(Retail)
Onshore OEIC

Performance

Cumulative Performance (%)

	3m	6m	1Yr	3Yr	5Yr
Fund	18.20%	6.36%	7.95%	26.92%	42.08%
Sector	12.17%	6.63%	7.60%	28.44%	50.63%
Rank	24/218	118/218	106/214	136/212	129/202
Quartile	1	3	2	3	3

Discrete Performance (%) - to last month end

	06/20 to 06/21	06/21 to 06/22	06/22 to 06/23	06/23 to 06/24	06/24 to 06/25
Fund	32.62%	-15.34%	2.54%	14.22%	9.75%
Sector	27.66%	-8.49%	6.20%	12.60%	8.70%
Rank	47/202	159/207	175/212	56/213	106/214
Quartile	1	4	4	2	2

Fund Aims

The Fund aims to track the perfomance of the FTSE 250 Index (the "Index") before the dedution of charges and tax.

Fund Manager

HSBC Index and Systematic Equity Portfolio Management Team manager for: 8 years 10 months

N/A

Fund Overview

Price

Bid 346.10p

Offer 346.10p (04/07/2025)

Historic yield

2.88%

Fund size

£1203.3m

Number of holdings

335

Initial charge

0.00%

Annual Management Charge

0.25%

Ongoing Charges

0.28%

Top 10 Holdings
Stock Name	% Weight
ICF FTSE 250 Index FU Jun25	1.5%
BRITISH LAND COMPANY PUBLIC LIMITED COMPANY(THE)	1.4%
IG GROUP HOLDINGS	1.3%
DIRECT LINE INSURANCE GROUP	1.3%
Tritax Big Box REIT Plc Tritax Big Box REIT Ord GBP0.01	1.2%
B & M EUROPEAN VALUE RETAIL SA	1.1%
BELLWAY P L C	1.1%
INVESTEC	1.0%
CRANSWICK	1.0%
ITV	0.9%
Total	11.7%

X-RayEquity Sector Allocation

FTSE/ICB Supersector	% Weight
Financial Services	35.7%
Industrial Goods & Services	10.6%
Real Estate	9.9%
Non-Classified	5.6%
Retail	4.3%
Technology	3.9%
Travel & Leisure	3.8%
Construction & Materials	3.5%
Consumer Products & Services	3.4%
Food, Beverage & Tobacco	3.2%
Other	13.2%
Cash and Equivalents	-1.7%

Data accurate at: 30/04/2025

Performance figures show total return with no initial charge and net income reinvested, except for Offshore funds which show gross income reinvested. Cumulative performance figures are calculated from the previous working day. Discrete performance figures are calculated from the previous month end.

Data accurate at: 30/04/2025

Asset Allocation

	UK Equities	58.7%
	Investment Trusts	29.3%
	Property	5.1%
	Other	3.6%
	International Equities	3.4%
	Hedge Funds	1.6%
	Cash & Equivalents	-1.7%

X-Ray Equity Sector Allocation

ICB Industries ICB Supersectors ICB Sectors ICB Subsectors

ICB Industries

Financials		40.8%
Industrials		14.1%
Consumer Discretionary		13.6%
Real Estate		9.9%
Non-Classified		6.0%
Consumer Staples		4.5%
Technology		3.9%
Basic Materials		2.3%
Utilities		2.0%
Alternative Trading Strategies		1.8%
Energy		1.1%
Health Care		0.9%
Telecommunications		0.7%
Cash and Equivalents		-1.7%

ICB Supersectors

Financial Services		35.7%
Industrial Goods & Services		10.6%
Real Estate		9.9%
Non-Classified		6.0%
Retail		4.3%
Technology		3.9%
Travel & Leisure		3.8%
Construction & Materials		3.5%
Consumer Products & Services		3.4%
Food, Beverage & Tobacco		3.2%
Banks		2.8%
Insurance		2.3%
Utilities		2.0%
Alternative Trading Strategies		1.8%
Media		1.7%
Chemicals		1.5%
Personal Care, Drug & Grocery Stores		1.3%
Energy		1.1%
Health Care		0.9%
Basic Resources		0.9%
Telecommunications		0.7%
Automobiles & Parts		0.3%
Cash and Equivalents		-1.7%

