December 31, 2025
RA Jainee
HSBC Midcap Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 399.61 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 75.01 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 500 |
| Min. No of Cheques | 6 |
| Benchmark | NIFTY Midcap 150 TRI |
| AUM Rs. | 12,549 Cr |
| (As on 30-Nov-2025) | |
| Expense | 1.71% |
| 1 Year Return (%) | -1.78 |
| 3 Year Return (%) | 24.18 |
| 5 Year Return (%) | 20.22 |
| 10 Year Return (%) | 15.98 |
| Return Since Launch | 18.76% |
⚖️ Sahifund Review – HSBC Midcap Fund
✓ PLUS: Long track record, mid-cap exposure, experienced fund management
HSBC Midcap Fund carries a long operating history of over two decades, giving investors confidence across multiple market cycles. The fund has delivered strong 3-year and 5-year returns, reflecting its ability to capture mid-cap growth over longer horizons. Portfolio diversification across a large number of stocks helps reduce single-stock risk, while experienced fund management adds credibility to the investment process.
⚖️ MINUS: High expense ratio, recent underperformance, valuation risk
The expense ratio of 1.71% is on the higher side for the category, impacting net returns over time. Short-term performance has been weak, with negative 1-year returns, indicating momentum lag versus peers. Elevated portfolio valuations and high turnover may increase volatility during market corrections.
Sahifund Verdict:
A long-term mid-cap play for patient investors, but high costs and near-term volatility mean it suits only those with strong risk appetite and a 7+ year horizon.
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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?
Mid-cap funds are suitable for investors:
1. Seeking exposure in mid-cap stocks for high returns
2. Aiming for long-term wealth creation
3. With a 7+ year investment horizon
4. Who can withstand interim sharp declines in investment value
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The scheme seeks to generate long-term capital growth from an actively managed portfolio of equity and equity related securities of predominantly mid cap companies.
Fund Manager:
1) Cheenu Gupta
Education: Ms. Gupta is CFA Charter holder (USA), PGDBM (Finance) & B.E. (I.T)
Experience: Prior to joining HSBC Mutual Fund, she has worked with L&T Mutual Fund, Canara Robeco Mutual Fund, Tata AIA Life Insurance Company as Fund Manager, ING Investment Management as Senior Research Analyst and UTI AMC Ltd. as Research Analyst.
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) | 500 |
| Lock-in Period | NA |
| Exit Load | For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days |
Basic Details of HSBC Midcap Fund
| Fund House | HSBC Mutual Fund |
| Launch Date | 09-Aug-04 |
| Return Since Launch | 18.76% |
| Benchmark | NIFTY Midcap 150 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | Rs 12,549 Cr |
| (As on 30-Nov-2025) | |
| Expense | 1.71% |
| (As on 30-Nov-2025) | |
| Risk Grade | Average |
| Return Grade | Average |
| Turnover | 102.00% |
Trailing Returns (%) of HSBC Midcap Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| HSBC Midcap Reg | -2.06 | -0.14 | -1.60 | 3.15 | 0.93 | -1.78 | 24.18 | 20.22 | 16.96 | 15.98 |
| BSE 150 MidCap TRI | 2.80 | -0.04 | -1.50 | 3.59 | 0.23 | 2.92 | 22.87 | 23.46 | 20.33 | 17.87 |
| Equity: Mid Cap | 1.33 | -0.38 | -2.14 | 3.40 | -1.01 | 1.48 | 21.32 | 21.38 | 18.65 | 15.95 |
| Rank within category | 45 | 8 | 30 | 42 | 14 | 45 | 9 | 21 | 19 | 9 |
| Number of funds in category | 58 | 70 | 67 | 65 | 63 | 58 | 47 | 29 | 24 | 20 |
Peer Comparison of HSBC Midcap 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 Midcap Reg | 3 star | -1.78 | 24.18 | 20.22 | 1.71 | 12,549 | 18.76 | 1.00 (365) | 21Y 4M | 102.00 |
| HDFC Mid Cap Reg | 5 star | 5.79 | 25.21 | 25.33 | 1.36 | 92,169 | 17.59 | 1.00 (365) | 18Y 6M | 13.07 |
| Kotak Midcap Reg | 4 star | 0.68 | 20.86 | 22.32 | 1.38 | 60,480 | 14.87 | 1.00 (365) | 18Y 9M | 24.73 |
| Nippon India Growth Mid Cap Reg | 5 star | 2.76 | 24.56 | 24.60 | 1.53 | 42,042 | 22.08 | 1.00 (30) | 30Y 2M | 6.00 |
| Motilal Oswal Midcap Reg | 5 star | -13.28 | 24.58 | 27.38 | 1.54 | 38,003 | 21.21 | 1.00 (365) | 11Y 10M | 124.00 |
Portfolio Analysis of HSBC Midcap Fund
| No. of Stocks | 78 |
| Top 10 Stocks | 35.41% |
| Top 5 Stocks | 19.91% |
| Top 3 Sectors | 75.75% |
| Portfolio P/B Ratio | 6.75 |
| Portfolio P/E Ratio | 50.40 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 66,239 | 64,456 |
| Giant (%) | 10.44 | 5.25 |
| Large (%) | 44.38 | 40.03 |
| Mid (%) | 39.57 | 55.71 |
| Small (%) | 5.61 | 4.06 |
| Tiny (%) | — | 2.05 |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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