The Asset...NSE CNX Nifty and S&P BSE Sensex were up 5.6% and 4.7% respectively, while the broader...

The Asset

Factsheet January 2018

Index

Fund Manager Commentary

HSBC Equity Fund

HSBC India Opportunities Fund

HSBC Midcap Equity Fund

HSBC Infrastructure Equity Fund

HSBC Tax Saver Equity Fund

HSBC Emerging Markets Fund

HSBC Brazil Fund

HSBC Managed Solutions India - Growth

HSBC Managed Solutions India - Moderate

HSBC Managed Solutions India - Conservative

Fund Managers - Equity

Fund Manager Wise Comparative Performance of Equity Schemes

HSBC Monthly Income Plan

HSBC Dynamic Fund

HSBCAsia Pacific (Ex Japan) Dividend Yield Fund

HSBC Income Fund - Investment Plan

HSBC Income Fund - Short Term Plan

HSBC Cash Fund

HSBC Ultra Short Term Bond Fund

HSBC Flexi Debt Fund

Fund Managers - MIP & Debt

Comparative Performance of Debt Schemes

Section II - How to read Factsheet

HSBC Global Consumer Opportunities Fund

SIP Performance of Equity Schemes

Fund Manager Wise

01

05

06

07

08

09

10

11

12

13

14

15

16

17

20

25

30

31

32

33

34

35

36

37

38

18

-

Large cap market indices continued to rally

Market momentum continued to be positive with domestic market indices marking new highs, while the midcap and smallcap indices traded weak

during the month. The frontline market indices saw the best monthly performance since March 2016 and also outperformed the broader market

indices in a meaningful manner. NSE CNX Nifty and S&P BSE Sensex were up 5.6% and 4.7% respectively, while the broader market indices S&P

BSE Midcap and Smallcap shed part of their earlier gains and were down 2.6% & 2.7% respectively. The extent of monthly outperformance registered

by the market indices relative to mid and smallcap indices is one of the best in recent years.

On 01 February 2018, the Union budget for FY 2019 was presented and the budget document focused on themes such as bottom of the pyramid, rural

income, farmer welfare and also the continued thrust on infrastructure development. Given that this was the last full budget of the current government

before we head to the general elections in Apr – May 2019, there were some expectations of it being populist with an adverse impact on the fiscal

roadmap. In this backdrop, the government has managed a balanced budget with a realistic approach to the fiscal aspects and at the same time

provided room for spends for electoral optimism. Government launched a mega heath protection scheme that will cover 100 mn poor families leading

to 500 mn end beneficiaries. The introduction of 10% Long Term Capital Gain Tax (LTCG) on equities along with the 10% dividend distribution tax on

equity MFs, could impact near market sentiments, however the clause on grandfathering of all gains upto 31 January 2018 has brought in a decent

clarity on its implication on investors. The fiscal deficit targets for FY18/FY19 (3.5% / 3.3%) though came slightly above earlier expectations, which

meant a temporary halt to the path set out for fiscal consolidation. However, government asserted the commitment towards Fiscal Reforms and

Budgetary Management (FRBM) committee report and aims to bring down the central government's debt to GDP ratio to 40%. Overall, this year's

budget focus on improving rural income, farmer welfare and the masses in general, should aid domestic consumption while the continued thrust on

infrastructure development is directionally positive.

The quarterly earnings season trends so far appear to suggest a recovery, aided by a favourable base that was impacted by demonetisation in theprevious year. Financials names are seeing traction in loan growth aspects while asset quality trends remain steady. For IT sector, the growth outlookis turning marginally better for FY19, while the domestic demand led sectors such as Consumer Staples and Discretionary have reported goodvolume growth on GST stabilisation and a favourable base. With GST impact also getting factored into the 2HFY18 base, the expectation is that theaggregate earnings growth recovery would remain on the track for the remainder of this financial year.

Macro-economic data points released during the month showed mixed trends with industrial production growth picking up at 8.4% YoY on waningeffect of the GST roll-out disruption and the favourable base due to demonetisation last year. On the other hand, the reference Consumer Price Index(CPI) inflation data continued to inch up on rising food and crude prices while the Wholesale Price Index (WPI) data showed a bit of moderation. Thetrade deficit recorded a three year high on rising gold and crude imports even as exports growth showed improvement during the month.

2018 started on a strong note at the Foreign Institutional Investors (FIIs) counter as the segment net bought equities worth about USD 2.04 bn during

the month of January. FIIs had a strong 2017 as well with total net inflows of USD 7.71 bn but reversed a net outflow trend seen during December

2017. The Domestic Institutional Investors (DIIs) on the other hand had a quiet start to the new year registering a net inflow of only about USD 63 mn

impacted by the net outflows from the domestic insurers (to the tune of about USD 1.1 bn*), while Mutual Funds continued to see healthy net inflows at

about USD 1.16 bn*. The trend of net outflows from the domestic insurers has continued from 2017 wherein the segment had seen cumulative net

outflows of about USD 4.31 bn. The MFs continued on the good momentum from 2017, a year that saw a record about USD 18.35 bn of net inflows for

the segment.

It was a strong start to the new year for global equities with MSCI AC World Index gaining 5.2% (in USD). The crude oil prices continued to move up

(+3.26% in January 2018) supported by a weaker USD and a decline in the US crude inventories. In the US, the government avoided a lengthy

shutdown scenario during the month as the Congress passed a continuing resolution which extends funding until 08 February. The 4QCY17 US GDP

rose 2.6% QoQ annualised bringing the overall growth in 2017 to 2.5%, in-line with the US Federal Reserve's forecast. Elsewhere in the Eurozone,

ECB in its January policy meeting stated that the recent economic strength has boosted the central bank's confidence of inflation returning to the

target level and also remarked about the possibility of ending the Quantitative Easing process in September 2018. In Japan, the Central Bank (BoJ)

kept status-quo on rates in its January meeting, while they acknowledged the pickup in inflation but at the same time remarked that this was mainly

due to energy prices coupled with base effects.

External

Global Economic Scenario

Institutional Fund Flows

*Provisional Data for DIIs


01

Source: Bloomberg; Bombay Stock Exchange (BSE)

Retu

rns %

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

Sensex Nifty BSE200 BSE500 BSE MidCap BSE SmallCap

Indices Performance - Jan 2018

Equity Market Outlook

(RBI Policy)

( )

(Consumer Price Index or CPI)

January marked a strong start to 2018 with large cap indices climbing to record high levels. Looking back at 2017, which was a year of runawayreturns, it will be prudent to assess if such a performance can be expected in the current year. During 2017, the expected sharp interest rate hikes inthe US did not materialize, while the liquidity situation remained stable and growth began to show a synchronised uptick across major developedmarkets. In India inflation consolidated, domestic liquidity remained buoyant and interest rates saw a gradual fall but remained in a range for most partof the year. Corporate earnings growth trends disappointed but the sentiment in the markets was balanced by announcements of major reforminitiatives in the form of the bank recapitalisation scheme and the GST implementation. While valuation multiples expanded, the start of governmentinvestment in major projects led industrial companies and certain construction companies to record significant gains. The global materials priceuptick also led certain material companies to perform well in 2017.

During the month, the equity markets continued to rally, though were led by large cap indices while the mid and smallcap indices underperformed. Thedivergence in the performance of the large cap indices to that of mid / smallcap indices seen during the month, came on the back of a strongoutperformance of the latter during 2017 and the valuations premium they command over the large cap peers. While we see earnings growthmomentum improving for the remainder of this fiscal and through FY19, the growth expectations embedded in mid / smallcap valuations are higherthan that in large caps, at the aggregate indices levels. So the focus of the market and investors will now shift to tracking the trends of earnings growthdelivery versus the expectations.

We expect earnings growth in India to remain strong into the second half of FY18 and well into the next financial year. However valuations remain in ahigher than historical range vis-à-vis earnings. The expected increase in Return on Equities or RoEs following margin expansion and lower rates ofinterest signal a stable environment in spite of the current high valuations. Price to book or PB multiples however are well within the long termaverages and the market may be pricing in a much stronger recovery than in the estimates so far. We do expect market volatility to be driven bypolitical and geopolitical events as and when they occur during the year but we do not think fundamentals to deteriorate very significantly. North Koreaand the fresh turmoil in the Middle East may continue to be geopolitical irritants and may threaten to become center stage. Interest rates in India willbe range bound with short spurts of easing on the back of news flow and vice versa. However we do not expect them to rise substantially in the nearfuture and nor do we expect a steep fall in the same. The other factors to closely track would be the global economy and the interest rate actions in theUS.

We remain constructive on the India story from a medium to long term perspective. For investors with a long term investment horizon, equityinvestments provide the potential to deliver relatively better returns vis-à-vis other alternatives and also can act as an avenue for long term wealthcreation. Therefore, we continue to urge investors to approach equity investing from a long term perspective and always keep the asset allocationplan in mind, taking into account one's risk appetite and future goals in mind.

RBI has kept the policy rate unchanged at 6% and retained its “neutral” stance. Inflation expectations for Q4FY18 has been revisedupwards to 5.1% (versus its target of 4.3-4.7%). For FY19, RBI's inflation projections are 5.1 – 5.6% in 1H and 4.5 – 4.6% in 2H. Upside risks includeHRA increases from state government, crude prices, impact from MSP increase in Khariff season, increase in customs duty and normalization ofmonetary policy by advanced economies. The downside risks could originate from subdued capacity utilization, moderate rural wage growth andsofter commodity prices. On balance, RBI pointed out that growth is in an emerging stage and needs to be carefully nurtured. RBI's Gross ValueAdded or GVAestimate for FY19 is at 7.2% versus 6.6% for FY18.

Overall, though RBI has alleviated immediate worries of overtly hawkish stance combined with hikes for the time being, the important poser bymarket in terms of the market dislocation and demand supply continues. By stating that RBI will not intervene to maintain yield levels in normalcircumstances, the expectation of Open Market Operations or OMO purchases is kept at bay.

%. Fiscal deficit of FY18 is now estimated at 3.5% versusmarket expectation of around 3.4%, and compared to 3.2% originally budgeted. This however was reasonable given lower dividends and only 8months of GST ( and 3 months of excise) contributing to only 11 months of indirect tax collection.

Gross borrowing number as reported in the budget is Rs.6.05 trillion in FY 19 versus Rs.5.98 trillion in FY 18. This assumes a buyback of Rs.720 bn inFY 19. Further, part of next year maturity (Rs. 650 bn) is expected to be financed by pending switch and buyback this year. However the

Budget proposed that Minimum Support Price or MSPs would be calculated as cost of production plus 50%. However many of the crops already haveMSPs in the range of 30%-50% over cost of production. Hence the

Other highlights in the budget included introduction of Long-term capital gain tax on equity investments and announcement of a. with spends on infrastructure up 21% y-o-y.

GOI announced about Rs.890 billion worth of recapitalization bonds will be issued by Government of India withmaturity between 10-15 years, at a coupon rate of 3 month average of G-Sec rate of the corresponding tenor plus a spread. The same amountwill be infused as equity into banks, thus making it cash neutral. The recapitalization bonds issued will be non-SLR and non-tradable, in line withmarket expectations.

December 2017 CPI inflation hardened to 17-month high 5.2% in Dec 2017 from 4.9% in Nov 2017, led by jump ininflation for housing, and base-effect led uptick in food inflation, while core inflation remained largely flat. Nevertheless, the uptick in crude oil priceremains one of the biggest upside risk factors to inflation. On the other hand, possible softening in vegetables prices going forward could stem the risein inflation.

Budget Fiscal deficit of FY19 budgeted at 3.3% versus market expectation of 3.2

netborrowings in FY 19 will be Rs. 3.9 trillion which is similar to FY18.

incremental rise in MSPs is expected to be manageable and may not lead tosignificant rise in inflation

National HealthProtection Scheme Budget nevertheless also continued its focus on infrastructure

(Bank Recapitalisaiton)

RBI's Monetary Policy, Economic Indicators

Inflation


02

Source: Bloomberg; Central Statistical Organization (CSO) India

Infl

atio

n G

row

th(%

)

0

1%

2%

3%

4%

5%

6%

7%

8%

9%

Feb-1

4

Apr-

14

Jun-1

4

Aug-1

4

Oct-

14

Dec-1

4

Feb-1

5

Apr-

15

Jun-1

5

Aug-1

5

Oct-

15

Dec-1

5

Feb-1

6

Apr-

16

Jun-1

6

Aug-1

6

Oct-

16

Dec-1

6

Feb-1

7

Apr-

17

Jun-1

7

Aug-1

7

Oct-

17

Dec-1

7

CPI Inflation (%)

Consumer Price Index (CPI)

(Wholesale Price Index or WPI)

(Index of Industrial Production or IIP)

Oil

Liquidity turns negative

WPI inflation came in at 3.6% in December v/s 3.9% in November and lower than market expectations. Food prices

softened to 4.72% in December from 6.1% in November driven by a sharp 22% correction in vegetable prices, which was sharper than the 7% m-o-m

correction seen in retail vegetable prices (CPI inflation). Core WPI inflation rose to 3.1% v/s 3.0% in the previous month while fuel inflation also rose

sharply to 9.6%.

India's industrial production growth rose to its highest level in 25-months, posting a print of 8.4% YoY in Nov-

17 vis-à-vis 2.0% in Oct-17 perhaps indicating the beginning on broad based growth. The growth was seen on all sections viz. consumer durables,

non-durables and capital goods.

Fixed income markets remained in the negative territory for most part of the month driven by supply worries, oil and fiscal slippage. Post budget with

the news around fiscal deviation saw a sell off and 10 year peak of 7.66%. However, markets did see a pullback with the news around possible OMOs

and raising FII limits, which will abate the supply worries.Alongside RBI has also cancelled the auction on Feb 2 .

State Development loans or SDLs have also seen widening in absolute yields in recent auction along with G-Secs and spreads have also

widened to 60-65 bps from 10 years G-sec from the tight levels of 55 bps. Corporate bonds, especially in the shorter end segments also traded

weak, with liquidity tightness heading into the end of the financial year. Current levels of 3- 5 years corporate bonds remain attractive.

Trade deficit worsened to USD 14.9 bn in December from USD 13.8 bn in November. The increase in trade deficit was driven mainly by sharp increase

in oil and gold imports which surged 34.9% and 71.5% respectively over the previous year. Non-oil non-gold imports grew 12%. Exports grew 12%

which was lower than the 30% growth seen in November.

Imports which surged 34.9% and 71.5% respectively over the previous year. Non-oil non-gold imports grew 12%. Exports grew 12% which was lower

than the 30% growth seen in November.

Oil prices continued to see an upwards in the month of Jan with the reports of continued supply cuts. However post its peak it has trendeddownwards towards $67 on the back of higher potential supply from the US.

nd

Liquidity saw continued tightening and remained negative throughout the month (excluding MSS).Also with the expectation that government is goingto carry additional cash of INR 393 bn, room for liquidity easing remains limited. Towards the end of the fiscal year Market Stabilisation Scheme orMSS redemption of INR 1000 bn may provide some relief.

RBI will continue its vigil on inflation. However, the mention of emerging growth recovery is comforting. Fixed income market has pushed up yieldsince last 6 months in a big way to discount most risks projected by RBI.

Though RBI has alleviated immediate worries of overtly hawkish stance combined with hikes for the time being, the important poser by market interms of the market dislocation and demand supply continues. By stating that RBI will not intervene to maintain yield levels in normal circumstances,the expectation of OMO purchases is kept at bay.

