HSBC Tax Saver Equity Fund Direct Growth NAV
AMFI: 120079ISIN: INF336L01EE0HSBC Mutual FundELSS funds
Last NAV ₹101.2359
Last NAV, 23 Jan 2026. The fund stopped declaring a NAV after this date.
Other plans: Regular Growth ₹89.8495 · Regular IDCW ₹32.8802 · Direct IDCW ₹37.1649
- Fund sizeAssets under management. The money the fund manages for all its investors, across every plan, at the end of the month. Assets under management in the glossary
- ₹244 CrDec 2025
- P/EP/E. What the fund pays for each rupee of yearly profit its companies earn: the total value of its shares divided by those companies' last four quarters of profit, each in proportion to what the fund holds. The profit leaves out one-off items (exceptional items and businesses sold or demerged), so one company's one-off gain cannot pull the fund's P/E down. A loss-making company lowers the profit. Shown when at least 80% of the fund's shares are counted. P/E in the glossary
- 34.831 Dec 2025
- Risk levelRiskometer. The fund's own risk label on SEBI's six-step scale, from Low to Very High, set from what the fund holds and reviewed every month. Riskometer in the glossary
- Very HighNov 2025
- HoldingsHoldings. The number of different securities in the fund's latest monthly portfolio: shares, bonds, money market paper and units of other funds, not cash, overnight lending or futures. Holdings in the glossary
- 5031 Dec 2025
- Offer openedNew fund offer opened. The day the fund's new fund offer opened for investors to apply; units are allotted when it closes. New fund offer opened in the glossary
- 17 Jan 2007
HSBC Tax Saver Equity Fund returns
Direct Growth plan
At the month end, 31 Dec 2025
| Over | FundTrailing return. The change in NAV from the start date to the latest NAV; over a year and longer, the yearly rate that would compound to the same change (CAGR). Trailing return: how it is worked out | BenchmarkBenchmark return. The change in the benchmark index's total return level over the same dates as the fund's return, as a yearly rate over a year and longer. Benchmark return in the glossary |
|---|---|---|
| 1 year | +1.37% | +7.76% |
| 3 years | +20.00% | +16.68% |
| 5 years | +18.48% | +16.87% |
| 10 years | +14.80% | +14.76% |
| Since launch | +15.20% | +14.35% |
Benchmark: Nifty 500 TRI. Both as the fund house states them for the month.
HSBC Tax Saver Equity Fund expense ratio and exit load
Per cent of the money invested, a year. Each month shows its last day filed; the parts were redefined from Apr 2026.
Total expense ratio, month by month
- Regular plan
- Direct plan
Direct plan highest 2.01%, Feb 2019.Direct plan lowest 1.24%, Feb 2020.
What the expense ratio is made of
| Part | Direct | Regular |
|---|---|---|
| Base expense ratioBase expense ratio. The part of the expense ratio that pays the fund house and the distributor, before brokerage, transaction costs, levies and GST. Base expense ratio in the glossary | 1.54% | 2.24% |
| For money from smaller towns | None | None |
| Exit load allowance | None | None |
| GST on fees | 0.26% | 0.26% |
Per cent of assets a year, filed for 23 Jan 2026. The parts add up to that day's total.
Buying and selling
- Exit load, at launchExit load. A charge, as a share of the amount redeemed, on units sold before a set period has passed since they were bought. Exit load in the glossary
- 0,2.5%
- Lock-inLock-in. The time after each purchase during which those units cannot be sold. Lock-in in the glossary
- 3 years
How HSBC Tax Saver Equity Fund is taxed
Each purchase, including each SIP instalment, is locked in for 3 years, so gains are always long-term and taxed at 12.5% above ₹1.25 lakh a year. Under the old tax regime only, up to ₹1.5 lakh a year invested can be deducted from taxable income, a limit shared with EPF and life insurance premiums.
IDCW payouts are added to the holder's income and taxed at the income tax slab rate. The fund deducts 10% tax at source for a resident when its payouts to them in a year counted from April to March are above ₹10,000.
