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The Asset

Factsheet – March 2017

Index

Fund Manager Commentary

HSBC Equity Fund

HSBC India Opportunities Fund

HSBC Midcap Equity Fund

HSBC Infrastructure Equity Fund

HSBC Tax Saver Equity Fund

HSBC Dividend Yield Equity Fund

HSBC Emerging Markets Fund

HSBC Brazil Fund

HSBC Managed Solutions India - Growth

HSBC Managed Solutions India - Moderate

HSBC Managed Solutions India - Conservative

Fund Managers - Equity

Fund Manager Wise Comparative Performance of Equity Schemes

HSBC Monthly Income Plan

HSBC Dynamic Fund

HSBCAsia Pacific (Ex Japan) Dividend Yield Fund

HSBC Income Fund - Investment Plan

HSBC Income Fund - Short Term Plan

HSBC Cash Fund

HSBC Ultra Short Term Bond Fund

HSBC Flexi Debt Fund

Fund Managers - MIP & Debt

Comparative Performance of Debt Schemes

Section II - How to read Factsheet

HSBC Global Consumer Opportunities Fund

SIP Performance of Equity Schemes

Fund Manager Wise

01

05

06

07

08

09

10

11

12

13

14

15

16

17

19

21

26

31

32

33

34

35

36

37

38

40

18

-

Equity markets surged higher

Equity Market Outlook

Equity market indices surged higher on the back of a resounding victory for the ruling party in the key state elections, combined with strong FII

inflows. BSE Sensex and NSE CNX Nifty traded strong during the month and were up 3.1% & 3.3% respectively, while the mid and small cap

indices outperformed the large cap indices for the third month running. BSE Midcap and Smallcap indices were up 4% and 5.4% respectively

during the month.

Bhartiya Janata Party (BJP) won a landslide victory in the assembly elections for the key state of Uttar Pradesh, an outcome that was keenly

followed by the market participants. BJP and its allies formed governments in 4 out of 5 states that went to polls during this assembly election

cycle.

Goods and Services Tax (GST) is now closer to reality with the Lok Sabha approving four supplementary legislations, though clarity on thefinal products classification under the four different tax slabs is still awaited. As part of finalising the operational aspects, the GST Counciltentatively approved four sets of rules on aspects like invoice and payment apart from the five sets of rules approved earlier. The governmentis working with an implementation date of 01 July 2017.

It was a strong month on the Foreign Institutional Investors (FII) flows front with about USD 5.14 bn of net inflows, recording a 77- month highon the monthly net inflows figure. The YTD net inflows from the FII segment now stands at an impressive figure of about USD 6.69 bn. Therewas a reversal in the net inflows trend from the Domestic Institutional Investors (DII) segment though, as they turned net sellers after 6consecutive months of net inflows.

The INR saw further appreciation versus the USD (up 2.8% MoM) and closed at 64.85 to the USD, a level last seen during Oct / Nov 2015period. From the recent peak levels seen during Nov 2016, the INR has seen an appreciation of about 6%.

FII segment saw substantial net inflows, registering a multi-year high on the monthly inflows during March 2017. FIIs net bought equities

worth about USD 5.14 bn during the month and this has taken their YTD tally to about USD 6.69 bn of net inflows. The Domestic Institutional

Investors (DIIs) on the other hand continued to see a similar trend of net inflows from MFs and outflows from the Insurers. However, the net

inflows trend seen from the DIIs reversed after 6 months and the segment saw net outflows to the tune of about USD 654 mn, as the domestic

insurers saw net outflows of about USD 1.3 bn. The MFs on the other hand saw net inflows of about USD 651 mn for the month. On YTD basis,

MF segment has seen net inflows of about USD 1.72 bn, while the insurance segment has seen net outflows to the tune of about USD 1.54

bn.

On expected lines, the US federal reserve in its March meeting decided on a 25 bps rate hike, that took the federal funds rate range between

0.75% - 1%. This was the third rate hike since December 2015 and signals from the meeting suggested that there could be two more rate

hikes in 2017. March saw global equities edge higher for a fifth straight month with the MSCI AC World Index rising by 0.8% (this index is up

5.9% on YTD basis), supported by a continuation of upbeat economic data releases, and a slightly more dovish tone from the March Federal

Reserve meeting than expected. Within Developed Markets, US equities traded flat during the month, on the back of the uncertainty over the

policy outlook under the new administration, as well as lower oil prices due to renewed supply glut concerns. Lack of clarity in the US policy

also pushed the US dollar lower against most major currencies.

External

Global Economic Scenario

Institutional Fund Flows

After a strong performance during the first quarter of the calendar year, equity markets are currently trading slightly above the historicalaverages. The BSE Sensex has gained an impressive 11.2% on a CYTD basis, while the Nifty has moved up by 12.1% for the same period.Both BSE Midcap & Smallcap indices have outperformed the market indices and are up 17.2% & 19.8% respectively for the Jan-Mar 2017quarter. Looking ahead, the key factors to consider would be the GST implementation timeline, the progress of the monsoon (there has beena prediction of a below normal monsoon this year by a private agency) and how the 4QFY17 earnings season will pan out given that themarkets are currently trading slightly above the historical averages.

Moving into FY 2018, we expect a continuation of the economic recovery process domestically, led by better margins – due to lower input andinterest costs and followed by a volume recovery. Government led investment spending and urban consumption are likely to lead with privatesector investments and rural consumption contributing later. On the policy front, Government has done its fair bit to improve the investmentenvironment and the GST, a mega tax reform is now closer to reality. The ruling party at the centre has done well in the recent state assemblyelections, especially in the key state of Uttar Pradesh and this is likely to provide it with the political capital to pursue and implement economicreforms more aggressively. Risks are in the form of market valuations trending above historical averages and the chances of a deficientrainfall during this monsoon season. External news flow would also influence market performance in the near term, as the recent rally in themarkets was supported by strong FII inflows.


01

Source: Bloomberg; Bombay Stock Exchange (BSE)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

Sensex Nifty BSE200 BSE500 BSE

MidCap

BSE

SmallCap

Indices Performance - Mar 2017

-5.0%

0.0%

5.0%

10.0%

15.0%

Ja

n/1

3

Mar/

13

May/1

3

Ju

l/13

Sep

/13

No

v/1

3

Ja

n/1

4

Mar/

14

May/1

4

Ju

l/14

Sep

/14

No

v/1

4

Ja

n/1

5

Mar/

15

May/1

5

Ju

l/15

Sep

/15

No

v/1

5

Ja

n/1

6

Mar/

16

May/1

6

Ju

l/16

Sep

/16

No

v/1

6

Ja

n/1

7

Index of Industrial Production (IIP)

IIP YoY Growth (New Series; base 2004- 05)

Economic Events and Data

Index Of Industrial Production (IIP)

RBI Policy – Status Quo; policy corridor narrowed

While RBI retained the policy rate (Repo rate) at 6.25% with a “neutral” stance, the main action was narrowing the policy corridor to +/- 25bp

from +/- 50 bps on the consideration that this would bring the overnight rates closer to policy rate. Recent surplus liquidity situation has

resulted in overnight rates being materially below the call rates. Liquidity is expected to be managed with a mix of various instruments such as

reverse repos, term repos, Open Market Operations (OMOs) and Cash Management Bills (CMBs). Policy action has been driven by

persistently higher core Consumer Price Index (CPI) with upside risks driven by El Nino, impact of 7th Pay commission, loan waivers and

commodity prices and gradual closing of output gap with economic growth.

IIP - India - IIP grew by 2.7% in January versus the previous reading of -0.4% reconfirming the transitory impact of demonetisation. This is

primarily lead by capital goods and consumer durables production. Capital goods saw a growth of 11.2% in January and consumer durables

also bounced back to a growth of 8.1% MoM.

Marginal increase in CPI inflation, demonetisation impact on veg prices continues

CPI - India

WPI – India

Trade deficit Narrows driven by exports

- CPI accelerated to 3.65% as compared to 3.2% seen in January. The increase is contributed by sugar and fruits. Vegetables

inflation seems to have bottomed. Commodity prices have also contributed to higher inflation. Core inflation is marginally lower to 4.75% as

compared to 4.9% in the previous months.

- WPI accelerated to 6.55% as compared to 5.2% in January. The pickup is broad based across all components. Food inflation

was led by fruits and vegetables indicating the prices have bottomed out at the wholesale levels. Core Inflation has moderated to 2.4%

compared to 2.7% in the previous month.

Trade deficit- India’s trade deficit narrowed to USD 8.9 bn as compared to USD 9.8 bn in the previous month. Exports grew at 17.5% YoY and

are currently at USD 24.5bn driven by high end engineering goods and gems and jewellery. Imports have also ticked higher especially oil

imports which are up 60% YoY at USD 7.68 bn. There has been higher external demand as compared to domestic demand with the deficit

narrowing further by USD 0.9bn.


02

Source: Bloomberg; Central Statistical Organization (CSO) India

Source: Bloomberg

0

2

4

6

8

10

Feb

-14

Apr-

14

Ju

n-1

4

Aug

-14

Oct-

14

De

c-1

4

Feb

-15

Apr-

15

Ju

n-1

5

Aug

-15

Oct-

15

De

c-1

5

Feb

-16

Apr-

16

Ju

n-1

6

Aug

-16

Oct-

16

De

c-1

6

Feb

-17

CPI Inflation (%)

Consumer Price Index (CPI)

Repo Rate

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

10.00%

Jul/07

Mar/

08

Nov/0

8

Jul/09

Mar/

10

Nov/1

0

Jul/11

Mar/

12

Nov/1

2

Jul/13

Mar/

14

Nov/1

4

Jul/15

Mar/

16

Repo Rate Movement

GDP – limited demonetisation impact

Markets in frenzy

India GDP: Q3 FY 17 GDP growth at 7% YoY displayed a muted impact of demonetisation. Agricultural growth accelerated sharply, public

expenditure was growth supportive. As expected Real Estate, Services and Financials were largely hit and recorded the lowest growth at

3.1% YoY.

As the informal economy play's a limited role in the formal economy, slowdown in the GDP can largely be delinked from the process of

demonetisation. This is in line with RBI's expectations, whereby they had revised their GDP forecasts lower and anticipated the process of

demonetisation to be transitory in nature.

Money market flush with liquidity

Liquidity remained positive through the month. Short term securities have seen issuances in the corporate bond space with the same being

absorbed in a non- disruptive manner.

MarketActivity

Markets witnessed two way sharp actions due to a short squeeze and reversal of the same. The month began with 10 year G - Secs at 6.85%

and closed the month at 6.60%. Yields are lower by 20bps to 30 bps across various G-Sec, SDLs, Uday and corporate bonds.

In the G-Sec segment, demand supply equation remains favourable with lesser than expected net market borrowing announced in the recent

budget. However with the supply tilted in the first half, we may see an opportunity spread widening and a term premium over overnight rate

may stabilise at 50-70 bps. On the corporate bond side, spreads have seen some widening at over 90 bps in March and with issuances largely

out of the way, we could see some compression here. Liquidity continues to remain well managed and we expect overnight rates to hover

between repo (6.25%) and reverse repo (6%).

Investors may be better off investing fixed income allocations in short and intermediate duration funds for liquidity and spread plays. Some

exposure to flexi duration funds, which may capitalise on yield compression opportunities can also be considered. We are positioning the

funds to benefit from these opportunities by having more exposure to corporate and spread assets up to 10 years maturity.