Demand Supply Balancing of G sec will be possibly achieved through foreign participation, tapping retail market for G sec and encouragingdeposits in banking system.

Trade deficit

Markets

Going Forward

03


Source: Bloomberg, for all data except where mentioned otherwise

Source: Bloomberg

Gro

wth

%

-6.0%

-1.0%

4.0%

9.0%

14.0%

Ja

n/1

3

Ma

r/1

3

Ma

y/1

3

Ju

l/1

3

Se

p/1

3

No

v/1

3

Ja

n/1

4

Ma

r/1

4

Ma

y/1

4

Ju

l/1

4

Se

p/1

4

No

v/1

4

Ja

n/1

5

Ma

r/1

5

Ma

y/1

5

Ju

l/1

5

Se

p/1

5

No

v/1

5

Ja

n/1

6

Ma

r/1

6

Ma

y/1

6

Ju

l/1

6

Se

p/1

6

No

v/1

6

Ja

n/1

7

Ma

r/1

7

Ma

y/1

7

Ju

l/1

7

Se

p/1

7

No

v/1

7

Index of Industrial Production (IIP)* new series data

IIP YoY Growth in % (New Series; base 2011- 12)

Rate

%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

10.00%

Jul/07

Jan/0

8

Jul/08

Jan/0

9

Jul/09

Jan/1

0

Jul/10

Jan/1

1

Jul/11

Jan/1

2

Jul/12

Jan/1

3

Jul/13

Jan/1

4

Jul/14

Jan/1

5

Jul/15

Jan/1

6

Jul/16

Jan/1

7

Jul/17

Jan/1

8

Repo Rate Movement

Repo Rate

04


Consumer Discretionary

Consumer Staples

Energy

Financials

Healthcare

Industrials

Information Technology

Materials

Telecommunication

Utilities

Sectors HSBCEquityFund #

HSBC IndiaOpportunities

Fund #

HSBCMidcap

Equity Fund

Overweight Underweight Neutral

#The benchmark for HSBC Equity Fund and HSBC India Opportunities Fund have changed w.e.f. 11th November, 2016 as a more suitable benchmarkwas identified which better matched the portfolio strategy. There has been no change to investment management of the scheme.

Review: HSBC Equity Fund

Positive ContributorsFinancials & Industrials - being overweight & certain stock (s) selection helped performanceEnergy – being underweight & certain stock (s) selection helped performanceUtilities, Healthcare & Consumer Staples – being underweight helped performance

Negative ContributorsInformation Technology - being underweight & certain stock (s) selection hurt performanceConsumer Discretionary & Telecommunication - being overweight & certain stock (s) selection hurt performanceMaterials – being overweight hurt performance

Review: HSBC India Opportunities Fund

Positive Contributors

Negative Contributors

Materials – certain stock (s) selection helped performanceUtilities & Healthcare – being underweight helped performance

Telecommunication - being overweight & certain stock (s) selection hurt performanceInformation Technology & Energy - being underweight hurt performanceIndustrials & Consumer Staples - certain stock (s) selection hurt performance

Review: HSBC Midcap Equity Fund

Positive ContributorsMaterials - being overweight & certain stock (s) selection helped performanceInformation Technology - being underweight & certain stock (s) selection helped performanceTelecommunication & Utilities – being underweight helped performance

Negative ContributorsHealthcare – being underweight & certain stock (s) selection hurt performanceConsumer Discretionary – being overweight & certain stock (s) selection hurt performanceEnergy - being overweight hurt performance

Review: HSBC Dynamic Fund

The cash levels and sector allocation in the fund are likely to change depending on the market conditions and technical factors.

Review: HSBC Monthly Income Plan

Our current exposure is 24.07% in HMIP. Currently it is more biased towards large caps than mid or small caps.

HSBC Equity Fund (HEF)An Open Ended Diversified Equity Scheme

Investment Objective: Aims to generate long term capital growth from an actively managed portfolio of equity and equityrelated securities.

05

FUND DETAILS

Weighted Average Monthly Total Expenses ratios(Annualized)

Portfolio Turnover

Regular 2.47%Direct Plan 1.68%Excludes GST on Investment Management fees of 0.28% ofTotal NetAssets.

0.89

Asset Allocation

Auto 7.87%

AutoAncillaries 1.31%

Banks 34.18%

Cement 3.16%

Construction Project 7.11%

Consumer Non Durables 5.23%

Ferrous Metals 4.44%

Finance 7.20%

Non - Ferrous Metals 4.15%

Oil 2.19%

Petroleum Products 5.52%

Pharmaceuticals 1.35%

Power 1.47%

Software 8.96%

Telecom - Services 2.52%

Other Equity Investments 1.13%

Reverse Repos/CBLOs 1.57%

Net CurrentAssets 0.64%

Total NetAssets 100.00%

Statistical ratios disclosed as per monthly returns (absolute) forthe last 3 years.

$The benchmark was changed w.e.f. 11th November, 2016 as amore suitable benchmark was identified which better matchedthe portfolio strategy. There has been no change to investmentmanagement of the scheme.

@ Effective from March 1, 2013 for prospective investments.

**Risk free rate: 6.00% (FIMMDA-NSE Mibor) as on Jan 31,2018)

Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: 10 per unit.`

Auto

Auto Ancillaries

Banks

Cement

Construction Project

Consumer Non Durables

Ferrous Metals

Finance

Non - Ferrous Metals

Oil

Petroleum Products

Pharmaceuticals

Power

Software

Telecom - Services

Other Equity Investments 786.77 1.13%

Cash Equivalents

Maruti Suzuki India 2,377.43 3.41%

Mahindra & Mahindra 1,907.63 2.74%

Tata Motors 1,198.50 1.72%

Motherson Sumi Systems 914.50 1.31%

HDFC Bank 7,019.95 10.07%

ICICI Bank 6,000.15 8.61%

Yes Bank 3,544.00 5.08%

Axis Bank 2,968.00 4.26%

IndusInd Bank 2,629.65 3.77%

Kotak Mahindra Bank 1,663.43 2.39%

Dalmia Bharat 1,174.10 1.68%

Shree Cement 1,032.38 1.48%

Larsen & Toubro 4,957.75 7.11%

ITC 2,714.00 3.89%

Britannia Industries 936.83 1.34%

Tata Steel 1,938.89 2.78%

JSW Steel 1,159.80 1.66%

HDFC 2,934.45 4.21%

Indiabulls Housing Finance 2,086.43 2.99%

Vedanta 2,892.98 4.15%

Oil & Natural Gas Corporation 1,525.88 2.19%

Reliance Industries 3,845.20 5.52%

Aurobindo Pharma 944.33 1.35%

NTPC 1,021.50 1.47%

Infosys 4,025.88 5.78%

HCL Technologies 2,219.74 3.18%

Bharti Airtel 1,759.40 2.52%

CBLO 1,093.66 1.57%

Net Current Assets 433.25 0.64%

Total Net Assets As On 31-Jan-2018 69,706.41 100.00%

FUND PORTFOLIO

IssuerMarket Value

( in Lacs)`

% to NetAssets

Dividend DeclarationRecord Date / periodof dividend declared

Dividend ( per unit)Non-Institutional

` Dividend ( per unit)Institutional

` NAV ( ) per unit(cum dividend)

`

HSBC Equity Fund - Dividend

28-Dec-17 3.50000 3.50000 33.2519HSBC Equity Fund - Dividend - Direct Plan

28-Dec-17 3.50000 3.50000 34.7739

10-Nov-15 3.70000 3.70000 29.404602-Nov-16 3.00000 3.00000 30.0022

10-Nov-15 3.70000 3.70000 30.080602-Nov-16 3.00000 3.00000 31.0071

Date of Allotment

BenchmarkNAV (Growth)(as on 31.01.18)Monthly Average AUM(In Lakhs)Fund ManagerSIPMinimumApplication Amount

Exit Load

Standard DeviationBeta (Slope)Sharpe Ratio**

$

@

per unit

Statistical Ratios

10-Dec-02Nifty 50

Neelotpal SahaiAvailable

10,000

1,000 p.m.(SIP)

Nil

4.22%

`

`

`

211.3009

1.02100.0960

68,967.08

Investors understand that their principalwill be at Moderately High risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:

• To create wealth over longterm

• Investment in equity andequity related securities

HSBC Equity Fund (HEF)

* Investors should consult their financial advisers if in doubt aboutwhether the product is suitable for them.

HSBC India Opportunities Fund (HIOF)

06

FUND DETAILS


Portfolio Turnover

Regular 2.52%

Direct Plan 1.69%

Excludes GST on Investment Management fees of 0.20% of TotalNetAssets.

0.55

Asset Allocation

Auto 8.40%AutoAncillaries 1.06%Banks 25.35%Cement 4.65%Chemicals 2.62%Construction Project 3.82%Consumer Non Durables 1.67%Ferrous Metals 3.89%Finance 11.47%Industrial Products 2.76%Non - Ferrous Metals 3.68%Pesticides 1.04%Petroleum Products 3.71%Pharmaceuticals 1.46%Software 6.27%Telecom - Services 2.10%Textile Products 2.19%Other Equity Investments 10.83%Reverse Repos/CBLOs 2.03%Net CurrentAssets 1.00%Total NetAssets 100.00%

Statistical ratios disclosed as per monthly returns forthe last 3 years.


(absolute)

@Effective from March 1, 2013 for prospective investments.

**Risk free rate: % (FIMMDA-NSE Mibor) as on)

6.00 Jan 31,2018


FUND PORTFOLIO

Auto

Auto Ancillaries

Banks

Cement

Chemicals



Ferrous Metals

Finance

Industrial Products


Pesticides

Petroleum Products

Pharmaceuticals

Software

Telecom - Services

Textile Products

Other Equity Investments 7,011.15 10.83%

Cash Equivalents

CBLO 1,313.53 2.03%



Tata Motors 1,997.50 3.08%

Eicher Motors 1,346.18 2.08%

Mahindra & Mahindra 1,144.58 1.77%

Maruti Suzuki India 950.97 1.47%

Balkrishna Industries 685.11 1.06%

HDFC Bank 6,518.53 10.06%

ICICI Bank 4,941.30 7.62%

Yes Bank 3,189.60 4.92%

Axis Bank 1,780.80 2.75%

Dalmia Bharat 1,320.86 2.04%

JK Cement 947.67 1.46%

NCL Industries 742.77 1.15%

Balaji Amines 886.48 1.37%

Vinati Organics 809.24 1.25%

Larsen & Toubro 2,478.88 3.82%

ITC 1,085.60 1.67%

Jindal Steel & Power 1,065.80 1.64%

Srikalahasthi Pipes 752.80 1.16%

Tata Steel 705.05 1.09%

Bharat Financial Inclusion 3,154.95 4.87%

Bajaj Finance 2,516.78 3.88%

Manappuram Finance 1,109.50 1.71%

JM Financial 652.60 1.01%

Supreme Industries 1,107.76 1.71%

Astral Poly Technik 678.94 1.05%

Vedanta 2,382.45 3.68%

UPL 676.85 1.04%

Reliance Industries 2,403.25 3.71%


Infosys 2,588.06 3.99%

HCL Technologies 1,479.83 2.28%

Idea Cellular 698.25 1.08%

Bharti Airtel 659.78 1.02%

Arvind 723.36 1.12%

Welspun India 690.50 1.07%

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC India Opportunities Fund - Dividend

HSBC India Opportunities Fund - Dividend Direct Plan

17-Mar-15 2.70000 2.70000 27.082010-Nov-15 1.50000 1.50000 21.8624

17-Mar-15 1.50000 1.50000 27.557510-Nov-15 1.50000 1.50000 23.4738

24-Mar-17 1.50000 1.50000 25.8408

24-Mar-17 1.50000 1.50000 28.1677

An Open Ended Flexi-Cap Equity Scheme

Investment Objective: Seeks long term capital growth through investments across all market capitalisations, including small,mid and large cap stocks. It aims to be predominantly invested in equity & equity related securities. However it could move asignificant portion of its assets towards fixed income securities if the fund manager becomes negative on equity markets.

Date of Allotment

Benchmark

NAV (Growth)(as on )

Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

$

@

per unit

Monthly Average AUM(In Lakhs)

31.01.18

Statistical Ratios

24-Feb-04

S&P BSE 200

65,113.25

Neelotpal Sahai

Available

10,000

1,000 p.m.(SIP)

Nil

4.59%

`

`

`

92.5173

1.0615

0.1044


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities acrossmarket capitalisations

HSBC India Opportunities Fund (HIOF)


HSBC Midcap Equity Fund (HMEF)

This product is suitable for investors who are seeking*:

�

�

�

Overnight liquidity over short term

Investment in Money Market Instruments

Low riskLOW RISK

(BLUE)

Note: Risk is represented as -

*Investors should consult their financial advisers if in doubt whether the product issuitable for them

07

FUND DETAILS


Portfolio Turnover

Regular 2.45%

Direct Plan 1.68%

Excludes GST on Investment Management fees of 0.21% ofTotal NetAssets.

0.37

Asset Allocation


(absolute)



6.00 Jan 31,2018


FUND PORTFOLIO

Auto

Auto Ancillaries

Banks

Cement

Chemicals

Construction



Ferrous Metals

Finance

Industrial Capital Goods

Industrial Products

Media & Entertainment

Minerals/Mining

Petroleum Products

Pharmaceuticals

Power

Software

Textiles - Synthetic

VST Tillers Tractors 2,026.38 3.16%

Apollo Tyres 1,949.60 3.04%

Federal Bank 873.92 1.36%

Deccan Cements 2,525.05 3.94%

Balaji Amines 2,984.35 4.66%

Vinati Organics 2,629.31 4.10%

GOCL Corporation 2,055.23 3.21%

Navin Fluorine International 1,094.59 1.71%

IRB Infrastructure Developers 964.80 1.51%

Indiabulls Real Estate 916.73 1.43%

Kridhan Infra 876.93 1.37%

Apex Frozen Foods 2,350.74 3.67%

Kaveri Seed Company 2,159.95 3.37%

CCL Products (India) 1,856.77 2.90%

Srikalahasthi Pipes 2,522.88 3.94%

Jindal Steel & Power 1,012.51 1.58%

Indiabulls Housing Finance 3,053.14 4.76%

Manappuram Finance 2,675.00 4.17%

Motilal Oswal Financial Services 2,294.72 3.58%

Dewan Housing Finance Corporation 1,845.57 2.88%

JM Financial 1,435.72 2.24%

Muthoot Finance 1,403.55 2.19%

Cholamandalam Investment & Fin Co. 1,361.67 2.13%

Bharat Financial Inclusion 641.51 1.00%

Sanghvi Movers 1,019.83 1.59%

Ramkrishna Forgings 1,524.23 2.38%

CMI 744.01 1.16%

Jain Irrigation Systems 664.76 1.04%

KEI Industries 650.16 1.01%

Jagran Prakashan 1,859.94 2.90%

Gujarat Mineral Development Corporation 2,358.31 3.68%

Hindustan Petroleum Corporation 1,193.10 1.86%

Aurobindo Pharma 1,036.33 1.62%

Kalpataru Power Transmission 984.71 1.54%

Sonata Software 1,727.86 2.70%

One Point One Solutions 814.83 1.27%

Sarla Performance Fibers 902.07 1.41%

Other Equity Investments 3,886.23 6.07%

Cash Equivalents

CBLO 1,266.20 1.98%

Net Current Assets -66.72 -0.11%


IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Midcap Equity Fund - Dividend19-Nov-10 2.00 2.00 15.486410-Nov-15 2.50 2.50 20.1838

02-Nov-16 1.75 1.75 25.3345

02-Nov-16 1.75 1.75 21.5706HSBC Midcap Equity Fund - Dividend - Direct Plan

An Open Ended Diversified Equity Scheme

Investment Objective: Seeks to generate long term capital growth from an actively managed portfolio of equity and equityrelated securities primarily being midcap stocks. However, it could move a portion of its assets towards fixed income securitiesif the fund manager becomes negative on the Indian equity markets.

