HSBC Fixed Term Review: Plans, NAV, Returns and Portfolio Analysis 2026

Offered as part of HSBC Mutual Fund's open-ended fund lineup, HSBC Fixed Term sits in the fixed maturity plan category and targets investors with a risk appetite and time horizon that match its mandate. The fund currently provides 29 active scheme codes, giving investors a choice across Direct and Other Plans and IDCW, Growth. Whether you are looking to reduce cost through a Direct Plan or want periodic payouts via an IDCW option, this scheme has a configuration worth exploring.

This review breaks down the key metrics for HSBC Fixed Term: NAV figures across all variants, how the Direct and Regular Plan expense ratios compare, what the returns picture looks like, and which type of investor this scheme is built for. All figures reflect publicly available data as of August 2026.

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HSBC Fixed Term: All Plans and Options

Here is a full reference of all active scheme codes under HSBC Fixed Term. The Direct Plan cuts out distributor commission, lowering the expense ratio versus the Regular Plan. IDCW options distribute available surplus periodically while Growth options compound it back into the NAV.

Scheme Code	Plan	Option	ISIN	NAV (Rs)	Date
139091	Direct Plan	Growth	INF336L01KX7	12.6358	18-Apr-2019
139365	Direct Plan	Growth	INF336L01LB1	12.5896	01-Jul-2019
141204	Direct Plan	Growth	INF336L01LX5	12.3266	29-Apr-2020
141469	Direct Plan	Growth	INF336L01MB9	12.3834	30-Jun-2020
142989	Direct Plan	Growth	INF336L01MN4	12.2882	03-May-2021
142740	Direct Plan	Growth	INF336L01MJ2	12.7291	03-May-2021
143050	Direct Plan	Growth	INF336L01MR5	12.3742	03-May-2021
143668	Direct Plan	Growth	INF336L01MV7	11.202	29-Jun-2021
144117	Direct Plan	Growth	INF336L01MZ8	11.1898	30-Jul-2021
144556	Direct Plan	Growth	INF336L01ND3	11.3493	30-Sep-2021
146102	Direct Plan	Growth	INF336L01NN2	12.8166	18-Apr-2022
146487	Direct Plan	Growth	INF336L01NR3	12.713	04-May-2022
147152	Direct Plan	Growth	INF336L01OB5	12.6185	15-Jun-2022
139092	Other Plan	IDCW	INF336L01LA3	10	18-Apr-2019
139093	Other Plan	Growth	INF336L01KZ2	12.5053	18-Apr-2019
139366	Other Plan	IDCW	INF336L01LE5	10	01-Jul-2019
139363	Other Plan	Growth	INF336L01LD7	12.4567	01-Jul-2019
141206	Other Plan	Growth	INF336L01LZ0	12.1978	29-Apr-2020
141467	Other Plan	Growth	INF336L01MD5	12.2853	30-Jun-2020
142086	Other Plan	Growth	INF336L01MH6	12.4433	08-Apr-2021
142990	Other Plan	Growth	INF336L01MP9	12.1877	03-May-2021
142739	Other Plan	Growth	INF336L01ML8	12.646	03-May-2021
143052	Other Plan	Growth	INF336L01MT1	12.2944	03-May-2021
143670	Other Plan	IDCW	INF336L01MY1	10	29-Jun-2021
144115	Other Plan	Growth	INF336L01NB7	11.0813	30-Jul-2021
144555	Other Plan	Growth	INF336L01NF8	11.2368	30-Sep-2021
146104	Other Plan	Growth	INF336L01NP7	12.7062	18-Apr-2022
146488	Other Plan	Growth	INF336L01NT9	12.6054	04-May-2022
147149	Other Plan	Growth	INF336L01OD1	12.5132	15-Jun-2022

Investment Objective and What the Fund Holds

The mandate of HSBC Fixed Term is to hold a fixed portfolio of debt securities maturing broadly in line with the scheme's tenure. In practice, the portfolio holds a portfolio locked to a defined maturity date, typically buy-and-hold.

SEBI's category rules mean the fund cannot stray significantly from this structure without approval, which gives investors a predictable sense of what they own. That predictability is especially useful when comparing this scheme against peers in the same category.

Performance and Returns

Returns for HSBC Fixed Term are best assessed across at least a full market cycle rather than over six or twelve months, since short-term numbers can be distorted by rate moves or equity swings. The Direct Plan version of the fund typically delivers a slightly higher return than the Regular Plan, driven entirely by the lower expense ratio rather than any difference in the underlying portfolio.

Between the Growth and IDCW options, the Growth variant builds NAV by reinvesting all gains. The IDCW variant distributes whatever surplus is available at the chosen frequency, which means its NAV grows more slowly on paper even though the underlying portfolio generates the same return. This distinction matters for tax planning: IDCW payouts are taxed as income, while Growth option gains are treated as capital gains.

