The Asset Factsheet March 2018

The Asset
Factsheet - March 2018

Index
Fund Manager Commentary 01
HSBC Mutual Fund Products 05
HSBC Large Cap Equity Fund 06
HSBC Multi Cap Equity Fund 07
HSBC Small Cap Equity Fund 08
HSBC Infrastructure Equity Fund 09
HSBC Tax Saver Equity Fund 10
HSBC Dynamic Asset Allocation Fund 11
HSBC Global Emerging Markets Fund 12
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund 13
HSBC Brazil Fund 14
HSBC Managed Solutions India - Growth 15
HSBC Managed Solutions India - Moderate 16
HSBC Managed Solutions India - Conservative 17
HSBC Global Consumer Opportunities Fund 18
Fund Managers - Equity 19
Fund Manager Wise Comparative Performance of Equity Schemes 21
SIP Performance of Equity Schemes 26
HSBC Regular Savings Fund 31
HSBC Debt Fund 32

HSBC Short Duration Fund 33
HSBC Cash Fund 34
HSBC Low Duration Fund 35
HSBC Flexi Debt Fund 36

Fund Managers - Debt 37
Fund Manager Wise Comparative Performance of Debt Schemes 38

Section II - How to read Factsheet 40
Fund Manager Commentary
Equity markets remained on a weak trajectory
Markets continued to be weak driven by both global and domestic factors. After clocking close to 5% losses in the previous month, NSE Nifty
and S&P BSE Sensex saw another lacklustre month in March, dropping by 3.6% each. The BSE Midcap performance for the month (-3.6%)
was in-line with that of the frontline market indices while the BSE Smallcap index underperformed with losses of 6.3% during March.
-
Indices Performance - Mar 2018
0.0%
-1.0%
-2.0%
Returns %
-3.0%
-
-4.0%
-5.0%
-6.0%
-7.0%
Sensex Nifty BSE200 BSE500 BSE MidCap BSE SmallCap
Source: Bloomberg; Bombay Stock Exchange (BSE)
The market performance during March was impacted by global news-flow around the US – China trade war concerns and the US Federal
Reserve’s decision to raise interest rates and signals of further rate hikes over 2018-19. Domestically, there was a relative weakening of the
political narrative for the ruling dispensation at the centre, after losses for the party in much followed by-polls and a long standing ally’s
decision to quit the government. The political scenario is expected to remain fluid as next twelve months are packed with state assembly
elections and culminating in the general elections during the first half of next year. The BJP led NDA, however, did well in the assembly
elections in three North Eastern Indian states and went on to form governments there. The ruling party also improved their tally in the upper
house of the parliament after the election process to Rajya Sabha was concluded during the month.
The macro data releases during the month continued to show good traction and reflected a sustaining trend of economic recovery process
that is underway. The Industrial Production growth for the month of Jan 2018, stayed on course with a reading of 7.5% YoY. The inflation
trends have remained benign and is tracking below the RBI’s forecast with CPI moderating to 4.4% for Feb 2018. Trade deficit having seen
spikes in the recent months, moderated to a more normalized level of about USD 12 bn for Feb 2018, though the growth deceleration trends
in exports and spike in crude price environment need to be closely tracked in the near term.
External
Institutional Fund Flows
There was revival in the net inflows pattern from the Foreign Institutional Investor (FII) segment after seeing net outflows in the month of
February. The FIIs net bought equities worth about USD 2.02 bn during March and this compares to about USD 1.93 bn of net outflows seen
in February. In 2018 so far, the FII segment saw net inflows to the tune of about USD 2.13 bn. The Domestic Institutional Investor (DII) flows*
continued to remain in the positive territory although there was moderation to the extent of flows seen in the previous months. The segment
saw net inflows to the tune of about USD 1.03 bn* and on a CYTD basis the net inflows tally stood at about USD 3.85 bn. Within DIIs, the MFs
accounted for all of the net inflows while domestic insurers turned net sellers once again, after seeing some inflows in the previous month.
*Provisional Data
Global Economic Scenario
Global news flows impacted market sentiments adversely during the month and centered around the US actions on a faster rate hike cycle
scenario and the announcement of tariffs on Chinese imports. The US Federal Reserve hike the policy rates by 25 bps and signaled two more
hikes this year and a total of three in 2019. There were increasing concerns over global trade protectionism following US government’s
decision to impose tariffs on Chinese imports while China also announced tariffs on some US imports as a counter measure to the US action
and these decisions led to an increased volatility in markets during March and also dampened investor sentiments. Key aspects to watch in
the context of the trade actions are whether the US and China will go for the negotiation route to diffuse the situation or will there be further
import tariff announcements from both sides leading to a worsening of the current situation to that of heightened global protectionism.
Market View
Equity Market Outlook
Equity markets traded weak for the second consecutive month and is now turned negative on a CYTD basis (2018) after a strong
performance registered in 2017. For 2018 so far, NSE CNX Nifty and S&P BSE Sensex are down 3.2% and 4% respectively while the broader
market indices have seen sharper underperformance with BSE Midcap and Smallcap indices losing 10.4% and 11.6% respectively. With this
weaker market performance through the first quarter of the calendar year, the valuation multiples for the market indices (P/E basis) have
moderated from the recent highs and is now trading closer to long term averages.
01
Global factors had a larger role to play in the recent subdued equity market performance with India’s performance broadly mirroring that of the
weak trends seen for global equity indices especially since the rise of protectionism concerns. Domestically, we are witnessing a phase of
improving macro variables coupled with an optimistic outlook on the corporate earnings recovery path going forward. On the other hand,
markets seem worried on a relative weakening of a decisive political narrative due to electoral reversals for the ruling party at the centre in the
recent by-polls. Though the BJP led NDA managed to win the North Eastern state elections, it was the losses in the by-polls held for seats in
UP and Bihar that could make the investors anxious. A long standing ally of the NDA, the Telugu Desam Party (TDP) also decided to quit the
government just after the by-poll losses citing an issue. With general elections only about a year away and also given that the rest of 2018
narrative will be dominated by state assembly elections, there may be concerns on the extent of legislative actions that the government can
undertake in the interim. Moreover, the budget session of parliament has been a wash-out so far, owing to disruptions by opposition parties.
Looking ahead, we see a continuation of the macro economic recovery with resultant positive impact on the earnings growth trajectory of
corporate India. On the policy front, we again expect an incremental approach while bigger reforms may be missing from the agenda owing to
the election calendar.
The other factors to closely track would be the 4QFY18 earnings season trends, Karnataka state elections, global crude price dynamics,
rising trends of protectionism in the developed economies and the interest rate actions in the US.
We remain constructive on the India story from a medium to long term perspective. For investors with a long term investment horizon, equity
investments provide the potential to deliver relatively better returns vis-à-vis other alternatives and also can act as an avenue for long term
wealth creation. Therefore, we continue to urge investors to approach equity investing from a long term perspective and always keep the
asset allocation plan in mind, taking into account one’s risk appetite and future goals in mind.
RBI's Monetary Policy, Economic Indicators
Issuance Calendar
Government announced its borrowing calendar for the first half of FY19 indicating that they would borrow INR 2.88 trillion on a gross basis in
1H which represents about 50% of the total borrowing versus 65% in the past. Alongside they also announced smoothening out the maturity
buckets by issuance in the 1 - 4 year segment and reducing issuance in the 10 - 14 year by 23% and distributing the same across maturities.
Also, up to 10% of the total issuance is expected from Inflation Indexed Bonds and Floating Rate bonds. Government also announced
reduced buyback of INR 250 bn for FY19 and increased its borrowing from small savings by similar amount. Overall, reduction in buyback,
smoothening out of maturities and reduction in supply in the belly segment (10 - 14 year) has been a significant positive for the market which
had been nervous on account of supply.
GST
GST collections for the month of Feb 2018 was reported at INR 851.7 bn which was flat as compared to Jan 2018, representing 69% of
the total tax payers. Out of this INR 149 bn is CGST, INR 205 bn is SGST and INR 425 bn is IGST. Overall while collections are flat, the
expectation is that with e-way bill implementation and better compliance, collections will improve.
Inflation
Consumer Price Index or CPI
CPI inflation for the month of Feb-18 was 4.4% from 5.07% in Jan 2018, lower than market expectations. This was driven mainly by a
decrease in food inflation to 3.34% in February v/s 4.61 % in January driven by a sharp sequential fall in vegetable prices. The fall in
vegetable prices has continued to persist in the month of March as well till date. Core inflation continued to remain sticky at 5.2%, however
sequential increase in core inflation tapered down possibly on effects of pass through in cuts in GST rates to end consumer. Wholesale Price
Index or WPI inflation declined to 2.48% in February v/s 2.84% in January. The fall in inflation was led again by food inflation, mirroring trends
in CPI inflation.
CPI Inflation (%)
7%
6%
Inflation Growth (%)
5%
4%
3%
2%
1%
0
Jun-15
Jun-16
Jun-17
Feb-16
Feb-17
Feb-18
Oct-15
Oct-16
Oct-17
Jan-15
Consumer Price Index (CPI)
Source: Bloomberg; Central Statistical Organization (CSO) India
Index of Industrial Production or IIP

For the third consecutive month, India’s industrial production growth rise strongly (in over the last two years), posting a print of 7.5% YoY in
Jan vis-à-vis 7.1% in Dec-17 This was due to a combination of favourable base effects owing to after effects of demonetization in the previous
year as well as industrial activity momentum picking up. Robust growth was seen across categories with consumer non-durables grew at
10.5% y-o-y and capital goods by 14% y-o-y.
02
Index of Industrial Production (IIP)* new series data

14%
9%
Growth %
4%
-1%
Jan/14
Mar/14
May/14
Jul/14
Sep/14
Nov/14
Feb/13
May/13
Jul/13
Sep/13
Nov/13
Jan/16
Mar/16
May/16
Jul/16
Sep/16
Nov/16
Jan/17
Mar/17
May/17
Jul/17
Sep/17
Nov/17
Jan/18
Jan/15
Mar/15
May/15
Jul/15
Sep/15
Nov/15
-6%
IIP YoY Growth in % (New Series; base 2011- 12)
Source: Bloomberg
Trade deficit
India February trade deficit came in at USD 12 bn v/s USD 16 bn in January. This was mainly driven by a fall in imports. Export growth continued to be
muted at 4.5% v/s 9.1% in January while imports growth dropped to about 10% from 26% in January. Non-oil non-gold imports also dropped
sequentially with lower imports of metal ores, gems and jewellery and transport equipment.
Oil
Oil prices have been volatile in the month of March reaching lows of USD 64 / barrel from highs of USD 68/ barrel. The decline driven by news around
increasing US production. However the decline was quickly reversed with oil heading back towards USD 67-68 mark driven by global tensions in the
middle eastern region. This is despite, news around potential increase in oil production from the US.
Currency
INR spot witnessed activity and depreciated to levels breaching 65 to USD particularly in the second half of the month towards the close of the month.
The positive equity FII flows have been offset by negative FII flows. The rupee weakness has been largely driven due to the spike in oil prices towards
the end of the month.
Markets
Bearish sentiments continued for the entire month except the last week post the announcement of Government borrowing calendar for 1HFY19. The
relief was largely due to reduced supply in the belly i.e. 10 – 14 years and smoothening of maturities across the yield curve. Bond yields have rallied by
30bps post this announcement. In addition, RBI has allowed banks to spread 2HFY18 treasury losses in 4 quarters. This measure has been an
additional welcome relief to bankers.
Going into April as supply resumes, there are maturities of about INR 600 bn which should keep the market steady in the near term.
RBI’s 1st Bi-monthly policy was positive for the markets as the central bank lowered its inflation expectation trajectory. This bodes well for bonds in
short term and long term as it alleviates the fears of an imminent rate hike.
Corporate bond issuance picked up in March, with the issuances been absorbed by large investors.
State Developed Loans or SDL auction spreads have been in the range of 50 - 65 bps in due to ongoing supply.
Liquidity
Liquidity saw some easing in Mid-march post Market Stabilisation Scheme or MSS redemption of INR 1000 bn. Additionally RBI also provided INR
1000 bn worth of Special Repo auctions to support year end liquidity requirements.
Going Forward
With the supply concerns largely out of the way and RBI is likely to remain on hold, market will likely remain stable in the near term. 10 year yield is
expected to trade in a range of 7% - 7.3% depending on global cues around oil and rates. Furthermore, with expectation that GST collections will
improve, fiscal condition should remain in order.
10% Repo Rate Movement
9%
Rate %
8%
7%
6%
5%
4%
May/11
Oct/11
Mar/12
Aug/12
Jan/10
Jul/10
Dec/10
Apr/14
Sep/14
Jan/13
Jun/13
Nov/13
May/16
Oct/16
Apr/17
Sep/17
Mar/18
Feb/15
Jul/15
Dec/15
Repo Rate
Source: Bloomberg, for all data except where mentioned otherwise
03
Sectors HSBC HSBC

Large Cap Multi Cap
Equity Fund # Equity Fund #
Consumer Discretionary
Consumer Staples
Energy
Financials
Healthcare
Industrials
Information Technology
Materials
Telecommunication
Utilities
Overweight Underweight Neutral
#The benchmark for HSBC Large Cap Equity Fund and HSBC Multi Cap Equity Fund have changed w.e.f. 11th November, 2016 as a more suitable
benchmark was identified which better matched the portfolio strategy.
Due to non-availability of the data for the S&P BSE 250 Small Cap Index attribution analysis for HSBC Small Cap Equity Fund is not incorporated.
Review: HSBC Large Cap Equity Fund

Positive Contributors
Industrials - being overweight & certain stock (s) selection helped performance
Information Technology, Consumer Discretionary & Utilities – certain stock (s) selection helped performance
Energy & Healthcare – being underweight & certain stock (s) selection helped performance
Negative Contributors
Consumer Staples - being underweight & certain stock (s) selection hurt performance
Materials - being overweight & certain stock (s) selection hurt performance
Review: HSBC Multi Cap Equity Fund

Positive Contributors
Industrials & Information Technology – certain stock (s) selection helped performance
Energy & Healthcare – being underweight helped performance
Negative Contributors
Consumer Staples - being underweight & certain stock (s) selection hurt performance
Telecommunication – being overweight & certain stock (s) selection hurt performance
Materials – being overweight hurt performance
Review: HSBC Dynamic Asset Allocation Fund

The cash levels and sector allocation in the fund are likely to change depending on the market conditions and technical factors.
Review: HSBC Regular Savings Fund