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.01.18

Statistical Ratios

19-May-05

S&P BSE Midcap

67,186.17

Dhiraj Sachdev

Available

10,000

1,000 p.m.(SIP)

Nil

5.90%

`

`

`

62.4855

1.0944

0.1723


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• To create wealth over long

term• Invests in predominantly mid

cap equity and equity relatedsecurities

HSBC Midcap Equity Fund (HMEF)


Auto 3.16%

AutoAncillaries 3.04%

Banks 1.36%

Cement 3.94%

Chemicals 13.68%

Construction 2.94%




Finance 22.95%

Industrial Capital Goods 1.59%

Industrial Products 5.59%

Media & Entertainment 2.90%

Minerals/Mining 3.68%



Power 1.54%

Software 3.97%

Textiles - Synthetic 1.41%



Net CurrentAssets -0.11%


HSBC Infrastructure Equity Fund (HIEF)


�

�

�



Low riskLOW RISK

(BLUE)



08

FUND DETAILS

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta

Sharpe Ratio**

$

@

per unit


(Slope)

31.01.18

Statistical Ratios

23-Feb-06

S&P BSE IndiaInfrastructure Index

18,316.64

Dhiraj Sachdev

Available

10,000

1,000 p.m.(SIP)

Nil

5.61%

`

`

`

25.5539

1.0313

0.0788


Portfolio Turnover

Regular 2.60%

Direct Plan 1.88%


0.37

Asset Allocation

Banks 2.06%

Cement 5.52%

Chemicals 4.91%

Construction 10.72%



Finance 2.58%

Gas 2.69%

Industrial Capital Goods 7.95%

Industrial Products 12.14%

Minerals/Mining 6.92%


Power 5.01%

Transportation 4.04%







(absolute)



6.00 Jan 31,2018


FUND PORTFOLIO

Banks

Cement

Chemicals

Construction


Ferrous Metals

Finance

Gas

Industrial Capital Goods

Industrial Products

Minerals/Mining

Petroleum Products

Power

Transportation


Cash Equivalents

CBLO 776.85 4.38%



Karnataka Bank 365.06 2.06%

Deccan Cements 979.77 5.52%

GOCL Corporation 870.02 4.91%

KNR Constructions 612.77 3.46%

IRB Infrastructure Developers 530.64 2.99%

Ahluwalia Contracts (India) 434.81 2.45%

NBCC India 322.44 1.82%

Kridhan Infra 580.93 3.28%

Power Mech Projects 245.40 1.38%

Larsen & Toubro 212.48 1.20%

Srikalahasthi Pipes 1,303.04 7.35%

Jindal Saw 827.23 4.66%

Jindal Steel & Power 506.26 2.85%

Rural Electrification Corporation 457.17 2.58%

Gujarat State Petronet 476.70 2.69%

Sanghvi Movers 641.17 3.62%

Voltamp Transformers 579.35 3.27%

Inox Wind 188.21 1.06%

KEI Industries 1,102.41 6.22%

CMI 645.56 3.64%

Schaeffler India 404.57 2.28%

Gujarat Mineral Development Corporation 1,227.51 6.92%

Indian Oil Corporation 770.05 4.34%

Hindustan Petroleum Corporation 716.85 4.04%

PTC India 406.53 2.29%

Reliance Infrastructure 275.47 1.55%

Power Grid Corporation Of India 207.37 1.17%

Adani Ports & Special Economic Zone 716.18 4.04%

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Infrastructure Equity Fund Dividend11-May-07 1.00 1.00 12.239026-May-08 1.00 1.00 13.7160

An Open Ended Equity Scheme

Investment Objective: Seeks to generate long term capital growth from an actively managed portfolio of equity and equityrelated securities by investing primarily in sectors, areas and themes that play an important role in, and/or benefit from India'sprogress, reform process and economic development.

Investors understand that their principalwill be at High risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities, primarily inthemes that play an importantrole in India's economicdevelopment

HSBC Infrastructure Equity Fund (HIEF)


HSBC Tax Saver Equity Fund (HTSF)

09

FUND DETAILS

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.01.18

Statistical Ratios

05-Jan-07

S&P BSE 200

Aditya Khemani

Available

500

(Lumpsum & SIP)

Nil

4.44%

`

`

39.7176

0.9884

0.1318

19,710.48


Portfolio Turnover

Regular 2.58%

Direct Plan 1.87%


0.54

Asset Allocation

Auto 5.78%AutoAncillaries 5.89%Banks 32.09%Cement 7.35%Construction 2.90%Construction Project 3.69%Consumer Durables 3.58%Consumer Non Durables 6.85%Finance 4.91%Industrial Products 7.77%Non - Ferrous Metals 2.89%Petroleum Products 2.20%Pharmaceuticals 4.67%Software 3.43%Telecom - Services 2.97%Textile Products 1.54%Textiles - Cotton 1.39%Transportation 2.10%Other Equity Investments 0.14%Reverse Repos/CBLOs 1.05%Net CurrentAssets -3.19%Total NetAssets 100.00%


(absolute)



6.00 Jan 31,2018


FUND PORTFOLIO

Auto

Auto Ancillaries

Banks

Cement

Construction


Consumer Durables


Industrial Products


Petroleum Products

Pharmaceuticals

Software

Telecom - Services

Textile Products

Textiles - Cotton

Transportation

Maruti Suzuki India 768.67 4.08%

Mahindra & Mahindra 320.48 1.70%

MRF 469.98 2.50%

Exide Industries 335.03 1.78%

Amara Raja Batteries 303.79 1.61%

HDFC Bank 1,889.37 10.04%

ICICI Bank 1,882.81 10.00%

IndusInd Bank 1,157.05 6.15%

Federal Bank 444.11 2.36%

DCB Bank 369.45 1.96%

Axis Bank 296.80 1.58%

NCL Industries 862.68 4.58%

OCL India 520.72 2.77%

Somany Ceramics 545.78 2.90%


Crompton Greaves Consumer Electrical 373.73 1.99%

Blue Star 298.40 1.59%

United Spirits 384.42 2.04%

Heritage Foods 383.43 2.04%

Balrampur Chini Mills 280.95 1.49%

ITC 241.27 1.28%

Cholamandalam Investment & Fin Co. 527.28 2.80%

JM Financial 396.20 2.11%

Finolex Cables 501.38 2.66%

Nilkamal 486.02 2.58%

Astral Poly Technik 283.85 1.51%

Kirloskar Brothers 192.24 1.02%

Vedanta 544.56 2.89%

Reliance Industries 413.36 2.20%

Torrent Pharmaceuticals 490.46 2.61%

Sun Pharmaceutical Industries 386.79 2.06%

Infosys 645.53 3.43%


Indian Terrain Fashions 290.63 1.54%

Indo Count Industries 261.07 1.39%

Interglobe Aviation 394.86 2.10%

Finance


Cash Equivalents

CBLO 198.11 1.05%



IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Tax Saver Equity Fund Dividend

HSBC Tax Saver Equity Fund Dividend Direct30-Jan-18 2.50000 2.50000 26.4229

30-Jan-18 2.50000 2.50000 27.6259

23-Mar-16 1.50000 1.50000 19.467524-Mar-17 1.50000 1.50000 23.1073

23-Mar-16 1.50000 1.50000 19.995024-Mar-17 1.50000 1.50000 23.9550

An Open Ended Equity Linked Savings Scheme (ELSS)

Investment Objective: Aims to provide long term capital appreciation by investing in a diversified portfolio of equity & equityrelated instruments of companies across various sectors and industries, with no capitalisation bias. The Fund may also investin fixed income securities.


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• To create wealth over long

term• Invests in equity and equity

related securities with nomarket capitilastion bias

HSBC Tax Saver Equity Fund (HTSF)


HSBC Dynamic Fund (HDF)

10

FUND DETAILS

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.01.18

Statistical Ratios

24-Sep-07

S&P BSE 200

Neelotpal Sahai

(for Equity portion)

Sanjay Shah

(for Fixed Income portion)

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

3.49%

18.4406

0.8495

0.0848

4,620.53


Portfolio Turnover

Regular 2.67%

Direct Plan 1.97%Excludes GST on Investment Management fees of 0.35% of TotalNetAssets.

0.72

Asset Allocation

Auto 7.34%

Banks 33.39%




Finance 3.27%

Non - Ferrous Metals 3.64%



Power 2.91%

Software 9.59%

Telecom - Services 2.82%






(absolute)



6.00 Jan 31,2018

FUND PORTFOLIO

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Scheme

Investment Objective: To provide long term capital appreciation by allocating funds in equity and equity related instruments. It

also has the flexibility to move, entirely if required, into debt instruments in times that the view on equity markets seems negative.

Auto

Banks



Ferrous Metals

Finance


Petroleum Products

Pharmaceuticals

Power

Software

Telecom - Services


Cash Equivalents

CBLO 406.11 8.69%



Mahindra & Mahindra 183.13 3.92%

Tata Motors 159.80 3.42%

HDFC Bank 461.31 9.87%

ICICI Bank 317.66 6.80%

Kotak Mahindra Bank 221.79 4.74%

Axis Bank 207.76 4.44%

Yes Bank 177.20 3.79%

IndusInd Bank 175.31 3.75%


ITC 298.54 6.39%

Tata Steel 141.01 3.02%

JSW Steel 130.48 2.79%

Indiabulls Housing Finance 153.00 3.27%

Vedanta 170.18 3.64%

Reliance Industries 384.52 8.23%


NTPC 136.20 2.91%

Infosys 310.57 6.64%

HCL Technologies 138.12 2.95%



Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities and in debtinstruments when view onequity markets is negative

HSBC Dynamic Fund (HDF)


HSBC Emerging Markets Fund (HEMF)


�

�

�



Low riskLOW RISK

(BLUE)



11

FUND DETAILS


Regular 2.68%

Direct Plan 1.98%

(inclusive of underlying scheme's expenses)Excludes GST on Investment Management fees of 0.20% of TotalNetAssets.

Asset Allocation

Overseas Mutual Fund 97.28%





(absolute)



6.00 Jan 31,2018


FUND PORTFOLIO

Overseas Mutual Fund

Cash Equivalents

CBLO 37.49 3.74%



HSBC GIF Glob Emerg Mkts Eq S1 Dis 974.96 97.28%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Scheme

Investment Objective: To provide long term capital appreciation by investing in India and in the emerging markets, in equityand equity related instruments, share classes and units/securities issued by overseas mutual funds or unit trusts. The fund mayalso invest a limited proportion in domestic debt and money market instruments.

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.01.18

Statistical Ratios

17-Mar-08

MSCI EmergingMarkets Index

971.99

Ranjithgopal K A(Dedicated fund

manager foroverseas

investments)

Available

10,000

1,000 p.m.(SIP)

Nil

4.24%

`

`

`

15.2976

1.0120

0.1020

Dividend Declaration

Record Date / periodof dividend declared




`

HSBC - Emerging Market Fund - Dividend

HSBC - Emerging Market Fund - Dividend - Direct Plan27-Jun-14 0.50000 0.50000 11.5335

27-Jun-14 0.50000 0.50000 11.6656


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Investment in equity andequity related securities ofEmerging economies

HSBC Emerging Markets Fund (HEMF)


HSBC Asia Pacific (Ex Japan)Dividend Yield Fund (HAPDF)


�

�

�



Low riskLOW RISK

(BLUE)



12

FUND DETAILS


Regular 2.28%

Direct Plan 1.58%

(inclusive of underlying scheme's expenses)


Asset Allocation






FUND PORTFOLIO


Cash Equivalents

CBLO 28.32 3.51%


Total Net Assets As On 31-Jan-2018 805.99 100.00%

HSBC GIF Asia Pacific Ex Japan Eq HD-S9D 776.09 96.29%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Fund of Funds Scheme

Investment Objective: The primary investment objective of the Scheme is to provide long term capital appreciation byinvesting predominantly in units of HSBC Global Investment Funds (HGIF) Asia Pacific Ex Japan Equity High Dividend Fund(HEHDF). The Scheme may also invest a certain proportion of its corpus in money market instruments and / or units of liquidmutual fund schemes, in order to meet liquidity requirements from time to time. However, there is no assurance that theinvestment objective of the Scheme will be achieved.

Date of AllotmentBenchmark


Fund Manager

SIPMinimumApplication Amount

Exit Load

per unit


@

31.01.18

Standard Deviation

Beta (Slope)

Sharpe Ratio**

Statistical Ratios

24-Feb-14MSCI AC Asia Pacific

ex Japan

Ranjithgopal K A (foroverseas investments),

Sanjay Shah (forinvestments in Indian

Market)Available

10,000

1,000 p.m.(SIP)

Nil

783.42

`

`

`

3.44%

14.2896

0.89400.1430


RiskometerRiskometer

Mod

erately

Mod

erately ModerateModerate

Low

Low

Hig

hH

igh

Low

Low

HighHigh

LOWLOW HIGHHIGH

Moderately

Moderately



• Investment in equity and equityrelated securities of Asia Pacificcountries (excluding Japan)through fund of funds route

HSBC Asia Pacific (Ex Japan)Dividend Yield Fund (HAPDF)



(absolute)



6.00 Jan 31,2018

HSBC Brazil Fund (HBF)


�

�

�



Low riskLOW RISK

(BLUE)



13

FUND DETAILS


Regular 2.67%

Direct Plan 1.97%


Asset Allocation






(absolute)



6.00 Jan 31,2018

FUND PORTFOLIO


Cash Equivalents

CBLO 119.31 4.49%



HSBC GIF Brazil Equity S3D 2,578.07 97.09%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open-Ended Fund of Funds Scheme

Investment Objective: The primary investment objective of the Scheme is to provide long term capital appreciation byinvesting predominantly in units/shares of HSBC Global Investment Funds (HGIF) Brazil Equity Fund. The Scheme may, at thediscretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which mayconstitute a significant part of its corpus. The Scheme may also invest a certain proportion of its corpus in money marketinstruments and/or units of liquid mutual fund schemes, in order to meet liquidity requirements from time to time.

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.01.18

Statistical Ratios

06-May-11

MSCI Brazil 10/40 Index

2,522.41

Ranjithgopal K A(Dedicated fund

manager for overseasinvestments)

Available

10,000

1,000 p.m.(SIP)

Nil

9.49%

`

`

`

8.5335

0.9180

0.0660


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities throughfeeder route in Brazilianmarkets

HSBC Brazil Fund (HBF)


HSBC Managed Solutions India - Growth (HMSG)


�

�

�



Low riskLOW RISK

(BLUE)



14

FUND DETAILS


Regular 2.24%

Direct Plan 1.97%

(inclusive of underlying scheme's expenses)

Excludes GST on Investment Management fees of 0.00% of TotalNetAssets and of 0.23% on the underlying scheme's in which thefund of fund invests.