Rules in force from 23 Jul 2024, checked 27 Oct 2026. Surcharge and cess are not included.
HSBC Tax Saver Equity Fund AUM
₹ crore, every plan of the fund together.
- Average assetsAverage assets under management. The money the fund managed, averaged over every day of the quarter, added up across its plans. Average assets under management: how it is worked out
- ₹59 CrQuarter to Mar 2026
- In the direct plansShare of assets in the direct plans. The direct plans' average assets for the quarter as a percentage of the fund's total; the rest is in the regular plans, bought through distributors. Share of assets in the direct plans in the glossary
- 4.4%Of the quarter's average
Average assets by quarter, by plan
- Regular plans
- Direct plans
Largest ₹302 Cr, quarter to Jun 2010.
Assets at each month end
Highest ₹261 Cr, Dec 2024.Lowest ₹111 Cr, Mar 2020.
HSBC Tax Saver Equity Fund portfolio
Portfolio disclosed for 31 Dec 2025.
Holdings on 31 Dec 2025
| Large, mid and small cap. Companies ranked by average market value over six months: the first 100 are large cap, the next 150 mid cap, the rest small cap, by the list in force for the portfolio's month. Large, mid and small cap in the glossary | Weight in the fund. The holding's market value on the portfolio date as a share of the fund's net assets. Weight in the fund in the glossary | Held since. The first month end of the fund's current run of holding this position; marked "or earlier" where that month is the fund's first portfolio on record or the first after a gap in its portfolios. Held since in the glossary | ||||
|---|---|---|---|---|---|---|
| ICICI BankBanks | Shares | Large cap5th | 6.88% | 16.76 | 1,24,800 | May 2023or earlier |
| Multi Commodity Exchange of IndiaCapital Markets | Shares | Mid cap249th | 6.04% | 14.72 | 13,220 | Sep 2023 |
| HDFC BankBanks | Shares | Large cap2nd | 5.64% | 13.75 | 1,38,700 | May 2023or earlier |
| Reliance IndustriesPetroleum Products | Shares | Large cap1st | 4.85% | 11.80 | 75,160 | May 2023or earlier |
| Bharti AirtelTelecom - Services | Shares | Large cap4th | 4.52% | 11.01 | 52,300 | Oct 2023 |
| InfosysIT - Software | Shares | Large cap6th | 4.14% | 10.10 | 62,500 | May 2023or earlier |
| TVS Motor CompanyAutomobiles | Shares | Large cap68th | 3.52% | 8.57 | 23,050 | May 2023or earlier |
| State Bank of IndiaBanks | Shares | Large cap7th | 3.46% | 8.43 | 85,800 | May 2023or earlier |
| PB FintechFinancial Technology (Fintech) | Shares | Mid cap127th | 3.01% | 7.32 | 40,100 | May 2024or earlier |
| KEI IndustriesIndustrial Products | Shares | Mid cap232nd | 3.00% | 7.31 | 16,400 | May 2023or earlier |
| Prudent Corporate Advisory ServicesCapital Markets | Shares | Small cap510th | 2.81% | 6.86 | 26,900 | May 2023or earlier |
| Axis BankBanks | Shares | Large cap18th | 2.73% | 6.64 | 52,300 | May 2023or earlier |
| Titan CompanyConsumer Durables | Shares | Large cap23rd | 2.54% | 6.20 | 15,300 | May 2023or earlier |
| Dixon Technologies (India)Consumer Durables | Shares | Mid cap104th | 2.32% | 5.64 | 4,660 | May 2023or earlier |
| Amber Enterprises IndiaConsumer Durables | Shares | Small cap310th | 2.19% | 5.33 | 8,350 | May 2023or earlier |
Weight is per cent of the fund's net assets; value in ₹ crore.
Cash and receivables on 31 Dec 2025
| Treps | 6.13% | 14.94 |
| Net Current Assets (including cash & bank balances) | −0.42% | −1.08 |
Weight is per cent of the fund's net assets; value in ₹ crore.