Our current exposure is 24.71% in HSBC Regular Savings Fund. Currently it is more biased towards large caps than mid or small caps.
04
HSBC Mutual Fund Products
Pursuant to the circular issued by Securities and Exchange Board of India(SEBI) on ‘Categorization and Rationalization of Mutual Fund Schemes’in
order to bring uniformity in the practice and standardize the scheme categories across the Mutual Funds, placed below is the HSBC Mutual Fund’s product
spectrum, effective from 14th March,2018.
Equity Schemes
Scheme
Scheme Type Benchmark Category Benchmark
HSBC Large Cap Equity Fund Large Cap Fund – An open ended equity Large Cap Fund Nifty 50
(Previous Name - HSBC Equity Fund) scheme predominantly investing in largecap (Previous Category - Large cap equity scheme)
stocks.
HSBC Small Cap Equity Fund Small Cap Fund - An open ended equity scheme Small Cap Fund S&P BSE 250 Small Cap Index
(Previous Name - HSBC Midcap predominantly investing in small cap stocks (Previous Category - Mid-cap Equity Scheme) (Previous Benchmark - S&P BSE Midcap Index)
Equity Fund)
HSBC Multi Cap Equity Fund Multi Cap Fund - An open ended equity Multi cap Fund S&P BSE 200
(Previous Name - HSBC India scheme investing across large cap, mid cap, (Previous Category - Flexi-Cap Equity Scheme)
Opportunities Fund) small cap stocks
HSBC Tax Saver Equity Fund An open ended equity linked saving scheme Equity Linked Savings Scheme S&P BSE 200
with a statutory lock-in of 3 years and tax benefit
HSBC Infrastructure Equity Fund An open ended equity scheme following Thematic Fund S&P BSE India Infrastructure Index
Infrastructure theme. (Previous Category - Equity Scheme)
HSBC Global Emerging Markets Fund An open ended fund of fund scheme investing in Fund of Funds (Overseas) MSCI Emerging Markets Index
(Previous Name - HSBC Emerging HSBC Global Investment Funds - Global (Previous Category - Fund of Funds)
Markets Fund) Emerging Markets Equity Fund
HSBC Asia Pacific (Ex Japan) An Open Ended Fund of Funds Scheme investing Fund of Funds (Overseas) MSCI AC Asia Pacific ex Japan
Dividend Yield Fund in HSBC Global Investments Fund - (HGIF) (Previous Category - Fund of Funds)
Asia Pacific Ex Japan Equity High Dividend Fund
HSBC Brazil Fund An Open-Ended Fund of Funds Scheme Fund of Funds (Overseas) MSCI Brazil 10/40 Index
investing in HSBC Global InvestmentsFund (Previous Category - Fund of Funds)
- (HGIF) Brazil Equity Fund
HSBC Global Consumer An Open Ended Fund of Funds Schemeinvesting Fund of Funds (Overseas) MSCI AC World Index
Opportunities Fund HSBC Global Investment Funds (HGIF) China (Previous Category - Fund of Funds)
Consumer Opportunities Fund
Debt Schemes
HSBC Regular Savings Fund An open ended Hybrid Scheme investing Conservative Hybrid Fund CRISIL Hybrid 85+15 - Conservative Index^£#
(Previous Name - HSBC Monthly predominantly in debt instruments. (Previous category - Income Scheme) (renamed from existing MIP Blended Fund
Income Plan)# Index)
HSBC Debt Fund An open ended Medium to Long Term Debt Medium to Long Duration Fund CRISIL Composite Bond Fund Index
(Previous Name - HSBC Income Fund Scheme investing
^^
in instruments such that the (Previous category - Income Scheme)
Macaulay duration of the portfolio is between
- Investment Plan)
4 years to 7 years.
HSBC Short Duration Fund An open ended Short Term Debt Scheme Short Duration Fund CRISIL Short Term Bond Fund Index
^^
(Previous Name - HSBC Income Fund investing in instruments such that the Macaulay (Previous category - Short Term Plan)
- Short Term Plan) duration of the portfolio is between 1 year to
3 years.
HSBC Cash Fund An Open Ended Liquid Scheme Liquid Fund CRISIL Liquid Fund Index
HSBC Low Duration Fund An open ended Low Duration Debt Scheme Low Duration Fund ^£
CRISIL Low Duration Debt Index (Previously
(Previous Name - HSBC Ultra Short investing in instruments such that the Macaulay^^ (Previous category - Debt Fund) named as CRISIL Ultra Short Term Debt Index)
Term Bond Fund) duration of the portfolio is between 6 months to (Previous benchmark CRISIL Liquid Fund Index
12 months. - 90%, CRISLIL Short Term Bond Fund Index
HSBC Flexi Debt Fund An open ended Dynamic Debt Scheme Dynamic Bond Fund CRISIL Composite Bond Fund Index
investing across duration (Previous category - An open - ended Debt
Scheme)
Hybrid Scheme
HSBC Dynamic Asset Allocation Fund An open ended Dynamic Asset Allocation Fund. Dynamic Asset Allocation S&P BSE 200
(Previous Name - HSBC Dynamic Fund) (Previous Category - Dynamic Equity Scheme)
Other Schemes
HSBC Managed Solutions India - An Open Ended Fund of Funds Scheme Fund of Funds (Overseas/Domestic) Composite Index constituting 80% of
Growth investing in a basket of equity, debt, Gold and S&P BSE 200 Index and 20% of CRISIL
other Exchange Traded Funds Composite Bond Index.
HSBC Managed Solutions India - An Open Ended Fund of Funds Scheme Fund of Funds (Overseas/Domestic) CRISIL Hybrid 35+65 - Aggressive Index^£
Moderate investing in a basket of equity, debt, Gold and (renamed from existing CRISIL Balanced
other Exchange Traded Funds Fund Aggressive Index)
HSBC Managed Solutions India - An Open Ended Fund of Funds Scheme Fund of Funds (Overseas/Domestic) Composite Index constituting of 90% of
Conservative investing in a basket of equity, debt, Gold and CRISIL Composite Bond Index and 10%
other Exchange Traded Funds of S&P BSE 200 Index.
^Debt Allocation of 85% and 35% in respective indices represented by CRISIL Composite Bond Index.
£ The equity component of the Index has been changed from Nifty 50 to S&P BSE - 200 and will be represented by Total Return variant of S&P BSE - 200.
# Monthly income is not assured and is subject to the availability of distributable surplus.
^^The Macaulay duration is the weighted average term to maturity of the cash flows from a bond. The weight of each cash flow is determined by dividing the present value of the
cash flow by the price.
Criteria for Large, Mid & Small companies -
SEBI has demarcated the definitions of large cap, mid cap and small cap companies as given below.
Large Cap: 1st -100th company in terms of full market capitalization, Mid Cap: 101st -250th company in terms of full market capitalization, Small Cap: 251st company onwards in terms of full
market capitalization of large/mid/small cap companies
Note - A list of stocks as per above criteria will be uploaded on AMFI website and updated every six months by AMFI.
05
HSBC Large Cap Equity Fund
Large Cap Fund - An open ended equity scheme predominantly investing in large cap stocks.
Investment Objective: To generate long-term capital growth from an actively managed portfolio of equity and equity related securities of
predominantly large cap companies.However, there can be no assurance or guarantee that the investment objective of the scheme would be
achieved.
FUND DETAILS FUND PORTFOLIO

Market Value % to Net
Date of Allotment 10-Dec-02 Issuer (` in Lacs) Assets
Benchmark$ Nifty 50 Auto
NAV (Growth) per unit `193.2680
Maruti Suzuki India 2,658.33 4.10%
(as on 28.03.18)
Monthly Average AUM 65,457.31 Mahindra & Mahindra 2,216.70 3.42%
(In Lakhs) Auto Ancillaries
Fund Manager Neelotpal Sahai Motherson Sumi Systems 932.85 1.44%
SIP Available MRF 725.13 1.12%
Minimum `10,000 (Lumpsum)
Application Amount Banks
`1,000 p.m.(SIP)
Exit Load@ In respect of each purchase HDFC Bank 6,412.74 9.89%
/switch-in of Units, an Exit Load ICICI Bank 3,757.73 5.80%
of 1% is payable if Units are
redeemed / switched-out within Yes Bank 3,353.35 5.17%
1 year from the date of
allotment. IndusInd Bank 2,695.13 4.16%
No Exit Load will be charged if Kotak Mahindra Bank 2,357.55 3.64%
Units are redeemed/ switched
Axis Bank 2,042.00 3.15%
- out after 1 year from the date
of allotment. Cement
Statistical Ratios Shree Cement 1,295.72 2.00%
Standard Deviation 4.36% Construction Project
Beta (Slope) 1.0305
Sharpe Ratio** Larsen & Toubro 4,588.15 7.08%
-0.0299
Consumer Non Durables
Weighted Average Monthly Total Expenses ratios
(Annualized) ITC 3,577.00 5.52%
Regular 2.37% Britannia Industries 994.12 1.53%
Direct Plan 1.60% Ferrous Metals
Excludes GST on Investment Management fees of 0.26% of
Total Net Assets. Tata Steel 1,855.91 2.86%
Portfolio Turnover 0.88 Finance
HDFC 3,651.20 5.63%
Statistical ratios disclosed as per monthly returns (absolute) for
the last 3 years. Indiabulls Housing Finance 1,855.88 2.86%
$The benchmark was changed w.e.f. 11th November, 2016 as a Non - Ferrous Metals
more suitable benchmark was identified which better matched
the portfolio strategy. There has been no change to investment Vedanta 2,500.65 3.86%
management of the scheme. Oil
@ Effective from March 14, 2018 for prospective investments. Oil & Natural Gas Corporation 889.00 1.37%
**Risk free rate: 9.39% (FIMMDA-NSE Mibor) as on Mar 28, Petroleum Products
2018)
Reliance Industries 3,530.80 5.45%
Asset Allocation Pharmaceuticals
Aurobindo Pharma 836.78 1.29%
Auto 7.52% Power
Auto Ancillaries 2.56%
NTPC 1,272.75 1.96%
Banks 31.81%
Cement 2.00% Software
Construction Project 7.08% Infosys 4,527.20 6.98%
Consumer Non Durables 7.05% HCL Technologies 1,937.20 2.99%
Ferrous Metals 2.86%
Tata Consultancy Services 1,424.58 2.20%
Finance 8.49%
Non - Ferrous Metals 3.86% Telecom - Services
Oil 1.37% Bharti Airtel 1,395.45 2.15%
Petroleum Products 5.45% Other Equity Investments 473.55 0.73%
Pharmaceuticals 1.29%
Cash Equivalents
Power 1.96%
Software 12.17% Reverse Repos 1,305.48 2.01%
Telecom - Services 2.15% CBLO 2.54 0.00%
Other Equity Investments 0.73% Net Current Assets -241.73 -0.37%
Reverse Repos/CBLOs 2.02% Total Net Assets as on 31-Mar-2018 64,823.71 100.00%
Net Current Assets -0.37%
Total Net Assets 100.00%
Dividend Declaration
Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
HSBC Large Cap Equity Fund
of dividend declared Non-Institutional Institutional (cum dividend)
Riskometer HSBC Large Cap Equity Fund - Dividend
This product is suitable for Moderate
t el y
Mo 10-Nov-15 3.70000 3.70000 29.4046
investors who are seeking*: era
d
Higerat
odLow h e 02-Nov-16 3.00000 3.00000 30.0022
M
• To create wealth over long

ly
28-Dec-17 3.50000 3.50000 33.2519

term HSBC Large Cap Equity Fund - Dividend - Direct Plan
Low
High
• Investment in predominantly 10-Nov-15 3.70000 3.70000 30.0806

large cap equity and equity LOW HIGH 02-Nov-16 3.00000 3.00000 31.0071
related securities Investors understand that their principal 28-Dec-17 3.50000 3.50000 34.7739
will be at Moderately High risk
* Investors should consult their financial advisers if in doubt about Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit.
whether the product is suitable for them.
06
HSBC Multi Cap Equity Fund
Multi Cap Fund - An open ended equity scheme Investing across large cap, mid cap, small cap stocks.
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. However, there can be no assurance or guarantee that the investment objective of the scheme
would be achieved.
Date of Allotment 24-Feb-04 Issuer Market Value % to Net
$
(` in Lacs) Assets
Benchmark S&P BSE 200 Auto
NAV (Growth) per unit `84.7629 Tata Motors 1,634.25 2.73%
(as on 28.03.18) Mahindra & Mahindra 1,477.80 2.47%
Monthly Average AUM 60,199.44 Eicher Motors 1,418.63 2.37%
(In Lakhs) Maruti Suzuki India 1,329.17 2.22%
Fund Manager Auto Ancillaries
Neelotpal Sahai Balkrishna Industries 641.19 1.07%
SIP Available Banks
Minimum `10,000 (Lumpsum) HDFC Bank 5,941.22 9.94%
Application Amount `1,000 p.m.(SIP) ICICI Bank 3,757.73 6.29%
@
Exit Load In respect of each purchase Yes Bank 3,048.50 5.10%
/switch-in of Units, an Exit Load Axis Bank 1,531.50 2.56%
of 1% is payable if Units are Cement
redeemed / switched-out within Dalmia Bharat 1,293.37 2.16%
1 year from the date of JK Cement 609.03 1.02%
allotment. Chemicals
No Exit Load will be charged if Vinati Organics 676.91 1.13%
Units are redeemed/ switched - Construction
out after 1 year from the date of Gayatri Projects 1,205.40 2.02%
allotment.
Statistical Ratios Ahluwalia Contracts (India) 639.03 1.07%
Standard Deviation 4.75% Construction Project
Beta (Slope) 1.0835 Larsen & Toubro 2,621.80 4.39%
Sharpe Ratio** -0.0068 Consumer Non Durables
Weighted Average Monthly Total Expenses ratios ITC 1,788.50 2.99%
(Annualized) Ferrous Metals
Regular 2.43% Tata Steel 1,518.99 2.54%
Direct Plan 1.62% Jindal Steel & Power 657.30 1.10%
Excludes GST on Investment Management fees of 0.18% of Total Srikalahasthi Pipes 643.90 1.08%
Net Assets.
Finance
Portfolio Turnover 0.48 Bharat Financial Inclusion 3,290.55 5.50%
Statistical ratios disclosed as per monthly returns (absolute) for Bajaj Finance 2,651.33 4.44%
the last 3 years.
Cholamandalam Investment & Fin Co. 725.23 1.21%
$The benchmark was changed w.e.f. 11th November, 2016 as a
more suitable benchmark was identified which better matched Hotels, Resorts And Other Recreational Activities
the portfolio strategy. There has been no change to investment Indian Hotels Co. 647.00 1.08%
management of the scheme. Industrial Capital Goods
@Effective from March 14, 2018 for prospective investments. Sanghvi Movers 693.80 1.16%
**Risk free rate: 9.39% (FIMMDA-NSE Mibor) as on Mar 28,
Industrial Products
2018)
Supreme Industries 1,014.94 1.70%
Asset Allocation Non - Ferrous Metals
Vedanta 2,083.88 3.49%
Auto 9.79% Pesticides
Auto Ancillaries 1.07% UPL 657.23 1.10%
Banks 23.89% Petroleum Products
Cement 3.18%
Reliance Industries 2,206.75 3.69%
Chemicals 1.13%
Pharmaceuticals
Construction 3.09%
Construction Project 4.39% Aurobindo Pharma 836.78 1.40%
Consumer Non Durables 2.99% Software
Ferrous Metals 4.72% Infosys 2,546.55 4.26%
Finance 11.15% HCL Technologies 1,452.90 2.43%
Hotels, ResortsAnd Other RecreationalActivities 1.08% Telecom - Services
Industrial Capital Goods 1.16% Bharti Airtel 598.05 1.00%
Industrial Products 1.70% Textile Products
Non - Ferrous Metals 3.49% Arvind 670.16 1.12%
Pesticides 1.10% Other Equity Investments 6,343.26 10.62%
Petroleum Products 3.69%
Cash Equivalents
Software 6.69% Reverse Repos 946.18 1.58%
Telecom - Services 1.00% CBLO 1.84 0.00%
Textile Products 1.12% Net Current Assets -23.90 -0.04%
Other Equity Investments 10.62% Total Net Assets as on 31-Mar-2018 59,776.73 100.00%
Reverse Repos/CBLOs 1.59%
Net Current Assets -0.04% Dividend Declaration
Total Net Assets 100.00% Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
HSBC Multi Cap Equity Fund HSBC Multi Cap Equity Fund - Dividend
Riskometer 10-Nov-15 1.50000 1.50000 21.8624
This product is suitable for 24-Mar-17 1.50000 1.50000 25.8408
Moderate Mo
investors who are seeking*: t el y d 27-Feb-18 2.25000 2.25000 28.2124
era Higerat
odLow h e
• To create wealth over long HSBC Multi Cap Equity Fund - Dividend Direct Plan
M
ly
term 10-Nov-15 1.50000 1.50000 23.4738