Going Forward

03


Source: Bloomberg, for all data except where mentioned otherwise

04


Consumer Discretionary

Consumer Staples

Energy

Financials

Healthcare

Industrials

Information Technology

Materials

Telecommunication

Utilities

Sectors HSBCEquityFund #

HSBC IndiaOpportunities

Fund #

HSBCMidcap

Equity Fund

Overweight Underweight Neutral

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

Review: HSBC Equity Fund

Positive ContributorsFinancials – being overweight & certain stock(s) selection helped performanceIndustrials, Consumer Discretionary, Energy & Information Technology – certain stock (s) selection helped performanceTelecommunication – being underweight helped performance

Negative ContributorsHealthcare - certain stock(s) selection hurt performanceConsumer Staples - being underweight hurt performance.

Review: HSBC India Opportunities Fund

Positive Contributors

Industrials – being overweight & certain stock (s) selection helped performance

Materials – certain stock(s) selection helped performance

Information Technology & Energy – being underweight & certain stock(s) selection helped performance

Telecommunication & Utilities – being underweight helped performance

Negative Contributors

Financials & Healthcare – certain stock(s) selection hurt performance.

Review: HSBC Midcap Equity Fund

Positive ContributorsMaterials - certain stock(s) selection helped performanceHealthcare & Energy – being underweight & certain stock(s) selection helped performanceTelecommunication – being underweight helped performance

Negative ContributorsFinancials & Industrials – certain stock(s) selection hurt performanceConsumer Discretionary & Consumer Staples – being underweight & certain stock(s) selection hurt performanceInformation Technology – being overweight & certain stock(s) selection hurt performanceUtilities – being underweight hurt performance.

Review: HSBC Dynamic Fund

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

Review: HSBC Monthly Income Plan

Our current exposure is 23.72% in HMIP. Currently it is more biased towards large caps than mid or small caps

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

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

05

FUND DETAILS

Weighted Average Monthly Total Expenses ratios(Annualized)

Portfolio Turnover

Regular 2.43%Direct Plan 1.71%Excludes service tax on Investment Management fees of 0.23%of Total NetAssets.

0.82

Asset Allocation

Auto 8.69%

AutoAncillaries 1.86%

Banks 32.25%

Cement 2.79%

Construction 1.50%

Construction Project 3.95%

Consumer Non Durables 6.55%

Finance 4.58%

Media & Entertainment 1.98%

Non - Ferrous Metals 3.67%

Pesticides 3.04%

Petroleum Products 7.14%

Pharmaceuticals 5.68%

Power 2.57%

Software 11.46%

Other Equity Investments 0.61%

Reverse Repos/CBLOs 1.46%

Net CurrentAssets 0.22%

Total NetAssets 100.00%

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

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

@ Effective from March 1, 2013 for prospective investments.

**Risk free rate: 7.37% (FIMMDA-NSE Mibor) as on March 31,2017)

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

FUND PORTFOLIO

Auto

Tata Motors 2,795.10 4.67%

Maruti Suzuki India 2,406.28 4.02%

Motherson Sumi Systems 1,115.70 1.86%

HDFC Bank 5,770.20 9.64%

IndusInd Bank 3,562.88 5.95%

Yes Bank 3,093.50 5.17%

ICICI Bank 2,768.50 4.62%

Kotak Mahindra Bank 2,354.94 3.93%

State Bank of India 1,760.40 2.94%

Dalmia Bharat 1,670.85 2.79%

J.Kumar Infraprojects 900.05 1.50%

Larsen & Toubro 2,362.35 3.95%

ITC 3,924.20 6.55%

HDFC 1,502.10 2.51%

LIC Housing Finance 1,236.90 2.07%

Sun TV Network 1,185.98 1.98%

Vedanta 2,199.60 3.67%

UPL 1,817.25 3.04%

Reliance Industries 3,302.25 5.52%

Indian Oil Corporation 967.63 1.62%

Aurobindo Pharma 1,519.20 2.54%

Sun Pharmaceuticals Industries 1,032.23 1.72%

Glenmark Pharmaceuticals 852.10 1.42%

Power Grid Corporation of India 789.20 1.32%

NTPC 747.00 1.25%

Infosys 3,322.31 5.55%

HCL Technologies 2,624.25 4.38%

Tech Mahindra 918.30 1.53%

Auto Ancillaries

Banks

Cement

Construction

Construction Project

Consumer Non Durables

Finance

Media & Entertainment

Non - Ferrous Metals

Pesticides

Petroleum Products

Pharmaceuticals

Power

Software

Other Equity Investments 367.99 0.61%

Cash Equivalents

Reverse Repos 873.25 1.46%

Net Current Assets 124.03 0.22%

Total Net Assets As on 31-Mar-2017 59,866.50 100.00%

IssuerMarket Value

( in Lacs)`

% to NetAssets

Dividend DeclarationRecord Date / periodof dividend declared

Dividend ( per unit)Non-Institutional

` Dividend ( per unit)Institutional

` NAV ( ) per unit(cum dividend)

`

HSBC Equity Fund - Dividend27-Jun-14 2.50000 2.50000 31.206510-Nov-15 3.70000 3.70000 29.4046

27-Jun-14 2.50000 2.50000 31.584510-Nov-15 3.70000 3.70000 30.0806

02-Nov-16 3.00000 3.00000 30.0022HSBC Equity Fund - Dividend - Direct Plan

02-Nov-16 3.00000 3.00000 31.0071

Date of Allotment

BenchmarkNAV (Growth)(as on 31.03.17)Monthly Average AUM(In Lakhs)Fund ManagerSIPMinimumApplication Amount

Exit Load

Standard DeviationBeta (Slope)Sharpe Ratio**

$

@

per unit

Statistical Ratios

10-Dec-02Nifty 50

176.9354

59,577.36

Neelotpal SahaiAvailable

10,000

1,000 p.m.(SIP)

Nil

4.73%

`

`

`

1.05760.1752

Investors understand that their principalwill be at Moderately High risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:

• To create wealth over longterm

• Investment in equity andequity related securities

HSBC Equity Fund (HEF)

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

HSBC India Opportunities Fund (HIOF)

06

FUND DETAILS


Portfolio Turnover

Regular 2.49%

Direct Plan 1.78%

Excludes service tax on Investment Management fees of 0.30%of Total NetAssets.

0.36

Asset Allocation

Auto 8.51%AutoAncillaries 3.01%Banks 24.84%Cement 3.79%Chemicals 1.67%Construction 2.59%Consumer Durables 1.52%Consumer Non Durables 4.63%Ferrous Metals 2.62%Finance 7.81%Industrial Products 3.44%Media & Entertainment 2.13%Non - Ferrous Metals 2.42%Oil 1.68%Pesticides 3.20%Petroleum Products 3.64%Pharmaceuticals 5.32%Software 8.35%Textile Products 3.41%Other Equity Investments 2.93%Reverse Repos/CBLOs 3.50%Net CurrentAssets -1.01%Total NetAssets 100.00%

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


(absolute)

**Risk free rate: 7.37% (FIMMDA-NSE Mibor) as on

@Effective from March 1, 2013 for prospective investments.

March 31,2017)


FUND PORTFOLIO

Auto

Tata Motors 2,329.25 5.13%

Eicher Motors 1,535.25 3.38%

Balkrishna Industries 693.08 1.53%

Exide Industries 673.05 1.48%

HDFC Bank 4,327.65 9.53%

ICICI Bank 2,491.65 5.49%

Yes Bank 2,320.13 5.11%


JK Cement 934.95 2.06%

Dalmia Bharat 786.28 1.73%

Vinati Organics 758.00 1.67%

Ahluwalia Contracts (India) 627.50 1.38%

Somany Ceramics 550.56 1.21%

Blue Star 692.40 1.52%

ITC 2,102.25 4.63%

Srikalahasthi Pipes 702.00 1.55%

Jindal Steel & Power 484.00 1.07%

Bajaj Finance 1,756.65 3.87%

Manappuram Finance 981.50 2.16%

Bharat Financial Inclusion 808.40 1.78%

Supreme Industries 1,092.65 2.41%

Astral Poly Technik 465.50 1.03%

Dish TV India 967.50 2.13%

Vedanta 1,099.80 2.42%

Cairn India 764.63 1.68%

UPL 1,453.80 3.20%

Reliance Industries 1,651.13 3.64%


Glenmark Pharmaceuticals 1,065.13 2.35%

Infosys 2,044.50 4.50%

HCL Technologies 1,749.50 3.85%

Welspun India 1,053.00 2.32%

Arvind 493.69 1.09%

Auto Ancillaries

Banks

Cement

Chemicals

Construction

Consumer Durables


Ferrous Metals

Finance

Industrial Products



Oil

Pesticides

Petroleum Products

Pharmaceuticals

Software

Textile Products

Other Equity Investments 1,329.73 2.93%

Cash Equivalents

Reverse Repos 1,591.39 3.50%

Net Current Assets -450.81 -1.01%


IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC India Opportunities Fund - Dividend

HSBC India Opportunities Fund - Dividend Direct Plan

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

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

24-Mar-17 1.50000 1.50000 25.8408

24-Mar-17 1.50000 1.50000 28.1677

An Open Ended Flexi-Cap Equity Scheme

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

Date of Allotment

Benchmark

NAV (Growth)(as on )

Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

$

@

per unit

Monthly Average AUM(In Lakhs)

31.03.17

Statistical Ratios

24-Feb-04

S&P BSE 200

77.2302

44,550.38

Neelotpal Sahai

Available

10,000

1,000 p.m.(SIP)

Nil

5.18%

1.1372

0.2361

`

`

`


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities acrossmarket capitalisations

HSBC India Opportunities Fund (HIOF)


HSBC Midcap Equity Fund (HMEF)

This product is suitable for investors who are seeking*:

�

�

�

Overnight liquidity over short term

Investment in Money Market Instruments

Low riskLOW RISK

(BLUE)

Note: Risk is represented as -

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

07

FUND DETAILS


Portfolio Turnover

Regular 2.55%

Direct Plan 1.80%


0.30

Asset Allocation


(absolute)

**Risk free rate: 7.37% (FIMMDA-NSE Mibor) as on)


March 31,2017


FUND PORTFOLIO

Auto

VST Tillers Tractors 1,501.87 3.49%

Apollo Tyres 709.58 1.65%

Federal Bank 457.25 1.06%

Deccan Cements 1,593.05 3.71%

Vinati Organics 2,093.39 4.87%

Navin Fluorine International 965.96 2.25%

Balaji Amines 912.07 2.12%


IRB Infrastructure Developers 851.04 1.98%

Power Mech Projects 1,015.08 2.36%

CCl Products (India) 2,253.30 5.24%

Kaveri Seed Company 1,082.91 2.52%

Srikalahasthi Pipes 1,144.35 2.66%

Manappuram Finance 2,366.40 5.51%

Motilal Oswal Financial Services 2,275.41 5.29%

Indiabulls Housing Finance 1,940.62 4.51%

Muthoot Finance 1,520.07 3.54%

Bharat Financial Inclusion 1,261.10 2.93%

Cholamandalam Investment & Fin Corporation 1,021.79 2.38%

Sanghvi Movers 1,335.64 3.11%

Inox Wind 705.66 1.64%

Finolex Industries 1,197.16 2.79%

Ramkrishna Forgings 938.63 2.18%

Jagran Prakashan 1,627.45 3.79%

Hindustan Media Ventures 753.38 1.75%

Gujarat Mineral Development Corporation 764.97 1.78%

UPL 1,170.31 2.72%

PI Industries 651.87 1.52%

Hindustan Petroleum Corporation 972.45 2.26%

GOCL Corporation 671.74 1.56%


Wockhardt 683.29 1.59%

Kalpataru Power Transmission 602.91 1.40%

Sonata Software 1,022.28 2.38%

Sarla Performance Fibers 859.53 2.00%

Auto Ancillaries

Banks

Cement

Chemicals

Construction



Ferrous Metals

Finance

Industrial Capital Goods

Industrial Products


Minerals/Mining

Pesticides

Petroleum Products

Pharmaceuticals

Power

Software

Textiles - Synthetic

Other Equity Investments 1,136.06 2.63%

Cash Equivalents




IssuerMarket Value

( in Lacs)`

% to NetAssets





`

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

02-Nov-16 1.75 1.75 25.3345

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

An Open Ended Diversified Equity Scheme

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

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.03.17

Statistical Ratios

19-May-05

S&P BSE Midcap

49.3277

40,875.51

Dhiraj Sachdev

Available

10,000

1,000 p.m.(SIP)