Direct Plan vs Regular Plan

Choosing between the two plans comes down to one question: do you want an advisor or distributor to help manage your investment? If yes, the Regular Plan of HSBC Fixed Term makes sense, and its expense ratio will reflect the distributor's fee. If you are comfortable transacting directly with the AMC or through a registered investment advisor, the Direct Plan offers the same portfolio at a lower cost.

Over a decade, even a 0.5 percentage point difference in annual expense compounds meaningfully. Investors who switch from Regular to Direct Plan mid-way lose some of that benefit, so the decision is worth thinking through carefully at the outset.

Expense Ratio and Exit Load

Running costs for HSBC Fixed Term are deducted from the scheme's assets on a daily basis before the NAV is published. Investors do not pay these separately; the deduction simply means the NAV grows slightly more slowly than the gross portfolio return. The lower the expense ratio, the more of the portfolio's return the unit holder actually keeps.

Always check the latest scheme information document or the AMC website for the current expense ratio and exit load before transacting. Both can be revised by the AMC with prior notice to unit holders, and the figures in a factsheet from six months ago may not reflect today's structure.

Who Should Consider HSBC Fixed Term

Defined-horizon investors. FMPs work best for those who can stay invested for the full tenure and want more return visibility than an open-ended debt fund offers.

Conservative debt investors. The buy-and-hold structure limits interim mark-to-market volatility compared with actively managed duration funds.

Tax-planning investors. Longer-tenure FMPs have historically offered indexation benefits for investors in higher tax brackets, though applicable rules should always be confirmed before investing.

Key Risks Before You Invest

Illiquidity during tenure. FMPs are closed-ended. Secondary market liquidity is thin, so investors needing to exit before maturity may not get a fair price.

Credit risk. Even with a focus on quality paper, any issuer default or downgrade in the portfolio can affect NAV.

Reinvestment risk. Coupons received during the tenure are reinvested at prevailing yields, which may be lower in a falling rate environment.

How to Get Started with HSBC Fixed Term

Pick your variant first: Direct or Regular Plan, and Growth or IDCW option. Then confirm your KYC is active. First-time mutual fund investors need to complete KYC online through a SEBI-registered intermediary or the AMC's portal before any investment can be processed.

Once KYC is sorted, you can invest in the fund as a lump sum or via a Systematic Investment Plan. SIP contributions spread purchases across market levels, which is particularly useful for equity and hybrid categories where entry timing matters less over a long horizon.

After investing, set a quarterly calendar reminder to review the fund's latest factsheet. Check whether the NAV trajectory aligns with the category benchmark, and confirm the portfolio allocation has not drifted outside the expected range.

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Conclusion

With 29 plan and option variants and a representative NAV of Rs 12.6358 as on 18-Apr-2019, The fund gives investors meaningful flexibility to align cost structure and payout preference with their specific situation. The Moderate risk rating reflects the category mandate, and the gap between Direct and Regular Plan expense ratios rewards those who choose to transact independently. Review the latest scheme information document and consult a SEBI-registered advisor before committing.

Frequently Asked Questions on HSBC Fixed Term

What is the current NAV of HSBC Fixed Term?

Ans. The current NAV of the fund for the Direct Growth option is Rs 12.6358 as on 18-Apr-2019. NAV updates at the close of each business day.

How many plans and options does HSBC Fixed Term offer?

Ans. The fund offers 29 scheme codes covering Direct and Other Plans and IDCW, Growth.

What is the investment objective of HSBC Fixed Term?

Ans. The fund aims to hold a fixed portfolio of debt securities maturing broadly in line with the scheme's tenure, holding a portfolio locked to a defined maturity date, typically buy-and-hold.

What is the risk level of HSBC Fixed Term?

Ans. The fund carries a Moderate risk rating on the SEBI riskometer scale, reflecting its fixed maturity plan mandate.

Should I choose the Growth or IDCW option in HSBC Fixed Term?

Ans. Growth suits investors focused on long-term accumulation since gains compound back into the NAV. IDCW suits those who need periodic cash flow from the investment, with the understanding that payouts depend on distributable surplus and are not guaranteed.

What is the difference between the Direct and Regular Plan in HSBC Fixed Term?

Ans. The Direct Plan carries a lower expense ratio than the Regular Plan since it excludes distributor commission. Over long horizons, this cost difference compounds and can noticeably affect the final corpus.

What is the exit load on HSBC Fixed Term?

Ans. Exit load terms can vary and are revised periodically by AMCs. Check the latest scheme information document before redeeming.

Is HSBC Fixed Term suitable for SIP investment?

Ans. Yes. The fund can be invested through a Systematic Investment Plan, which spreads purchases across market levels and is especially useful for equity and hybrid categories with longer investment horizons.