Low
High
24-Mar-17 1.50000 1.50000 28.1677

• Invests in equity and equity
27-Feb-18 2.25000 2.25000 31.1273
related securities across LOW HIGH
market capitalisations Investors understand that their principal Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit.
* Investors should consult their financial advisers if in doubt about
whether the product is suitable for them. 07
HSBC Small Cap Equity Fund
Small Cap Fund - An open ended equity scheme predominantly investing in small cap stocks.
Investment Objective: To generate long term capital growth from an actively managed portfolio of equity and equity related securities of predominantly small
cap companies. However, it could move a portion of its assets towards fixed income securities if the fund manager becomes negative on the Indian equity
markets. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Date of Allotment 19-May-05 Issuer (` in Lacs) Assets
Benchmark S&P BSE 250 Small Cap Index Auto
NAV (Growth) per unit `57.8783 VST Tillers Tractors 2,152.83 3.54%
(as on 28.03.18) Auto Ancillaries
Monthly Average AUM Apollo Tyres 2,119.43 3.49%
61,599.37 Cement
(In Lakhs)
Deccan Cements 2,236.37 3.68%
Fund Manager Dhiraj Sachdev Chemicals
SIP Available Balaji Amines 2,767.22 4.55%
Minimum `10,000 (Lumpsum) Vinati Organics 2,492.60 4.10%
Application Amount `1,000 p.m.(SIP) GOCL Corporation 1,708.01 2.81%
Exit Load
@ Navin Fluorine International 1,064.29 1.75%
In respect of each purchase
Construction
/switch-in of Units, an Exit Load
Indiabulls Real Estate 997.98 1.64%
IRB Infrastructure Developers 892.00 1.47%
redeemed / switched-out within
Ahluwalia Contracts (India) 644.05 1.06%
1 year from the date of allotment.
Construction Project
No Exit Load will be charged if
Kridhan Infra 914.18 1.50%
Units are redeemed/ switched -
out after 1 year from the date of Consumer Non Durables
allotment. Kaveri Seed Company 1,870.76 3.08%
Apex Frozen Foods 1,825.92 3.00%
Statistical Ratios
CCL Products (India) 1,558.21 2.56%
Standard Deviation 6.00%
Ferrous Metals
Beta (Slope) 1.1453
Srikalahasthi Pipes 2,157.92 3.55%
Sharpe Ratio** 0.0959 Jindal Steel & Power 832.58 1.37%
Finance
(Annualized) Indiabulls Housing Finance 2,715.76 4.47%
Manappuram Finance 2,356.57 3.88%
Regular 2.41% Motilal Oswal Financial Services 1,788.99 2.94%
Direct Plan 1.62% Dewan Housing Finance Corporation 1,693.70 2.79%
Excludes GST on Investment Management fees of 0.18% of Cholamandalam Investment & Fin Co. 1,535.74 2.53%
Total Net Assets. Muthoot Finance 1,377.18 2.27%
Portfolio Turnover 0.36 JM Financial 1,133.44 1.86%
Reliance Capital 1,100.58 1.81%
Industrial Capital Goods
the last 3 years.
@ Effective from March 14, 2018 for prospective investments. Sanghvi Movers 1,141.22 1.88%
**Risk free rate: 9.39% (FIMMDA-NSE Mibor) as on Mar 28, Industrial Products
2018) Graphite India 1,706.34 2.81%
Ramkrishna Forgings 1,375.02 2.26%
Asset Allocation CMI 706.69 1.16%
Jain Irrigation Systems 617.41 1.02%
Auto 3.54% Media & Entertainment
Auto Ancillaries 3.49% Jagran Prakashan 1,854.04 3.05%
Cement 3.68% Minerals/Mining
Chemicals 13.21% Gujarat Mineral Development Corporation 1,975.43 3.25%
Construction 4.17% Oil
Construction Project 1.50% South West Pinnacle Exploration 821.25 1.35%
Consumer Non Durables 8.64% Petroleum Products
Ferrous Metals 4.92% Hindustan Petroleum Corporation 1,034.55 1.70%
Finance 22.55% Pharmaceuticals
Industrial Capital Goods 1.88% Aurobindo Pharma 806.73 1.33%
Industrial Products 7.25% Power
Media & Entertainment 3.05% Kalpataru Power Transmission 1,112.96 1.83%
Minerals/Mining 3.25% Software
Oil 1.35% Sonata Software 1,793.49 2.95%
Petroleum Products 1.70% One Point One Solutions 649.98 1.07%
Pharmaceuticals 1.33% Textiles - Synthetic
Power 1.83% Sarla Performance Fibers 761.26 1.25%
Software 4.02% Other Equity Investments 4,089.95 6.73%
Textiles - Synthetic 1.25% Cash Equivalents
Other Equity Investments 6.73% Reverse Repos 723.26 1.19%
Reverse Repos/CBLOs 1.19% CBLO 1.41 0.00%
Net Current Assets -0.53% Net Current Assets -305.62 -0.53%
Total Net Assets 100.00% Total Net Assets as on 31-Mar-2018 60,801.66 100.00%
HSBC Small Cap Equity Fund
Riskometer
This product is suitable for Moderate Mo Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
t el y d
odLow
Higerat
h e
M
ly
HSBC Small Cap Equity Fund - Dividend

term 19-Nov-10 2.00 2.00 15.4864
Low
High
• Investment in predominantly 10-Nov-15 2.50 2.50 20.1838

small cap equity and equity LOW HIGH 02-Nov-16 1.75 1.75 21.5706
related securities Investors understand that their principal HSBC Small Cap Equity Fund - Dividend - Direct Plan
will be at Moderately High risk 02-Nov-16 1.75 1.75 25.3345
* Investors should consult their financial advisers if in doubt about 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
HSBC Infrastructure Equity Fund
An open ended equity scheme following Infrastructure theme
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.
However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Date of Allotment 23-Feb-06 Issuer (` in Lacs) Assets
Benchmark$ S&P BSE India Infrastructure Index Banks
NAV (Growth) per unit `22.9653 Karnataka Bank 284.38 1.74%
(as on 28.03.18) Cement
Monthly Average AUM 16,741.96 Deccan Cements 852.14 5.22%
(In Lakhs)
Chemicals
Fund Manager Dhiraj Sachdev GOCL Corporation 723.03 4.43%
SIP Available Construction
Minimum `10,000 (Lumpsum) KNR Constructions 566.13 3.47%
Application Amount `1,000 p.m.(SIP) IRB Infrastructure Developers 490.60 3.00%
Exit Load@ In respect of each purchase /switch- Ahluwalia Contracts (India) 466.32 2.85%
in of Units, an Exit Load of 1% is
payable if Units are redeemed / Indiabulls Real Estate 381.05 2.33%
switched-out within 1 year from the NBCC India 271.71 1.66%
date of allotment. Construction Project
No Exit Load will be charged if Units Kridhan Infra 600.76 3.68%
are redeemed/ switched - out after 1
HG Infra Engineering 302.29 1.85%
year from the date of allotment.
Larsen & Toubro 196.64 1.20%
Statistical Ratios
5.84% Ferrous Metals
Standard Deviation
Beta (Slope) 1.0844 Srikalahasthi Pipes 1,114.55 6.82%
Sharpe Ratio** -0.0104 Jindal Saw 659.06 4.03%
Jindal Steel & Power 416.29 2.55%
(Annualized) Finance
Regular 2.51% Rural Electrification Corporation 298.03 1.82%
Direct Plan 1.81% Gas

Excludes GST on Investment Management fees of 0.34% of Total Gujarat State Petronet 333.52 2.04%
Net Assets. Industrial Capital Goods
Portfolio Turnover 0.39 Sanghvi Movers 717.49 4.39%
Statistical ratios disclosed as per monthly returns (absolute) for Voltamp Transformers 589.19 3.61%
the last 3 years. Macpower CNC Machines 262.50 1.61%
$The benchmark was changed w.e.f. 11th November, 2016 as a Industrial Products
more suitable benchmark was identified which better matched
the portfolio strategy. There has been no change to investment KEI Industries 870.21 5.33%
management of the scheme. CMI 545.32 3.34%
@ Effective from March 14, 2018 for prospective investments.
Graphite India 406.62 2.49%
2018) Schaeffler India 305.36 1.87%
Minerals/Mining
Asset Allocation Gujarat Mineral Development Corporation 1,114.36 6.82%
Banks 1.74% Oil
Cement 5.22% South West Pinnacle Exploration 203.39 1.24%
Chemicals 4.43% Petroleum Products
Construction 13.31% Indian Oil Corporation 651.30 3.99%
Construction Project 6.73%
Hindustan Petroleum Corporation 621.59 3.80%
Finance 1.82% Power
Gas 2.04% PTC India 337.26 2.06%
Industrial Capital Goods 9.61% KSK Energy Ventures 303.92 1.86%
Industrial Products 13.03%
Reliance Infrastructure 173.14 1.06%
Minerals/Mining 6.82%
Oil 1.24% Transportation
Petroleum Products 7.79% Adani Ports & Special Economic Zone 591.35 3.62%
Power 4.98% Other Equity Investments 359.89 2.20%
Transportation 3.62% Cash Equivalents
Other Equity Investments 2.20%
Reverse Repos 319.69 1.96%
Net Current Assets 0.06% CBLO 0.62 0.00%
Total Net Assets 100.00% Net Current Assets 8.62 0.06%
Total Net Assets as on 31-Mar-2018 16,338.31 100.00%
HSBC Infrastructure Equity Fund
This product is suitable for Riskometer Dividend Declaration

investors who are seeking*: Moderate Mo Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
t el y d
• To create wealth over long era Higerat of dividend declared Non-Institutional Institutional (cum dividend)
odLow h e
term
M
ly
HSBC Infrastructure Equity Fund Dividend

• Invests in equity and equity 11-May-07 1.00 1.00 12.2390
Low
High
related securities, primarily in 26-May-08 1.00 1.00 13.7160

themes that play an important LOW HIGH
role in India's economic Investors understand that their principal
development will be at High risk 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
HSBC Tax Saver Equity Fund
An Open Ended Equity Linked Savings Scheme with a statutory lock - in of 3 years and tax benefit.
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. However, there can be no assurance or
guarantee that the investment objective of the scheme would be achieved.

Date of Allotment 05-Jan-07 Issuer (` in Lacs) Assets
NAV (Growth) per unit `36.2877 Maruti Suzuki India 893.46 5.29%
(as on 28.03.18) Mahindra & Mahindra 413.78 2.45%
Monthly Average AUM 17,168.58 Auto Ancillaries
(In Lakhs) MRF 500.34 2.96%
Exide Industries 334.28 1.98%
Fund Manager Aditya Khemani
Amara Raja Batteries 298.13 1.76%
SIP Available Banks
Minimum `500 HDFC Bank 1,593.75 9.43%
Application Amount (Lumpsum & SIP) ICICI Bank 1,415.27 8.37%
Exit Load Nil IndusInd Bank 952.28 5.63%
Axis Bank 459.45 2.72%
Statistical Ratios
4.60% Federal Bank 456.81 2.70%
Standard Deviation DCB Bank 344.10 2.04%
Beta (Slope) 1.0126
Cement
Sharpe Ratio** 0.0142 NCL Industries 688.01 4.07%
OCL India 493.64 2.92%
Weighted Average Monthly Total Expenses ratios Chemicals
(Annualized) Galaxy Surfactants 389.94 2.31%
Regular 2.42% Construction
Somany Ceramics 492.75 2.91%
Direct Plan 1.69%
Construction Project
Excludes GST on Investment Management fees of 0.29% of Total Larsen & Toubro 642.34 3.80%
Net Assets.
Consumer Durables
Portfolio Turnover 0.49 Crompton Greaves Consumer Electrical 355.13 2.10%
Blue Star 169.16 1.00%
Consumer Non Durables
the last 3 years.
**Risk free rate: 9.39% (FIMMDA-NSE Mibor) as on Mar 28, ITC 372.77 2.21%
2018) United Spirits 366.17 2.17%
Heritage Foods 353.97 2.09%
Balrampur Chini Mills 174.00 1.03%
Finance
Cholamandalam Investment & Fin Co. 449.64 2.66%
Asset Allocation
JM Financial 293.46 1.74%
Auto 7.74% Industrial Products
Auto Ancillaries 6.70% Nilkamal 408.32 2.42%
Banks 30.89% Finolex Cables 352.35 2.08%
Cement 6.99% Non - Ferrous Metals
Chemicals 2.31% Vedanta 444.56 2.63%
Construction 2.91% Petroleum Products
Construction Project 3.80% Reliance Industries 348.67 2.06%
Consumer Durables 3.10% Pharmaceuticals
Consumer Non Durables 7.50% Torrent Pharmaceuticals 331.18 1.96%
Finance 4.40% Sun Pharmaceutical Industries 221.31 1.31%
Industrial Products 4.50% Software
Non - Ferrous Metals 2.63% Infosys 635.18 3.76%
Petroleum Products 2.06% Telecom - Services
Pharmaceuticals 3.27% Bharti Airtel 322.95 1.91%
Software 3.76% Textile Products
Telecom - Services 1.91% Indian Terrain Fashions 245.10 1.45%
Textile Products 1.45% Textiles - Cotton
Textiles - Cotton 1.27% Indo Count Industries 214.20 1.27%
Transportation 2.25% Transportation
Other Equity Investments 0.14% Interglobe Aviation 380.68 2.25%
Reverse Repos/CBLOs 0.98% Other Equity Investments 24.07 0.14%
Net Current Assets -0.56% Cash Equivalents
Total Net Assets 100.00% Reverse Repos 165.74 0.98%
CBLO 0.32 0.00%
Net Current Assets -92.88 -0.56%
HSBC Tax Saver Equity Fund Total Net Assets as on 31-Mar-2018 16,904.37 100.00%
Riskometer
This product is suitable for Dividend Declaration
Moderate Mo
investors who are seeking*: t el y d
era Higerat Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
odLow h e
• To create wealth over long of dividend declared Non-Institutional Institutional (cum dividend)
M
ly
term HSBC Tax Saver Equity Fund Dividend

Low
High
• Invests in equity and equity 23-Mar-16 1.50000 1.50000 19.4675

related securities with no 24-Mar-17 1.50000 1.50000 23.1073
LOW HIGH
market capitilastion bias 30-Jan-18 2.50000 2.50000 26.4229
Investors understand that their principal
will be at Moderately High risk HSBC Tax Saver Equity Fund Dividend Direct
23-Mar-16 1.50000 1.50000 19.9950
* Investors should consult their financial advisers if in doubt about 24-Mar-17 1.50000 1.50000 23.9550
whether the product is suitable for them. 30-Jan-18 2.50000 2.50000 27.6259
Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit.
10
HSBC Dynamic Asset Allocation Fund
An open ended Dynamic Asset Allocation Fund.
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. However, there can be no
assurance or guarantee that the investment objective of the scheme would be achieved.
Date of Allotment 24-Sep-07 Issuer (` in Lacs) Assets
NAV (Growth) per unit `16.9682
(as on 28.03.18) Maruti Suzuki India 203.81 4.83%
Monthly Average AUM Mahindra & Mahindra 177.34 4.20%
4,284.51
(In Lakhs)
Fund Managers Banks
Neelotpal Sahai
(for Equity portion) HDFC Bank 414.94 9.83%
Sanjay Shah ICICI Bank 250.52 5.94%

(for Fixed Income portion)
Kotak Mahindra Bank 209.56 4.97%
SIP Available
IndusInd Bank 179.68 4.26%
Application Amount `1,000 p.m.(SIP) Yes Bank 167.67 3.97%
@
Exit Load In respect of each purchase Cement
of 1% is payable if Units are Shree Cement 113.38 2.69%
redeemed / switched-out within 1
year from the date of allotment. Construction Project
No Exit Load will be charged if Larsen & Toubro 262.18 6.21%

out after 1 year from the date of Consumer Non Durables
allotment.
ITC 281.05 6.66%
Statistical Ratios
Standard Deviation 3.64% Britannia Industries 129.24 3.06%
Beta (Slope) 0.8628 Ferrous Metals
Sharpe Ratio** -0.0614
Tata Steel 132.48 3.14%
(Annualized) Finance
Regular 2.59% Indiabulls Housing Finance 136.10 3.22%
Direct Plan 1.89%
Excludes GST on Investment Management fees of 0.34% of Total Non - Ferrous Metals
Net Assets.
Vedanta 144.48 3.42%
Portfolio Turnover 0.78
Petroleum Products
the last 3 years.
Reliance Industries 353.08 8.37%
**Risk free rate: 9.39% (FIMMDA-NSE Mibor) as on Mar 28, Pharmaceuticals
2018)
Aurobindo Pharma 117.15 2.78%
Asset Allocation Power
Auto 9.03% NTPC 149.34 3.54%

Banks 28.97% Software
Cement 2.69%
Construction Project 6.21% Infosys 294.27 6.97%
Consumer Non Durables 9.72% HCL Technologies 154.98 3.67%
Finance 3.22% Telecom - Services
Non - Ferrous Metals 3.42% Bharti Airtel 139.55 3.31%
Petroleum Products 8.37%
Other Equity Investments 2.25 0.05%
Power 3.54% Cash Equivalents
Software 10.64%
Telecom - Services 3.31%
Other Equity Investments 0.05% CBLO 0.44 0.01%
Total Net Assets 100.00% Total Net Assets as on 31-Mar-2018 4,220.18 100.00%
HSBC Dynamic Asset Allocation Fund

This product is suitable for Riskometer
investors who are seeking*: Moderate Mo

t el y d
era Higerat
odLow h e
M
ly
term
Low
High

related securities and in debt
LOW HIGH
instruments when view on
equity markets is negative will be at Moderately High risk

11
HSBC Global Emerging Markets Fund
An open ended fund of fund scheme investing in HSBC Global Investment Funds - Global Emerging Markets Equity Fund.
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 - Global Emerging Markets Equity Fund. 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 can be no assurance or
guarantee that the investment objective of the scheme would be achieved.

