Mahindra Manulife Equity Savings Fund Direct IDCW NAV today
AMFI: 140442ISIN: INF174V01192MUTF_IN: MAHI_MANU_EQUI_1TQ52HIMahindra Manulife Mutual FundEquity Savings funds
Formerly Mahindra Dhan Sanchay Equity Savings Yojana, Mahindra Manulife Equity Savings Dhan Sanchay Yojana
NAV ₹17.0729
NAV for 23 Oct 2026. Declared once a day.
- Fund sizeAssets under management. The money the fund manages for all its investors, across every plan, at the end of the month.
- ₹519 CrSep 2026
- Expense ratioTotal expense ratio. What the fund charges each year as a share of the money invested, taken out of the NAV every day, so the returns shown are already after it.
- 1.28%16 Oct 2026
- 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 make the fund look cheap. A loss-making company lowers the profit. Shown when at least 80% of the fund's shares are counted.
- 19.930 Sep 2026
- 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.
- Moderately HighAug 2026
- 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.
- 8830 Sep 2026
- LaunchedLaunch date. The day the fund first allotted units to investors, at the close of its new fund offer.
- 1 Feb 2017
Mahindra Manulife Equity Savings Fund returns
Read from the direct plan's growth option: an IDCW plan's NAV falls by every payout, so it carries no return of its own
Over each window to 23 Oct 2026
| Over | ReturnTrailing 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). | BenchmarkBenchmark. The index the fund house chose to measure the fund against, in its total return form, with dividends added back. | Rank in categoryRank in category. The fund's place among the funds of its category with a return over the same window, highest return first. | Category medianCategory median. The middle return of the funds in the category over the same window: half returned more, half less. | Middle halfMiddle half of the category. The returns of the fund a quarter of the way down the category and the fund a quarter of the way up, over the same window: half the category's funds returned between the two. |
|---|---|---|---|---|---|
| 1 week | −1.18% | – | – | – | – |
| 1 month | −2.01% | – | 15 of 24 | −1.81% | −2.4% to −1.4% |
| 3 months | −0.88% | – | 11 of 24 | −1.00% | −1.3% to −0.4% |
| 6 months | +1.01% | – | 10 of 24 | +0.36% | −0.2% to +1.6% |
| 1 year | +2.20% | +1.54%to 30 Sep 2026 | 8 of 24 | +1.29% | −0.1% to +2.6% |
| 3 years | +8.99% | +7.06%to 30 Sep 2026 | 5 of 21 | +7.97% | +7.1% to +9.0% |
| 5 years | +7.81% | +6.62%to 30 Sep 2026 | 7 of 21 | +7.32% | +6.5% to +7.9% |
| 10 years | Needs 10 years | – | – | +8.54% | +7.5% to +9.5% |
₹10,000 put in on 8 Feb 2017 is ₹25,033 at the NAV of 23 Oct 2026Growth of ₹10,000. What ₹10,000 put in at the NAV of the first day would be worth at the latest NAV, after the fund's expenses and before tax and any exit load.Over a year and longer, a return is the yearly rate. Benchmark: Nifty Equity Savings Index, over the same days as the fund, or to the month end its cell names. Rank, median and middle half among the Direct plans of Equity Savings funds, each fund's return to its latest NAV on or before 25 Oct 2026.
At the month end, 30 Sep 2026
| 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). | 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. |
|---|---|---|
| 1 year | +5.00% | +1.54% |
| 3 years | +9.03% | +7.06% |
| 5 years | +8.43% | +6.62% |
| Since launch | +10.14% | +8.51% |
Benchmark: Nifty Equity Savings Index. Both as the fund house states them for the month.
Return in each calendar year
- Fund, Direct GrowthCalendar year return. The change in NAV from the last NAV of one year to the last NAV of the next.
- Loss
Highest year to Dec 2021, +18.4%; lowest year to Dec 2018, −1.4%
Mahindra Manulife Equity Savings Fund SIP returns
₹10,000 on the 1st of every month, valued at the NAV of 23 Oct 2026
| Period | InvestedAmount invested. ₹10,000 on the 1st of every month, or the next day the fund priced, added up over the period. | Value todayValue today. What the units bought by every instalment are worth at the latest NAV. | Invested against value today | SIP returnSIP return (XIRR). The yearly rate that, applied to each monthly instalment from the day it was invested, gives the value of all the units today. | After stamp dutySIP return after stamp duty. The same SIP return with stamp duty of 0.005% taken from every instalment since 1 Jul 2020, so ₹10,000 buys ₹9,999.50 of units. | Stamp dutyStamp duty paid. The stamp duty on all the instalments, in rupees: 0.005% of each purchase made since 1 Jul 2020. |
|---|---|---|---|---|---|---|
| 1 year12 instalments | ₹1,20,000 | ₹1,20,804₹1,20,798 after stamp duty | +1.30% | +1.29% | ₹6 | |
| 3 years36 instalments | ₹3,60,000 | ₹3,91,096₹3,91,076 after stamp duty | +5.54% | +5.53% | ₹18 | |
| 5 years60 instalments | ₹6,00,000 | ₹7,33,418₹7,33,382 after stamp duty | +8.03% | +8.03% | ₹30 | |
| Since Feb 2017116 instalments | ₹11,60,000 | ₹19,00,412₹19,00,361 after stamp duty | +9.92% | +9.92% | ₹38 |
10 years: Launched 1 Feb 2017, needs 10 years of history.
