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HSBC Business Cycles Fund - Regular Growth is an equity scheme managed by HSBC Mutual Fund. Over rolling three-year windows since inception, investors earned a median compounded return of 18.67%, with the bottom and top quartiles at 17.22% and 19.72% respectively. It has ranked in the top half of its category for 4 of the last 11 reported years. Risk-adjusted return (Sharpe ratio) is 0.00. The total expense ratio is 2.57% on assets of ₹1,149Cr. The fund is currently managed by Gautam Bhupal, appointed within the last year.
Lower is better.
This scheme classifies as Large-Blend on the 3x3 equity style box, with 67% of its portfolio classified as of 2026-04-30.
| 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.
| Scheme | AMC | AUM | TER | 3Y |
|---|
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 |
|---|
| Multi Commodity Exchange of India Ltd | Financial Services | 3.26% |
| Hindustan Aeronautics Ltd | Industrials | 2.41% |
| Kotak Mahindra Bank Limited | Financial Services | 1.84% |
| Swiggy Pvt Ltd | Consumer Cyclical | 1.50% |
| Piramal Finance Limited | Financial Services | 1.30% |
| Jyoti CNC Automation Ltd | Industrials | 1.01% |
| Tata Motors Limited | Consumer Cyclical | 0.89% |
| Epigral Limited | Basic Materials | 0.81% |
| Pine Labs Limited | Technology | 0.79% |
| Bansal Wire Industries Limited | Basic Materials | 0.77% |
| Aditya Birla Real Estate Limited | Real Estate | 0.55% |
| Bharat Bijlee Limited | Industrials | 0.48% |
| PG Electroplast Limited | Technology | 0.31% |
| Hi-Tech Pipes Limited | Basic Materials | 0.21% |
| Sector | Holdings | Weight |
|---|---|---|
| Banks | 1 | 14.58% |
| Capital Markets | 1 | 10.91% |
| Aerospace & Defense | 1 | 8.25% |
| Finance | 1 | 6.89% |
| Construction | 5 | 6.74% |
| Retailing | 1 | 6.08% |
| Consumer Durables | 1 | 5.79% |
| Petroleum Products | 1 | 5.00% |
| Electrical Equipment | 1 | 4.19% |
| Industrial Products | 2 | 4.09% |
| Industrial Manufacturing | 1 | 3.54% |
| Financial Technology (Fintech) | 1 | 2.52% |
| Non - Ferrous Metals | 1 | 2.44% |
| Transport Services | 2 | 2.38% |
| Textiles & Apparels | 3 | 2.25% |
| Cement & Cement Products | 1 | 1.98% |
| Chemicals & Petrochemicals | 1 | 1.80% |
| Automobiles | 1 | 1.52% |
| Fertilizers & Agrochemicals | 1 | 1.46% |
| Ferrous Metals | 1 | 1.29% |
| Realty | 1 | 1.03% |
| Auto Components | 2 | 0.99% |
| Agricultural Commercial & Construction Vehicles | 1 | 0.89% |
| Leisure Services | 1 | 0.70% |
| Paper, Forest & Jute Products | 1 | 0.55% |
| Commercial Services & Supplies | 1 | 0.46% |
Active bets vs the average Equity 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.
How crowded into the same stocks is this fund vs the largest fund in its category?
Category leader = highest-AUM scheme in the same SEBI category. A high overlap-of-weight number means the fund is concentrated into the same names as the leader (crowded); a low one means it's genuinely differentiated.
| P75 |
|---|
| Max |
|---|
| Positive % |
|---|
| 1Y | -9.13% | 2.55% | 13.37% | 44.29% | 57.81% | 81.0% |
| 3Y | 14.40% | 17.22% | 18.67% | 19.72% | 21.69% | 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 14.6% 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: Equity.
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.
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.
Does the fund get worse as it gets bigger? Each dot is one historical manager-tenure: AUM at tenure-end vs alpha delivered during that tenure.
Correlation is too weak to confirm or rule out capacity-driven alpha decay. Re-evaluate as more manager-tenure data accumulates.
Each dot is one manager-tenure: X = AUM at tenure end, Y = alpha during that tenure. Connecting line in chronological order. Pearson r measures the linear relationship between AUM and alpha across the historical record. n = 2 data points.
| 5Y |
|---|
| Star |
|---|
| quant Business Cycle Fund - Growth Option - Regular Plan | Quant Mutual Fund | ₹971 Cr | 3.49% | +17.86% | — | 3★ |
| Tata Business Cycle Fund-Regular Plan-Growth | Tata Mutual Fund | ₹2,637 Cr | 2.06% | +15.17% | — | 4★ |
| Kotak Business Cycle Fund-Regular Plan--Growth | Kotak Mahindra Mutual Fund | ₹3,064 Cr | 2.00% | +14.86% | — | 4★ |
| Baroda BNP Paribas Business Cycle Fund - Regular Plan - Growth | Baroda BNP Paribas Mutual Fund | ₹561 Cr | 2.45% | +13.74% | — | 4★ |
| Axis Business Cycles Fund - Regular Plan - Growth | Axis Mutual Fund | ₹2,079 Cr | 3.16% | +13.43% | — | 4★ |
| Aditya Birla Sun Life Business Cycle Fund-Regular-Growth | Aditya Birla Sun Life Mutual Fund | ₹1,687 Cr | 2.08% | +11.81% | — | 3★ |
| Motilal Oswal Business Cycle Fund-Regular Plan-Growth | Motilal Oswal Mutual Fund | ₹1,571 Cr | 2.13% | — | — | 3★ |
| Bandhan Business Cycle Fund - Regular Plan - Growth | Bandhan Mutual Fund | ₹1,227 Cr | 4.22% | — | — | 2★ |
| DSP Business Cycle Fund - Regular - Growth | DSP Mutual Fund | ₹1,143 Cr | 2.94% | — | — | 2★ |
| Invesco India Business Cycle Fund - Regular Plan - Growth | Invesco Mutual Fund | ₹1,016 Cr | 2.21% | — | — | 5★ |