Date of Allotment 17-Mar-08 Issuer (` in Lacs) Assets
Benchmark MSCI Emerging Markets Index Overseas Mutual Fund
NAV (Growth) per unit HSBC GIF Glob Emerg Mkts Eq S1 Dis 912.62 97.82%
(as on 28.03.18) `14.4790
Monthly Average AUM Cash Equivalents
(In Lakhs) 962.52
Fund Manager Reverse Repos 28.66 3.07%
Ranjithgopal K A (Dedicated
fund manager for overseas
CBLO 0.06 0.01%
investments)
SIP Available
Total Net Assets as on 31-Mar-2018 932.96 100.00%
Application Amount `1,000 p.m.(SIP)
@
Exit Load In respect of each purchase
of 1% is payable if Units are Dividend Declaration
1 year from the date of Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
allotment.
HSBC - Global Emerging Markets Fund - Dividend
No Exit Load will be charged if 27-Jun-14 0.50000 0.50000 11.5335
Units are redeemed/ switched - HSBC - Global Emerging Markets Fund - Dividend - Direct Plan
out after 1 year from the date of 27-Jun-14 0.50000 0.50000 11.6656
allotment. Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit.
Statistical Ratios
Beta (Slope) 1.0128
(Annualized)
Regular 2.71%
Direct Plan 1.90%
(inclusive of underlying scheme's expenses)
Excludes GST on Investment Management fees of 0.19% of Total
Net Assets.

the last 3 years.
2018)
Asset Allocation
Overseas Mutual Fund 97.82%
HSBC Global Emerging Markets Fund

Riskometer
This product is suitable for
Moderate Mo
investors who are seeking*: t el y d
era Higerat
odLow h e
• To create wealth over long term
M
ly
• Investment predominantly in
Low
High
units of HSBC Global Investment

Funds - Global Emerging LOW HIGH
Markets Equity Fund will be at High risk

12
HSBC Asia Pacific (Ex Japan)Dividend Yield Fund
An Open Ended Fund of Funds Scheme investing in HSBC Global Investments Fund - Asia Pacific Ex Japan Equity High Dividend Fund.
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 High 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.

Benchmark MSCI AC Asia Pacific ex Japan Overseas Mutual Fund
NAV (Growth) per unit

(as on 28.03.18) `13.5265 HSBC GIF Asia Pacific Ex Japan Eq HD-S9D 785.55 96.73%
Monthly Average AUM

827.86 Cash Equivalents
(In Lakhs)
Fund Manager Ranjithgopal K A (for overseas Reverse Repos 26.96 3.32%
investments), Sanjay Shah (for
investments in Indian Market) CBLO 0.05 0.01%
SIP Available
Minimum `10,000 (Lumpsum) Net Current Assets -0.47 -0.06%
Exit Load@ In respect of each purchase Total Net Assets as on 31-Mar-2018 812.10 100.00%
1 year from the date of allotment.
out after 1 year from the date of
allotment.
Statistical Ratios
Beta (Slope) 0.8960

(Annualized)
Regular 2.30%
Direct Plan 1.58%
Net Assets.

the last 3 years.
2018)
Asset Allocation
HSBC Asia Pacific (Ex Japan)Dividend Yield Fund

t el y d
era Higerat
• To create wealth over long odLow h e
M
ly
term
• Investment in equity and equity
Low
High
related securities of Asia Pacific

LOW HIGH
countries (excluding Japan)
through fund of funds route will be at High risk

13
HSBC Brazil Fund
An Open-Ended Fund of Funds Scheme investing in HSBC Global Investments Fund - Brazil Equity Fund.
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. However, there can be no
assurance or guarantee that the investment objective of the scheme would be achieved.

Date of Allotment 06-May-11 Issuer (` in Lacs) Assets
Benchmark MSCI Brazil 10/40 Index Overseas Mutual Fund
(as on 28.03.18) `8.1035 HSBC GIF Brazil Equity S3D 2,413.48 97.94%
Monthly Average AUM
(In Lakhs) 2,561.82 Cash Equivalents
Fund Manager Ranjithgopal K A (Dedicated
fund manager for overseas Reverse Repos 82.18 3.34%
investments)
CBLO 0.16 0.01%
SIP Available
Minimum `10,000 (Lumpsum) Net Current Assets -31.66 -1.28%
@
Exit Load In respect of each purchase Total Net Assets as on 31-Mar-2018 2,464.16 100.00%
allotment.
allotment.
Statistical Ratios
Beta (Slope) 0.9175
Sharpe Ratio** 0.0450

(Annualized)
Regular 2.65%
Direct Plan 1.89%
Net Assets.

the last 3 years.
2018)
Asset Allocation
HSBC Brazil Fund

investors who are seeking*: t el y
Moderate Mo
d
era Higerat
• To create wealth over long odLow h e
M
ly
term
Low
High

related securities through LOW HIGH
feeder route in Brazilian Investors understand that their principal
markets will be at High risk

14
HSBC Managed Solutions India - Growth
An Open Ended Fund of Funds Scheme (Overseas/Domestic)
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 in a basket of debt, equity, gold exchange traded funds (ETFs) and other
ETFs, units of offshore mutual funds and money market instruments. However, there can be no assurance or guarantee that the investment objective of the
scheme would be achieved.

Date of Allotment 30-Apr-14 Issuer (` in Lacs) Assets
Benchmark Composite Index constituting Mutual Fund
80% of S&P BSE 200 Index
and 20% of CRISIL Composite
HSBC Large Cap Equity Fund - Growth Direct 9,259.48 59.11%
Bond Index
NAV (Growth) per unit HSBC Small Cap Equity Fund - Growth Direct 3,102.39 19.80%
(as on 28.03.18) `17.2199
Monthly Average AUM HSBC Short Duration Fund - Growth Direct 1,410.94 9.01%
(In Lakhs) 15,693.00
HSBC Flexi Debt Fund Growth Direct 845.90 5.40%
Fund Managers Ranjithgopal K A (Dedicated
Fund Manager for investments HSBC Debt Fund Growth Direct 839.29 5.36%
in foreign securities)
Gautam Bhupal (For managing
Cash Equivalents
investments in Indian Market –
Equity Portion)
Sanjay Shah (For managing Reverse Repos 185.10 1.18%
Fixed Income Portion) CBLO 0.36 0.00%
SIP Available
Minimum `5,000 (Lumpsum) Net Current Assets 21.24 0.14%
@ Total Net Assets as on 31-Mar-2018 15,664.71 100.00%
allotment.
allotment.
Statistical Ratios
Beta (Slope) 0.9629

(Annualized)
Regular 2.25%
Direct Plan 1.98%
Net Assets and of 0.22% on the underlying scheme's in which the
fund of fund invests.

the last 3 years.
2018)
Asset Allocation
Mutual Fund 98.68%
Net Current Assets 0.14%
HSBC Managed Solutions India - Growth

t el y d
• To create wealth over long term era Higerat
odLow h e
M
ly
• Investing predominantly in units

of equity mutual funds as well as
Low
High
in a basket of debt mutual funds,

gold & exchange traded funds, LOW HIGH
offshore mutual funds and Investors understand that their principal

money market instruments.

15
HSBC Managed Solutions India - Moderate
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, equity, gold ETFs and other ETFs, units of
offshore mutual funds and money market instruments. However, there can be no assurance or guarantee that the investment objective of the scheme would be

Benchmark CRISIL Hybrid 35+65 - Mutual Fund
Aggressive Index (renamed from
existing CRISIL Balanced Fund HSBC Large Cap Equity Fund - Growth Direct 12,811.35 48.46%
Aggressive Index)
HSBC Flexi Debt Fund Growth Direct 4,252.90 16.09%
(as on 28.03.18) `16.3677 HSBC Small Cap Equity Fund - Growth Direct 4,187.25 15.84%
Monthly Average AUM
(In Lakhs) 26,708.31 HSBC Short Duration Fund - Growth Direct 4,085.09 15.45%
Fund Managers Ranjithgopal K A (Dedicated Fund HSBC Debt Fund - Growth Direct 838.67 3.17%
Manager for investments in
foreign securities)
Cash Equivalents
investments in Indian Market – Reverse Repos 341.51 1.29%
Equity Portion)
Sanjay Shah (For managing CBLO 0.66 0.00%
Fixed Income Portion) Net Current Assets -82.01 -0.30%
SIP Available
Minimum `5,000 (Lumpsum) Total Net Assets as on 31-Mar-2018 26,435.43 100.00%
Exit Load@ In respect of each purchase
/switch-in of Units, an Exit Load of
1% is payable if Units are
redeemed / switched-out within 1
year from the date of allotment.
Units are redeemed/ switched - out
after 1 year from the date of
allotment.
Statistical Ratios
Beta (Slope) 0.9831
(Annualized)
Regular 2.13%
Direct Plan 1.88%

the last 3 years.
2018)
Asset Allocation
Mutual Fund 99.01%
HSBC Managed Solutions India - Moderate

Riskometer
t el y d
• To create wealth and provide era Higerat
odLow h e
income over the long term
M
ly
• Investments in a basket of debt

Low
High
mutual funds, equity mutual

funds, gold & exchange traded LOW HIGH
funds, offshore mutual funds Investors understand that their principal
and money market instruments. will be at Moderately High risk

16
HSBC Managed Solutions India - Conservative
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 investing in a basket of debt, equity, gold ETFs and other ETFs and money market
instruments. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Benchmark Composite Index constituting Mutual Fund
of 90% into CRISIL Composite
Bond Index and 10% of S&P HSBC Short Duration Fund - Growth Direct 12,302.76 42.98%
BSE 200 Index
HSBC Flexi Debt Fund Growth Direct 5,381.08 18.80%
NAV (Growth) per unit `13.8914 L&T Triple Ace Bond Fund Direct Growth 4,436.35 15.50%
(as on 28.03.18)
HSBC Large Cap Equity Fund - Growth Direct 2,802.10 9.79%
Monthly Average AUM 29,563.88 IDFC Dynamic Bond Fund-Direct PL - Growth 2,584.03 9.03%
(In Lakhs)
HSBC Debt Fund - Growth Direct 841.26 2.94%
Fund Managers Ranjithgopal K A (Dedicated
HDFC Income Fund Direct Plan - Growth 121.69 0.43%
Fund Manager for investments
in foreign securities) Cash Equivalents
investments in Indian Market – Reverse Repos 287.18 1.00%
Equity Portion)
Sanjay Shah (For managing CBLO 0.56 0.00%
Fixed Income Portion) Net Current Assets -133.62 -0.48%

SIP Available
allotment.
allotment.
Statistical Ratios
Standard Deviation 0.89
Beta (Slope) 0.8359
(Annualized)
Regular 1.59%
Direct Plan 1.34%

the last 3 years.
2018)
Asset Allocation
Mutual Fund 99.47%
HSBC Managed Solutions India - Conservative

t el y d
era Higerat
• To create wealth over long term odLow h e
M
ly
• Investing predominantly in
units of debt mutual funds as
Low
High
well as in a basket of equity

mutual funds, gold & other LOW HIGH
exchange traded funds and Investors understand that their principal
will be at Moderate risk
money market instruments.
17
HSBC Global Consumer Opportunities Fund - Benefiting from China’s
Growing Consumption Power
An Open-Ended Fund of Funds Scheme investing in HSBC Global Investments Fund - China Consumer Opportunities Fund.
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. However, there can be
no assurance or guarantee that the investment objective of the scheme would be achieved.

Benchmark MSCI AC World Index Overseas Mutual Fund
NAV (Growth) per unit HSBC GIF-China Consumer Opp S5 Cap 392.82 95.45%
(as on 28.03.18) `12.2661
Cash Equivalents
Monthly Average AUM
(In Lakhs) 423.89 Reverse Repos 19.89 4.83%
Fund Managers CBLO 0.04 0.01%

Ranjithgopal K A (Dedicated
Fund Manager) & Sanjay Shah
(for investments in Indian Net Current Assets -1.18 -0.29%
Market)
Total Net Assets as on 31-Mar-2018 411.56 100.00%
SIP Available
allotment.
allotment.
Statistical Ratios
Beta (Slope) 0.9475
the last 3 years.
2018)

(Annualized)
Regular 2.55%
Direct Plan 1.62%
Net Assets.
Asset Allocation
HSBC Global Consumer Opportunities Fund - Benefiting from

China’s Growing Consumption Power
Riskometer
Moderate Mo
tely d
Higerat
odLow h e
• To create wealth over long term
M
ly
• Investment in equity and equity

Low
High
related securities around the

world focusing on growing LOW HIGH
consumer behaviour of China Investors understand that their principal
through feeder route will be at High risk

18
Fund Managers - Equity
Name of Scheme Fund Manager
HSBC Large Cap Equity Fund Neelotpal Sahai (from 27 May 2013)
HSBC Multi Cap Equity Fund Neelotpal Sahai (from 27 May 2013)
HSBC Small Cap Equity Fund Dhiraj Sachdev (from 01 December 2009)
HSBC Infrastructure Equity Fund Dhiraj Sachdev (from 01 December 2009)
HSBC Tax Saver Equity Fund Aditya Khemani (from 24 February 2009)
HSBC Dynamic Asset Allocation Fund For Equity portion: Neelotpal Sahai (from 27 May 2013) &
For Debt portion: Sanjay Shah (from 14 August 2009)
HSBC Global Emerging Markets Fund Ranjithgopal K A (from 27 February 2017)

HSBC Brazil Fund Ranjithgopal K A (from 27 February 2017)
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund For overseas investments: Ranjithgopal K A (from 27 February 2017) &
For investment in Indian markets: Sanjay Shah (from 24 February 2014)
HSBC Managed Solutions For overseas investment : Ranjithgopal K A (from 27 February 2017),
For Investments in Indian Market - Equity Portion : Gautam Bhupal
(from 21 Oct 2015) & For Investments in Indian Market - Debt Portion :
Sanjay Shah (April 2014)
HSBC Global Consumer Opportunities Fund - For Overseas Market : Ranjithgopal K A (from 27 February 2017)
Benefiting from China’s Growing Consumption Power For Investments in Indian Market - Debt Portion : Sanjay Shah
(from 13 February 2015)
Fund Manager’s Experience

