the assetfund portfolio auto auto ancillaries banks cement construction construction project...

The AssetFactsheet – July 2015

Index

Fund Manager Commentary

HSBC Equity Fund

HSBC India Opportunities Fund

HSBC Midcap Equity Fund

HSBC Progressive Themes 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

Comparative Performance of Equity Schemes

HSBC MIP - Savings Plan

HSBC MIP - Regular Plan

HSBC Income Fund - Investment Plan

HSBC Income Fund - Short Term Plan

HSBC Floating Rate Fund - Long Term Plan

HSBC Cash Fund

HSBC Gilt Fund

HSBC Ultra Short Term Bond Fund

HSBC Flexi Debt Fund

Fund Managers - MIP & Debt

Comparative Performance of MIP & Debt Schemes

HSBC Dynamic Fund

HSBCAsia Pacific (Ex Japan) Dividend Yield Fund

HSBC Global Consumer Opportunities Fund

01

05

06

07

08

09

10

11

12

13

14

15

16

17

19

21

25

26

27

28

29

30

31

32

33

34

35

18

RBI's Monetary Policy

The Reserve Bank of India (RBI) kept the policy rates unchanged in its third bi-monthly monetary policy meet. Moreover, the RBI governorquelled concerns around Monetary Policy Committee (MPC) structure and RBI Governor's veto rights, which will be announced in nearfuture.

Domestic consumption continues to be weak, but manufacturing activity has picked up in July 2015. After strong rainfall in June 2015, the

monsoon is near normal. The kharif sowing for oilseed, pulses and rice are relatively better than year ago. These developments supported by

contingency plans for vulnerable districts provide cushion against adverse weather shocks. The RBI survey indicates flat capacity utilization

and new orders. Decline in corporate sales is partly explained by lower inflation. Overall business confidence is positive

Sharp fall in international commodity prices, especially crude oil and compressed import payments is helping to narrow the trade deficit.

Domestic production shortages and lower international prices were evident in electronic goods, pulses, iron ore and fertilisers. Lower current

account deficit, sustained foreign direct investment and non-resident deposits have helped build all time high forex reserve position despite

slowing portfolio flows. The forex reserves provide buffer against adverse global shocks.

The RBI also mentioned medium term plan for the debt limits of Foreign Portfolio Investors (FPIs) in INR terms and as a percentage of

outstanding debt. These will be positive developments, which can spring on in the next three months.

The RBI has listed down four factors for the future action in rates:

Fuller transmission by banks of the RBI frontloaded rate reductions into their lending rates

Development on food prices and their management especially the effects of monsoon

Continuation of policy efforts to clear the supply side constraints so as to make available key inputs such as power and land as also

repurposing public spending (targeting subsidy) and reducing stalled investment projects

Signs of normalisation of the US monetary policy

Headline Consumer Price Index (CPI) inflation moved up marginally for the month of June 2015 and came above consensus expectations at

5.4% YoY vs. 5% for May 2015. The uptick in the headline inflation was mainly on account of the increase in food inflation. Core inflation also

rose during the month to 4.6% YoY, vs. 4.4% in May 2015.

External Markets:

The Consumer Price Index (CPI) inches up, more than expectation; WPI inflation stays in negative territory

�

�

�

�

�

Bi-Monthly Monetary Policy - OverallAssessment and Outlook

Lead Indicators


01

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

10.00%

Jul-07

Jan-0

8

Jul-08

Jan-0

9

Jul-09

Jan-1

0

Jul-10

Jan-1

1

Jul-11

Jan-1

2

Jul-12

Jan-1

3

Jul-13

Jan-1

4

Jul-14

Jan-1

5

Jul-15

Repo Rate Movement

Repo Rate

0

1

2

3

4

5

6

7

8

9

10

Jan-1

4

Feb-1

4

Mar-

14

Apr-

14

May-1

4

Jun-1

4

Jul-14

Aug-1

4

Sep-1

4

Oct-

14

Nov-1

4

Dec-1

4

Jan-1

5

Feb-1

5

Mar-

15

Apr-

15

May-1

5

Jun-1

5

CPI Inflation (%)

Consumer Price Index (CPI)


The Wholesale Price Index (WPI) saw the eighth consecutive month of deflation. Core WPI inflation declined further at -0.9% (YoY vs. -0.6%

in May-15). The impact of fall in international oil & commodity prices weighed on the deflationary trends exhibited by the WPI index.

Industrial Production data as measured by the Index of Industrial Production (IIP) saw a moderation in growth for May 2015 at 2.7% YoY, vs.

3.4% revised growth in April 2015. This reading also came below consensus expectations. The moderation in growth was on account of

contraction in consumer goods and a slowdown in capital goods. As mentioned in the previous commentaries, the IIP growth data should be

viewed along with other macro demand indicators and not in isolation, given the volatility associated with this data point.

Foreign Institutional Investors (FIIs) turned net buyers in Indian equities after a brief pause of two months while inflows from the domestic

Mutual Fund (MF) segment continued on a good momentum. The FII segment saw inflows of USD 882 million during the month of July 2015,

taking the year-to-date (YTD) tally to ~USD 7.1 billion of inflows. The Domestic MFs saw another month of good inflows at ~USD 680 million

and ~USD 5.9 billion (YTD) of net equity inflows.

The trade data failed to bring much cheer as the deficit inched up marginally during June 2015 on the back of weak exports (at USD 10.8

billion vs. 10.4 billion in May 2015). Exports at ~USD 22.3 billion (-15.8% YoY in June 2015 vs. -20.2% in May 2015) remained subdued on the

back of soft commodity exports while manufactured goods export saw some improvement. Imports also declined at USD 33.1 billion in June

2015 (-13.4% YoY vs. -16.5% in May 2015). On the imports front, both oil and gold imports declined during the month while non-oil, non-gold

import growth saw a marginal growth indicating some revival in the domestic demand environment.

The crucial Greek negotiations finally saw a breakthrough with Greece agreeing to meet conditions demanded by creditors for a new bailout

programme funded by the European Stability Mechanism (ESM). With this agreement, the risk of a Grexit (Greek exit from the euro) has

declined. Elsewhere in the US, the Federal Reserve kept its monetary policy unchanged, reiterating that the decision to hike rates will be

data-dependent and that the normalisation process will be gradual. Chinese equity market saw sell-off after hitting a peak in mid-June,

leading to a sharp correction, which is reckoned to be driven by liquidity and leverage rather than fundamentals. In another key development

pertaining to West Asia region, Iran and 6 major world powers including the US, inked a landmark nuclear deal. Under the deal, sanctions

imposed by the US, the European Union and the United Nations will be lifted in return for Iran agreeing to long-term curbs on a nuclear

programme it was pursuing.

Data on Institutional Flows:

Trade deficit data:

Index of Industrial Production (IIP) continues flip-flop

External

Global Economic Scenario

02

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

Jan

-13

Ma

r-1

3

Ma

y-1

3

Jul-

13

Se

p-1

3

No

v-1

3

Jan

-14

Ma

r-1

4

Ma

y-1

4

Jul-

14

Se

p-1

4

No

v-1

4

Jan

-15

Ma

r-1

5

Ma

y-1

5

Index of Industrial Production (IIP)

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

Equity Market Update

Broader market indices outperform

Indian equity market fared relatively well in the midst of a host of global news flows during the month of July 2015. Continued weakness &

further fall in global commodity prices turned out to be a positive factor for India, while some policy announcements towards the end of the

month also helped investor sentiments.

The announcement of a comprehensive package for capital infusion into the Public Sector Banks (PSBs) came as a positive trigger for

markets in general and the PSBs in particular. Under this plan, 22 PSBs will be capitalised over a period of 4 years with the total outlay

proposed at INR 700 billion (~USD 11 billion) to ensure Basel III compliance. The Employee Provident Fund Organisation (EPFO), is

expected to kick-start its maiden equity market investments fromAugust 2015 onwards. The quarterly earnings season has been a mixed bag

so far and has been devoid of any large positive or negative surprises. Monsoon scenario improved marginally after a weak start in July 2015

with the cumulative rainfall deficit narrowing to 5% below normal and this tracked above the full season projection by the Indian

Meteorological Department (IMD) (88% of the Long PeriodAverage). On the flipside, the monsoon session of the Parliament saw disruptions

and this has prevented any meaningful business during the session so far.


Market indices S&P BSE Sensex and NSE CNX Nifty gained 1.2% and 2% respectively while the broader market indices

outperformed. S&P BSE Midcap & Smallcap indices saw handsome gains at 5.6% and 6.8% respectively in July 2015.

Indian equity markets held up well during July 2015 amid some volatile global markets and external news flows. The key

aspects to watch-out for in the near term are the progress of the monsoon rainfall for the remainder of the season, the trends

emerging from the quarterly earnings season and the ongoing Monsoon session of the Parliament and the fate of the key

pending legislation items such as the GST implementation and the Land Acquisition bill. Externally, the fall-out of the 'known-

unknown' from the Greece crisis and the US Fed rate hike are the key aspects to watch-out for in the near to medium term.

However, the longer term picture for India is positive and results from equity investments should be judged from a long term

perspective. India remains one of the fastest growing economies in the world and we have witnessed improvement in all macro

parameters during the past couple of years. Most of the macro issues relating to bottom of GDP growth, the peaks of current

account deficit, fiscal deficit, inflation, and interest rates are behind us. With a rebound in GDP, corporate earnings are bound to

recover and revert to mean profitability. However, the pace of the corporate earnings recovery may only be gradual and we

expect FY16 to be a transitional year on this front. Further, reform initiatives by the government and continuation of the

monetary easing cycle by the RBI could help to accelerate the process of revival in domestic growth.

Bond prices continued to remain volatile during the month. Decline of crude prices, continued comments on re-balancing of Foreign

Institutional Investors (FII) limit, stability in global markets particularly Greek solution and normal progression of monsoon all contributed

towards softening of yields. However, Open Market Operation (OMO) sells by the RBI and higher than expected CPI release reversed bulk of

the gain earned during earlier part of the month.

Corporate bond spreads compressed further as market started aligning to new 10 year benchmark government securities. Corporate bonds

also witnessed healthy demand from end-investors as a result of which yields were protected.

Overnight and money market rates eased significantly as system liquidity tuned positive on back of front loading of government expenditure

and reversal of currency leakage (currency movement back into the financial system).

Inflation conditions have evolved around the projected path by the RBI, though there was upwards spike in June 2015. Large base effects are

expected to pull down inflation in July and August 2015. In the coming month's significant uncertainty will be resolved, including the likely

persistence of recent inflationary pressure, monsoon and US Federal Reserve (Fed) interest rate action. This will likely create more room for

accommodation in policy rates.

We also expect amicable solution to monetary policy committee issue, with the RBI Governor indicating that the MPC has benefits of

spreading the responsibility, better decision making and continuity of thought process.

Transmission is the main trigger that the RBI is looking at and the same could be achieved now with strong push from the RBI to banks. Also

with credit growth at single digit and with the government infusing capital, it is imperative for banks to pass on the rate reduction to borrowers.

However, we feel that with the overnight rate at 7.25, it is good value to buy 10 year G-sec at around 7.80 levels. Next one month is likely to

witness balance supply of G-Sec and thereafter September 2015 may witness a limited supply. With ample liquidity and credit offtake at lower

levels, it makes sense for banks to chase the G-sec.