- Largest holdingLargest holding. The share of the fund in its single largest position, cash and futures not counted as positions. Largest holding in the glossary
- 6.88%ICICI Bank
- Top 5 holdingsTop 5 holdings. The share of the fund held in its five largest positions. Top 5 holdings in the glossary
- 27.93%
- Top 10 holdingsTop 10 holdings. The share of the fund held in its ten largest positions. Top 10 holdings in the glossary
- 45.06%
- Effective holdingsEffective number of holdings. The number of equal-sized positions that would be as concentrated as the fund's actual weights. Effective number of holdings in the glossary
- 29.9Taken over 94.29% of the fund
Asset allocation
Asset allocation. What the fund owns, by kind of asset, each as a share of its net assets; futures and options are shown beside it, not in it, since they are contracts rather than assets bought. Asset allocation in the glossary- Indian shares94.25%
- Preference shares0.04%
- Cash and receivables5.71%
Per cent of the fund's net assets.
Large, mid and small cap
- Large cap53.58%Category 54.63%
- Mid cap25.67%Category 17.48%
- Small cap20.75%Category 25.46%
Per cent of the fund's Indian shares. By the list for the six months to Jun 2025. Category is the average of 55 ELSS funds.
Sector allocation
Sector weight. The fund's shares grouped by the business each company is in, less the futures sold on them, each group as a share of the fund's net assets. Sector weight in the glossary15sectors
- Financial Services31.98%Category 31.80%
- Healthcare10.15%Category 7.19%
- Consumer Durables8.95%Category 3.81%
- Capital Goods5.66%Category 7.45%
- Information Technology5.10%Category 8.07%
- Oil Gas & Consumable Fuels4.85%Category 4.54%
- Automobile And Auto Components4.66%Category 7.05%
- Telecommunication4.52%Category 2.77%
- Fast Moving Consumer Goods3.93%Category 4.34%
- Consumer Services3.78%Category 4.88%
- Construction3.03%Category 2.84%
- Realty2.84%Category 1.22%
- Textiles2.10%Category 0.88%
- Chemicals1.76%Category 2.49%
- Media Entertainment & Publication0.94%Category 0.35%
Per cent of the fund's net assets, less the futures sold on its shares, Dec 2025. Category is the average of 55 ELSS funds. Category average. The sector's weight, less the futures sold on it, averaged over the 55 ELSS funds that disclosed a portfolio for Dec 2025. A fund holding none of the sector counts as 0.
Sector allocation month by month
| 13 months | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financial Services8 companies | 31.98% | 32.05% | 31.02% | 30.22% | 29.98% | 31.61% | 32.37% | 33.45% | 33.32% | 33.72% | 31.49% | 29.97% | |
| Healthcare9 companies | 10.15% | 10.02% | 10.02% | 10.43% | 11.65% | 12.00% | 11.00% | 10.80% | 10.65% | 11.33% | 10.86% | 10.98% | |
| Consumer Durables5 companies | 8.95% | 9.64% | 10.09% | 10.68% | 10.76% | 12.92% | 11.73% | 11.82% | 12.14% | 12.92% | 13.55% | 13.45% | |
| Capital Goods4 companies | 5.66% | 5.37% | 5.38% | 5.54% | 5.22% | 5.14% | 5.07% | 4.90% | 4.24% | 4.27% | 4.36% | 4.90% | |
| Information Technology2 companies | 5.10% | 4.96% | 4.70% | 4.67% | 4.79% | 4.76% | 5.53% | 5.65% | 5.63% | 6.10% | 8.54% | 8.87% | |
| Oil Gas & Consumable Fuels1 company | 4.85% | 4.79% | 4.54% | 4.27% | 4.23% | 4.18% | 4.45% | 4.37% | 4.49% | 4.23% | 4.29% | 4.02% | |
| Automobile And Auto Components2 companies | 4.66% | 4.37% | 4.38% | 4.39% | 4.12% | 3.44% | 3.55% | 3.52% | 3.53% | 3.34% | 3.29% | 3.31% | |
| Telecommunication1 company | 4.52% | 4.47% | 4.36% | 4.10% | 4.10% | 4.01% | 4.15% | 3.97% | 4.81% | 4.63% | 4.48% | 4.16% | |
| Fast Moving Consumer Goods3 companies | 3.93% | 3.87% | 3.63% | 3.61% | 3.67% | 3.46% | 3.29% | 3.46% | 3.19% | 3.15% | 3.08% | 2.95% | |
| Consumer Services3 companies | 3.78% | 3.83% | 4.06% | 4.27% | 4.21% | 4.10% | 3.74% | 3.21% | 1.79% | 0.76% | 0.91% | 0.87% | |
| Construction3 companies | 3.03% | 2.92% | 3.14% | 3.61% | 3.53% | 3.55% | 3.63% | 3.56% | 3.30% | 4.11% | 4.08% | 4.34% | |
| Realty2 companies | 2.84% | 2.77% | 2.77% | 2.66% | 2.64% | 2.61% | 2.73% | 2.73% | 2.74% | 2.84% | 2.87% | 2.83% |
Per cent of the fund's net assets, less the futures sold on its shares, at each month end, Jan 2025 to Dec 2025; the line runs from Dec 2024.
