The Asset Factsheet September 2015
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- Debra Sherman
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1 The Asset Factsheet September 2015
2 Index Fund Manager Commentary HSBC Equity Fund HSBC India Opportunities Fund HSBC Midcap Equity Fund HSBC Progressive Themes Fund HSBC Tax Saver Equity Fund HSBC Dynamic Fund HSBC Dividend Yield Equity Fund HSBC Emerging Markets Fund HSBC Asia Pacific (Ex Japan) Dividend Yield Fund HSBC Brazil Fund HSBC Managed Solutions India - Growth HSBC Managed Solutions India - Moderate HSBC Managed Solutions India - Conservative HSBC Global Consumer Opportunities Fund Fund Managers - Equity Comparative Performance of Equity Schemes Performance of Equity Schemes HSBC MIP - Savings Plan HSBC MIP - Regular Plan HSBC Income Fund - Investment Plan HSBC Income Fund - Short Term Plan HSBC Floating Rate Fund - Long Term Plan HSBC Cash Fund HSBC Gilt Fund HSBC Ultra Short Term Bond Fund HSBC Flexi Debt Fund Fund Managers - MIP & Debt Comparative Performance of MIP & Debt Schemes Section II - How to read Factsheet
3 Fund Manager Commentary RBI's Monetary Policy The Reserve Bank of India (RBI) reduced overnight Repo rate by 50 basis points (bps) to 6.75% in the recently held monetary policy review meeting on September 29, The RBI has cut interest rate by 125 bps in the current cycle. Benign inflation outlook and pressure of economic growth paved path for this move. Rate cut action by the RBI was necessitated to provide impetus to domestic growth on back of weaker global demand. Further, given the Government's commitment to respect its fiscal deficit target, onus fell on monetary policy to be accommodative. The RBI has used March 2017 inflation target of 5% as the goal post. Expecting, 1.5-2% real interest rates in 1 year Treasury bill, it has frontloaded rate reduction to 50 bps, which is appropriate at this stage of recovery. The RBI also drew comfort from lower food inflation due to resolute supply management by Government, postponement of policy normalization by the Federal Open Market Committee (FOMC) in the United States (US) and partial transmission of interest rate cuts till date by banks in their lending rates. Other major change was policy on FPI investments. FPI investment in Government Securities (G-Sec) will be increased to 5% in a phased manner till March 2018 from 3.7% of current outstanding. Additionally 2% of limits in State Development Loan (SDL) will also be opened up. About INR 130 billion in G-sec and INR 35 billion in SDLwill be opened up in each of the next two quarters Repo Rate Movement 10.00% 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% Jul/07 Oct/07 Jan/08 Apr/08 Aug/08 Nov/08 Feb/09 May/09 Sep/09 Dec/09 Mar/10 Jul/10 Oct/10 Jan/11 May/11 Aug/11 Nov/11 Feb/12 Jun/12 Sep/12 Dec/12 Mar/13 Jul/13 Oct/13 Jan/14 May/14 Aug/14 Nov/14 Mar/15 Jun/15 Sep/15 Source: Bloomberg, RBI Repo Rate Government front-loading capital expenditure Fiscal deficit for April-August 2015 was lower at 66.5% of budgeted estimate against 79.3% last year on back of higher year-on-year (YoY) disinvestment proceeds (though far from annual target), higher indirect taxes and lower oil subsidy. Capital expenditure continues in top gear to provide boost to economy. However, weak direct tax collections and higher spending on food and fertilizer subsidy continues to be key concerns. Lead Indicators The Consumer Price Index (CPI) continues to reap benefits from lower commodity prices India's inflation reading continued to get benefitted by weak commodity prices. The CPI reading for the month of August 2015 came at 3.66%, in line with market expectations and marginally lowers than previous month print of 3.69%. Though there was broad based sequential uptick in food items on back of insufficient monsoon, decline in commodity prices and second round impact of earlier softening in prices resulted in number under-shooting RBI's projected print of 4%. The core inflation declined to 5.5% against 5.7% a month ago CPI Inflation (%) Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Consumer Price Index (CPI) Source: Bloomberg; Central Statistical Organisation (CSO) India The Wholesale Price Index (WPI) inflation moved further into negative territory with August 2015 reading coming at -4.9% against -4.1% a month ago. Most of commodity linked components continue to show negative inflation. 01
4 Fund Manager Commentary Index of Industrial Production (IIP) building up Industrial production growth at 4.2% in July 2015 is indicative of nascent signs of uptick in growth impulses. June 2015 IIP has been revised higher by 60 bps at 4.4%, primarily driven by pickup in manufacturing segment. On the usage front, capital goods note a sharp 10.6% surge while consumer durables grew at 11.4%. 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% -4.0% Jan/13 Mar/13 May/13 Jul/13 Index of Industrial Production (IIP) Sep/13 Nov/13 Jan/14 Mar/14 May/14 Jul/14 Sep/14 Nov/14 Jan/15 Mar/15 May/15 Jul/15 IIP YoY Growth (New Series; base ) Source: Bloomberg; Central Statistical Organisation (CSO) India External Data on Institutional Flows: The net inflows from the Foreign Institutional Investors (FIIs) remained in the negative zone though their pace of selling moderated during the month. FIIs net sold Indian equities worth ~USD 861 million during the month taking their YTD tally down to ~USD 3.6 billion of net inflows. However, FII outflows were more than compensated by continuing strong momentum from the domestic segments. Domestic Institutional Investors (DIIs) led by MFs (~USD 1.3 billion net inflows) notched up ~USD 1.5 billion of net inflows