HSBC Multi Asset Allocation Fund
Multi Asset Allocation · HSBC Asset Management (India) Private Ltd.
Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹81,310. Expect meaningful ups and downs on the way.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.HSBC Multi Asset Allocation Fund is a Multi Asset Allocation fund from HSBC Asset Management (India) Private Ltd.. It has a track record of about 2.5 years. As of the latest data it carries an RS rating of 92/99 (its recent momentum versus category peers). The current NAV is ₹14.25 (as of 2026-09-16).
Growth of ₹100 - last 3 years
HSBC Multi Asset Allocation Fund returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -1.43% | -2.41% |
| 3 months | 1.05% | 0.27% |
| 6 months | 6.86% | 3.31% |
| 1 year | 11.61% | 9.14% |
Its trailing one-year return is 11.61%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | HSBC Multi Asset Alloc | Benchmark |
|---|---|---|
| 2025 | +9.6% | +6.7% |
| 2026 | +5.7% | -5.8% |
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -18.69% | -13.03% |
| Worst drawdown (3Y) | -18.69% | -9.53% |
| Volatility (1Y) | 13.88% | 12.1% |
| Sharpe (3Y) | 0.57 | 0.74 |
| Sortino (3Y) | 0.88 | 1.49 |
| Beta (3Y) | 0.8 | 0.53 |
| Alpha (3Y) | 10.31% | 7.27% |
| Up capture | 95.9% | 66.13% |
| Down capture | 68.7% | 41.98% |
| Bull-market return | 43.6% | 28.84% |
| Bear-market return | -29.6% | -11.07% |
Timing matters more than people admit: the best possible 1-year stretch in HSBC Multi Asset Allocation Fund (starting 2025-02-28) gained 37.0%, while the worst (starting 2024-04-05) lost 1.2%. The worst peak-to-bottom fall HSBC Multi Asset Allocation Fund has ever put investors through is -18.69% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about -29.6% annualised, versus 43.6% in rising markets. It has captured roughly 95.9% of its benchmark's up-moves and 68.7% of its down-moves.
How HSBC Multi Asset Allocation Fund behaves when markets fall
When the market is falling (the Nifty below its 200-day average), HSBC Multi Asset Allocation Fund has historically returned about -29.6% annualised, versus roughly 43.6% when the market is rising. Its deepest fall on record is -18.69%. Right now it sits about 1.98% below its all-time high (last hit 2026-08-12). The real question isn't the average year - it's whether you could hold on through the worst one.
How HSBC Multi Asset Allocation Fund ranks in its category
Percentile versus its ~128 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
Rolling-return data isn't available for this fund yet.
What HSBC Multi Asset Allocation Fund holds
Its latest monthly portfolio disclosure. This is what your money actually owns.
Top holdings
Sector allocation
The top 10 holdings make up 34.9% of the portfolio, across 64 stocks. A higher concentration means the fund's fortunes ride on fewer names.
Portfolio overlap with similar funds
HSBC Multi Asset Allocation Fund shares Aditya Birla Sun Life Multi Asset Allocation Fund (12%), Nippon India Multi Asset Allocation Fund (11%), WhiteOak Capital Multi Asset Allocation Fund (8%) of its portfolio with these category peers (overlap = the slice of the two portfolios invested in the same stocks). The lower the overlap, the more genuinely different the portfolios are.
Who manages HSBC Multi Asset Allocation Fund - and how good are they?
HSBC Multi Asset Allocation Fund is managed by Mahesh Chhabria, Praveen Ayathan and Cheenu Gupta. Below is each manager's complete track record - every fund they currently run, judged on the same numbers as everything else on this page - so you can see whether this fund is in strong hands or is the outlier in a weak book.
Mahesh Chhabria's full record
Mahesh Chhabria currently runs 9 funds, across Banking and PSU Debt Fund, Conservative Hybrid Fund, Dynamic Asset Allocation or Balanced Advantage, FoF Domestic and more, with about ₹19,767 Cr under management. The book's average King Score is 80.4/100. Their strongest fund by King Score is HSBC Banking and PSU Debt Fund (94/100); HSBC Multi Asset Allocation Fund ranks #9 of 9 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HSBC Banking and PSU Debt Fund | 92 | 94 | 1.1% | 2.7% | 5.3% | 7.0% | n/a | n/a | 0.43 | 7.2% | -0.6% |
| 2 | HSBC Conservative Hybrid Fund | 74 | 91 | -0.5% | 3.3% | 2.4% | 8.8% | 7.5% | 8.0% | 0.44 | 9.1% | -10.4% |
| 3 | HSBC Balanced Advantage Fund | 83 | 85 | 1.3% | 4.3% | 1.5% | 9.1% | n/a | n/a | 0.36 | 12.0% | -8.7% |
| 4 | HSBC Money Market Fund | 86 | 84 | 2.0% | 3.5% | 6.6% | 7.3% | n/a | n/a | 1.43 | 7.4% | -0.1% |
| 5 | HSBC Multi Cap Fund | 68 | 82 | 2.5% | 14.1% | 6.4% | 17.1% | n/a | n/a | 0.63 | 22.7% | -20.1% |
| 6 | HSBC CRISIL IBX 50 50 Gilt Plus SDL Apr 2028 Index Fund | 73 | 75 | 1.5% | 2.5% | 5.8% | 7.4% | n/a | n/a | 0.83 | 8.0% | -2.4% |