From the Direct Growth plan's NAV, since an IDCW plan's NAV falls by each payout.
Rolling returns
Per cent a year, every window from 8 Feb 2017 to 23 Oct 2026
Lowest to highestAverage
LowestLowest rolling return. The worst yearly return of any window of this length in the fund's history, one window starting on each day it priced.AverageAverage rolling return. The average of the yearly returns of every window of this length in the fund's history.HighestHighest rolling return. The best yearly return of any window of this length in the fund's history.Ended higherWindows that ended higher. The share of all the windows of this length in which the NAV ended above where it started.
1 year2,144 windows−12.6%+10.4%+48.6%92.7%
3 years1,653 windows−0.2%+11.4%+19.9%99.9%
5 years1,159 windows+7.8%+11.6%+17.4%100.0%
10 yearsLaunched 1 Feb 2017, needs 11 years of history
Every 5-year window ended higher than it started.From the Direct Growth plan's NAV, since an IDCW plan's NAV falls by each payout.
Mahindra Manulife Equity Savings 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.
- Regular over directDirect and regular plan cost gap. The regular plan's expense ratio less the direct plan's: what buying through a distributor costs each year, since both plans own the same portfolio.
- 1.55 ptsA year, on 16 Oct 2026
- Direct, 30-day averageExpense ratio, 30-day average. The total expense ratio averaged over the last 30 days the fund filed it, which evens out the day-to-day moves in brokerage and levies.
- 1.26%Over the last 30 days filed
- Regular, 30-day averageExpense ratio, 30-day average. The total expense ratio averaged over the last 30 days the fund filed it, which evens out the day-to-day moves in brokerage and levies.
- 2.81%Over the last 30 days filed
Total expense ratio, month by month
- Regular plan
- Direct plan
Direct plan at its highest since Oct 2018 in the latest month.Direct plan lowest 0.57%, Nov 2018.
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. | 0.75% | 2.09% |
| Brokerage | 0.17% | 0.17% |
| Transaction costs | None | None |
| Statutory levies | 0.36% | 0.57% |
Per cent of assets a year, filed for 16 Oct 2026. The parts add up to that day's total.
Exit load, in the fund house's words
10% of the units allotted shall be redeemed without any exit load, on or before completion of 15 calendar days from the date of allotment of Units. Any redemption in excess of the above limit shall be subject to the following exit load: An exit load of 1% is payable if Units are redeemed / switched-out on or before completion of 15 calendar days from the date of allotment of Units; Nil - If Units are redeemed / switched-out after completion of 15 calendar days from the date of allotment of Units.MoreLess
Buying and selling
- Lump-sum purchases
- Accepted
- Minimum investmentMinimum investment. The smallest amount the plan accepts for a first purchase.
- ₹1,000
- Minimum top-up
- ₹1,000
- Minimum redemption
- ₹1,000
- SIP
- Accepted
- STP, transfers to another fund
- Not accepted
- SWP, regular withdrawals
- Not accepted
- Switches
- Accepted
- Lock-inLock-in. The time after each purchase during which those units cannot be sold.
- None
- SIP minimum
- Weekly: 500; Monthly: 500; Quarterly: 1500
- SIP instalments, at least
- WeeklyMonthly: 6, Quarterly - 4
- SIP dates
- Any Date of the month available under Monthly & Quarterly frequencies. Any day of the Week (except Saturday & Sunday) available under Weekly frequency
As listed for this plan on 24 Oct 2026.
Mahindra Manulife Equity Savings 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.
- ₹531 CrQuarter to Sep 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.
- 2.8%Of the quarter's average
Average assets by quarter, by plan
- Regular plans
- Direct plans
Largest ₹575 Cr, quarter to Dec 2024.
Assets at each month end
Highest ₹580 Cr, Nov 2024.Lowest ₹181 Cr, Mar 2020.
Mahindra Manulife Equity Savings Fund portfolio
Portfolio disclosed for 30 Sep 2026.