Nil

6.27%

1.2165

0.3216

`

`

`


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

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

term• Invests in predominantly mid

cap equity and equity relatedsecurities

HSBC Midcap Equity Fund (HMEF)


Auto 3.49%


Banks 1.06%

Cement 3.71%

Chemicals 9.24%

Construction 4.08%



Ferrous Metals 2.66%

Finance 24.16%

Industrial Capital Goods 4.75%

Industrial Products 4.97%


Minerals/Mining 1.78%

Pesticides 4.24%



Power 1.40%

Software 2.38%

Textiles - Synthetic 2.00%



Net CurrentAssets -0.29%


HSBC Infrastructure Equity Fund (HIEF)


�

�

�



Low riskLOW RISK

(BLUE)



08

FUND DETAILS

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta

Sharpe Ratio**

$

@

per unit


(Slope)

31.03.17

Statistical Ratios

23-Feb-06

S&P BSE IndiaInfrastructure Index

20.6858

12,306.88

Dhiraj Sachdev

Available

10,000

1,000 p.m.(SIP)

Nil

6.92%

1.3074

0.2602

`

`

`


Portfolio Turnover

Regular 2.64%

Direct Plan 1.94%


0.22

Asset Allocation

Banks 2.74%

Cement 6.96%

Construction 13.48%


Ferrous Metals 4.94%

Finance 6.85%

Gas 3.31%





Power 16.00%

Transportation 9.77%







(absolute)



March 31,2017


FUND PORTFOLIO

Banks

Karnataka Bank 348.23 2.74%

Deccan Cements 883.44 6.96%



KNR Constructions 384.23 3.03%

NBCC India 352.19 2.78%

Power Mech Projects 160.28 1.26%

Larsen & Toubro 157.49 1.24%

Jindal Saw 462.87 3.65%

Srikalahasthi Pipes 163.80 1.29%

Rural Electrification Corporation 868.80 6.85%

Gujarat State Petronet 419.90 3.31%

Sanghvi Movers 547.61 4.32%

Inox Wind 247.15 1.95%

KEI Industries 489.65 3.86%

FAG Bearings India 337.52 2.66%

Gujarat Mineral Development Corporation 734.85 5.79%

Hindustan Petroleum Corporation 770.08 6.07%


Adani Transmission 673.58 5.31%


Reliance Infrastructure 361.09 2.85%

PTC India 299.71 2.36%

Rattanindia Power 152.44 1.20%

Adani Ports & Special Economic Zone 767.50 6.05%

Gateway Distriparks 307.77 2.43%

Gujarat Pipavav Port 164.10 1.29%

Cement

Construction


Ferrous Metals

Finance

Gas


Industrial Products

Minerals/Mining

Petroleum Products

Power

Transportation


Cash Equivalents




IssuerMarket Value

( in Lacs)`

% to NetAssets





`

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

An Open Ended Equity Scheme

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

Investors understand that their principalwill be at High risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



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

HSBC Infrastructure Equity Fund (HIEF)


HSBC Tax Saver Equity Fund (HTSF)

09

FUND DETAILS

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.03.17

Statistical Ratios

05-Jan-07

S&P BSE 200

33.1854

18,140.71

Aditya Khemani

Available

500

(Lumpsum & SIP)

Nil

4.98%

1.0716

0.2581

`

`


Portfolio Turnover

Regular 2.59%

Direct Plan 1.88%


0.63

Asset Allocation

Auto 3.98%


Banks 26.61%

Cement 7.47%

Construction 6.20%

Consumer Durables 4.08%


Finance 4.85%





Software 5.85%

Textile Products 3.69%

Textiles - Cotton 2.19%







(absolute)



March 31,2017


FUND PORTFOLIO

Auto

Auto Ancillaries

Banks

Cement

Construction

Consumer Durables


Finance

Industrial Products


Petroleum Products

Pharmaceuticals

Software

Textile Products

Textiles - Cotton

Transportation


Cash Equivalents




Maruti Suzuki India 723.87 3.98%

MRF 396.20 2.18%

Amara Raja Batteries 391.62 2.15%

Exide Industries 327.55 1.80%

HDFC Bank 1,503.14 8.26%

ICICI Bank 1,211.22 6.66%


Federal Bank 445.47 2.45%

Jammu & Kashmir Bank 296.25 1.63%

Axis Bank 287.12 1.58%

NCL Industries 623.26 3.43%

The Ramco Cements 391.33 2.15%

OCL India 343.73 1.89%

Somany Ceramics 530.72 2.92%



Blue Star 394.67 2.17%

Crompton Greaves Consumer Electrical 347.12 1.91%

Glaxosmithkline Consumer Healthcare 422.80 2.32%

United Spirits 413.19 2.27%

Heritage Foods 391.32 2.15%

ITC 378.12 2.08%

HDFC 521.23 2.86%

LIC Housing Finance 361.35 1.99%

Nilkamal 409.90 2.25%

Huhtamaki PPL 275.08 1.51%

Sun TV Network 411.14 2.26%

Reliance Industries 376.46 2.07%

Castrol (India) 281.06 1.54%

Torrent Pharmaceuticals 558.94 3.07%

Aurobindo Pharma 310.59 1.71%

Sun Pharmaceutical Industries 238.79 1.31%

Infosys 703.31 3.86%

Oracle Financial Services Software 362.50 1.99%

Indian Terrain Fashions 387.31 2.13%

Welspun India 284.63 1.56%

Indo Count Industries 398.85 2.19%


IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Tax Saver Equity Fund Dividend

HSBC Tax Saver Equity Fund Dividend Direct

17-Mar-15 2.50000 2.50000 23.902923-Mar-16 1.50000 1.50000 19.4675

24-Mar-17 1.50000 1.50000 23.9550

24-Mar-17 1.50000 1.50000 23.1073

17-Mar-15 2.50000 2.50000 24.325623-Mar-16 1.50000 1.50000 19.9950

An Open Ended Equity Linked Savings Scheme (ELSS)

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


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


term• Invests in equity and equity

related securities with nomarket capitilastion bias

HSBC Tax Saver Equity Fund (HTSF)


HSBC Dynamic Fund (HDF)

10

FUND DETAILS

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.03.17

Statistical Ratios

24-Sep-07

S&P BSE 200

15.5762

4,585.76

Neelotpal Sahai

(for Equity portion)

Sanjay Shah

(for Fixed Income portion)

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

3.65%

0.8184

0.1415


Portfolio Turnover

Regular 2.68%

Direct Plan 1.98%Excludes service tax on Investment Management fees of 0.24%of Total NetAssets.

0.66

Asset Allocation

Auto 9.24%

Banks 21.74%



Finance 4.87%

Gas 1.63%




Power 4.82%

Software 10.42%





(absolute)



March 31,2017

FUND PORTFOLIO

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Scheme

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

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

Auto

Banks



Finance

Gas


Petroleum Products

Pharmaceuticals

Power

Software

Cash Equivalents





Tata Motors 186.34 4.03%

HDFC Bank 432.77 9.36%

Yes Bank 232.01 5.02%

Kotak Mahindra Bank 174.44 3.77%

ICICI Bank 166.11 3.59%


ITC 252.27 5.46%

Asian Paints 161.03 3.48%

Hindustan Unilever 68.38 1.48%

HDFC 225.32 4.87%

Gail (India) 75.39 1.63%

Vedanta 164.97 3.57%



Aurobindo Pharma 135.04 2.92%

NTPC 124.50 2.69%


Infosys 204.45 4.42%

Tata Consultancy Services 145.91 3.16%

HCL Technologies 131.21 2.84%


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



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

HSBC Dynamic Fund (HDF)


HSBC Dividend Yield Equity Fund (HDYEF)


�

�

�



Low riskLOW RISK

(BLUE)



11

FUND DETAILS

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.03.17

Statistical Ratios

21-Mar-07

S&P BSE 200

19.3940

4,174.78

Gautam Bhupal &

Amaresh Mishra

Available

10,000

1,000 p.m.(SIP)

Nil

4.24%

0.9382

0.2154

`

`

`


Portfolio Turnover

Regular 2.35%


0.12

Asset Allocation

Auto 8.08%


Banks 18.63%

Cement 2.10%

Chemicals 2.11%



Finance 11.25%




Oil 3.04%



Power 3.71%

Software 13.40%

Textile Products 1.55%






(absolute)



March 31,2017

FUND PORTFOLIO

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Equity Scheme

Investment Objective: The Scheme aims to generate dividend yield and capital appreciation by primarily investing into

equities and equity related securities of domestic Indian companies.

Auto

Auto Ancillaries

Banks

Cement

Chemicals



Finance


Minerals/Mining


Oil

Petroleum Products

Pharmaceuticals

Power

Software

Textile Products

Transportation

Cash Equivalents



Total Net Assets as on 31-Mar-2017 4,249.15 100.00%


Hero Motocorp 162.71 3.83%

MRF 187.74 4.42%

ICICI Bank 350.49 8.25%

HDFC Bank 201.96 4.75%

Karur Vysya Bank 185.39 4.36%

Jammu & Kashmir Bank 54.11 1.27%

Deccan Cements 89.09 2.10%

Tata Chemicals 89.81 2.11%


ITC 324.22 7.63%

Hindustan Unilever 93.03 2.19%

HDFC 165.23 3.89%

Indiabulls Housing Finance 159.64 3.76%

Manappuram Finance 153.11 3.60%

V-Guard Industries 159.03 3.74%

Coal India 73.16 1.72%

Hindustan Zinc 138.91 3.27%

Oil & Natural Gas Corporation 129.04 3.04%

Bharat Petroleum Corporation 181.96 4.28%


Lupin 78.42 1.85%

Sun Pharmaceutical Industries 61.93 1.46%

NTPC 157.70 3.71%

Infosys 280.20 6.59%

HCL Technologies 155.71 3.66%

Tata Consultancy Services 133.75 3.15%

Welspun India 65.81 1.55%



Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


term• Invests in equity and equity

r e l a t e d s e c u r i t i e s o fcompanies facing "out-of-ordinary" conditions

HSBC Dividend Yield Equity Fund (HDYEF)


HSBC Emerging Markets Fund (HEMF)


�

�

�



Low riskLOW RISK

(BLUE)



12

FUND DETAILS


Regular 1.93%

Direct Plan 1.23%

(inclusive of underlying scheme's expenses)Excludes service tax on Investment Management fees of 0.05%of Total NetAssets.

