HSBC India Export Opportunities 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.

Portfolio Turnover Ratio : 25.00%. Category average turnover ratio is 153.01%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 97.82% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 97.82%

No of Stocks : 49 (Category Avg - 44.44) | Large Cap Investments : 30.89%| Mid Cap Investments : 8.65% | Small Cap Investments : 18.79% | Other : 39.49%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	49	43.41
Top 5 Stock Weight	21.73%	32.46%
Top 10 Stock Weight	38.37%	49.59%
Top 3 Sector Weight	27.09%	43.5%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	66358.09	72450.77
Holdings in large cap stocks	30.89%	37.14%
Holdings in mid cap stocks	8.65%	14.47%
Holdings in small cap stocks	18.79%	13.1%

Category - Sectoral/Thematic

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Avalon Technologies Ltd.	Other electrical equipment	781.1	4.95%	0.85%	4.95% (Oct 2025)	1.97% (Jan 2025)	6.56 L	0.00
Reliance Industries Ltd.	Refineries & marketing	743.1	4.71%	0.27%	4.71% (Oct 2025)	2.82% (Dec 2024)	5.00 L	-0.27 L
Larsen & Toubro Ltd.	Civil construction	655.4	4.15%	0.47%	4.15% (Oct 2025)	3.53% (Dec 2024)	1.63 L	0.00
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	631.8	4.00%	0.20%	4.01% (Apr 2025)	3.02% (Dec 2024)	3.08 L	-0.19 L
TVS Motor Company Ltd.	2/3 wheelers	618.7	3.92%	-0.30%	4.22% (Sep 2025)	2.84% (Dec 2024)	1.76 L	-0.22 L
eClerx Services Ltd.	Business process outsourcing (bpo)/ knowledge process outsourcing (kpo)	603.1	3.82%	0.65%	3.82% (Oct 2025)	1.64% (Apr 2025)	1.28 L	0.00
Hindalco Industries Ltd.	Aluminium	513.9	3.26%	0.20%	3.26% (Oct 2025)	2.11% (Dec 2024)	6.06 L	-0.43 L
HDFC Bank Ltd.	Private sector bank	508.3	3.22%	0.19%	3.22% (Oct 2025)	2.46% (Dec 2024)	5.15 L	0.00
GE T&D India Ltd.	Heavy electrical equipment	506	3.21%	-0.25%	3.48% (Aug 2025)	1.83% (Feb 2025)	1.67 L	-0.22 L
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	493.5	3.13%	0.01%	4.26% (Apr 2025)	3.1% (Aug 2025)	2.92 L	-0.25 L

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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Sector
M-Cap