during September The DIIs have so far net bought equities worth ~USD 8.2 billion this year, entirely led by ~USD 8.9 billion net inflows from the domestic MFs. Trade deficit data: Trade deficit for the month ofaugust 2015 registered a marginal decline at ~USD 12.5 billion (~USD 12.8 billion in July 2015), but was higher than the consensus estimate of ~USD 10.7 billion. Exports at ~USD 21.3 billion (-20.7% YoY) continued to remain weak with declines in both commodity and non-commodity segments and this was the ninth consecutive month of decline for exports overall. Total imports at ~USD 33.7 billion (-9.9% YoY) also contracted led by a decline in oil imports though non-oil imports saw an expansion due to pick-up in gold imports. Global Economic Scenario The Fed decided to hold the Fed Funds target rate at the % range. The move was not unanimous as there were voices to begin the normalization process. The FOMC statement and press conference was modestly dovish given the strong focus on the inflation outlook and concerns over global developments, but left the door open for an interest rate increase later this year. Although, the FOMC retains its positive assessment of US economic activity, it said "recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term. The Fed added that the risks to the US economy remained nearly balanced but it was "monitoring developments abroad." Equity Market Update Equity markets recovered after a weak start Equity markets recovered after a weak start to the month and subsequently traded in a range bound manner. The markets closed marginally lower, after the significant decline seen during the previous month. The Monsoon season of recorded a deficit of ~14%, which was slightly higher than the Indian Meteorological Department (IMD) forecast for the full season (12%). After a sharp depreciation seen in the previous month, the INR recovered and appreciated by ~1.3% during the month of September 2015 vs. USD. Despite the volatility in August 2015, INR has been the third best-performing amongst the major Emerging Market currencies on a yearto-date (YTD) basis Market indices S&P BSE Sensex and NSE CNX Nifty were down at -0.5% and -0.3% respectively during the month of September S&P BSE Midcap & Small cap indices closed higher and gained 0.6% and 0.5% respectively during September
5 Fund Manager Commentary 0.8% 0.6% 0.4% 0.2% 0.0% -0.2% -0.4% -0.6% -0.8% -1.0% Indices Performance - September 2015 Sensex BSE100 BSE200 BSE500 BSE MidCap BSE SmallCap Source: Bombay Stock Exchange (BSE) Equity market outlook From a near term perspective, the Bihar assembly elections, June September 2015 quarter earnings season trends and global cues are likely to influence market movements. Bihar election is a crucial event for the ruling NDA coalition from a Rajya Sabha standpoint and will be looked through the lens of whether the government is able to sustain its popularity after the Lok Sabha and other recent state assembly victories. While there could be volatility in the near term, we do view this as an opportunity to build a case for a longer term exposure to India equities on a strategic basis, given the relative attractiveness for the Indian economy vis-à-vis its emerging market counterparts. Estimates for earnings growth remain subdued for a year forward and the monsoon too has been below normal this year. Credit growth continues to be sub-par for the year and the much anticipated government investment push remains elusive. The market however is relatively much better in comparison to its emerging market peers that are more export and commodity oriented and may be a preferred play among foreign investors as a safe haven. We stay positive on equities and and look at this asset class as an avenue for long term wealth creation. Debt Market Update Bond prices witnessed significant rally during the month of September er than expected Gross Domestic Product (GDP) growth laid down foundation for the month. However, caution prevailed as in-line inflation release and Current Account Deficit (CAD) numbers failed to steer market in bullish mode ahead of FOMC meeting. Markets rallied post US Federal Reserve (Fed) meeting outcome as rates were left un-changed with marginally dovish tone. Markets rallied significantly post, higher than expected easing in benchmark rates with 10 year Government Securities (G-sec) touching low of 7.51% against previous month close of 7.79%. Shorter end bond yields rallied more with spreads between 5 years and 10 years compressing from 10 bps to 5 bps whereas years spreads expanded to 28 bps from 22 bps signifying shorter end discounting bulk of recent cut. The corporate bond curve witnessed expansion of spreads during the month, particularly in lower than AAA papers. Participants went into caution mode post few downgrades by rating agencies. Overnight and money market rates continued to trade actively as system liquidity remained positive. Front loading of expenditure by Government and pro-active liquidity management by the RBI kept overnight rates in close proximity to repo rate. Debt market outlook Growth with eye on the inflation target is the focus of the RBI now. With credit growth still in single digit and with capital infusion by the government, it is imperative for banks to pass on the rate reduction to borrowers. This may help build some demand and expand capacities in the long run. This coupled with softer commodity prices may result in further easing in inflation outlook paving way for future rate cuts. Policy rates being reduced by 50 bps, emphasis will now shift to reduction in other rates in the economy viz. small savings rate and bank lending