HSBC Flexi Cap review: 22% returns in three years; should you invest in this flexi-cap fund?
HSBC FLEXI CAP
BASIC FACTS
DATE OF LAUNCH
24 FEBRUARY 2004
CATEGORY
EQUITY
TYPE
FLEXI CAP
AUM*
Rs.4,435 crore
BENCHMARK
NIFTY 500 TOTAL
RETURN INDEX
WHAT IT COSTS
NAV**
GROWTH OPTION
Rs.211.58
IDCW
Rs.47.68
MINIMUM INVESTMENT
Rs.5,000
MINIMUM SIP AMOUNT
Rs.1,000
EXPENSE RATIO# (%)
1.94
EXIT LOAD
For units in excess of 10% of investment, 1% will be charged for redemption within 365 days.
*AS ON 31 MAY 2024
**AS ON 2 JULY 2024
#AS ON 28 JUNE 2024
FUND MANAGERS
VENUGOPAL MANGHAT (PIC) /ABHISHEK GUPTA
2 MONTHS / 3 MONTHS
Recent portfolio changes
New entrants
Birlasoft, Mangalore Chemicals & Fertilizers, PNC Infratech (Apr). Coforge, Concord Biotech, Go Digit General Insurance, Grindwell Norton, Hindustan Aeronautics, Persistent Systems (May).
Complete exits
Canara Bank, Kotak Mahindra Bank, Maruti Suzuki India, Tata Communications (Apr). APL Apollo Tubes, Apollo Hospitals Enterprise, CIE Automotive India, Mphasis, Pfizer, Tata Consultancy Services (May).
Should You Buy?
Earlier known as HSBC Multicap Equity, this fund was rebranded to reflect its fluid positioning as a flexi-cap fund. The fund prefers quality businesses characterised by scalability and strong execution capability, proven management track record and strong financials. The ESG parameters and valuation are also embedded in the framework. It currently has a sharper presence in mid and small caps compared to many of its peers. The fund’s long-term track record indicates chronic underperformance across market cycles. However, its return profile
