLD-TEK PAKAGING LIMITED	Industrial Products	1.02%	0.0%
Maruti Suzuki India Limited	Automobiles	1.02%	0.0%
PTC INDUSTRIES LIMITED	Industrial Products	0.94%	New
Home First Finance Company India Limited	Finance	0.93%	0.0%
Wakefit Innovations Limited	Consumer Durables	0.90%	0.0%
Tata Motors Limited	Agricultural, Commercial & Construction Vehicles	0.89%	0.0%
Sobha Limited	Realty	0.85%	0.0%
Lenskart Solutions Limited	Retailing	0.80%	0.0%
OPTIEMUS INFRACOM LIMITED	Telecom - Equipment & Accessories	0.76%	0.0%
Cholamandalam Invest & Finance Co Ltd	Finance	0.73%	0.0%
Devyani International Limited	Leisure Services	0.72%	0.0%
Diamond Power Infrastructure Limited	Electrical Equipment	0.68%	0.0%
Pitti Engineering Limited	Industrial Manufacturing	0.57%	0.0%
Aditya Infotech Limited	Industrial Manufacturing	0.55%	New
JSW Steel Limited	Ferrous Metals	0.53%	0.0%
APAR INDUSTRIES LTD	Electrical Equipment	0.51%	+265.7%
INDIAN HUME PIPE COMPANY LIMITED	Construction	0.49%	−50.6%
HDFC Asset Management Company Limited	Capital Markets	0.48%	0.0%
Ganesha Ecosphere Ltd.	Textiles & Apparels	0.38%	0.0%
Amara Raja Energy & Mobility Limited	Auto Components	0.38%	0.0%
Bharat Bijlee Ltd.	Electrical Equipment	0.32%	0.0%
Awfis Space Solutions Limited	Commercial Services & Supplies	0.31%	0.0%

HSBC Business Cycles Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

InterGlobe Aviation Limited	Added	+23.1%	3.38%
Dhoot Transmission Limited	Added	+130.0%	1.45%
Meesho Limited	New	New	1.16%
Billionbrains Garage Ventures Ltd.	Added	+16.4%	1.10%
INDIAN HUME PIPE COMPANY LIMITED	Reduced	−50.6%	0.49%
Hindalco Industries Limited	Sold out	−100%	was 0.99%
PTC INDUSTRIES LIMITED	New	New	0.94%
Kajaria Ceramics Limited	Sold out	−100%	was 0.68%
Aditya Infotech Limited	New	New	0.55%
APAR INDUSTRIES LTD	Added	+265.7%	0.51%
PG Electroplast Limited	Sold out	−100%	was 0.32%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What HSBC Business Cycles Fund bought and sold

HSBC Business Cycles Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
HSBC Flexi Cap FundFlexi Cap · HSBC	42.4%	36	Compare
HSBC Aggressive Hybrid FundAggressive Hybrid · HSBC	41.3%	37	Compare
HSBC Infrastructure FundSectoral · HSBC	35.9%	25	Compare
Helios Large & Mid Cap FundLarge & Mid Cap · Helios	34.4%	23	Compare
Canara Robeco Flexi Cap FundFlexi Cap · Canara Robeco	33.8%	25	Compare
Helios Flexi Cap FundFlexi Cap · Helios	32.9%	23	Compare
HSBC ELSS Tax saver FundELSS · HSBC	32.6%	23	Compare
HSBC Financial Services FundThematic · HSBC	32.4%	19	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

HSBC Business Cycles Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 1.15%
Expense ratio (Regular): 2.36%
Category: Thematic
Risk: Very High
Benchmark: Nifty 500 TRI
Launch date: 20-08-2014
Minimum investment: ₹5,000
Minimum additional investment: ₹1,000
AUM: ₹1,178.73 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 151142
ISIN (Direct): INF917K01RI2
Scheme code (Regular): 151144
ISIN (Regular): INF917K01RF8
NAV history: From 28-11-2022, 3.9 years

Exit load: Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 1 year.

Tax on HSBC Business Cycles Fund returns

HSBC Business Cycles Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹45.388	30-10-2026
direct	IDCW	₹24.067	30-10-2026
regular	Growth	₹40.6169	30-10-2026
regular	IDCW	₹21.541	30-10-2026

About HSBC Business Cycles Fund

HSBC Business Cycles Fund is a mutual fund from HSBC Mutual Fund. Its category is Thematic. It was launched on 20-08-2014. Its benchmark is Nifty 500 TRI. At the end of September 2026 it held 70 securities.

Fund Manager

Gautam Bhupal
Fund manager of HSBC Business Cycles Fund, since 01-06-2023
Mayank Chaturvedi
Fund manager of HSBC Business Cycles Fund, since 01-10-2025
Dipan S. Parikh
Fund manager of HSBC Business Cycles Fund, since 26-08-2026

See all funds of HSBC Mutual Fund

AUM change

September 2026: ₹1,178.73 Cr; −4.11% from August 2026
August 2026: ₹1,229.28 Cr; +3.97% from July 2026
July 2026: ₹1,182.34 Cr; −0.03% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare HSBC Business Cycles Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

HSBC Business Cycles vs Nippon India Taiwan EquityThematic
HSBC Business Cycles vs HDFC DefenceThematic
HSBC Business Cycles vs HDFC Pharma and HealthcareThematic
HSBC Business Cycles vs SBI Healthcare OpportunitiesThematic
HSBC Business Cycles vs Aditya Birla Sun Life International EquityThematic
HSBC Business Cycles vs HSBC Flexi Cap42.4% overlap
HSBC Business Cycles vs HSBC Aggressive Hybrid41.3% overlap
HSBC Business Cycles vs HSBC Infrastructure35.9% overlap

Compare with any other fund

Frequently Asked Questions for HSBC Business Cycles Fund

What is the current NAV of HSBC Business Cycles Fund?

The Direct plan NAV is ₹45.388. The Regular plan NAV is ₹40.6169, as on 30-10-2026.

What are the returns of HSBC Business Cycles Fund?

The Direct plan returned −4.83% in 1 year, +14.78% a year over 3 years. The Regular plan returned −5.95% in 1 year, +13.49% a year over 3 years. These figures are as on 30-10-2026.

What is the expense ratio of HSBC Business Cycles Fund?

The Direct plan charges 1.15% a year. The Regular plan charges 2.36% a year. This is the figure the fund house reported to AMFI, in force from 21-10-2026.

What is the AUM of HSBC Business Cycles Fund?

HSBC Business Cycles Fund managed ₹1,178.73 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of HSBC Business Cycles Fund?

At the end of September 2026 the largest holdings were ICICIBANK (5.33%), MTARTECH (3.90%), INDIGO (3.38%), HDFCBANK (2.97%), RELIANCE (2.58%). The fund held 70 securities in all.

What did HSBC Business Cycles Fund buy and sell in September 2026?

It bought 3 new stocks: Meesho Limited, PTC INDUSTRIES LIMITED, Aditya Infotech Limited. It sold out of 3: Hindalco Industries Limited, Kajaria Ceramics Limited, PG Electroplast Limited. It added shares in 4. It reduced 1.

How do I invest in HSBC Business Cycles Fund?

Through HSBC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹5,000. You can invest once or through a monthly SIP.

Who is the fund manager of HSBC Business Cycles Fund?

Gautam Bhupal (since 01-06-2023), Mayank Chaturvedi (since 01-10-2025), Dipan S. Parikh (since 26-08-2026).

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.