rates that have not reduced commensurately. With lower inflation, in the immediate term, the RBI can afford to focus on the medium term inflation target. This entails more accommodative policy and to be data dependent to build up the supply side rather than just curbing demand. Effectively, with growth pressures being transmitted across boundaries, central banks are being forced to focus on stimulating domestic growth in the absence of demand support from external markets. With overnight at 6.75%, current level of gilts still presents good value. The next few months are going to witness demand and supply in gilts getting balanced due to incremental FPI demand and maturities. This also takes into account the marginal front loading of the borrowing calendar in the second half of the financial year. The borrowing buckets are in line with expectations with additional first time maturity of a 40 year G-sec. With gold monetization expected at INR 150 billion, government borrowing is scheduled to be lower by that amount. With ample liquidity and credit off-take at its low, it makes sense for investors to continue to invest in duration. Source: Bloomberg, for all data except where mentioned otherwise 03
6 Fund Manager Commentary Sectors HSBC Equity Fund HSBC India Opportunities Fund HSBC Midcap Equity Fund # Consumer Discretionary Consumer Staples Energy Financials Healthcare Industrials Information Technology Materials Telecommunication Utilities Overweight Underweight Neutral # The S&P BSE Midcap Index was reconstituted in mid of April 2015 and hence the relative sector positioning of the fund vs. the benchmark has changed. Review: HSBC Equity Fund Being overweight consumer discretionary, information technology and underweight consumer staples helped performance while being underweight materials, utilities hurt performance. Review: HSBC India Opportunities Fund Being overweight consumer discretionary and underweight consumer staples helped performance while being overweight information technology and underweight utilities hurt performance. Review: HSBC Midcap Equity Fund Being overweight consumer discretionary and underweight consumer staples, healthcare helped performance while being overweight industrials, materials and underweight financials, utilities hurt performance. Review: HSBC Progressive Themes Fund Currently focusing on the following themes : 1.. Economic Reforms (22%) which includes Financial sector reform 10.3% and Oil & Gas Sector deregulation sub theme- 11.8% and 2. Infrastructure (61.7%) which includes Power- 9.1%, Construction 33.2% and Logistics- 19.5%. Well diversified exposure across sectors encompassing the above themes. 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 MIP Regular and Savings Plans Our current exposure is 13.48% in HMIP Regular and 22.40% in HMIP Savings plan. Currently it is more biased towards large caps than mid or small caps. 04
7 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 equity related securities. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Manager Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.39% Direct Plan 1.69% Excludes service tax on Investment Management fees of 0.20% of Total NetAssets. Portfolio Turnover 0.83 Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Auto 7.09% AutoAncillaries 1.30% Banks 25.48% Cement 1.65% Construction 2.33% Construction Project 3.24% Consumer Non Durables 6.34% Finance 5.46% Minerals/Mining 2.65% Pesticides 1.86% Petroleum Products 3.68% Pharmaceuticals 9.81% Services 2.21% Software 18.11% Telecom - Services 2.36% Textile Products 2.80% Other Equity Investments 2.56% Reverse Repos/CBLOs 1.13% Net CurrentAssets -0.06% Total Net Assets % This product is suitable for investors who are seeking*: To create wealth over long term Investment in equity and equity related securities HSBC Equity Fund (HEF) LOW 10-Dec-02 S&P BSE 200 ` , Neelotpal Sahai Available `10,000 `1,000 p.m.() Nil Riskometer Moderate Investors understand that their principal will be at risk 0.98% HIGH * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. FUND PORTFOLIO Issuer Market Value ( ` in Lacs) % to Net Assets Auto Maruti Suzuki India 2, % Tata Motors 2, % Auto Ancillaries MRF % Banks HDFC Bank 5, % ICICI Bank 3, % Axis Bank 2, % Yes Bank 2, % Indusind Bank 1, % State Bank of India % Cement Ultratech Cement 1, % Construction J.Kumar Infraprojects 1, % Construction Project Larsen & Toubro 2, % Consumer Non Durables I T C 3, % Hindustan Unilever 1, % Finance HDFC 2, % Bajaj Finance 1, % Minerals/Mining Coal India 1, % Pesticides UPL 1, % Petroleum Products Reliance Industries 1, % Hindustan Petroleum Corporation % Pharmaceuticals Sun Pharmaceutical Industries 1, % Divi's Laboratories 1, % Glenmark Pharmaceuticals 1, % Cadila Healthcare 1, % Dr. Reddy's Laboratories 1, % Services Aditya Birla Nuvo 1, % Software Infosys 4, % Tata Consultancy Services 3, % HCL Technologies 2, % Tech Mahindra 1, % Telecom - Services Bharti Airtel 1, % Textile Products Welspun India 1, % Other Equity Investments 1, % Cash Equivalents CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Dividend Declaration Record Date / period of dividend declared Non-Institutional Institutional NAV ( `) per unit (cum dividend) HSBC Equity Fund - Dividend 19-Nov Feb Jun HSBC Equity Fund - Dividend - Direct Plan 22-Feb Jun Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit. 05