Holdings on 30 Sep 2026
| 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. | Weight in the fund. The holding's market value on the portfolio date as a share of the fund's net assets. | Yield to maturity. The yearly return the fund's bonds would earn if each were held to maturity at today's price, weighted by what the fund holds of each. | 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. | ||||
|---|---|---|---|---|---|---|---|
| HDFC BankBanks | Shares | Large cap2nd | 6.04% | 31.34 | 4,42,158 | – | Sep 2019 |
| ICICI BankBanks | Shares | Large cap5th | 5.87% | 30.49 | 2,30,700 | – | Nov 2018 |
| Reliance IndustriesPetroleum Products | Shares | Large cap1st | 5.40% | 28.02 | 2,36,020 | – | Dec 2017 |
| Bajaj FinanceFinance | Shares | Large cap7th | 4.79% | 24.87 | 2,59,250 | – | Oct 2024 |
| 7.4% Bharti Telecom Limited 2029CRISIL AAA, 7.40% coupon, repaid 1 Feb 2029 | Bonds and bills | 3.77% | 19.58 | 20,00,000 | 8.40% | Jan 2026 | |
| Ambuja CementsCement & Cement Products | Shares | Large cap90th | 3.73% | 19.36 | 5,17,650 | – | Jan 2021 |
| Sun Pharmaceutical IndustriesPharmaceuticals & Biotechnology | Shares | Large cap13th | 3.30% | 17.16 | 94,450 | – | Sep 2022 |
| 364 Days Tbill 2027SOVEREIGN, repaid 20 May 2027 | Bonds and bills | 2.78% | 14.45 | 15,00,000 | 5.98% | Jul 2026 | |
| 7.79% Bajaj Housing Finance Limited 2031CRISIL AAA, repaid 20 Aug 2031 | Bonds and bills | 2.36% | 12.26 | 12,50,000 | 8.28% | Sep 2026 | |
| Mahindra & MahindraAutomobiles | Shares | Large cap14th | 2.30% | 11.92 | 40,400 | – | Jun 2022 |
| 8.37% REC Limited 2028CRISIL AAA, 8.37% coupon, repaid 7 Dec 2028 | Bonds and bills | 1.96% | 10.16 | 10,00,000 | 7.72% | Jan 2026 | |
| 8.02% Cholamandalam Investment and Finance Company Ltd 2029 (FRN)ICRA AA+, repaid 27 Feb 2029 | Bonds and bills | 1.93% | 10.00 | 10,00,000 | 8.88% | May 2026 | |
| 7.44% National Bank For Agriculture and Rural Development 2028CRISIL AAA, 7.44% coupon, repaid 24 Feb 2028 | Bonds and bills | 1.92% | 9.96 | 10,00,000 | 7.72% | Jan 2026 | |
| 6.94% Government of India 2036SOVEREIGN, 6.94% coupon, repaid 11 May 2036 | Bonds and bills | 1.89% | 9.84 | 10,00,000 | 7.31% | May 2026 | |
| 7.7% Bajaj Finance Limited 2029CRISIL AAA, repaid 20 Sep 2029 | Bonds and bills | 1.89% | 9.83 | 10,00,000 | 8.30% | Sep 2026 |
Weight is per cent of the fund's net assets; value in ₹ crore.
Futures and options on 30 Sep 2026
| Weight in the fund. The holding's market value on the portfolio date as a share of the fund's net assets. | |||
|---|---|---|---|
| Bajaj Finance Limited October 2026 Future | −4.23% | −21.95 | −2,27,250 |
| Reliance Industries Limited October 2026 Future | −4.18% | −21.69 | −1,82,000 |
| HDFC Bank Limited October 2026 Future | −3.97% | −20.60 | −2,87,950 |
| ICICI Bank Limited October 2026 Future | −3.85% | −20.00 | −1,50,500 |
| Ambuja Cements Limited October 2026 Future | −3.73% | −19.38 | −5,17,200 |
| Sun Pharmaceutical Industries Limited October 2026 Future | −2.70% | −14.04 | −76,650 |
| Mahindra & Mahindra Limited October 2026 Future | −1.90% | −9.86 | −33,400 |
| Canara Bank October 2026 Future | −1.75% | −9.11 | −7,56,000 |
| Jindal Steel Limited October 2026 Future | −1.63% | −8.46 | −74,375 |
| Larsen & Toubro Limited October 2026 Future | −1.40% | −7.24 | −19,250 |
| Kotak Mahindra Bank Limited October 2026 Future | −0.77% | −4.00 | −96,000 |
| Titan Company Limited October 2026 Future | −0.76% | −3.97 | −8,575 |
| Bank of Baroda October 2026 Future | −0.37% | −1.91 | −81,900 |
| Hindustan Petroleum Corporation Limited October 2026 Future | −0.08% | −0.43 | −12,150 |
| Hindalco Industries Limited October 2026 Future | −0.05% | −0.27 | −2,800 |
Weight is per cent of the fund's net assets; value in ₹ crore.