Easing of inflation trends and government's initiatives and policies to ease supply side bottlenecks could pave way for rate reduction in the

second half of the year which augurs well for maintaining duration bias on INR rates.

Equity Market – Going forward

Debt Market Update

Debt Market – Going forward

03Source: Bloomberg, for all data except where mentioned otherwise

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

S&PSensex

S&PBSE100

S&PBSE200

S&PBSE500

S&P

MidCapBSE

S&P BSEMidCap

SmallCap

Indices Performance - Jul 2015

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 S&P BSE Midcap Index was reconstituted in mid of April ’2015 and hence the relative sector positioning of the fund vs. the benchmark has changed.

Review: HSBC Equity FundBeing overweight information technology and underweight telecommunication, utilities helped performance while being overweight

consumer discretionary, financials and underweight consumer staples, materials hurt performance.

Review: HSBC India Opportunities FundBeing underweight energy, telecommunication, utilities helped performance while being overweight industrials, information

technology and underweight consumer staples hurt performance.

Review: HSBC Midcap Equity FundBeing overweight consumer discretionary, energy, industrials and underweight consumer staples, financials, healthcare, information

technology, telecommunication, utilities helped performance while being overweight materials hurt performance.

Review: HSBC Progressive Themes Fund

Currently focusing on the following themes;

1. Economic Reforms (23.6%) which includes Financial sector reform- 9.4% and Oil & Gas Sector deregulation sub theme- 14.2% and

2. Infrastructure (59%) which includes Power- 7.1%, Construction– 32.4% and Logistics- 19.5%. Well diversified exposure across

sectors encompassing the above themes.

Review: HSBC Dynamic FundThe cash levels and sector allocation in the fund are likely to change depending on the market conditions and technical factors.

Review: HSBC MIP Regular and Savings PlansOur current exposure is 15.22% in HMIP Regular and 24.30% in HMIP Savings plan. 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

Total Expense Ratio as on July 31, 2015

Annualised Expense Ratio from 1st April 2015onwards

Portfolio Turnover

Regular 2.39%

Direct Plan 1.69%

Regular 2.39%

Direct Plan 1.69%

0.59

Excludes service tax on Investment Management fees of 0.20%of Total NetAssets.


Asset Allocation

Auto 9.76%

AutoAncillaries 2.16%

Banks 26.67%

Cement 2.94%

Construction 2.13%

Construction Project 2.09%

Consumer Non Durables 5.75%

Finance 6.05%

Minerals/Mining 3.76%

Pesticides 2.29%

Petroleum Products 5.92%

Pharmaceuticals 7.50%

Services 2.57%

Software 15.89%

Transportation 2.53%

Reverse Repos/CBLOs 2.19%

Net CurrentAssets -0.20%

Total NetAssets 100.00%

Statistical ratios disclosed as per daily returns of the last 3years/since inception, whichever is later.

@ Effective from March 1, 2013 for prospective investments.

**Risk free rate:7.62% (364 days Treasury bill yield on July 31,2015).

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

Auto Ancillaries

Banks

Cement

Construction

Construction Project

Consumer Non Durables

Finance

Minerals/Mining

Pesticides

Petroleum Products

Pharmaceuticals

Services

Software

Transportation

Cash Equivalents

CBLO 1,404.15 2.19%

Net Current Assets -122.00 -0.20%

Total Net Assets As On 31-Jul-2015 64,253.53 100.00%

Tata Motors 2,686.95 4.18%

Maruti Suzuki India 2,512.24 3.91%

Hero Motocorp 1,073.08 1.67%

Motherson Sumi Systems 1,389.80 2.16%

HDFC Bank 5,002.43 7.79%

Axis Bank 3,727.75 5.80%

ICICI Bank 3,024.00 4.71%

Yes Bank 2,072.38 3.23%

Indusind Bank 1,955.40 3.04%

State Bank Of India 1,350.25 2.10%

Ultratech Cement 1,889.49 2.94%

J. Kumar Infraprojects 1,371.78 2.13%

Larsen & Toubro 1,343.44 2.09%

ITC 2,934.00 4.57%

Glaxosmithkline Consumer Healthcare 755.31 1.18%

Bajaj Finance 1,653.39 2.57%

HDFC 1,340.40 2.09%

Shriram Transport Finance Co. 891.40 1.39%

Coal India 2,414.78 3.76%

UPL 1,473.18 2.29%

Reliance Industries 2,654.90 4.13%

Hindustan Petroleum Corporation 1,152.06 1.79%

Glenmark Pharmaceuticals 2,276.78 3.54%

Cadila Healthcare 1,320.80 2.06%

Dr. Reddy's Laboratories 1,222.83 1.90%

Aditya Birla Nuvo 1,649.78 2.57%

Infosys 4,038.94 6.29%

HCL Technologies 2,994.75 4.66%

Tata Consultancy Services 2,510.75 3.91%

Tech Mahindra 663.38 1.03%

Adani Ports & Special Economic Zone 1,625.00 2.53%

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 - Dividend

19-Nov-10 2.00000 2.00000 29.3244

22-Feb-13 2.50000 2.50000 26.1962

27-Jun-14 2.50000 2.50000 31.2065

HSBC Equity Fund - Dividend - Direct Plan

22-Feb-13 2.50000 2.50000 26.2505

27-Jun-14 2.50000 2.50000 31.5845

Date of Allotment

Benchmark

NAV (Growth)(as on 31.07.15)

Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

10-Dec-02

S&P BSE 200

154.1591

Neelotpal Sahai

Available

10,000

1,000 p.m.(SIP)

Nil

0.96%

0.9468

1.0279

0.0297

`

`

`

Investors understand that their principalwill be at Moderately High risk

Riskometer

Mod

erately Moderate

Low

High

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

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

Total Expense Ratio as on , 2015


Portfolio Turnover

July 31

Regular 2.44%

Direct Plan 1.74%

Regular 2.45%

Direct Plan 1.75%

0.46


Excludes service tax on Investment Management fees of 0.14%on Regular Plan and 0.15% on Direct Plan of Total NetAssets.

Asset Allocation

Auto 6.18%AutoAncillaries 3.41%Banks 22.89%Cement 2.39%Chemicals 2.10%Construction 5.07%Construction Project 2.55%Consumer Non Durables 5.47%Finance 3.26%Industrial Products 1.79%Media & Entertainment 1.24%Minerals/Mining 2.50%Pesticides 2.29%Petroleum Products 3.81%Pharmaceuticals 6.98%Software 13.40%Textile Products 4.56%Transportation 2.64%Other Equity Investments 4.34%Reverse Repos/CBLOs 3.62%Net CurrentAssets -0.49%Total NetAssets 100.00%



**Risk free rate:7.62% (364 days Treasury bill yield on ,2015).

July 31


FUND PORTFOLIO

Auto

Auto Ancillaries

Banks

Cement

Chemicals

Construction



Finance

Industrial Products

Media & Entertainment

Minerals/Mining

Pesticides

Petroleum Products

Pharmaceuticals

Software

Textile Products

Transportation

Other Equity Investments 2,282.59 4.34%

Cash Equivalents

CBLO 1,905.09 3.62%



Tata Motors 1,727.33 3.28%

Eicher Motors 1,525.70 2.90%

Apollo Tyres 1,012.75 1.92%

Motherson Sumi Systems 781.76 1.49%

HDFC Bank 3,334.95 6.34%

ICICI Bank 2,721.60 5.17%

Axis Bank 2,695.45 5.12%

Yes Bank 2,072.38 3.94%

Indusind Bank 1,222.13 2.32%

Ultratech Cement 629.83 1.20%

Ahluwalia Contracts (India) 625.23 1.19%

Vinati Organics 1,103.40 2.10%

Prestige Estates Project 715.00 1.36%

MBL Infrastructures 707.38 1.34%

IRB Infrastructure Developers 675.81 1.28%

KNR Constructions 574.15 1.09%

Larsen & Toubro 1,343.44 2.55%

ITC 2,119.00 4.03%

Hindustan Unilever 755.75 1.44%


Bajaj Finance 826.70 1.57%

Supreme Industries 940.28 1.79%

DB.corp 655.00 1.24%

Coal India 1,317.15 2.50%

UPL 1,205.33 2.29%

Reliance Industries 2,003.70 3.81%

Glenmark Pharmaceuticals 2,023.80 3.85%

Torrent Pharmaceuticals 1,081.24 2.05%

Aurobindo Pharma 569.93 1.08%

HCL Technologies 2,495.63 4.74%

Infosys 1,938.69 3.68%


Cyient 735.89 1.40%

Arvind 955.35 1.82%

Indian Terrain Fashions 724.63 1.38%

Welspun India 717.68 1.36%

Gateway Distriparks 740.50 1.41%

Gujarat Pipavav Port 648.18 1.23%

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC India Opportunities Fund - Dividend

HSBC India Opportunities Fund - Dividend Direct Plan

04-Feb-13 1.50000 1.50000 17.7319

27-Jun-14 1.50000 1.50000 23.2323

17-Mar-15 2.70000 2.70000 27.0820

04-Feb-13 1.50000 1.50000 17.7519

27-Jun-14 1.50000 1.50000 23.5020

17-Mar-15 1.50000 1.50000 27.5575

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


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

24-Feb-04

S&P BSE 500

66.5858

Neelotpal Sahai

Available

10,000

1,000 p.m.(SIP)

Nil

0.93%

0.9266

0.9961

0.0549

`

`

`


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


term• Invests in equity and equity

related securities acrossmarket capitalisations

HSBC India Opportunities Fund (HIOF)


HSBC Midcap Equity Fund (HMEF)

07

FUND DETAILS



Portfolio Turnover

July 31

Regular 2.49%

Direct Plan 1.79%

Regular 2.51%

Direct Plan 1.81%

0.44



Asset Allocation

Auto 1.99%AutoAncillaries 8.15%Banks 7.57%Cement 3.70%Chemicals 3.55%Construction 3.47%Consumer Non Durables 4.72%Finance 14.46%Industrial Capital Goods 5.03%Industrial Products 1.46%Media & Entertainment 1.77%Pesticides 6.21%Petroleum Products 6.55%Pharmaceuticals 4.20%Power 1.53%Software 1.47%Textile Products 7.01%Textiles - Synthetic 1.88%Transportation 5.87%Other Equity Investments 7.41%Reverse Repos/CBLOs 3.42%Net CurrentAssets -1.42%Total NetAssets 100.00%