ICB Sectors

Equity Investment Instruments		27.1%
Real Estate Investment Trusts		8.8%
Investment Banking & Brokerage Services		7.4%
Non-Classified		6.0%
Industrial Support Services		4.7%
Retailers		4.3%
Travel & Leisure		3.8%
Software & Computer Services		3.8%
Construction & Materials		3.5%
Banks		2.8%
Food Producers		2.8%
Electronic & Electrical Equipment		2.6%
Household Goods & Home Construction		1.9%
Alternative Trading Strategies		1.8%
Non-life Insurance		1.8%
Media		1.7%
Chemicals		1.5%
Personal Care, Drug & Grocery Stores		1.3%
Personal Goods		1.3%
Electricity		1.2%
Aerospace & Defence		1.2%
Finance & Credit Services		1.2%
Non-Renewable Energy		1.1%
Real Estate Investment & Services		1.1%
Industrial Transportation		1.0%
Gas, Water & Multi-utilities		0.8%
Pharmaceuticals & Biotechnology		0.7%
Industrial Metals & Mining		0.6%
Industrial Engineering		0.5%
Life Insurance		0.5%
General Industrials		0.5%
Beverages		0.4%
Telecommunications Equipment		0.4%
Telecommunications Service Providers		0.3%
Automobiles & Parts		0.3%
Precious Metals & Mining		0.3%
Health Care Providers		0.2%
Leisure Goods		0.2%
Technology Hardware & Equipment		0.1%
Consumer Services		<0.1%
Cash and Equivalents		-1.7%

ICB Subsectors

Equity Investment Instruments		27.1%
Non-Classified		6.0%
Investment Services		3.9%
Asset Managers & Custodians		3.4%
Banks		2.8%
Food Products		2.8%
Diversified REITs		2.5%
Specialty Retailers		2.4%
Professional Business Support Services		2.1%
Home Construction		1.9%
Alternative Trading Strategies		1.8%
Industrial Suppliers		1.8%
Property & Casualty Insurance		1.8%
Consumer Digital Services		1.6%
Construction		1.6%
Computer Services		1.4%
Office REITs		1.3%
Food Retailers & Wholesalers		1.2%
Conventional Electricity		1.2%
Other Specialty REITs		1.2%
Health Care REITs		1.2%
Restaurants & Bars		1.2%
Travel & Tourism		1.1%
Storage REITs		1.1%
Diversified Retailers		1.1%
Electrical Components		1.1%
Building Materials: Other		1.0%
Defense		1.0%
Chemicals: Diversified		1.0%
Radio & TV Broadcasters		0.9%
Clothing & Accessories		0.9%
Oil: Crude Producers		0.9%
Electronic Equipment: Control & Filter		0.9%
Casinos & Gambling		0.8%
Retail REITs		0.8%
Software		0.8%
Water		0.7%
Biotechnology		0.7%
Business Training & Employment Agencies		0.7%
Real Estate Holding and Development		0.7%
Consumer Lending		0.6%
Media Agencies		0.6%
Electronic Equipment: Gauges & Meters		0.6%
Mortgage Finance		0.6%
Home Improvement Retailers		0.5%
Life Insurance		0.5%
Metal Fabricating		0.5%
Diversified Industrials		0.5%
Specialty Chemicals		0.5%
Transportation Services		0.4%
Airlines		0.4%
Real Estate Services		0.4%
Residential REITs		0.4%
Telecommunications Equipment		0.4%
Engineering & Contracting Services		0.4%
Telecommunications Services		0.3%
Marine Transportation		0.3%
Building, Roofing/Wallboard & Plumbing		0.3%
Apparel Retailers		0.3%
Platinum & Precious Metals		0.3%
Machinery: Industrial		0.3%
Luxury Items		0.3%
Auto Parts		0.3%
Soft Drinks		0.3%
Commercial Vehicle-Equipment Leasing		0.2%
Cement		0.2%
Machinery: Specialty		0.2%
Industrial REITs		0.2%
Aerospace		0.2%
Health Care Facilities		0.2%
Distillers & Vintners		0.2%
Photography		0.2%
Publishing		0.2%
Recreational Services		0.2%
Transaction Processing Services		0.1%
Oil Equipment & Services		0.1%
Footwear		0.1%
Hotels & Motels		<0.1%
Offshore Drilling & Other Services		<0.1%
Computer Hardware		<0.1%
Personal Products		<0.1%
Automobiles		<0.1%
Iron & Steel		<0.1%
Semiconductors		<0.1%
Electronic Components		<0.1%
Electronic Entertainment		<0.1%
General Mining		<0.1%
Consumer Services: Misc.		<0.1%
Brewers		<0.1%
Gas Distribution		<0.1%
Delivery Services		<0.1%
Pharmaceuticals		<0.1%
Entertainment		<0.1%
Machinery: Construction & Handling		<0.1%
Cash and Equivalents		-1.7%

Interactive Sector Breakdown

Drill down to specific information by clicking the folders.