Asset Allocation

Overseas Mutual Fund 96.55%





(absolute)



March 31,2017


FUND PORTFOLIO

Overseas Mutual Fund

Cash Equivalents



Total Net Assets Ason 31-Mar-2017 928.37 100.00%

HSBC GIF Glob Emerg Mkts Eq S1 Dis 896.36 96.55%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Scheme

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

Date of Allotment

Benchmark

NAV (Growth)(as on 31 )

Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

.03.17

Statistical Ratios

17-Mar-08

MSCI EmergingMarkets Index

11.9610

936.78

Ranjithgopal K A(Dedicated fund

manager foroverseas

investments)

Available

10,000

1,000 p.m.(SIP)

Nil

4.22%

1.1890

0.0790

`

`

` Dividend DeclarationRecord Date / periodof dividend declared




`

HSBC - Emerging Market Fund - Dividend

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

27-Jun-14 0.50000 0.50000 11.6656


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Investment in equity andequity related securities ofEmerging economies

HSBC Emerging Markets Fund (HEMF)


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


�

�

�



Low riskLOW RISK

(BLUE)



13

FUND DETAILS


Regular 2.28%

Direct Plan 1.58%

(inclusive of underlying scheme's expenses)


Asset Allocation






FUND PORTFOLIO


HSBC GIF Asia Pacific Ex Japan EQ HD-S9D 958.72 97.97%

Cash Equivalents



Total Net Assets As on 31-Mar-2017 978.63 100.00%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Fund of Funds Scheme

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

Date of AllotmentBenchmark


Fund Manager

SIPMinimumApplication Amount

Exit Load

per unit


@

31.03.17

24-Feb-14MSCI AC Asia Pacific

ex Japan

Ranjithgopal K A (foroverseas investments),

Sanjay Shah (forinvestments in Indian

Market)

Available

10,000

1,000 p.m.(SIP)

Nil

996.73

`

`

`11.6452


RiskometerRiskometer

Mod

erately

Mod

erately ModerateModerate

Low

Low

Hig

hH

igh

Low

Low

HighHigh

LOWLOW HIGHHIGH

Moderately

Moderately



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

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


HSBC Brazil Fund (HBF)


�

�

�



Low riskLOW RISK

(BLUE)



14

FUND DETAILS


Regular 2.69%

Direct Plan 1.99%


Asset Allocation






(absolute)



March 31,2017

FUND PORTFOLIO


HSBC GIF Brazil Equity S3D 2,864.69 98.21%

Cash Equivalents




IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open-Ended Fund of Funds Scheme

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

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

Beta (Slope)

Sharpe Ratio**

per unit


@

31.03.17

Statistical Ratios

06-May-11

MSCI Brazil 10/40 Index

7.0201

3,035.73

Ranjithgopal K A(Dedicated fund

manager for overseasinvestments)

Available

10,000

1,000 p.m.(SIP)

Nil

10.69%

0.9360

-0.0040

`

`

`


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



• Invests in equity and equityrelated securities throughfeeder route in Brazilianmarkets

HSBC Brazil Fund (HBF)


HSBC Managed Solutions India - Growth (HMSG)


�

�

�



Low riskLOW RISK

(BLUE)



15

FUND DETAILS


Regular 2.25%

Direct Plan 1.98%

(inclusive of underlying scheme's expenses)

Excludes service tax on Investment Management fees of 0.00%of Total Net Assets and of 0.24% on the underlying scheme's inwhich the fund of fund invests.

Asset Allocation

Mutual Fund 98.95%





FUND PORTFOLIO

Mutual Fund

HSBC Equity Fund - Growth Direct 8,346.11 59.24%

HSBC Midcap Equity Fund - Growth Direct 2,841.07 20.16%

HSBC Income Fund Short Term - Growth Direct 1,372.06 9.74%

HSBC Income Fund Inv Plan Growth Direct 781.30 5.55%

HSBC Flexi Debt Fund Growth Direct 599.75 4.26%

Cash Equivalents




IssuerMarket Value

( in Lacs)`

% to NetAssets


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

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit

Monthly Average AUM

(In Lakhs)

@

31.03.17

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

and 20% of CRISILBond Index

15.6675

13,755.31

Ranjithgopal K A (DedicatedFund Manager for investments

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

Equity Portion)Sanjay Shah (For managing

investments in Indian Market –Fixed Income Portion)

Available

5,000

1,000 p.m.(SIP)

Nil

Composite

`

`

`


Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• To create wealth over long term

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

HSBC Managed Solutions India - Growth


HSBC Managed Solutions India - Moderate (HMSM)


�

�

�



Low riskLOW RISK

(BLUE)



16

FUND DETAILS


Regular 2.14%

Direct Plan 1.89%

(inclusive of underlying scheme's expenses)Excludes service tax on Investment Management fees of 0.00%of Total Net Assets and of 0.21% on the underlying scheme's inwhich the fund of fund invests.

Asset Allocation

Mutual Fund 98.47%





FUND PORTFOLIO

Mutual Fund



HSBC Midcap Equity Fund - Growth Direct 3,541.15 16.43%

HSBC Flexi Debt Fund Growth Direct 2,597.36 12.05%

HSBC Income Fund Inv Plan Growth Direct 1,055.01 4.89%

Cash Equivalents




IssuerMarket Value

( in Lacs)`

% to NetAssets


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

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit

Monthly Average AUM

(In Lakhs)

@

31.03.17

30-Apr-14

CRISIL Balanced FundAggressive

15.0289

21,086.91


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

Equity Portion)

Sanjay Shah (For managinginvestments in Indian Market –

Fixed Income Portion)

Available

5,000

1,000 p.m.(SIP)

Nil

Index

`

`

`


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• To create wealth and provideincome over the long term

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

HSBC Managed Solutions India - Moderate


HSBC Managed Solutions India - Conservative (HMSC)


�

�

�



Low riskLOW RISK

(BLUE)



17

FUND DETAILS


Regular 1.69%

Direct Plan 1.44%

(inclusive of underlying scheme's expenses)Excludes service tax on Investment Management fees of 0.04%of Total Net Assets and of 0.10% on the underlying scheme's inwhich the fund of fund invests.

Asset Allocation

Mutual Fund 98.64%





FUND PORTFOLIO

Mutual Fund


HSBC Flexi Debt Fund Growth Direct 8,877.09 25.78%

L&T Triple Ace Bond Fund Direct Growth 5,183.33 15.05%


HSBC Income Fund Inv Plan Growth Direct 1,110.34 3.22%

Cash Equivalents




IssuerMarket Value

( in Lacs)`

% to NetAssets


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

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

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

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit


@

.03.17

30-Apr-14

Composite Index constitutingof 90% into CRISIL Composite

Bond Index and 10% of S&PBSE 200 Index

13.2827


in foreign securities)(For managing

investments in Indian Market –Equity Portion)

Sanjay Shah (For managinginvestments in Indian Market –

Fixed Income Portion)

Available

5,000

1,000 p.m.(SIP)

Nil

`

34,034.74

Gautam Bhupal

`

`

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

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

Investors understand that their principalwill be at Moderate risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

HSBC Managed Solutions India - Conservative


HSBC Global Consumer Opportunities Fund -(HGCOF)

Benefiting from China’sGrowing Consumption Power

18

FUND DETAILS


Regular 2.34%

Direct Plan 1.64%


Asset Allocation






FUND PORTFOLIO


Cash Equivalents



Total Net Assets As on 31-Mar-2017 520.07 100.00%

HSBC GIF-CHINA CONSUMER OPP S5 CAP 510.82 98.22%

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open-Ended Fund of Funds Scheme

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

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

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

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

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit


@

31.03.17

23-Feb-15

MSCI AC World Index

10.2734

549.67

Ranjithgopal K A (DedicatedFund Manager) & Sanjay Shah

(for investments in IndianMarket)

Available

,000

1,000 p.m.(SIP)

Nil

`

`

`

5


Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

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

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

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


19

HSBC Equity Fund


HSBC Midcap Equity Fund

HSBC Infrastructure Equity Fund

HSBC Tax Saver Equity Fund

HSBC Dividend Yield Equity Fund

HSBC Dynamic Fund

HSBC Emerging Markets Fund

HSBC Brazil Fund

HSBC Asia Pacific (Ex Japan) Dividend Yield Fund

HSBC Managed Solutions

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

Neelotpal Sahai (from 27 May 2013)

Neelotpal Sahai (from 27 May 2013)

Dhiraj Sachdev (from 01 December 2009)

Dhiraj Sachdev (from 01 December 2009)

Aditya Khemani (from 24 February 2009)

Gautam Bhupal and Amaresh Mishra (from 02 July 2012)(from 21 Oct 2015)

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

Ranjithgopal K A (from 27 February 2017)


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


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

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

Gautam Bhupal(from 21 Oct 2015)


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


Name of Scheme Fund Manager

Fund Manager’s Experience

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

Experience:

Over 20 years experience in Equity Research and Fund Management.

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

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

HDFC Bank LtdSenior Manager Equities from November 1999 to September 2003

DSQ Software LtdBusiness Analyst from June 1999 to November 1999

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

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

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Gautam Bhupal

Vice President & Fund Manager Equities

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

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

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

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

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

Experience:

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



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�

�



Low riskLOW RISK

(BLUE)



20

Neelotpal Sahai

Senior Vice President & Fund Manager - Equities

B.Tech, PGDM (IIM Kolkata)

Over 24 years of experience in Research and Fund Management.

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

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

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

Infosys LtdSenior Project Manager from June 1999 to March 2005

Vickers Ballas Securities LtdAnalyst from September 1998 to June 1999

SBC WarburgAnalyst from May 1997 to May 1998

UTI Securities LtdEquity Analyst from June 1995 to May 1997

Experience:

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�

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Aditya Khemani

Vice President & Fund Manager - Equities

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

Over 11 years experience in research.

