May 14, 2026
RA Jainee
HSBC Financial Services Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 12.07 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 12.07 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 500 |
| Min. No of Cheques | 6 |
| Benchmark | BSE Financial Services TRI |
| AUM Rs. | 747 Cr |
| (As on 31-Mar-2026) | |
| Expense | 1.29% |
| 1 Year Return (%) | 12.61 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 19.39% |
⚖️ Sahifund Review – HSBC Financial Services Fund ✔
PLUS:
✓ Backed by the global investment framework and sector research capabilities of HSBC Mutual Fund.
✓ Strong 1-year return of 12.61% has comfortably outperformed banking sector benchmarks and category averages.
✓ Impressive return since launch of 19.39% reflects strong early execution within the financial services theme.
✓ Very low turnover ratio of 7% indicates disciplined long-term portfolio management and conviction-driven investing.
✓ Portfolio P/E of 18.16 appears relatively attractive compared to many expensive thematic equity funds.
✓ Diversified exposure across banking, NBFCs, insurance and financial services businesses enhances sectoral balance.
✓ Suitable mainly for aggressive SIP investors seeking long-term exposure to India’s expanding financialisation theme.
MINUS:
⚖️ Fund is still very new with only around 1 year operating history and no proven long-term market-cycle consistency.
⚖️ Top 3 sectors account for nearly 96% exposure, creating extremely high thematic concentration risk.
⚖️ Expense ratio of 1.29% is higher than several established banking and financial services peers.
⚖️ Large exposure to mid-cap and small-cap financial businesses increases volatility during credit or liquidity stress.
⚖️ Financial sector funds can underperform sharply during economic slowdowns, rising NPAs or regulatory tightening phases.
⚖️ Thematic banking funds remain unsuitable as core portfolio allocations for conservative investors.
⚖️ Investors may obtain similar exposure through diversified flexi-cap funds with lower sector concentration risk.
Sahifund View (Decisive Line):
HSBC Financial Services Fund looks promising for high-risk SIP investors bullish on India’s long-term financialisation story, but diversified equity funds still offer a safer and more balanced long-term investment approach for most investors.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Nobody should invest in Banking funds in our opinion, because:
• They have a narrow focus on only financial services companies
• Instead, diversified equity funds which invest across sectors are better
If you still choose to invest:
1. Invest only through SIP
2. Have a 7+ year investment horizon
3. Be prepared to withstand interim sharp declines in investment value
Fund’s Investment Strategy:
The scheme seeks to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in financial services businesses.
Fund Manager:
1) Gautam Bhupal
Education: Mr. Bhupal holds a PGDBM and is a CA, CS and B.Com (Hons)
Experience: Prior to joining HSBC Mutual Fund he was working with IDFC Asset Management Company Ltd., Motilal Oswal Securities Ltd., Infosys Ltd., Vickers Ballas Securities Ltd., SBC Warburg, UTI Securities Ltd.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | For units in excess of 10% of the investment, 1% will be charged for redemption within 90 days |
Basic Details of HSBC Financial Services Fund
| Fund House | HSBC Mutual Fund |
| Launch Date | 27-Feb-25 |
| Return Since Launch | 19.39% |
| Benchmark | BSE Financial Services TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 747 Cr |
| (As on 31-Mar-2026) | |
| Expense | 1.29% |
| (As on 31-Mar-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 7.00% |
HSBC Financial Services Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| HSBC Financial Services Dir | -0.26 | -1.11 | 13.71 | 0.45 | 3.10 | 12.61 | — | — | — | — |
| BSE Bankex TRI | -7.57 | -0.98 | 9.06 | -8.00 | -4.97 | -0.57 | — | — | — | — |
| Equity: Sectoral-Banking | -5.39 | -0.99 | 10.29 | -4.91 | -2.76 | 5.74 | — | — | — | — |
| Rank within category | 3 | 38 | 4 | 4 | 3 | 6 | — | — | — | — |
| Number of funds in category | 40 | 45 | 45 | 40 | 39 | 37 | 19 | 13 | 11 | 11 |
Peer Comparison of HSBC Financial Services Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| HSBC Financial Services Dir | Unrated | 12.61 | — | — | 1.29 | 747 | 19.39 | 1.00 (90) | 1Y 2M | 7.00 |
| SBI Banking & Financial Services Dir | 4 star | 7.02 | 18.83 | 15.30 | 1.05 | 9,380 | 15.08 | 0.50 (30) | 11Y 2M | 89.00 |
| Nippon India Banking & Financial Srvices Dir | 4 star | 2.93 | 16.43 | 17.39 | 0.99 | 6,721 | 13.74 | 1.00 (30) | 13Y 4M | 24.00 |
| Mirae Asset Banking and Fin Srvcs Dir | 4 star | 6.69 | 16.73 | 15.45 | 0.61 | 1,975 | 16.27 | 1.00 (365) | 5Y 4M | 38.00 |
| Invesco India Financial Services Dir | 5 star | 9.61 | 20.69 | 17.54 | 0.81 | 1,480 | 15.69 | 1.00 (365) | 13Y 4M | 26.00 |
HSBC Financial Services Fund Portfolio
| No. of Stocks | 40 |
| Top 10 Stocks | 48.26% |
| Top 5 Stocks | 29.44% |
| Top 3 Sectors | 96.01% |
| Portfolio P/B Ratio | 2.49 |
| Portfolio P/E Ratio | 18.16 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 1,01,170 | 2,58,648 |
| Giant (%) | — | — |
| Large (%) | 48.04 | 72.76 |
| Mid (%) | 31.07 | 20.08 |
| Small (%) | 20.89 | 10.33 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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