HSBC Brazil Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
HSBC Brazil Fund Direct Growth Plan has a current NAV of ₹11.8542 as of 16 Sep 2026 and an AUM of ₹337 Cr. Its 1-year, 3-year and 5-year returns are 31.69%, 14.43% and 9.55% respectively, and the fund carries a High Risk label. In our view, this is a concentrated overseas fund-of-funds structure that can suit investors who are comfortable with sharp swings and want a Brazil-linked exposure rather than a broad local equity core.
The recent return trend looks strong, but the benchmark comparison is also telling: the fund has stayed well ahead of the Nifty 50 over the reported horizons. The portfolio is highly concentrated, with almost all assets in one underlying overseas fund, so returns are likely to be driven heavily by that single positioning and by Brazil-market movement.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.8542 as of 16 Sep 2026 |
| AUM | ₹337 Cr |
| Expense Ratio | 1.03% |
| Launch Date | 02 Jan 2013 |
| Min SIP | ₹1,000 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Fund of Fund |
| Exit Load | 1% on or before 1Y, Nil after 1Y |
| Fund Managers | Prakriti Banka |
The fund is managed by Prakriti Banka.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 9.74% | -3.66% |
| 3M | 10.75% | -3.71% |
| 1Y | 31.69% | -7.13% |
| 3Y | 14.43% | 5.82% |
| 5Y | 9.55% | 5.72% |
Short-term performance has been notably better than the benchmark. The 1-month and 3-month numbers are positive while the benchmark is negative in both periods, which tells us the fund has recently moved differently from the broader market reference and has been stronger over the immediate window.
The 1-year return is also much higher than the benchmark, showing a meaningful one-year recovery in the fund’s favour. That said, the 3-year and 5-year figures indicate a more measured long-term pace than the sharp 1-year result, so recent strength is more pronounced than the longer-run pattern.
Over 3 years and 5 years, the fund still stays ahead of the benchmark. The spread is not as dramatic as in the very recent period, but the longer record remains constructive. For us, that combination suggests a fund that has participated well in the underlying Brazil exposure while still showing enough volatility to justify a careful horizon-based reading.
The series pattern also supports that view. The fund has gone through meaningful ups and downs, but the medium-term direction improved after earlier softness, and the recent path is stronger than what the longer history alone would imply. That makes the current return profile look favourable, while still reminding investors that the ride has not been smooth.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD HSBC Brazil?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding HSBC Brazil? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| HSBC Brazil Fund Direct Growth Plan | 31.69% | 14.43% | 9.55% |
| Edelweiss Emerging Markets Opp Eq. Offshore Fund Direct Growth Plan | 45.84% | 27.6% | 11.51% |
| HSBC Global Emerging Markets Fund Direct Growth Plan | 42.32% | 27.43% | 12% |
| Kotak Global Emerging Market Overseas Equity Active FOF Direct Growth Plan | 37.03% | 25.62% | 12.08% |
| HSBC Asia Pacific (Ex Japan) DYF Direct Growth Plan | 32.04% | 26.36% | 14.86% |
| Invesco India – Invesco Pan European Equity FoF Direct Growth Plan | 31.97% | 20.54% | 15.5% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return is lower than several of the peer funds listed here, while its 3-year figure also trails the stronger overseas diversified names in this set. On the 5-year view, it remains below most of the peer figures shown, although the gap is narrower than in the 1-year comparison for some peers. That pattern suggests the fund has recently improved, but the longer record is still less compelling than the stronger peer entries on display.
For us, the short-term and longer-term comparisons tell slightly different stories. The fund has delivered a solid recent run, yet the peer set shows that other overseas funds have compounded at a faster pace across the same horizons. Investors comparing this fund with other overseas options may therefore focus less on the latest rebound and more on whether the Brazil-focused exposure is the specific outcome they want.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HSBC Gif Brazil Equity Fund | Overseas Mutual Fund Units | 97.79% |
| TREPS | Cash & Cash Equivalents and Net Assets | 2.4% |
The largest holding is HSBC Gif Brazil Equity Fund at 97.79%, which makes this structure extremely dependent on one underlying overseas fund. That kind of position size may give the fund a very direct link to Brazil-market movement, and it also means the fund’s day-to-day behavior is likely to be shaped far more by a single exposure than by a spread of holdings.
The weight drops sharply from the first holding to TREPS at 2.4%, so the portfolio is not built as a broad basket of many independent positions. With only two disclosed holdings, the structure is highly concentrated and the cash line is small, which could amplify the impact of the underlying overseas fund on returns.
Because the disclosed holdings sum to the entire portfolio, there is very little visible tail beyond the main exposure. In our view, that makes the fund easier to understand but also less diversified at the holding level. Investors who want a concentrated Brazil allocation may find that clarity useful, while those seeking a wider spread of positions may see the same feature as a trade-off.
Source data date: as of 16 Sep 2026
Who should invest
This fund is better aligned with investors who can handle High Risk swings and who have a longer horizon that gives the Brazil-linked exposure time to play out. The 1-year return is strong, but the 3-year and 5-year results show that the path has been uneven rather than linear, so a patient approach matters.
Its benchmark comparison is supportive, especially in the more recent periods, yet the peer set shows that stronger overseas alternatives have delivered more over the same horizons. The main trade-off is clear: investors get a concentrated, country-specific overseas allocation with the potential for sharp upside, but they also accept higher volatility and a much narrower holding base.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 1% on or before 1Y, Nil after 1Y.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of HSBC Brazil Fund Direct Growth Plan?
The current NAV is ₹11.8542 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 31.69% for 1 year, 14.43% for 3 years and 9.55% for 5 years.
How does the fund compare with the benchmark?
It has stayed ahead of the Nifty 50 across 1 month, 3 months, 1 year, 3 years and 5 years in the reported figures.
How concentrated is the portfolio?
It is highly concentrated, with 97.79% in HSBC Gif Brazil Equity Fund and 2.4% in TREPS.
What exit load applies?
The exit load is 1% on or before 1 year and nil after 1 year.
Who manages the fund?
The fund is managed by Prakriti Banka.
Bottom line
HSBC Brazil Fund Direct Growth Plan has a stronger recent return profile than its longer-term numbers alone suggest, and it has also stayed ahead of the benchmark on the reported horizons. Even so, the peer set shows that other overseas funds have been more powerful over the same periods. The portfolio is extremely concentrated, with nearly all assets in a single underlying overseas fund, so the outcome will likely remain closely tied to that exposure. It fits investors who accept High Risk and want a focused Brazil allocation rather than a diversified core holding.
Published on 18 September 2026 at 3:16 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.