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HSBC Business Cycles Fund

Mutual fund

Direct · Growth

· AMFI 151142

₹48.98

+5.0%over 1 year

Price of one unit (NAV) on 11 November 2026

NAV went from ₹46.66 on 11 November 2025 to ₹48.98 on 11 November 2026.

Past prices are not a forecast of anything.

Ask about this fund

Overview

Kind of fund
Thematic
Yearly fee
1.14%
Since 8 October 2026
Fund size
₹1,179 crore
Started
20 August 2014
Exit load
1% if sold within 1 year, on units over 10% of the investment
Compared against
NIFTY 500 TRI
Plan
Direct · Growth
Companies held
70
72 lines in all
Holdings as at
29 September 2026

What does it hold?

Company size

  • Large
  • Mid
  • Small
  • Cash, bonds, abroad
  • HSBC Business Cycles Fund

Industries

  • Industrials31%
  • Financial31%
  • Consumer Discretionary16%
  • Materials8%
  • Technology7%
  • Energy & Utilities3%
  • Real Estate1%
  • Diversified1%

Top companies

10 of 70 companies · holdings as at 29 September 2026

  1. 1

    ICICI Bank Ltd

    LargeFinancial

    5.3%
  2. 2

    MTAR Technologies Ltd

    SmallIndustrials

    3.9%
  3. 3

    Interglobe Aviation Ltd

    LargeIndustrials

    3.4%
  4. 4

    HDFC Bank Ltd

    LargeFinancial

    3.0%
  5. 5

    Reliance Industries Ltd

    LargeEnergy & Utilities

    2.6%
  6. 6

    Hindustan Aeronautics Ltd

    LargeIndustrials

    2.5%
  7. 7

    RBL Bank Ltd

    MidFinancial

    2.4%
  8. 8

    ICICI Prudential Asset Management Company Ltd.

    LargeFinancial

    2.3%
  9. 9

    Bharat Electronics Ltd

    LargeIndustrials

    2.2%
  10. 10

    Larsen & Toubro Ltd

    LargeIndustrials

    2.1%
Show all 70
  1. 11

    GE T&D India Ltd

    LargeIndustrials

    2.1%
  2. 12

    Kotak Mahindra Bank Ltd

    LargeFinancial

    1.9%
  3. 13

    APL Apollo Tubes Ltd

    MidIndustrials

    1.9%
  4. 14

    State Bank of India

    LargeFinancial

    1.9%
  5. 15

    Multi Commodity Exchange Of India Ltd

    MidFinancial

    1.9%
  6. 16

    PNB Housing Finance Ltd

    SmallFinancial

    1.9%
  7. 17

    Electronics Mart India Ltd

    SmallConsumer Discretionary

    1.8%
  8. 18

    Ultratech Cement Ltd

    LargeMaterials

    1.8%
  9. 19

    Zomato Ltd

    LargeTechnology

    1.7%
  10. 20

    TVS Motor Company Ltd

    LargeConsumer Discretionary

    1.7%
  11. 21

    Paradeep Phosphates Ltd

    SmallMaterials

    1.7%
  12. 22

    Motilal Oswal Financial Services Ltd

    MidFinancial

    1.7%
  13. 23

    Jyoti CNC Automation Ltd.

    SmallIndustrials

    1.6%
  14. 24

    Dhoot Transmission Ltd

    SmallConsumer Discretionary

    1.4%
  15. 25

    Sterlite Technologies Ltd

    MidTechnology

    1.4%
  16. 26

    Swiggy Ltd.

    MidTechnology

    1.4%
  17. 27

    ABB India Ltd

    LargeIndustrials

    1.3%
  18. 28

    DEWAN HOUSING FINANCE CORP. LTD. EQ

    MidFinancial

    1.3%
  19. 29

    Ahluwalia Contracts (India) Ltd

    SmallIndustrials

    1.3%
  20. 30

    R R Kabel Ltd.

