HSBC Consumption Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

HSBC Consumption Fund Direct Growth Plan is at ₹15.7976 as of 17 September 2026, with scheme AUM of ₹1,816 Cr. Its 1-year, 3-year and 5-year returns are 0.21%, 15.97% and Data not available, and the fund sits in the High Risk category.

Our view is that this is a consumption-theme equity fund with a mixed near-term track record and a better 3-year run than its benchmark. The portfolio is led by consumer, telecom, automobile and healthcare names, so returns may depend more on domestic spending trends than on broad market moves.

Quick facts

Particular	Details
NAV	₹15.7976 as of 17 Sep 2026
AUM	₹1,816 Cr
Expense Ratio	0.78%
Launch Date	31 Aug 2023
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	Nil upto 10% of units and 1% for remaining units on or before 1%, Nil after 1Y
Fund Managers	Anish Goenka

The fund is managed by Anish Goenka.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.25%	-3.66%
3M	6.5%	-3.71%
1Y	0.21%	-7.13%
3Y	15.97%	5.82%
5Y	Data not available	Data not available

The recent pattern is uneven but better than it first appears. The fund was slightly negative over one month, but it recovered over three months and stayed positive over one year. That tells us the strategy can move around sharply in the short run, yet it has still held up better than the benchmark across every displayed period except the unavailable 5-year slot.

The 3-year figure is the clearest part of the record. At 15.97%, the fund is well ahead of the benchmark’s 5.82%, which suggests the portfolio’s consumer-led positioning has worked better over a fuller cycle than over the latest 12 months. The 1-year return of 0.21% is still positive, but it shows that the stronger multi-year picture has not carried through smoothly into the most recent year.

The benchmark itself has been weak over the same windows, which means part of the fund’s relative strength comes from avoiding the benchmark’s softer stretch. Even so, the fund’s own 1M and 3M swings show that it is not a steady, low-volatility line. Our view is that investors should read the 3-year outcome as more meaningful than the last month alone, while still allowing for shorter periods of uneven performance.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD HSBC Consumption?

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

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

Fund	1Y return	3Y return	5Y return
HSBC Consumption Fund Direct Growth Plan	0.21%	15.97%	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.8%	36.32%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	25.31%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	25.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	24.51%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	22.75%	Data not available	Data not available

On the latest 1-year figure, this fund trails the stronger peer returns by a wide margin, especially against the far higher 1-year numbers in the healthcare and sector-focused comparators. The longer view is more balanced: its 3-year return is ahead of the only peer in this set with a 3-year figure, while several peers have no 3-year data available. That means the short-term comparison looks weak, but the medium-term comparison looks more constructive.

For our view, the peer set tells two different stories. In the short run, the fund has not matched the higher-return peer strategies in this group. Over 3 years, however, it has delivered a more solid result than the available peer comparator, which supports the idea that this scheme can participate when the consumption theme works, even if its recent pace has been slower.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eternal Limited	Retailing	6.7%
Bharti Airtel Limited	Telecom	5.33%
Radico Khaitan Limited	Alcohol	4.79%
Titan Company Limited	Diamond & Jewellery	4.39%
Maruti Suzuki India Limited	Automobile & Ancillaries	4.36%
Ather Energy Limited	Domestic Equities	3.66%
TVS Motor Company Limited	Automobile & Ancillaries	3.15%
Global Health Limited	Healthcare	3.13%
Mahindra & Mahindra Limited	Automobile & Ancillaries	3.01%
Varun Beverages Limited	FMCG	2.82%

The largest holding, Eternal Limited, is 6.7%, which is meaningful but not excessive on its own. The weight then steps down gradually through Bharti Airtel, Radico Khaitan, Titan and Maruti Suzuki, so the top of the book is spread across several consumer-linked names rather than resting on one dominant position.

The 10 disclosed holdings together account for 41.34% of the portfolio, leaving a long tail across the remaining disclosed positions. That mix suggests the fund may be diversified within its theme, even though the largest positions still look likely to have greater influence on returns than the smaller satellite holdings. With 49 total disclosed holdings, the portfolio appears broad enough to avoid a single-stock story, but still focused enough to keep theme exposure visible.

To see all holdings, visit the HSBC Consumption Fund Direct Growth Plan page

Source data date: as of 17 Sep 2026

Who should invest

This fund may suit investors who are comfortable with High Risk equity exposure and can stay invested for a longer horizon. Its 3-year return is clearly better than the benchmark, but the 1-year result is modest and the short-term pattern has been choppy, so patience matters.

The main trade-off is that a consumption-focused portfolio can participate strongly when domestic spending themes are working, yet it may lag during weaker stretches or when the theme loses momentum. Investors looking for a steadier market-tracking outcome may find the swings harder to accept, while those who want theme exposure and can tolerate uneven near-term results may see the fit as more reasonable.

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

Nil up to 10% of units if sold on or before 1 year; 1% for remaining units if sold on or before 1 year; no exit load after the holding period.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of HSBC Consumption Fund Direct Growth Plan?
The NAV is ₹15.7976 as of 17 September 2026.

What are the 1-year, 3-year and 5-year returns?
The 1-year return is 0.21%, the 3-year return is 15.97%, and the 5-year return is Data not available.

How does the fund compare with its benchmark?
It has outpaced the benchmark over 3 years and 1 year, while the benchmark has been weaker over the same periods. The fund’s short-term path has still been uneven.

How does it compare with peer funds on available return data?
Its 1-year return is much lower than the stronger peer figures shown here, but its 3-year return is higher than the peer with an available 3-year figure in this set.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?
Anish Goenka manages the fund. The exit load is nil up to 10% of units if sold on or before 1 year, 1% for remaining units if sold on or before 1 year, and no exit load after the holding period.

Bottom line

HSBC Consumption Fund Direct Growth Plan has a mixed recent record but a stronger 3-year outcome, which suggests the strategy has worked better over a fuller cycle than in the latest year. Compared with the peer figures available here, the short-term return lags several alternatives, while the medium-term result is more encouraging. The portfolio is anchored by consumer, telecom and automobile names, so it remains a theme-led equity fund with High Risk characteristics and a clear dependence on domestic spending trends.

Published on 18 September 2026 at 1:35 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.