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

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

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

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

Experience:

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Amaresh Mishra

Vice President & Assistant Fund Manager

Post Graduate Diploma in Business Manager Management

Bachelor of Engineering (Chemical)

Over 11 years of experience in Equities & Sales

HSBC Asset Management (India) Private LtdVice President & Assistant Fund Manager, from April 2012 to present,Associate Vice President, Investment Management from April 2008 to March 2012,Associate Vice President, Equities from October 2007 to March 2008;Associate Vice President, Sales and Distribution from March 2005 to September 2007

Centre for Science and EnvironmentTrainee Researcher from July 2001 to July 2002

Experience:

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Ranjithgopal K A

Vice President - Equities from March 2016 onwards

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

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

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

Vice President - Equities

PGDBM, BA - Economics

Over 10 years of experience in Equity Research & Sales

HSBC Asset Management (India) Private Ltd

Experience:

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

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

HSBC Equity Fund Date of Inception : 10 Dec 02

Scheme Name & Benchmarks 1 Year 3 Years 5 Years SinceInception

HSBC Equity Fund - Growth

(Scheme Benchmark)

(Standard Benchmark)

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

10,000, if invested in , would have become


`

`

`

Nifty 50

S&P BSE 200

Nifty 50

S&P BSE 200

25.25% 14.58% 13.04% 22.23%

18.55% 11.01% 11.60% 16.24%

22.47% 14.17% 13.08% 17.75%

12,525 15,043 18,453 177,911

11,855 13,680 17,313 86,601

12,247 14,882 18,487 104,155

` ` ` `

` ` ` `

` ` ` `


HSBC Dynamic Fund

Date of Inception : 24 Feb 04

Date of Inception : 24 Sep 07

Scheme Name & Benchmarks


SinceInception

SinceInception

HSBC India Opportunities Fund - Growth

S&P BSE 200 (Scheme Benchmark)


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

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


Nifty 50

Nifty 50

`

`

`

HSBC Dynamic Fund - Growth



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



Nifty 50

Nifty 50

`

`

`

26.51% 19.99% 17.56% 16.88%

22.47% 14.17% 13.08% 13.79%

18.55% 11.01% 11.60% 13.13%

12,651 17,276 22,452 77,263

12,247 14,882 18,487 54,407

11,855 13,680 17,313 50,385

` ` ` `

` ` ` `

` ` ` `

16.78% 11.75% 10.14% 4.76%

22.47% 14.17% 13.08% 7.13%

18.55% 11.01% 11.60% 6.73%

11,678 13,954 16,209 15,578

12,247 14,882 18,487 19,280

11,855 13,680 17,313 18,603

` ` ` `

` ` ` `

` ` ` `

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

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



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


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

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


Returns are of growth option. The returns for the respective periods are provided as on 31 Mar 2017. Returns above 1 year are CompoundedAnnualized. Standard benchmarkis 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. Thereturns 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 shallhave 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

1 Year 3 Years 5 Years


HSBC Brazil Fund Date of Inception : 06 May 11

Scheme Name & Benchmarks SinceInception

HSBC Brazil Fund - Growth

MSCI Brazil 10/40 Index (Scheme Benchmark)


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

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


Nifty 50

Nifty 50

`

`

`

33.46% -6.69% -6.70% -5.81%

37.56 -5.73% -9.31% -9.57%

18.55 11.01% 11.60% 8.88%

13,346 8,124 7,072 7,019

13,756 8,379 6,136 5,519

11,855 13,680 17,313 16,529

%

%

` ` ` `

` ` ` `

` ` ` `

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

Returns are of growth option. The returns for the respective periods are provided as on 31 Mar 2017. Returns above 1 year are CompoundedAnnualized. Standard benchmarkis 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. Thereturns 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 plansshall 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.

`


22


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

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

HSBC Emerging Markets Fund Date of Inception : 17 Mar 08


HSBC Emerging Markets Fund - Growth

MSCI Emerging Market Index (Scheme Benchmark)


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

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


Nifty 50

Nifty 50

`

`

`

16.28% 3.28% 3.72% 2.00%

12.42% 3.09% 2.62% 1.83%

18.55% 11.01% 11.60% 8.19%

11,628 11,018 12,002 11,962

11,242 10,957 11,381 11,785

11,855 13,680 17,313 20,376

` ` ` `

` ` ` `

` ` ` `



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


HSBC Asia Pacific (Ex Japan) DividendYield Fund


Scheme Name & Benchmarks 1 Year 3 Years SinceInception

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

MSCI AC Asia Pacific ex Japan (Scheme Benchmark)


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

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


Nifty 50

Nifty 50

`

`

`

17.47% 5.82% 5.04%

14.92% 0.65% 1.46%

18.55% 11.01% 13.56%

11,747 11,850 11,647

11,492 10,196 10,459

11,855 13,680 14,835

` ` `

` ` `

` ` `


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

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


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

The said Fund has been in existence for more than 1 year but less than 5 years

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


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

SinceInception

SinceInception

SinceInception

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

MSCI AC World Index (Scheme Benchmark)

Nifty 50 (Standard Benchmark)

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

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

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

`

`

`

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

8.46% 1.29%

12.71% 1.88%

18.55% 2.25%

10,846 10,274

11,271 10,400

11,855 10,479

` `

` `

` `

HSBC Infrastructure Equity Fund Date of Inception : 23 Feb 06

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

SinceInception

SinceInception

SinceInception

HSBC Infrastructure Equity Fund - Growth

S&P BSE India Infrastructure (Scheme Benchmark)


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

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


$

`

`

`


32.76% 13.86%

40.59% 8.31%

18.55% 8.21%

13,276 14,472

14,059 12,552

11,855 12,519

` `

` `

` `

* On account of change in the index composition of the benchmark of HMEF (S&P BSE Midcap), vide BSE Notification dtd 10 April, 2015, the returns for this benchmark aredifferent when compared to the historically published returns. Further, as the index data for S&P BSE Midcap is available only from Sept 16, 2005, the 'Since inception' returns forboth this index and the scheme have been calculated from this date onwards.


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

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

HSBC Midcap Equity Fund* Date of Inception : 19 May 05


HSBC Midcap Equity Fund - Growth

S&P BSE Midcap (Scheme Benchmark)


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

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


Nifty 50

Nifty 50

`

`

`

35.35% 30.08% 21.82% 11.40%

32.75% 25.76% 17.29% 10.81%

18.55% 11.01% 11.60% 11.72%

13,535 22,011 26,823 34,805

13,275 19,890 22,193 32,711

11,855 13,680 17,313 35,953

` ` ` `

` ` ` `

` ` ` `


23

Returns are of growth option. The returns for the respective periods are provided as on 31 Mar 2017. Returns above 1 year are Compounded Annualized. Standard benchmark isprescribed 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 returnsprovided 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 adifferent expense structure. The performance details provided herein are of other than Direct plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

`


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

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


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

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

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



Please Note :$The benchmark was changed to S&P BSE India Infrastructure Index w.e.f. 11th November, 2016 as a more suitable benchmark was identified which better matched theportfolio strategy. There has been no change to investment management of the scheme. Kindly note that index value for S&P BSE Infrastructure Index is available from 28May 2014, hence the Since Inception returns of the said Scheme and the Benchmark are calculated from 28-May-2014.

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

Scheme Name & Benchmarks 1 Year SinceInception

HSBC Managed Solutions - Growth - Growth

Customised Benchmark Index Fund (Scheme Benchmark)*

(Standard Benchmark)Nifty 50

Crisil 10 Year Gilt Index (Standard Benchmark)

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

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


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

`

`

`

`

24.68% 16.62%

20.20% 13.84%

18.55% 11.38%

11.87% 11.55%

12,468 15,674

12,020 14,126

11,855 13,704

11,187 13,765

` `

` `

` `

` `


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


24


`

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


HSBC Tax Saver Equity Fund - Growth



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



Nifty 50

Nifty 50

`

`

`

30.64% 19.76% 18.91% 12.43%

22.47% 14.17% 13.08% 8.92%

18.55% 11.01% 11.60% 8.49%

13,064 17,177 23,773 33,196

12,247 14,882 18,487 24,003

11,855 13,680 17,313 23,035

` ` ` `

` ` ` `

` ` ` `

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



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


The said Fund is managed by Amaresh Mishra Effective (02 July 2012)

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

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


Fund Managed by Amaresh Mishra (Total Scheme Managed 1)

Funds Managed by Gautam Bhupal (Total Schemes Managed 4)

HSBC Dividend Yield Equity Fund Date of Inception : 21 Mar 07


HSBC Dividend Yield Equity Fund - Growth



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



Nifty 50

Nifty 50

`

`

`

25.93% 15.53% 13.80% 6.82%

22.47% 14.17% 13.08% 9.96%

18.55% 11.01% 11.60% 9.28%

12,593 15,422 19,088 19,398

12,247 14,882 18,487 25,938

11,855 13,680 17,313 24,375

` ` ` `

` ` ` `

` ` ` `



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

(For overseas investment)

(Total Schemes Managed 4)Funds Managed by (Total Schemes Managed 10)Funds Managed by Ranjithgopal K A (Total Schemes Managed 7)


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


25


`


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


HSBC Managed Solutions - Moderate - Growth

CRISIL Balanced Fund – Aggressive Index (Scheme Benchmark)



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

10,000,if investedinCRISILBalancedFund–AggressiveIndex,wouldhavebecome



`

`

`

`

21.52% 14.97%

16.10% 11.59%

18.55% 11.38%

11.87% 11.55%

12,152 15,035

11,610 13,778

11,855 13,704

11,187 13,765

` `

` `

` `

` `








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


HSBC Managed Solutions - Conservative - Growth




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




`

`

`

`

10.40% 10.21%

12.23% 11.55%

18.55% 11.38%

11.87% 11.55%

11,040 13,286

11,223 12,464

11,855 13,704

11,187 13,765

` `

` `

` `

` `









26

HSBC Equity Fund


HSBC Dynamic Fund

Date of Inception : 10 Dec 02


Date of Inception : 24 Sep 07




1Year

1Year

1Year

3Years

3Years

3Years

5Years

5Years

5Years

SinceInception

SinceInception

SinceInception

Total amount invested ( )

Market Value as on March 31, 2017 ( )

Scheme Returns (%)

Scheme Benchmark ( )

Scheme Benchmark Returns (%)

Standard Benchmark ( )

Standard Benchmark Returns (%)

`

`

`

`

-

-

-

-

Nifty 50

Nifty 50

S&P BSE 200

S&P BSE 200


Scheme Returns (%)





`

`

`

`

Market Value as on , 2017 ( )

S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

March 31


Scheme Returns (%)





`

`

`

`


S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

March 31

120000 360000 600000 1720000

134805 432945 853324 5604662

23.77 12.37 14.07 15.14

131278 408408 793799 4540801

17.97 8.38 11.15 12.57

133278 424157 840280 4868894

21.24 10.96 13.45 13.43

120000 360000 600000 1580000

134893 446507 958728 4447809

23.91 14.51 18.83 14.62

133278 424157 840280 3650291

21.24 10.96 13.45 11.94

131278 408408 793799 3466275

17.97 8.38 11.15 11.23

120000 360000 600000 1150000

130057 414316 788000 1727160

15.98 9.35 10.85 8.25

133278 424157 840280 1989810

21.24 10.96 13.45 11.05

131278 408408 793799 1872843

17.97 8.38 11.15 9.86

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

The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments givenan initial and final value and a series of cash inflows and outflows with correct allowance for the time impact of the transactions. Data as on March 31, 2016.

`

`


Returns shown for Regular Plan - Growth Option




Returns are of growth option. The returns for the respective periods are provided as on 31 Mar 2017. Returns above 1 year are CompoundedAnnualized. Standard benchmarkis 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. Thereturns 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 shallhave 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.

`


27

HSBC Brazil Fund Date of Inception : 06 May 11

Scheme Name & Benchmarks 1Year

3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


MSCI Brazil 10/40 Index -

MSCI Brazil 10/40 Index -

Nifty 50 -

Nifty 50 -

March 31

120000 360000 600000 700000

131621 403167 585240 665195

18.56 7.51 -0.98 -1.73

138258 420665 607501 670257

29.57 10.40 0.49 -1.47

131527 408910 794302 971273

18.41 8.46 11.17 11.13

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


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


MSCI AC Asia Pacific ex Japan -

MSCI AC Asia Pacific ex Japan -

Nifty 50 -

Nifty 50 -

March 31

120000 360000 NA 370000

129948 403099 NA 415475

15.84 7.50 NA 7.48

132701 385120 NA 395566

20.35 4.44 NA 4.28

131490 408873 NA 425092

18.34 8.46 NA 8.98

HSBC Emerging Markets Fund Date of Inception : 17 Mar 08


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


MSCI Emerging Market Index -

MSCI Emerging Market Index -

Nifty 50 -

Nifty 50 -

March 31

120000 360000 600000 1080000

129781 391520 665252 1319979

15.58 5.54 4.09 4.38

129581 386822 659116 1280596

15.25 4.73 3.72 3.72

131453 408583 793975 1755848

18.28 8.41 11.16 10.48


The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments givenan initial and final value and a series of cash inflows and outflows with correct allowance for the time impact of the transactions. Data as on , 2016.