July 31


FUND PORTFOLIO

Auto

Auto Ancillaries

Banks

Cement

Chemicals

Construction


Finance

Industrial Capital Goods

Industrial Products

Media & Entertainment

Pesticides

Petroleum Products

Pharmaceuticals

Power

Software

Textile Products

Textiles - Synthetic

Transportation

Vst Tillers Tractors 843.59 1.99%

Apollo Tyres 1,255.81 2.97%

Balkrishna Industries 620.53 1.47%

Ceat 594.91 1.41%

Sundram Fasteners 510.41 1.21%

Suprajit Engineering 463.19 1.09%

Yes Bank 1,442.37 3.41%

DCB Bank 1,289.14 3.05%

Jammu & Kashmir Bank 469.94 1.11%

Prism Cement 645.63 1.53%

Everest Industries 475.38 1.12%

Ahluwalia Contracts (India) 444.90 1.05%

Vinati Organics 1,501.80 3.55%


National Buildings Construction Corp 712.43 1.68%

CCL Products (India) 1,996.50 4.72%

Indiabulls Housing Finance 1,731.08 4.09%

Motilal Oswal Financial Services 1,548.37 3.66%

Dewan Housing Finance Corporation 1,545.13 3.65%

Cholamandalam Investment & Fin Co. 1,292.98 3.06%

BEML 1,069.42 2.53%

Sanghvi Movers 1,057.46 2.50%

Finolex Industries 617.48 1.46%

Jagran Prakashan 747.87 1.77%

UPL 1,692.81 4.00%

PI Industries 936.68 2.21%


Gulf Oil Lubricants 916.23 2.17%

Aurobindo Pharma 1,182.51 2.80%

Torrent Pharmaceuticals 591.08 1.40%

Kalpataru Power Transmission 646.46 1.53%

Sonata Software 621.56 1.47%

Welspun India 1,665.95 3.94%

Arvind 764.28 1.81%


Sarla Performance Fibers 795.59 1.88%

Gujarat Pipavav Port 1,010.68 2.39%

Adani Ports & Special Economic Zone 780.00 1.84%


Other Equity Investments 3,134.50 7.41%

Cash Equivalents

CBLO 1,448.41 3.42%


Total Net Assets as on 31-Jul-2015 42,305.16 100.00%

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Midcap Equity Fund - Dividend

24-Mar-08 0.75 0.75 13.3797

11-Dec-09 1.00 1.00 13.8927

19-Nov-10 2.00 2.00 15.4864

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

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

19-May-05

S&P BSE Midcap

41.8339

Dhiraj Sachdev

Available

10,000

1,000 p.m.(SIP)

Nil

1.07%

0.7499

0.9383

0.0459

`

`

`


Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately


term• Invests in predominantly mid

cap equity and equity relatedsecurities

HSBC Midcap Equity Fund (HMEF)


HSBC Progressive Themes Fund (HPTF)

08

FUND DETAILS

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

23-Feb-06

S&P BSE 200

19.9400

Dhiraj Sachdev

Available

10,000

1,000 p.m.(SIP)

Nil

1.31%

0.7364

1.2394

0.0163

`

`

`



Portfolio Turnover

July 31

Regular 2.61%

Direct Plan 1.91%

Regular 2.62%

Direct Plan 1.92%

0.14



Asset Allocation

AutoAncillaries 4.01%Banks 4.43%Cement 9.35%Construction 12.15%Construction Project 2.39%Ferrous Metals 1.55%Finance 4.41%Gas 1.76%Industrial Capital Goods 8.25%Industrial Products 8.28%Minerals/Mining 1.64%Oil 1.25%Petroleum Products 11.14%Power 7.07%Transportation 19.48%Other Equity Investments 1.52%Reverse Repos/CBLOs 2.08%Net CurrentAssets -0.76%Total NetAssets 100.00%




July 31


FUND PORTFOLIO

Auto Ancillaries

Banks

Cement

Construction


Ferrous Metals

Finance

Gas


Industrial Products

Minerals/Mining

Oil

Petroleum Products

Power

Transportation

Other Equity Investments 223.63 1.52%

Cash Equivalents

CBLO 307.05 2.08%



Apollo Tyres 591.45 4.01%


Karnataka Bank 232.49 1.58%

Everest Industries 706.02 4.79%

HIL 351.23 2.38%

Ahluwalia Contracts (india) 321.22 2.18%

National Buildings Construction Corp 876.99 5.94%


KNR Constructions 228.90 1.55%

Larsen & Toubro 179.13 1.21%

Gammon Infrastructure Projects 174.26 1.18%

Jindal SAW 229.05 1.55%

Rural Electrification Corporation 650.40 4.41%

Gujarat State Petronet 259.40 1.76%

BEML 939.63 6.37%

Sanghvi Movers 277.35 1.88%

FAG Bearings India 1,220.79 8.28%

Gujarat Mineral Development Corporation 241.97 1.64%

Aban Offshore 184.75 1.25%


Indian Oil Corporation 289.87 1.96%

Power Grid Corporation Of India 390.50 2.65%

Reliance Infrastructure 263.27 1.78%

PTC India 221.57 1.50%

JSW Energy 168.60 1.14%

Gujarat Pipavav Port 1,166.72 7.91%



IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Progressive Themes Dividend

11-May-07 1.00 1.00 12.2390

26-May-08 1.00 1.00 13.7160

An Open Ended Flexi-Theme 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



related securities, primarily inthemes that play an importantrole in India's economicdevelopment

HSBC Progressive Themes Fund (HPTF)


HSBC Tax Saver Equity Fund (HTSF)

09

FUND DETAILS

Date of Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

05-Jan-07

S&P BSE 200

27.8531

Aditya Khemani

Available

500

(Lumpsum & SIP)

Nil

0.90%

0.8804

0.9262

0.0578

`

`



Portfolio Turnover

July 31

Regular 2.58%

Direct Plan 1.88%

Regular 2.58%

Direct Plan 1.88%

0.48



Asset Allocation

Auto 6.41%


Banks 25.08%

Cement 4.03%



Finance 5.32%

Industrial Capital Goods 2.23%

Industrial Products 3.08%


Oil 1.69%

Pesticides 1.26%



Services 2.25%

Software 11.53%

Textile Products 7.40%








July 31


FUND PORTFOLIO

Auto

Auto Ancillaries

Banks

Cement



Finance


Industrial Products

Minerals/Mining

Oil

Pesticides

Petroleum Products

Pharmaceuticals

Services

Software

Textile Products

Transportation

Maruti Suzuki India 876.38 4.59%

Tata Motors 346.45 1.82%

MRF 428.00 2.24%

Amara Raja Batteries 419.46 2.20%



HDFC Bank 1,067.18 5.59%

Axis Bank 937.67 4.92%

ICICI Bank 902.66 4.73%

Indusind Bank 684.39 3.59%

Federal Bank 441.81 2.32%


State Bank Of India 337.56 1.77%

The Ramco Cements 395.94 2.08%



ITC 541.48 2.84%

LIC Housing Finance 451.42 2.37%

HDFC 294.89 1.55%


Crompton Greaves 426.18 2.23%



Coal India 329.29 1.73%

Oil & Natural Gas Corporation 321.79 1.69%

UPL 241.07 1.26%

Reliance Industries 265.49 1.39%

Dr. Reddy's Laboratories 448.37 2.35%

IPCA Laboratories 431.95 2.26%

Glenmark Pharmaceuticals 404.76 2.12%

Sun Pharmaceutical Industries 312.51 1.64%

Aditya Birla Nuvo 428.94 2.25%


Infosys 784.09 4.11%

HCL Technologies 399.30 2.09%

Arvind 579.58 3.04%






Cash Equivalents

CBLO 149.52 0.78%



IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC Tax Saver Equity Fund Dividend

HSBC Tax Saver Equity Fund Dividend Direct

19-Feb-10 1.00000 1.00000 12.8713

17-Oct-14 1.50000 1.50000 22.1053

17-Mar-15 2.50000 2.50000 23.9029

17-Oct-14 1.50000 1.50000 22.4083

17-Mar-15 2.50000 2.50000 24.3256

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



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

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

24-Sep-07

S&P BSE 200

14.1073

Neelotpal Sahai

(for Equity portion)

Sanjay Shah

(for Fixed Income portion)

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

0.78%

0.9327

0.8261

0.0248



Portfolio Turnover

July 31

Regular 2.69%

Direct Plan 1.99%


Regular 2.69%

Direct Plan 1.99%

0.73


Asset Allocation

Auto 5.92%AutoAncillaries 1.44%Banks 18.05%Cement 2.00%Construction Project 3.71%Consumer Non Durables 6.25%Finance 3.20%Minerals/Mining 1.96%Pesticides 2.13%Petroleum Products 4.30%Pharmaceuticals 5.84%Power 2.08%Software 8.79%Telecom - Services 1.87%Transportation 2.84%Other Equity Investments 1.84%Reverse Repos/CBLOs 28.35%Net CurrentAssets -0.57%Total NetAssets 100.00%




July 31

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

Auto Ancillaries

Banks

Cement



Finance

Minerals/Mining

Pesticides

Petroleum Products

Pharmaceuticals

Power

Software

Telecom - Services

Transportation




HDFC Bank 455.78 7.25%

ICICI Bank 275.18 4.38%

Axis Bank 229.40 3.65%

Yes Bank 174.08 2.77%



ITC 286.88 4.56%


HDFC 201.06 3.20%

Coal India 122.93 1.96%

UPL 133.93 2.13%




Power Grid Corporation Of India 130.64 2.08%

Infosys 323.12 5.14%

HCL Technologies 229.60 3.65%

Bharti Airtel 117.26 1.87%



Cash Equivalents

CBLO 1,781.65 28.35%


Total Net Assets As On 31-Jul-2015 6,284.93 100.00%Investors understand that their principalwill be at Moderately High risk

Riskometer

Mod

erately Moderate

Low

Hig

h

Low

High

LOW HIGH

Moderately



related securities and in debtinstruments when view onequity markets is negative

HSBC Dynamic Fund (HDF)


HSBC Dividend Yield Equity Fund (HDYEF)

11

FUND DETAILS

Date of Allotment

Benchmark


Fund Managers

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

21-Mar-07

S&P BSE 200

16.5934

Gaurav Mehrotra &

Amaresh Mishra

Available

10,000

1,000 p.m.(SIP)

Nil

0.87%

0.9220

0.9204

0.0329

`

`

`



Portfolio Turnover

July 31

Regular 2.34%

Direct Plan 1.64%

Regular 2.34%

Direct Plan 1.64%

0.24



Asset Allocation

Auto 6.35%


Banks 20.52%

Cement 1.52%

Chemicals 1.59%

Construction 2.12%



Finance 4.77%

Industrial Products 1.55%


Non - Ferrous Metals 2.38%

Oil 2.74%



Power 2.78%

Software 17.47%


Other Equity Investments 0.66%







July 31

FUND PORTFOLIO

IssuerMarket Value

( in Lacs)`

% to NetAssets

An Open Ended Equity Scheme

Investment Objective: To provide long-term capital growth from a diversified portfolio of equity and equity related

instruments. The focus would be to invest in stocks of companies facing "out-of-ordinary" conditions.