8 HSBC India Opportunities Fund (HIOF) 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 a significant portion of its assets towards fixed income securities if the fund manager becomes negative on equity markets. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Manager Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** Weighted Average (Annualized) Portfolio Turnover Monthly Total Expenses ratios Regular 2.44% Direct Plan 1.74% Excludes service tax on Investment Management fees of 0.21% of Total NetAssets. Asset Allocation 0.56 Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Auto 6.46% AutoAncillaries 1.62% Banks 24.21% Cement 1.45% Chemicals 1.64% Construction 5.29% Construction Project 4.08% Consumer Non Durables 4.88% Finance 2.48% Industrial Products 1.67% Minerals/Mining 1.77% Pesticides 1.86% Petroleum Products 2.33% Pharmaceuticals 8.62% Software 17.57% Telecom - Services 2.44% Textile Products 5.82% Other Equity Investments 3.91% Reverse Repos/CBLOs 2.31% Net CurrentAssets -0.41% Total Net Assets % HSBC India Opportunities Fund (HIOF) This product is suitable for investors who are seeking*: To create wealth over long term Invests in equity and equity related securities across market capitalisations LOW 24-Feb-04 S&P BSE 500 ` , Neelotpal Sahai Available `10,000 `1,000 p.m.() Nil Riskometer Moderate 0.95% Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH FUND PORTFOLIO Issuer Market Value ( ` in Lacs) % to Net Assets Auto Eicher Motors 1, % Tata Motors 1, % Maruti Suzuki India % Auto Ancillaries Apollo Tyres % Banks HDFC Bank 4, % ICICI Bank 3, % Axis Bank 2, % Yes Bank 2, % Indusind Bank 1, % Cement Ultratech Cement % Chemicals Vinati Organics % Construction Ahluwalia Contracts (India) % MBL Infrastructures % IRB Infrastructure Developers % KNR Constructions % Construction Project Larsen & Toubro 1, % Power Mech Projects % Consumer Non Durables I T C 1, % Hindustan Unilever % Finance Bajaj Finance % HDFC % Industrial Products Supreme Industries % Minerals/Mining Coal India % Pesticides UPL 1, % Petroleum Products Reliance Industries 1, % Pharmaceuticals Glenmark Pharmaceuticals 1, % Torrent Pharmaceuticals 1, % IPCA Laboratories % Divi's Laboratories % Aurobindo Pharma % Software Infosys 3, % HCL Technologies 2, % Tata Consultancy Services 2, % Tech Mahindra % Cyient % Telecom - Services Bharti Airtel 1, % Textile Products Welspun India 1, % Arvind % Indian Terrain Fashions % Other Equity Investments 2, % Cash Equivalents CBLO 1, % Net Current Assets % Total Net Assets as on 30-Sep , % Dividend Declaration Record Date / period of dividend declared Non-Institutional Institutional NAV ( `) per unit (cum dividend) HSBC India Opportunities Fund - Dividend 04-Feb Jun Mar HSBC India Opportunities Fund - Dividend Direct Plan 04-Feb Jun Mar Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit. 06
9 HSBC Midcap Equity Fund (HMEF) An Open Ended Diversified Equity Scheme Investment Objective: Seeks to generate long term capital growth from an actively managed portfolio of equity and equity related securities primarily being midcap stocks. However, it could move a portion of its assets towards fixed income securities if the fund manager becomes negative on the Indian equity markets. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Manager Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.51% Direct Plan 1.81% Excludes service tax on Investment Management fees of 0.22% on Regular Plan and 0.21% on Direct Plan of Total NetAssets. Portfolio Turnover 0.42 Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation 19-May-05 S&P BSE Midcap ` , Dhiraj Sachdev Available `10,000 `1,000 p.m.() Nil 1.10% Auto 1.71% AutoAncillaries 7.25% Banks 5.84% Cement 1.01% Chemicals 3.10% Construction 4.66% Construction Project 1.80% Consumer Durables 2.90% Consumer Non Durables 4.63% Finance 13.06% Industrial Capital Goods 4.28% Industrial Products 3.92% Media & Entertainment 3.41% Pesticides 5.76% Petroleum Products 4.80% Pharmaceuticals 6.08% Power 1.45% Software 1.91% Textile Products 7.12% Textiles - Synthetic 1.70% Transportation 4.70% Other Equity Investments 8.31% Reverse Repos/CBLOs 1.27% Net CurrentAssets -0.67% Total Net Assets % HSBC Midcap Equity Fund (HMEF) This product is suitable for investors who are seeking*: To create wealth over long term Invests in predominantly mid cap equity and equity related securities LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH FUND PORTFOLIO Issuer Market Value ( ` in Lacs) % to Net Assets Auto Vst Tillers Tractors % Auto Ancillaries Apollo Tyres 1, % Ceat 1, % Sundram Fasteners % Suprajit Engineering % Banks DCB Bank 1, % Yes Bank 1, % Cement Everest Industries % Chemicals Vinati Organics 1, % Construction IRB Infrastructure Developers % National Buildings Construction Corp % Ahluwalia Contracts (India) % Construction Project Power Mech Projects % Consumer Durables Mirza International 1, % Consumer Non Durables CCL Products (India) 1, % Finance Indiabulls Housing Finance 1, % Motilal Oswal Financial Services 1, % Dewan Housing Finance Corporation 1, % Cholamandalam Investment & Fin Co. 1, % Industrial Capital Goods Sanghvi Movers 1, % BEML % Industrial Products Ramkrishna Forgings 1, % Finolex Industries % Media & Entertainment Jagran Prakashan % Hindustan Media Ventures % Pesticides UPL 1, % PI Industries % Petroleum Products Hindustan Petroleum Corporation 1, % Gulf Oil Lubricants India % Pharmaceuticals Aurobindo Pharma 1, % Torrent Pharmaceuticals % Wockhardt % Power Kalpataru Power Transmission % Software Sonata Software % Textile Products Welspun India 1, % Arvind % Indian Terrain Fashions % Textiles - Synthetic Sarla Performance Fibers % Transportation Adani Ports & Special Economic Zone % Gateway Distriparks % Gujarat Pipavav Port % Other Equity Investments 3, % Cash Equivalents CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Dividend Declaration Record Date / period of dividend declared Non-Institutional Institutional NAV ( `) per unit (cum dividend) HSBC Midcap Equity Fund - Dividend 24-Mar Dec Nov Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit. 07
