CEO Speak September 2026

Opportunities Beyond the Conventional

August saw Indian equity markets navigate a mix of domestic resilience and global uncertainty. At the same time, India’s GDP grew 7.8 per cent in the April–June quarter, supported by investment, manufacturing, services, exports and domestic demand.

While benchmark indices remained volatile, the divergence in performance across market segments offered an interesting perspective on where opportunities emerged beyond the key benchmarks.

1-Year Performance across Market Segments

Source: MFI Explorer, NSE. As of 31 August 2026. Past performance may or may not be sustained in future and is not a guarantee of any future returns.

Such divergence reinforces why investors are looking beyond market-cap categories and considering structural themes that can participate in India’s next phase of growth.

Investors are evolving, so are their portfolios

Indian investors today have access to a much wider investment universe than they did some years back. As opportunities deepen across sectors and themes, investors are increasingly looking beyond traditional market-cap categories.

For matured investors with the appropriate investment horizon and risk appetite, differentiated and thematic strategies can potentially complement a core portfolio and provide exposure to structural opportunities developing within the economy.

At HSBC Mutual Fund, we have consistently aim to bring such differentiated opportunities to investors. It has been our continuous endeavour to bring value to the table with our unique products.

Our investment strategies have enabled participation in areas such as:

• India’s evolving consumption story — capturing opportunities arising from rising incomes, premiumisation, formalisation and changing consumer preferences
• India’s growing global opportunity — identifying businesses that can benefit from exports, global supply-chain realignment and India’s increasing competitiveness across manufacturing and services
• The expanding financial ecosystem — participating in the continuing financialization of savings, credit, insurance, asset management, capital markets and other financial services

The objective is to identify structural opportunities where we believe businesses can create sustainable value over the long term.

Research-led. Conviction-driven. Risk-conscious.

Differentiated investing involves disciplined assessment of which businesses can sustain growth. Our fund management approach is therefore built around a few fundamental principles:

• Stringent risk-management processes embedded into portfolio construction and monitoring
• Access to customised global investment and analytical tools to strengthen research and decision-making
• Conviction backed by in-depth research, supported by a stable and experienced research team
• Efficient operational processes designed to support consistency and discipline throughout the investment lifecycle
• A focus on long-term business fundamentals rather than short-term market movements

Long-term opportunities we are watching

As India’s economy evolves, we believe four broad pillars remain particularly relevant to its long-term growth journey:

1. Financialisation

Greater participation in formal savings, investments, insurance and credit as household wealth and financial awareness expand.

2. Manufacturing & Infrastructure

Capital expenditure, infrastructure creation, supply-chain diversification and India’s emergence as a larger manufacturing base.

3. Consumption

Rising incomes, premiumisation, urbanisation and changing aspirations creating new categories of demand.

4. Digitisation

Technology reshaping businesses, transactions, distribution, productivity and the way companies engage with customers.

These opportunities will not move in a straight line. Neither will markets. That is why investment discipline and process rigour matters. Our disciplined investment approach, backed by robust processes, is fundamental to creating long-term value for our investors.

For investors – our advice remains consistent - stay disciplined, stay diversified and keep the focus on long-term goals rather than short-term market moves.

SEBI Registered Name/Number-HSBC Mutual Fund/MF/046/02/5

Views provided above are personal and based on information in public domain and subject to change. Investors are requested to consult their financial advisor for any investment decisions.

Source: MFI Explorer, HSBC MF Research. Data as on Aug end, 2026 or as latest available

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