Auto

Auto Ancillaries

Banks

Cement

Chemicals

Construction



Finance

Industrial Products

Minerals/Mining

Non - Ferrous Metals

Oil

Petroleum Products

Pharmaceuticals

Power

Software

Transportation

Hero Motocorp 135.48 2.93%



MRF 125.78 2.72%


ICICI Bank 357.13 7.73%

Axis Bank 200.73 4.34%

Karur Vysya Bank 159.32 3.45%

HDFC Bank 155.63 3.37%


ACC 70.06 1.52%

Tata Chemicals 73.50 1.59%



ITC 251.39 5.44%


Indiabulls Housing Finance 118.11 2.56%

IDFC 101.93 2.21%


Coal India 289.77 6.27%

Hindustan Zinc 110.09 2.38%

Oil & Natural Gas Corporation 126.81 2.74%

Bharat Petroleum Corporation 129.75 2.81%


Lupin 92.06 1.99%


NTPC 128.30 2.78%

Infosys 379.77 8.22%

Tata Consultancy Services 213.41 4.62%

Wipro 124.80 2.70%

Eclerx Services 89.10 1.93%



Cash Equivalents

CBLO 96.59 2.09%




Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately



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)

12

FUND DETAILS



July 31

Regular 2.69%

Direct Plan 1.99%

(inclusive of underlying scheme's expenses)



Regular 2.69%

Direct Plan 1.99%


Asset Allocation

Overseas Mutual Fund 98.38%







July 31


FUND PORTFOLIO

Overseas Mutual Fund

Cash Equivalents

CBLO 23.02 2.35%


HSBC GIF Glob Emerg Mkts Eq S1 Dis 965.35 98.38%

Total Net Assets as on 31-Jul-2015 981.25 100.00%

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


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

17-Mar-08

MSCI EmergingMarkets Index

10.6740

Anitha Rangan(Dedicated fund

manager foroverseas

investments)

Available

10,000

1,000 p.m.(SIP)

Nil

0.71%

0.5100

0.9310

-0.0290

`

`

` Dividend DeclarationRecord Date / periodof dividend declared




`

HSBC - Emerging Market Fund - Dividend

HSBC - Emerging Market Fund - Dividend - Direct Plan

27-Jun-14 0.50000 0.50000 11.5335

27-Jun-14 0.50000 0.50000 11.6656


Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately


term• Investment in equity and

equity related securities ofEmerging economies

HSBC Emerging Markets Fund (HEMF)


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

13

FUND DETAILS



July 31

Regular 2.29%

Direct Plan 1.59%


Regular 2.29%

Direct Plan 1.59%




Asset Allocation



Net CurrentAssets 1.24%





July 31

FUND PORTFOLIO


Cash Equivalents

CBLO 68.63 2.65%

Net Current Assets 32.07 1.24%

HSBC GIF Asia Pacific Ex Japan Eq HD-S9D 2,490.62 96.11%


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 Allotment

Benchmark


Fund Manager

SIP

Minimum

Application Amount

Exit Load

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

24-Feb-14

MSCI AC Asia Pacific

ex Japan

10.3576

Anitha Rangan (foroverseas investments),

Sanjay Shah (forinvestments in Indian

Market)

Available

10,000

1,000 p.m.(SIP)

Nil

0.55%

0.6480

0.7240

-0.0340

`

`

`


RiskometerRiskometer

Mod

erately

Mod

erately ModerateModerate

Low

Low

High

High

Low

Low

HighHigh

LOWLOW HIGHHIGH

Moderately

Moderately


term• Investment in equity and equity

related securities of Asia Pacificcountries (excluding Japan)through fund of funds route

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


HSBC Brazil Fund (HBF)

14

FUND DETAILS



July 31

Regular 2.69%

Direct Plan 1.99%




Regular 2.69%

Direct Plan 1.99%

Excludes service tax on Investment Management fees of 0.12%.of Total NetAssets.

Asset Allocation








July 31

FUND PORTFOLIO


Cash Equivalents

CBLO 104.49 3.32%


HSBC GIF Brazil Equity S3D 3,081.95 97.88%


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

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

06-May-11

MSCI Brazil 10/40 Index

5.5883

Anitha Rangan(Dedicated fund

manager for overseasinvestments)

Available

10,000

1,000 p.m.(SIP)

Nil

1.51%

0.4540

0.7310

-0.0390

`

`

`


Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately



related securities throughfeeder route in Brazilianmarkets

HSBC Brazil Fund (HBF)


HSBC Managed Solutions India - Growth (HMSG)

15

FUND DETAILS



July 31

Regular 2.27%

Direct Plan 2.00%


Regular 2.29%

Direct Plan 2.02%


Excludes service tax on Investment Management fees of 0.00%of Total Net Assets and of 0.19% on the underlying scheme's inwhich the fund of fund invests.


Asset Allocation

Mutual Fund 98.06%







July 31

FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 472.06 3.51%


HSBC Equity Fund - Growth Direct 7,246.80 53.83%

HSBC Midcap Equity Fund - Growth Direct 2,426.41 18.02%

HSBC Income Fund Short Term - Growth Direct 1,759.64 13.07%

HSBC Income Fund Inv Plan Growth Direct 1,341.71 9.97%

HSBC Flexi Debt Fund Growth Direct 426.62 3.17%


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

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

30-Apr-14

Composite Index constituting80% of S&P BSE 200 Index

and 20% of CRISILBond Index

13.2761

Anitha Rangan (DedicatedFund Manager for investments

in foreign securities)

Gaurav Mehrotra (Formanaging 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

0.75%

0.9376

0.8068

0.0382

Composite

`

`

`


Riskometer

M

oderately Moderate

Low

High

LowHigh

LOW HIGH

Moderately

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

of 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)

16

FUND DETAILS



July 31

Regular 2.07%

Direct Plan 1.82%


Regular 2.11%

Direct Plan 1.84%




Asset Allocation

Mutual Fund 97.86%







July 31

FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 843.83 3.35%




HSBC Flexi Debt Fund Growth Direct 4,250.79 16.88%




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

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

30-Apr-14

CRISIL Balanced Fund Index

12.6704







Available

5,000

1,000 p.m.(SIP)

Nil

0.53%

0.6830

0.6438

0.0443

`

`

`


Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• To create wealth and provide

income over the long term• Investments in a basket of debt

mutual funds, equity mutualfunds, gold & exchange tradedfunds, offshore mutual fundsand money market instruments.

HSBC Managed Solutions India - Moderate


HSBC Managed Solutions India - Conservative (HMSC)

17

FUND DETAILS



July 31

Regular 1.65%

Direct Plan 1.40%


Regular 1.64%

Direct Plan 1.40%



Excludes service tax on Investment Management fees of 0.00%of Total Net Assets and of 0.08% on Regular Plan and 0.09% onDirect Plan on the underlying scheme's in which the fund of fundinvests.

Asset Allocation

Mutual Fund 98.84%







July 31

FUND PORTFOLIO

Mutual Fund

Cash Equivalents

CBLO 506.54 1.59%



HSBC Flexi Debt Fund Growth Direct 10,417.68 32.73%




HDFC Income Fund Direct Plan - Growth 1,102.95 3.47%


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

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

30-Apr-14

Composite Index constitutingof 90% into CRISIL Composite

Bond Index and 10% of S&PBSE 200 Index

11.6762







Available

5,000

1,000 p.m.(SIP)

Nil

0.21%

0.7718

0.2008

0.0617

`

`

`

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

High

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



July 31

Regular 2.34%

Direct Plan 1.64%


Regular 2.34%

Direct Plan 1.64%




Asset Allocation








July 31

FUND PORTFOLIO


Cash Equivalents

CBLO 48.30 2.51%


HSBC GIF - China Consumer Opp S5 Cap 1,887.98 98.24%


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

Standard Deviation

R-Squared

Beta (Slope)

Sharpe Ratio**

per unit

@

Statistical Ratios

23-Feb-15

MSCI AC World Index

10.0809

Anitha Rangan (DedicatedFund Manager) & Sanjay Shah

(for investments in IndianMarket)

Available

1,000 p.m.(SIP)

Nil

0.64%

0.3480

0.6790

-0.0690

`

`

`

5,000


Riskometer

M

oderately Moderate

Low

High

LowHigh

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 Progressive Themes 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

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)

Gaurav Mehrotra and Amaresh Mishra (from 02 July 2012)

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

Anitha Rangan (from 18 October 2014)

Anitha Rangan (from 18 October 2014)

For overseas investments: Anitha Rangan (from 18 October 2014) &For investment in Indian markets: Sanjay Shah (from 24 February 2014)

For overseas investment : Anitha Rangan (from 18 October 2014),For Investments in Indian Market - Equity Portion : Gaurav Mehrotra (April 2014)& For Investments in Indian Market - Debt Portion : Sanjay Shah (April 2014)

Name of Scheme Fund Manager

Fund Manager’s Experience

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

Experience:

Over 18 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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�

�

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Gaurav Mehrotra

Vice President & Assistant Fund Manager

Post Graduate Diploma in Business Management, Bachelor of Engineering

Over 9 years experience in research.

HSBC Asset Management (India) Private LtdVice President & Assistant Fund Manager, from April 2012 to present,Associate Vice President, Investment Management from September 2007 to March 2012

JPMorgan Services India Private LtdEquity Research from August 2005 to September 2007

Tata Consultancy Services LtdBusiness Analyst from June 2004 to July 2005

Experience:

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�

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20

Neelotpal Sahai

Senior Fund Manager - Equities

B.Tech, PGDM (IIM Kolkata)

Over 21 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:

�

�

�

�

�

�

�

Aditya Khemani

Vice President & Fund Manager - Equities

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

Over 9 years experience in research.

HSBC Asset Management (India) Private Ltd

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

SBI Funds Management India Private Ltd

Senior Manager - Equity Research from March 2007 to September 2007

Prudential ICICI Asset Management Company India Private Ltd

Assistant Manager - Equity Research from December 2005 to February 2007

Morgan Stanley Advantage Services India Private Ltd

Research Associate from May 2005 to November 2005

Experience:

�

�

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Amaresh Mishra

Vice President & Assistant Fund Manager

Post Graduate Diploma in Business Manager Management

Bachelor of Engineering (Chemical)

Over 9 years of experience in Equities & Sales


Vice 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 Environment

Trainee Researcher from July 2001 to July 2002

Experience:

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�

Anitha Rangan

Associate Vice President - Investment Management

PGDBM (SPJIMR, Mumbai); CA; M.Com

Over 8 years of experience in areas of research and risk


Associate Vice President - Investment Management, from February 2013 onwards

CRISIL Limited

Senior Manager - Customised Industry Research, from December 2010 to May 2012

Nomura Structured Financial Services

Vice President - Credit Research , from December 2008 to November 2010

Lehman Brothers Structured Financial Services Analyst

Credit Research, from June 2006 to November 2008

Ambattur Clothing Limited

Executive - October 2002 to March 2004

Experience:

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Funds Managed by Neelotpal Sahai.