Cash and receivables on 30 Sep 2026
| Weight in the fund. The holding's market value on the portfolio date as a share of the fund's net assets. | ||
|---|---|---|
| Net Receivables / (Payables) | 32.83% | 170.47 |
| Triparty Repo | 2.48% | 12.88 |
| Margin placed with CCIL & ARCL | 0.07% | 0.37 |
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.
- 6.04%HDFC Bank
- Top 5 holdingsTop 5 holdings. The share of the fund held in its five largest positions.
- 25.86%
- Top 10 holdingsTop 10 holdings. The share of the fund held in its ten largest positions.
- 40.34%
- Top 10 sharesTop 10 shares. The share of the fund held in its ten largest shareholdings, bonds and fund units left out.
- 36.53%
- Effective holdingsEffective number of holdings. The number of equal-sized positions that would be as concentrated as the fund's actual weights.
- 38.5Taken over 95.99% 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.- Indian shares61.58%
- Bonds and bills29.09%
- REIT and InvIT units4.28%
- Units of other funds1.04%
- Cash and receivables4.01%
- Futures and options, netFutures and options, net. The value of the shares or bonds the fund's contracts are written on, as a share of its net assets, a sold contract counted as a minus: a hedged fund's sold futures offset the shares it holds.−31.38%
- Futures and options, grossFutures and options, gross. The value the fund's contracts are written on, as a share of its net assets, counting each contract as a plus whichever way it faces.31.38%
Per cent of the fund's net assets.
Large, mid and small cap
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 cap83.28%Category 78.12%
- Mid cap6.41%Category 13.78%
- Small cap10.31%Category 7.50%
Per cent of the fund's Indian shares. By the list for the six months to Jun 2026. Category is the average of 24 Equity Savings 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.16sectors
- Financial Services14.10%Category 10.24%
- Capital Goods3.21%Category 1.90%
- Healthcare2.76%Category 3.27%
- Automobile And Auto Components2.33%Category 2.63%
- Oil Gas & Consumable Fuels1.88%Category 1.94%
- Information Technology1.64%Category 1.75%
- Consumer Services1.30%Category 1.34%
- Telecommunication1.25%Category 1.27%
- Metals & Mining1.14%Category 0.73%
- Power1.08%Category 1.16%
- Fast Moving Consumer Goods0.92%Category 1.84%
- Construction Materials0.88%Category 0.57%
- Chemicals0.85%Category 0.65%
- Textiles0.79%Category 0.08%
- Construction0.73%Category 0.82%
- Consumer Durables0.35%Category 0.98%
Per cent of the fund's net assets, less the futures sold on its shares, Sep 2026. Category is the average of 24 Equity Savings funds. Category average. The sector's weight, less the futures sold on it, averaged over the 24 Equity Savings funds that disclosed a portfolio for Sep 2026. A fund holding none of the sector counts as 0.
Sector allocation month by month
| 13 months | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financial Services13 companies | 14.10% | 15.66% | 15.86% | 15.43% | 14.21% | 14.77% | 13.93% | 15.39% | 14.58% | 13.95% | 14.76% | 14.62% | |
| Capital Goods8 companies | 3.21% | 3.94% | 3.76% | 4.10% | 3.45% | 3.36% | 3.00% | 3.31% | 3.15% | 3.33% | 3.19% | 3.21% | |
| Healthcare4 companies | 2.76% | 3.28% | 2.86% | 2.60% | 3.35% | 3.10% | 3.00% | 3.13% | 3.04% | 2.78% | 2.98% | 3.06% | |
| Automobile And Auto Components5 companies | 2.33% | 2.89% | 2.94% | 2.80% | 2.48% | 2.62% | 2.83% | 3.00% | 2.82% | 3.01% | 3.18% | 3.47% | |
| Oil Gas & Consumable Fuels4 companies | 1.88% | 2.41% | 2.46% | 2.88% | 2.55% | 2.74% | 2.60% | 2.90% | 2.89% | 3.05% | 3.24% | 3.41% | |
| Information Technology3 companies | 1.64% | 2.01% | 2.03% | 1.71% | 1.81% | 1.98% | 1.92% | 2.05% | 3.12% | 2.98% | 2.85% | 2.75% | |
| Consumer Services2 companies | 1.30% | 1.49% | 1.52% | 1.49% | 1.29% | 1.26% | 1.19% | 1.07% | 0.73% | 0.70% | 0.78% | 0.86% | |
| Telecommunication1 company | 1.25% | 1.44% | 1.62% | 1.54% | 1.53% | 1.56% | 1.53% | 1.50% | 1.56% | 1.63% | 1.72% | 1.74% | |
| Metals & Mining4 companies | 1.14% | 1.28% | 0.88% | 0.81% | 1.13% | 1.08% | 1.00% | 0.99% | 0.96% | 0.87% | 1.09% | 1.18% | |
| Power3 companies | 1.08% | 1.34% | 1.42% | 1.46% | 1.65% | 1.73% | 1.62% | 1.29% | 1.18% | 1.10% | 1.22% | 1.28% | |
| Fast Moving Consumer Goods3 companies | 0.92% | 0.98% | 1.04% | 1.06% | 1.73% | 1.81% | 1.73% | 1.52% | 1.55% | 1.68% | 1.98% | 2.04% | |
| Construction Materials4 companies | 0.88% | 1.17% | 1.20% | 1.19% | 1.20% | 1.22% | 1.29% | 1.54% | 1.55% | 1.54% | 1.63% | 1.80% |
Per cent of the fund's net assets, less the futures sold on its shares, at each month end, Oct 2025 to Sep 2026; the line runs from Sep 2025.
