HSBC Business Cycles Fund
NAV
₹48.34
as of 6 Oct 2026
HSBC Business Cycles Fund is an open-ended Sectoral/ Thematic scheme from HSBC Mutual Fund managing ₹1,229 crore (as of 31 Aug 2026). Its Direct-plan NAV is ₹48.34 as of 6 Oct 2026. The expense ratio is 1.12% a year. Managed by Gautam Bhupal. This page is factual data only – it carries no rating and no recommendation.
Key facts
- Expense ratio
- 1.12% / yr
- as of 31 Aug 2026
- Fund size
- ₹1,229 crore
- as of 31 Aug 2026
- Exit load
- 1%
- SIP available
- Yes
- Launched
- 20 Aug 2014
- ISIN
- INF917K01RI2
₹100 invested, fund vs category
The category line is the average of the funds in this category, built from nyvo’s own NAV data.
Rebased to 100data to 5 Oct 2026Benchmark: Nifty 500 TRI
HSBC Business Cycles Fund
₹194
+94% on ₹100 over 5.0 yrs
Sectoral/ Thematic average
₹176
+76% on ₹100 over 5.0 yrs
Returns vs category
| Window | Fund | Category avg | Gap |
|---|---|---|---|
| 3 months | -0.14% | -4.47% | +4.33 |
| 6 months | 9.30% | 7.56% | +1.74 |
| 1 year | 1.42% | -0.10% | +1.52 |
| 3 years (CAGR) | 15.48% | 12.32% | +3.16 |
| 5 years (CAGR) | 14.43% | 11.84% | +2.59 |
Category average across 119 funds, as of 5 Oct 2026. Short windows are noise; the 3 and 5-year rows are the record. Past returns do not predict future returns.
A single return number depends on its start date. These are ALL the overlapping holding periods, so the worst case is visible – read that number first.
1-year holding periods
- Worst
- -4.3%
- Median
- 11.7%
- Best
- 57.6%
49 windows over the last 60 months, stepped monthly; 86% ended positive. Worst window began 1 Oct 2024. Windows overlap – this is the range of past start dates, not a probability of anything.
3-year holding periods (per year)
- Worst
- 15.2%
- Median
- 20.8%
- Best
- 31.0%
25 windows over the last 60 months, stepped monthly; 100% ended positive. Worst window began 3 Oct 2023. Windows overlap – this is the range of past start dates, not a probability of anything.
Risk, measured
- Sharpe ratio (3Y)
- 0.60
- Sharpe ratio (5Y)
- 0.62
- Sortino ratio (3Y)
- 0.97
- Standard deviation (3Y)
- 20.33%
- Deepest fall (5Y)
- -21.40%
Distance below its own peak
Every dip below 0 is the fund trading under a previous high – how deep and for how long is what a drawdown feels like.
Deepest fall
-21.4%
Right now
-4.5% below peak
Where the money actually is
Equity
96.3%
Cash
3.7%
Whole-portfolio split, as of 31 Aug 2026.
What it owns
72 positions · top 10 = 28.6%
Market-cap mix
Large 40.6%Mid 17.6%Small 37.5%Other 4.3%
as of 31 Aug 2026
Holdings by sector
Financial Services(3 in top 10)32.3%
- ICICI Bank Ltd5.62%
- HDFC Bank Ltd2.85%
- RBL Bank Ltd2.20%
Industrials(5 in top 10)29.3%
- MTAR Technologies Ltd3.37%
- InterGlobe Aviation Ltd2.77%
- Hindustan Aeronautics Ltd Ordinary Shares2.49%
- Bharat Electronics Ltd2.27%
- Larsen & Toubro Ltd2.19%
- Consumer Cyclical19.4%
- Basic Materials8.1%
- Technology3.0%
Energy(1 in top 10)2.7%
- Reliance Industries Ltd2.67%
- Real Estate0.8%
- Healthcare0.8%
Sectors marked ▶ expand to show this fund’s top-10 holdings in that sector. Holdings as of 31 Aug 2026. Portfolio turnover 26.8% vs category 37.4% a year.
Other top holdings
- Treps3.94%
The businesses it owns
- P/E (trailing)
- 30.1 vs category 25.9
- P/B
- 4.1 vs category 3.9
- Dividend yield
- 0.6% vs category 1.1%
- Net margin
- 16.4% vs category 15.4%
- Earnings growth
- 20.5%
- Avg market cap
- ₹77,020 crore
Money in, money out
- Net flow, 12 months
- +₹49 cr
- Net flow, 3 months
- −₹5 cr
as of 31 Aug 2026. Flows follow performance more than they predict it.
Quick answers
- What is the NAV of HSBC Business Cycles Fund?
- ₹48.34 per unit as of 6 Oct 2026 (Direct plan, growth). NAV is declared daily on working days.
- What is the expense ratio of HSBC Business Cycles Fund?
- 1.12% a year for the Direct plan, as of 31 Aug 2026.
- How large is HSBC Business Cycles Fund?
- ₹1,229 crore under management as of 31 Aug 2026, in the Sectoral/ Thematic category.
- How risky is HSBC Business Cycles Fund?
- Its SEBI Riskometer reading is "Very High Risk". One sector, one story. The most-launched shelf on the map, by far.
- What are the 5-year returns of HSBC Business Cycles Fund?
- 14.43% a year over the last 5 years (Direct plan, CAGR), against a Sectoral/ Thematic average of 11.84%. Past returns do not predict future returns.
- What is the worst 3-year return of HSBC Business Cycles Fund?
- 15.2% a year – the weakest of 25 overlapping 3-year holding periods, beginning 3 Oct 2023. The median was 20.8% and 100% of those windows ended positive. Windows overlap, so this is the range of past start dates, not a probability.
- Who manages HSBC Business Cycles Fund?
- Gautam Bhupal, managing this fund for 3.2 years.
Where this fund sits
Its shelf, all funds
St · Sectoral / thematic →
One sector, one story. The most-launched shelf on the map, by far.
The money map
How big this shelf is in India →
The whole industry sized by real money, from AMFI’s monthly data.
Side by side
Compare this fund →
Put it next to any other fund – growth, returns, risk and cost in one table.
One bet or two?
Check its overlap →
See whether it owns the same stocks as your other funds.
Other Sectoral/ Thematic funds
- ICICI Prudential India Opportunities Fund₹38,338 crore
- ICICI Prudential Business Cycle Fund₹15,873 crore
- HSBC Infrastructure Fund₹2,466 crore
- HSBC Consumption Fund₹1,817 crore
- SBI COMMA FUND₹1,237 crore
- Edelweiss Recently Listed IPO Fund₹1,230 crore
- LIC MF Infrastructure Fund₹1,174 crore
- HDFC Housing Opportunities Fund₹1,167 crore
Data: nyvo research systems; each block above states its own as-of date, and blocks with no data for this fund are omitted rather than estimated. NAV updates daily on working days. The benchmark (Nifty 500 TRI) is named for reference only; its values are licensed and never shown. This page is factual information about one scheme. It is not investment advice, not a recommendation, and it carries no rating of any kind. Past performance does not predict future returns. Mutual fund investments are subject to market risks; read all scheme related documents carefully.