    SmallIndustrials

    1.3%
  21. 31

    Time Technoplast Ltd

    SmallMaterials

    1.3%
  22. 32

    Indo Count Industries Ltd

    SmallConsumer Discretionary

    1.2%
  23. 33

    Canara Robeco Asset Management Company Ltd.

    SmallFinancial

    1.2%
  24. 34

    Pine Labs Ltd.

    SmallTechnology

    1.2%
  25. 35

    Prudent Corporate Advisory Services Ltd

    SmallFinancial

    1.2%
  26. 36

    Gujarat Fluorochemicals Ltd

    MidMaterials

    1.2%
  27. 37

    Meesho Ltd.

    MidConsumer Discretionary

    1.2%
  28. 38

    Shadowfax Technologies Ltd.

    SmallIndustrials

    1.1%
  29. 39

    FSN E-Commerce Ventures Ltd

    MidConsumer Discretionary

    1.1%
  30. 40

    Titan Company Ltd

    LargeConsumer Discretionary

    1.1%
  31. 41

    Amber Enterprises India Ltd

    SmallConsumer Discretionary

    1.1%
  32. 42

    Blue Star Ltd

    SmallIndustrials

    1.1%
  33. 43

    Titagarh Wagons Ltd

    SmallIndustrials

    1.1%
  34. 44

    Power Mech Projects Ltd

    SmallIndustrials

    1.1%
  35. 45

    Billionbrains Garage Ventures Ltd.

    LargeFinancial

    1.1%
  36. 46

    Nippon Life India Asset Management Ltd

    MidFinancial

    1.1%
  37. 47

    PB Fintech Ltd

    MidFinancial

    1.1%
  38. 48

    Gokaldas Exports Ltd

    SmallConsumer Discretionary

    1.0%
  39. 49

    Maruti Suzuki India Ltd

    LargeConsumer Discretionary

    1.0%
  40. 50

    Mold-Tek Packaging Ltd

    SmallMaterials

    1.0%
  41. 51

    PTC Industries Ltd

    SmallMaterials

    0.9%
  42. 52

    Home First Finance Company India Ltd

    SmallFinancial

    0.9%
  43. 53

    Wakefit Innovations Ltd.

    SmallConsumer Discretionary

    0.9%
  44. 54

    Tata Motors Ltd

    LargeIndustrials

    0.9%
  45. 55

    Sobha Ltd

    SmallReal Estate

    0.8%
  46. 56

    Lenskart Solutions Ltd.

    LargeConsumer Discretionary

    0.8%
  47. 57

    Optiemus Infracom Ltd

    SmallTechnology

    0.8%
  48. 58

    Cholamandalam Investment & Finance Company Ltd

    LargeFinancial

    0.7%
  49. 59

    Devyani International Ltd

    SmallConsumer Discretionary

    0.7%
  50. 60

    Diamond Power Infrastructure Ltd

    SmallIndustrials

    0.7%
  51. 61

    Pitti Engineering Ltd

    SmallIndustrials

    0.6%
  52. 62

    Aditya Infotech Ltd.

    MidTechnology

    0.6%
  53. 63

    JSW Steel Ltd

    LargeMaterials

    0.5%
  54. 64

    Apar Industries Ltd

    MidDiversified

    0.5%
  55. 65

    Indian Hume Pipe Company Ltd

    SmallIndustrials

    0.5%
  56. 66

    HDFC Asset Management Company Ltd

    MidFinancial

    0.5%
  57. 67

    Amara Raja Batteries Ltd

    SmallConsumer Discretionary

    0.4%
  58. 68

    Ganesha Ecosphere Ltd

    SmallConsumer Discretionary

    0.4%
  59. 69

    Bharat Bijlee Ltd

    SmallIndustrials

    0.3%
  60. 70

    Awfis Space Solutions Ltd.

    SmallIndustrials

    0.3%

What does it cost?

1.14% a year: ₹114 on every ₹10,000 you hold.

The middle fee for Thematic direct plans is 1.05%.

Exit load: 1% if sold within 1 year, on units over 10% of the investment

How has it done?

