HSBC Credit Risk Fund - Regular Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

No of Debt Holding 33 (Category Avg - 35.50) | Modified Duration 1.68 Years (Category Avg - 2.14)| Yield to Maturity 7.50% (Category Avg - 7.58%)

Portfolio Summary (as on 31st Oct,2025)

Security Type	% Weight	Category Average
GOI	13.41%	14.87%
CD	8.92%	1.35%
CP	0.90%	0.06%
NCD & Bonds	71.04%	70.97%
PTC	5.03%	1.43%

Category - Credit Risk Fund

Security Type	% Weight	Category Average
Government Backed	13.41%	14.87%
Low Risk	85.89%	65.80%
Moderate Risk	0.00%	0.00%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Category - Credit Risk Fund

Debt holding in Portfolio (as on 31st Oct,2025)

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - Tata Housing Development Company Ltd.	NCD & Bonds	Residential, commercial projects	CARE AA	CARE	374.20	6.99%	3.50 k
Bond - Nirma Ltd.	NCD & Bonds	Household products	AA	CRISIL	267.63	5.00%	2.50 k
Bond - Rural Electrification Corporation Limited	NCD & Bonds	Financial institution	AAA	CRISIL	266.36	4.98%	2.50 k
Bond - ONGC Petro-Additions Ltd.	NCD & Bonds	Petrochemicals	LAA+	ICRA	259.82	4.86%	2.50 k
Bond - Aditya Birla Renewables Ltd.	NCD & Bonds	Power generation	AA	CRISIL	256.13	4.79%	2.50 k
Bond - Axis Bank Ltd.	CD	Private sector bank	P1+	CRISIL	240.26	4.49%	500.00
Bond - Bank Of Baroda	CD	Public sector bank	F1+	FITCH	236.85	4.43%	500.00
Bond - Tata Projects Ltd.	NCD & Bonds	Civil construction	AA	FITCH	204.59	3.82%	2.00 k
Bond - Govt of India	GOI	Other			203.35	3.80%	20.00 L
Bond - Piramal Finance Ltd.	NCD & Bonds	Housing finance company	CARE AA	CARE	184.19	3.44%	1.70 k
Bond - Vedanta Ltd.	NCD & Bonds	Diversified metals	LAA	ICRA	161.27	3.01%	1.50 k
Bond - Dhruva Trust	PTC	Ptc	LAAA	ICRA	160.96	3.01%	23.00
Bond - Govt of India	GOI	Other			156.42	2.92%	15.00 L
Bond - Aadhar Housing Finance Ltd.	NCD & Bonds	Housing finance company	AA	FITCH	156.42	2.92%	1.50 k
Bond - Delhi International Airport Ltd.	NCD & Bonds	Airport & airport services	LAA	ICRA	156.13	2.92%	1.50 k
Bond - Tata Projects Ltd.	NCD & Bonds	Civil construction	AA	FITCH	156.05	2.92%	1.50 k
Bond - Vedanta Ltd.	NCD & Bonds	Diversified metals	AA	CRISIL	155.91	2.91%	1.50 k
Bond - Aditya Birla Real Estate Ltd.	NCD & Bonds	Paper & paper products	AA	CRISIL	155.52	2.91%	1.50 k
Bond - Mas Financial Services Ltd.	NCD & Bonds	Non banking financial company (nbfc)	CARE AA-	CARE	154.20	2.88%	1.50 k
Bond - Aadhar Housing Finance Ltd.	NCD & Bonds	Housing finance company	LAA	ICRA	153.74	2.87%	1.50 k
Bond - Aditya Birla Digital Fashion Ventures Ltd.	NCD & Bonds	Speciality retail	AA-	CRISIL	153.34	2.87%	1.50 k
Bond - Jtpm Metal Traders Pvt Ltd.	NCD & Bonds	Trading - metals	AA	CRISIL	152.87	2.86%	1.50 k
Bond - IIFL Finance Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AA	CRISIL	122.08	2.28%	1.20 k
Bond - Vajra 011 Trust	PTC	Ptc	LAAA	ICRA	108.14	2.02%	22.00
Bond - Govt of India	GOI	Other			103.67	1.94%	10.00 L
Bond - Indostar Capital Finance Private Ltd.	NCD & Bonds	Non banking financial company (nbfc)	CARE AA-	CARE	103.74	1.94%	1.00 k
Bond - Aditya Birla Real Estate Ltd.	NCD & Bonds	Paper & paper products	AA	CRISIL	102.81	1.92%	1.00 k
Bond - Govt of India	GOI	Other			101.81	1.90%	10.00 L
Bond - Govt of India	GOI	Other			100.16	1.87%	10.00 L
Bond - Nirma Ltd.	NCD & Bonds	Household products	AA	CRISIL	53.08	0.99%	500.00
Bond - Govt of India	GOI	Other			52.29	0.98%	5.00 L
Bond - Piramal Finance Ltd.	NCD & Bonds	Non banking financial company (nbfc)	CARE AA	CARE	51.47	0.96%	500.00
Bond - Indostar Capital Finance Private Ltd.	CP	Non banking financial company (nbfc)	P1+	CRISIL	48.39	0.90%	100.00