Dhiraj Sachdev
Senior Vice President and Fund Manager - Equities
B.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 Ltd
Senior 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 Ltd
Portfolio Manager from October 2003 to September 2005
HDFC Bank Ltd
Senior Manager Equities from November 1999 to September 2003
DSQ Software Ltd
Business 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) Ltd
Manager 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)
Experience:
Over 12 years of experience in areas of research and Fund Management.
HSBC Asset Management (India) Private Limited
Vice President & Fund Manager, since October 2015 till date.
Vice President - Investment Management, from June 2015 to October 2015.
Fund Manager for PMS Portfolios from July 2008 till June 2015.
UTI Asset Management Company
Equity Research Analyst from May 2004 till June 2008.
19
Fund Managers - Equity
Neelotpal Sahai
Senior Vice President & Head - Equities
B.Tech, PGDM (IIM Kolkata)
Experience:
Over 24 years of experience in Research and Fund Management.
Senior Fund Manager – Equities from April 2013 onwards.
IDFC Asset Management Company Ltd.
Director from February 2006 to April 2013
Motilal Oswal Securities Ltd
Senior Research Analyst from March 2005 to January 2006
Infosys Ltd
Senior Project Manager from June 1999 to March 2005
Vickers Ballas Securities Ltd
Analyst from September 1998 to June 1999
SBC Warburg
Analyst from May 1997 to May 1998
UTI Securities Ltd
Equity Analyst from June 1995 to May 1997
Aditya Khemani
Vice President & Fund Manager - Equities
B.Com. (Hons.), Post Graduate Diploma in Business Management
Experience:
Over 11 years experience in research.
Vice 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 Ltd
Senior Manager - Equity Research from March 2007 to September 2007
Prudential ICICI Asset Management Company India Private Ltd
Assistant Manager - Equity Research from December 2005 to February 2007
Morgan Stanley Advantage Services India Private Ltd
Research Associate from May 2005 to November 2005
Ranjithgopal K A
Vice President - Equities
PGDBM, BA - Economics
Experience:
Over 10 years of experience in Equity Research & Sales
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
20
Fund Manager Wise Comparative Performance of Equity Schemes
Funds Managed by Neelotpal Sahai.(Total Schemes Managed 3)
#
HSBC Large Cap Equity Fund Date of Inception : 10 Dec 02
Scheme Name & Benchmarks 1 Year 3 Years 5 Years Since
Inception
HSBC Large Cap Equity Fund - Growth 10.24% 9.19% 14.04% 21.35%
Nifty 50 (Scheme Benchmark) 12.68% 7.99% 13.63% 17.47%
S&P BSE Sensex (Standard Benchmark) 13.51% 7.76% 13.48% 17.43%
`10,000, if invested in HLEF, would have become `11,024 `13,024 `19,295 `193,368
`10,000, if invested in Nifty 50, would have become `11,268 `12,599 `18,950 `117,588
`10,000, if invested in S&P BSE Sensex, would have become `11,351 `12,518 `18,826 `116,976
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)
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 date 10-Dec-
2002 to date 31-May-2007 and TRI values since date 31-May-2007
Funds Managed by Neelotpal Sahai.(Total Schemes Managed 3)
HSBC Multi Cap Equity Fund Date of Inception : 24 Feb 04

Inception
HSBC Multi Cap Equity Fund - Growth 10.67% 9.63% 19.60% 16.37%
S&P BSE 200 (Scheme Benchmark) 13.51% 9.91% 15.77% 14.79%
Nifty 50 (Standard Benchmark) 12.68% 7.99% 13.63% 14.42%
`10,000, if invested in HMEF, would have become `11,067 `13,183 `24,483 `84,775
`10,000, if invested in S&P BSE 200, would have become `11,351 `13,284 `20,804 `69,914
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 24-
Feb-2004 to date 29-Jun-2007 and TRI values since date 29-Jun-2007.
Funds Managed by Neelotpal Sahai (for Equity portion) (Total Schemes Managed 3)
Funds Managed by Sanjay Shah (for Fixed Income portion) (Total Schemes Managed 10)
HSBC Dynamic Asset Allocation Fund Date of Inception : 24 Sep 07

Inception
HSBC Dynamic Asset Allocation Fund - Growth 9.89% 7.55% 11.62% 5.16%
`10,000, if invested in HDAF, would have become `10,989 `12,445 `17,332 `16,973
The said Fund is managed by Sanjay Shah Effective (14 August 2009)
Performance of the respective benchmark is calculated as per the Total Return Index (TRI)
#
Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid effective from
Mar 14, 2018.
Returns are of growth option. The returns for the respective periods are provided as on Last business day of March 2018 for the respective Schemes. 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 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.
21
Funds Managed by - Ranjithgopal K A (Total Schemes Managed 7)
#
HSBC Global Emerging Markets Fund^ Date of Inception : 17 Mar 08
Inception
HSBC Global Emerging Markets Fund - Growth 19.81% 8.81% 6.68% 3.76%
MSCI Emerging Market Index (Scheme Benchmark) 22.73% 10.60% 8.69% 8.32%
`10,000, if invested in HGEF, would have become `11,981 `12,889 `13,819 `14,483
`10,000, if invested in MSCI Emerging Market Index, would have become `12,273 `13,536 `15,172 `22,303
The said Fund is managed by Ranjithgopal K A Effective (27 February 2017)
Funds Managed by - Ranjithgopal K A (Total Schemes Managed 7)

^
HSBC Brazil Fund Date of Inception : 06 May 11
Inception
HSBC Brazil Fund - Growth 15.04% 11.08% -3.64% -3.00%
MSCI Brazil 10/40 Index (Scheme Benchmark) 19.79% 17.96% 3.22% 2.61%
`10,000, if invested in HBF, would have become `11,504 `13,714 `8,307 `8,105
`10,000, if invested in MSCI Brazil 10/40 Index, would have become `11,979 `16,428 `11,718 `11,950
Past performance may or may not be sustained in the future. Refer note below
Funds Managed by Ranjithgopal K A (For overseas investment) (Total Schemes Managed 7)

HSBC Asia Pacific (Ex Japan) Dividend Date of Inception : 24 Feb 14

^
Yield Fund
Scheme Name & Benchmarks 1 Year 3 Years Since

Inception
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund - Growth 15.56% 8.84% 7.66%
MSCI AC Asia Pacific ex Japan (Scheme Benchmark) 19.87% 9.55% 9.43%
Nifty 50 (Standard Benchmark) 12.68% 7.99% 14.18%
`10,000, if invested in HAPDF, would have become `11,556 `12,899 `13,524
`10,000, if invested in MSCI AC Asia Pacific ex Japan, would have become `11,987 `13,154 `14,457
`10,000, if invested in Nifty 50, would have become `11,268 `12,599 `17,202
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.
#
Mar 14, 2018.
22
HSBC Global Consumer Opportunities Fund - Date of Inception : 24 Feb 15

^
Benefiting from China's Growing Consumption Power

Inception
HSBC Global Consumer Opportunities Fund - Benefiting from China's
Growing Consumption Power - Growth 18.62% 7.54% 6.83%
MSCI AC World Index (Scheme Benchmark) 13.66% 9.21% 8.68%
`10,000, if invested in HGCOF, would have become `11,862 `12,442 `12,267
`10,000, if invested in MSCI AC World Index, would have become `11,366 `13,032 `12,936
The said Fund is managed by Sanjay Shah Effective (13 February 2015)
Funds Managed by - Dhiraj Sachdev (Total Schemes Managed 2)

#
HSBC Infrastructure Equity Fund Date of Inception : 23 Feb 06

Inception
HSBC Infrastructure Equity Fund - Growth 13.50% 7.80% 17.58% 7.11%

$
S&P BSE India Infrastructure (Scheme Benchmark) 10.09% 9.77% 17.67% NA
`10,000, if invested in HIEF, would have become `11,350 `12,532 `22,483 `22,956
`10,000, if invested in S&P BSE India Infrastructure, would have become `11,009 `13,233 `22,570 NA
The said Fund is managed by Dhiraj Sachdev Effective (01 December 2009)
Please Note : NA means not available.
$The launch date of the S&P BSE India Infrastructure Index (INR) is May 19, 2014 whereas the inception date of the scheme is Feb 23, 2006. Information presented for 5 year return is back-tested which is
available from Mar 31, 2008. The corresponding benchmark returns since inception of the scheme is not available. All index data is available on the website of Asia Index Pvt. Ltd. a joint venture between
BSE Ltd. and S&P Dow Jones Indices LLC. (source: http://www.asiaindex.co.in).
Funds Managed by - Dhiraj Sachdev (Total Schemes Managed 2)

#
HSBC Small Cap Equity Fund Date of Inception : 19 May 05

Inception
HSBC Small Cap Equity Fund - Growth 19.24% 16.67% 27.76% 14.62%
S&P BSE 250 Small Cap Index (Scheme Benchmark)* 16.64% 15.31% 20.27% NA
`10,000, if invested in HSEF, would have become `11,924 `15,894 `34,062 `57,867
`10,000, if invested in S&P BSE 250 Small Cap Index, would have become `11,664 `15,344 `25,177 NA
The said Fund is managed by Dhiraj Sachdev Effective (01 December 2009)
Please Note : NA means not available.
* Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid scheme including change in the
benchmark to S&P BSE 250 Small Cap Index effective from Mar 14, 2018. The launch date of the S&P BSE 250 Small Cap Index (INR) is November 30, 2017 whereas the inception date of the scheme is
May 19, 2005. All information presented prior to the index launch date is back-tested which is available from Mar 31, 2008. The corresponding benchmark returns since inception of the scheme is not
available. All index data is available on the website of Asia Index Pvt. Ltd. a joint venture between BSE Ltd. and S&P Dow Jones Indices LLC. (source: http://www.asiaindex.co.in).
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.
#
Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid effective from Mar 14, 2018.
Returns are of growth option. The returns for the respective periods are provided as on Last business day of March 2018 for the respective Schemes. 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 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.
23
Funds Managed by - Aditya Khemani (Total Schemes Managed 2)
HSBC Tax Saver Equity Fund Date of Inception : 05 Jan 07

Inception
HSBC Tax Saver Equity Fund - Growth 10.81% 11.11% 18.27% 12.16%
`10,000, if invested in HTSF, would have become `11,081 `13,725 `23,151 `36,293
The said Fund is managed by Aditya Khemani Effective (24 February 2009)
Jan-2007 to date 29-Jun-2007 and TRI values since date 29-Jun-2007.
Funds Managed by Gautam Bhupal (for Equity portion) (Total Schemes Managed 3)
#
HSBC Managed Solutions - Growth Date of Inception : 30 Apr 14

Inception
HSBC Managed Solutions - Growth - Growth 11.27% 11.01% 14.90%
Customised Benchmark Index Fund (Scheme Benchmark)* 12.93% 9.69% 14.46%
Crisil 10 Year Gilt Index (Standard Benchmark) -0.25% 6.45% 8.39%
`10,000, if invested in HMSG, would have become `11,130 `13,688 `17,218
`10,000, if invested in Customised Benchmark Index, would have become `11,297 `13,204 `16,962
`10,000, if invested in Crisil 10 Year Gilt Index, would have become `9,975 `12,067 `13,705
The said Fund is managed by Gautam Bhupal Effective (21 October 2015)
The said Fund is managed by Sanjay Shah Effective (April 2014)
*Composite index of S&P BSE 200 (80%) and Crisil Composite Bond Fund Index (20%).
#
Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid
effective from Mar 14, 2018.
24
#
HSBC Managed Solutions - Moderate - Growth Date of Inception : 30 Apr 14

Inception
HSBC Managed Solutions - Moderate - Growth 10.02% 10.43% 13.42%
CRISIL Hybrid 35+65 - Aggressive Index (Scheme Benchmark) 11.05% 9.54% 13.48%
`10,000, if invested in HMSM, would have become `11,005 `13,474 `16,367
`10,000,ifinvestedin CRISILHybrid35+65-AggressiveIndex,wouldhavebecome `11,108 `13,150 `16,401
#
HSBC Managed Solutions - Conservative - Growth Date of Inception : 30 Apr 14

Inception
HSBC Managed Solutions - Conservative - Growth 4.79% 6.79% 8.76%
Customised Benchmark Index Fund (Scheme Benchmark)* 6.54% 8.48% 10.46%
`10,000, if invested in HMSC, would have become `10,480 `12,183 `13,889
`10,000, if invested in Customised Benchmark Index, would have become `10,656 `12,772 `14,758
*Composite index of Crisil Composite Bond Fund Index (90%) and S&P BSE 200 (10%).
#
Mar 14, 2018.
25
SIP Performance of Equity Schemes
Returns shown for Regular Plan - Growth Option
The Fund offers flexible and convenient Systematic Investment Plan (SIP) facility. To illustrate the advantages of SIP investments, this is how your investments would have
grown 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 given
an 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 March 28, 2018.
#
HSBC Large Cap Equity Fund Date of Inception : 10 Dec 02
Scheme Name & Benchmarks 1 3 5 Since
Year Years Years Inception
Total amount invested (`) 120000 360000 600000 1840000
Market Value as on Mar 28, 2018 (`) 120361 427528 817693 6242380
Scheme Returns (%) 0.57 11.57 12.39 14.56
Nifty 50 - Scheme Benchmark (`) 122328 425727 802644 5866444
Nifty 50 - Scheme Benchmark Returns (%) 3.70 11.28 11.63 13.86
S&P BSE Sensex - Standard Benchmark (`) 123265 425426 795219 5997743
S&P BSE Sensex - Standard Benchmark Returns (%) 5.20 11.23 11.26 14.11
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
date 10-Dec-2002 to date 31-May-2007 and TRI values since date 31-May-2007.
HSBC Multi Cap Equity Fund Date of Inception : 24 Feb 04

Scheme Returns (%) 0.71 12.16 15.61 14.09
S&P BSE 200 - Scheme Benchmark (`) 122417 435549 847462 4702800
S&P BSE 200 - Scheme Benchmark Returns (%) 3.84 12.86 13.84 13.32
Nifty 50 - Standard Benchmark (`) 122328 425727 802644 4415341
Nifty 50 - Standard Benchmark Returns (%) 3.70 11.28 11.63 12.54
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
24-Feb-2004 to date 29-Jun-2007 and TRI values since date 29-Jun-2007.
HSBC Dynamic Asset Allocation Fund Date of Inception : 24 Sep 07

Scheme Returns (%) 0.63 9.18 10.15 8.32
#
26
^#
HSBC Global Emerging Markets Fund Date of Inception : 17 Mar 08
Scheme Returns (%) 15.20 15.57 9.60 7.09
MSCI Emerging Market Index - Scheme Benchmark (`) 131257 462864 793435 2038765
MSCI Emerging Market Index - Scheme Benchmark Returns (%) 18.27 17.16 11.17 10.25
HSBC Brazil Fund^ Date of Inception : 06 May 11

Scheme Returns (%) 17.58 19.42 6.39 2.51
MSCI Brazil 10/40 Index - Scheme Benchmark (`) 134017 517755 812774 1081071
MSCI Brazil 10/40 Index - Scheme Benchmark Returns (%) 22.90 25.28 12.15 7.99
HSBC Asia Pacific (Ex Japan) Dividend Yield Fund^ Date of Inception : 24 Feb 14
Total amount invested (`) 120000 360000 NA 490000
Market Value as on Mar 28, 2018 (`) 126658 439387 NA 610023
Scheme Returns (%) 10.69 13.49 NA 10.78
MSCI AC Asia Pacific ex Japan - Scheme Benchmark (`) 128947 452671 NA 630753
MSCI AC Asia Pacific ex Japan - Scheme Benchmark Returns (%) 14.44 15.58 NA 12.45
Nifty 50 - Standard Benchmark (`) 122337 425936 NA 604459
Nifty 50 - Standard Benchmark Returns (%) 3.71 11.32 NA 10.32
^
#
27
HSBC Tax Saver Equity Fund Date of Inception : 05 Jan 07

Scheme Returns (%) -1.38 13.19 15.88 14.43
Jan-2007 to date 29-Jun-2007 and TRI values since date 29-Jun-2007.
#
HSBC Infrastructure Equity Fund^ Date of Inception : 23 Feb 06
Scheme Returns (%) -4.52 12.42 16.94 9.06

$
S&P BSE India Infrastructure Index - Scheme Benchmark (`) 119901 448938 858373 NA
S&P BSE India Infrastructure Index - Scheme Benchmark Returns (%) -0.16 14.98 14.37 NA
Please Note : “NA means not available.