Bought and sold
Dec 2025 against Nov 2025, position by position.
Positions changed, month by month
- New
- Added
- Trimmed
- Sold out
- New positionsNew positions. Holdings in this month's portfolio that were not in the month before. New positions in the glossary
- 0
- Sold outSold out. Holdings in last month's portfolio that are gone from this one, other than a bond or deposit repaid on its due date. Sold out in the glossary
- 10.73% of the fund before
- Added toAdded to. Holdings with more units than the month before. Where the fund states no units, a weight that rose by more than a tenth. Added to in the glossary
- 0
- TrimmedTrimmed. Holdings with fewer units than the month before. Where the fund states no units, a weight that fell by more than a tenth. Trimmed in the glossary
- 0
- UnchangedUnchanged. Holdings with the same number of units as the month before. Their weight can still move with the price. Unchanged in the glossary
- 50
- Traded at leastTraded at least. The smaller of the weight bought in new positions and the weight sold out of old ones, cash left out: the least the fund must have bought and sold in the month. Traded at least in the glossary
- 0.00%
- Weight that movedWeight that moved. Half the sum of every position's change in weight between the two month ends, new and sold positions included; price moves alone raise it. Weight that moved in the glossary
- 2.85%
Changes in Dec 2025
| What changed. New: not held the month before. Added or trimmed: more or fewer units than the month before, or, where no units are stated, a weight that moved by more than a tenth. Sold out: held the month before, gone now. Matured: a bond or deposit whose repayment date fell between the two portfolios, so it was repaid rather than sold (one sold in its last days reads the same). What changed in the glossary | Change in weight. The holding's weight this month less its weight the month before, in percentage points; a price move alone changes it. Change in weight in the glossary | ||||
|---|---|---|---|---|---|
| REC | Sold out | – | 0.73% | −0.73 pts | −50,000 |
Weights are per cent of the fund's net assets; a change in weight is in percentage points.
