HSBC Mutual Fund
HSBC Mutual Fund
Introduction
HSBC Mutual Fund is the Indian asset management arm of HSBC Asset Management, the global asset management business of HSBC Holdings plc, one of the world's largest banking and financial services organizations. HSBC Mutual Fund commenced its operations in India in 2002.
A significant milestone in HSBC Mutual Fund's journey in India was the acquisition of L&T Mutual Fund in 2022. This strategic acquisition substantially increased HSBC Mutual Fund's Assets Under Management (AUM) and expanded its presence across India, significantly bolstering its product offerings and distribution reach. The integration of L&T Mutual Fund's schemes and client base has positioned HSBC Mutual Fund as a more formidable player in the highly competitive Indian mutual fund industry.
HSBC Mutual Fund aims to leverage its global expertise, robust research capabilities, and the expanded local footprint to provide a diverse range of investment solutions to Indian retail and institutional investors.
Fund Managers
HSBC Mutual Fund has a well-structured and experienced investment team overseeing its equity, fixed income, and hybrid schemes. The leadership includes seasoned professionals:
- Mr. Venugopal Manghat: Chief Investment Officer (CIO) - Equities.
- Mr. Shriram Ramanathan: Chief Investment Officer (CIO) - Fixed Income.
The broader fund management team, which manages various schemes, includes:
- Mr. Neelotpal Sahai (Director, Indian Equities & Head Offshore Advisory)
- Ms. Cheenu Gupta (Fund Management - Equities)
- Mr. Gautam Bhupal (Fund Management - Equities)
- Mr. Siddharth Vora (Fund Management - Equities)
- Mr. Abhishek Gupta (Fund Management - Equities)
- Mr. Praveen Ayathan (Fund Management - Equities, Arbitrage)
- Mr. Sonal Gupta (Fund Management - Offshore Fund of Funds)
- Mr. Mahesh Chhabria (Fund Management - Fixed Income)
- Mr. Mohd Asif Rizwi (Fund Management - Fixed Income)
- Mr. Harsh Shah (Fund Management - Fixed Income)
- Mr. Hitesh Gondhia (Fund Management - Fixed Income, Arbitrage)
- Mr. Rajeesh Nair (Fund Manager)
- Mr. Anish Goenka (Fund Manager)
This team brings a wealth of experience and diverse perspectives to manage the fund portfolios under HSBC Mutual Fund.
Scope and Investment Philosophy
HSBC Mutual Fund's investment philosophy is rooted in a disciplined, research-driven approach that combines global insights with local market understanding. Their core principles and scope include:
- Client-Centricity and Fiduciary Responsibility: Placing clients' interests at the forefront, aiming to safeguard assets and deliver on investment objectives.
- Global Expertise, Local Insight: Leveraging HSBC's extensive global research network and investment expertise, combined with deep local market knowledge, to identify attractive investment opportunities in India.
- Structured and Disciplined Process: Employing a rigorous and repeatable investment framework, executed by empowered and accountable teams. This involves in-depth due diligence and continuous monitoring.
- Fundamental Research: Strong emphasis on fundamental analysis for both equity (stock screening, analysis, portfolio construction) and fixed income (factor process, credit evaluation, risk management).
- Integrated Risk Management: Evaluating potential investment risk as much as potential return, with robust tools and processes to manage credit, liquidity, and interest rate risks efficiently.
- Responsible Investing (ESG): Fully integrating Environmental, Social, and Governance (ESG) analysis into their investment culture and processes to identify potential risks and returns over the longer term.
- Comprehensive Product Range: Offering a wide array of solutions across equity, debt, hybrid, multi-asset, and passive categories to cater to diverse investment goals and risk profiles.
- Long-Term Value Creation: Aiming to deliver sustainable long-term value by managing both performance and risk effectively.
Part 2: List of Funds with Brief Explanation
With the acquisition of L&T Mutual Fund, HSBC Mutual Fund now offers a comprehensive suite of schemes. Many L&T schemes were merged with existing HSBC schemes or renamed. Here's a categorized list of some of their prominent active funds:
Equity Funds:
- HSBC Flexi Cap Fund: An open-ended equity scheme with the flexibility to invest across large-cap, mid-cap, and small-cap stocks, allowing dynamic allocation based on market opportunities. (Surviving scheme after merging L&T Flexicap Fund)
- HSBC Large Cap Fund: An open-ended equity scheme investing predominantly in large-cap stocks, focusing on established, stable companies. (Surviving scheme after merging L&T India Large Cap Fund)
- HSBC Large and Mid Cap Fund: An open-ended equity scheme that invests in a mix of large-cap and mid-cap companies, combining the stability of large caps with the growth potential of mid caps. (Surviving scheme after merging L&T Large & Mid Cap Fund)
- HSBC Midcap Fund: An open-ended equity scheme investing predominantly in mid-cap stocks, targeting companies with strong growth potential. (Surviving scheme after merging L&T Midcap Fund)
- HSBC Small Cap Fund: An open-ended equity scheme investing predominantly in small-cap stocks, aiming for high growth from smaller companies, typically associated with higher risk and volatility. (Surviving scheme after merging L&T Emerging Businesses Fund)
- HSBC Focused Fund: An equity scheme investing in a concentrated portfolio of high-conviction stocks across market capitalizations. (Surviving scheme after merging L&T Focused Equity Fund)
- HSBC Value Fund: An equity scheme that follows a value investing strategy, seeking undervalued stocks with strong fundamentals.