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Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
Avalon Technologies Ltd.	Other electrical equipment	4.95	781.1	4.95%	0.85%	4.95% (Oct 2025)	1.97% (Jan 2025)	6.56 L	0.00	Other	39.49
Reliance Industries Ltd.	Refineries & marketing	4.71	743.1	4.71%	0.27%	4.71% (Oct 2025)	2.82% (Dec 2024)	5.00 L	-0.27 L	Large Cap	30.89
Larsen & Toubro Ltd.	Civil construction	4.15	655.4	4.15%	0.47%	4.15% (Oct 2025)	3.53% (Dec 2024)	1.63 L	0.00	Large Cap	30.89
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	4	631.8	4.00%	0.20%	4.01% (Apr 2025)	3.02% (Dec 2024)	3.08 L	-0.19 L	Large Cap	30.89
TVS Motor Company Ltd.	2/3 wheelers	5.52	618.7	3.92%	-0.30%	4.22% (Sep 2025)	2.84% (Dec 2024)	1.76 L	-0.22 L	Mid Cap	8.65
eClerx Services Ltd.	Business process outsourcing (bpo)/ knowledge process outsourcing (kpo)	3.82	603.1	3.82%	0.65%	3.82% (Oct 2025)	1.64% (Apr 2025)	1.28 L	0.00	Small Cap	18.79
Hindalco Industries Ltd.	Aluminium	4.97	513.9	3.26%	0.20%	3.26% (Oct 2025)	2.11% (Dec 2024)	6.06 L	-0.43 L	Large Cap	30.89
HDFC Bank Ltd.	Private sector bank	3.22	508.3	3.22%	0.19%	3.22% (Oct 2025)	2.46% (Dec 2024)	5.15 L	0.00	Other	39.49
GE T&D India Ltd.	Heavy electrical equipment	3.67	506	3.21%	-0.25%	3.48% (Aug 2025)	1.83% (Feb 2025)	1.67 L	-0.22 L	Small Cap	18.79
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	11.14	493.5	3.13%	0.01%	4.26% (Apr 2025)	3.1% (Aug 2025)	2.92 L	-0.25 L	Large Cap	30.89
Varun Beverages Ltd.	Other beverages	2.72	429.1	2.72%	0.21%	2.93% (Dec 2024)	2.22% (Jun 2025)	9.14 L	0.00	Other	39.49
LTIMindtree Ltd.	Computers - software & consulting	10.43	413.3	2.62%	0.30%	2.69% (Jan 2025)	2% (Mar 2025)	72.70 k	0.00	Mid Cap	8.65
Hyundai Motor India Ltd.	Passenger cars & utility vehicles	2.55	402.1	2.55%	-0.35%	2.9% (Sep 2025)	1.58% (Jan 2025)	1.65 L	-0.17 L	Other	39.49
Divis Laboratories Ltd.	Pharmaceuticals	11.14	399.6	2.53%	0.44%	2.53% (Oct 2025)	1.89% (Jan 2025)	59.30 k	0.00	Large Cap	30.89
Pearl Global Industries Limited	Trading – textiles	2.53	398.9	2.53%	0.14%	2.53% (Oct 2025)	1.55% (Apr 2025)	3.03 L	0.00	Other	39.49
Firstsource Solutions Ltd.	It enabled services	2.47	389.5	2.47%	0.23%	2.81% (Feb 2025)	2.23% (Jul 2025)	11.01 L	0.00	Small Cap	18.79
KPIT Technologies Ltd.	Computers - software & consulting	10.43	378.1	2.40%	0.01%	2.83% (Jan 2025)	2.39% (Sep 2025)	3.24 L	-0.28 L	Other	39.49
Swiggy Ltd.	E-retail/ e-commerce	2.25	355.2	2.25%	-0.26%	2.51% (Sep 2025)	0.74% (Apr 2025)	8.66 L	-0.92 L	Other	39.49
Lupin Ltd.	Pharmaceuticals	11.14	349.2	2.21%	0.11%	2.27% (Apr 2025)	1.97% (Jun 2025)	1.78 L	0.00	Large Cap	30.89
Tech Mahindra Ltd.	Computers - software & consulting	10.43	315.7	2.00%	0.08%	2.55% (Jan 2025)	1.86% (Mar 2025)	2.22 L	0.00	Large Cap	30.89
Marico Ltd.	Personal care	1.97	311.7	1.97%	-0.27%	2.99% (Apr 2025)	1.97% (Oct 2025)	4.33 L	-0.86 L	Large Cap	30.89
Vinati Organics Ltd.	Specialty chemicals	4.2	300.2	1.90%	-0.05%	1.95% (Sep 2025)	1.35% (Jan 2025)	1.82 L	0.00	Other	39.49
CCL Products (India) Ltd.	Tea & coffee	1.87	295.4	1.87%	0.07%	1.87% (Oct 2025)	1.17% (Mar 2025)	3.44 L	0.00	Small Cap	18.79
Wockhardt Ltd.	Pharmaceuticals	11.14	283.7	1.80%	-0.28%	2.31% (Jun 2025)	1.8% (Oct 2025)	2.21 L	0.00	Small Cap	18.79
National Aluminium Co. Ltd.	Aluminium	4.97	270.1	1.71%	-0.19%	2.12% (Nov 2024)	1.54% (Apr 2025)	11.54 L	-2.86 L	Small Cap	18.79
Jyoti CNC Automation Ltd.	Industrial products	1.7	268.4	1.70%	0.07%	2.34% (May 2025)	1.59% (Feb 2025)	3.11 L	0.00	Other	39.49