Asset Allocation

Mutual Fund 98.49%





FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 179.08 1.11%



HSBC Equity Fund - Growth Direct 9,787.86 60.58%

HSBC Midcap Equity Fund - Growth Direct 2,994.05 18.53%

HSBC Income Fund Short Term - Growth Direct 1,381.90 8.55%

HSBC Income Fund Inv Plan Growth Direct 1,013.49 6.27%

HSBC Flexi Debt Fund Growth Direct 736.64 4.56%

IssuerMarket Value

( in Lacs)`

% to NetAssets


Investment Objective: The objective of the Plan is to provide long term total return primarily by seeking capital appreciationthrough an active asset allocation with diversification commensurate with the risk profile of investments by investingpredominantly in units of equity mutual funds as well as in a basket of debt mutual funds gold exchange traded funds (ETFs) andother ETFs, offshore mutual funds and money market instruments.

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit

Monthly Average AUM

(In Lakhs)

@

31.01.18

Standard Deviation

Beta (Slope)

Sharpe Ratio**

Statistical Ratios

30-Apr-14Composite Index constituting80% of S&P BSE 200 Index

and 20% of CRISILBond Index

16,226.22

Ranjithgopal K A (DedicatedFund Manager for investments

in foreign securities)Gautam Bhupal (For managinginvestments in Indian Market –

Equity Portion)Sanjay Shah (For managing

investments in Indian Market –Fixed Income Portion)

Available

5,000

1,000 p.m.(SIP)

Nil

Composite

`

`

`

18.4063

0.9710

0.1540

3.31%


Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• To create wealth over long term

• Investing predominantly in unitsof equity mutual funds as well asin a basket of debt mutual funds,gold & exchange traded funds,offshore mutual funds andmoney market instruments.

HSBC Managed Solutions India - Growth



(absolute)



6.00 Jan 31,2018

HSBC Managed Solutions India - Moderate (HMSM)


�

�

�



Low riskLOW RISK

(BLUE)



15

FUND DETAILS


Regular 2.12%

Direct Plan 1.87%

(inclusive of underlying scheme's expenses)Excludes GST on Investment Management fees of 0.00% of TotalNetAssets and of 0.21% on the underlying scheme's in which thefund of fund invests.

Asset Allocation

Mutual Fund 98.66%




FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 294.10 1.06%


Total Net Assets As on 31-Jan-2018 27,846.32 100.00%


HSBC Flexi Debt Fund Growth Direct 4,304.89 15.46%


HSBC Midcap Equity Fund - Growth Direct 4,230.04 15.19%


IssuerMarket Value

( in Lacs)`

% to NetAssets


Investment Objective: The objective of the fund is to provide long term total return aimed at capital appreciation and providingincome through an active asset allocation with diversification commensurate with the risk profile of investments by investing in abasket of debt mutual funds, equity mutual funds, gold ETFs and other ETFs, offshore mutual funds and money marketinstruments.

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit

Monthly Average AUM

(In Lakhs)

@

31.01.18

Standard Deviation

Beta (Slope)

Sharpe Ratio**

Statistical Ratios

30-Apr-14

CRISIL Balanced Fund

Aggressive Index)

27,847.36

Ranjithgopal K A (Dedicated FundManager for investments in

foreign securities) Gautam Bhupal(For managing investments in

Indian Market – Equity Portion)

Sanjay Shah (For managinginvestments in Indian Market –

Fixed Income Portion)

Available

5,000

1,000 p.m.(SIP)

Nil

Index

`

`

`

Aggressive(CRISIL Hybrid 35+65 -

2.64%

17.2356

0.9850

0.1660


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• To create wealth and provideincome over the long term

• Investments in a basket of debtmutual funds, equity mutualfunds, gold & exchange tradedfunds, offshore mutual fundsand money market instruments.

HSBC Managed Solutions India - Moderate



(absolute)



6.00 Jan 31,2018

HSBC Managed Solutions India - Conservative (HMSC)


�

�

�



Low riskLOW RISK

(BLUE)



16

FUND DETAILS


Regular 1.61%

Direct Plan 1.36%

(inclusive of underlying scheme's expenses)Excludes GST on Investment Management fees of 0.05% of TotalNet Assets and of 0.11% on the underlying scheme's in which thefund of fund invests.

Asset Allocation

Mutual Fund 99.53%




FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 346.31 1.10%




HSBC Flexi Debt Fund Growth Direct 5,808.22 18.44%

L&T Triple Ace Bond Fund Direct Growth 4,374.28 13.88%


IDFC Dynamic Bond Fund-Direct Pl-Growth 2,552.16 8.10%

HDFC Income Fund Direct Plan - Growth 1,021.93 3.24%


IssuerMarket Value

( in Lacs)`

% to NetAssets


Investment Objective: The objective of the Plan is to provide long term total return aimed at providing income through an active

asset allocation with diversification commensurate with the risk profile of investments by predominantly investing in units of debt

mutual funds as well as in a basket of equity mutual funds, gold ETFs and other ETFs and money market instruments.

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit


@

31.01.18

Standard Deviation

Beta (Slope)

Sharpe Ratio**

Statistical Ratios

30-Apr-14

Composite Index constitutingof 90% into CRISIL Composite

Bond Index and 10% of S&PBSE 200 Index

Ranjithgopal K A (DedicatedFund Manager for investments

in foreign securities)(For managing

investments in Indian Market –Equity Portion)

Sanjay Shah (For managinginvestments in Indian Market –

Fixed Income Portion)

Available

5,000

1,000 p.m.(SIP)

Ni

`

31,835.65

Gautam Bhupal

`

`

13.8678

0.8430

0.0440

0.84%

This product is suitable forinvestors who are seeking*:• To create wealth over long term• Investing predominantly in

units of debt mutual funds aswell as in a basket of equitymutual funds, gold & otherexchange traded funds andmoney market instruments.

Investors understand that their principalwill be at Moderate risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

HSBC Managed Solutions India - Conservative



(absolute)



6.00 Jan 31,2018

HSBC Global Consumer Opportunities Fund -(HGCOF)

Benefiting from China’sGrowing Consumption Power

17

FUND DETAILS


Regular 2.33%

Direct Plan 1.63%


Asset Allocation





FUND PORTFOLIO


Cash Equivalents

CBLO 22.27 4.89%


Total Net Assets As On 31-Jan-2018 455.07 100.00%

HSBC GIF-China Consumer Opp S5 Cap 437.19 96.07%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open-Ended Fund of Funds Scheme

Investment Objective: The primary investment objective of the scheme is to provide long term capital appreciation by investing

predominantly in units of HSBC Global Investment Funds (HGIF) China Consumer Opportunities Fund (Underlying scheme).

The Scheme may, also invest a certain proportion of its corpus in money market instruments and / or units of liquid mutual fund

schemes, in order to meet liquidity requirements from time to time.

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit


@

31.01.18

23-Feb-15

MSCI AC World Index

444.70

Ranjithgopal K A (DedicatedFund Manager) & Sanjay Shah

(for investments in IndianMarket)

Available

,000

1,000 p.m.(SIP)

Nil

`

`

`

5

12.6851


Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• To create wealth over long term• Investment in equity and equity

related securities around theworld focusing on growingconsumer behaviour of Chinathrough feeder route

HSBC Global Consumer Opportunities Fund - Benefiting fromChina’s Growing Consumption Power (HGCOF)



18

HSBC Equity Fund


HSBC Midcap Equity Fund

HSBC Infrastructure Equity Fund

HSBC Tax Saver Equity Fund

HSBC Dynamic Fund

HSBC Emerging Markets Fund

HSBC Brazil Fund

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund

HSBC Managed Solutions

HSBC Global Consumer Opportunities Fund -Benefiting from China’s Growing Consumption Power

Neelotpal Sahai (from 27 May 2013)

Neelotpal Sahai (from 27 May 2013)

Dhiraj Sachdev (from 01 December 2009)

Dhiraj Sachdev (from 01 December 2009)

Aditya Khemani (from 24 February 2009)

For Equity portion: Neelotpal Sahai (from 27 May 2013) &For Debt portion: Sanjay Shah (from 14 August 2009)

Ranjithgopal K A (from 27 February 2017)


For overseas investments: &For investment in Indian markets: Sanjay Shah (from 24 February 2014)


For overseas investment : ,For Investments in Indian Market - Equity Portion :

& For Investments in Indian Market - Debt Portion :Sanjay Shah (April 2014)

Gautam Bhupal(from 21 Oct 2015)


For Overseas Market :For Investments in Indian Market - Debt Portion : Sanjay Shah(from 13 February 2015)


Name of Scheme Fund Manager

Fund Manager’s Experience

Dhiraj SachdevSenior Vice President and Fund Manager - EquitiesB.Com., ACA, ACMA, Diploma in Foreign Trade Management (DFTM)

Experience:

Over 20 years experience in Equity Research and Fund Management.

HSBC Asset Management (India) Private LtdSenior Vice President & Fund Manager, from October 2011 to present,Senior Fund Manager from 1 December 2009 to September 2011,Head of Equity-Portfolio Management Services from October 2005 to November 2009

ASK Raymond James Securities India Private LtdPortfolio Manager from October 2003 to September 2005

HDFC Bank LtdSenior Manager Equities from November 1999 to September 2003

DSQ Software LtdBusiness Analyst from June 1999 to November 1999

Probity Research & Services Ltd (India Infoline Ltd)Research Analyst from November 1998 to May 1999

Ford Brothers Capital Services (P) LtdManager Research from July 1996 to Sept 1998

�

�

�

�

�

�

Gautam Bhupal

Vice President & Fund Manager Equities

Post Graduate Diploma in Business Management, CA, CS, B.Com (Hons)

Over 12 years of experience in areas of research and Fund Management.

HSBC Asset Management (India) Private LimitedVice President & Fund Manager, since October 2015 till date.

Fund Manager for PMS Portfolios from July 2008 till June 2015.

UTI Asset Management CompanyEquity Research Analyst from May 2004 till June 2008.

Experience:

�

�

Vice President - Investment Management, from June 2015 to October 2015.


19

Neelotpal Sahai

Senior Vice President & Head - Equities

B.Tech, PGDM (IIM Kolkata)

Over 24 years of experience in Research and Fund Management.

HSBC Asset Management (India) Private LtdSenior Fund Manager – Equities from April 2013 onwards.

IDFC Asset Management Company Ltd.Director from February 2006 to April 2013

Motilal Oswal Securities LtdSenior Research Analyst from March 2005 to January 2006

Infosys LtdSenior Project Manager from June 1999 to March 2005

Vickers Ballas Securities LtdAnalyst from September 1998 to June 1999

SBC WarburgAnalyst from May 1997 to May 1998

UTI Securities LtdEquity Analyst from June 1995 to May 1997

Experience:

�

�

�

�

�

�

�

Aditya Khemani

Vice President & Fund Manager - Equities

B.Com. (Hons.), Post Graduate Diploma in Business Management

Over 11 years experience in research.

HSBC Asset Management (India) Private LtdVice President & Fund Manager (Equity), from April 2012 to present,Assistant Fund Manager, Equities from February 2009 to March 2012;Associate Vice President - Investment Management from October 2007 to February 2009.

SBI Funds Management India Private LtdSenior Manager - Equity Research from March 2007 to September 2007

Prudential ICICI Asset Management Company India Private LtdAssistant Manager - Equity Research from December 2005 to February 2007

Morgan Stanley Advantage Services India Private LtdResearch Associate from May 2005 to November 2005

Experience:

�

�

�

�

Ranjithgopal K A

Vice President - Equities from March 2016 onwards

Associate Vice President - Investment Management (Analyst) from January 2012 to February 2016

Associate Vice President - Institutional Sales from April 2009 to December 2011

Associate Vice President - Sales & Distribution from May 2006 to April 2009

Vice President - Equities

PGDBM, BA - Economics

Over 10 years of experience in Equity Research & Sales

HSBC Asset Management (India) Private Ltd

Experience:

�


20

Funds Managed by Neelotpal Sahai.(Total Schemes Managed 3)

Funds Managed by Neelotpal Sahai.(Total Schemes Managed 3)

HSBC Equity Fund Date of Inception : 10 Dec 02

Scheme Name & Benchmarks 1 Year 3 Years 5 Years SinceInception

HSBC Equity Fund - Growth

(Scheme Benchmark)

(Standard Benchmark)

10,000, if invested in HEF, would have become

10,000, if invested in , would have become


`

`

`

Nifty 50

S&P BSE Sensex

Nifty 50

S&P BSE Sensex

28.88% 10.40% 14.35% 22.30%

30.46% 9.09% 14.18% 18.31%

31.74% 8.70% 14.21% 18.28%

12,888 13,455 19,554 212,470

13,046 12,983 19,408 128,423

13,174 12,843 19,431 127,895

` ` ` `

` ` ` `

` ` ` `


HSBC Dynamic Fund

Date of Inception : 24 Feb 04

Date of Inception : 24 Sep 07

Scheme Name & Benchmarks


SinceInception

SinceInception

HSBC India Opportunities Fund - Growth

S&P BSE 200 (Scheme Benchmark)


10,000, if invested in HIOF, would have become

10,000, if invested in S&P BSE 200, would have become


Nifty 50

Nifty 50

`

`

`

HSBC Dynamic Fund - Growth



10,000, if invested in HDF, would have become



Nifty 50

Nifty 50

`

`

`

30.43% 11.06% 19.47% 17.30%

31.70% 11.17% 15.95% 15.62%

30.46% 9.09% 14.18% 15.27%

13,043 13,699 24,339 92,558

13,170 13,739 20,957 75,715

13,046 12,983 19,408 72,580

` ` ` `

` ` ` `

` ` ` `

25.70% 9.23% 11.59% 6.08%

31.70% 11.17% 15.95% 9.96%

30.46% 9.09% 14.18% 9.32%

12,570 13,032 17,303 18,444

13,170 13,739 20,957 26,753

13,046 12,983 19,408 25,175

` ` ` `

` ` ` `

` ` ` `

Past performance may or may not be sustained in the future. Refer note below.

The said Fund is managed by Neelotpal Sahai Effective (27 May 2013)



The said Fund is managed by Sanjay Shah Effective (14 August 2009)


Funds Managed by Neelotpal Sahai (for Equity portion)Sanjay Shah (for Fixed Income portion)

(Total Schemes Managed 3)Funds Managed by (Total Schemes Managed 10)


Returns are of growth option. The returns for the respective periods are provided as on Last business day of January 2018 for the respective Schemes. Returns above 1 yearare Compounded Annualized. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specifictime period, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.

`

Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.


1 Year 3 Years 5 Years


Performance of the respective benchmark is calculated as per the Total Return Index (TRI)

As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from 10-Dec-2002 to 31-May-2007 and TRI values effective 31-May-2007.

As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values from 24-Feb-2004 to 29-Jun-2007 and TRI values effective 29-Jun-2007.