HSBC Equity Fund Date of Inception : 10 Dec 02

Scheme Name & Benchmarks July 14 -June 15

July 13 -June 14

July 12 -June 13

SinceInception

HSBC Equity Fund - Growth

S&P BSE 200 (Scheme Benchmark)

CNX Nifty (Standard Benchmark)

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

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

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

`

`

`

6.72% 37.45% 6.20% 24.05%

11.53% 32.58% 8.52% 19.21%

9.61% 29.03% 10.70% 17.85%

10,672 13,745 10,620 1,50,695

11,153 13,258 10,852 91,339

10,961 12,903 11,070 79,028

` ` ` `

` ` ` `

` ` ` `


HSBC Dynamic Fund

Date of Inception : 24 Feb 04

Date of Inception : 24 Sep 07

Scheme Name & Benchmarks


July 14 -June 15

July 14 -June 15

July 13 -June 14

July 13 -June 14

July 12 -June 13

July 12 -June 13

SinceInception

SinceInception

HSBC India Opportunities Fund - Growth



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



`

`

`

HSBC Dynamic Fund - Growth



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



`

`

`

18.28% 53.83% 3.10% 17.94%

10.85% 34.74% 6.98% 14.89%

9.61% 29.03% 10.70% 14.37%

11,828 15,383 10,310 65,157

11,085 13,474 10,698 48,378

10,961 12,903 11,070 45,964

` ` ` `

` ` ` `

` ` ` `

10.88% 26.17% 2.87% 4.42%

11.53% 32.58% 8.52% 6.99%

9.61% 29.03% 10.70% 7.04%

11,088 12,617 10,287 13,997

11,153 13,258 10,852 16,902

10,961 12,903 11,070 16,970

` ` ` `

` ` ` `

` ` ` `

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


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


Data for the period July to June has been considered in all cases, except for ‘Since Inception’ returns. ‘Since Inception’ (%) returns are compounded annualised, other % returnsare absolute. ‘Since inception’ returns are calculated on 10 invested at inception. Standard benchmark is prescribed by SEBI for long-term equity schemes and is used forcomparison purposes. Returns on 10,000 are point-to-point returns for the specific time period, invested at the start of the period. The returns provided above have been

rounded off and hence there may be minor differences between point-to-point returns vis-a-vis returns indicated above

`

`

.


Funds Managed by - Anitha Rangan.

HSBC Emerging Markets Fund Date of Inception : 17 Mar 08


July 13 -June 14

July 12 -June 13

SinceInception

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


`

`

`

-1.32% 16.73% 3.36% 1.99%

3.48% 11.27% 3.28% 2.07%

9.61% 29.03% 10.70% 8.87%

9,868 11,673 10,336 11,543

10,348 11,127 10,328 11,609

10,961 12,903 11,070 18,588

` ` ` `

` ` ` `

` ` ` `


21

HSBC Brazil Fund

HSBC Asia Pacific (Ex Japan) DividendYield Fund

Date Of Inception : 06 May 11




July 14 -June 15

July 14 - June 15

July 13 -June 14

July 12 -June 13

SinceInception

Since Inception

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


`

`

`

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


`

`

`

-31.31% 9.03% -6.06% -10.14%

-29.63% 10.99% -14.18% -15.60%

9.61% 29.03% 10.70% 10.39%

6,869 10,903 9,394 6,413

7,037 11,099 8,582 4,941

10,961 12,903 11,070 15,079

` ` ` `

` ` ` `

` ` ` `

2.08% 5.52%

-3.60% 2.86%

9.61% 25.19%

10,208 10,752

9,640 10,387

10,961 13,536

` `

` `

` `

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


Data for the period July to June has been considered in all cases, except for ‘Since Inception’ returns. ‘Since Inception’ (%) returns arecompounded annualised, other % returns are absolute. ‘Since inception’ returns are calculated on 10 invested at inception. Standardbenchmark is prescribed by SEBI for long-term equity schemes and is used for comparison purposes. Returns on 10,000 are point-to-pointreturns for the specific time period, invested at the start of the period. The returns provided above have been rounded off and hence theremay be minor differences between point-to-point returns vis-a-vis returns indicated above.

`

`


Fund Managed by Gaurav Mehrotra and Amaresh Mishra.

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


July 13 -June 14

July 12 -June 13

SinceInception

HSBC Dividend Yield Equity Fund - Growth



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



`

`

`

10.39% 38.08% 3.00% 6.05%

11.53% 32.58% 8.52% 10.42%

9.61% 29.03% 10.70% 10.13%

11,039 13,808 10,300 16,272

11,153 13,258 10,852 22,739

10,961 12,903 11,070 22,236

` ` ` `

` ` ` `

` ` ` `


22

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


July 13 -June 14

July 12 -June 13

SinceInception

HSBC Tax Saver Equity Fund - Growth



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



`

`

`

14.17% 44.72% 12.40% 12.22%

11.53% 32.58% 8.52% 9.16%

9.61% 29.03% 10.70% 9.14%

11,417 14,472 11,240 26,613

11,153 13,258 10,852 21,043

10,961 12,903 11,070 21,014

` ` ` `

` ` ` `

` ` ` `

Fund Managed by - Aditya Khemani.


* 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 are different 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 for both this index and thescheme have been calculated from this date onwards.


Funds Managed by - Dhiraj Sachdev.

HSBC Progressive Themes Fund Date of Inception : 23 Feb 06


July 13 -June 14

July 12 -June 13

SinceInception

HSBC Progressive Themes Fund - Growth



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



`

`

`

16.39% 67.89% -13.86% 6.55%

11.53% 32.58% 8.52% 11.36%

9.61% 29.03% 10.70% 11.35%

11,639 16,789 8,614 18,102

11,153 13,258 10,852 27,359

10,961 12,903 11,070 27,337

` ` ` `

` ` ` `

` ` ` `

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


July 13 -June 14

July 12 -June 13

SinceInception

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


`

`

`

23.38% 97.40% -15.11% 10.53%

21.54% 54.45% -3.97% 14.99%

9.61% 29.03% 10.70% 12.89%

12,338 19,740 8,489 26,668

12,154 15,445 9,603 39,260

10,961 12,903 11,070 32,798

` ` ` `

` ` ` `

` ` ` `



23

Data for the period July to June has been considered in all cases, except for ‘Since Inception’ returns. ‘Since Inception’ (%) returns arecompounded annualised, other % returns are absolute. ‘Since inception’ returns are calculated on 10 invested at inception. Standardbenchmark is prescribed by SEBI for long-term equity schemes 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 hencethere may be minor differences between point-to-point returns vis-a-vis returns indicated above.

`

`

HSBC Managed Solutions - Growth

HSBC Managed Solutions - Moderate - Growth

HSBC Managed Solutions - Conservative - Growth

Date of Inception : 30 Apr 14






July 14 -June 15

July 14 -June 15

July 14 -June 15

SinceInception

SinceInception

SinceInception

HSBC Managed Solutions - Growth - Growth

Customised Benchmark Index Fund (Scheme Benchmark)*


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

`

`

`

`

HSBC Managed Solutions - Moderate - Growth

Crisil Balanced Fund Index (Scheme Benchmark)



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

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



`

`

`

`

HSBC Managed Solutions - Conservative - Growth




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




`

`

`

`

10.93 23.51

11.44 22.69

9.61 21.04

11.70 11.82

11,093 12,802

11,144 12,703

10,961 12,504

11,170 11,396

% %

% %

% %

% %

` `

` `

` `

` `

10.83 19.55

10.35 18.05

9.61 21.04

11.70 11.82

11,083 12,324

11,035 12,143

10,961 12,504

11,170 11,396

% %

% %

% %

% %

` `

` `

` `

` `

9.89% 12.64

11.12 13.35

9.61 21.04

11.70 11.82

10,989 11,494

11,112 11,579

10,961 12,504

11,170 11,396

%

% %

% %

% %

` `

` `

` `

` `

Fund Managed by Gaurav Mehrotra (for Equity portion)Sanjay Shah (for Fixed Income portion), Anitha Rangan (For overseas investment)




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

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


24

Data for the period July to June has been considered in all cases, except for ‘Since Inception’ returns. ‘Since Inception’ (%) returns arecompounded annualised, other % returns are absolute. ‘Since inception’ returns are calculated on 10 invested at inception. Standardbenchmark is prescribed by SEBI for long-term equity schemes 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 hencethere may be minor differences between point-to-point returns vis-a-vis returns indicated above.

`

`

HSBC MIP - Savings Plan (HMIP-S)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.

25

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on 31.07.15)

Average Maturity ofPortfolio

Modified Duration

of PortfolioFund Managers

SIPMinimum ApplicationAmountGrowthQuarterly DividendMonthly DividendSIP

per unit



Regular 2.31%

Direct Plan 1.81%

Regular 2.30%

Direct Plan 1.81%



Asset Allocation

Government Securities 42.94%

Equity 24.30%

Corporate/ PSU Debt 18.25%

Cash Equivalents 7.34%

Money Market Instruments 6.75%




FUND PORTFOLIO

Money Market Instruments

Corporate/ PSU Debt

EQUITY

Government Securities

Cash EquivalentsCBLO 1,579.37 7.34%Net Current Assets 97.60 0.42%Total Net Assets as on 31-Jul-2015 21,510.13 100.00%

Certificate of Deposit

Corporate Bonds / Debentures

Equities

Canara Bank 955.51 4.44% CRISIL A1+Vijaya Bank 497.36 2.31% CARE A1+

Rural Electrification Corporation 1,043.30 4.85% CARE AAAPower Finance Corporation 995.69 4.63% CRISIL AAAPower Grid Corporation of India 609.30 2.83% CRISIL AAAPower Finance Corporation 509.05 2.37% CRISIL AAALIC Housing Finance 506.86 2.36% CRISIL AAASmall Industries Development Bk of India 140.79 0.65% CARE AAAPower Finance Corporation 120.21 0.56% CRISIL AAA

Tata Consultancy Services 256.10 1.19%Axis Bank 254.06 1.18%HDFC Bank 242.34 1.13%Maruti Suzuki India 240.40 1.12%ICICI Bank 233.60 1.09%Larsen & Toubro 223.91 1.04%IndusInd Bank 200.43 0.93%LIC Housing Finance 189.70 0.88%Amara Raja Batteries 181.81 0.85%Crompton Greaves 178.19 0.83%Gateway Distriparks 177.72 0.83%Supreme Industries 176.80 0.82%ITC 171.15 0.80%Ultratech Cement 166.90 0.78%The Ramco Cements 159.64 0.74% N.AApollo Tyres 127.61 0.59%The Federal Bank 127.37 0.59%IPCA Laboratories 126.46 0.59%Glenmark Pharmaceuticals 121.43 0.56%Aditya Birla Nuvo 119.58 0.56%HDFC 113.93 0.53%Adani Ports & Special Economic Zone 113.75 0.53%Motherson Sumi Systems 113.47 0.53%Arvind 111.46 0.52%Shriram Transport Finance Company 111.43 0.52%Tech Mahindra 106.14 0.49%Welspun India 105.66 0.49%Tata Motors 103.64 0.48%State Bank of India 97.22 0.45%Karur Vysya Bank 89.27 0.42%Sun Pharmaceuticals Industries 86.35 0.40%MRF 81.68 0.38%Oil & Natural Gas Corp 74.99 0.35%Finolex Industries 71.68 0.33%The Jammu & Kashmir Bank 62.52 0.29%Dr. Reddy's Laboratories 57.07 0.27%Hindustan Dorr-Oliver 46.35 0.22%

8.60% GOVT OF INDIA RED 02-06-2028 1,607.65 7.47% SOVEREIGN8.40% GOVT OF INDIA RED 28-07-2024 1,550.54 7.21% SOVEREIGN7.95% GOVT OF INDIA RED 28-08-2032 1,470.44 6.84% SOVEREIGN7.88% GOVT OF INDIA RED 19-03-2030 1,374.19 6.39% SOVEREIGN8.24% GOVT OF INDIA RED 10-11-2033 1,217.71 5.66% SOVEREIGN7.72% GOVT OF INDIA RED 25-05-2025 562.60 2.62% SOVEREIGN8.17% GOVT OF INDIA RED 01-12-2044 498.04 2.32% SOVEREIGN7.16% GOVT OF INDIA RED 20-05-2023 403.31 1.87% SOVEREIGN8.29% TAMIL NADU SDL RED 29-07-2025 283.16 1.32% SOVEREIGN7.68% GOVT OF INDIA RED 15-12-2023 265.65 1.24% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC MIP - Savings Plan - Monthly Dividend