- Yield to maturityYield to maturity. The yearly return the fund's bonds would earn if each were held to maturity at today's price, weighted by what the fund holds of each.
- 7.91%Lines stating a yield: 91.94% of the bond book
- Yield after expensesYield after expenses. The yield to maturity less the plan's expense ratio.
- 6.67%Direct plan
- Maturity date knownMaturity date known. The share of the bond book, perpetual bonds left out, whose repayment date is known: the bonds the durations and the maturity profile are taken over.
- 100.00%Of the bond book, perpetual bonds left out
- Perpetual bondsPerpetual bonds. Bonds with no maturity date: the issuer pays interest with no fixed day to repay. Their share of the bond book; they are in no duration and no maturity window.
- None
The bond book is the fund's bonds, bills and overnight lending.
Credit rating
Credit rating. A rating agency's grade for how likely the borrower is to repay on time: AAA down to D for loans of over a year, A1+ down to A4 for loans of under a year, two scales that are never compared.Loans of over a year
- Sovereign7.08%
- AAA15.18%
- AA6.46%
Loans of under a year
- A1+0.38%
Other
- Overnight lending2.55%
Per cent of the fund's net assets. A grade is stated for 100.00% of the bonds.
Maturity profile
Maturity profile. The fund's bonds grouped by how long until each is repaid, as a share of the fund's net assets; a bond with no known maturity date is left off.- Up to 1 month3.51%
- 1 to 3 monthsNone
- 3 to 6 months0.38%
- 6 to 12 months3.36%
- 1 to 3 years18.32%
- 3 to 5 years2.74%
- 5 to 10 years2.37%
- Over 10 years0.96%
Per cent of the fund's net assets, over the bonds whose maturity date is known; perpetual bonds have none.
- Largest borrowerLending to one borrower. The share of the fund lent to a single company or group of companies, government bonds left out.
- 4.74%BHARTI TELECOM LIMITED
- Top 5 borrowersLending to one borrower. The share of the fund lent to a single company or group of companies, government bonds left out.
- 13.87%
- Top 10 borrowersLending to one borrower. The share of the fund lent to a single company or group of companies, government bonds left out.
- 20.01%
Per cent of the fund's net assets. Lent outside the government: 22.02% of the fund, to 14 borrowers; the borrower is named for 100.00% of it, its group for 7.79%.
Bought and sold
Sep 2026 against Aug 2026, 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.
- 2137.83% of the fund
- 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.
- 2132.58% 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.
- 3
- TrimmedTrimmed. Holdings with fewer units than the month before. Where the fund states no units, a weight that fell by more than a tenth.
- 31
- UnchangedUnchanged. Holdings with the same number of units as the month before. Their weight can still move with the price.
- 48
- 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.
- 32.58%
- 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.
- 41.07%
Changes in Sep 2026
| 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). | Change in weight. The holding's weight this month less its weight the month before, in percentage points; a price move alone changes it. | ||||
|---|---|---|---|---|---|
| 7.79% Bajaj Housing Finance Limited 2031 | New | 2.36% | 0.00% | +2.36 pts | +12,50,000 |
| 7.7% Bajaj Finance Limited 2029 | New | 1.89% | 0.00% | +1.89 pts | +10,00,000 |
| HDFC Bank | Added | 6.04% | 4.24% | +1.80 pts | +1,25,100 |
| Reliance Industries | Added | 5.40% | 3.85% | +1.55 pts | +76,200 |
| 8.55% Aditya Birla Real Estate Limited 2029 | New | 0.96% | 0.00% | +0.96 pts | +5,00,000 |
| 7.75% Small Industries Dev Bank of India 2027 | Sold out | – | 0.94% | −0.94 pts | −5,00,000 |
| 7.34% Small Industries Dev Bank of India 2029 | Sold out | – | 0.94% | −0.94 pts | −5,00,000 |
| ICICI Bank | Trimmed | 5.87% | 6.59% | −0.72 pts | −9,800 |
| Gland Pharma | Sold out | – | 0.56% | −0.56 pts | −10,200 |
| 7.71% Government of India 2066 | Added | 0.96% | 0.48% | +0.49 pts | +2,50,000 |
| Sai Life Sciences | New | 0.48% | 0.00% | +0.48 pts | +16,500 |
| 6.68% Government of India 2040 | Sold out | – | 0.46% | −0.46 pts | −2,50,000 |
| 7.29% Small Industries Dev Bank of India 2029 | New | 0.38% | 0.00% | +0.38 pts | +2,00,000 |
| Indian Bank 2027 | New | 0.38% | 0.00% | +0.38 pts | +2,00,000 |
| Canara Bank 2026 | Sold out | – | 0.37% | −0.37 pts | −2,00,000 |
Weights are per cent of the fund's net assets; a change in weight is in percentage points. Securities only: 30 futures, options and cash lines that changed are not listed.