21

HSBC Brazil Fund^

Date of Inception : 06 May 11

Scheme Name & Benchmarks SinceInception

HSBC Brazil Fund - Growth

MSCI Brazil 10/40 Index (Scheme Benchmark)


10,000, if invested in HBF, would have become

10,000, if invested in MSCI Brazil 10/40 Index, would have become


Nifty 50

Nifty 50

`

`

`

15.50% 8.64% -2.72% -2.32%

21.70% 15.42% 4.13% 3.44%

30.46% 9.09% 14.18% 12.08%

11,550 12,821 8,711 8,533

12,170 15,377 12,240 12,565

13,046 12,983 19,408 21,591

` ` ` `

` ` ` `

` ` ` `

Past performance may or may not be sustained in the future. Refer note below

Returns are of growth option. The returns for the respective periods are provided as on Last business day of January 2018 for the respective Schemes. Returns above 1 yearare Compounded Annualized. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specifictime period, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

`



Funds Managed by - Ranjithgopal K A (Total Schemes Managed 7)

Funds Managed by - Ranjithgopal K A (Total Schemes Managed 7)

HSBC Emerging Markets Fund^

Date of Inception : 17 Mar 08


HSBC Emerging Markets Fund - Growth

MSCI Emerging Market Index (Scheme Benchmark)


10,000, if invested in HMEF, would have become

10,000, if invested in MSCI Emerging Market Index, would have become


Nifty 50

Nifty 50

`

`

`

29.65% 10.60% 6.98% 4.40%

33.02% 12.76% 9.55% 9.01%

30.46% 9.09% 14.18% 10.77%

12,965 13,530 14,016 15,299

13,302 14,339 15,781 23,469

13,046 12,983 19,408 27,494

` ` ` `

` ` ` `

` ` ` `



The said Fund is managed by Ranjithgopal K A Effective (27 February 2017)


HSBC Asia Pacific (Ex Japan) DividendYield Fund

^


Scheme Name & Benchmarks 1 Year 3 Years SinceInception

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund - Growth

MSCI AC Asia Pacific ex Japan (Scheme Benchmark)


10,000, if invested in HAPDF, would have become

10,000, if invested in MSCI AC Asia Pacific ex Japan, would have become


Nifty 50

Nifty 50

`

`

`

24.14% 11.81% 9.49%

30.34% 12.63% 11.30%

30.46% 9.09% 17.22%

12,414 13,978 14,293

13,034 14,287 15,248

13,046 12,983 18,701

` ` `

` ` `

` ` `


Funds Managed by Sanjay Shah (for Fixed Income portion) (Total Schemes Managed 10)

Funds Managed by Ranjithgopal K A (For overseas investment) (Total Schemes Managed 7)


The said Fund is managed by Sanjay Shah Effective (24 February 2014)

The said Fund has been in existence for more than 3 years but less than 5 years

Performance of the respective benchmark is calculated as per the Total Return Index (TRI)^Index returns reported as on 31 December 2017 were in USD, however the

returns are now converted to INR and these values have been sourced directly from Bloomberg.

22

HSBC Global Consumer Opportunities Fund -Benefiting from China's Growing Consumption Power

^


Scheme Name & BenchmarksScheme Name & BenchmarksScheme Name & Benchmarks 1 Year1 Year1 Year SinceInception

SinceInception

SinceInception

HSBC Global Consumer Opportunities Fund - Benefiting from China'sGrowing Consumption Power - Growth

MSCI AC World Index (Scheme Benchmark)

Nifty 50 (Standard Benchmark)

10,000, if invested in HGCOF, would have become

10,000, if invested in MSCI AC World Index, would have become

10,000, if invested in Nifty 50, would have become

`

`

`

Past performance may or may not be sustained in the future. Refer note below.Past performance may or may not be sustained in the future. Refer note below.Past performance may or may not be sustained in the future. Refer note below.Past performance may or may not be sustained in the future. Refer note below.

24.91% 8.43%

20.25% 11.07%

30.46% 9.53%

12,491 12,688

12,025 13,621

13,046 13,070

` `

` `

` `

Please Note : NAmeans not available.* BSE vide its notification dated April 10, 2015 have notified change in the index composition of S&P BSE Midcap Index. As a result returns for the said benchmark are different whencompared to the historically published returns. The corresponding benchmark returns for inception of the scheme has not been provided, as the historical index data for S&P BSE MidcapIndex is available only from Sept 16, 2005 whereas the inception date of the scheme is May 19, 2005.


Funds Managed by - Dhiraj Sachdev (Total Schemes Managed 2)

Funds Managed by - Dhiraj Sachdev (Total Schemes Managed 2)

HSBC Midcap Equity Fund Date of Inception : 19 May 05


HSBC Midcap Equity Fund - Growth

S&P BSE Midcap (Scheme Benchmark)


10,000, if invested in HMEF, would have become

10,000, if invested in S&P BSE Midcap, would have become


Nifty 50

Nifty 50

`

`

`

*

39.95% 16.91% 25.73% 15.50%

36.66% 18.73% 21.65% NA

30.46% 9.09% 14.18% 15.85%

13,995 15,978 31,420 59,617

13,666 16,738 26,643 NA

13,046 12,983 19,408 61,880

` ` ` `

` ` `

` ` ` `


Returns are of growth option. The returns for the respective periods are provided as on Last business day of for the respective Schemes. Returns above 1 year areCompounded Annualized. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific time period,invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicatedabove. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

January 2018`


HSBC Infrastructure Equity Fund Date of Inception : 23 Feb 06


HSBC Infrastructure Equity Fund - Growth

S&P BSE India Infrastructure (Scheme Benchmark)


10,000, if invested in HIEF, would have become

10,000, if invested in S&P BSE India Infrastructure, would have become


$

`

`

`

36.08% 9.47% 16.27% 8.17%

26.09% 11.64% NA NA

30.46% 9.09% 14.18% 12.67%

13,608 13,118 21,246 13,357

12,609 13,915 NA NA

13,046 12,983 19,408 15,519

` ` ` `

` `

` ` ` `



Funds Managed by Sanjay Shah (for Fixed Income portion) (Total Schemes Managed 10)

Funds Managed by Ranjithgopal K A (For overseas investment) (Total Schemes Managed 7)


The said Fund is managed by Sanjay Shah Effective (13 February 2015)

The said Fund is managed by Dhiraj Sachdev Effective (01 December 2009)

The said Fund is managed by Dhiraj Sachdev Effective (01 December 2009)

The said Fund has been in existence for more than 1 year but less than 3 years

Please Note : NAmeans not available.$The benchmark of the scheme was changed from S&P BSE 200 to S&P BSE India Infrastructure Index with effect from 11th November, 2016 as a more suitable benchmarkwas identified which better matched the portfolio strategy. There has been no change to investment management of the scheme. Since, S&P BSE India Infrastructure Indexwas launched on May 19, 2014 and the historic index data prior to the said date is not available, wherever scheme’s corresponding benchmark returns are not available, thesame has not been provided.

Performance of the respective benchmark is calculated as per the Total Return Index (TRI) Index returns reported as on 31 December 2017 were in USD, however the returns arenow converted to INR and these values have been sourced directly from Bloomberg.

^

HSBC Managed Solutions - Growth Date of Inception : 30 Apr 14


HSBC Managed Solutions - Growth - Growth

Customised Benchmark Index Fund (Scheme Benchmark)*

(Standard Benchmark)Nifty 50

Crisil 10 Year Gilt Index (Standard Benchmark)

10,000, if invested in HMSG, would have become

10,000, if invested in Customised Benchmark Index, would have become


10,000, if invested in Crisil 10 Year Gilt Index, would have become

`

`

`

`

25.82% 12.09% 17.62%

25.99% 10.53% 16.62%

30.46% 9.09% 15.62%

-2.43% 6.24% 8.38%

12,582 14,083 18,414

12,599 13,503 17,831

13,046 12,983 17,264

9,757 11,993 13,537

` ` `

` ` `

` ` `

` ` `


*Composite index of S&P BSE 200 (80%) and Crisil Composite Bond Fund Index (20%).


23

Returns are of growth option. The returns for the respective periods are provided as on Last business day of January 2018 for the respective Schemes. Returns above 1 year areCompounded Annualized. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific timeperiod, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-visreturns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

`

HSBC Tax Saver Equity Fund Date of Inception : 05 Jan 07


HSBC Tax Saver Equity Fund - Growth



10,000, if invested in HTSF, would have become



Nifty 50

Nifty 50

`

`

`

32.81% 12.44% 18.74% 13.26%

31.70% 11.17% 15.95% 11.50%

30.46% 9.09% 14.18% 10.92%

13,281 14,216 23,600 39,731

13,170 13,739 20,957 33,413

13,046 12,983 19,408 31,534

` ` ` `

` ` ` `

` ` ` `

Funds Managed by - Aditya Khemani (Total Schemes Managed 2)



The said Fund is managed by Gautam Bhupal Effective (21 October 2015)

The said Fund is managed by Sanjay Shah Effective (April 2014)

The said Fund is managed by Aditya Khemani Effective (24 February 2009)


Funds Managed by Gautam Bhupal (for Equity portion)Sanjay Shah (for Fixed Income portion)

(For overseas investment)

(Total Schemes Managed 3)Funds Managed by (Total Schemes Managed 10)Funds Managed by Ranjithgopal K A (Total Schemes Managed 7)



As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values from date 05-Jan-2007 to date 29-Jun-2007 and TRI values since date 29-Jun-2007.

24

*Composite index of Crisil Composite Bond Fund Index (90%) and S&P BSE 200 (10%).


Returns are of growth option. The returns for the respective periods are provided as on Last business day of January 2018 for the respective Schemes. Returns above 1 year areCompounded Annualized. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific timeperiod, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-visreturns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

`


HSBC Managed Solutions - Moderate - Growth Date of Inception : 30 Apr 14


HSBC Managed Solutions - Moderate - Growth

CRISIL Balanced Fund – Aggressive Index AggressiveIndex) (Scheme Benchmark)



10,000, if invested in HMSM, would have become

10,000,if investedinCRISILBalancedFund–AggressiveIndex,wouldhavebecome



`

`

`

`

(CRISIL Hybrid 35+65 -

(CRISILHybrid35+65-AggressiveIndex)

21.23% 11.41% 15.58%

21.04% 10.28% 15.47%

30.46% 9.09% 15.62%

-2.43% 6.24% 8.38%

12,123 13,828 17,242

12,104 13,410 17,181

13,046 12,983 17,264

9,757 11,993 13,537

` ` `

` ` `

` ` `

` ` `








HSBC Managed Solutions - Conservative - Growth Date of Inception : 30 Apr 14


HSBC Managed Solutions - Conservative - Growth




10,000, if invested in HMSC, would have become




`

`

`

`

4.86% 6.58% 9.09%

6.02% 8.29% 10.51%

30.46% 9.09% 15.62%

-2.43% 6.24% 8.38%

10,486 12,108 13,871

10,602 12,700 14,564

13,046 12,983 17,264

9,757 11,993 13,537

` ` `

` ` `

` ` `

` ` `










25

HSBC Equity Fund


HSBC Dynamic Fund

Date of Inception : 10 Dec 02


Date of Inception : 24 Sep 07




1Year

1Year

1Year

3Years

3Years

3Years

5Years

5Years

5Years

SinceInception

SinceInception

SinceInception

Total amount invested ( )

Market Value as on Jan , 2018 ( )

Scheme Returns (%)

Scheme Benchmark ( )

Scheme Benchmark Returns (%)

Standard Benchmark ( )

Standard Benchmark Returns (%)

`

`

`

`

-

-

-

-

31

Nifty 50

Nifty 50

S&P BSE Sensex

S&P BSE Sensex


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 360000 600000 1820000

136023 473427 913746 6804245

25.57 18.59 16.83 15.81

137666 467821 891592 6353726

28.28 17.75 15.83 15.03

139181 468356 885469 6511493

30.80 17.83 15.55 15.31

120000 360000 600000 1680000

136118 477240 996166 5439180

25.72 19.16 20.37 15.44

137421 478065 939854 NA

27.88 19.29 17.98 NA

137666 467821 891592 4777011

28.28 17.75 15.83 13.82

120000 360000 600000 1250000

134903 454199 856162 2155152

23.72 15.67 14.18 10.06

137421 478065 939854 2731989

27.88 19.29 17.98 14.31

137666 467821 891592 2539302

28.28 17.75 15.83 13.00

The Fund offers flexible and convenient Systematic Investment Plan (SIP) facility. To illustrate the advantages of SIP investments, this is how your investments would havegrown if you had invested say 10,000 systematically on the first Business Day of every month over a period of time in the Growth Option of Respective Scheme.

The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments givenan initial and final value and a series of cash inflows and outflows with correct allowance for the time impact of the transactions. Data as on .

`

`

January 31, 2018


Returns shown for Regular Plan - Growth Option





`


As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from 10-Dec-2002 to 31-May-2007 and TRI values effective 31-May-2007.

As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values from 24-Feb-2004 to 29-Jun-2007 and TRI values effective 29-Jun-2007.


26

HSBC Brazil Fund^

Date of Inception : 06 May 11

Scheme Name & Benchmarks 1Year

3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

MSCI Brazil 10/40 Index -

MSCI Brazil 10/40 Index -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 360000 600000 800000

140534 508693 739045 921565

33.11 23.77 8.27 4.18

145016 555155 858911 1116720

40.69 30.22 14.32 9.85

137645 468397 892625 1338301

28.28 17.85 15.88 15.20

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund^



3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

MSCI AC Asia Pacific ex Japan -

MSCI AC Asia Pacific ex Japan -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 360000 NA 470000

138377 471387 NA 624246

29.49 18.30 NA 14.57

141451 485283 NA 644822

34.63 20.37 NA 16.29

137676 468048 NA 636247

28.32 17.80 NA 15.58

HSBC Emerging Markets Fund^

Date of Inception : 17 Mar 08


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

MSCI Emerging Market Index -

MSCI Emerging Market Index -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 360000 600000 1180000

142245 484741 814307 1804261

35.97 20.30 12.17 8.37

144149 495171 846154 2124969

39.20 21.83 13.72 11.52

137676 468088 891569 2378952

28.32 17.81 15.84 13.68


The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments givenan initial and final value and a series of cash inflows and outflows with correct allowance for the time impact of the transactions. .

`

`

Data as on January 31, 2018






`

Performance of the respective benchmark is calculated as per the Total Return Index (TRI) Index returns reported as on 31 December 2017 were in USD, however thereturns are now converted to INR and these values have been sourced directly from Bloomberg.

^


27

HSBC Tax Saver Equity Fund Date of Inception : 05 Jan 07


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 360000 600000 1330000

135331 486562 1003395 3459403

24.43 20.55 20.66 16.27

137421 478065 939854 2999844

27.88 19.29 17.98 13.92

137666 467821 891592 2787647

28.28 17.75 15.83 12.70

HSBC Infrastructure Equity Fund Date of Inception : 23 Feb 06


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE -

S&PBSE -

Nifty 50 -

Nifty 50 -

$

Jan 31, 2018

India Infrastructure Index

India Infrastructure Index

( )`

120000 360000 600000 1430000

136238 487606 1042313 2870439

25.92 20.70 22.24 10.91

134685 495350 NA NA

23.37 21.83 NA NA

137666 467821 891592 3160351

28.28 17.75 15.83 22.84



`

`






`

Please Note : “NAmeans not available.$The benchmark of the scheme was changed from S&P BSE 200 to S&P BSE India Infrastructure Index with effect from 11th November, 2016 as a more suitable benchmarkwas identified which better matched the portfolio strategy. There has been no change to investment management of the scheme. Since, S&P BSE India Infrastructure Indexwas launched on May 19, 2014 and the historic index data prior to the said date is not available, wherever scheme’s corresponding benchmark returns are not available, thesame has not been provided.”


As TRI data is not available since Since Inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values from date 05-Jan-2007 to date 29-Jun-2007 and TRI values since date 29-Jun-2007.