`

`

March 31






`


28

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


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

March 31

120000 360000 600000 1230000

139481 458572 971941 2798671

31.58 16.38 19.39 15.29

133278 424157 840280 2181623

21.24 10.96 13.45 10.76

131278 408408 793799 2055091

17.97 8.38 11.15 9.66

HSBC Infrastructure Equity Fund Date of Inception : 23 Feb 06


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


S&P BSE 200 -

S&PBSE200 -

Nifty 50 -

Nifty 50 -

$

March 31

India Infrastructure Index

India Infrastructure Index

120000 NA NA 340000

143052 NA NA 407836

37.64 NA NA 12.94

143513 NA NA 401109

38.42 NA NA 11.72

131278 NA NA 311702

17.97 NA NA 8.05

HSBC Dividend Yield Equity Fund Date of Inception : 21 Mar 07


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


S&P BSE 200 -

S&P BSE 200 -

Nifty 50 -

Nifty 50 -

March 31

120000 360000 600000 1210000

135639 436429 870037 2102299

25.15 12.93 14.86 10.56

133278 424157 840280 2134720

21.24 10.96 13.45 10.84

131278 408408 793799 2010186

17.97 8.38 11.15 9.72



`

`

March 31






`


29

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


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


Customised Benchmark Index* -

Customised Benchmark Index -

Nifty 50 -

Nifty 50 -

March 31

120000 NA NA 350000

134168 NA NA 427360

22.75 NA NA 13.83

131724 NA NA 408724

18.73 NA NA 10.65

131367 NA NA 395101

18.12 NA NA 8.28

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


3Years

5Years

SinceInception


Scheme Returns (%)


SchemeBenchmarkReturns(%)



`

`

`

`


CRISIL Balanced Fund – Aggressive Index -

CRISILBalancedFund–AggressiveIndex-

Nifty 50 -

Nifty 50 -

March 31

120000 NA NA 350000

132265 NA NA 422738

19.61 NA NA 13.05

129290 NA NA 399723

14.76 NA NA 9.09

131367 NA NA 395101

18.12 NA NA 8.28

HSBC Midcap Equity Fund Date of Inception : 19 May 05


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


S&P BSE Midcap -

S&P BSE Midcap -

Nifty 50 -

Nifty 50 -

March 31

120000 360000 600000 1430000

138575 483421 1153663 3537462

30.05 20.13 26.51 14.30

137132 477348 1017180 3198735

27.64 19.23 21.26 12.77

131278 408408 793799 2704334

17.97 8.38 11.15 10.19



`

`

March 31




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



`


30

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


3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


Customised Benchmark Index* -

Customised Benchmark Index -

Nifty 50 -

Nifty 50 -

March 31

120000 NA NA 350000

125334 NA NA 397195

8.40 NA NA 8.65

126284 NA NA 406895

9.93 NA NA 10.34

131367 NA NA 395101

18.12 NA NA 8.28

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



3Years

5Years

SinceInception


Scheme Returns (%)





`

`

`

`


MSCI AC World Index -

MSCI AC World Index -

Nifty 50 -

Nifty 50 -

March 31

120000 NA NA 250000

127223 NA NA 266377

11.44 NA NA 6.00

130193 NA NA 272904

16.25 NA NA 8.36

131490 NA NA 278532

18.34 NA NA 10.36



`

`

March 31




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


`

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

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

31

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on 31 )

Average Maturity ofPortfolio

Modified Duration

of Portfolio

Fund Managers

SIPMinimum ApplicationAmountGrowthQuarterly DividendMonthly DividendSIPExit Load

per unit


.03.17

Yield To Maturity*

@

Weighted Average Monthly Total Expenses ratios(Annualized)Regular 2.39%Direct Plan 1.78%Excludes service tax on Investment Management fees of 0.28%of Total NetAssets.

Asset Allocation

Government Securities 39.40%

Corporate/ PSU Debt 31.79%

Equity 23.72%


Cash Equivalents 2.34%



* Based on investedAmount

FUND PORTFOLIO

Corporate/ PSU Debt

Equity

Government Securities

Reverse Repos 679.16 2.34%Net Current Assets 805.72 2.75%Total Net Assets as on 31-Mar-2017 29,081.82 100.00%

Corporate Bonds / Debentures

Equities

Power Grid Corporation of India 1,584.32 5.45% CRISIL AAAPower Finance Corporation 1,017.20 3.50% CRISIL AAAIndia Infradebt 1,016.88 3.50% CRISIL AAAHDFC Bank 707.61 2.43% CARE AAABajaj Finance 699.73 2.41% CRISIL AAAAxis Bank 693.86 2.39% CRISIL AAAIndian Railway Finance Corporation 693.27 2.38% CRISIL AAAPower Finance Corporation 690.37 2.37% CRISIL AAAPower Grid Corporation of India 627.18 2.16% CRISIL AAAHDFC 507.20 1.74% CRISIL AAATata Sons 501.70 1.73% CRISIL AAAPower Grid Corporation of India 208.65 0.72% CRISIL AAANABARD 152.44 0.52% CRISIL AAANTPC 142.19 0.49% CRISIL AAA

HDFC Bank 591.45 2.03%ICICI Bank 488.09 1.68%IndusInd Bank 377.66 1.30%The Ramco Cements 296.72 1.02%Maruti Suzuki India 277.74 0.96%Hindustan Unilever 222.47 0.76%HDFC 214.80 0.74%Infosys 204.45 0.70%Torrent Pharmaceuticals 201.84 0.69%MRF 192.01 0.66%Exide Industries 179.48 0.62%United Spirits 178.33 0.61%Oracle Financial Services Software 171.71 0.59%Crompton Greaves Cons Electrical 169.22 0.58%Somany Ceramics 169.13 0.58%Indo Count Industries 167.83 0.58%Axis Bank 160.98 0.55%Castrol India 159.99 0.55%Sun TV Network 158.13 0.54%The Federal Bank 153.64 0.53%NCL Industries 149.06 0.51%Amara Raja Batteries 146.86 0.50%Gateway Distriparks 146.62 0.50%ITC 145.05 0.50%GlaxoSmithKline Consumer Healthcare 144.37 0.50%Sun Pharmaceutical Ind 139.69 0.48%Heritage Foods 139.52 0.48%LIC Housing Finance 136.06 0.47%IRB Infrastructure Developers 132.38 0.46%OCL India 118.84 0.41%Nilkamal 117.11 0.40%Welspun India 108.12 0.37%Ahluwalia Contracts (India) 106.68 0.37%Karur Vysya Bank 103.88 0.36%IPCA Laboratories 101.43 0.35%Huhtamaki PPL 98.07 0.34%The Jammu & Kashmir Bank 66.00 0.23%Aditya Birla Fashion and Retail 35.32 0.12%Hindustan Dorr-Oliver 27.93 0.10%

7.68% GOVT OF INDIA RED 15-12-2023 2,950.77 10.15% SOVEREIGN7.72% GOVT OF INDIA RED 25-05-2025 2,400.24 8.25% SOVEREIGN7.61% GOVT OF INDIA RED 09-05-2030 1,529.54 5.26% SOVEREIGN8.15% GOVT OF INDIA RED 24-11-2026 1,279.83 4.40% SOVEREIGN8.39% RAJASTHAN SDL RED 15-03-2026 1,045.06 3.59% SOVEREIGN6.84% GOVT OF INDIA RED 19-12-2022 964.35 3.32% SOVEREIGN8.39% RAJASTHAN SPL SDL RED 15-03-2024 726.17 2.50% SOVEREIGN7.80% GOVT OF INDIA RED 11-04-2021 415.10 1.43% SOVEREIGN7.73% GOVT OF INDIA RED 19-12-2034 144.62 0.50% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC MIP - Monthly Dividend

HSBC MIP - Monthly Dividend - Direct Plan

HSBC MIP - Quarterly Dividend

HSBC MIP - Quarterly Dividend - Direct Plan

25-Jan-17 0.07223 0.06692 13.493427-Feb-17 0.07223 0.06692 13.3501

26-Sep-16 0.20223 0.18737 13.745626-Dec-16 0.21668 0.20075 13.2176

26-Sep-16 0.20223 0.18737 14.539526-Dec-16 0.21668 0.20075 14.0147

27-Mar-17 0.07223 0.06692 13.4326

25-Jan-16 0.06862 0.06357 13.8945

27-Mar-17 0.21668 0.20075 13.5578

27-Mar-17 0.21668 0.20075 14.4147

26-Nov-15 0.06862 0.06357 14.267028-Dec-15 0.06862 0.06357 14.1949

Rating24-Feb-04

CRISIL MIP Blended Index

33.6465

6.89 years

4.93 years

28,711.26

Aditya Khemani(for Equity portion) Sanjay

Shah (for Debt portion)

Available

10,00010,00025,000

1,000 p.m.Nil

`

`

`

`

`

7.38%

Rating Profile

Sovereign 39.40%

AAAand equivalents 31.79%

Equity 23.72%

Reverse Repos/ CBLOs 2.34%





Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

HSBC Monthly Income Plan (HMIP)


• Regular Income over mediumterm

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

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


�

�

�



Low riskLOW RISK

(BLUE)



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

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

32

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit


.03.17

@

Weighted Average Monthly Total Expenses ratios(Annualized)Regular 1.84%Direct Plan 1.09%Excludes service tax on Investment Management fees of 0.16%of Total NetAssets.