Holdings month by month
| Holding | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 | Jun 26 | Jul 26 | Aug 26 | Sep 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 HDFC Bank | 5.12% | 5.16% | 4.93% | 4.72% | 4.53% | 4.52%Added | 4.61% | 4.49% | 4.77% | 4.43% | 4.24% | 6.04%Added |
 ICICI Bank | 5.87%Cut | 5.94%Cut | 5.51%Cut | 5.67% | 5.80% | 5.43%Cut | 5.49% | 5.52% | 6.13%Added | 6.34% | 6.59%Added | 5.87%Cut |
 Reliance Industries | 4.12% | 4.29% | 4.18% | 3.79% | 3.80% | 4.12%Added | 4.43%Added | 4.13% | 3.90%Cut | 3.90% | 3.85% | 5.40%Added |
 Bajaj Finance | 4.83% | 4.75% | 4.39% | 4.22% | 4.54% | 4.05%Added | 4.57% | 4.48% | 4.91% | 5.53% | 5.17% | 4.79% |
| 7.4% Bharti Telecom Limited 2029 | – | – | – | 3.57%Bought | 3.60% | 3.83% | 3.71% | 3.72% | 3.71% | 3.67% | 3.70% | 3.77% |
 Ambuja Cements | 5.38% | 5.17% | 5.08% | 4.75% | 4.69% | 4.05% | 4.33% | 4.41% | 4.12% | 4.18% | 3.92% | 3.73% |
 Sun Pharmaceutical Industries | 3.07% | 3.29% | 3.00% | 2.80%Cut | 3.06% | 3.34% | 3.32% | 3.34% | 3.42% | 3.62% | 3.65% | 3.30%Cut |
| 364 Days Tbill 2027 | – | – | – | – | – | – | – | – | – | 2.68%Bought | 2.72% | 2.78% |
| 7.79% Bajaj Housing Finance Limited 2031 | – | – | – | – | – | – | – | – | – | – | – | 2.36%Bought |
 Mahindra & Mahindra | 2.78%Cut | 2.96% | 2.84% | 2.68% | 2.67% | 2.50% | 2.53% | 2.51% | 2.34%Cut | 2.56% | 2.50% | 2.30% |
| 8.37% REC Limited 2028 | – | – | – | 1.86%Bought | 1.87% | 2.00% | 1.92% | 1.94% | 1.94% | 1.92% | 1.92% | 1.96% |
| 8.02% Cholamandalam Investment and Finance Company Ltd 2029 (FRN) | – | – | – | – | – | – | – | 0.57%Bought | 1.89%Added | 1.87% | 1.88% | 1.93% |
| 7.44% National Bank For Agriculture and Rural Development 2028 | – | – | – | 1.81%Bought | 1.82% | 1.95% | 1.88% | 1.89% | 1.89% | 1.87% | 1.88% | 1.92% |
| 6.94% Government of India 2036 | – | – | – | – | – | – | – | 1.90%Bought | 1.91% | 1.88% | 1.88% | 1.89% |
| 7.7% Bajaj Finance Limited 2029 | – | – | – | – | – | – | – | – | – | – | – | 1.89%Bought |
Per cent of the fund's net assets at each month end, Oct 2025 to Sep 2026. 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 turnover, per cent of assets a year
- TurnoverPortfolio turnover. How much of the portfolio the fund bought or sold over the last year, as a share of its assets, as the fund house states it.
Highest 419.0% in Apr 2026
Risk ratios
NAV to 23 Oct 2026
Each bar runs from the lowest to the highest figure among the Direct plans of Equity Savings funds (21 funds) over the same 3 years; the tick is their average and the dot this fund.