Holdings month by month
| Holding | Jan 25 | Feb 25 | Mar 25 | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sep 25 | Oct 25 | Nov 25 | Dec 25 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 ICICI Bank | 6.61% | 7.14% | 7.43% | 7.57% | 7.38% | 7.12% | 7.40% | 7.24% | 7.01% | 6.82% | 7.05% | 6.88% |
 Multi Commodity Exchange of India | 4.49% | 4.39% | 4.34% | 4.29%Cut | 4.44% | 4.67%Cut | 4.07% | 4.05% | 4.30% | 4.96% | 5.42% | 6.04% |
 HDFC Bank | 4.98% | 5.71% | 5.60% | 5.67% | 5.52% | 5.48% | 5.60% | 5.48% | 5.50% | 5.56% | 5.68% | 5.64% |
 Reliance Industries | 4.02% | 4.29% | 4.23% | 4.49% | 4.37% | 4.45% | 4.18% | 4.23% | 4.27% | 4.54% | 4.79% | 4.85% |
 Bharti Airtel | 3.60% | 3.90% | 4.00% | 4.15% | 3.97% | 4.15% | 4.01% | 4.10% | 4.10% | 4.36% | 4.47% | 4.52% |
 Infosys | 6.53% | 6.58% | 4.33%Cut | 3.99% | 4.00% | 3.95% | 3.78% | 3.81% | 3.76% | 3.76% | 3.97% | 4.14% |
 TVS Motor Company | 2.40% | 2.44% | 2.46% | 2.62% | 2.62% | 2.65% | 2.59% | 3.13% | 3.30% | 3.28% | 3.31% | 3.52% |
 State Bank of India | 2.81% | 2.81% | 2.92% | 2.88% | 2.85% | 2.78% | 2.74% | 2.86% | 3.12% | 3.26% | 3.42% | 3.46% |
 PB Fintech | 3.42% | 3.25% | 3.28% | 3.23% | 3.37% | 2.89%Cut | 2.91% | 2.95% | 2.85% | 2.91% | 2.97% | 3.01% |
 KEI Industries | 2.79%Cut | 2.39% | 2.09% | 2.14% | 2.42% | 2.45% | 2.52% | 2.59% | 2.78% | 2.68% | 2.77% | 3.00% |
 Prudent Corporate Advisory Services | 2.31% | 2.11% | 2.77% | 2.53% | 3.25% | 2.88% | 3.15% | 3.13% | 2.89% | 2.79% | 2.71% | 2.81% |
 Axis Bank | 2.18% | 2.52% | 2.54% | 2.63% | 2.55% | 2.48% | 2.24% | 2.27% | 2.47% | 2.62% | 2.72% | 2.73% |
 Titan Company | 2.26% | 2.24% | 2.07% | 2.20% | 2.23% | 2.23% | 2.05% | 2.30% | 2.15% | 2.33% | 2.43% | 2.54% |
 Dixon Technologies (India) | 4.50%Cut | 4.70% | 4.13% | 3.96%Cut | 3.40% | 3.35% | 3.82% | 3.23%Cut | 3.17% | 2.93% | 2.77% | 2.32% |
 Amber Enterprises India | 4.13% | 4.01% | 4.25%Cut | 3.49% | 3.55% | 3.57% | 4.26% | 2.52%Cut | 2.82% | 2.72% | 2.44% | 2.19% |
Per cent of the fund's net assets at each month end, Jan 2025 to Dec 2025. Under it, the change on the fund's previous month. "After a gap" is a holding after a month with no portfolio on record, so when it was bought is not known; "Not filed" is one gone across such a gap.
Portfolio overlap
Funds holding the most of the same securities, by weight.
Closest funds in the category
| Portfolio overlap. The share of the two funds' portfolios that is the same: for every holding they share, the smaller of its two weights, added up. Portfolio overlap in the glossary | Shared holdings. The number of securities both funds hold, cash and futures left out. Shared holdings in the glossary | |
|---|---|---|
| Canara Robeco ELSS - Tax Saver FundCanara Robeco Mutual Fund | 42.05% | 20 |
| UTI - Master Equity Plan Unit SchemeUTI Mutual Fund | 40.98% | 16 |
| Navi ELSS Tax Saver Nifty 50 Index FundNavi Mutual Fund | 40.00% | 13 |
| Baroda BNP Paribas ELSS Tax Saver FundBaroda BNP Paribas Mutual Fund | 39.75% | 17 |
| Franklin India ELSS Tax Saver FundFranklin Templeton Mutual Fund | 39.18% | 14 |
| Sundaram ELSS Tax Saver FundSundaram Mutual Fund | 38.82% | 13 |
| Groww ELSS Tax Saver FundGroww Mutual Fund | 38.66% | 17 |
| ICICI Prudential ELSS - Tax Saver FundICICI Prudential Mutual Fund | 38.07% | 18 |
| Union ELSS Tax Saver FundUnion Mutual Fund | 37.99% | 19 |
| Aditya Birla Sun Life ELSS Tax Saver FundAditya Birla Sun Life Mutual Fund | 37.87% | 12 |
Portfolios for Dec 2025. Overlap is per cent of the portfolio the two funds hold in common.