| 7 | HSBC CRISIL IBX Gilt June 2027 Index Fund | 70 | 75 | 1.4% | 2.6% | 5.6% | 7.3% | n/a | n/a | 0.84 | 7.3% | -0.5% |
| 8 | HSBC Income Plus Arbitrage Active FOF | 46 | 57 | 1.3% | 2.7% | 5.4% | 7.3% | 6.1% | 6.5% | 0.43 | 6.8% | -5.2% |
| 9 | HSBC Multi Asset Allocation Fund (this page) | 92 | n/a | 1.1% | 6.9% | 11.6% | n/a | n/a | n/a | 0.57 | n/a | -18.7% |
Praveen Ayathan's full record
Praveen Ayathan currently runs 4 funds, across Dynamic Asset Allocation or Balanced Advantage, Index Funds, Multi Asset Allocation, with about ₹4,721 Cr under management. The book's average King Score is 59.7/100. Their strongest fund by King Score is HSBC Balanced Advantage Fund (85/100); HSBC Multi Asset Allocation Fund ranks #4 of 4 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HSBC Balanced Advantage Fund | 83 | 85 | 1.3% | 4.3% | 1.5% | 9.1% | n/a | n/a | 0.36 | 12.0% | -8.7% |
| 2 | HSBC NIFTY Next 50 Index Fund | 58 | 58 | -1.7% | 8.4% | 3.4% | 15.4% | n/a | n/a | 0.45 | 19.1% | -26.6% |
| 3 | HSBC NIFTY 50 Index Fund | 18 | 36 | -2.2% | -0.8% | -6.7% | 5.8% | n/a | n/a | -0.04 | 11.9% | -15.5% |
| 4 | HSBC Multi Asset Allocation Fund (this page) | 92 | n/a | 1.1% | 6.9% | 11.6% | n/a | n/a | n/a | 0.57 | n/a | -18.7% |
Cheenu Gupta's full record
Cheenu Gupta currently runs 4 funds, across Conservative Hybrid Fund, Large & Mid Cap Fund, Mid Cap Fund, Multi Asset Allocation, with about ₹22,489 Cr under management. The book's average King Score is 84.7/100. Their strongest fund by King Score is HSBC Conservative Hybrid Fund (91/100); HSBC Multi Asset Allocation Fund ranks #4 of 4 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | HSBC Conservative Hybrid Fund | 74 | 91 | -0.5% | 3.3% | 2.4% | 8.8% | 7.5% | 8.0% | 0.44 | 9.1% | -10.4% |
| 2 | HSBC Midcap Fund | 99 | 84 | 3.5% | 22.8% | 17.2% | 23.0% | n/a | n/a | 0.84 | 26.1% | -26.0% |
| 3 | HSBC Large & Mid Cap Fund | 93 | 79 | 1.8% | 15.7% | 8.3% | 16.9% | 13.9% | n/a | 0.56 | 21.2% | -36.1% |
| 4 | HSBC Multi Asset Allocation Fund (this page) | 92 | n/a | 1.1% | 6.9% | 11.6% | n/a | n/a | n/a | 0.57 | n/a | -18.7% |
A caveat worth keeping: funds often have co-managers, and results belong to the whole team and process rather than one person. A manager's book tells you about their range and consistency, not a guarantee of skill.
Cost & fund basics
| Detail | Value |
|---|---|
| Expense ratio (Direct) | 0.43% |
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹5000 |
| Fund size (AUM) | ₹2,979 Cr |
| Age | 2.5 years |
| Plan / Option | Direct · Growth |
| Benchmark | NIFTY500 |
How HSBC Multi Asset Allocation Fund compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| WhiteOak Capital Multi Asset Allocation Fund | 97 | 86 | 16.5% |
| Nippon India Multi Asset Allocation Fund | 87 | 81 | 18.3% |
| Aditya Birla Sun Life Multi Asset Allocation Fund | 79 | 73 | 15.4% |
| quant Multi Asset Allocation Fund | 89 | 70 | 21.4% |
| SBI Multi Asset Allocation Fund | 64 | 65 | 14.5% |
| Baroda BNP Paribas Multi Asset Fund | 43 | 61 | 13.8% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
HSBC Multi Asset Allocation Fund review: the bottom line
Related
Frequently asked questions
Is HSBC Multi Asset Allocation Fund a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, HSBC Multi Asset Allocation Fund scores RS 92/99 within its category, and its worst drawdown was -18.69%. Compare those against your needs and the peer table above.
What is the NAV of HSBC Multi Asset Allocation Fund today?
The latest NAV is ₹14.25 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
What is the expense ratio of HSBC Multi Asset Allocation Fund?
The Direct-plan expense ratio is 0.43% a year. The Direct plan is cheaper than the Regular plan because it carries no distributor commission - over decades that gap compounds meaningfully.
Who is the fund manager of HSBC Multi Asset Allocation Fund?
HSBC Multi Asset Allocation Fund is managed by Mahesh Chhabria; Praveen Ayathan; Cheenu Gupta; Mohd Asif Rizwi; Dipan Parikh; Mayank Chaturvedi.
Is HSBC Multi Asset Allocation Fund safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was -18.69% - ₹1 lakh briefly becoming about ₹81,310. As a hybrid fund, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is HSBC Multi Asset Allocation Fund tax-efficient / what about capital gains?
As a hybrid fund, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See HSBC Multi Asset Allocation Fund live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
- Interactive price chart with EMAs & RSI
- The RS line plotted against its benchmark
- Full holdings, sector mix & portfolio overlap
- Point-in-time backtester & portfolio doctor
- Compare it side-by-side with any peer
- Screen 1,600+ funds on the same metrics
Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.