10 HSBC Progressive Themes Fund (HPTF) An Open Ended Flexi-Theme Equity Scheme Investment Objective: Seeks to generate long term capital growth from an actively managed portfolio of equity and equity related securities by investing primarily in sectors, areas and themes that play an important role in, and/or benefit from India's progress, reform process and economic development. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Manager Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** 23-Feb-06 S&P BSE 200 ` , Dhiraj Sachdev Available `10,000 `1,000 p.m.() Nil 1.34% Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.64% Direct Plan 1.94% Excludes service tax on Investment Management fees of 0.23% of Total NetAssets. Portfolio Turnover 0.15 Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation AutoAncillaries 4.13% Banks 4.50% Cement 7.36% Construction 16.14% Construction Project 1.15% Ferrous Metals 1.51% Finance 5.17% Gas 1.85% Industrial Capital Goods 7.33% Industrial Products 8.18% Minerals/Mining 1.50% Oil 1.38% Petroleum Products 8.55% Power 7.58% Transportation 19.45% Other Equity Investments 3.88% Reverse Repos/CBLOs 1.06% Net CurrentAssets -0.72% Total Net Assets % HSBC Progressive Themes Fund (HPTF) This product is suitable for investors who are seeking*: To create wealth over long term Invests in equity and equity related securities, primarily in themes that play an important role in India's economic development LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH FUND PORTFOLIO Issuer Auto Ancillaries Apollo Tyres % Banks Jammu & Kashmir Bank % Karnataka Bank % Cement Everest Industries % HIL % Construction National Buildings Construction Corp % IRB Infrastructure Developers % Ahluwalia Contracts (India) % KNR Constructions % Construction Project Larsen & Toubro % Ferrous Metals Jindal Saw % Finance Rural Electrification Corporation % Gas Gujarat State Petronet % Industrial Capital Goods BEML % Sanghvi Movers % Industrial Products FAG Bearings India 1, % Minerals/Mining Gujarat Mineral Development Corp % Oil Aban Offshore % Petroleum Products Hindustan Petroleum Corporation % Indian Oil Corporation % Power Power Grid Corporation of India % Reliance Infrastructure % PTC India % JSW Energy % Transportation Gateway Distriparks % Gujarat Pipavav Port % Adani Ports & Special Economic Zone % Other Equity Investments % Cash Equivalents Market Value ( ` in Lacs) % to Net Assets CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Dividend Declaration Record Date / period of dividend declared Non-Institutional Institutional NAV ( `) per unit (cum dividend) HSBC Progressive Themes Dividend 11-May May Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit. 08
11 HSBC Tax Saver Equity Fund (HTSF) 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 & equity related instruments of companies across various sectors and industries, with no capitalisation bias. The Fund may also invest in fixed income securities. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Manager Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** 05-Jan-07 S&P BSE 200 ` , Aditya Khemani Available `500 (Lumpsum & ) Nil 0.92% Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.59% Direct Plan 1.89% Excludes service tax on Investment Management fees of 0.23% of Total NetAssets. Portfolio Turnover 0.58 Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Auto 5.38% AutoAncillaries 4.16% Banks 24.40% Cement 3.76% Construction Project 2.98% Consumer Non Durables 4.97% Finance 4.40% Industrial Capital Goods 2.21% Industrial Products 1.60% Minerals/Mining 1.37% Non - Ferrous Metals 1.84% Oil 1.51% Pesticides 1.15% Petroleum Products 1.28% Pharmaceuticals 7.13% Services 2.33% Software 13.73% Textile Products 9.05% Transportation 4.21% Other Equity Investments 0.92% Reverse Repos/CBLOs 2.54% Net CurrentAssets -0.92% Total Net Assets % HSBC Tax Saver Equity Fund (HTSF) This product is suitable for investors who are seeking*: To create wealth over long term Invests in equity and equity related securities with no market capitilastion bias LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH FUND PORTFOLIO Issuer Market Value ( ` in Lacs) % to Net Assets Auto Maruti Suzuki India % Tata Motors % Auto Ancillaries MRF % Apollo Tyres % Banks HDFC Bank 1, % Axis Bank % ICICI Bank % Indusind Bank % Federal Bank % Jammu & Kashmir Bank % State Bank of India % Cement The Ramco Cements % Ultratech Cement % Construction Project Larsen & Toubro % Consumer Non Durables I T C % Kaveri Seed Company % Finance LIC Housing Finance % HDFC % Industrial Capital Goods Crompton Greaves % Industrial Products Finolex Industries % Minerals/Mining Coal India % Non - Ferrous Metals Hindustan Zinc % Oil Oil & Natural Gas Corporation % Pesticides UPL % Petroleum Products Reliance Industries % Pharmaceuticals Sun Pharmaceutical Industries % IPCA Laboratories % Dr. Reddy's Laboratories % Services Aditya Birla Nuvo % Software Tata Consultancy Services 1, % Infosys 1, % HCL Technologies % Textile Products Welspun India % Arvind % SRF % Indian Terrain Fashions % Transportation Gateway Distriparks % Adani Ports & Special Economic Zone % Other Equity Investments % Cash Equivalents CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Dividend Declaration Record Date / period of dividend declared Non-Institutional Institutional NAV ( `) per unit (cum dividend) HSBC Tax Saver Equity Fund Dividend 19-Feb Oct Mar HSBC Tax Saver Equity Fund Dividend Direct 17-Oct Mar Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit. 09