1 year
+5.0%
3 years, per year
+16.6%
5 years, per year
Too young

Worst fall so far: −23.4% (Dec 2024 to Mar 2025).

Past prices are not a forecast of anything.

Events

  1. 8 October 2026Fee moved between 1.12% and 1.14% a year (5 changes, 29 Sep – 8 Oct 2026).
  2. 29 September 2026New portfolio published: holdings as at 29 September 2026.
  3. 24 September 2026Fee moved between 1.11% and 1.16% a year (14 changes, 17 Jun – 24 Sep 2026).
  4. 15 June 2026Fee moved between 1.16% and 1.18% a year (4 changes, 4 Jun – 15 Jun 2026).
  5. 1 June 2026Fee changed from 1.04% to 1.18% a year.
Show all 34
  1. 29 May 2026Fee changed from 1.03% to 1.04% a year.
  2. 26 May 2026Fee changed from 2.10% to 1.03% a year.
  3. 25 May 2026Fee changed from 1.04% to 2.10% a year.
  4. 23 May 2026Fee changed from 1.88% to 1.04% a year.
  5. 22 May 2026Fee changed from 1.34% to 1.88% a year.
  6. 21 May 2026Fee changed from 1.04% to 1.34% a year.
  7. 20 May 2026Fee changed from 1.34% to 1.04% a year.
  8. 19 May 2026Fee changed from 1.05% to 1.34% a year.
  9. 18 May 2026Fee changed from 1.04% to 1.05% a year.
  10. 14 May 2026Fee changed from 1.19% to 1.04% a year.
  11. 13 May 2026Fee changed from 1.42% to 1.19% a year.
  12. 12 May 2026Fee changed from 1.04% to 1.42% a year.
  13. 11 May 2026Fee moved between 1.02% and 1.04% a year (3 changes, 7 May – 11 May 2026).
  14. 4 May 2026Fee changed from 1.39% to 1.03% a year.
  15. 30 April 2026Fee changed from 1.04% to 1.39% a year.
  16. 8 January 2026Fee moved between 1.03% and 1.08% a year (30 changes, 25 Jun 2025 – 8 Jan 2026).
  17. 5 June 2025Fee moved between 1.08% and 1.13% a year (13 changes, 17 Apr – 5 Jun 2025).
  18. 15 April 2025Fee moved between 1.11% and 1.15% a year (11 changes, 18 Mar – 15 Apr 2025).
  19. 13 March 2025Fee moved between 1.15% and 1.20% a year (24 changes, 10 Jan – 13 Mar 2025).
  20. 9 January 2025Fee moved between 1.12% and 1.15% a year (8 changes, 2 Dec 2024 – 9 Jan 2025).
  21. 28 November 2024Fee changed from 1.21% to 1.15% a year.
  22. 25 November 2024Fee moved between 1.20% and 1.25% a year (26 changes, 13 Jun – 25 Nov 2024).
  23. 10 June 2024Fee moved between 1.25% and 1.30% a year (17 changes, 24 Apr – 10 Jun 2024).
  24. 16 April 2024Fee moved between 1.30% and 1.35% a year (20 changes, 14 Dec 2023 – 16 Apr 2024).
  25. 29 November 2023Fee moved between 1.35% and 1.40% a year (23 changes, 5 Apr – 29 Nov 2023).
  26. 3 April 2023Fee moved between 1.39% and 1.44% a year (10 changes, 1 Dec 2022 – 3 Apr 2023).
  27. 28 November 2022Fee changed from 1.24% to 1.44% a year.
  28. 24 November 2022Fee changed from 1.44% to 1.24% a year.
  29. 30 September 2022Fee moved between 1.43% and 1.48% a year (44 changes, 24 Jan – 30 Sep 2022).

Related

All 232 Thematic funds, A to Z →

Sources and dates

Holdings
Groww's page for this fund, month-end 29 September 2026
Prices
AMFI via mfapi.in, to 11 November 2026
Fee
Groww, from 8 October 2026
Company sizes
SEBI's rank by full market value, 25 September 2026