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HSBC Arbitrage Fund - Direct Growth is a hybrid scheme managed by HSBC Mutual Fund. Over rolling three-year windows since inception, investors earned a median compounded return of 7.54%, with the bottom and top quartiles at 7.48% and 7.57% respectively. It has ranked in the top half of its category for 0 of the last 1 reported years. The total expense ratio is 1.70% on assets of ₹2,532Cr. The fund is currently managed by Praveen Ayathan, appointed within the last year.
Lower is better.
This scheme classifies as Large-Value on the 3x3 equity style box, with 94% of its portfolio classified as of 2026-05-29.
| Holding | Sector |
|---|
| Window | Min | P25 | Median |
|---|
Point-in-time CAGRs cherry-pick a single start date. The chart below shows the distribution of every possible rolling start over the fund's history, so you see the range of investor outcomes — not just one date's number.
Backtested SIP outcomes across both rolling-window scenarios and named historical stress events (COVID, Election uncertainty, Russia/Ukraine, etc.), plus per-manager alpha during their tenure on this scheme.
Same fund, monthly SIPs over rolling 1/3/5-year windows.
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully. Past performance is not indicative of future results. MintByte is an AMFI-registered Mutual Fund Distributor (ARN-314872) and APMI member (APRN-01658). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Star ratings on this page reflect a 3-year category-quartile position computed in-house and are educational only.
Mutual fund schemes are subject to market risk. Read all scheme-related documents carefully before investing. Past performance is not indicative of future results. MintByte is an AMFI-registered mutual fund distributor (ARN-314872). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Not investment advice. Methodology · How we earn.
In-house derivations using 3-year daily NAV vs benchmark. See methodology.
| Weight |
|---|
| ICICI BANK LIMITED | Financial Services | 6.03% |
| HDFC BANK LIMITED | Financial Services | 5.99% |
| STEEL AUTHORITY OF INDIA LIMITED | Basic Materials | 3.81% |
| RBL BANK LIMITED | Financial Services | 3.03% |
| GODREJ PROPERTIES LIMITED | Real Estate | 2.58% |
| BANDHAN BANK LIMITED | Financial Services | 2.53% |
| NMDC LIMITED | Basic Materials | 2.52% |
| AXIS BANK LIMITED | Financial Services | 1.85% |
| ITC LIMITED | Consumer Defensive | 1.81% |
| JSW STEEL LIMITED | Basic Materials | 1.76% |
| RELIANCE INDUSTRIES LIMITED | Energy | 1.40% |
| YES BANK LIMITED | Financial Services | 1.36% |
| GLENMARK PHARMACEUTICALS LIMITED | Healthcare | 1.26% |
| HDFC ASSET MANAGEMENT COMPANY LTD | Financial Services | 1.26% |
| PUNJAB NATIONAL BANK | Financial Services | 1.20% |
| STATE BANK OF INDIA | Financial Services | 1.16% |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED | Industrials | 1.15% |
| CONTAINER CORPORATION OF INDIA LTD. | Industrials | 1.08% |
| LIC HOUSING FINANCE LIMITED | Financial Services | 1.07% |
| DLF LIMITED | Real Estate | 0.96% |
| CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED | Consumer Cyclical | 0.90% |
| LAURUS LABS LIMITED | Healthcare | 0.84% |
| AU SMALL FINANCE BANK LIMITED | Financial Services | 0.82% |
| MAHINDRA AND MAHINDRA LIMITED | Consumer Cyclical | 0.81% |
| THE FEDERAL BANK LIMITED | Financial Services | 0.78% |
| Sector | Holdings | Weight |
|---|---|---|
| Financial Services | 31 | 36.32% |
| Metals & Mining | — | 9.27% |
| Realty | — | 4.31% |
| Fast Moving Consumer Goods | — | 3.11% |
| Healthcare | 6 | 2.99% |
| Power | — | 2.78% |
| Services | — | 2.33% |
| Automobile and Auto Components | — | 2.12% |
| Capital Goods | — | 1.94% |
| Consumer Services | — | 1.76% |
Active bets vs the average Hybrid fund. Biggest deviations shown first.
Accent bar = fund's actual sector weight. Vertical black tick = category average for the same sector. Green overlay = overweight, dashed red = underweight. The biggest active bets show first.
| P75 |
|---|
| Max |
|---|
| Positive % |
|---|
| 1Y | 5.93% | 6.99% | 7.74% | 8.09% | 8.59% | 100.0% |
| 3Y | 7.24% | 7.48% | 7.54% | 7.57% | 7.70% | 100.0% |
Each cell is one year. Q1 = top quartile within the AMFI category for that period. Cell label is the last two digits of the year.
Top-10 weight 31.9% means the portfolio is broad — even the top names don't dominate. Effective-N is the inverse Herfindahl index — a measure of "how many positions effectively drive the fund" after weighting. Category: Hybrid.
Compounding maths on a notional ₹10 lakh lumpsum at 12% gross annual return. Green bar is what you'd have without the fee; red overlay is the fee drag. Fee is constant in this scenario — actual outcomes depend on real returns and any future TER changes.
What an investor SIPping into this fund actually got during named market shocks.
Each row is a back-tested SIP — monthly contribution over the regime's duration, no fees adjustment beyond NAV-baked TER. XIRR is the annualised IRR of those cashflows; Abs return is the absolute cash-on-cash; Max DD is the deepest drawdown experienced mid-investment. Past performance is not indicative of future results.
Alpha is the annualised excess return vs benchmark over the manager's tenure on this scheme. Beat-benchmark = total return beat the index over the same window.