12 HSBC Dynamic Fund (HDF) 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. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Managers 24-Sep-07 S&P BSE 200 ` , Neelotpal Sahai (for Equity portion) Sanjay Shah (for Fixed Income portion) FUND PORTFOLIO Issuer Auto Market Value ( ` in Lacs) % to Net Assets Tata Motors % Maruti Suzuki India % Hero Motocorp % Auto Ancillaries Motherson Sumi Systems % Banks Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** Available `10,000 `1,000 p.m.() Nil 0.79% Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.69% Direct Plan 1.99% Excludes service tax on Investment Management fees of 0.24% of Total NetAssets. Portfolio Turnover 0.77 Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Auto 6.67% AutoAncillaries 1.04% Banks 18.55% Cement 1.39% Construction Project 4.46% Consumer Non Durables 10.15% Finance 5.27% Minerals/Mining 1.99% Pesticides 1.99% Petroleum Products 4.34% Pharmaceuticals 7.32% Power 2.37% Software 11.31% Telecom - Services 1.88% Transportation 2.08% Reverse Repos/CBLOs 19.86% Net CurrentAssets -0.67% Total Net Assets % HSBC Dynamic Fund (HDF) This product is suitable for investors who are seeking*: To create wealth over long term Invests in equity and equity related securities and in debt instruments when view on equity markets is negative LOW Riskometer Moderate Investors understand that their principal will be at risk HIGH * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HDFC Bank % ICICI Bank % Axis Bank % Yes Bank % Cement Ultratech Cement % Construction Project Larsen & Toubro % Consumer Non Durables I T C % Hindustan Unilever % Asian Paints % Colgate Palmolive (India) % Finance HDFC % Minerals/Mining Coal India % Pesticides UPL % Petroleum Products Reliance Industries % Pharmaceuticals Glenmark Pharmaceuticals % Sun Pharmaceutical Industries % Cipla % Power Power Grid Corporation Of India % Software Infosys % Tata Consultancy Services % HCL Technologies % Telecom - Services Bharti Airtel % Transportation Adani Ports & Special Economic Zone % Cash Equivalents CBLO 1, % Net Current Assets % Total Net Assets as on 30-Sep , % 10
13 HSBC Dividend Yield Equity Fund (HDYEF) An Open Ended Equity Scheme Investment Objective: To provide long-term capital growth from a diversified portfolio of equity and equity related instruments. The focus would be to invest in stocks of companies facing "out-of-ordinary" conditions. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Managers Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** 21-Mar-07 S&P BSE 200 ` , Gaurav Mehrotra & Amaresh Mishra Available `10,000 `1,000 p.m.() Nil 0.89% Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.34% Direct Plan 1.64% Excludes service tax on Investment Management fees of 0.19% of Total NetAssets. Portfolio Turnover 0.26 Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Auto 6.37% AutoAncillaries 3.02% Banks 19.99% Cement 1.59% Chemicals 1.34% Construction 2.21% Construction Project 3.54% Consumer Non Durables 7.86% Finance 5.21% Minerals/Mining 5.05% Non - Ferrous Metals 2.29% Oil 2.49% Petroleum Products 3.79% Pharmaceuticals 4.41% Power 2.75% Software 19.99% Textile Products 1.76% Transportation 3.38% Other Equity Investments 0.78% Reverse Repos/CBLOs 2.63% Net CurrentAssets -0.45% Total Net Assets % HSBC Dividend Yield Equity Fund (HDYEF) This product is suitable for investors who are seeking*: To create wealth over long term Invests in equity and equity r e l a t e d s e c u r i t i e s o f companies facing "out-ofordinary" conditions LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH FUND PORTFOLIO Issuer Auto Market Value ( ` in Lacs) % to Net Assets Hero Motocorp % Maruti Suzuki India % Tata Motors % Auto Ancillaries MRF % Banks ICICI Bank % Axis Bank % HDFC Bank % Karur Vysya Bank % Jammu & Kashmir Bank % Cement ACC % Chemicals Tata Chemicals % Construction IRB Infrastructure Developers % Construction Project Larsen & Toubro % Consumer Non Durables I T C % Hindustan Unilever % Finance Indiabulls Housing Finance % IDFC % Minerals/Mining Coal India % Non - Ferrous Metals Hindustan Zinc % Oil Oil & Natural Gas Corporation % Petroleum Products Bharat Petroleum Corporation % Reliance Industries % Pharmaceuticals Lupin % Sun Pharmaceutical Industries % Power NTPC % Software Infosys % Tata Consultancy Services % Wipro % Eclerx Services % Textile Products Welspun India % Transportation Gateway Distriparks % Other Equity Investments % Cash Equivalents CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % 11
14 HSBC Emerging Markets Fund (HEMF) An Open Ended Scheme Investment Objective: To provide long term capital appreciation by investing in India and in the emerging markets, in equity and equity related instruments, share classes and units/securities issued by overseas mutual funds or unit trusts. The fund may also invest a limited proportion in domestic debt and money market instruments. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Manager 17-Mar-08 MSCI Emerging Markets Index ` Anitha Rangan (Dedicated fund manager for overseas investments) FUND PORTFOLIO Issuer Overseas Mutual Fund HSBC GIF Global Emerg Mkts Eq S1 Dis % Cash Equivalents Market Value ( ` in Lacs) % to Net Assets CBLO % Net Current Assets % Total Net Assets as on 30-Sep % Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** Available `10,000 `1,000 p.m.() Nil 0.74% Dividend Declaration Record Date / period of dividend declared Non-Institutional Institutional NAV ( `) per unit (cum dividend) HSBC - Emerging Market Fund - Dividend 27-Jun HSBC - Emerging Market Fund - Dividend - Direct Plan 27-Jun Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit. Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.69% Direct Plan 1.99% (inclusive of underlying scheme's expenses) Excludes service tax on Investment Management fees of 0.12% of Total NetAssets. Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Overseas Mutual Fund 98.23% Reverse Repos/CBLOs 2.44% Net CurrentAssets -0.67% Total Net Assets % HSBC Emerging Markets Fund (HEMF) This product is suitable for investors who are seeking*: To create wealth over long term Investment in equity and equity related securities of Emerging economies LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH 12