HSBC Tax Saver Equity Fund dividend history
IDCW (income distribution cum capital withdrawal), once called a dividend: rupees per unit, paid to holders on the record date and taken out of the NAV. Paid by the fund's Direct IDCW plan.Every fund's payouts
Paid per unit, the latest payouts
- Paid per unitIDCW payout. Rupees paid out per unit to holders on the record date; the money comes out of the fund, so the plan's NAV falls by the same amount. IDCW payout in the glossary
Largest ₹3.00 a unit, Jan 2025.
Every payout
| IDCW yield. A payout as a share of the plan's NAV on the record date, before the NAV fell by the amount paid. IDCW yield in the glossary | NAV before | NAV after | ||
|---|---|---|---|---|
| 27 Jan 2025 | ₹3.00 | 7.82% | ₹38.3804 | ₹34.9020 |
| 25 Jan 2024 | ₹2.50 | 7.29% | ₹34.3114 | ₹32.4179 |
| 25 Jan 2023 | ₹2.25 | 7.90% | ₹28.4860 | ₹25.7216 |
All 3 payouts since 25 Jan 2023.
Changes to the fund
Newest first.
2021
- 31 DecBenchmarkBenchmark: BSE 200 TRI to Nifty 500 TRI
Risk level by month
| Months | Fund | BenchmarkBenchmark's risk level. The riskometer level of the fund's benchmark index for the same month, on the same six-step scale as the fund's own. Benchmark's risk level in the glossary |
|---|---|---|
| Oct 2021 to Nov 202550 months | Very High | Very HighNifty 500 TRI |
The riskometer at each month end, the fund's and its benchmark's. A month with none on record is left out.
Fund details
Objective
The Fund is an open ended Equity Linked Savings Scheme seeking to provide long term capitalappreciation by investing in a diversified portfolio of equity & equity related instruments ofcompanies across various sectors and industries, with no capitalisation bias. The Fund may alsoinvest in fixed income securities.
- BenchmarkBenchmark. The index the fund house chose to measure the fund against, in its total return form, with dividends added back. Benchmark in the glossary
- Nifty 500 TRI
- New fund offer
- 20 Nov 2006 to 19 Dec 2006
- Price at the offer
- ₹10 a unit
- Minimum at the offer
- ₹500
Plans and codes
| Plan | AMFI code | ISIN | First NAV |
|---|---|---|---|
| Direct Growth | 120079 | INF336L01EE0 | 2 Jan 2013 |
| Regular Growth | 104707 | INF336L01BA4 | 17 Jan 2007 |
| Direct IDCW | 120078 | INF336L01ER2 | 2 Jan 2013 |
| Regular IDCW | 104706 | INF336L01AZ3 | 17 Jan 2007 |
This fund
- Scheme information documentThe fund's objective, terms, costs and risks in full
Factsheet
- The Asset as on - September 2026HSBC Mutual Fund, Sep 2026
Statement of additional information
- SAI HSBC Mutual FundHSBC Mutual Fund, Oct 2026
Annual report
- Schemewise Abridged Annual Report for HSBC Conservative Hybrid Fund 2025-2026HSBC Mutual Fund, Mar 2026
- Schemewise Abridged Annual Report for HSBC Banking & PSU Debt Fund 2025-2026HSBC Mutual Fund, Mar 2026
- Schemewise Abridged Annual Report for HSBC Corporate Bond Fund 2025-2026HSBC Mutual Fund, Mar 2026
- Schemewise Abridged Annual Report for HSBC Credit Risk Fund 2025-2026HSBC Mutual Fund, Mar 2026
Riskometer disclosure
- Riskometer Changes F.Y. 2025-26HSBC Mutual Fund, Mar 2026
Portfolio overlap disclosure
- Portfolio Overlap disclosure Sep 2026HSBC Mutual Fund, Sep 2026