- HSBC ELSS Tax Saver Fund: An Equity Linked Savings Scheme (ELSS) that invests predominantly in equities and qualifies for tax deductions under Section 80C, with a 3-year statutory lock-in.
- HSBC Multi Cap Fund: An open-ended equity scheme that invests across large-cap, mid-cap, and small-cap stocks with specific minimum allocations to each.
- HSBC Business Cycles Fund: A thematic equity fund investing in companies that are expected to benefit from various phases of the economic cycle.
- HSBC Consumption Fund: A thematic equity fund focusing on companies in the consumption sector, aiming to benefit from India's growing consumer market.
- HSBC Infrastructure Equity Fund: A thematic equity fund focusing on companies that are expected to benefit from reforms and growth in the infrastructure and related sectors.
- HSBC India Opportunities Fund: An equity scheme that invests in companies with significant growth potential due to various market opportunities.
- HSBC Financial Services Fund: A sectoral fund investing in companies within the banking and financial services sector.
Debt Funds:
- HSBC Liquid Fund: A debt liquid fund that invests in very short-term money market instruments, offering high liquidity and aiming for stable, low-risk returns. (Surviving scheme after merging L&T Liquid Fund)
- HSBC Overnight Fund: A debt overnight fund that invests in debt and money market instruments with a maturity of one day, offering maximum liquidity. (Surviving scheme after merging L&T Overnight Fund)
- HSBC Ultra Short Duration Fund: A debt ultra-short duration fund investing in debt instruments with very short maturities. (Surviving scheme after merging L&T Ultra Short Term Fund)
- HSBC Low Duration Fund: A debt low duration fund investing in debt instruments with a relatively low portfolio duration. (Surviving scheme after merging L&T Low Duration Fund)
- HSBC Short Duration Fund: A debt short duration fund that invests in debt and money market instruments with short maturities. (Surviving scheme after merging L&T Short Term Bond Fund)
- HSBC Corporate Bond Fund: A debt fund that invests predominantly in corporate bonds of high-rated companies, aiming for stable income. (Surviving scheme after merging L&T Triple Ace Bond Fund)
- HSBC Banking & PSU Debt Fund: A debt fund that primarily invests in debt instruments issued by banks and Public Sector Undertakings (PSUs). (Surviving scheme after merging L&T Banking and PSU Debt Fund)
- HSBC Gilt Fund: A debt gilt fund that invests predominantly in government securities (G-Secs), which carry no credit risk. (Surviving scheme after merging L&T Gilt Fund)
- HSBC Dynamic Bond Fund: A debt dynamic bond fund that dynamically manages its portfolio duration based on interest rate views. (Surviving scheme after merging L&T Dynamic Bond Fund)
- HSBC Medium to Long Duration Fund: A debt fund investing in instruments with a medium to long Macaulay duration.
- HSBC Credit Risk Fund: A debt credit risk fund that primarily invests in relatively lower-rated corporate bonds for potentially higher yields but with higher credit risk. (Surviving scheme after merging L&T Credit Risk Fund)
Hybrid Funds:
- HSBC Balanced Advantage Fund: A hybrid dynamic asset allocation fund that dynamically adjusts its allocation between equity and debt based on market valuations and other parameters.
- HSBC Aggressive Hybrid Fund: An open-ended aggressive hybrid fund that invests a higher proportion in equities for growth and a smaller portion in debt for stability.
- HSBC Equity Savings Fund: A hybrid equity savings fund that invests in equity, debt, and arbitrage opportunities, aiming for relatively stable and tax-efficient returns. (Surviving scheme after merging L&T Equity Savings Fund)
- HSBC Arbitrage Fund: A hybrid arbitrage fund that aims to generate returns by capitalizing on price differences between the cash and derivatives segments of the equity market, with the balance in debt instruments. (Surviving scheme after merging L&T Arbitrage Opportunities Fund)
Index Funds & ETFs:
- HSBC Nifty 50 Index Fund: An index fund that passively tracks the Nifty 50 Index. (Surviving scheme after merging L&T Nifty 50 Index Fund)
- HSBC Nifty Next 50 Index Fund: An index fund that passively tracks the Nifty Next 50 Index. (Surviving scheme after merging L&T Nifty Next 50 Index Fund)
International Funds:
- HSBC Global Equity Climate Change Fund of Fund: A fund of funds that invests in an underlying global fund focusing on companies addressing climate change.
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