$The launch date of the S&P BSE India Infrastructure Index (INR) is May 19, 2014 whereas the inception date of the scheme is Feb 23, 2006. Information presented for 5 year
return is back-tested which is available from Mar 31, 2008. The corresponding benchmark returns since inception of the scheme is not available. All index data is available on
the website of Asia Index Pvt. Ltd. a joint venture between BSE Ltd. and S&P Dow Jones Indices LLC. (source: http://www.asiaindex.co.in).
#
28
#
HSBC Small Cap Equity Fund Date of Inception : 19 May 05
Scheme Returns (%) 6.10 17.82 24.78 14.65
S&P BSE 250 Small Cap Index - Scheme Benchmark(`)* 120562 469079 975891 NA
S&P BSE 250 Small Cap Index - Scheme Benchmark Returns (%) 0.89 18.09 19.62 NA
Please Note : “NA means not available.
* Pursuant to the circular issued by SEBI on ‘Categorization and Rationalization of the Schemes, there has been change in the fundamental attribute(s) of the aforesaid scheme including
change in the benchmark to S&P BSE 250 Small Cap Index effective from Mar 14, 2018. The launch date of the S&P BSE 250 Small Cap Index (INR) is November 30, 2017 whereas the
inception date of the scheme is May 19, 2005. All information presented prior to the index launch date is back-tested which is available from Mar 31, 2008. The corresponding benchmark
returns since inception of the scheme is not available. All index data is available on the website of Asia Index Pvt. Ltd. a joint venture between BSE Ltd. and S&P Dow Jones Indices LLC.
(source: http://www.asiaindex.co.in).
#
HSBC Managed Solutions - Growth Date of Inception : 30 Apr 14
Customised Benchmark Index* - Scheme Benchmark (`) 122417 428491 NA 583376
Customised Benchmark Index - Scheme Benchmark Returns (%) 3.84 11.71 NA 11.08
*Composite index of S&P BSE200 (80%) and Crisil Composite Bond Fund Index (20%).
HSBC Managed Solutions - Moderate - Growth# Date of Inception : 30 Apr 14

(CRISIL Hybrid 35+65 - Aggressive Index) Scheme Benchmark (`) 122484 423941 NA 578622
(CRISILHybrid35+65-AggressiveIndex) SchemeBenchmarkReturns(%) 3.95 11.00 NA 10.67

#
29
#
HSBC Managed Solutions - Conservative - Growth Date of Inception : 30 Apr 14
Customised Benchmark Index* - Scheme Benchmark (`) 122438 407778 NA 553736
Customised Benchmark Index - Scheme Benchmark Returns (%) 3.88 8.28 NA 8.37
HSBC Global Consumer Opportunities Fund -

^ Date of Inception : 24 Feb 15
Benefiting from China's Growing Consumption Power
MSCI AC World Index - Scheme Benchmark (`) 126054 426549 NA 439508
MSCI AC World Index - Scheme Benchmark Returns (%) 9.71 11.42 NA 11.27
*Composite index of Crisil Composite Bond Fund Index (90%) and S&P BSE200 (10%).
^
#
30
HSBC Regular Savings Fund
An open ended Hybrid Scheme investing predominantly in debt instruments.
Investment Objective: Seeks to generate reasonable returns through investments in Debt and Money Market Instruments. The secondary objective of the
scheme is to invest in equity and equity related instruments to seek capital appreciation. However, there can be no assurance or guarantee that the investment
objective of the scheme would be achieved.

Market Value % to Net Rating
Benchmark CRISIL Hybrid 85+15 - Money Market Instruments
Conservative Index (renamed Certificate of Deposit
from existing MIP Blended NABARD 753.26 3.32% CRISIL A1+
Fund Index) Corporate/ PSU Debt
Corporate Bonds / Debentures
NAV (Growth) per unit Power Grid Corporation of India 1,553.95 6.84% CRISIL AAA
(as on 28.03.18) `34.8413 National Highways Authority of India 1,295.48 5.70% CRISIL AAA
NABARD 1,081.26 4.76% CRISIL AAA
Average Maturity of India Infradebt 1,013.65 4.46% CRISIL AAA
Portfolio 6.22 years Bajaj Finance 690.68 3.04% CRISIL AAA
Modified Duration Power Finance Corporation 681.19 3.00% CRISIL AAA
4.48 years Tata Sons 499.17 2.20% CRISIL AAA
of Portfolio Tata Sons 248.11 1.09% CRISIL AAA
Yield To Maturity* 7.77%
Can Fin Homes 227.16 1.00% CARE AAA
Power Grid Corporation of India 204.17 0.90% CRISIL AAA
Monthly Average AUM NABARD 150.89 0.66% CRISIL AAA
(In Lakhs) 23,824.72 NTPC 140.73 0.62% CRISIL AAA
Fund Managers Capital First 100.48 0.44% CRISIL AA+
Aditya Khemani Tata Sons 100.27 0.44% CRISIL AAA
(for Equity portion) Sanjay Shriram Transport Finance Company 49.63 0.22% CRISIL AA+
Shah (for Debt portion) Rural Electrification Corporation 30.07 0.13% CRISIL AAA
Zero Coupon Bonds
SIP Available India Infoline Housing Finance 80.60 0.35% [ICRA]AA(SO)
India Infoline Finance 80.01 0.35% [ICRA]AA(SO)
Minimum `10,000 (Lumpsum) Equity
Application Amount Equities
Growth HDFC Bank 546.97 2.41%
`10,000 (Lumpsum) ICICI Bank 417.33 1.84%
Quarterly Dividend `25,000 (Lumpsum) IndusInd Bank 368.33 1.62%
Monthly Dividend `1,000 p.m.(SIP) Maruti Suzuki India 267.34 1.18%
@ United Spirits 256.63 1.13%
MRF 228.42 1.01%
/switch-in of Units, an Exit Load Hindustan Unilever 198.67 0.87%
of 1% is payable if Units are ITC 196.09 0.86%
redeemed / switched-out within Exide Industries 178.28 0.79%
1 year from the date of Mahindra & Mahindra 177.34 0.78%
Nilkamal 167.18 0.74%
allotment. OCL India 166.44 0.73%
No Exit Load will be charged if NCL Industries 164.55 0.72%
Units are redeemed/ switched - Somany Ceramics 163.16 0.72%
out after 1 year from the date of Torrent Pharmaceuticals 162.47 0.72%
The Federal Bank 149.86 0.66%
allotment. Galaxy Surfactants 136.48 0.60%
Weighted Average Monthly Total Expenses ratios Crompton Greaves Cons Electrical 134.95 0.59%
(Annualized) Heritage Foods Ltd 132.62 0.58%
Amara Raja Batteries 131.18 0.58%
Regular 2.21% DCB Bank 129.24 0.57%
Direct Plan 1.71% InterGlobe Aviation 129.05 0.57%
Excludes GST on Investment Management fees of 0.27% of Cholamandalam Investment & Fin Co 123.29 0.54%
Total Net Assets. Finolex Cables 121.47 0.53%
Sun Pharmaceutical Ind 120.31 0.53%
@ Effective from March 14, 2018 for prospective investments. Bharti Airtel 119.61 0.53%
JM Financial 116.91 0.51%
* Based on invested Amount Infosys 116.25 0.51%
Blue Star 98.21 0.43%
Asset Allocation Indo Count Industries 86.70 0.38%
Balrampur Chini Mills 75.65 0.33%
Corporate/ PSU Debt 36.20% Aditya Birla Fashion and Retail 34.64 0.15%
Government Securities
Government Securities 33.14% 8.24% GOVT OF INDIA RED 15-02-2027 2,069.04 9.11% SOVEREIGN
Equity 24.71% 6.79% GOVT OF INDIA RED 15-05-2027 1,120.27 4.93% SOVEREIGN
Money Market Instruments 3.32% 7.17% GOVT OF INDIA RED 08-01-2028 1,033.40 4.55% SOVEREIGN
6.68% GOVT OF INDIA RED 17-09-2031 999.01 4.40% SOVEREIGN
Cash Equivalents 2.12% 8.39% RAJASTHAN SPL SDL RED 15-03-2024 713.68 3.14% SOVEREIGN
Net Current Assets 0.51% 8.60% GOVT OF INDIA RED 02-06-2028 615.13 2.71% SOVEREIGN
Total Net Assets 100.00% 6.84% GOVT OF INDIA RED 19-12-2022 461.16 2.03% SOVEREIGN
8.28% TAMIL NADU SDL RED 21-02-2028 338.56 1.49% SOVEREIGN
8.39% RAJASTHAN SPL SDL RED 15-03-2021 174.25 0.77% SOVEREIGN
Rating Profile 7.65% KARNATAKA SDL 29-11-2027 1.57 0.01% SOVEREIGN
Cash Equivalents
CBLO 0.93 0.00%
AAA and equivalents 38.16% Reverse Repos 479.36 2.11%
Sovereign 33.14% Net Current Assets 105.44 0.51%
Equity 24.71% Total Net Assets as on 31-Mar-2018 22,708.16 100.00%
Reverse Repos/ CBLOs 2.12% Dividend Declaration
AA+/AA-/ AA and equivalents 1.36% Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
Net Current Assets 0.51% of dividend declared Non-Institutional Institutional (cum dividend)
HSBC Regular Savings Fund - Monthly Dividend
Total Net Assets 100.00% 25-Jan-18 0.07223 0.06692 13.2060
26-Feb-18 0.07223 0.06692 12.8333
HSBC Regular Savings Fund 26-Mar-18 0.07223 0.06692 12.6904
HSBC Regular Savings Fund - Monthly Dividend - Direct Plan
This product is suitable for Riskometer 25-Jan-18 0.07223 0.06692 16.4257
el y
Moderate Mo 26-Feb-18 0.07223 0.06692 15.9933
investors who are seeking*: erat d
Higerat 26-Mar-18 0.07223 0.06692 15.8437
odLow h e
• Investment in fixed income HSBC Regular Savings Fund - Quarterly Dividend
M
ly
(debt and money market 25-Sep-17 0.21668 0.20075 13.4921

Low
High
instruments) as well as equity 26-Dec-17 0.21668 0.20075 13.4488

26-Mar-18 0.18057 0.16729 12.8150
and equity related securities LOW HIGH HSBC Regular Savings Fund - Quarterly Dividend - Direct Plan
• Capital appreciation over Investors understand that their principal 25-Sep-17 0.21668 0.20075 14.4199
medium to long term will be at Moderately High risk 26-Dec-17 0.21668 0.20075 14.4157
26-Mar-18 0.18057 0.16729 13.7746
* Investors should consult their financial advisers if in doubt Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit.
about whether the product is suitable for them.
31
HSBC Debt Fund
An open ended Medium to Long Term Debt Scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 years to 7 years.
Investment Objective: To provide reasonable income through a diversified portfolio of fixed income securities such that the Macaulay
duration of the portfolio is between 4 years to 7 years. However, there can be no guarantee that the investment objective of the scheme would
be achieved.
Issuer
Date of Allotment 10-Dec-02 (` in Lacs) Assets
Benchmark CRISIL Composite Bond Money Market Instruments
Fund Index
NAV (Growth) per unit Certificate of Deposit
(as on 28.03.18) `27.6999
NABARD 188.31 4.30% CRISIL AAA
Average Maturity of
Portfolio 6.90 years
Corporate/ PSU Debt
Modified Duration
of Portfolio 4.87 years Corporate Bonds / Debentures
Yield To Maturity* 7.57%
4,748.49 Tata Sons 299.50 6.83% CRISIL AAA
Monthly Average AUM
(In Lakhs)
Fund Manager Sanjay Shah
SIP Available National Highways Authority of India 199.30 4.55% CRISIL AAA
Minimum
`10,000 (Lumpsum)
Bajaj Finance 197.34 4.50% CRISIL AAA
Exit Load Nil Power Finance Corporation 194.62 4.44% CRISIL AAA
Weighted Average Monthly Total Expenses ratios Government Securities

(Annualized)
Regular 1.84% 7.17% GOVT OF INDIA RED 08-01-2028 906.89 20.69% SOVEREIGN
Direct Plan 1.09%
Excludes GST on Investment Management fees of 0.20% of 6.79% GOVT OF INDIA RED 15-05-2027 741.17 16.91% SOVEREIGN
Total Net Assets.
Asset Allocation
Government Securities 63.57%
Corporate/ PSU Debt 25.02% 8.39% RAJASTHAN SPL SDL RED 15-03-2024 203.91 4.65% SOVEREIGN
Cash Equivalents 12.57%
Money Market Instruments 4.30%
Net Current Assets -5.46% 8.24% GOVT OF INDIA RED 15-02-2027 103.45 2.36% SOVEREIGN
Rating Profile Cash Equivalents
Sovereign 63.57% CBLO 1.07 0.02%

AAA and equivalents 29.32%
Reverse Repos/ CBLOs 12.57%
Net Current Assets -5.46% Net Current Assets -238.83 -5.46%
HSBC Debt Fund

erat el y d
Higerat
• Regular Income over long term odLow h e
M
ly
• Investment in diversified of dividend declared Non-Institutional Institutional (cum dividend)

portfolio of fixed income
Low
High
HSBC Debt Fund - Regular Option - Quarterly Dividend

securities such that the
Macaulay^ duration of the LOW HIGH
27-Jun-17 0.14445 0.13383 11.2759
portfolio is between 4 years to 7 Investors understand that their principal 25-Sep-17 0.14445 0.13383 11.1079
years will be at Moderate risk
26-Dec-17 0.14445 0.13383 10.7434
HSBC Debt Fund - Institutional Option - Quarterly Dividend
12-Jun-09 0.11387 0.10598 11.0294
^ The Macaulay duration is the weighted average term to maturity 11-Sep-09 0.11387 0.10598 10.9960
of the cash flows from a bond. The weight of each cash flow is 11-Dec-09 0.11387 0.10598 11.0973
determined by dividing the present value of the cash flow by the
price. Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit.
32
HSBC Short Duration Fund
An open ended Short Term Debt Scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year to 3 years.
Investment Objective: To provide reasonable income through a diversified portfolio of fixed income securities such that the Macaulay
duration of the portfolio is between 1 year to 3 years. However, there can be no assurance or guarantee that the investment objective of the
Date of Allotment 10-Dec-02 Issuer (` in Lacs) Assets
Benchmark CRISIL Short Term Bond Money Market Instruments
Fund Index Certificate of Deposit
Small Industries Development Bank of India 2,356.52 1.66% CARE A1+
NAV (Growth) per unit Yes Bank 2,342.74 1.65% [ICRA]A1+
(as on 28.03.18) `28.4025 IndusInd Bank 2,338.74 1.65% CRISIL A1+
Average Maturity of NABARD 1,412.36 1.00% CRISIL A1+
Portfolio 2.09 years Corporate/ PSU Debt
Modified Duration NABARD 9,882.28 6.97% CRISIL AAA
of Portfolio 1.73 years Rural Electrification Corporation 7,624.16 5.37% CARE AAA
Yield To Maturity* 7.94% Nabha Power 7,564.10 5.33% [ICRA]AAA
Monthly Average AUM 1,47,068.53 Nabha Power 7,513.39 5.30% [ICRA]AAA(SO)
Dewan Housing Finance Corporation 5,030.09 3.55% CARE AAA
(In Lakhs)
Volkswagen Finance Pvt 5,026.25 3.54% Fitch AAA
Fund Managers Sanjay Shah & Energy Efficiency Services 5,011.92 3.53% [ICRA]AA
Kapil Punjabi Dalmia Cements (Bharat) 5,008.95 3.53% [ICRA]AA
Tata Capital Financial Services 4,992.15 3.52% [ICRA]AA+
Aditya Birla Finance 4,962.40 3.50% [ICRA]AA+
SIP Available
CLP Wind Farm India Pvt 4,028.30 2.84% Fitch AA
Minimum `10,000 (Lumpsum) Dewan Housing Finance Corporation 4,023.81 2.84% CARE AAA
Application Amount `1,000 p.m.(SIP) Small Industries Development Bk of India 3,955.04 2.79% CARE AAA
Exit Load Nil Shriram Transport Finance Company 2,504.92 1.77% CRISIL AA+
Orix Leasing & Financial Services 2,492.22 1.76% Fitch AAA
Indian Railway Finance Corporation 2,486.31 1.75% CRISIL AAA
Weighted Average Monthly Total Expenses ratios Power Finance Corporation 2,481.61 1.75% CRISIL AAA
(Annualized) Orix Leasing & Financial Services 2,444.18 1.72% Fitch AAA
Regular 1.25% Power Finance Corporation 2,432.81 1.71% CRISIL AAA
National Highways Authority of India 1,993.04 1.40% CRISIL AAA
Direct Plan 0.30%
India Infradebt 1,520.48 1.07% CRISIL AAA
Excludes GST on Investment Management fees of 0.05% of
Power Grid Corporation of India 1,035.97 0.73% CRISIL AAA
Total Net Assets.
Small Industries Development Bank of India 1,003.19 0.71% CARE AAA
Power Finance Corporation 520.03 0.37% CRISIL AAA
Asset Allocation Tata Capital Financial Services 500.04 0.35% CRISIL AA+
United Spirits 491.95 0.35% CRISIL AA+
Corporate/ PSU Debt 86.88% Power Finance Corporation 321.36 0.23% CRISIL AAA
Power Grid Corporation of India 311.05 0.22% CRISIL AAA
Money Market Instruments 5.96% Reliance Industries 265.31 0.19% CRISIL AAA
Government Securities 4.42% Small Industries Development Bank of India 241.57 0.17% CARE AAA
Power Finance Corporation 239.57 0.17% CARE AAA
Net Current Assets 2.47% Housing & Urban Development Corp 227.39 0.16% CARE AAA
Cash Equivalents 0.27% Indian Railway Finance Corporation 98.70 0.07% CRISIL AAA
Tube Investments of India 78.83 0.06% CARE AA
Total Net Assets 100.00% Rural Electrification Corporation 50.05 0.04% CARE AAA
Housing & Urban Development Corp 40.16 0.03% CARE AAA
Zero Coupon Bonds
Rating Profile Sundaram BNP Paribas Home Finance 6,965.66 4.91% [ICRA]AA+
Sundaram BNP Paribas Home Finance 6,965.66 4.91% [ICRA]AA+
AAA and equivalents 55.91% JM Financial Products 5,486.77 3.87% CRISIL AA
AA+/AA-/ AA and equivalents 36.93% JM Financial Products 5,372.49 3.79% CRISIL AA
Government Securities
Sovereign 4.42% 6.79% GOVT OF INDIA RED 15-05-2027 3,087.53 2.18% SOVEREIGN
Net Current Assets 2.47% 8.44% RAJASTHAN SDL RED 07-03-2028 2,167.14 1.53% SOVEREIGN
Reverse Repos/ CBLOs 0.27% 8.03% UTTAR PRADESH SDL RED 02-06-2020 247.67 0.17% SOVEREIGN
Total Net Assets 100.00% Cash Equivalents
CBLO 146.41 0.10%
Net Current Assets 3,552.67 2.47%
HSBC Short Duration Fund
Total Net Assets as on 31-Mar-2018 1,41,864.88 100.00%
investors who are seeking*: el y
Moderate Mo
d
erat Higerat Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
• Regular Income over Medium odLow h e
M
ly
term
• Investment in diversified portfolio HSBC Short Duration Fund - Regular Option - Monthly Dividend
Low
High
25-Jan-18 0.02400 0.02224 11.1619