How much the NAV moves
Standard deviationStandard deviation. How far the fund's monthly returns spread around their average, stated as a yearly figure: the wider the spread, the more the NAV moves.5.61%
2.70%Lowest5.09%Average8.26%Highest
Downside deviationDownside deviation. Standard deviation counting only the months in which the fund lost money, stated as a yearly figure.2.99%
1.26%Lowest2.84%Average5.26%Highest
Sharpe ratioSharpe ratio. The monthly return above the 91-day Treasury bill yield, divided by its standard deviation and stated for a year: the extra return for each unit of movement in the NAV.0.52
0.07Lowest0.41Average1.11Highest
Sortino ratioSortino ratio. The monthly return above the 91-day Treasury bill yield, divided by how far it fell below that yield and stated for a year: the extra return for each unit of movement on the way down.0.78
0.10Lowest0.60Average1.77Highest
From the Direct Growth plan's NAV, since an IDCW plan's NAV falls by each payout.
Largest falls
| Largest over | FallLargest fall. The biggest drop in NAV from a high to the low that followed, before the NAV went back above that high. | High on | Low on | Back at the highBack at the high. The first day the NAV closed at or above the high it had fallen from. |
|---|---|---|---|---|
| 1 and 3 years | −4.64% | 11 Feb 2026 | 30 Mar 2026 | 18 Jun 2026 |
| 5 years | −7.81% | 17 Jan 2022 | 20 Jun 2022 | 8 Sep 2022 |
| Since Feb 2017 | −20.46% | 20 Feb 2020 | 23 Mar 2020 | 11 Aug 2020 |
Risk level by month
| Months | FundRiskometer. 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. | 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. |
|---|---|---|
| Mar 2025 to Aug 202618 months | Moderately High | ModerateNifty Equity Savings Index |
| Aug 2024 to Feb 20257 months | Moderate | ModerateNifty Equity Savings TRI |
| Oct 2021 to Jul 202434 months | Moderately High | ModerateNifty Equity Savings TRI |
The riskometer at each month end, the fund's and its benchmark's. A month with none on record is left out.
Mahindra Manulife Equity Savings Fund managers
Managers now
| Manager | Return in the manager's time. The change in the plan's NAV from the day the manager took the fund over to the latest NAV; past a year, the yearly rate that would compound to the same change. | Benchmark over the same days. The change in the fund's benchmark index over the same days as the manager's return, worked out the same way, with the dividends of the index's companies added back. | Difference from the benchmark. The fund's return in the manager's time less its benchmark's over the same days, in percentage points. | Portfolio changed after the handover. How much of the portfolio was different three months after the manager took over: half the sum of every holding's change in weight, with each side's holdings scaled to add up to 100 so a move into cash does not count. | Portfolio changed before the handover. The same measure over the three months before the manager took over, since portfolios change anyway. | Assets the manager runs. The latest monthly size of every fund the manager runs now, added up; a fund run with others counts in full for each of its managers, and the line under it counts only the funds they run alone. | ||
|---|---|---|---|---|---|---|---|---|
| Renjith SivaramEquity Portion; Equity portion | Jul 2023 | +9.77%a year | – | – | 28.0% | 27.2% | 4 | ₹3,672 Cr |
| Navin MattaEquity Portion; Equity portion | Jan 2026 | +2.25%over 288 days | – | – | 21.4% | 14.7% | 5 | ₹2,972 Cr |
| Rahul PalDebt Portion; Debt portion | Feb 2017 | +10.07%a year | – | – | – | – | 11 | ₹7,491 Cr |
| Kush SonigaraDebt Portion; Debt portion | Jan 2026 | +2.25%over 288 days | – | – | 21.4% | 14.7% | 4 | ₹1,859 Cr |
| Pranav PatelDedicated fund manager for managing overseas investments | Jan 2024 | +7.50%a year | – | – | 12.3% | 21.2% | 4 | ₹1,928 Cr |
Returns are the direct plan's growth NAV, from the day each took over to the latest NAV, beside the benchmark over the same days.
Other funds they run
| Fund | Return in the manager's time. The change in the plan's NAV from the day the manager took the fund over to the latest NAV; past a year, the yearly rate that would compound to the same change. | Benchmark over the same days. The change in the fund's benchmark index over the same days as the manager's return, worked out the same way, with the dividends of the index's companies added back. | Difference from the benchmark. The fund's return in the manager's time less its benchmark's over the same days, in percentage points. | ||
|---|---|---|---|---|---|
| Mahindra Manulife Business Cycle FundRenjith Sivaram | Sep 2023 | +15.49%a year | +9.07% | +6.43 pts | ₹1,291 Cr |
| Mahindra Manulife Multi Asset allocation FundRenjith Sivaram | Mar 2024 | +14.13%a year | – | – | ₹1,214 Cr |
| Mahindra Manulife Manufacturing FundRenjith Sivaram | Jun 2024 | +2.65%a year | +2.79% | −0.15 pts | ₹648 Cr |
| Mahindra Manulife Multi Asset allocation FundNavin Matta | Jan 2026 | +2.40%over 288 days | – | – | ₹1,214 Cr |
| Mahindra Manulife Manufacturing FundNavin Matta | Dec 2025 | +4.63%over 318 days | +0.03% | +4.60 pts | ₹648 Cr |
| Mahindra Manulife Consumption FundNavin Matta | Oct 2024 | −3.19%a year | −1.70% | −1.49 pts | ₹453 Cr |
| Mahindra Manulife Arbitrage FundNavin Matta | Oct 2024 | +6.19%a year | – | – | ₹138 Cr |
| Mahindra Manulife Aggressive Hybrid FundRahul Pal | Jul 2019 | +15.95%a year | – | – | ₹2,798 Cr |
| Mahindra Manulife Multi Asset allocation FundRahul Pal | Mar 2024 | +14.13%a year | – | – | ₹1,214 Cr |
| Mahindra Manulife Liquid FundRahul Pal | Jul 2016 | +6.22%a year | – | – | ₹1,041 Cr |
Up to ten funds a manager, largest first. Returns are the direct plan's.