15 HSBC Asia Pacific (Ex Japan)Dividend Yield Fund (HAPDF) 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) Asia Pacific Ex Japan Equity Dividend Fund (HEHDF). 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. However, there is no assurance that the investment objective of the Scheme will be achieved. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Manager Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** 24-Feb-14 MSCI AC Asia Pacific ex Japan ` , Anitha Rangan (for overseas investments), Sanjay Shah (for investments in Indian Market) Available `10,000 `1,000 p.m.() Nil 0.63% FUND PORTFOLIO Issuer Overseas Mutual Fund HSBC GIF ASIA PACIFIC EX JAPAN EQ HD-S9D 2, % Cash Equivalents Market Value ( ` in Lacs) % to Net Assets CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.29% Direct Plan 1.59% (inclusive of underlying scheme's expenses) Excludes service tax on Investment Management fees of 0.09% of Total NetAssets. Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Overseas Mutual Fund 98.01% Reverse Repos/CBLOs 2.57% Net CurrentAssets -0.58% Total Net Assets % HSBC Asia Pacific (Ex Japan)Dividend Yield Fund (HAPDF) This product is suitable for investors who are seeking*: To create wealth over long term Investment in equity and equity related securities of Asia Pacific countries (excluding Japan) through fund of funds route LOW Riskometer Moderate Investors understand that their principal will be at risk HIGH * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. 13
16 HSBC Brazil Fund (HBF) 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/shares of HSBC Global Investment Funds (HGIF) Brazil Equity Fund. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. 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. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Manager Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** 06-May-11 MSCI Brazil 10/40 Index ` , Anitha Rangan (Dedicated fund manager for overseas investments) Available `10,000 `1,000 p.m.() Nil 1.57% FUND PORTFOLIO Issuer Overseas Mutual Fund HSBC GIF BRAZIL EQUITY S3D 2, % Cash Equivalents Market Value ( ` in Lacs) % to Net Assets CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.69% Direct Plan 1.99% (inclusive of underlying scheme's expenses) Excludes service tax on Investment Management fees of 0.12% of Total NetAssets. Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Overseas Mutual Fund 99.47% Reverse Repos/CBLOs 1.86% Net CurrentAssets -1.33% Total Net Assets % HSBC Brazil Fund (HBF) This product is suitable for investors who are seeking*: To create wealth over long term Invests in equity and equity related securities through feeder route in Brazilian markets LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH 14
17 HSBC Managed Solutions India - Growth (HMSG) An Open Ended Fund of Funds Scheme Investment Objective: The objective of the Plan is to provide long term total return primarily by seeking capital appreciation through an active asset allocation with diversification commensurate with the risk profile of investments by investing predominantly in units of equity mutual funds as well as in a basket of debt mutual funds gold exchange traded funds (ETFs) and other ETFs, offshore mutual funds and money market instruments. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Managers 30-Apr-14 Composite Index constituting 80% of S&P BSE 200 Index and 20% of CRISIL Composite Bond Index ` , Anitha Rangan (Dedicated Fund Manager for investments in foreign securities) Gaurav Mehrotra (For managing investments in Indian Market Equity Portion) Sanjay Shah (For managing investments in Indian Market Fixed Income Portion) FUND PORTFOLIO Issuer Mutual Fund HSBC Equity Fund - Growth Direct 7, % HSBC Midcap Equity Fund - Growth Direct 2, % HSBC Income Fund Short Term - Growth Direct 1, % HSBC Income Fund Inv Plan Growth Direct 1, % HSBC Flexi Debt Fund Growth Direct % Cash Equivalents Market Value ( ` in Lacs) % to Net Assets CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** Available `5,000 `1,000 p.m.() Nil 0.77% Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.27% Direct Plan 2.00% (inclusive of underlying scheme's expenses) Excludes service tax on Investment Management fees of 0.00% of Total Net Assets and of 0.19% on the underlying scheme's in which the fund of fund invests. Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Mutual Fund 97.23% Reverse Repos/CBLOs 2.29% Net CurrentAssets 0.48% Total Net Assets % HSBC Managed Solutions India - Growth This product is suitable for investors who are seeking*: To create wealth over long term Investing predominantly in units of equity mutual funds as well as in a basket of debt mutual funds, gold & exchange traded funds, offshore mutual funds and money market instruments. LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH 15