HSBC MIP - Savings Plan - Monthly Dividend - Direct Plan

HSBC MIP - Savings Plan - Quarterly Dividend

HSBC MIP - Savings Plan - Quarterly Dividend - Direct Plan

25-May-15 0.06500 0.06022 13.6314

25-Jun-15 0.06862 0.06357 13.5358

25-May-15 0.06500 0.06022 14.4911

25-Jun-15 0.06862 0.06357 14.4014

26-Dec-14 0.16332 0.15146 13.7829

25-Mar-15 0.20324 0.18848 13.9286

26-Dec-14 0.16332 0.15146 14.3797

25-Mar-15 0.21050 0.19521 14.5619

27-Jul-15 0.06862 0.06357 13.5375

27-Jul-15 0.06862 0.06357 14.4150

25-Jun-15 0.20946 0.19406 13.6268

25-Jun-15 0.20946 0.19406 14.2677

Rating24-Feb-04

CRISIL MIP Blended Index

29.4721

9.63 years

5.56 years

Aditya Khemani(for Equity portion) Sanjay

Shah (for Debt portion)

Available

10,00010,00025,000

1,000 p.m.Nil

`

`

`

`

`

Rating Profile

Sovereign 42.94%

AAAand equivalents 25.00%

Equity 24.30%

Reverse Repos/ CBLOs 7.34%





Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately

HSBC MIP - Savings Plan (HMIP-S)

This product is suitable forinvestors who are seeking*:• Regular Income over medium

term• 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.

HSBC MIP - Regular Plan (HMIP-R)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.

26

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on 31.07.15)


Modified Duration

of Portfolio

Fund Managers

SIP

Minimum ApplicationAmount

Growth

Quarterly Dividend

Monthly Dividend

SIP

Exit Load

per unit

@



Regular 2.29%

Direct Plan 1.79%

Regular 2.28%

Direct Plan 1.79%



Asset Allocation



Equity 15.22%






FUND PORTFOLIO


Corporate/ PSU Debt

EQUITY


Cash Equivalents

CBLO 863.69 8.79%





Equities

Canara Bank 477.76 4.86% CRISIL A1+

Power Finance Corporation 509.05 5.18% CRISIL AAA

LIC Housing Finance 506.86 5.16% CRISIL AAA


Rural Electrification Corporation 447.13 4.55% CARE AAA

Power Grid Corporation of India 406.20 4.14% CRISIL AAA

Tata Consultancy Services 77.83 0.79%

Axis Bank 77.42 0.79%


HDFC Bank 70.03 0.71%

ICICI Bank 69.70 0.71%


LIC Housing Finance 59.90 0.61%


ITC 52.16 0.53%

Dr. Reddy's Laboratories 48.91 0.50%


Arvind 47.77 0.49%



IPCA Laboratories 45.31 0.46% N.A


The Federal Bank 40.65 0.41%

Aditya Birla Nuvo 38.80 0.40%


Crompton Greaves 36.74 0.37%



HDFC 33.51 0.34%

Tech Mahindra 32.90 0.33%


Shriram Transport Finance Company 31.20 0.32%


MRF 30.63 0.31%

State Bank of India 29.71 0.30%

The Jammu & Kashmir Bank 29.18 0.30%

Sun Pharmaceuticals Industries 26.32 0.27%

Oil & Natural Gas Corp 23.18 0.24%


Hindustan Dorr-Oliver 13.91 0.14%

7.88% GOVT OF INDIA RED 19-03-2030 833.45 8.48% SOVEREIGN









8.29% TAMIL NADU SDL RED 29-07-2025 70.79 0.72% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets





`

HSBC MIP - Regular Plan - Monthly Dividend

HSBC MIP - Regular Plan - Monthly Dividend - Direct Plan

HSBC MIP - Regular Plan - Quarterly Dividend

25-May-15 0.05778 0.05353 11.9160

25-Jun-15 0.05778 0.05353 11.8073

26-Dec-14 0.16332 0.15146 12.3312

25-Mar-15 0.18147 0.16829 12.4116

27-Jul-15 0.05778 0.05353 11.8130

31-Jan-14 0.05065 0.04851 10.9791

28-Feb-14 0.05065 0.04851 11.0079

25-Jun-15 0.18057 0.16729 12.1560

Rating24-Feb-04

CRISIL MIP Blended Index

24.6649

10.10 years

5.63 years

Aditya Khemani

(for Equity portion) SanjayShah (for Debt portion)

Available

10,000

10,000

25,000

1,000 p.m.

Nil

`

`

`

`

`

Rating Profile

Sovereign 46.09%


Equity 15.22%




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


Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• Regular Income over medium

term• Investment in fixed income

(debt and money marketinstruments) as well as equityand equity related securities

HSBC MIP - Regular Plan (HMIP-R)


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.

27

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit

@



Regular 1.85%

Direct Plan 1.10%

Regular 1.85%

Direct Plan 1.10%



Asset Allocation





Securitised Debt 0.09%


* Based on invested Amount

FUND PORTFOLIO

Securitised Debt

Corporate/ PSU Debt


Cash Equivalents

CBLO 1,110.72 10.42%



Investments - Asset Back Security


India MBS 2002 Series I 9.61 0.09% CRISIL AAA (SO)

Export Import Bank of India 539.35 5.06% CRISIL AAA


Rural Electrification Corporation 496.81 4.66% CARE AAA

NABARD 99.48 0.93% CRISIL AAA

8.60% GOVT OF INDIA RED 02-06-2028 1,144.83 10.74% SOVEREIGN










8.29% TAMIL NADU SDL RED 29-07-2025 212.37 1.99% SOVEREIGN


IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating10-Dec-02

CRISIL Composite BondFund Index

23.8797

11.00 years

6.38 years

8.00%

Sanjay Shah

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

Sovereign 72.43%








`

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

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

26-Dec-14 0.14517 0.13463 11.4391

25-Mar-15 0.17421 0.16155 11.5709

25-Jun-15 0.17334 0.16060 11.2788

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

High

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• Regular Income over long

term• Investment in diversified

portfolio 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.

28

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on 31.07.15)


Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit

@



July 31Regular 1.25%Institutional # 0.70%Institutional Plus # 0.60%Direct Plan 0.30%

Regular 1.25%

Direct Plan 0.30%



Institutional # 0.70%Institutional Plus # 0.60%

Asset Allocation

Corporate/ PSU Debt 62.20%Money Market Instruments 20.98%Government Securities 13.80%Net CurrentAssets 2.37%Cash Equivalents 0.65%



# Plan(s) discontinued from accepting subscriptions w.e.f.November 01, 2012

FUND PORTFOLIO


Corporate/ PSU Debt

Zero Coupon Bonds


Cash EquivalentsCBLO 1,033.81 0.65%Net Current Assets 3,804.97 2.37%Total Net Assets as on 31-Jul-2015 1,59,298.50 100.00%


Commercial Paper


Bank of India 4,769.32 2.99% CRISIL A1+Canara Bank 3,830.75 2.40% CRISIL A1+Andhra Bank 2,390.56 1.50% CARE A1+Bank of Maharashtra 2,388.48 1.50% CRISIL A1+Indian Bank 2,386.50 1.50% Fitch A1+Punjab & Sind Bank 2,383.75 1.50% CARE A1+Andhra Bank 1,913.83 1.20% CARE A1+Canara Bank 955.51 0.60% CRISIL A1+IDBI Bank 719.60 0.45% CRISIL A1+

Adani Ports & Special Economic Zone 4,651.15 2.92% [ICRA]A1+AU Financiers India Ltd 2,369.28 1.49% Fitch A1+AU Financiers India Ltd 2,303.65 1.45% Fitch A1+Cholamandalam Investment & Fin Co 1,902.23 1.19% CARE A1+Adani Ports & Special Economic Zone 466.03 0.29% [ICRA]A1+

L&T Finance 7,509.38 4.71% CARE AA+Pantaloons Fashion & Retail 5,013.00 3.15% [ICRA]AATata Capital Financial Services 5,002.41 3.14% CRISIL AA+NABARD 4,509.02 2.83% CRISIL AAARural Electrification Corporation 4,074.81 2.56% CRISIL AAAPower Finance Corporation 4,072.42 2.56% CRISIL AAAKotak Mahindra Prime 3,527.85 2.21% [ICRA]AAARural Electrification Corporation 2,980.87 1.87% CARE AAAPower Finance Corporation 2,604.07 1.63% CRISIL AAAHDFC 2,572.84 1.62% CRISIL AAAPower Grid Corporation of India 2,538.73 1.59% CRISIL AAAPower Finance Corporation 2,537.74 1.59% CRISIL AAASRF 2,536.35 1.59% Fitch AABajaj Finance 2,533.77 1.59% CRISIL AA+Kotak Mahindra Prime 2,520.91 1.58% [ICRA]AAAKotak Mahindra Prime 2,517.74 1.58% [ICRA]AAAPower Finance Corporation 2,511.60 1.58% CRISIL AAATata Capital Financial Services 2,509.64 1.58% CRISIL AA+Steel Authority of India 2,508.11 1.57% CARE AAATata Capital Financial Services 2,506.83 1.57% CRISIL AA+LIC Housing Finance 2,506.16 1.57% CARE AAAPower Finance Corporation 2,504.12 1.57% CRISIL AAATata Capital Financial Services 2,502.06 1.57% CRISIL AA+Power Grid Corporation of India 2,036.79 1.28% CRISIL AAAHDFC 2,031.28 1.28% CRISIL AAATata Sons 2,027.11 1.27% CRISIL AAARural Electrification Corporation 1,962.08 1.23% CRISIL AAAKotak Mahindra Prime 1,526.69 0.96% [ICRA]AAALIC Housing Finance 1,524.80 0.96% CRISIL AAAShriram Transport Finance Company 1,019.84 0.64% CRISIL AA+HDFC 1,019.50 0.64% CRISIL AAALIC Housing Finance 1,019.49 0.64% CRISIL AAALIC Housing Finance 1,019.09 0.64% CRISIL AAALIC Housing Finance 1,013.03 0.64% CARE AAAPower Grid Corporation of India 1,012.74 0.64% CRISIL AAAPower Grid Corporation of India 988.36 0.62% CRISIL AAALIC Housing Finance 506.87 0.32% CRISIL AAAPower Finance Corporation 505.80 0.32% CRISIL AAAPower Grid Corporation of India 505.11 0.32% CRISIL AAAPower Finance Corporation 504.42 0.32% CRISIL AAAHDFC 503.08 0.32% CRISIL AAAShriram Transport Finance Company 275.75 0.17% CRISIL AA+Rural Electrification Corporation 171.54 0.11% CRISIL AAALIC Housing Finance 140.01 0.09% CRISIL AAAHDFC 91.16 0.06% CRISIL AAARural Electrification Corporation 71.33 0.04% CRISIL AAA