ICB Industry				ICB Subsectors	ICB Sectors	ICB Supersectors	ICB Industries
			Expand all / Collapse all
Financials							40.8%
	Financial Services					35.7%
		Equity Investment Instruments			27.1%
			Equity Investment Instruments	27.1%
		Investment Banking & Brokerage Services			7.4%
			Investment Services	3.9%
			Asset Managers & Custodians	3.4%
		Finance & Credit Services			1.2%
			Consumer Lending	0.6%
			Mortgage Finance	0.6%
	Banks					2.8%
		Banks			2.8%
			Banks	2.8%
	Insurance					2.3%
		Non-life Insurance			1.8%
			Property & Casualty Insurance	1.8%
		Life Insurance			0.5%
			Life Insurance	0.5%
Industrials							14.1%
	Industrial Goods & Services					10.6%
		Industrial Support Services			4.7%
			Professional Business Support Services	2.1%
			Industrial Suppliers	1.8%
			Business Training & Employment Agencies	0.7%
			Transaction Processing Services	0.1%
		Electronic & Electrical Equipment			2.6%
			Electrical Components	1.1%
			Electronic Equipment: Control & Filter	0.9%
			Electronic Equipment: Gauges & Meters	0.6%
		Aerospace & Defence			1.2%
			Defense	1.0%
			Aerospace	0.2%
		Industrial Transportation			1.0%
			Transportation Services	0.4%
			Marine Transportation	0.3%
			Commercial Vehicle-Equipment Leasing	0.2%
			Delivery Services	< 0.1%
		Industrial Engineering			0.5%
			Machinery: Industrial	0.3%
			Machinery: Specialty	0.2%
			Machinery: Construction & Handling	< 0.1%
		General Industrials			0.5%
			Diversified Industrials	0.5%
	Construction & Materials					3.5%
		Construction & Materials			3.5%
			Construction	1.6%
			Building Materials: Other	1.0%
			Engineering & Contracting Services	0.4%
			Building, Roofing/Wallboard & Plumbing	0.3%
			Cement	0.2%
Consumer Discretionary							13.6%
	Retail					4.3%
		Retailers			4.3%
			Specialty Retailers	2.4%
			Diversified Retailers	1.1%
			Home Improvement Retailers	0.5%
			Apparel Retailers	0.3%
	Travel & Leisure					3.8%
		Travel & Leisure			3.8%
			Restaurants & Bars	1.2%
			Travel & Tourism	1.1%
			Casinos & Gambling	0.8%
			Airlines	0.4%
			Recreational Services	0.2%
			Hotels & Motels	0.1%
	Consumer Products & Services					3.4%
		Household Goods & Home Construction			1.9%
			Home Construction	1.9%
		Personal Goods			1.3%
			Clothing & Accessories	0.9%
			Luxury Items	0.3%
			Footwear	0.1%
		Leisure Goods			0.2%
			Photography	0.2%
			Electronic Entertainment	< 0.1%
		Consumer Services			< 0.1%
			Consumer Services: Misc.	< 0.1%
	Media					1.7%
		Media			1.7%
			Radio & TV Broadcasters	0.9%
			Media Agencies	0.6%
			Publishing	0.2%
			Entertainment	< 0.1%
	Automobiles & Parts					0.3%
		Automobiles & Parts			0.3%
			Auto Parts	0.3%
			Automobiles	0.1%
Real Estate							9.9%
	Real Estate					9.9%
		Real Estate Investment Trusts			8.8%
			Diversified REITs	2.5%
			Office REITs	1.3%
			Other Specialty REITs	1.2%
			Health Care REITs	1.2%
			Storage REITs	1.1%
			Retail REITs	0.8%
			Residential REITs	0.4%
			Industrial REITs	0.2%
		Real Estate Investment & Services			1.1%
			Real Estate Holding and Development	0.7%
			Real Estate Services	0.4%
Consumer Staples							4.5%
	Food, Beverage & Tobacco					3.2%
		Food Producers			2.8%
			Food Products	2.8%
		Beverages			0.4%
			Soft Drinks	0.3%
			Distillers & Vintners	0.2%
			Brewers	< 0.1%
	Personal Care, Drug & Grocery Stores					1.3%
		Personal Care, Drug & Grocery Stores			1.3%
			Food Retailers & Wholesalers	1.2%
			Personal Products	0.1%
Technology							3.9%
	Technology					3.9%
		Software & Computer Services			3.8%
			Consumer Digital Services	1.6%
			Computer Services	1.4%
			Software	0.8%
		Technology Hardware & Equipment			0.1%
			Computer Hardware	0.1%
			Semiconductors	< 0.1%
			Electronic Components	< 0.1%
Basic Materials							2.3%
	Chemicals					1.5%
		Chemicals			1.5%
			Chemicals: Diversified	1.0%
			Specialty Chemicals	0.5%
	Basic Resources					0.9%
		Industrial Metals & Mining			0.6%
			Metal Fabricating	0.5%
			Iron & Steel	0.1%
			General Mining	< 0.1%
		Precious Metals & Mining			0.3%
			Platinum & Precious Metals	0.3%
Utilities							2.0%
	Utilities					2.0%
		Electricity			1.2%
			Conventional Electricity	1.2%
		Gas, Water & Multi-utilities			0.8%
			Water	0.7%
			Gas Distribution	< 0.1%
Alternative Trading Strategies							1.8%
	Alternative Trading Strategies					1.8%
		Alternative Trading Strategies			1.8%
			Alternative Trading Strategies	1.8%
Energy							1.1%
	Energy					1.1%
		Non-Renewable Energy			1.1%
			Oil: Crude Producers	0.9%
			Oil Equipment & Services	0.1%
			Offshore Drilling & Other Services	0.1%
Health Care							0.9%
	Health Care					0.9%
		Pharmaceuticals & Biotechnology			0.7%
			Biotechnology	0.7%
			Pharmaceuticals	< 0.1%
		Health Care Providers			0.2%
			Health Care Facilities	0.2%
Telecommunications							0.7%
	Telecommunications					0.7%
		Telecommunications Equipment			0.4%
			Telecommunications Equipment	0.4%
		Telecommunications Service Providers			0.3%
			Telecommunications Services	0.3%
Non-Classified							6.0%
Cash and Equivalents							-1.7%