18 HSBC Managed Solutions India - Moderate (HMSM) An Open Ended Fund of Funds Scheme Investment Objective: The objective of the fund is to provide long term total return aimed at capital appreciation and providing income through an active asset allocation with diversification commensurate with the risk profile of investments by investing in a basket of debt mutual funds, equity mutual funds, gold ETFs and other ETFs, offshore mutual funds and money market instruments. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Managers Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** 30-Apr-14 CRISIL Balanced Fund Index ` , Anitha Rangan (Dedicated Fund Manager for investments in foreign securities) Gaurav Mehrotra (For managing investments in Indian Market Equity Portion) Sanjay Shah (For managing investments in Indian Market Fixed Income Portion) Available `5,000 `1,000 p.m.() Nil 0.54% FUND PORTFOLIO Issuer Mutual Fund HSBC Equity Fund - Growth Direct 8, % HSBC Income Fund Short Term - Growth Direct 6, % HSBC Flexi Debt Fund Growth Direct 4, % HSBC Midcap Equity Fund - Growth Direct 2, % HSBC Income Fund Inv Plan Growth Direct 1, % Cash Equivalents Market Value ( ` in Lacs) % to Net Assets CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.08% Direct Plan 1.83% (inclusive of underlying scheme's expenses) Excludes service tax on Investment Management fees of 0.00% of Total Net Assets and of 0.15% on the underlying scheme's in which the fund of fund invests. Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Mutual Fund 99.16% Reverse Repos/CBLOs 2.30% Net CurrentAssets -1.46% Total Net Assets % HSBC Managed Solutions India - Moderate This product is suitable for investors who are seeking*: To create wealth and provide income over the long term Investments in a basket of debt mutual funds, equity mutual funds, gold & exchange traded funds, offshore mutual funds and money market instruments. LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH 16
19 HSBC Managed Solutions India - Conservative (HMSC) An Open Ended Fund of Funds Scheme 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. FUND DETAILS Date of Allotment NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Managers Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** 30-Apr-14 Composite Index constituting of 90% into CRISIL Composite Bond Index and 10% of S&P BSE 200 Index ` , Anitha Rangan (Dedicated Fund Manager for investments in foreign securities) Gaurav Mehrotra (For managing investments in Indian Market Equity Portion) Sanjay Shah (For managing investments in Indian Market Fixed Income Portion) Available `5,000 `1,000 p.m.() Nil 0.21% FUND PORTFOLIO Issuer Mutual Fund HSBC Income Fund Short Term - Growth Direct 13, % HSBC Flexi Debt Fund Growth Direct 10, % HSBC Equity Fund - Growth Direct 3, % HSBC Income Fund Inv Plan Growth Direct 1, % HSBC Midcap Equity Fund - Growth Direct 1, % HDFC Income Fund Direct Plan - Growth % Cash Equivalents Market Value ( ` in Lacs) % to Net Assets CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Weighted Average Monthly Total Expenses ratios (Annualized) Regular 1.64% Direct Plan 1.39% (inclusive of underlying scheme's expenses) Excludes service tax on Investment Management fees of 0.00% of Total Net Assets and of 0.09% on the underlying scheme's in which the fund of fund invests. Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Mutual Fund 98.08% Reverse Repos/CBLOs 1.61% Net CurrentAssets -0.69% Total Net Assets % HSBC Managed Solutions India - Conservative This product is suitable for investors who are seeking*: To create wealth over long term Investing predominantly in units of debt mutual funds as well as in a basket of equity mutual funds, gold & other exchange traded funds and money market instruments. LOW Riskometer Moderate Investors understand that their principal will be at Moderate risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH 17
20 HSBC Global Consumer Opportunities Fund - Benefiting from China s Growing Consumption Power (HGCOF) 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. FUND DETAILS FUND PORTFOLIO Date of Allotment 23-Feb-15 MSCI AC World Index Issuer Overseas Mutual Fund Market Value ( ` in Lacs) % to Net Assets NAV (Growth) per unit (as on ) Monthly Average AUM (In Lakhs) Fund Managers ` , Anitha Rangan (Dedicated Fund Manager) & Sanjay Shah (for investments in Indian Market) HSBC GIF-China Consumer Opp S5 Cap 1, % Cash Equivalents CBLO % Net Current Assets % Total Net Assets as on 30-Sep , % Minimum Application Statistical Ratios Standard Deviation R-Squared Beta (Slope) Sharpe Ratio** Available `5,000 `1,000 p.m.() Nil 0.74% Weighted Average Monthly Total Expenses ratios (Annualized) Regular 2.34% Direct Plan 1.64% (inclusive of underlying scheme's expenses) Excludes service tax on Investment Management fees of 0.10% of Total Net Assets and of 0.00% on the underlying scheme's in which the fund of fund invests. Statistical ratios disclosed as per daily returns of the last 3 years/since inception, whichever is Effective from March 1, 2013 for prospective investments. **Risk free rate:7.04 (FIMMDA-NSE Mibor) as on September 30, 2015) Asset Allocation Overseas Mutual Fund 99.49% Reverse Repos/CBLOs 3.64% Net CurrentAssets -3.13% Total Net Assets % HSBC Global Consumer Opportunities Fund - Benefiting from China s Growing Consumption Power (HGCOF) This product is suitable for investors who are seeking*: To create wealth over long term Investment in equity and equity related securities around the world focusing on growing consumer behaviour of China through feeder route LOW Riskometer Moderate Investors understand that their principal will be at risk * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. HIGH 18
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