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

HSBC Value Fund Direct Growth Plan has a NAV of ₹125.8693 as of 17 Sep 2026 and manages ₹15,372 Cr. Its 1-year, 3-year and 5-year returns are 1.77%, 14.77% and 15.32% respectively, and the fund sits in the High Risk category. Our view is that the fund has still delivered a solid longer-term compounding pattern, but the recent 1-year outcome has been much softer than its medium- and longer-term record.

The portfolio is led by financials, with banks taking the largest individual weights, so the fund may suit investors who are comfortable with equity volatility and want a value-oriented approach that can hold through uneven periods. Its recent behaviour has been weaker than its 3-year and 5-year trends, so the main question is whether an investor can stay invested through periods when shorter-term returns lag the longer arc.

Quick facts

Particular	Details
NAV	₹125.8693 as of 17 Sep 2026
AUM	₹15,372 Cr
Expense Ratio	0.76%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	Nil upto 10% of units and 1% for above the limits on or before 1Y, Nil after 1Y
Fund Managers	Venugopal Manghat

The fund is managed by Venugopal Manghat.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.26%	-3.66%
3M	-2.28%	-3.71%
1Y	1.77%	-7.13%
3Y	14.77%	5.82%
5Y	15.32%	5.72%

The fund’s short-term trend has been softer than its longer history, but it has still held up a little better than the benchmark over the recent one-month and three-month windows. That matters because the last few months were not a smooth upward move; the pattern suggests intermittent pullbacks rather than a steady climb.

Over the 1-year period, the fund stayed positive while the benchmark was negative, which points to better resilience than the index in a difficult stretch. The 3-year and 5-year figures are more important for a value strategy, and both show a clear edge over the benchmark. In our view, that longer record is the more meaningful signal here because it shows the fund has been able to compound at a higher pace across different market phases.

The recent dip does not erase the broader trend, but it does tell us the fund is not immune to short-term swings. For investors, that means the case for the scheme rests less on near-term consistency and more on whether its style can continue to deliver over a full market cycle.

Against the Nifty 50, the fund has been ahead on every reported horizon. The gap is especially noticeable over 3 years and 5 years, where the benchmark’s returns have been much lower. That combination of weaker recent momentum and stronger medium-term compounding is typical of an equity fund that can move around but still create value for patient capital.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD HSBC Value?

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 Value? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
HSBC Value Fund Direct Growth Plan	1.77%	14.77%	15.32%
LIC MF Value Fund Direct Growth Plan	17.5%	15.81%	13.33%
Quant Value Fund Direct Growth Plan	14.59%	19.39%	Data not available
Aditya Birla SL Value Fund Direct Growth Plan	10.2%	13.21%	13.75%
Mahindra Manulife Value Fund Direct Growth Plan	8.65%	Data not available	Data not available
Axis Value Fund Direct Growth Plan	6.14%	17.07%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return trails the stronger peer readings in this set, especially LIC MF Value Fund Direct Growth Plan and Quant Value Fund Direct Growth Plan. At the same time, its 3-year and 5-year figures are still competitive, and its 5-year number is ahead of the peers here with available long-horizon data.

Our reading is that the short-term picture is mixed, but the longer-term picture is sturdier. That split matters: one peer has a very strong 1-year showing, while another has a stronger 3-year figure, yet HSBC Value Fund Direct Growth Plan keeps a balanced record across the medium and long term. For investors comparing only the available return figures, the fund looks more consistent over longer horizons than many peers, even if its latest year is not the most striking in the group.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Limited	Bank	4.20%
HDFC Bank Limited	Bank	4.15%
Karur Vysya Bank Limited	Bank	3.57%
The Federal Bank Limited	Bank	3.37%
State Bank of India	Bank	3.17%
TREPS	Cash & Cash Equivalents and Net Assets	2.94%
Reliance Industries Limited	Crude Oil	2.79%
PNB Housing Finance Limited	Finance	2.66%
Finolex Cables Ltd	Electricals	2.43%
Balrampur Chini Mills Limited	Agri	2.32%

The top 10 holdings account for approximately 31.6% of the portfolio.

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

The largest position, ICICI Bank Limited, stands at 4.2%, which is meaningful but not excessive for a single stock in an equity portfolio. The drop from the first holding to the tenth is noticeable, moving from 4.2% to 2.32%, so the portfolio is not dominated by one outsized bet.

Even so, the combined weight of the ten largest holdings is 31.6%, and the fund discloses 67 holdings in total. That combination suggests the scheme is not narrowly built around only a handful of names, though the banking tilt at the top could still have a greater influence on near-term movements than the smaller positions lower down the list.

From an investor’s perspective, this looks like a portfolio with a meaningful core in financials and a longer tail beyond the top names. That may help spread stock-specific risk, but it also means returns can depend on how the larger banking positions behave over time.

Source data date: as of 17 Sep 2026

Who should invest

This fund is better suited to investors who can handle High Risk equity volatility and who are prepared to stay invested for a longer horizon. The 1-year return has been modest, but the 3-year and 5-year numbers are stronger and show that the strategy has been able to compound more effectively over time than in the latest year.

The key trade-off is that the fund may lag in certain shorter stretches even when the broader style remains intact. Investors who want benchmark-beating potential and are comfortable with a portfolio that leans heavily on banks may find the pattern understandable, while those who want smoother short-term results may not be comfortable with the swings.

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 upto 10% of units and 1% for above the limits on or before 1Y, Nil after 1Y.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of HSBC Value Fund Direct Growth Plan?
The NAV is ₹125.8693 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 1.77% for 1 year, 14.77% for 3 years and 15.32% for 5 years.

How has the fund done versus the benchmark?
It has been ahead of the Nifty 50 on all reported horizons, including a positive 1-year return while the benchmark was negative.

How does it compare with the peer funds shown here?
Its 1-year return is lower than some peers, but its 5-year return is stronger than the peers shown with available 5-year figures. The 3-year picture is also competitive even though another peer has a higher 3-year figure.

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

Who manages the fund and what is the exit load?
The fund is managed by Venugopal Manghat. The exit load is nil upto 10% of units and 1% for above the limits on or before 1Y, and nil after 1Y.

Bottom line

HSBC Value Fund Direct Growth Plan shows a clear contrast between its softer recent stretch and stronger medium- to long-term compounding. It has also stayed ahead of the benchmark across the periods shown, while the peer comparison suggests its longer-horizon record is more compelling than its latest year. The portfolio is meaningfully tilted toward banks, which may add style sensitivity but also gives the fund a clear character. In our view, it fits investors who can tolerate High Risk equity swings and who value a longer investment horizon.

Published on 18 September 2026 at 3:23 PM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.