Fundalysisby DARKHORSESTOCKS

Fund manager · HSBC

Venugopal Manghat

CIO – Equity at HSBC. Runs 4 schemes worth ₹41,932 Cr.

  • Fund house

    HSBCThey run their schemes at HSBC.

  • AUM they run

    ₹41,932 CrThe AUM of the schemes they run, as main or co-manager, at the latest month's end, as AMFI reports it. A scheme two people run counts for both.

  • Schemes

    4 now · 3 beforeSchemes they run now, as main or co-manager, and ones they ran before, since Sept 2024.

  • Experience

    33 years33

Profile(HSBC's SAI, 24 Jun 2026)

About

Role
CIO – Equity
Studied
MBA Finance, BSC (Mathematics)
Age
55 years
Experience
33

Schemes now4

  1. HSBC Small Cap Fund₹18,513 Cr
  2. HSBC Value Fund₹14,660 Cr
  3. HSBC Multi Cap Fund₹6,380 Cr
  4. HSBC Infrastructure Fund₹2,379 Cr

AUM they run(Feb 2019 – Sept 2026)

AUM at month end each month, and its change on the month before
12 months₹ CrChange
Sept 202641,932−3.4%
Aug 202643,418+5.4%
Jul 202641,201+0.4%
Jun 202641,025+3.9%
May 202639,486+0.8%
Apr 202639,179+14.9%
Mar 202634,111−9.6%
Feb 202637,714+2.0%
Jan 202636,962−3.5%
Dec 202538,307−0.3%
Nov 202538,411−0.3%
Oct 202538,530+3.9%
AUM at month end, Sept 2026
₹41,932 Cr
+8.8% since Oct 2025
Fig. 1.The AUM of the schemes Venugopal Manghat ran at each month's end, each only in the months they ran it, ₹ crore. A scheme two people run counts in full for both. Source: AMFI.

Schemes over time(Nov 2012 – now)

  1. Value Fund
  2. Business Cycles Fund
  3. Small Cap Fund
  4. Infrastructure Fund
  5. Multi Cap Fund
  6. Midcap Fund
  7. Flexi Cap Fund
HSBC2013201520172019202120232025
Fig. 1.The schemes they ran when, the oldest first: each from the date its fund house gives, or the first document listing them where it gives none, to when they left, coloured by fund house.

Schemes(Nov 2012 – now)

HSBC

4 now · since Nov 2012
  1. HSBC Small Cap Fund
    Fund managerDec 2019—6y 11m₹18,513 CrSmall CapTER 0.76%

Source.Each scheme's Scheme Summary Document at AMFI and its filings at NSE.

Performance(7 schemes)

Growth · Direct plans, Regular before 2013

Return as manager
+18.63%
Beat peers
5 of 7
vs peers
+1.03 pt
Longest run
3.9 years
Beat benchmark
Upcoming
Each scheme Venugopal Manghat ran, against its peers and benchmark over the same months. Source: AMFI. Click a column's header to sort by it.
HSBC Business Cycles Fund
Nov '22–Jun '25 · 2.5y
+25.36%+20.09%+5.27 pt––
HSBC Infrastructure Fund
Nov '22–now · 3.9y
+19.87%+18.84%+1.03 pt––
HSBC Value Fund
Nov '22–now · 3.9y
+15.91%+12.32%+3.59 pt––
HSBC Small Cap Fund
Nov '22–now · 3.9y
+18.63%+18.80%−0.17 pt––
HSBC Multi Cap Fund
Feb '23–now · 3.7y
+21.50%+16.79%+4.71 pt––
HSBC Midcap Fund
Mar '24–Jun '25 · 1.3y
+16.29%+16.35%−0.06 pt––
HSBC Flexi Cap Fund
Apr '24–Jun '25 · 1.2y
+13.75%+13.64%+0.12 pt––
Fig. 1.Each scheme Venugopal Manghat ran, against its peers and benchmark over the same months. Source: AMFI.

Works with(2 now)

  1. Gautam BhupalInfrastructure Fund1 scheme
  2. Mahesh ChhabriaMulti Cap Fund1 scheme

Career(Jun 1995 – May 2016)

L&T Investment Management Limited as Co Head – Equities from

  1. Position not stated
    Nov 2012—May 20163y 7m

L&T Investment Management Limited as Vice President and Co-Head – Equity Investments from

  1. Position not stated
    Jan 2012—Nov 201211m

Tata Asset Management Limited from

  1. Position not stated
    Jun 1995—Jan 201216y 8m

Source.HSBC's Statement of Additional Information, as of 24 Jun 2026.