K.P.R. Mill Ltd.	Other textile products	3.05	267.1	1.69%	0.04%	1.84% (May 2025)	1.45% (Feb 2025)	2.50 L	0.00	Other	39.49
Motherson Sumi Systems Ltd.	Auto components & equipments	2.44	261.9	1.66%	0.04%	1.68% (May 2025)	1.42% (Aug 2025)	24.85 L	0.00	Large Cap	30.89
Zensar Technologies Ltd.	Computers - software & consulting	10.43	251.1	1.59%	-0.34%	2.55% (Jan 2025)	1.59% (Oct 2025)	3.15 L	-0.93 L	Small Cap	18.79
Eicher Motors Ltd.	2/3 wheelers	5.52	244.5	1.55%	0.24%	1.55% (Oct 2025)	0% (Nov 2024)	34.90 k	4.70 k	Other	39.49
- TBO TEK Ltd.	Tour, travel related services	1.54	242.8	1.54%	0.00%	1.54% (Oct 2025)	0.49% (Feb 2025)	1.64 L	0.00	Other	39.49
J.b. Chemicals & Pharmaceuticals Ltd.	Pharmaceuticals	11.14	232	1.47%	0.01%	1.47% (Oct 2025)	1.29% (Nov 2024)	1.38 L	0.00	Other	39.49
Jubilant Foodworks Ltd.	Restaurants	1.42	223.8	1.42%	-0.01%	1.45% (Jul 2025)	1.13% (Nov 2024)	3.74 L	0.00	Other	39.49
Indo Count Industries Ltd.	Other textile products	3.05	214.7	1.36%	0.09%	1.36% (Oct 2025)	0.96% (Aug 2025)	7.57 L	0.00	Small Cap	18.79
Aarti Industries Ltd.	Specialty chemicals	4.2	209.8	1.33%	0.05%	1.37% (Jul 2025)	0.63% (Dec 2024)	5.52 L	0.00	Mid Cap	8.65
Dixon Technologies (India) Ltd.	Consumer electronics	1.31	206.1	1.31%	-0.03%	1.8% (Dec 2024)	1.14% (May 2025)	13.30 k	0.00	Other	39.49
Stylam Industries Ltd.	Plywood boards/ laminates	1.21	191.4	1.21%	0.26%	1.21% (Oct 2025)	0% (Nov 2024)	93.05 k	0.00	Other	39.49
IIFL Capital Services Ltd.	Stockbroking & allied	1.11	175.5	1.11%	0.22%	1.11% (Oct 2025)	0.52% (Mar 2025)	5.14 L	0.00	Other	39.49
Hexaware Technologies Ltd.	Computers - software & consulting	10.43	160	1.01%	0.50%	1.01% (Oct 2025)	0% (Nov 2024)	2.33 L	1.10 L	Other	39.49
Epigral Ltd.	Specialty chemicals	4.2	153.7	0.97%	0.02%	1.09% (Jul 2025)	0.83% (Dec 2024)	90.99 k	0.00	Other	39.49
Carborundum Universal Ltd.	Abrasives & bearings	0.96	151.5	0.96%	-0.15%	1.54% (Nov 2024)	0.96% (Oct 2025)	1.68 L	-0.26 L	Small Cap	18.79
Laxmi Dental Ltd.	Medical equipment & supplies	0.86	135.7	0.86%	-0.01%	1.21% (Jun 2025)	0% (Nov 2024)	4.32 L	0.00	Other	39.49
Wipro Ltd.	Computers - software & consulting	10.43	128.1	0.81%	-1.13%	2.79% (Jan 2025)	0.81% (Oct 2025)	5.32 L	-7.80 L	Large Cap	30.89
WABCO India Ltd.	Auto components & equipments	2.44	123.3	0.78%	-0.01%	0.79% (Sep 2025)	0% (Nov 2024)	9.92 k	0.00	Mid Cap	8.65
Jindal Saw Ltd.	Steel products	0.48	76.6	0.48%	-0.78%	2.01% (Nov 2024)	0.48% (Oct 2025)	4.37 L	-5.70 L	Other	39.49
- Siemens Ltd.	Heavy electrical equipment	3.67	72.8	0.46%	0.00%	0.96% (Nov 2024)	0.42% (Jul 2025)	23.50 k	0.00	Large Cap	30.89
NIIT Learning Systems Ltd.	Education	0.45	71.5	0.45%	-0.45%	1.52% (Jan 2025)	0.45% (Oct 2025)	2.20 L	-2.25 L	Other	39.49
# Lenskart Solutions Ltd.	Speciality retail	0.15	23.1	0.15%	0.15%	0.15% (Oct 2025)	0% (Nov 2024)	57.35 k	57.35 k	Other	39.49
# TVS Motor Company Ltd. - Preference Shares	2/3 wheelers	5.52	8	0.05%	0.00%	0% (Nov 2025)	0% (Nov 2025)	7.93 L	0.00	Other	39.49
HDB Financial Services Ltd.	Non banking financial company (nbfc)		26.8	0.00%	-0.17%	-	-	-	-	Other	39.49
Sonata Software Ltd.	Computers - software & consulting	10.43	16.4	0.00%	-0.10%	-	-	-	-	Small Cap	18.79
Pi Industries Ltd.	Pesticides & agrochemicals		122.4	0.00%	-0.76%	-	-	-	-	Mid Cap	8.65
Gujarat Fluorochemicals Ltd.	Specialty chemicals	4.2	148.3	0.00%	-0.92%	-	-	-	-	Other	39.49
Bajaj Auto Ltd.	2/3 wheelers	5.52	97.8	0.00%	-0.61%	-	-	-	-	Large Cap	30.89