Indiabulls Housing Finance 2,993.19 1.88% CARE AA+

7.68% GOVT OF INDIA RED 15-12-2023 5,903.37 3.71% SOVEREIGN7.16% GOVT OF INDIA RED 20-05-2023 5,693.85 3.57% SOVEREIGN7.35% GOVT OF INDIA RED 22-06-2024 4,325.80 2.72% SOVEREIGN8.27% GOVT OF INDIA RED- 09-06-2020 3,545.82 2.23% SOVEREIGN7.72% GOVT OF INDIA RED 25-05-2025 1,988.00 1.25% SOVEREIGN8.12% GOVT OF INDIA RED 10-12-2020 502.70 0.32% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating10-Dec-02

CRISIL Short Term BondFund Index

23.6842

2.87 years

2.21 years

8.32%

Sanjay Shah

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

AAAand equivalents 61.59%AA+/AA-/AAand equivalents 21.59%Sovereign 13.80%Net CurrentAssets 2.37%Reverse Repos/ CBLOs 0.65%





`

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-May-15 0.04619 0.04279 11.163625-Jun-15 0.05555 0.05146 11.1497

25-May-15 0.05222 0.04838 11.215025-Jun-15 0.06238 0.05780 11.2019

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

27-Jul-15 0.05023 0.04654 11.1599

27-Jul-15 0.05712 0.05292 11.2123

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


Investors understand that their principalwill be at Moderately Low risk

Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• Regular Income over Medium

term• Investment in diversified

portfolio of fixed incomesecurities

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


HSBC Floating Rate Fund - Long Term Plan (HFRF-LTP)An Open Ended Income Scheme

Investment Objective: Seeks to generate a reasonable return with commensurate risk through investments in floating rate debtinstruments and fixed rate debt instruments swapped for floating rate returns. The Scheme may also invest in fixed rate moneymarket and debt instruments.

29

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration ofPortfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Sub Options

Exit Load

per unit

@



July 31

Regular 1.30%

Institutional 0.75%

Direct Plan 0.20%

Regular 1.30%

Direct Plan 0.20%

#

#


Excludes service tax on Investment Management fees of 0.02%on Regular #, Institutional and 0.02% on Direct Plan of Total NetAssets.

Institutional 0.75%

Asset Allocation

Money Market Instruments 89.64%Cash Equivalents 10.58%Net CurrentAssets -0.22%



# Plan(s) discontinued from accepting subscriptions

w.e.f. November 01, 2012

FUND PORTFOLIO


Cash Equivalents

CBLO 480.52 10.58%




Commercial Paper

UCO Bank 715.67 15.76% CRISIL A1+

Punjab & Sind Bank 715.13 15.75% CARE A1+

Punjab National Bank 478.28 10.54% CARE A1+

IDBI Bank 239.87 5.28% CRISIL A1+

BILT Graphics Paper Products 496.28 10.93% Fitch A1+

Kotak Mahindra Investments 482.75 10.63% CRISIL A1+

Cholamandalam Investment & Fin Co 475.56 10.48% CARE A1+

Adani Ports & Special Economic Zone 466.03 10.27% [ICRA]A1+

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating16-Nov-04

CRISIL Liquid Fund Index

22.3956

0.50 years

0.47 years

8.12%

Kapil Punjabi

Available

10,000

1,000 p.m.(SIP)

Growth, Daily Dividend,Reinvestment Weekly

Dividend, Reinvestment,Monthly Dividend (Payout &

Reinvestment)

Nil

`

`

`

Rating Profile

AAAand equivalents 89.64%Reverse Repos/ CBLOs 10.58%Net CurrentAssets -0.22%





`

HSBC Floating Rate Fund - Long Term Plan - Regular Option - Monthly Dividend

HSBC Floating Rate Fund - Long Term Plan - Monthly Dividend - Direct Plan

HSBC Floating Rate Fund - Long Term Plan - Institutional Option - Monthly Dividend

25-May-15 0.04332 0.04014 10.0600

25-Jun-15 0.04645 0.04303 10.0643

25-May-15 0.04940 0.04577 10.0738

25-Jun-15 0.05210 0.04827 10.0792

27-Jul-15 0.04985 0.04618 10.0690

27-Jul-15 0.05634 0.05219 10.0858

25-Apr-14 0.05133 0.04916 10.5356

25-Aug-14 0.06294 0.06028 10.7639

25-Sep-14 0.17600 0.16856 10.7615



Riskometer

Modera

tely Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable forinvestors who are seeking*:• Liquidity over short term• Investment in floating rate and

fixed rate Debt and MoneyMarket Instruments

HSBC Floating Rate Fund - Long Term Plan (HFRF-LTP)


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 31.07.15)


Modified Duration

of Portfolio

Yield To Maturity*

Fund Managers

SIP

Minimum

Application Amount

Sub Options

Exit Load

per unit

@

Asset Allocation

Money Market Instruments 79.09%Treasury Bill 11.45%Fixed Deposit 7.52%Cash Equivalents 1.89%Net CurrentAssets 0.05%





FUND PORTFOLIO


Fixed Deposit

Treasury Bill

Cash Equivalents

CBLO 3,769.76 1.89%


Total Net Assets as on 31-Jul-2015 1,99,638.50 100.00%


Commercial Paper

Fixed Deposit

IDBI Bank 12,429.66 6.23% CRISIL A1+

Bank of India 9,966.19 4.99% CRISIL A1+

Punjab & Sind Bank 7,448.33 3.73% [ICRA]A1+

The Ratnakar Bank 4,985.97 2.50% [ICRA]A1+

The Ratnakar Bank 4,971.11 2.49% [ICRA]A1+

Axis Bank 4,968.74 2.49% CRISIL A1+

Oriental Bank of Commerce 4,964.61 2.49% CRISIL A1+


The South Indian Bank 2,489.66 1.25% CARE A1+

ICICI Bank 2,486.60 1.25% [ICRA]A1+


Dena Bank 2,483.28 1.24% CRISIL A1+


Corporation Bank 2,476.70 1.24% CRISIL A1+

Vijaya Bank 499.03 0.25% CARE A1+

Indiabulls Housing Finance 12,362.85 6.19% CRISIL A1+

India Infoline Finance 11,849.67 5.94% [ICRA]A1+

Cox & Kings 9,985.11 5.00% CARE A1+

Edelweiss Financial Services 7,433.56 3.72% CRISIL A1+

SREI Equipment Finance 4,993.07 2.50% [ICRA]A1+

Magma Fincorp 4,966.47 2.49% CRISIL A1+

BILT Graphics Paper Products 4,964.15 2.49% Fitch A1+

Kalpataru Power Transmission 4,963.22 2.49% CRISIL A1+

AU Financiers India Ltd 4,961.46 2.49% Fitch A1+

Reliance Capital 4,940.11 2.47% CRISIL A1+

Capital First 4,939.36 2.47% CARE A1+







Syndicate Bank 7,500.00 3.76% Fixed Deposit

HDFC Bank 7,500.00 3.76% Fixed Deposit

91 DAYS TREASURY BILL RED 27-08-2015 17,903.70 8.97% SOVEREIGN

91 DAYS TREASURY BILL RED 24-09-2015 4,946.14 2.48% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating04-Dec-02

CRISIL Liquid Fund Index

1433.3028

0.10 years

0.09 years

7.90%

Kapil Punjabi

Available

10,000

1,000 p.m.(SIP)

Growth, Daily Dividend,Reinvestment

Weekly Dividend,Reinvestment,

Monthly Dividend (Payout &Reinvestment)

Nil

`

`

`

Rating Profile

AAAand equivalents 79.09%Sovereign 11.45%Fixed Deposit 7.52%Reverse Repos/ CBLOs 1.89%Net CurrentAssets 0.05%





`

HSBC Cash Fund - Institutional Option - Monthly Dividend

HSBC Cash Fund - Monthly Dividend - Direct Plan

HSBC Cash Fund - Institutional Plus Option - Monthly Dividend

25-May-15 4.58438 4.24734 1006.4037

25-Jun-15 5.00107 4.63340 1006.9806

25-May-15 4.61302 4.27388 1006.6259

25-Jun-15 5.03256 4.66257 1007.2067

27-Jul-15 5.06488 4.69251 1007.0690

27-Jul-15 5.09735 4.72260 1007.2964

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.`



July 31Regular 1.00%Institutional 0.35%Institutional Plus 0.11%Direct Plan 0.06%

Regular 1.00%

Direct Plan 0.04%

#

#

#

#

Currently there is no Service Tax levied due to nil InvestmentManagement Fees being charged.

Currently there is no Service Tax levied due to nil InvestmentManagement Fees being charged.

Institutional 0.35%Institutional Plus 0.10%

Investors understand that their principalwill be at low risk

Riskometer

M

oderately Moderate

Low

High

LowHigh

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)

29


HSBC Gilt Fund (HGF)An Open Ended Gilt Scheme

Investment Objective: Aims to generate reasonable returns through investments in Government Securities of variousmaturities. The AMC's view of interest rate trends and the nature of the plans will be reflected in the maturities of securities inwhich the Plans are invested.

31

FUND DETAILS

Date of Allotment

Benchmark



Modified Durationof Portfolio

Yield To Maturity*

Fund Managers

SIP

Minimum

Application Amount

Exit Load

per unit

@

Asset Allocation






FUND PORTFOLIO


Cash Equivalents

CBLO 40.82 13.13%


Total Net Assets as on 31-Jul-2015 310.80 100.00%







IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating05-Dec-03

I-Sec Composite Index

17.9768

15.75 years

7.75 years

7.88%

Sanjay Shah

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

Sovereign 85.24%







`

HSBC Gilt Fund - Monthly Dividend

31-Oct-08 0.06136 0.05711 10.8077

28-Nov-08 0.04193 0.03903 10.7855

26-Dec-08 0.03400 0.03164 10.7764




July 31

Regular 1.00%

Direct Plan 0.50%

Regular 1.00%

Direct Plan 0.50%




Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately


term• Investment in Government

Securities

HSBC Gilt Fund (HGF)


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.

