Fundalysisby DARKHORSESTOCKS

Scheme

HSBC Multi Asset Allocation Fund

Holds 68 companies worth ₹2,341 Cr in Sept 2026.

  • Fund house

    HSBCThe fund house that runs this scheme.

  • AUM

    ₹3,141 CrHSBC Multi Asset Allocation Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 3.6% on Aug 2026, ₹3,260 Cr.

  • Largest holding

    ICICI BankICICI Bank is 7.9% of this scheme's NAV.

  • Fund manager

    Cheenu GuptaRuns it since 28 Feb 2024, as the fund house dates it. With Mahesh Chhabria (fund manager), Mohd. Asif Rizwi (fund manager), Dipan Parikh (gold & silver), Mayank Chaturvedi (overseas), Praveen Ayathan (arbitrage).

Overview(16 Sept 2026)

Fund managers6

  1. Cheenu GuptaFund manager, equity · Feb 2024 · 20y · CFA PGDM B.E.
  2. Mahesh ChhabriaFund manager, debt · Feb 2024 · 15y · MMS
  3. Mohd. Asif RizwiFund manager, debt · Feb 2025 · 16y · PGDM B.Tech
  4. Dipan ParikhGold & silver · Feb 2024 · 29y · B.Com
  5. Mayank ChaturvediOverseas · Oct 2025
  6. Praveen AyathanArbitrage · Mar 2026 · 34y

    Key facts

    Benchmark
    BSE 200 TRI (65%) + NIFTY Short Duration Debt Index (20%) +Domestic Price of Gold (10%)+Domestic Price of Silver (5%)
    Risk
    Very High
    Expense
    Regular 2.41% · Direct 1.06%
    Exit load
    10% within 1 year
    Started
    28 Feb 2024
    Minimum
    ₹5,000

    Source.Its Scheme Summary Document as of 16 Sept 2026 at AMFI.

    What changed(19 changes)

    Sept 2026

    3 changes
    1. Mayank Chaturvedi joined
      16 Septfor overseas investments
    2. Praveen Ayathan joined
      16 Septfor arbitrage
    3. Sonal Gupta left
      16 Septran it for overseas investments from Feb 2024

    Apr 2026

    1 change
    1. Expense ratio
      9 AprRegular 1.78% → 1.81%Direct 0.45% → 0.48%

    Mar 2026

    1 change
    1. Expense ratio
      11 MarRegular 1.76% → 1.78%Direct 0.43% → 0.45%

    Source.Its filings at NSE, since Sept 2024.

    Fund managers over time(Feb 2024 – now)

    1. Cheenu Gupta
    2. Mahesh Chhabria
    3. Mohd. Asif Rizwi
    4. Dipan Parikh
    5. Mayank Chaturvedi
    6. Praveen Ayathan
    7. Sonal Gupta
    8. Kapil Punjabi
    MainCoSlice20252026
    Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

    Costs(Sept 2024 – Sept 2026)

    Every change to the expense ratio, newest first.
    15 changesRegularDirectΔ pt
    9 Apr 20261.81%0.48%0.03
    11 Mar 20261.78%0.45%0.02
    11 Feb 20261.76%0.43%0.03
    13 Jan 20261.79%0.46%0
    7 Dec 20251.81%0.46%0.01
    11 Nov 20251.82%0.47%0.01
    13 Oct 20251.81%0.46%0.03
    10 Sept 20251.84%0.49%0.01
    9 Aug 20251.85%0.50%0
    7 Jul 20251.86%0.50%0.01
    6 Jun 20251.87%0.51%0.01
    6 Jan 20251.88%0.52%0.01
    4 Dec 20241.89%0.53%0.01
    8 Oct 20241.88%0.52%0.03
    16 Sept 20241.91%0.55%–
    Direct plan, 9 Apr 2026
    0.48%
    Regular plan 1.81% · Exit load 10% within 1 year
    Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

    Objective and risk(16 Sept 2026)

    Objective

    The aim of the fund is to generate long-term capital growth and generate income by investing in Equity & Equity Related instruments, Debt & Money Market Securities and Gold / Silver ETFs. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

    Risk, type and benchmark

    Riskometer
    Very High
    At launch
    Very High
    Type
    An open ended scheme investing in Equity & Equity Related instruments, Debt & Money Market Securities and Gold / Silver ETFs.
    Benchmark
    BSE 200 TRI (65%) + NIFTY Short Duration Debt Index (20%) +Domestic Price of Gold (10%)+Domestic Price of Silver (5%)

    Asset allocation it may hold% of NAV

    1. Equities & Equity related instruments
      Allowed65–80%Holds74.5%
    2. Debt, Money Market Securities
      Allowed10–25%Holds25.5%
    3. Gold / Silver ETFs
      Allowed10–25%
    4. Units issued by REITs/ InvITs
      Allowed0–10%Holds0.0%

    Holds in Sept 2026.74.5% equity · 25.5% debt and cash

    How to invest(16 Sept 2026)

    Buying

    To start
    ₹5,000, then in multiples of ₹1
    To add
    ₹1,000, then in multiples of ₹1
    Systematic
    SIP - Daily (All Business Days from Monday to Friday), Weekly (Any Day from Monday to Friday), Monthly, Quarterly; SWP - Monthly, Quarterly, Half Year, Annual; STP - Daily (Business Days), Weekly, Fortnightly, Monthly, Quarterly
    Dates
    SIP - Daily (Daily SIP will be processed from Monday to Friday. In case of a non-business day falling between Monday to Friday (both days inclusive) then the daily SIP installment for that day will not be processed on the next business day.); Weekly - Any day from Monday to Friday; Other than daily and weekly - Any Date, SWP and STP - Any Dates
    Minimum
    SIP - 500 Daily 6; 500 Weekly 6; 500 Monthly 6; 1500 Quarterly 4; Minimum Aggregate Amount: Rs. 6,000/- in multiples of Re.1. SWP - 500 STP - 500;The minimum amount required under the source scheme for registering STP is Rs. 6,000., then in multiples of ₹1
    Instalments
    SIP - Daily 6; Weekly 6; Monthly 6; Quarterly 4 SWP - 12 STP - 6

    Selling and switching

    To redeem
    ₹500 or 50 units
    Switch minimum
    ₹5,000

    Scheme details(16 Sept 2026)

    What it is

    Category
    Open Ended - Hybrid - Multi Asset Allocation
    Offer
    8 Feb 2024 to 22 Feb 2024
    Started
    28 Feb 2024
    Reopened
    1 Mar 2024
    Plans
    HSBC Multi Asset Allocation Fund - Direct Growth · HSBC Multi Asset Allocation Fund - Direct IDCW · HSBC Multi Asset Allocation Fund - Regular Growth · HSBC Multi Asset Allocation Fund - Regular IDCW
    Face value
    ₹10
    Listed
    No

    How it is run

    Swing pricing
    No
    Side-pocketing
    No
    Custodian
    HDFC Bank Limited
    Auditor
    M/s. Price Waterhouse, Chartered Accountants LLP
    Registrar
    Computer Age Management Services Limited
    SEBI code
    HSBC/O/H/MAA/24/01/0037