Asset Allocation







* Based on invested Amount

FUND PORTFOLIO

Corporate/ PSU Debt






Export Import Bank of India 555.55 9.80% CRISIL AAA

Power Grid Corporation of India 361.48 6.37% CRISIL AAA

Tata Sons 301.02 5.31% CRISIL AAA

HDFC Bank 202.17 3.56% CARE AAA

Bajaj Finance 199.92 3.53% CRISIL AAA

Axis Bank 198.25 3.50% CRISIL AAA

Indian Railway Finance Corporation 198.08 3.49% CRISIL AAA

Power Finance Corporation 197.25 3.48% CRISIL AAA

Power Grid Corporation of India 62.72 1.11% CRISIL AAA

7.68% GOVT OF INDIA RED 15-12-2023 896.70 15.81% SOVEREIGN




8.39% RAJASTHAN SPL SDL RED 15-03-2024 207.48 3.66% SOVEREIGN



IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating10-Dec-02

CRISIL Composite BondFund Index

27.2545

6.72 years

4.85 years

7.30%

5,602.20

Sanjay Shah

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

SOVEREIGN 52.53%









`

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

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

26-Sep-16 0.17334 0.16060 11.4814

26-Dec-16 0.17334 0.16060 11.3774

27-Mar-17 0.14445 0.13383 11.1915

12-Jun-09 0.11387 0.10598 11.0294

11-Sep-09 0.11387 0.10598 10.9960

11-Dec-09 0.11387 0.10598 11.0973



Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over longterm

• Investment in diversifiedportfolio of fixed incomesecurities

HSBC Income Fund - Investment Plan (HIF-IP)


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

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

33

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on 31 )


Modified Duration

of Portfolio

Yield To Maturity*

Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit


.03.17

@


Regular 1.25%


Asset Allocation

Corporate/ PSU Debt 87.10%Government Securities 9.83%Net CurrentAssets 2.37%Cash Equivalents 0.45%Money Market Instruments 0.25%Total NetAssets 100.00%



FUND PORTFOLIO

Money Market Instruments

Corporate/ PSU Debt


Reverse Repos 901.92 0.45%Net Current Assets 4,767.76 2.37%Total Net Assets as on 31-Mar-2017 1,99,086.78 100.00%

Commercial Paper


Zero Coupon Bonds

Cox & Kings 494.35 0.25% CARE A1+

Rural Electrification Corporation 10,315.89 5.18% CARE AAALIC Housing Finance 10,173.78 5.11% CRISIL AAANabha Power 10,061.26 5.05% [ICRA]AAA(SO)NABARD 8,129.99 4.08% CRISIL AAANabha Power 7,640.57 3.84% [ICRA]AAALIC Housing Finance 5,151.11 2.59% CRISIL AAAHDFC 5,080.14 2.55% CRISIL AAANABARD 5,074.52 2.55% CRISIL AAAShriram Transport Finance Company 5,037.91 2.53% CRISIL AA+LIC Housing Finance 5,032.73 2.53% CRISIL AAAIndiabulls Housing Finance 5,029.95 2.53% CARE AAATata Capital Financial Services 4,987.46 2.51% [ICRA]AA+Dalmia Cements (Bharat) 4,987.39 2.51% [ICRA]AAIndian Railway Finance Corporation 4,951.93 2.49% CRISIL AAACLP Wind Farm India Pvt 4,034.72 2.03% Fitch AAShriram Transport Finance Company 3,530.50 1.77% CRISIL AA+Power Grid Corporation of India 3,168.63 1.59% CRISIL AAAHDFC 3,100.13 1.56% CRISIL AAANABARD 3,043.11 1.53% CRISIL AAAPower Finance Corporation 3,036.04 1.52% CRISIL AAAPower Finance Corporation 2,584.40 1.30% CRISIL AAAPower Finance Corporation 2,582.44 1.30% CRISIL AAAPower Finance Corporation 2,575.40 1.29% CRISIL AAALIC Housing Finance 2,569.33 1.29% CARE AAASmall Industries Development Bk of India 2,551.16 1.28% CARE AAAHDFC 2,544.05 1.28% CRISIL AAASmall Industries Development Bk of India 2,542.00 1.28% CARE AAAHDFC 2,534.08 1.27% CRISIL AAASRF 2,532.48 1.27% Fitch AANabha Power 2,529.72 1.27% [ICRA]AAA(SO)Power Finance Corporation 2,420.00 1.22% CRISIL AAAHDFC 2,028.82 1.02% CRISIL AAAPower Finance Corporation 1,542.47 0.77% CRISIL AAAIndia Infradebt 1,525.32 0.77% CRISIL AAAPower Finance Corporation 1,523.85 0.77% CRISIL AAASmall Industries Development Bk of India 1,261.77 0.63% CARE AAARural Electrification Corporation 1,041.34 0.52% CRISIL AAAEast North Interconnection Company 1,008.51 0.51% CRISIL AAA (SO)East North Interconnection Company 1,005.28 0.50% CRISIL AAA (SO)East North Interconnection Company 1,003.99 0.50% CRISIL AAA (SO)Power Grid Corporation of India 515.90 0.26% CRISIL AAATata Capital Financial Services 501.26 0.25% CRISIL AA+Cholamandalam Investment & Fin Co 354.07 0.18% [ICRA]AATata Capital Housing Finance 354.05 0.18% CRISIL AA+LIC Housing Finance 353.23 0.18% CARE AAAPower Finance Corporation 329.16 0.17% CRISIL AAARural Electrification Corporation 324.58 0.16% CARE AAAPower Grid Corporation of India 315.89 0.16% CRISIL AAAExport Import Bank of India 162.18 0.08% CRISIL AAASmall Industries Development Bk of India 111.70 0.06% CARE AAANABARD 10.14 0.01% CRISIL AAA

Sundaram BNP Paribas Home Finance 6,451.39 3.24% [ICRA]AA+Sundaram BNP Paribas Home Finance 6,451.39 3.24% [ICRA]AA+JM Financial Products 5,027.09 2.53% CRISIL AALIC Housing Finance 621.70 0.31% CARE AAA

8.40% UTTAR PRADESH SDL RED 10-03-2020 5,162.82 2.59% SOVEREIGN8.15% GOVT OF INDIA RED 24-11-2026 2,666.31 1.34% SOVEREIGN8.25% UTTAR PRADESH SDL RED 29-03-2020 2,572.95 1.29% SOVEREIGN6.84% GOVT OF INDIA RED 19-12-2022 2,511.33 1.26% SOVEREIGN7.72% GOVT OF INDIA RED 25-05-2025 2,082.63 1.05% SOVEREIGN8.39% RAJASTHAN SDL RED 15-03-2026 1,902.02 0.96% SOVEREIGN7.59% GOVT OF INDIA RED 11-01-2026 1,572.03 0.79% SOVEREIGN7.68% GOVT OF INDIA RED 15-12-2023 1,094.81 0.55% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating10-Dec-02

CRISIL Short Term BondFund Index

26.9083

2.66 years

2.19 years

7.55%

2,54,747.31

Sanjay Shah &

Kapil Punjabi

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

Sovereign 9.83%


AA+/AA-/AAand equivalents 22.24%








`

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

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

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

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

25-Jan-17 0.05045 0.04675 11.298727-Feb-17 0.03918 0.03630 11.2257

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

27-Mar-17 0.03579 0.03316 11.2092

27-Feb-17 0.04637 0.04296 11.2799

27-Jul-15 0.05814 0.05387 12.0045

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

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


Investors understand that their principalwill be at Moderately Low risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over Mediumterm

• Investment in diversifiedportfolio of fixed incomesecurities

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



�

�

�



Low riskLOW RISK

(BLUE)



HSBC Cash Fund (HCF)An Open Ended Liquid Scheme

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

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on 31 )


Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Sub Options

Exit Load

per unit


.03.17

@

Asset Allocation

Money Market Instruments 105.49%

Fixed Deposit 5.41%





FUND PORTFOLIO


Fixed Deposit

Net Current Assets -20,128.54 -10.90%

Total Net Assets as on 31-Mar-2017 1,85,006.66 100.00%

Certificate of Deposit

Commercial Paper

Fixed Deposit

IDBI Bank 14,868.22 8.04% CRISIL A1+

Yes Bank 9,937.26 5.37% [ICRA]A1+

Oriental Bank of Commerce 9,918.97 5.36% CRISIL A1+

The Federal Bank 9,911.37 5.36% CRISIL A1+

Vijaya Bank 9,907.22 5.36% CARE A1+

Karur Vysya Bank 9,905.97 5.35% CRISIL A1+

HDFC Bank 7,422.96 4.01% CARE A1+

IDFC Bank 7,414.37 4.01% [ICRA]A1+

Kotak Mahindra Bank 2,479.56 1.34% CRISIL A1+

PTC India Financial Services 12,368.73 6.69% CRISIL A1+

Edelweiss Commodities Services 12,322.75 6.66% CRISIL A1+

SREI Equipment Finance 11,432.90 6.18% [ICRA]A1+

Indiabulls Housing Finance 9,895.17 5.35% CRISIL A1+

Cox & Kings 9,856.22 5.33% CARE A1+

Vedanta 9,461.86 5.11% CRISIL A1+

JK Lakshmi Cement 7,391.01 3.99% CARE A1+

Aditya Birla Finance 4,983.66 2.69% [ICRA]A1+

Capital First 4,970.41 2.69% CARE A1+

Ford Credit India 4,969.99 2.69% Fitch A1+

Motilal Oswal Securities 4,944.08 2.67% CRISIL A1+

Dalmia Cements (Bharat) 4,938.86 2.67% [ICRA]A1+

JM Financial Products 4,932.14 2.67% [ICRA]A1+

Cox & Kings 2,486.81 1.34% CARE A1+

SREI Equipment Finance 2,471.91 1.34% [ICRA]A1+


Cox & Kings 1,977.39 1.07% CARE A1+

Indiabulls Housing Finance 994.10 0.54% CRISIL A1+

Shapoorji Pallonji and Company Pvt 496.71 0.27% [ICRA]A1+

Small Industries Development Bk of India 495.77 0.27% CARE A1+

Union Bank of India 10,000.00 5.41% Fixed Deposit

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating04-Dec-02

CRISIL Liquid Fund Index

1616.9837

0.15 years

0.15 years6.68%

2,47,083.90

Kapil Punjabi

Available

10,000

1,000 p.m.(SIP)

Growth, Daily Dividend,Reinvestment

Weekly Dividend,Reinvestment,

Monthly Dividend (Payout &Reinvestment)

Nil

`

`

`

Rating Profile


Fixed Deposit 5.41%







`

HSBC Cash Fund - Institutional Option - Monthly Dividend

HSBC Cash Fund - Monthly Dividend - Direct Plan

HSBC Cash Fund - Institutional Plus Option - Monthly Dividend

25-Jan-17 3.86666 3.58239 1005.6038

27-Feb-17 4.21365 3.90387 1006.0842

26-Dec-16 3.89795 3.61138 1006.0348

27-Feb-17 2.62904 2.43576 1011.9644

27-Mar17 3.61719 3.35126 1005.2584

27-Mar17 3.68009 3.40953 1013.4196

26-Aug-11 0.04886 0.04686 10.1383

29-Sep-11 0.05876 0.05636 10.1509

28-Oct-11 0.05244 0.05030 10.1428

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


Regular 0.13%

Direct Plan 0.07%


34

Investors understand that their principalwill be at low risk

Riskometer

M

oderately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

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

term• Invests in Money Market

Instruments

HSBC Cash Fund (HCF)



�

�

�



Low riskLOW RISK

(BLUE)



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

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

35

FUND DETAILS

Date of AllotmentBenchmark

NAV (Growth)(as on 31 )Average Maturity ofPortfolioModified Durationof PortfolioYield To Maturity*

Fund Managers

SIPMinimum ApplicationAmountSub Options

Exit Load

per unit


.03.17

@

Asset Allocation


Money Market Instruments 36.91%





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


FUND PORTFOLIO


Corporate/ PSU Debt




Certificate of Deposit

Commercial Paper


Zero Coupon Bonds

IndusInd Bank 2,427.12 6.18% CRISIL A1+

Axis Bank 2,405.01 6.13% [ICRA]A1+

NABARD 2,361.24 6.01% CRISIL A1+

Small Industries Development Bk of India 2,349.20 5.98% CARE A1+

Cox & Kings 2,486.81 6.33% CARE A1+


Rural Electrification Corporation 2,535.78 6.46% CARE AAA

Cholamandalam Investment & Fin Co 2,519.43 6.42% [ICRA]AA

CLP Wind Farm India Pvt 2,518.94 6.42% Fitch AA

NABARD 2,028.74 5.17% CRISIL AAA

Tata Capital Financial Services 2,005.05 5.11% CRISIL AA+

Shriram Transport Finance Company 1,513.07 3.85% CRISIL AA+

HDFC 1,014.61 2.58% CRISIL AAA

1,007.69 2.57% CRISIL AAA

Shriram Transport Finance Company 1,005.42 2.56% CRISIL AA+

East North Interconnection Company 756.15 1.93% CRISIL AAA (SO)