32

FUND DETAILS

Date of Allotment

Benchmark

NAV (Growth)

(as on 31.07.15)


Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum ApplicationAmount

Sub Options

Exit Load

per unit

@

Asset Allocation






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


# Plan(s) discontinued from accepting subscriptions w.e.f.November 01, 2012

FUND PORTFOLIO


Corporate/ PSU Debt

Zero Coupon Bonds

Cash Equivalents

CBLO 4,220.46 12.54%

Net Current Assets -1,525.32 -4.55%



Commercial Paper



Punjab National Bank 1,913.10 5.69% CARE A1+

UCO Bank 1,669.89 4.96% CRISIL A1+

Punjab & Sind Bank 1,668.63 4.96% CARE A1+


Canara Bank 957.69 2.85% CRISIL A1+

Andhra Bank 478.46 1.42% CARE A1+

Adani Ports & Special Economic Zone 3,728.26 11.08% [ICRA]A1+


BILT Graphics Paper Products 1,985.11 5.90% Fitch A1+

Kotak Mahindra Investments 1,931.00 5.74% CRISIL A1+

SREI Equipment Finance 497.77 1.48% [ICRA]A1+

Power Finance Corporation 2,504.12 7.44% CRISIL AAA

HDFC 1,014.12 3.01% CRISIL AAA

Kotak Mahindra Prime 1,007.96 3.00% [ICRA]AAA

Tata Capital Financial Services 999.62 2.97% CRISIL AA+

Shriram Transport Finance Company 510.66 1.52% CRISIL AA+

Bajaj Finance 507.69 1.51% [ICRA]AA+

LIC Housing Finance 506.87 1.51% CRISIL AAA

Tata Sons 506.78 1.51% CRISIL AAA


Kotak Mahindra Prime 504.18 1.50% [ICRA]AAA

Shriram Transport Finance Company 61.14 0.18% CRISIL AA+

HDFC 1,295.75 3.85% CRISIL AAA

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating17-Oct-06

Customised

Benchmark Index**

12.7229

0.79 years

0.71 years

8.18%

Kapil Punjabi

Available

10,000

1,000 p.m.(SIP)

Growth, Daily Dividend,Reinvestment

Weekly Dividend,Reinvestment

Monthly Dividend (Payout &Reinvestment)

Nil

`

`

`

Rating Profile



AA+/AA-/AAand equivalents 6.18%






`

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-May-15 0.04182 0.03874 10.1847

25-Jun-15 0.05043 0.04673 10.1966

27-Jul-15 0.05367 0.04972 10.2011

25-Jun-14 0.15218 0.14575 10.1953

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




July 31

Regular 1.30%

Institutional 1.00%

Institutional Plus 0.25%

Direct Plan 0.20%

Regular 1.30%

Institutional 1.00%

Institutional Plus 0.25%

Direct Plan 0.20%

#

#

#

#




Riskometer

Modera

tely Moderate

Low

High

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.

33

FUND DETAILS

Date of Allotment

Benchmark



Modified Duration

of Portfolio

Yield To Maturity*

Fund Manager

SIP

Minimum

Application Amount

Exit Load

per unit

@

Asset Allocation









FUND PORTFOLIO

Corporate/ PSU Debt


Cash Equivalents

CBLO 3,179.02 5.82%




Rural Electrification Corporation 4,968.11 9.10% CARE AAA

Power Grid Corporation of India 491.95 0.90% CRISIL AAA

NABARD 397.91 0.73% CRISIL AAA











8.29% TAMIL NADU SDL RED 29-07-2025 1,557.40 2.85% SOVEREIGN

IssuerMarket Value

( in Lacs)`

% to NetAssets

Rating05-Oct-07

CRISIL Composite BondFund Index

19.3703

11.99 years

6.93 years

7.98%

Sanjay Shah

Available

10,000

1,000 p.m.(SIP)

Nil

`

`

`

Rating Profile

Sovereign 82.31%








`

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

25-Jun-15 0.18057 0.16729 11.8869

25-Jun-15 0.18057 0.16729 11.8484

25-Jun-15 0.18057 0.16729 12.1094

14-Sep-12 0.35236 0.30201 11.4315

15-Mar-13 0.35236 0.30201 11.6629

25-Mar-15 0.37019 0.34330 12.5368

15-Mar-13 0.35236 0.30201 10.9757

25-Sep-14 0.31171 0.29853 11.2593

25-Mar-15 0.34842 0.32311 11.8530

27-Jan-15 0.21014 0.19488 10.8749

25-Feb-15 0.03739 0.03467 10.6368

27-Apr-15 0.01724 0.01597 10.6092

25-Feb-15 0.04250 0.03941 10.7726

27-Apr-15 0.02708 0.02509 10.7518

27-Jul-15 0.00679 0.00629 10.7236

26-Dec-14 0.16332 0.15146 12.0792

25-Mar-15 0.18147 0.16829 12.2052

26-Dec-14 0.16332 0.15146 12.0271

25-Mar-15 0.18147 0.16829 12.1590

26-Dec-14 0.16332 0.15146 12.2374

25-Mar-15 0.18147 0.16829 12.3982




July 31

Regular # 1.85%Institutional 1.60%

Regular # 1.85%

Institutional 1.60%

Direct Plan 0.85%

Direct Plan 0.85%


Excludes service tax on Investment Management fees of0.09% of Total Net Assets.


Riskometer

Mod

erately Moderate

Low

High

Low

High

LOW HIGH

Moderately


term• Investment in Debt / Money

Market Instruments

HSBC Flexi Debt Fund (HFDF)


34

HSBC MIP - Savings & Regular Plan


HSBC Income Fund - Short Term Plan

HSBC Floating Rate Fund Long Term Plan

HSBC Cash Fund

HSBC Gilt Fund

HSBC Ultra Short Term Bond Fund


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

Sanjay Shah (from 09 January 2009)


Kapil Punjabi (from 18 October 2014)

Kapil Punjabi (from 14 March 2014)


Kapil Punjabi (from 18 October 2014)


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 15 years of experience in research and risk


Senior Vice President & Fund Manager, Fixed Income since October 2011 to present,

Vice President & Fund Manager, Fixed Income since December 2008 to September 2011.

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

�

�

�

�

�

�

Kapil Punjabi

Vice President & Fund Manager - Fixed Income

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

Experience:

Over 9 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) &Aditya Khemani (for Equity portion)

Funds Managed by - Sanjay Shah.

HSBC MIP - Regular Plan

HSBC MIP - Savings Plan

HSBC Gilt Fund



Date of Inception : 05 Dec 03




July 14 -June 15

July 14 -June 15

July 14 -June 15

July 13 -June 14

July 13 -June 14

July 13 -June 14

July 12 -June 13

July 12 -June 13

July 12 -June 13

SinceInception

SinceInception

SinceInception

HSBC MIP - Regular Plan - Growth

Crisil MIP Blended Index (Scheme Benchmark)

Crisil 1 Year T-Bill Index (Standard Benchmark)


10,000, if invested in HMIP - R, 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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`

HSBC MIP - Savings Plan - Growth

Crisil MIP Blended Index (Scheme Benchmark)



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

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



`

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`

HSBC Gilt Fund - Growth

I-Sec Composite Bond Fund Index (Scheme Benchmark)


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

10,000, if invested in I-Sec Composite Bond Fund Index, would have become


`

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`

9.37% 9.82% 10.18% 8.12%

11.01% 7.85% 10.87% 7.78%

8.52% 5.91% 8.19% 5.78%

11.73% -2.43% 12.14% 4.99%

10,937 10,982 11,018 22,445

11,101 10,785 11,087 21,735

10,852 10,591 10,819 17,892

11,173 9,757 11,214 16,556

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` ` ` `

` ` ` `

` ` ` `

9.94% 14.33% 11.43% 9.80%

11.01% 7.85% 10.87% 7.78%

8.52% 5.91% 8.19% 5.78%

11.73% -2.43% 12.14% 4.99%

10,994 11,433 11,143 26,332

11,101 10,785 11,087 21,735

10,852 10,591 10,819 17,892

11,173 9,757 11,214 16,556

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` ` ` `

` ` ` `

` ` ` `

10.92% 1.57% 12.21% 5.08%

11.69% 3.98% 12.02% 7.13%

11.73% -2.43% 12.14% 4.97%

11,092 10,157 11,221 17,739

11,169 10,398 11,202 22,207

11,173 9,757 11,214 17,525

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Data for the period July to June has been considered in all cases, except for ‘Since Inception’ returns. ‘Since Inception’ (%) returns arecompounded annualised, other % returns are simple annualised. ‘Since inception’ returns are calculated on 10 invested at inception.Standard benchmark is prescribed by SEBI and is used for comparison purposes. Returns on 10,000 are point-to-point returns for thespecific time period, invested at the start of the period. The returns provided above have been rounded off and hence there may be minordifferences between point-to-point returns vis-a-vis returns indicated above.

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Comparative Performance of Debt Schemes

35


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Date of Inception : 10 Dec 02

Date of Inception: 05 Oct 07



July 14 -June 15

July 14 -June 15

July 13 -June 14

July 13 -June 14

July 12 -June 13

July 12 -June 13

SinceInception

SinceInception

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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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


`

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`

9.90% 2.47% 11.56% 7.07%

11.11% 4.51% 10.76% 6.34%

11.73% -2.43% 12.14% 5.66%

10,990 10,247 11,156 22,042

11,111 10,451 11,076 20,349

11,173 9,757 11,214 18,902

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10.09% 3.88% 11.44% 8.75%

11.11% 4.51% 10.73% 7.42%

11.73% -2.43% 12.14% 6.44%

11,009 10,388 11,144 19,147

11,111 10,451 11,073 17,401

11,173 9,757 11,214 16,210

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36

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


July 13 -June 14

July 12 -June 13

SinceInception

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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8.79% 7.56% 9.26% 7.03%

9.54% 8.75% 9.33% 6.94%

8.52% 5.91% 8.19% 5.74%

10,879 10,756 10,926 21,930

10,954 10,875 10,933 21,723

10,852 10,591 10,819 19,066

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HSBC Cash Fund@

Date of Inception: 04 Dec 02


July 13 -June 14

July 13 -June 14

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 FRF - LTP - Regular Plan Date of Inception : 16 Nov 04


July 13 -June 14

July 12 -June 13

SinceInception

HSBC FRF - LTP - Growth

Crisil Liquid Fund Index (Scheme Benchmark)


10,000, if invested HFRF - LTP, would have become

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


`

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8.57% 9.39% 8.68% 7.79%

8.75% 9.64% 8.14% 7.18%

8.52% 5.91% 8.19% 6.00%

10,857 10,939 10,868 22,200

10,875 10,964 10,814 20,900

10,852 10,591 10,819 18,578

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Last 7 Daysas on 30

June 2015

Last 15 Daysas on 30

June 2015

Last 30 Daysas on 30

June 2015

8.19% 8.12% 8.15% 8.81% 9.59% 8.78% 8.96%

8.00% 7.96% 8.05% 8.75% 9.64% 8.14% 8.79%

7.74% 7.77% 7.95% 8.67% 8.76% 8.31% 8.39%

10,016 10,033 10,067 10,881 10,959 10,878 14,240

10,015 10,033 10,066 10,875 10,964 10,814 14,150

10,015 10,032 10,065 10,867 10,876 10,831 13,938

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@Pursuant to SEBI circular dated Sept 13, 2012, certain Plans/options within the schemes have been discontinued to comply with a singleplan structure. Since there was no continuous NAV history available for the surviving Plan prior to 19 May 2011, returns since the said datehave been considered for calculating performance. The inception date of HSBC Cash Fund however is 4 December 2002.


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37

Funds Managed by - Kapil Punjabi.

HSBC Ultra Short Term Bond Fund$

Date of Inception : 17 Oct 06


July 13 -June 14

SinceInception

HSBC Ultra Short Term Bond Fund - Growth



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



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8.64% 9.32% 8.87%

8.83% 9.55% 8.95%

8.52% 5.91% 7.46%

10,864 10,932 21,251

10,883 10,955 21,384

10,852 10,591 18,931

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*Composite index of Crisil Liquid Fund Index(90%) and Crisil Short 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 singleplan structure. Since there was no continuous NAV history available for the surviving Plan prior to 1 October 2012, returns since the said datehave been considered for calculating performance. The inception date of HSBC Ultra Short Term Bond Fund however is 17 October 2006.

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.

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

HSBCAsset Management (India) Private Limited,

16, V.N. Road, Fort, Mumbai-400001

Email: [email protected]

Website: www.assetmanagement.hsbc.com/in

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