HSBC Business Cycles Fund
NAV
₹49.58
as of 21 Aug 2026
HSBC Business Cycles Fund is an open-ended Sectoral/ Thematic scheme from HSBC Mutual Fund managing ₹1,182 crore (as of 31 Jul 2026). Its Direct-plan NAV is ₹49.58 as of 21 Aug 2026. The expense ratio is 0.87% a year. Managed by Gautam Bhupal. This page is factual data only — it carries no rating and no recommendation.
Key facts
- Expense ratio
- 0.87% / yr
- as of 30 Jun 2026
- Fund size
- ₹1,182 crore
- as of 31 Jul 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 20 Aug 2026Benchmark: Nifty 500 TRI
HSBC Business Cycles Fund
₹225
+125% on ₹100 over 5.0 yrs
Sectoral/ Thematic average
₹193
+93% on ₹100 over 5.0 yrs
Returns vs category
| Window | Fund | Category avg | Gap |
|---|---|---|---|
| 3 months | 7.14% | 6.78% | +0.36 |
| 6 months | 8.02% | 3.68% | +4.34 |
| 1 year | 4.01% | 6.07% | -2.06 |
| 3 years (CAGR) | 17.89% | 16.01% | +1.88 |
| 5 years (CAGR) | 17.49% | 15.20% | +2.29 |
Category average across 119 funds, as of 21 Aug 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
- 12.0%
- 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
- 16.2%
- Median
- 21.4%
- Best
- 31.0%
25 windows over the last 60 months, stepped monthly; 100% ended positive. Worst window began 1 Aug 2023. Windows overlap — this is the range of past start dates, not a probability of anything.
Risk, measured
- Sharpe ratio (3Y)
- 0.51
- Sharpe ratio (5Y)
- 0.61
- Sortino ratio (3Y)
- 0.82
- Standard deviation (3Y)
- 20.28%
- 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
-0.5% below peak
Where the money actually is
Equity
97.8%
Cash
2.2%
Whole-portfolio split, as of 31 Jul 2026.
What it owns
74 positions · top 10 = 28.9%
Market-cap mix
Large 42.0%Mid 16.5%Small 39.2%Other 2.2%
as of 31 Jul 2026
Holdings by sector
Financial Services(4 in top 10)32.0%
- ICICI Bank Ltd5.77%
- HDFC Bank Ltd3.12%
- RBL Bank Ltd2.26%
- ICICI Prudential Asset Management Co Ltd2.24%
Industrials(4 in top 10)30.3%
- MTAR Technologies Ltd2.85%
- InterGlobe Aviation Ltd2.84%
- Hindustan Aeronautics Ltd Ordinary Shares2.51%
- Larsen & Toubro Ltd2.22%
- Consumer Cyclical19.0%
- Basic Materials9.3%
Energy(1 in top 10)2.8%
- Reliance Industries Ltd2.84%
- Technology2.8%
- Real Estate0.9%
- Healthcare0.7%
Sectors marked ▶ expand to show this fund’s top-10 holdings in that sector. Holdings as of 31 Jul 2026. Portfolio turnover 17.6% vs category 37.3% a year.
Other top holdings
- Treps2.32%
The businesses it owns
- P/E (trailing)
- 28.9 vs category 25.8
- P/B
- 3.8 vs category 3.8
- Dividend yield
- 0.6% vs category 1.1%
- Net margin
- 15.9% vs category 15.4%
- Earnings growth
- 17.6%
- Avg market cap
- ₹71,370 crore
Money in, money out
- Net flow, 12 months
- +₹64 cr
- Net flow, 3 months
- +₹7 cr
as of 31 Jul 2026. Flows follow performance more than they predict it.
Quick answers
- What is the NAV of HSBC Business Cycles Fund?
- ₹49.58 per unit as of 21 Aug 2026 (Direct plan, growth). NAV is declared daily on working days.
- What is the expense ratio of HSBC Business Cycles Fund?
- 0.87% a year for the Direct plan, as of 30 Jun 2026.
- How large is HSBC Business Cycles Fund?
- ₹1,182 crore under management as of 31 Jul 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?
- 17.49% a year over the last 5 years (Direct plan, CAGR), against a Sectoral/ Thematic average of 15.20%. Past returns do not predict future returns.
- What is the worst 3-year return of HSBC Business Cycles Fund?
- 16.2% a year — the weakest of 25 overlapping 3-year holding periods, beginning 1 Aug 2023. The median was 21.4% 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₹38,299 crore
- ICICI Prudential Business Cycle Fund₹16,123 crore
- HSBC Infrastructure Fund₹2,362 crore
- HSBC Consumption Fund₹1,762 crore
- Bandhan Business Cycle Fund₹1,209 crore
- SBI COMMA FUND₹1,185 crore
- HDFC Housing Opportunities Fund₹1,173 crore
- LIC MF Infrastructure Fund₹1,145 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.