HSBC Asia Pacific (Ex Japan) DYF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

HSBC Asia Pacific (Ex Japan) DYF Direct Growth Plan closed at ₹40.5995 as of 09 Sep 2026, with an AUM of ₹85 Cr. Its 1-year, 3-year and 5-year returns are 39.66%, 28.4% and 15.47% respectively, and the scheme carries a High Risk label.

Our view is that this is a compact overseas fund-of-fund with strong recent and longer-term compounding, but also meaningful swings along the way. The portfolio is heavily concentrated in one overseas mutual fund unit, so the outcome is likely to remain closely tied to that underlying exposure rather than to a broad basket.

Quick facts

Particular	Details
NAV	₹40.5995 as of 09 Sep 2026
AUM	₹85 Cr
Expense Ratio	1.01%
Launch Date	24 Feb 2014
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	Sonal Gupta

The fund is managed by Sonal Gupta.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	3.92%	-4.06%
3M	5.07%	1.37%
1Y	39.66%	-7.31%
3Y	28.4%	6.07%
5Y	15.47%	5.91%

The short-term picture is clearly better than the benchmark. Over 1 month and 3 months, the fund stayed positive while the benchmark was weaker over the 1-month span and only mildly positive over 3 months. That suggests the strategy has been able to hold up through a mixed recent market phase.

The longer view is also constructive. The 1-year return is very strong, and the 3-year and 5-year numbers remain comfortably above the benchmark. Our reading is that this is not a one-period spike; the fund has shown sustained compounding over multiple horizons, even if the path has not been smooth.

The time pattern points to noticeable volatility rather than a straight line. There were phases of weakness and recovery across the three- and five-year windows, but the overall direction improved materially over time. For investors, that means the fund has rewarded patience, yet it is still best read as a risk-sensitive overseas allocation rather than a steady domestic-style equity substitute.

Compared with the benchmark, the fund is ahead across every tracked horizon here. The gap is especially wide over 1 year, while the 3-year and 5-year lead is smaller but still clear. That combination gives the fund a stronger return profile than the benchmark without removing the need to accept sharp interim moves.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD HSBC Asia Pacific (Ex Japan) DYF?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
HSBC Asia Pacific (Ex Japan) DYF Direct Growth Plan	39.66%	28.4%	15.47%
Edelweiss Emerging Markets Opp Eq. Offshore Fund Direct Growth Plan	55.7%	29.52%	11.97%
HSBC Global Emerging Markets Fund Direct Growth Plan	52.99%	29.63%	12.76%
Kotak Global Emerging Market Overseas Equity Active FOF Direct Growth Plan	46%	27.35%	12.66%
HSBC Brazil Fund Direct Growth Plan	36.09%	16.75%	9.97%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return trails two peer funds in this set, while its 3-year return stays close to the stronger overseas peers and its 5-year return is the best among the listed funds. That mix tells a balanced story: the recent run has not led the pack, but the longer-term record remains competitive and better aligned with the stronger end of the comparison set.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HSBC Gif Asia Pacific Fund	Overseas Mutual Fund Units	96.99%
TREPS	Cash & Cash Equivalents and Net Assets	5.22%

The largest holding is HSBC Gif Asia Pacific Fund at 96.99%, which is overwhelmingly dominant. That means the fund’s movement may be driven primarily by one underlying overseas mutual fund unit, with cash and cash equivalents playing only a small supporting role.

The drop from the first holding to the second is steep, which tells us the portfolio is not spread across many independent positions. With just two disclosed holdings and a combined disclosed weight of 100%, this is a very concentrated structure rather than a diversified multi-holding basket.

That concentration may help the fund stay closely aligned with its stated overseas mandate, but it can also make performance more dependent on the fortunes of a single underlying exposure. Investors who prefer broad internal diversification may find this structure less comfortable than a fund with a longer tail of positions.

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who can accept High Risk and are comfortable with overseas equity-style swings. The 1-year return is much stronger than the benchmark, while the 3-year and 5-year numbers also stay ahead, so the fund has shown that it can compound through different phases rather than only in one short burst.

The trade-off is concentration. Because one underlying fund unit dominates the portfolio, the outcome may move sharply if that underlying exposure turns volatile. We think the better fit is an investor with a longer horizon who wants an overseas growth allocation and can tolerate uneven short-term returns.

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 09 Sep 2026

Frequently asked questions

What is the current NAV of HSBC Asia Pacific (Ex Japan) DYF Direct Growth Plan?

The current NAV is ₹40.5995 as of 09 Sep 2026.

How has HSBC Asia Pacific (Ex Japan) DYF Direct Growth Plan performed over 1, 3 and 5 years?

Its returns are 39.66% over 1 year, 28.4% over 3 years and 15.47% over 5 years. That places the recent and longer-term record on the stronger side.

How does the fund compare with the benchmark?

It has outperformed the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The widest gap is at the 1-year point.

How does the fund compare with the peer funds listed here?

The fund’s 1-year return is below some overseas peers in this set, while its 5-year return is the strongest among the listed funds. The 3-year figure is close to the better peer numbers.

Does the fund have a minimum SIP amount?

No minimum SIP amount is shown for this fund in the facts section, so we do not state one here.

What are the portfolio concentration and exit-load features?

The portfolio is highly concentrated, with HSBC Gif Asia Pacific Fund at 96.99% and TREPS at 5.22%. The exit load is 1% on or before 1 year and nil after 1 year.

Bottom line

This fund has a stronger recent and long-term return record than its benchmark, and its 3-year and 5-year results support the view that the compounding has been durable rather than accidental. Against the peer set shown here, the 1-year number is not the strongest, but the 5-year figure stands out on the positive side. The main caution is portfolio concentration: one underlying overseas fund unit dominates the exposure, so investors must be comfortable with a High Risk profile and a less diversified structure.

Published on 11 September 2026 at 1:14 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.