of fixed income securities such 26-Feb-18 0.01028 0.00953 11.1429
that the Macaulay^ duration of LOW HIGH 26-Mar-18 0.05950 0.05512 11.2111
the portfolio is between 1 year to Investors understand that their principal HSBC Short Duration Fund - Monthly Dividend - Direct Plan
3 years will be at Moderately Low risk 26-Dec-16 0.07035 0.06518 11.3335
* Investors should consult their financial advisers if in doubt about 25-Jan-17 0.05706 0.05286 11.3524
27-Feb-17 0.04637 0.04296 11.2799
whether the product is suitable for them. HSBC Short Duration Fund - Institutional Option - Monthly Dividend
25-May-15 0.05330 0.04938 12.0078
^ The Macaulay duration is the weighted average term to maturity 25-Jun-15 0.06385 0.05915 11.9934
of the cash flows from a bond. The weight of each cash flow is 27-Jul-15 0.05814 0.05387 12.0045
determined by dividing the present value of the cash flow by the HSBC Short Duration Fund - Institutional Plus Option - Monthly Dividend
price. 30-Dec-11 0.08478 0.07266 10.1200
27-Jan-12 0.05533 0.04742 10.0866
24-Feb-12 0.05663 0.04854 10.0881
HSBC Short Duration Fund - Quarterly Dividend
25-Sep-17 0.14445 0.13383 10.3838
HSBC Short Duration Fund - Quarterly Dividend- Direct Plan
25-Sep-17 0.14445 0.13383 10.4138
26-Dec-17 0.14445 0.13383 10.2960
26-Mar-18 0.07223 0.06692 10.2380
33
HSBC Cash Fund
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. However, there can be no assurance or guarantee that the investment objective of the scheme
would be achieved.

Issuer Market Value % to Net Rating
Date of Allotment 04-Dec-02 (` in Lacs) Assets
Benchmark CRISIL Liquid Fund Index Money Market Instruments
(as on 28.03.18) `1725.5228 Punjab & Sind Bank 14,876.85 5.33% CRISIL A1+
Average Maturity of Axis Bank 9,929.18 3.56% [ICRA]A1+
Portfolio 0.15 years RBL Bank 9,914.90 3.55% [ICRA]A1+
Modified Duration Vijaya Bank 9,906.71 3.55% CRISIL A1+
of Portfolio 0.15 years Vijaya Bank 9,899.75 3.55% CARE A1+
Yield To Maturity* 7.32% Equitas Small Finance Bank 9,890.33 3.54% CRISIL A1+
Monthly Average AUM Ujjivan Small Finance Bank 9,839.60 3.52% CRISIL A1+
(In Lakhs) 4,14,417.67 Yes Bank 7,425.07 2.66% [ICRA]A1+
Fund Manager Kapil Punjabi IDFC Bank 7,403.42 2.65% [ICRA]A1+
SIP IDFC Bank 4,975.57 1.78% [ICRA]A1+
Available
Minimum Axis Bank 4,974.58 1.78% CRISIL A1+
`10,000 (Lumpsum)
IndusInd Bank 2,465.10 0.88% CRISIL A1+
Commercial Paper
IL & FS Financial Services 14,816.82 5.31% CARE A1+
Sub Options Growth, Daily Dividend, Housing Development Finance Corp 14,423.02 5.17% CRISIL A1+
Reinvestment Indostar Capital Finance 9,920.58 3.55% CRISIL A1+
Weekly Dividend, Edelweiss Commodities Services 9,907.17 3.55% CRISIL A1+
Reinvestment, AAdhar Housing finance 9,899.05 3.55% CRISIL A1+
Monthly Dividend (Payout & Dewan Housing Finance Corporation 9,896.90 3.54% CRISIL A1+
Reinvestment) SREI Equipment Finance 9,870.23 3.54% [ICRA]A1+
Exit Load Nil STCI Finance 7,429.98 2.66% CRISIL A1+
STCI Finance 7,421.34 2.66% CRISIL A1+
Weighted Average Monthly Total Expenses ratios JM Financial Capital 7,401.17 2.65% [ICRA]A1+
(Annualized) India Infoline Wealth Finance 4,953.13 1.77% [ICRA]A1+
Regular 0.27% IIFL Wealth Finance 4,952.69 1.77% [ICRA]A1+
Ford Credit India Pvt 4,950.42 1.77% CRISIL A1+
Direct Plan 0.15%
Edelweiss Commodities Services 4,934.50 1.77% CRISIL A1+
Net Assets. Capital First Home Finance 4,931.02 1.77% CARE A1+
Capital First Home Finance 4,930.10 1.77% CARE A1+
Welspun India 4,929.54 1.77% CARE A1+
Asset Allocation Dalmia Bharat Sugars and Ind 4,923.46 1.76% [ICRA]A1+
HSIL 4,920.02 1.76% CARE A1+
Money Market Instruments 99.42% Dalmia Bharat Sugars and Ind 4,919.60 1.76% [ICRA]A1+
Fixed Deposit 11.64% Vedanta 2,478.73 0.89% [ICRA]A1+
Vedanta 2,478.63 0.89% [ICRA]A1+
Bajaj Electricals 2,476.31 0.89% [ICRA]A1+
Net Current Assets -11.07% Edelweiss Commodities Services 2,474.29 0.89% CRISIL A1+
Total Net Assets 100.00% JM Financial Services 2,473.61 0.89% [ICRA]A1+
JM Financial Services 2,472.87 0.89% [ICRA]A1+
JM Financial Services 2,470.72 0.88% [ICRA]A1+
JM Financial Capital 2,468.51 0.88% [ICRA]A1+
JM Financial Products 2,467.14 0.88% [ICRA]A1+
Rating Profile JM Financial Capital 2,464.15 0.88% [ICRA]A1+
Tata Motors Finance 497.10 0.18% CARE A1+
AAA and equivalents 99.42% Tata Capital Financial Services 497.00 0.18% [ICRA]A1+
Fixed Deposit 11.64% Fixed Deposit
Reverse Repos/ CBLOs 0.01% Fixed Deposit
The South Indian Bank 15,000.00 5.37% Fixed Deposit
Net Current Assets -11.07% HDFC Bank 12,500.00 4.48% Fixed Deposit
Total Net Assets 100.00% RBL Bank 5,000.00 1.79% Fixed Deposit
Cash Equivalents
CBLO 13.99 0.01%
Net Current Assets -30,884.54 -11.07%
Total Net Assets as on 31-Mar-2018 2,79,180.26 100.00%
HSBC Cash Fund
Moderate Mo
investors who are seeking*: t el y d Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
era Higerat
odLow h e of dividend declared Non-Institutional Institutional (cum dividend)
• Overnight Liquidity over short
M
ly
term HSBC Cash Fund - Institutional Option - Monthly Dividend

Low
High
• Invests in Money Market 25-Jan-18 3.89848 3.61187 1005.6479

Instruments LOW HIGH 26-Feb-18 4.18499 3.87732 1006.0446
will be at low risk 26-Mar-18 3.96337 3.67199 1005.7377
* Investors should consult their financial advisers if in doubt about HSBC Cash Fund - Monthly Dividend - Direct Plan
whether the product is suitable for them. 25-Oct-17 3.90408 3.61706 1014.0370
27-Nov-17 4.21537 3.90546 1014.4680
26-Dec-17 3.67905 3.40857 1013.7255
HSBC Cash Fund - Institutional Plus Option - Monthly Dividend
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.
34
HSBC Low Duration Fund
An open ended Low Duration Debt Scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months to 12 months.
Investment Objective: To seek to provide liquidity and reasonable returns by investing primarily in a mix of debt and money market instruments such that the
Macaulay duration of the portfolio is between 6 months to 12 months. However there can be no assurance or guarantee that the investment objective of the

Date of Allotment 17-Oct-06 Issuer (` in Lacs) Assets
Benchmark CRISIL Low Duration
Money Market Instruments
Debt Index**
(as on 28.03.18) `15.2587
IndusInd Bank 2,468.55 4.49% CRISIL A1+
Average Maturity of
Portfolio 1.03 years Kotak Mahindra Bank 2,467.30 4.49% CRISIL A1+
Modified Duration
AU Small Finance Bank 2,418.81 4.40% Fitch A1+
of Portfolio 0.93 years
Yield To Maturity* 7.67% Small Industries Development Bank of India 2,356.52 4.29% CARE A1+
Monthly Average AUM 58,627.53
(In Lakhs) Axis Bank 2,345.04 4.27% [ICRA]A1+
Fund Managers Kapil Punjabi Yes Bank 2,342.74 4.27% [ICRA]A1+
AU Small Finance Bank 2,326.67 4.24% CRISIL A1+

SIP Available Commercial Paper
Application Amount `1,000 p.m.(SIP) Edelweiss Commodities Services 4,626.81 8.42% CRISIL A1+
Sub Options Growth, Daily Dividend, Dewan Housing Finance Corporation 2,411.98 4.39% CRISIL A1+
Reinvestment
Weekly Dividend, Corporate/ PSU Debt
Reinvestment
Monthly Dividend (Payout &
Reinvestment) Dewan Housing Finance Corporation 3,520.83 6.41% CARE AAA
Nil Cholamandalam Investment & Fin Co 2,508.87 4.57% [ICRA]AA

Exit Load
Energy Efficiency Services 2,505.96 4.56% [ICRA]AA
(Annualized) CLP Wind Farm India Pvt 2,501.29 4.55% Fitch AA
Regular 1.00%
Power Finance Corporation 2,495.50 4.54% CARE AAA
Direct Plan 0.20%
Excludes GST on Investment Management fees of 0.04% of Total Tata Capital Financial Services 2,491.58 4.54% [ICRA]AA+
Net Assets.
Aditya Birla Finance 2,481.20 4.52% [ICRA]AA+
** CRISIL Low Duration Debt Index.
Orix Leasing & Financial Services 2,444.18 4.45% Fitch AAA
(previously named as CRISIL Ultra Short Term Debt Index)
(previous benchmark CRISIL Liquid Fund Index - 90%, CRISIL
Tata Capital Financial Services 2,000.17 3.64% CRISIL AA+
Short Term Bond Fund Index - 10%.)
Small Industries Development Bank of India 988.76 1.80% CARE AAA
* Based on invested Amount
East North Interconnection Company 751.35 1.37% CRISIL AAA (SO)
Asset Allocation Zero Coupon Bonds
Corporate/ PSU Debt 49.93% JM Financial Products 2,735.02 4.98% CRISIL AA
Money Market Instruments 43.26%
Cash Equivalents
CBLO 5.73 0.01%
Total Net Assets 100.00% Reverse Repos 2,943.61 5.36%
Net Current Assets 788.46 1.44%

Rating Profile Total Net Assets as on 31-Mar-2018 54,926.93 100.00%
AAA and equivalents 61.83%

AA+/AA-/ AA and equivalents 31.36%
Reverse Repos/ CBLOs 5.37% of dividend declared Non-Institutional Institutional (cum dividend)
HSBC Low Duration Fund - Institutional Option - Monthly Dividend
25-Jan-18 0.03091 0.02863 10.1696
Total Net Assets 100.00% 26-Feb-18 0.03143 0.02912 10.1703
26-Mar-18 0.04543 0.04209 10.1897
HSBC Low Duration Fund - Monthly Dividend - Direct Plan
HSBC Low Duration Fund
25-Jan-18 0.03638 0.03370 10.3801
Riskometer
26-Feb-18 0.03729 0.03455 10.3813
This product is suitable for t el y
Moderate Mo
d
era Higerat 26-Mar-18 0.05090 0.04716 10.4002
investors who are seeking*: odLow h e
M
ly
• Liquidity over short term HSBC Low Duration Fund - Institutional Plus Option - Monthly Dividend
• Investment in a mix of debt and 28-Jan-11 0.04829 0.04501 10.3821
Low
High
money market instruments such 25-Feb-11 0.04125 0.03845 10.3741

that the Macaulay^ duration of LOW HIGH 25-Mar-11 0.05214 0.04859 10.3865
the portfolio is between 6 Investors understand that their principal
months to 12 months. will be at Moderately Low risk Upon payment of dividend, the NAV per unit falls to the extent of payout and statutory levy, if any. Face value: `10 per unit.