28

HSBC Managed Solutions - Growth Date of Inception : 30 Apr 14


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

Customised Benchmark Index* -

Customised Benchmark Index -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 360000 NA 450000

133918 468795 NA 611490

22.14 17.91 NA 16.52

134218 462367 NA 600296

22.76 16.82 NA 15.39

137659 467627 NA 600175

28.31 17.73 NA 15.48

HSBC Managed Solutions - Moderate - Growth Date of Inception : 30 Apr 14


3Years

5Years

SinceInception


Scheme Returns (%)


SchemeBenchmarkReturns(%)



`

`

`

Market Value as on

CRISIL Balanced Fund – Aggressive Index -

CRISILBalancedFund–AggressiveIndex-

Nifty 50 -

Nifty 50 -

Jan 31, 2018

(CRISIL Hybrid 35+65 -Aggressive Index)

(CRISILHybrid35+65-AggressiveIndex)

( )`

120000 360000 NA 450000

131523 454541 NA 592590

18.24 15.73 NA 14.78

131632 450173 NA 585489

18.41 15.06 NA 14.11

137659 467627 NA 600175

28.31 17.73 NA 15.48

HSBC Midcap Equity Fund Date of Inception : 19 May 05


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

S&P BSE Midcap -

S&P BSE Midcap -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 360000 600000 1530000

140434 516326 1239725 4594598

32.90 24.84 29.48 16.02

138198 515692 1133946 NA

29.17 24.75 25.74 NA

137666 467821 891592 3690487

28.28 17.75 15.83 12.95



`

`





*Composite index of S&P BSE200 (80%) and Crisil Composite Bond Fund Index (20%).



`

Please Note : “NAmeans not available.* BSE vide its notification dated April 10, 2015 have notified change in the index composition of S&P BSE Midcap Index. As a result returns for the said benchmark are different when comparedto the historically published returns. The corresponding benchmark returns for inception of the scheme has not been provided, as the historical index data for S&P BSE Midcap Index is availableonly from Sept 16, 2005 whereas the inception date of the scheme is May 19, 2005.”



29

HSBC Managed Solutions - Conservative - Growth Date of Inception : 30 Apr 14


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

Customised Benchmark Index* -

Customised Benchmark Index -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 360000 NA 450000

122680 398999 NA 516418

4.16 6.79 NA 7.28

123030 411540 NA 531537

4.78 8.74 NA 8.78

137659 467627 NA 600175

28.31 17.73 NA 15.48

HSBC Global Consumer Opportunities Fund -Benefiting from China's Growing Consumption Power

^ Date of Inception : 24 Feb 15


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

Market Value as on

MSCI AC World Index -

MSCI AC World Index -

Nifty 50 -

Nifty 50 -

Jan 31, 2018 ( )`

120000 NA NA 350000

136848 NA NA 439663

26.95 NA NA 15.84

136157 NA NA 442286

25.81 NA NA 16.27

137676 NA NA 455109

28.32 NA NA 18.35



`

`

Data as on , 2018January 31




*Composite index of Crisil Composite Bond Fund Index (90%) and S&P BSE200 (10%).


`

Performance of the respective benchmark is calculated as per the Total Return Index (TRI) Index returns reported as on 31 December 2017 were in USD, however thereturns are now converted to INR and these values have been sourced directly from Bloomberg.

^

HSBC Monthly Income Plan (HMIP)An Open Ended Fund. Monthly income is not assured and is subject to availability of distributable surplus.

Investment Objective: Seeks to generate reasonable returns through investments in Debt and Money Market Instruments. Thesecondary objective of the scheme is to invest in equity and equity related instruments to seek capital appreciation.

30

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on 31 )

Average Maturity ofPortfolio

Modified Duration

of Portfolio

Fund Managers

SIPMinimum ApplicationAmountGrowthQuarterly DividendMonthly DividendSIPExit Load

per unit


.01.18

Yield To Maturity*

@

Weighted Average Monthly Total Expenses ratios(Annualized)Regular 2.42%Direct Plan 1.78%Excludes GST on Investment Management fees of 0.22% ofTotal NetAssets.

Asset Allocation

Government Securities 41.98%

Corporate/ PSU Debt 25.92%

Equity 24.07%

Cash Equivalents 6.15%




* Based on investedAmount

FUND PORTFOLIO

Corporate/ PSU Debt

EQUITY

Government Securities

Cash EquivalentsCBLO 1,672.45 6.15%Net Current Assets 508.67 1.88%Total Net Assets as on 31-Jan-2018 27,181.40 100.00%

Corporate Bonds / Debentures

Equities

Power Grid Corporation of India 1,552.45 5.71% CRISIL AAANational Highways Authority of India 1,295.82 4.77% CRISIL AAAIndia Infradebt 1,009.72 3.71% CRISIL AAABajaj Finance 687.45 2.53% CRISIL AAAPower Finance Corporation 681.40 2.51% CRISIL AAATata Sons 498.17 1.83% CRISIL AAAHDFC 305.38 1.12% CARE AAATata Sons 247.05 0.91% CRISIL AAACan Fin Homes 226.83 0.83% CARE AAAPower Grid Corporation of India 204.23 0.75% CRISIL AAANABARD 150.61 0.55% CRISIL AAANTPC 140.55 0.52% CRISIL AAAShriram Transport Finance Company 49.48 0.18% CRISIL AA+

HDFC Bank 581.65 2.14%ICICI Bank 529.18 1.95%IndusInd Bank 359.39 1.32%Maruti Suzuki India 286.91 1.06%United Spirits 269.42 0.99%JM Financial 234.56 0.86%Infosys 219.36 0.81%MRF 214.56 0.79%Sun Pharmaceutical Ind 210.50 0.77%NCL Industries 206.33 0.76%Finolex Cables 205.81 0.76%Hindustan Unilever 204.03 0.75%Nilkamal 199.00 0.73%Mahindra & Mahindra 183.13 0.67%Somany Ceramics 180.72 0.66%Exide Industries 178.68 0.66%Torrent Pharmaceuticals 177.11 0.65%OCL India 175.57 0.65%InterGlobe Aviation 170.09 0.63%The Federal Bank 168.76 0.62%Cholamandalam Investment & Fin Co 160.76 0.59%Heritage Foods 143.66 0.53%Crompton Greaves Cons Electrical 142.02 0.52%ITC 140.44 0.52%DCB Bank 138.76 0.51%Astral Poly Technik 137.90 0.51%Amara Raja Batteries 133.67 0.49%Bharti Airtel 131.96 0.49%Balrampur Chini Mills 122.15 0.45%Indo Count Industries 105.67 0.39%Blue Star 97.66 0.36%IPCA Laboratories 93.40 0.34%Aditya Birla Fashion and Retail 37.44 0.14%

8.24% GOVT OF INDIA RED 15-02-2027 2,070.88 7.62% SOVEREIGN6.68% GOVT OF INDIA RED 17-09-2031 1,988.81 7.32% SOVEREIGN6.57% GOVT OF INDIA RED 05-12-2033 1,056.56 3.89% SOVEREIGN6.79% GOVT OF INDIA RED 15-05-2027 983.65 3.62% SOVEREIGN8.60% GOVT OF INDIA RED 02-06-2028 850.40 3.13% SOVEREIGN6.84% GOVT OF INDIA RED 19-12-2022 843.32 3.10% SOVEREIGN8.39% RAJASTHAN SPL SDL RED 15-03-2024 714.81 2.63% SOVEREIGN7.73% GOVT OF INDIA RED 19-12-2034 649.70 2.39% SOVEREIGN7.65% TAMIL NADU SDL RED 06-12-2027 540.23 1.99% SOVEREIGN7.17% GOVT OF INDIA RED 08-01-2028 530.23 1.95% SOVEREIGN7.61% GOVT OF INDIA RED 09-05-2030 493.10 1.81% SOVEREIGN8.39% RAJASTHAN SPL SDL RED 15-03-2021 291.75 1.07% SOVEREIGN7.18% TAMIL NADU SDL RED 26-07-2027 264.49 0.97% SOVEREIGN7.65% KARNATAKA SDL 29-11-2027 132.99 0.49% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC MIP - Monthly Dividend

HSBC MIP - Monthly Dividend - Direct Plan

HSBC MIP - Quarterly Dividend

HSBC MIP - Quarterly Dividend - Direct Plan

27-Nov-17 0.07223 0.06692 13.372226-Dec-17 0.07223 0.06692 13.3234

27-Nov-17 0.07223 0.06692 16.568326-Dec-17 0.07223 0.06692 16.5385

27-Jun-17 0.21668 0.20075 13.738625-Sep-17 0.21668 0.20075 13.4921

27-Jun-17 0.21668 0.20075 14.644925-Sep-17 0.21668 0.20075 14.4199

25-Jan-18 0.07223 0.06692 13.2060

25-Jan-18 0.07223 0.06692 16.4257

26-Dec-17 0.21668 0.20075 13.4488

26-Dec-17 0.21668 0.20075 14.4157

Rating24-Feb-04

CRISIL MIP Blended Index(CRISIL Hybrid 85+15 -

Conservative Index)

35.2608

7.34 years

4.95 years

27,124.53

Aditya Khemani(for Equity portion) Sanjay

Shah (for Debt portion)

Available

10,00010,00025,000

1,000 p.m.Nil

`

`

`

`

`

7.72%

Rating Profile

Sovereign 41.98%

AAAand Equivalents 25.74%

Equity 24.07%

Reverse Repos/ CBLOs 6.15%


AA+/AA-/AAand Equivalents 0.18%




Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

HSBC Monthly Income Plan (HMIP)


• Regular Income over mediumterm

• Investment in fixed income(debt and money marketinstruments) as well as equityand equity related securities

* Investors should consult their financial advisers if in doubtabout whether the product is suitable for them.

HSBC Income Fund - Investment Plan (HIF-IP)An Open Ended Income Scheme

Investment Objective: Aims to provide reasonable income through a diversified portfolio of fixed income securities. The AMC'sview of interest rate trends and the nature of the Plans will be reflected in the type and maturities of securities in which the ShortTerm and Investment Plans are invested.

31

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit


31.01.18

@

Weighted Average Monthly Total Expenses ratios(Annualized)Regular 1.84%Direct Plan 1.09%Excludes GST on Investment Management fees of 0.20% ofTotal NetAssets.

Asset Allocation







* Based on invested Amount

FUND PORTFOLIO

Corporate/ PSU Debt


Tata Sons 298.90 5.85% CRISIL AAA

National Highways Authority of India 199.36 3.90% CRISIL AAA

Bajaj Finance 196.41 3.85% CRISIL AAA

Power Finance Corporation 194.69 3.81% CRISIL AAA

6.79% GOVT OF INDIA RED 15-05-2027 658.00 12.88% SOVEREIGN








8.39% RAJASTHAN SPL SDL RED 15-03-2024 204.23 4.00% SOVEREIGN


7.65% TAMIL NADU SDL RED 06-12-2027 102.92 2.02% SOVEREIGN


7.65% KARNATAKA SDL 29-11-2027 38.00 0.74% SOVEREIGN


Cash Equivalents

CBLO 820.62 16.07%

Net Current Assets: 2.69 0.07%

Total Net Assets as on 31-Jan-2018 5,106.76 100.00%

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating10-Dec-02

CRISIL Composite BondFund Index

27.4057

7.92 years

5.25 years

7.55%

5,199.03

Sanjay Shah

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

Sovereign 66.45%









`

HSBC Income Fund - Investment Plan - Regular Option - Quarterly Dividend

HSBC Income Fund - Investment Plan - Institutional Option - Quarterly Dividend

27-Jun-17 0.14445 0.13383 11.2759

25-Sep-17 0.14445 0.13383 11.1079

26-Dec-17 0.14445 0.13383 10.7434

12-Jun-09 0.11387 0.10598 11.0294

11-Sep-09 0.11387 0.10598 10.9960

11-Dec-09 0.11387 0.10598 11.0973



Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over longterm

• Investment in diversifiedportfolio of fixed incomesecurities

HSBC Income Fund - Investment Plan (HIF-IP)


HSBC Income Fund - Short Term Plan (HIF-STP)An Open Ended Income Scheme

Investment Objective:Aims to provide reasonable income through a diversified portfolio of fixed income securities. TheAMC’sview of interest rate trends and the nature of the Plans will be reflected in the type and maturities of securities in which the ShortTerm and Investment Plans are invested.

32

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on )


Modified Duration

of Portfolio

Yield To Maturity*

Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit


31.01.18

@


Regular 1.25%

Direct Plan 0.30%Excludes on Investment Management fees of 0.05% ofTotal NetAssets.

GST

Asset Allocation





Money Market Instruments 1.38%




FUND PORTFOLIO

Money Market Instruments

Corporate/ PSU Debt


Cash EquivalentsCBLO 8,631.95 5.11%Net Current Assets 3,726.10 2.18%Total Net Assets as on 31-Jan-2018 1,69,069.59 100.00%

Certificate of DepositIndusInd Bank 2,325.90 1.38% CRISIL A1+


Zero Coupon Bonds

NABARD 9,841.29 5.82% CRISIL AAARural Electrification Corporation 9,077.73 5.37% CARE AAANabha Power 7,558.05 4.47% [ICRA]AAANabha Power 7,498.76 4.44% [ICRA]AAA(SO)Dewan Housing Finance Corporation 5,034.88 2.98% CARE AAAVolkswagen Finance Pvt 5,014.43 2.97% Fitch AAAEnergy Efficiency Services 5,001.24 2.96% [ICRA]AADalmia Cements (Bharat) 4,999.04 2.96% [ICRA]AATata Capital Financial Services 4,974.90 2.94% [ICRA]AA+Aditya Birla Finance 4,945.15 2.92% [ICRA]AA+Rural Electrification Corporation 4,905.69 2.90% CARE AAADewan Housing Finance Corporation 4,026.54 2.38% CARE AAACLP Wind Farm India Pvt 4,023.54 2.38% Fitch AACholamandalam Investment & Fin Co 3,985.81 2.36% [ICRA]AASmall Industries Development Bk of India 3,944.62 2.33% CARE AAAState Bank of India 2,517.21 1.49% CRISIL AA+Shriram Transport Finance Company 2,501.36 1.48% CRISIL AA+Orix Leasing & Financial Services 2,486.73 1.47% Fitch AAAPower Finance Corporation 2,483.63 1.47% CRISIL AAATata Capital Financial Services 2,483.03 1.47% [ICRA]AA+Indian Railway Finance Corporation 2,478.46 1.47% CRISIL AAAPower Finance Corporation 2,475.59 1.46% CRISIL AAAPower Finance Corporation 2,466.21 1.46% CRISIL AAAPower Finance Corporation 2,433.57 1.44% CRISIL AAANational Highways Authority of India 1,993.57 1.18% CRISIL AAAIndia Infradebt 1,514.57 0.90% CRISIL AAAPower Grid Corporation of India 1,034.97 0.61% CRISIL AAAPower Finance Corporation 1,009.67 0.60% CRISIL AAAEast North Interconnection Company 1,001.00 0.59% CRISIL AAA (SO)Tata Capital Financial Services 499.19 0.30% CRISIL AA+Tata Capital Housing Finance 350.66 0.21% CRISIL AA+Cholamandalam Investment & Fin Co 350.64 0.21% [ICRA]AALIC Housing Finance 350.29 0.21% CARE AAAPower Finance Corporation 321.96 0.19% CRISIL AAAPower Grid Corporation of India 311.16 0.18% CRISIL AAAReliance Industries 264.44 0.16% CRISIL AAASmall Industries Development Bk of India 241.10 0.14% CARE AAAPower Finance Corporation 238.75 0.14% CARE AAAHousing & Urban Development Corp 226.75 0.13% CARE AAAIndian Railway Finance Corporation 98.31 0.06% CRISIL AAARural Electrification Corporation 20.00 0.01% CARE AAANABARD 10.02 0.01% CRISIL AAA