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Lenskart Solutions Ltd.	Speciality retail	23.1	0.15%	0.15%	0.15% (Oct 2025)	0% (Nov 2024)	57.35 k	57350

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	1M Change in Qty
HDB Financial Services Ltd.	Non banking financial company (nbfc)	26.8	0.00%	-0.17%	0.34% (Aug 2025)	0% (Nov 2024)	-35723
Sonata Software Ltd.	Computers - software & consulting	16.4	0.00%	-0.10%	1.98% (Nov 2024)	0% (Nov 2024)	-47430
Pi Industries Ltd.	Pesticides & agrochemicals	122.4	0.00%	-0.76%	1.39% (Jul 2025)	0% (Nov 2024)	-34850
Gujarat Fluorochemicals Ltd.	Specialty chemicals	148.3	0.00%	-0.92%	0.99% (Mar 2025)	0% (Nov 2024)	-40000
Bajaj Auto Ltd.	2/3 wheelers	97.8	0.00%	-0.61%	2.36% (Jan 2025)	0% (Nov 2024)	-11270

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
Reliance Industries Ltd.	4.71%	4.44%	4.39%	4.34%	4.51%	4.35%	4.51%	3.81%	3.76%	3.53%	2.82%	3.01%	1.65%
Larsen & Toubro Ltd.	4.15%	3.68%	3.80%	3.92%	3.81%	3.88%	3.70%	3.88%	3.69%	3.71%	3.53%	3.66%	2.27%
Bharti Airtel Ltd.	4.00%	3.80%	3.79%	3.71%	3.75%	3.52%	4.01%	3.74%	3.56%	3.28%	3.02%	3.10%	2.57%
Sun Pharmaceutical Industries Ltd.	3.13%	3.12%	3.10%	3.46%	3.27%	3.33%	4.26%	4.05%	3.90%	3.80%	3.88%	3.67%	2.34%
TVS Motor Company Ltd.	3.92%	4.22%	3.99%	3.48%	3.70%	3.59%	3.62%	3.29%	3.17%	3.12%	2.84%	2.92%	1.92%
Avalon Technologies Ltd.	4.95%	4.10%	3.35%	3.29%	3.16%	2.61%	2.74%	2.42%	2.23%	1.97%	2.43%	2.44%	1.25%
HDFC Bank Ltd.	3.22%	3.03%	3.01%	3.08%	2.94%	2.91%	3.02%	2.88%	2.86%	2.50%	2.46%	2.50%	2.51%
Marico Ltd.	1.97%	2.24%	2.67%	2.71%	2.85%	2.88%	2.99%	2.98%	2.89%	2.87%	2.58%	2.61%	1.65%
GE T&D India Ltd.	3.21%	3.46%	3.48%	3.44%	2.87%	2.77%	2.03%	2.03%	1.83%	2.31%	2.53%	2.14%	1.58%
Hindalco Industries Ltd.	3.26%	3.06%	2.81%	2.63%	2.57%	2.39%	2.47%	2.71%	2.64%	2.21%	2.11%	2.30%	2.29%
Varun Beverages Ltd.	2.72%	2.51%	2.74%	2.63%	2.22%	2.35%	2.71%	2.81%	2.38%	2.61%	2.93%	2.85%	1.56%
KPIT Technologies Ltd.	2.40%	2.39%	2.58%	2.56%	2.53%	2.74%	2.69%	2.61%	2.70%	2.83%	2.77%	2.60%	1.40%
Firstsource Solutions Ltd.	2.47%	2.24%	2.37%	2.23%	2.36%	2.38%	2.29%	2.29%	2.81%	2.42%	2.56%	2.50%	2.02%
eClerx Services Ltd.	3.82%	3.17%	3.33%	2.87%	2.57%	2.65%	1.64%	1.82%	1.90%	1.83%	1.96%	1.97%	1.01%
LTIMindtree Ltd.	2.62%	2.32%	2.29%	2.20%	2.21%	2.14%	2.03%	2.00%	2.38%	2.69%	2.15%	2.38%	2.00%