^ The Macaulay duration is the weighted average term to maturity
of the cash flows from a bond. The weight of each cash flow is
determined by dividing the present value of the cash flow by the
price.
35
HSBC Flexi Debt Fund
An open ended Dynamic Debt Scheme investing across duration.
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 money market instruments. However there
can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Date of Allotment 05-Oct-07 Issuer (` in Lacs) Assets
Benchmark CRISIL Composite Bond Corporate/ PSU Debt
Fund Index
Tata Sons 1,697.18 7.33% CRISIL AAA
(as on 28.03.18) `22.7522
Average Maturity of Bajaj Finance 1,578.70 6.82% CRISIL AAA
Portfolio 6.77 years
Power Finance Corporation 1,557.00 6.72% CRISIL AAA
Modified Duration
4.83 years National Highways Authority of India 1,494.78 6.46% CRISIL AAA
of Portfolio
NABARD 1,287.22 5.56% CRISIL AAA
Yield To Maturity*
7.75% Government Securities
Monthly Average AUM
27,121.12
(In Lakhs) 6.79% GOVT OF INDIA RED 15-05-2027 2,653.24 11.46% SOVEREIGN
6.68% GOVT OF INDIA RED 17-09-2031 2,301.27 9.94% SOVEREIGN
Sanjay Shah
Fund Manager
Available 8.53% BIHAR SDL RED 30-03-2022 2,056.17 8.88% SOVEREIGN
SIP
`10,000 (Lumpsum) 8.24% GOVT OF INDIA RED 15-02-2027 1,965.58 8.49% SOVEREIGN
Minimum
Application Amount `1,000 p.m.(SIP) 8.39% RAJASTHAN SPL SDL RED 15-03-2024 1,631.27 7.05% SOVEREIGN
Exit Load Nil
8.60% GOVT OF INDIA RED 02-06-2028 1,336.31 5.77% SOVEREIGN
Weighted Average Monthly Total Expenses ratios 7.17% GOVT OF INDIA RED 08-01-2028 1,012.29 4.37% SOVEREIGN
(Annualized)
Regular 1.60%
Direct Plan 0.85% 6.84% GOVT OF INDIA RED 19-12-2022 313.98 1.36% SOVEREIGN
Excludes GST on Investment Management fees of 0.15% of Total Cash Equivalents
Net Assets.
CBLO 3.26 0.01%
* Based on invested Amount
Reverse Repos 1,674.95 7.23%
Asset Allocation Net Current Assets 220.28 0.94%
Government Securities 58.92% Total Net Assets as on 31-Mar-2018 23,152.83 100.00%
Corporate/ PSU Debt 32.89%

Total Net Assets 100.00% Record Date / period Dividend (`per unit) Dividend (`per unit) NAV (`) per unit
HSBC Flexi Debt Fund - Regular Option - Monthly Dividend
26-Apr-13 0.05836 0.04973 10.4949
Rating Profile 31-May-13 0.11214 0.10740 10.6718
28-Jun-13 0.03263 0.03125 10.4175
SOVEREIGN 58.92% HSBC Flexi Debt Fund - Institutional Option - Monthly Dividend
AAA and equivalents 32.89% 25-Nov-16 0.32168 0.29803 11.0304
27-Jun-17 0.01324 0.01227 10.6036
Reverse Repos/ CBLOs 7.25% 25-Jul-17 0.04532 0.04199 10.6481
Net Current Assets 0.94% HSBC Flexi Debt Fund - Monthly Dividend - Direct Plan
25-Aug-15 0.06760 0.06263 10.8080
Total Net Assets 100.00% 28-Sep-15 0.09852 0.09127 10.8504
26-Oct-15 0.11441 0.10600 10.8719
HSBC Flexi Debt Fund - Regular Option - Quarterly Dividend
25-Mar-15 0.18147 0.16829 12.2052
25-Jun-15 0.18057 0.16729 11.8869
HSBC Flexi Debt Fund
28-Sep-15 0.18057 0.16729 11.9644
Riskometer
This product is suitable for HSBC Flexi Debt Fund - Institutional Option - Quarterly Dividend
Moderate Mo
investors who are seeking*: t el y d 27-Mar-17 0.18057 0.16729 11.8718
era Higerat
odLow h e
• Regular Income over long 27-Jun-17 0.14445 0.13383 11.9288
M
ly
term 25-Sep-17 0.18057 0.16729 11.7832

Low
High
• Investment in Debt / Money HSBC Flexi Debt Fund - Quarterly Dividend - Direct Plan
Market Instruments LOW HIGH 25-Sep-17 0.18057 0.16729 12.2547
Investors understand that their principal 26-Dec-17 0.18057 0.16729 11.8705
will be at Moderate risk
26-Mar-18 0.18057 0.16729 11.5809
* Investors should consult their financial advisers if in doubt about HSBC Flexi Debt Fund - Regular Option - Half Yearly Dividend
whether the product is suitable for them. 14-Sep-12 0.35236 0.30201 11.4315
15-Mar-13 0.35236 0.30201 11.6629
HSBC Flexi Debt Fund - Institutional Option - Half-yearly Dividend
27-Mar-17 0.36113 0.33458 12.2875
25-Sep-17 0.36113 0.33458 12.1555
26-Mar-18 0.28891 0.26767 11.4423
HSBC Flexi Debt Fund - Half-yearly Dividend - Direct Plan
27-Mar-17 0.36113 0.33458 11.7165
25-Sep-17 0.36113 0.33458 11.6099
26-Mar-18 0.28891 0.26767 10.9480
36
Name of Scheme Fund Manager
HSBC Regular Savings Fund For Debt portion: Sanjay Shah (from 14 August 2009) & For
Equity portion: Aditya Khemani (from 24 February 2009)
HSBC Debt Fund Sanjay Shah (from 09 January 2009)
HSBC Short Duration Fund Sanjay Shah (from 09 January 2009) & Kapil Punjabi (from 23 December 2016)
HSBC Cash Fund Kapil Punjabi (from 14 March 2014)
HSBC Low Duration Fund Kapil Punjabi (from 18 October 2014)
HSBC Flexi Debt Fund Sanjay Shah (from 09 January 2009)
Fund Manager’s Experience

Sanjay Shah
Senior Vice President Head - Fixed Income
B. Com, A.C.A., Post Graduate Diploma in Management
Experience:
Over 18 years of experience in research and fund management
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 Ltd
Vice President, Convertible Products from September 2006 to September 2008
Rabo India Finance Private Ltd
Senior Manager – Credit Risk from July 2004 to September 2006
ICICI Bank Ltd
Manager, Credit Risk from January 2003 to June 2004
SBI Funds Management Private Ltd
Chief 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 Limited
Fund Manager Fixed Income from June 07, 2012 to February 27, 2014.
Edelweiss Asset Management Limited
Fund Manager Fixed Income from December 05, 2009 to June 06, 2012.
Edelweiss Securities Limited
Manager - Investments from October 2007 to November 2009
Trans Market Group Research (India) Private Limited
Research Analyst and Proprietary Trader from May 2006 to October 2007.
37
Fund Manager Wise Comparative Performance of Debt Schemes
Funds Managed by Sanjay Shah (for Debt portion) (Total Schemes Managed 10)
Funds Managed by Aditya Khemani (for Equity portion) (Total Schemes Managed 2)
#
HSBC Regular Savings Fund Date of Inception : 24 Feb 04

Inception
HSBC Regular Savings Fund - Growth 4.06% 6.37% 9.19% 9.26%
(CRISIL Hybrid 85+15 - Conservative Index) (Scheme Benchmark) 6.54% 8.59% 9.78% 8.21%
Crisil 1 Year T-Bill Index (Standard Benchmark) 5.89% 7.00% 7.05% 5.99%
Crisil 10 Year Gilt Index (Standard Benchmark) -0.25% 6.45% 6.42% 5.37%
`10,000, if invested in HRSF, would have become `10,407 `12,039 `15,525 `34,854
`10,000, if invested in CRISIL Hybrid 85+15 - Conservative Index, would `10,656 `12,810 `15,949 `30,417
have become
`10,000, if invested in Crisil 1 Year T-Bill Index, would have become `10,591 `12,255 `14,061 `22,709
`10,000, if invested in Crisil 10 Year Gilt Index, would have become `9,975 `12,067 `13,652 `20,906
The said Fund is managed by Sanjay Shah Effective (14 August 2009)
The said Fund is managed by Aditya Khemani Effective (24 February 2009)
Funds Managed by - Sanjay Shah (Total Schemes Managed 10)
HSBC Debt Fund# Date of Inception : 10 Dec 02

Inception
HSBC Debt Fund - Growth 1.73% 5.29% 6.38% 6.88%
Crisil Composite Bond Fund Index (Scheme Benchmark) 5.17% 8.21% 8.60% 6.75%
`10,000, if invested in HDF, would have become `10,173 `11,676 `13,626 `27,689
`10,000, if invested in Crisil Composite Bond Fund Index, would have become `10,518 `12,676 `15,109 `27,178
The said Fund is managed by Sanjay Shah Effective (09 January 2009)
Funds Managed by - Sanjay Shah (Total Schemes Managed 10)
HSBC Flexi Debt Fund Date of Inception: 05 Oct 07

Inception
HSBC Flexi Debt Fund - Growth 2.26% 5.74% 6.98% 8.16%
Crisil Composite Bond Fund Index (Scheme Benchmark) 5.17% 8.21% 8.60% 7.74%
`10,000, if invested in HFDF, would have become `10,227 `11,826 `14,015 `22,746
`10,000, if invested in Crisil Composite Bond Fund Index, would have become `10,518 `12,676 `15,109 `21,838
#
38
Fund Manager Wise Comparative Performance of Debt Schemes
Funds Managed by Sanjay Shah (Total Schemes Managed 10)
Funds Managed by Kapil Punjabi (Total Schemes Managed 3)
HSBC Short Duration Fund# Date of Inception : 10 Dec 02

Inception
HSBC Short Duration Fund - Growth 5.69% 7.15% 7.71% 7.06%
Crisil Short Term Bond Fund Index (Scheme Benchmark) 6.21% 7.97% 8.56% 7.12%
`10,000, if invested in HSDF, would have become `10,571 `12,307 `14,500 `28,412
`10,000, if invested in Crisil Short Term Bond Fund Index, would have become `10,623 `12,592 `15,082 `28,657
The said Fund is managed by Kapil Punjabi Effective (23 December 2016)
Funds Managed by - Kapil Punjabi (Total Schemes Managed 3)

$#
HSBC Low Duration Fund Date of Inception :17 Oct 06

Inception
HSBC Low Duration Fund - Growth 6.40% 7.26% 7.98% 8.00%
CRISIL Low Duration Debt Index (Scheme Benchmark)* 6.87% 8.15% 8.66% 8.69%
`10,000, if invested in HLDF, would have become `10,642 `12,345 `14,683 `15,262
`10,000, if invested in Customised Benchmark Index, would have become `10,689 `12,655 `15,151 `15,808
The said Fund is managed by Kapil Punjabi Effective (18 October 2014)
Funds Managed by - Kapil Punjabi (Total Schemes Managed 3)
HSBC Cash Fund Date of Inception: 04 Dec 02
Scheme Name & Benchmarks Last 7 Days Last 15 Days Last 30 Days 1 Year 3 Years 5 Years Since
as on 28 as on 28 as on 28 Inception
Mar 2018 Mar 2018 Mar 2018
HSBC Cash Fund - Growth 6.63% 6.66% 6.62% 6.78% 7.39% 8.10% 8.27%
Crisil Liquid Fund Index (Scheme

Benchmark) 6.85% 6.82% 6.98% 6.86% 7.37% 8.09% 8.17%
Crisil 91 Day T-Bill Index (Standard

Benchmark) 6.38% 6.50% 6.62% 6.38% 7.00% 7.66% 7.77%
`10,000, if invested in HCF, would have

become `10,013 `10,027 `10,054 `10,678 `12,390 `14,765 `17,259
`10,000, if invested in Crisil Liquid Fund

Index, would have become `10,013 `10,028 `10,057 `10,686 `12,383 `14,758 `17,142
`10,000, if invested in Crisil 91 Day T-Bill

`10,012 `10,027 `10,054 `10,638 `12,255 `14,466 `16,717
Index, would have become
The said Fund is managed by Kapil Punjabi Effective (14 March 2014)
* Benchmark of the scheme is changed to CRISIL Ultra Short Term Debt Index effective 14 March 2018, which is now renamed to Crisil Low Duration Debt Index.
#
The returns for the respective periods are provided as on Last business day of March 2018 for the respective Schemes. 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
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.
39
Section II - How to read Factsheet
Fund Manager
An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is
usually part of a larger team of fund managers and research analysts.
Application Amount for Fresh Subscription

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

This is the minimum investment amount for an existing investor in a mutual fund scheme.
Yield to Maturity
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 YTM
factors in the bond's current market price, par value, coupon interest rate and time to maturity.
SIP
SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank
deposit. For instance, an investor may opt for an SIP that invests `500 every 15th of the month in an equity fund for a period of three years.
NAV
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. The
NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund.
Benchmark
A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of
mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec.
Entry Load
A mutual 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 the
time 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, if
the NAV is `100 and the entry load is 1%, the investor will enter the fund at `101.
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 the
distributor, based on his assessment of various factors including the services rendered by the distributor.
Exit Load
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 of
redemption. For instance, if the NAV is Rs 100 and the exit load is 1%, the redemption price would be `99 per unit.
Modified Duration
Modified duration is the price sensitivity and the percentage change in price for a unit change in yield.
Standard Deviation
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.
Sharpe Ratio
The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using
standard deviation and excess return to determine reward per unit of risk.
Beta
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 the
market. A beta of greater than 1 implies that the security's price will be more volatile than the market.
AUM
AUM or assets under management refers to the recent I updated cumulative market value of investments managed by a mutual fund or any
investment firm.
Holdings
The holdings or the portfolio is a mutual fund's latest or updated reported statement of investments/securities. These are usually displayed in
terms 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 invested
by the fund manager.
Nature of Scheme
The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims
at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital
preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories.
Rating Profile
Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various
investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds.
40
Statutory Details & Disclaimers
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 HSBC Asset 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.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
HSBC Asset Management (India) Private Limited,
16, V.N. Road, Fort, Mumbai-400001
Tel. : 1800-200-2434 OR +91 44 39923900 to connect to our customer care centre.
Fax : 022-49146254 Email : hsbcmf@camsonline.com Website : www.assetmanagement.hsbc.com/in
HSBC Mutual Fund Investor Service Centres :
Ahmedabad : Mardia Plaza, CG. Road, Ahmedabad - 380 006.
Bengaluru : No. 7, HSBC Centre, M.G. Road, Bengaluru - 560 001.
Chennai : No. 13, Rajaji Salai, 2nd Floor, Chennai -600 001.
Hyderabad : 6-3-1107 & 1108, Rajbhavan Road, Somajiguda, Hyderabad - 50082.
Kolkata : 31 BBD Bagh, Dalhousie Square, Kolkata - 700001.
Mumbai : 16, V.N. Road, Fort, Mumbai - 400 001.
New Delhi : Ground Floor, East Tower, Birla Tower, 25, Barakhamba Road, New Delhi - 110 001.
Pune : Amar Avinash Corporate City, Sector No. 11, Bund Garden Road, Pune - 411011.
Chandigarh: SCO 1, Sector 9 D, Chandigarh-160017.

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The Asset Factsheet March 2018

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The Asset

Factsheet - March 2018

HSBC Debt Fund 32

HSBC Flexi Debt Fund 36

Fund Manager Wise Comparative Performance of Debt Schemes 38

Source: Bloomberg; Bombay Stock Exchange (BSE)

CPI Inflation (%)

Consumer Price Index (CPI)

Source: Bloomberg; Central Statistical Organization (CSO) India

Index of Industrial Production or IIP

Index of Industrial Production (IIP)* new series data

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

10% Repo Rate Movement

Source: Bloomberg, for all data except where mentioned otherwise

Sectors HSBC HSBC

Review: HSBC Large Cap Equity Fund

Review: HSBC Multi Cap Equity Fund

Review: HSBC Dynamic Asset Allocation Fund

Review: HSBC Regular Savings Fund

FUND DETAILS FUND PORTFOLIO

• To create wealth over long

28-Dec-17 3.50000 3.50000 33.2519

• Investment in predominantly 10-Nov-15 3.70000 3.70000 30.0806

term 10-Nov-15 1.50000 1.50000 23.4738

24-Mar-17 1.50000 1.50000 28.1677

FUND DETAILS FUND PORTFOLIO

HSBC Small Cap Equity Fund - Dividend

• Investment in predominantly 10-Nov-15 2.50 2.50 20.1838

FUND DETAILS FUND PORTFOLIO

Regular 2.51% Rural Electrification Corporation 298.03 1.82%

Direct Plan 1.81% Gas

This product is suitable for Riskometer Dividend Declaration

HSBC Infrastructure Equity Fund Dividend

related securities, primarily in 26-May-08 1.00 1.00 13.7160

* Investors should consult their financial advisers if in doubt about

FUND DETAILS FUND PORTFOLIO

term HSBC Tax Saver Equity Fund Dividend

• Invests in equity and equity 23-Mar-16 1.50000 1.50000 19.4675

Sanjay Shah ICICI Bank 250.52 5.94%

No Exit Load will be charged if Larsen & Toubro 262.18 6.21%

Auto 9.03% NTPC 149.34 3.54%

HSBC Dynamic Asset Allocation Fund

investors who are seeking*: Moderate Mo

• Invests in equity and equity

* Investors should consult their financial advisers if in doubt about

FUND DETAILS FUND PORTFOLIO

Statistical ratios disclosed as per monthly returns (absolute) for

HSBC Global Emerging Markets Fund

units of HSBC Global Investment

* Investors should consult their financial advisers if in doubt about

FUND DETAILS FUND PORTFOLIO

NAV (Growth) per unit

Monthly Average AUM

Weighted Average Monthly Total Expenses ratios

Statistical ratios disclosed as per monthly returns (absolute) for

HSBC Asia Pacific (Ex Japan)Dividend Yield Fund

This product is suitable for Riskometer

related securities of Asia Pacific

* Investors should consult their financial advisers if in doubt about

FUND DETAILS FUND PORTFOLIO

Weighted Average Monthly Total Expenses ratios

Statistical ratios disclosed as per monthly returns (absolute) for

HSBC Brazil Fund

• Invests in equity and equity