X-Ray Regional Allocation

	UK	58.7%
	Non-Classified	34.6%
	Property	5.1%
	Developed Europe - Excl UK	2.3%
	Middle East & Africa	0.8%
	Emerging Asia	0.1%
	Developed Asia	< 0.1%
	North America	< 0.1%
	South & Central America	< 0.1%
	Australia & New Zealand	< 0.1%

Show/Hide Full Country Weights

Interactive Region Breakdown

Drill down to specific information by clicking the folders.

Breakdown By Market Cap (%)

Top 10 Holdings
	Stock name	% Weight	Country	Sector
1	ICF FTSE 250 Index FU Jun25	1.5 %	Non-Classified	Non-Classified
2	BRITISH LAND COMPANY PUBLIC LIMITED COMPANY(THE)	1.4 %	Direct Property and REITs	Real Estate
3	IG GROUP HOLDINGS	1.3 %	United Kingdom	Financials
4	DIRECT LINE INSURANCE GROUP	1.3 %	United Kingdom	Financials
5	Tritax Big Box REIT Plc Tritax Big Box REIT Ord GBP0.01	1.2 %	United Kingdom	Real Estate
6	B & M EUROPEAN VALUE RETAIL SA	1.1 %	Luxembourg	Consumer Discretionary
7	BELLWAY P L C	1.1 %	United Kingdom	Consumer Discretionary
8	INVESTEC	1.0 %	United Kingdom	Financials
9	CRANSWICK	1.0 %	United Kingdom	Consumer Staples
10	ITV	0.9 %	United Kingdom	Consumer Discretionary

X-Ray FL Dual Aspect Analysis
	UK Equities	Int'l Equities	UK Bonds	Int'l Bonds	UK Gilts	Managed Funds	Property	Other	Cash & Equiv	Total
Technology	3.9%	0.1%						0.4%		4.3%
Telecommunications	0.7%	0.0%								0.7%
Financials	12.9%	1.1%						27.7%		41.7%
Real Estate	4.8%	0.0%					5.1%			9.9%
Consumer Discretionary	12.4%	1.1%								13.6%
Consumer Staples	4.1%	0.5%								4.5%
Energy	1.1%	0.0%								1.1%
Utilities	2.0%	0.0%								2.0%
Health Care	0.9%	0.0%								0.9%
Industrials	13.5%	0.6%								14.1%
Basic Materials	2.1%	0.2%								2.3%
Cash and Equivalents									-1.7%	-1.7%
Bonds				0.4%						0.4%
Non-Classified	0.5%	1.5%						4.2%	0.0%	6.2%
Total	58.9%	5.1%		0.4%			5.1%	32.3%	-1.7%	100.0%

The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.