Sundaram BNP Paribas Home Finance 6,867.20 4.06% [ICRA]AA+Sundaram BNP Paribas Home Finance 6,867.20 4.06% [ICRA]AA+JM Financial Products 5,396.83 3.19% CRISIL AAJM Financial Products 5,282.30 3.12% CRISIL AASundaram BNP Paribas Home Finance 2,587.11 1.53% [ICRA]AA+

7.61% GOVT OF INDIA RED 09-05-2030 2,564.12 1.52% SOVEREIGN7.65% KARNATAKA SDL 29-11-2027 2,423.11 1.43% SOVEREIGN7.18% TAMIL NADU SDL RED 26-07-2027 1,889.18 1.12% SOVEREIGN7.65% TAMIL NADU SDL RED 06-12-2027 1,220.63 0.72% SOVEREIGN6.79% GOVT OF INDIA RED 15-05-2027 860.75 0.51% SOVEREIGN6.68% GOVT OF INDIA RED 17-09-2031 604.43 0.36% SOVEREIGN7.17% GOVT OF INDIA RED 08-01-2028 580.21 0.34% SOVEREIGN8.03% UTTAR PRADESH SDL RED 02-06-2020 248.11 0.15% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating10-Dec-02

CRISIL Short Term BondFund Index

28.0652

2.38 years

1.91 years

8.00%

1,72,973.55

Sanjay Shah &

Kapil Punjabi

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile



Sovereign 6.15%








`

HSBC Income Fund - Short Term Plan - Regular Option - Monthly Dividend

HSBC Income Fund - Short Term Plan - Monthly Dividend - Direct Plan

HSBC Income Fund - Short Term Plan - Institutional Option - Monthly Dividend

HSBC Income Fund - Short Term Plan - Institutional Plus Option - Monthly Dividend

25-Oct-17 0.04094 0.03793 11.222027-Nov-17 0.03763 0.03486 11.1880

26-Dec-16 0.07035 0.06518 11.333525-Jan-17 0.05706 0.05286 11.3524

25-Sep-17 0.14445 0.13383 10.3838

25-Sep-17 0.14445 0.13383 10.413826-Dec-17 0.14445 0.13383 10.2960

25-Jan-18 0.02400 0.02224 11.1619

27-Feb-17 0.04637 0.04296 11.2799

27-Jul-15 0.05814 0.05387 12.0045

30-Dec-11 0.08478 0.07266 10.120027-Jan-12 0.05533 0.04742 10.086624-Feb-12 0.05663 0.04854 10.0881

25-May-15 0.05330 0.04938 12.007825-Jun-15 0.06385 0.05915 11.9934

HSBC Income Fund - Short Term Plan - Quarterly Dividend

HSBC Income Fund - Short Term Plan - Quarterly Dividend- Direct Plan


Investors understand that their principalwill be at Moderately Low risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over Mediumterm

• Investment in diversifiedportfolio of fixed incomesecurities

HSBC Income Fund - Short Term Plan (HIF-STP)


HSBC Cash Fund (HCF)An Open Ended Liquid Scheme

Investment Objective: Aims to provide reasonable returns, commensurate with low risk while providing a high level of liquidity,through a portfolio of money market and debt securities.

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on )


Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Sub Options

Exit Load

per unit


31.01.18

@

Asset Allocation


Treasury Bill 8.22%






FUND PORTFOLIO


Certificate of Deposit

Commercial Paper

The South Indian Bank 10,460.30 2.58% CARE A1+

The South Indian Bank 9,955.90 2.46% CARE A1+

Yes Bank 9,953.96 2.46% CARE A1+

HDFC Bank 9,938.02 2.46% Fitch A1+

Ujjivan Small Finance Bank 9,921.93 2.45% CRISIL A1+

IDFC Bank 9,918.45 2.45% CRISIL A1+

Ujjivan Small Finance Bank 9,903.35 2.45% CRISIL A1+

Axis Bank 7,467.20 1.84% CRISIL A1+

IDFC Bank 4,982.50 1.23% [ICRA]A1+

AU Small Finance Bank 4,968.34 1.23% Fitch A1+

ICICI Bank 4,954.19 1.22% [ICRA]A1+

RBL Bank 2,489.06 0.61% [ICRA]A1+

IDFC Bank 2,488.53 0.61% [ICRA]A1+

The Federal Bank 1,992.69 0.49% CRISIL A1+

Kotak Mahindra Bank 498.13 0.12% CRISIL A1+

SREI Equipment Finance 22,868.53 5.65% [ICRA]A1+

India Infoline Wealth Finance 17,496.63 4.32% [ICRA]A1+

Indiabulls Housing Finance 17,414.49 4.30% CRISIL A1+

Capital First 14,968.72 3.70% CARE A1+

Edelweiss Commodities Services 14,968.63 3.70% CRISIL A1+


IL & FS Financial Services 9,984.40 2.47% CARE A1+

Future Retail 9,975.00 2.46% CARE A1+

KEC International 9,942.76 2.46% Fitch A1+

Welspun India 9,927.05 2.45% CARE A1+


DHFL Vysya Housing Finance 7,441.00 1.84% CRISIL A1+

Motilal Oswal Financial Services 4,995.24 1.23% CRISIL A1+

India Infoline Wealth Finance 4,989.47 1.23% [ICRA]A1+

RSPL 4,988.47 1.23% CRISIL A1+

Afcons Infrastructure 4,987.61 1.23% [ICRA]A1+

IL & FS Financial Services 4,981.29 1.23% CARE A1+

JM Financial Capital 4,980.16 1.23% [ICRA]A1+

Dalmia Cements (Bharat) 4,977.42 1.23% [ICRA]A1+

Triveni Engineering & Industries 4,975.30 1.23% [ICRA]A1+

L&T Infrastructure Finance Co. 4,974.85 1.23% CARE A1+

Triveni Engineering & Industries 4,974.31 1.23% [ICRA]A1+

Welspun India 4,967.05 1.23% CARE A1+

Dalmia Bharat Sugars and Ind 4,965.87 1.23% [ICRA]A1+

Mahindra Rural Housing Finance 4,961.47 1.23% Fitch A1+

Capital First Home Finance 4,961.34 1.23% CARE A1+

Capital First Home Finance 4,960.80 1.23% CARE A1+

Dalmia Bharat Sugars and Ind 4,960.46 1.23% [ICRA]A1+

Tata Capital Financial Services 4,495.37 1.11% [ICRA]A1+

India Infoline Finance 3,978.90 0.98% [ICRA]A1+

JM Financial Products 2,498.10 0.62% [ICRA]A1+

Motilal Oswal Securities 2,497.62 0.62% CRISIL A1+

Bajaj Electricals 2,491.38 0.62% [ICRA]A1+




Aditya Birla Finance 2,484.93 0.61% [ICRA]A1+

Kotak Mahindra Prime 2,480.37 0.61% CRISIL A1+

Future Retail 498.25 0.12% CARE A1+

317 DAYS TBILL RED 15-03-2018 25,815.86 6.38% SOVEREIGN

182 DAYS TBILL RED 08-03-2018 7,456.49 1.84% SOVEREIGN

Treasury Bill

Cash Equivalents

CBLO 6,484.22 1.60%


Total Net Assets as on 31-Jan-2018 4,04,761.73 100.00%

Issuer Market Value( in Lacs)`

% to NetAssets

Rating04-Dec-02

CRISIL Liquid Fund Index

1706.6359

0.07 years

0.07 years6.74%

5,02,044.30

Kapil Punjabi

Available

10,000

1,000 p.m.(SIP)

Growth, Daily Dividend,Reinvestment

Weekly Dividend,Reinvestment,

Monthly Dividend (Payout &Reinvestment)

Nil

`

`

`

Rating Profile


Sovereign 8.22%








`

HSBC Cash Fund - Institutional Option - Monthly Dividend

HSBC Cash Fund - Monthly Dividend - Direct Plan

HSBC Cash Fund - Institutional Plus Option - Monthly Dividend

27-Nov-17 4.14042 3.83602 1005.9829

26-Dec-17 3.61348 3.34782 1005.2533

25-Oct-17 3.90408 3.61706 1014.0370

27-Nov-17 4.21537 3.90546 1014.4680

25-Jan-18 3.89848 3.61187 1005.6479

26-Dec-17 3.67905 3.40857 1013.7255

26-Aug-11 0.04886 0.04686 10.1383

29-Sep-11 0.05876 0.05636 10.1509

28-Oct-11 0.05244 0.05030 10.1428

Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: 1,000 per unit.`


Regular 0.14%

Direct Plan 0.08%

Excludes on Investment Management fees of 0.01% of TotalNetAssets.

GST

33

Investors understand that their principalwill be at low risk

Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• Overnight Liquidity over short

term• Invests in Money Market

Instruments

HSBC Cash Fund (HCF)


HSBC Ultra Short Term Bond Fund (HUSBF)An Open Ended Debt Scheme

Investment Objective: Seeks to provide liquidity and reasonable returns by investing primarily in a mix of short term debt andmoney market instruments.

34

FUND DETAILS

Date of AllotmentBenchmark

NAV (Growth)(as on )Average Maturity ofPortfolioModified Durationof PortfolioYield To Maturity*

Fund Managers

SIPMinimum ApplicationAmountSub Options

Exit Load

per unit


31.01.18

@

Asset Allocation







** Composite index of CRISIL Liquid Fund Index(90%) andCRISIL Short Term Bond Fund Index(10%).


FUND PORTFOLIO


Certificate of Deposit

Commercial Paper


Zero Coupon Bonds


NABARD 2,491.85 4.29% CRISIL A1+


IndusInd Bank 2,325.90 4.01% CRISIL A1+




Dewan Housing Finance Corporation 3,523.23 6.07% CARE AAA

Indiabulls Housing Finance 2,508.03 4.32% CARE AAA

Cholamandalam Investment & Fin Co 2,505.59 4.32% [ICRA]AA

CLP Wind Farm India Pvt 2,504.94 4.32% Fitch AA

Indiabulls Housing Finance 2,500.99 4.31% CARE AAA

Energy Efficiency Services 2,500.62 4.31% [ICRA]AA

Power Finance Corporation 2,487.00 4.29% CARE AAA

Tata Capital Financial Services 2,483.03 4.28% [ICRA]AA+

Aditya Birla Finance 2,472.58 4.26% [ICRA]AA+

Tata Capital Financial Services 1,996.74 3.44% CRISIL AA+

Power Finance Corporation 1,514.50 2.61% CRISIL AAA

Cholamandalam Investment & Fin Co 996.45 1.72% [ICRA]AA

Small Industries Development Bk of India 986.16 1.70% CARE AAA

Rural Electrification Corporation 983.50 1.70% CARE AAA

East North Interconnection Company 750.08 1.29% CRISIL AAA (SO)

JM Financial Products 2,690.19 4.64% CRISIL AA

Corporate/ PSU Debt

Cash Equivalents

CBLO 6,277.31 10.82%

Net Current Assets -1,371.92 -2.37%


IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating17-Oct-06

CustomisedBenchmark Index**

15.0760

0.80 years

0.70 years7.42%

54,489.42

Kapil Punjabi

Available10,000

1,000 p.m.(SIP)Growth, Daily Dividend,

ReinvestmentWeekly Dividend,

ReinvestmentMonthly Dividend (Payout &

Reinvestment)

Nil

`

`

`

Rating Profile











`

HSBC Ultra Short Term Bond Fund - Institutional Option - Monthly Dividend

HSBC Ultra Short Term Bond Fund - Monthly Dividend - Direct Plan

HSBC Ultra Short Term Bond Fund - Institutional Plus Option - Monthly Dividend

27-Nov-17 0.03066 0.02840 10.1692

26-Dec-17 0.01880 0.01742 10.1528

27-Nov-17 0.03672 0.03402 10.3805

26-Dec-17 0.02393 0.02217 10.3628

25-Jan-18 0.03638 0.03370 10.3801

25-Jan-18 0.03091 0.02863 10.1696

28-Jan-11 0.04829 0.04501 10.3821

25-Feb-11 0.04125 0.03845 10.3741

25-Mar-11 0.05214 0.04859 10.3865



Regular 1.00%

Direct Plan 0.20%


Investors understand that their principalwill be at Moderately Low risk

Riskometer

Modera

tely Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• Liquidity over short term• Investment in Debt / Money

Market Instruments

HSBC Ultra Short Term Bond Fund (HUSBF)


HSBC Flexi Debt Fund (HFDF)An Open Ended Debt Scheme

Investment Objective: Seeks to deliver returns in the form of interest income and capital gains, along with high liquidity,commensurate with the current view on the markets and the interest rate cycle, through active investment in debt and moneymarket instruments.

35

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit


31.01.18

@

Asset Allocation








FUND PORTFOLIO

Corporate/ PSU Debt


Tata Sons 1,693.79 5.80% CRISIL AAA

Bajaj Finance 1,571.31 5.38% CRISIL AAA

Power Finance Corporation 1,557.48 5.34% CRISIL AAA

National Highways Authority of India 1,495.18 5.12% CRISIL AAA

6.68% GOVT OF INDIA RED 17-09-2031 2,419.24 8.29% SOVEREIGN

8.53% BIHAR SDL RED 30-03-2022 2,053.42 7.04% SOVEREIGN



8.39% RAJASTHAN SPL SDL RED 15-03-2024 1,633.85 5.60% SOVEREIGN






7.65% KARNATAKA SDL 29-11-2027 815.34 2.79% SOVEREIGN





Cash Equivalents

CBLO 2,792.82 9.57%



IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating05-Oct-07

CRISIL Composite BondFund Index

22.5117

7.87 years

5.24 years

7.72%

29,714.01

Sanjay Shah

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

Sovereign 67.41%










`

HSBC Flexi Debt Fund - Regular Option - Monthly Dividend

HSBC Flexi Debt Fund - Institutional Option - Monthly Dividend

HSBC Flexi Debt Fund - Monthly Dividend - Direct Plan

HSBC Flexi Debt Fund - Regular Option - Quarterly Dividend

HSBC Flexi Debt Fund - Institutional Option - Quarterly Dividend

HSBC Flexi Debt Fund - Quarterly Dividend - Direct Plan

HSBC Flexi Debt Fund - Regular Option - Half Yearly Dividend

HSBC Flexi Debt Fund - Institutional Option - Half-yearly Dividend

HSBC Flexi Debt Fund - Half-yearly Dividend - Direct Plan

26-Apr-13 0.05836 0.04973 10.4949

31-May-13 0.11214 0.10740 10.6718

28-Jun-13 0.03263 0.03125 10.4175

25-Nov-16 0.32168 0.29803 11.0304

27-Jun-17 0.01324 0.01227 10.6036

25-Jun-15 0.18057 0.16729 11.8869

28-Sep-15 0.18057 0.16729 11.9644

27-Mar-17 0.18057 0.16729 11.8718

27-Jun-17 0.14445 0.13383 11.9288

27-Jun-17 0.18057 0.16729 12.4254

25-Sep-17 0.18057 0.16729 12.2547

15-Mar-13 0.35236 0.30201 11.6629

26-Sep-16 0.36113 0.33458 12.5188

27-Mar-17 0.36113 0.33458 12.2875

25-Sep-17 0.36113 0.33458 12.1555

26-Sep-16 0.36113 0.33458 11.9179

27-Mar-17 0.36113 0.33458 11.7165

25-Jul-17 0.04532 0.04199 10.6481

25-Aug-15 0.06760 0.06263 10.8080

28-Sep-15 0.09852 0.09127 10.8504

26-Oct-15 0.11441 0.10600 10.8719

25-Mar-15 0.18147 0.16829 12.2052

25-Sep-17 0.36113 0.33458 11.6099

25-Sep-17 0.18057 0.16729 11.7832

26-Dec-17 0.18057 0.16729 11.8705

14-Sep-12 0.35236 0.30201 11.4315



Regular 1.60%Direct Plan 0.85%

Excludes on Investment Management fees of 0.15% of TotalNetAssets.