Power Finance Corporation 508.81 1.30% CRISIL AAA

JM Financial Products 2,505.88 6.38% CRISIL AA

LIC Housing Finance 1,968.72 5.01% CARE AAA

1,493.69 3.80% CRISIL AAA

HDFC

HDFC

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating17-Oct-06

CustomisedBenchmark Index**

14.357

0.84 years

0.77 years7.26%

42,155.93

Kapil Punjabi

Available10,000

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

ReinvestmentWeekly Dividend,

ReinvestmentMonthly Dividend (Payout &

Reinvestment)

Nil

`

`

`

Rating Profile


AA+/AA-/AAand equivalents 30.74%




Dividend Declaration

Record Date / periodof dividend declared




`

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

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

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

25-Jan-17 0.04519 0.04187 10.1894

27-Feb-17 0.03709 0.03436 10.1782

25-Jan-17 0.05104 0.04729 10.4004

27-Feb-17 0.04325 0.04007 10.3896

27-Mar-17 0.03115 0.02886 10.1699

28-Jan-11 0.04829 0.04501 10.3821

25-Feb-11 0.04125 0.03845 10.3741

25-Mar-11 0.05214 0.04859 10.3865

27-Mar-2017 0.03644 0.03376 10.3801



Regular 1.00%

Direct Plan 0.20%


Investors understand that their principalwill be at Moderately Low risk

Riskometer

Modera

tely Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately

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

Market Instruments

HSBC Ultra Short Term Bond Fund (HUSBF)


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

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

36

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit


.03.17

@

Asset Allocation








FUND PORTFOLIO

Corporate/ PSU Debt



Net Current Assets 1,481.78 3.34%



Power Grid Corporation of India 2,220.50 5.02% CRISIL AAA

Power Grid Corporation of India 1,923.35 4.35% CRISIL AAA

Tata Sons 1,705.78 3.86% CRISIL AAA

HDFC Bank 1,617.40 3.66% CARE AAA

Bajaj Finance 1,599.39 3.61% CRISIL AAA

Axis Bank 1,585.97 3.58% CRISIL AAA

Indian Railway Finance Corporation 1,584.62 3.58% CRISIL AAA

Power Finance Corporation 1,577.99 3.57% CRISIL AAA

Power Finance Corporation 1,525.79 3.45% CRISIL AAA

Rural Electrification Corporation 1,489.95 3.37% CARE AAA

7.61% GOVT OF INDIA RED 09-05-2030 5,289.50 11.96% SOVEREIGN



8.53% BIHAR SDL RED 30-03-2022 2,089.61 4.72% SOVEREIGN

8.39% RAJASTHAN SPL SDL RED 15-03-2024 1,659.81 3.75% SOVEREIGN

7.64% UTTAR PRADESH SDL RED 29-03-2027 1,504.37 3.40% SOVEREIGN



8.39% RAJASTHAN SDL RED 15-03-2026 710.64 1.61% SOVEREIGN



IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating05-Oct-07

CRISIL Composite BondFund Index

22.2659

7.18 years

5.09 years

7.35%

43,938.38

Sanjay Shah

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

Sovereign 52.97%





Dividend Declaration

Record Date / periodof dividend declared




`

HSBC Flexi Debt Fund - Regular Option - Monthly Dividend

HSBC Flexi Debt Fund - Institutional Option - Monthly Dividend

HSBC Flexi Debt Fund - Monthly Dividend - Direct Plan

HSBC Flexi Debt Fund - Regular Option - Quarterly Dividend

HSBC Flexi Debt Fund - Institutional Option - Quarterly Dividend

HSBC Flexi Debt Fund - Quarterly Dividend - Direct Plan

HSBC Flexi Debt Fund - Regular Option - Half Yearly Dividend

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

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

26-Apr-13 0.05836 0.04973 10.4949

31-May-13 0.11214 0.10740 10.6718

28-Jun-13 0.03263 0.03125 10.4175

26-Sep-16 0.11661 0.10804 10.7465

25-Oct-16 0.03997 0.03703 10.6404

25-Jun-15 0.18057 0.16729 11.8869

28-Sep-15 0.18057 0.16729 11.9644

26-Sep-16 0.18057 0.16729 12.1092

26-Dec-16 0.18057 0.16729 12.0373

26-Sep-16 0.18057 0.16729 12.5281

26-Dec-16 0.18779 0.17398 12.4859

15-Mar-13 0.35236 0.30201 11.6629

28-Mar-16 0.36113 0.33458 12.1335

26-Sep-16 0.36113 0.33458 12.5188

27-Mar-17 0.36113 0.33458 12.2875

28-Mar-16 0.36113 0.33458 11.5335

26-Sep-16 0.36113 0.33458 11.9179

25-Nov-16 0.32168 0.29803 11.0304

25-Aug-15 0.06760 0.06263 10.8080

28-Sep-15 0.09852 0.09127 10.8504

26-Oct-15 0.11441 0.10600 10.8719

25-Mar-15 0.18147 0.16829 12.2052

27-Mar-17 0.36113 0.33458 11.7165

27-Mar-17 0.18057 0.16729 11.8718

27-Mar-17 0.18057 0.16729 12.3364

14-Sep-12 0.35236 0.30201 11.4315



Regular 1.60%Direct Plan 0.85%



Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


• Regular Income over longterm

• Investment in Debt / MoneyMarket Instruments

HSBC Flexi Debt Fund (HFDF)


37

HSBC Monthly Income Plan

HSBC Income Fund - Investment Plan

HSBC Income Fund - Short Term Plan

HSBC Cash Fund

HSBC Ultra Short Term Bond Fund

HSBC Flexi Debt Fund

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

Sanjay Shah (from 09 January 2009)

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

Kapil Punjabi (from 14 March 2014)

Kapil Punjabi (from 18 October 2014)

Sanjay Shah (from 09 January 2009)

Name of Scheme Fund Manager

Fund Manager’s Experience

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

Experience:

Over 17 years of experience in research and risk

HSBC Asset Management (India) Private Ltd

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

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

FIL Fund Management Private Ltd

Credit Analyst from September 2008 to December 2008

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

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

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

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

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Kapil Punjabi

Vice President & Fund Manager - Fixed Income

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

Experience:

Over 10 years of experience in research and Fund Management

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

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

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

Edelweiss Securities LimitedManager - Investments from October 2007 to November 2009

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

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

HSBC Monthly Income Plan Date of Inception : 24 Feb 04


HSBC Monthly Income Plan - Growth

Crisil MIP Blended Index (Scheme Benchmark)

Crisil 1 Year T-Bill Index (Standard Benchmark)


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

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

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


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12.99% 11.06% 10.67% 9.70%

12.30% 11.37% 9.92% 8.08%

7.15% 7.85% 7.54% 5.99%

11.87% 11.43% 8.79% 5.82%

11,299 13,699 16,599 33,655

11,230 13,814 16,045 27,703

10,715 12,546 14,382 21,446

11,187 13,835 15,242 20,995

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` ` ` `

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Returns are of growth option. The returns for the respective periods are provided as on 31 Mar 2017. 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-pointreturns vis-a-vis returns indicated above. Different plans shall have a different expense structure. The performance details provided herein are of other thanDirect plan.Scheme count for the total schemes managed by the Fund Managers does not include closed ended scheme.

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Fund Manager Wise Comparative Performance of Debt Schemes

38


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

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

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

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


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


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


HSBC Income Fund - Investment Plan - Growth

Crisil Composite Bond Fund Index (Scheme Benchmark)


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

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


`

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9.17% 9.56% 8.27% 7.26%

11.09% 11.26% 9.45% 6.86%

11.87% 11.43% 8.79% 6.34%

10,917 13,151 14,876 27,260

11,109 13,774 15,705 25,859

11,187 13,835 15,242 24,124

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` ` ` `

` ` ` `


HSBC Flexi Debt Fund Date of Inception: 05 Oct 07


HSBC Flexi Debt Fund - Growth

Crisil Composite Bond Fund Index (Scheme Benchmark)


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

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


`

`

`

9.85% 9.73% 8.79% 8.81%

11.09% 11.26% 9.45% 8.02%

11.87% 11.43% 8.79% 7.33%

10,985 13,214 15,242 22,286

11,109 13,774 15,705 20,796

11,187 13,835 15,242 19,582

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` ` ` `

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Fund Manager Wise Comparative Performance of Debt Schemes

39


Funds Managed by Sanjay Shah (Total Schemes Managed 10)

Funds Managed by Kapil Punjabi (Total Schemes Managed 3)

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


HSBC Income Fund - S T P - Growth

Crisil Short Term Bond Fund Index (Scheme Benchmark)


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

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


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8.26% 8.54% 8.45% 7.16%

9.10% 9.29% 9.15% 7.19%

7.15% 7.85% 7.54% 5.94%

10,826 12,785 15,002 26,913

10,910 13,053 15,492 27,015

10,715 12,546 14,382 22,845

` ` ` `

` ` ` `

` ` ` `


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

The returns for the respective periods are provided as on 31 Mar 2017. Returns above 1 year are CompoundedAnnualized. Standard benchmark is prescribed by SEBI and is usedfor 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 beenrounded 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. Theperformance 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.

`

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

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

HSBC Cash Fund@ Date of Inception: 04 Dec 02

Scheme Name & Benchmarks 1 Year 3 Years 5 Years SinceInception

HSBC Cash Fund - Growth

Crisil Liquid Fund Index (SchemeBenchmark)

Crisil 91 Day T-Bill Index (StandardBenchmark)

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10,000, if invested in HCF, would havebecome

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

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

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


HSBC Ultra Short Term Bond Fund - Growth



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



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7.40% 8.10% 8.37%

7.31% 7.24% 8.42%

7.15% 7.85% 7.43%

10,740 12,633 14,360

10,640 12,331 14,392

10,715 12,546 13,809

` ` `

` ` `

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Last 7 Daysas on 31Mar 2017

Last 15 Daysas on 31

2017Mar

Last 30 Daysas on 31Mar 2017

7.00% 6.91% 6.66% 7.21% 8.10% 8.53% 8.53%

7.21% 7.18% 6.68% 7.11% 8.04% 8.36% 8.39%

6.41% 6.37% 6.35% 6.70% 7.78% 8.09% 8.01%

10,013 10,028 10,055 10,721 12,630 15,057 16,173

10,014 10,030 10,055 10,711 12,611 14,939 16,053

10,012 10,026 10,052 10,670 12,521 14,753 15,721

` ` ` ` ` ` `

` ` ` ` ` ` `

` ` ` ` ` ` `


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

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

1 Year 3 Years


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

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


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

Fund Manager

ApplicationAmount for Fresh Subscription

MinimumAdditionalAmount

Yield to Maturity

SIP

NAV

Benchmark

Entry Load

Exit Load

Modified Duration

Standard Deviation

Sharpe Ratio

Beta

AUM

Holdings

Nature of Scheme

Rating Profile

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Section II - How to read Factsheet

40

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

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

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

invested).

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

does not constitute an offering document.

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

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

Management (India) Private Ltd.

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

022-49146254

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

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Statutory Details & Disclaimers