Identification Codes

Sedol Code

0046781

Mex Code

MDFTIA

ISIN code

GB0000467810

Distribution Details

Income Frequency

N/A

Distribution Payment Basis

Net

Charges

Discounted initial charge

0.000%

Net discounted AMC

0.100%

Initial charge

0.00%

Annual Management Charge

0.25%

Exit charge

None

Performance fees

None

Ongoing Charges

0.28%

Ratings

Aims & Benchmark

Benchmark

FTSE 250 Gross

IA sector

UK All Companies

Aims

The Fund aims to track the perfomance of the FTSE 250 Index (the "Index") before the dedution of charges and tax.

Fund Administration

Fund Trustee/Depository

State Street Trustees Limited

Fund Administrator

HSBC Global Asset Management (UK) Limited

Fund Registrar

State Street Trustees Limited

Fund Custodian

HSBC Global Asset Management (UK) Limited

Fund Background

Valuation point

Daily 12:00

Fund type

OEIC

Launch date

07/10/1997

Launch price

£0.50

Fund currency

Pound Sterling

Fund domicile

United Kingdom

Group Details

Group name

HSBC Asset Management (Fund Services UK)

Group address

1st Floor
78 St James's Street
London
SW1A 1EJ

Group telephone

0800 181 890

Dealing telephone

0845 7456126

adviser.services@hsbc.com

Homepage

www.assetmanagement.hsbc.com/uk

Fax number

020 7024 1989

Dealing

EMX

Yes

ISA Eligible

Yes

Minimum investment

£1000

Settlement period: buy

3 days

Settlement period: sell

3 days

Pricing basis

Forward

Data accurate at: 30/04/2025

Risk Analysis

Ratio

Value

Alpha

-2.5364

Beta

1.2781

Sharpe

0.3353

Volatility

15.3045

Info Ratio

-0.0799

Concentration Coefficient*

178

*A measure of portfolio concentration, e.g. where the fund coefficient is 25, this means the portfolio concentration is equivalent to holding 25 equally weighted stocks.

Risk Factors

Risk Factor

Yes/No

Charges to Capital

Emerging Markets

Concentrated Portfolio

Smaller Companies

High Yield Bonds

Sector Specific

Geared Investments

Value of Investments

Yes

Investments Long Term

Yes

Property

Exchange Rate

Yes

Higher Risk

Performance Charges

Derivative Exposure

Yes

Fund Specific Risks
Value Of Investments - The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed. Investments Long Term - Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve. Exchange Rate - This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies. Derivative Exposure - The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.

Fund Specific Risks

Value Of Investments - The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term - Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate - This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Derivative Exposure - The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.

Expand all / Collapse all		Country	Region
UK			58.7%
	United Kingdom	58.9%
Non-Classified			34.6%
Property			5.1%
Developed Europe - Excl UK			2.3%
	Luxembourg	1.1%
	Ireland	1.0%
	Netherlands	0.2%
	Germany	< 0.1%
Middle East & Africa			0.8%
	Israel	0.8%
Emerging Asia			0.1%
	Taiwan	< 0.1%
	South Korea	< 0.1%
	China	< 0.1%
	India	< 0.1%
	Indonesia	< 0.1%
	Thailand	< 0.1%
	Viet Nam	< 0.1%
Developed Asia			< 0.1%
	Hong Kong	< 0.1%
	Singapore	< 0.1%
North America			< 0.1%
	United States	< 0.1%
South & Central America			< 0.1%
	Cayman Islands	< 0.1%
Australia & New Zealand			< 0.1%
	Australia	< 0.1%
Cash and Equivalents			-1.7%

(Retail) Onshore OEIC

Performance

Cumulative Performance (%)

Discrete Performance (%) - to last month end

Fund Aims

Fund Manager

Fund Overview

Top 10 Holdings

X-RayEquity Sector Allocation

Asset Allocation

X-Ray Equity Sector Allocation

ICB Industries

ICB Supersectors

ICB Sectors

ICB Subsectors

Interactive Sector Breakdown

X-Ray Regional Allocation

Interactive Region Breakdown

Breakdown By Market Cap (%)

Top 10 Holdings

X-Ray FL Dual Aspect Analysis

Identification Codes

Distribution Details

Charges

Ratings

Aims & Benchmark

Fund Administration

Fund Background

Group Details

Dealing

Performance

Risk Analysis

Concentration Coefficient*

Risk Factors

(Retail)
Onshore OEIC