GST


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over longterm

• Investment in Debt / MoneyMarket Instruments

HSBC Flexi Debt Fund (HFDF)


36

HSBC Monthly Income Plan

HSBC Income Fund - Investment Plan

HSBC Income Fund - Short Term Plan

HSBC Cash Fund

HSBC Ultra Short Term Bond Fund

HSBC Flexi Debt Fund

For Debt portion: Sanjay Shah (from 14 August 2009) & ForEquity portion: Aditya Khemani (from 24 February 2009)

Sanjay Shah (from 09 January 2009)

Sanjay Shah (from 09 January 2009) & Kapil Punjabi (from 23 December 2016)

Kapil Punjabi (from 14 March 2014)

Kapil Punjabi (from 18 October 2014)

Sanjay Shah (from 09 January 2009)

Name of Scheme Fund Manager

Fund Manager’s Experience

Sanjay ShahSenior Vice President Head - Fixed IncomeB. Com, A.C.A., Post Graduate Diploma in Management

Experience:

Over 18 years of experience in research and fund management

HSBC Asset Management (India) Private Ltd

Senior Vice President & Head – Fixed Income from November 2012 to present,

Vice President & Fund Manager, Fixed Income since December 2008 till November 2012.

FIL Fund Management Private Ltd

Credit Analyst from September 2008 to December 2008

Lehman Brothers Structured Financial Services Private LtdVice President, Convertible Products from September 2006 to September 2008

Rabo India Finance Private LtdSenior Manager – Credit Risk from July 2004 to September 2006

ICICI Bank LtdManager, Credit Risk from January 2003 to June 2004

SBI Funds Management Private LtdChief Manager, Debt Funds from June 1999 to January 2003

�

�

�

�

�

�

Kapil Punjabi

Vice President & Fund Manager - Fixed Income

B.M.S, M.M.S (Mumbai University)

Experience:

Over 11 years of experience in research and Fund Management

HSBC Asset Management (India) Private Ltd.Vice President & Fund Manager - Fixed Income from March 04, 2014 onwards.

Taurus Asset Management Company LimitedFund Manager Fixed Income from June 07, 2012 to February 27, 2014.

Edelweiss Asset Management LimitedFund Manager Fixed Income from December 05, 2009 to June 06, 2012.

Edelweiss Securities LimitedManager - Investments from October 2007 to November 2009

Trans Market Group Research (India) Private LimitedResearch Analyst and Proprietary Trader from May 2006 to October 2007.

�

�

�

�

�

Funds Managed by Sanjay Shah (for Debt portion) (Total Schemes Managed 10)Aditya Khemani (for Equity portion) (Total Schemes Managed 2)Funds Managed by

HSBC Monthly Income Plan Date of Inception : 24 Feb 04


HSBC Monthly Income Plan - Growth

Crisil MIP Blended Index (CRISIL Hybrid 85+15 - Conservative Index)(Scheme Benchmark)

Crisil 1 Year T-Bill Index (Standard Benchmark)


10,000, if invested in HMIP, would have become

10,000, if invested in Crisil MIP Blended Index, would have become

10,000, if invested in Crisil 1 Year T-Bill Index, would have become


`

`

`

`

(CRISIL Hybrid 85+15 -Conservative Index)

6.32% 6.32% 9.14% 9.46%

7.08% 8.58% 9.72% 8.30%

5.65% 6.97% 7.05% 5.97%

-2.43% 6.24% 6.36% 5.34%

10,632 12,018 15,482 35,270

10,708 12,800 15,900 30,417

10,565 12,241 14,055 22,440

9,757 11,993 13,614 20,649

` ` ` `

` ` ` `

` ` ` `

` ` ` `


Returns are of growth option. The returns for the respective periods are provided as on Last business day of January 2018 for the respective Schemes. Returns above 1 year areCompounded Annualized. Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific timeperiod, invested at the start of the period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-visreturns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other than Direct plan.

Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

`

Fund Manager Wise Comparative Performance of Debt Schemes

37


Funds Managed by - Sanjay Shah (Total Schemes Managed 10)

Funds Managed by - Sanjay Shah (Total Schemes Managed 10)

The said Fund is managed by Effective (14 August 2009)Sanjay Shah

The said Fund is managed by Effective (09 January 2009)Sanjay Shah


The said Fund is managed by Effective (24 February 2009)Aditya Khemani


HSBC Income Fund - Investment Plan Date of Inception : 10 Dec 02


HSBC Income Fund - Investment Plan - Growth

Crisil Composite Bond Fund Index (Scheme Benchmark)


10,000, if invested in HIF - IP, would have become

10,000, if invested in Crisil Composite Bond Fund Index, would have become


`

`

`

-0.39% 4.99% 6.41% 6.88%

3.17% 7.97% 8.50% 6.72%

-2.43% 6.24% 6.36% 5.87%

9,961 11,573 13,644 27,411

10,317 12,588 15,034 26,787

9,757 11,993 13,614 23,726

` ` ` `

` ` ` `

` ` ` `


HSBC Flexi Debt Fund Date of Inception: 05 Oct 07


HSBC Flexi Debt Fund - Growth

Crisil Composite Bond Fund Index (Scheme Benchmark)


10,000, if invested in HFDF, would have become

10,000, if invested in Crisil Composite Bond Fund Index, would have become


`

`

`

0.29% 5.42% 7.04% 8.18%

3.17% 7.97% 8.50% 7.71%

-2.43% 6.24% 6.36% 6.55%

10,029 11,716 14,051 22,531

10,317 12,588 15,034 21,542

9,757 11,993 13,614 19,257

` ` ` `

` ` ` `

` ` ` `




Fund Manager Wise Comparative Performance of Debt Schemes

38


Funds Managed by Sanjay Shah (Total Schemes Managed 10)

Funds Managed by Kapil Punjabi (Total Schemes Managed 3)

HSBC Income Fund - STP Date of Inception : 10 Dec 02


HSBC Income Fund - S T P - Growth

Crisil Short Term Bond Fund Index (Scheme Benchmark)


10,000, if invested in HIF -ST, would have become

10,000, if invested in Crisil Short Term Bond Fund Index, would have become


`

`

`

4.68% 7.05% 7.70% 7.05%

5.38% 7.89% 8.53% 7.10%

5.65% 6.97% 7.05% 5.92%

10,468 12,267 14,493 28,070

10,538 12,558 15,058 28,275

10,565 12,241 14,055 23,903

` ` ` `

` ` ` `

` ` ` `


@ Pursuant to SEBI circular dated Sept 13, 2012, certain Plans / Options within the schemes have been discontinued to comply with a single plan structure. Since there was nocontinuous NAV history available for the surviving Plan prior to 19 May 2011, returns since the said date have been considered for calculating performance. The inception date ofHSBC Cash Fund however is 4 December 2002.

The returns for the respective periods are provided as on . Returns above 1 year are Compounded Annualized.Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for the specific time period, invested at the start ofthe period. The returns provided above have been rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above. Differentplans shall have a different expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

Last business day of January 2018 for the respective Schemes`

* Composite index of CRISILLiquid Fund Index (90%) and CRISILShort Term Bond Fund Index (10%).

$ Pursuant to SEBI circular dated Sept. 13, 2012, certain Plans / Options within the schemes have been discontinued to comply with a single plan structure.Since there was nocontinuous NAV history available for the surviving Plan prior to 1 October 2012, returns since the said date have been considered for calculating performance. The inception date ofHSBC Ultra Short Term Bond Fund however is 17 October 2006.

HSBC Cash Fund@ Date of Inception: 04 Dec 02

Scheme Name & Benchmarks 1 Year 3 Years 5 Years SinceInception

HSBC Cash Fund - Growth

Crisil Liquid Fund Index (SchemeBenchmark)

Crisil 91 Day T-Bill Index (StandardBenchmark)

`

`

`

10,000, if invested in HCF, would havebecome

10,000, if invested in Crisil Liquid FundIndex, would have become

10,000, if invested in Crisil 91 Day T-BillIndex, would have become

HSBC Ultra Short Term Bond Fund$ Date of Inception :17 Oct 06


HSBC Ultra Short Term Bond Fund - Growth



10,000, if invested in HUSTBF, would have become



`

`

`


Last 7 Daysas on 31Jan 2018



6.56% 6.56% 6.50% 6.66% 7.45% 8.14% 8.29%

7.36% 6.75% 6.32% 6.68% 7.40% 8.10% 8.17%

6.40% 6.35% 6.22% 6.32% 7.06% 7.70% 7.79%

10,013 10,027 10,053 10,666 12,407 14,790 17,070

10,014 10,028 10,052 10,668 12,390 14,758 16,939

10,012 10,026 10,051 10,632 12,271 14,491 16,545

` ` ` ` ` ` `

` ` ` ` ` ` `

` ` ` ` ` ` `


Funds Managed by - Kapil Punjabi (Total Schemes Managed 3)

Funds Managed by - Kapil Punjabi (Total Schemes Managed 3)



The said Fund is managed by Effective (23 December 2016)Kapil Punjabi

The said Fund is managed by Effective (18 October 2014)Kapil Punjabi

The said Fund is managed by Effective (14 March 2014)Kapil Punjabi

6.02% 7.24% 7.98% 8.00%

6.55% 7.45% 8.14% 8.12%

5.65% 6.97% 7.05% 7.13%

10,602 12,334 14,680 15,079

10,655 12,406 14,788 15,174

10,565 12,241 14,055 14,448

` ` ` `

` ` ` `

` ` ` `


Fund Manager

ApplicationAmount for Fresh Subscription

MinimumAdditionalAmount

Yield to Maturity

SIP

NAV

Benchmark

Entry Load

Exit Load

Modified Duration

Standard Deviation

Sharpe Ratio

Beta

AUM

Holdings

Nature of Scheme

Rating Profile

An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He isusually part of a larger team of fund managers and research analysts.

This is the minimum investment amount for a new investor in a mutual fund scheme,

This is the minimum investment amount for an existing investor in a mutual fund scheme.

The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTMfactors in the bond's current market price, par value, coupon interest rate and time to maturity.

SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bankdeposit. For instance, an investor may opt for an SIP that invests 500 every 15 of the month in an equity fund for a period of three years.

The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. TheNAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund.

Agroup of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance ofmutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec.

Amutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at thetime an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, ifthe NAV is 100 and the entry load is 1%, the investor will enter the fund at 101.

Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time ofredemption. For instance, if the NAV is Rs 100 and the exit load is 1%, the redemption price would be 99 per unit.

Modified duration is the price sensitivity and the percentage change in price for a unit change in yield.

Standard deviation is a statistical measure of the range of an investment's performance. When a mutual fund has a high standard deviation,its means its range of performance is wide, implying greater volatility.

The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated usingstandard deviation and excess return to determine reward per unit of risk.

Beta is a measure of an investment's volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than themarket.Abeta of greater than 1 implies that the security's price will be more volatile than the market.

AUM or assets under management refers to the recent I updated cumulative market value of investments managed by a mutual fund or anyinvestment firm.

The holdings or the portfolio is a mutual fund's latest or updated reported statement of investments/securities. These are usually displayed interms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being investedby the fund manager.

The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aimsat generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capitalpreservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories.

Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in variousinvestments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds.

`

`

th

`

`

Note: SEBI, vide circular dated June 30, 2009 has abolished entry loan and mandated that the upfront commission to distributors will be paid by the investor directly to thedistributor, based on his assessment of various factors including the services rendered by the distributor.

Section II - How to read Factsheet

39

All returns have been sourced from MutualFundsIndia Explorer software unless otherwise stated. With regard to equity

schemes (including the equity component of MIPs), Fund performance is calculated on a total return basis (i.e. it includes

dividends re-invested) while the benchmark is calculated on a price return basis (i.e. it does not consider dividends re-

invested).

This document has been prepared by HSBCAsset Management (India) Private Ltd (HSBC) for information purposes only and

should not be construed as an offer or solicitation of an offer for purchase of any of the funds of HSBC Mutual Fund. All

information contained in this document (including that sourced from third parties), is obtained from sources HSBC, the third

party believes to be reliable but which it has not independently verified and HSBC, the third party makes no guarantee,

representation or warranty and accepts no responsibility or liability as to the accuracy or completeness of such information.

The information and opinions contained within the document are based upon publicly available information and rates of

taxation applicable at the time of publication, which are subject to change from time to time. Expressions of opinion are those of

HSBC only and are subject to change without notice. It does not have regard to specific investment objectives, financial

situation and the particular needs of any specific person who may receive this document. Investors should seek financial

advice regarding the appropriateness of investing in any securities or investment strategies that may have been discussed or

recommended in this report and should understand that the views regarding future prospects may or may not be realized.

Neither this document nor the units of HSBC Mutual Fund have been registered in any jurisdiction. The distribution of this

document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of

this document are required to inform themselves about, and to observe, any such restrictions. Mutual fund investments are

subject to market risks. Please read the Scheme Information Document carefully before investing.

Investors should not invest in the Scheme solely based on the information provided in this document and should read the

Combined Scheme Information Document and, Statement of Additional Information of the Fund for details. This document

does not constitute an offering document.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means,

electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC Asset

Management (India) Private Ltd.

1800-200-2434 OR +91 44 39923900 to connect to our customer care centre.

022-49146254

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

HSBCAsset Management (India) Private Limited,

16, V.N. Road, Fort, Mumbai-400001

Tel. :

Fax : Email : Website :

HSBC Mutual Fund Investor Service Centres :

Ahmedabad :

Bengaluru :

Chennai :

Hyderabad :

Kolkata :

Mumbai :

New Delhi :

Pune :

Mardia Plaza, CG. Road,Ahmedabad - 380 006.

No. 7, HSBC Centre, M.G. Road, Bengaluru - 560 001.

No. 13, Rajaji Salai, 2nd Floor, Chennai -600 001.

6-3-1107 & 1108, Rajbhavan Road, Somajiguda, Hyderabad - 50082.

31 BBD Bagh, Dalhousie Square, Kolkata - 700001.

16, V.N. Road, Fort, Mumbai - 400 001.

Ground Floor, East Tower, Birla Tower, 25, Barakhamba Road, New Delhi - 110 001.

AmarAvinash Corporate City, Sector No. 11, Bund Garden Road, Pune - 411011.

Chandigarh: SCO 1, Sector 9 D, Chandigarh-160017.

[email protected] www.assetmanagement.hsbc.com/in

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