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. | Shared holdings. The number of securities both funds hold, cash and futures left out. | |
|---|---|---|
| Axis Equity Savings FundAxis Mutual Fund | 37.70% | 33 |
| ICICI Prudential Equity Savings FundICICI Prudential Mutual Fund | 35.98% | 35 |
| Nippon India Equity Savings FundNippon India Mutual Fund | 34.45% | 28 |
| HDFC Equity Savings FundHDFC Mutual Fund | 34.27% | 32 |
| SBI Equity Savings FundSBI Mutual Fund | 33.73% | 34 |
| PGIM India Equity Savings FundPGIM India Mutual Fund | 33.41% | 29 |
| Aditya Birla Sun Life Equity Savings FundAditya Birla Sun Life Mutual Fund | 32.75% | 34 |
| Sundaram Equity Savings FundSundaram Mutual Fund | 30.00% | 18 |
| Baroda BNP Paribas Equity Savings FundBaroda BNP Paribas Mutual Fund | 28.69% | 27 |
| DSP Equity Savings FundDSP Mutual Fund | 28.48% | 28 |
Portfolios for Sep 2026. Overlap is per cent of the portfolio the two funds hold in common.
Overlap with the fund house's other funds
| 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. | |
|---|---|
| Mahindra Manulife Multi Asset allocation FundMahindra Manulife Mutual Fund | 50.55% |
| Mahindra Manulife Arbitrage FundMahindra Manulife Mutual Fund | 32.25% |
| Mahindra Manulife Aggressive Hybrid FundMahindra Manulife Mutual Fund | 30.39% |
| Mahindra Manulife Balanced Advantage FundMahindra Manulife Mutual Fund | 28.19% |
As the fund house states it, for Sep 2026.
Mahindra Manulife Equity Savings 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 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.
Largest ₹1.00 a unit, Mar 2024.
Every payout
| IDCW 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 yield. A payout as a share of the plan's NAV on the record date, before the NAV fell by the amount paid. | NAV before | NAV after | |
|---|---|---|---|---|
| 18 Sep 2026 | ₹0.25 | 1.42% | ₹17.6402 | ₹17.3681 |
| 30 Jun 2026 | ₹0.25 | 1.41% | ₹17.6763 | ₹17.4697 |
| 10 Mar 2026 | ₹0.25 | 1.43% | ₹17.4334 | ₹17.1195 |
| 22 Dec 2025 | ₹0.25 | 1.40% | ₹17.8642 | ₹17.6341 |
| 13 Mar 2025 | ₹0.50 | 3.02% | ₹16.5568 | ₹16.0739 |
| 14 Mar 2024 | ₹1.00 | 6.02% | ₹16.5999 | ₹15.5724 |
| 27 Feb 2023 | ₹1.00 | 6.76% | ₹14.7931 | ₹13.7817 |
| 17 Mar 2022 | ₹0.80 | 5.25% | ₹15.2298 | ₹14.3824 |
| 17 Sep 2021 | ₹0.40 | 2.60% | ₹15.3846 | ₹14.8782 |
| 22 Jan 2021 | ₹0.40 | 2.89% | ₹13.8283 | ₹13.3910 |
| 5 Aug 2019 | ₹0.062 | 0.56% | ₹10.9982 | ₹10.9897 |
| 27 Mar 2019 | ₹0.0531 | 0.48% | ₹11.0275 | ₹11.0171 |
All 12 payouts since 27 Mar 2019.
Changes to the fund
Newest first.
2026
- 1 AprExpenseExpense ratio stated under the new rules: a base ratio, with brokerage, levies and GST on top
2021
- 30 JunBenchmarkBenchmark: NIFTY 50 TRI(55.00), CRISIL Composite Bond Index(30.00), CRISIL Liquid Debt Index(15.00) to Nifty Equity Savings TRI
Fund details
Objective
The Scheme seeks to generate long term capital appreciation and also income through investments in equity and equity related instruments, arbitrage opportunities and investments in debt and money market instruments. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.
Asset allocation
- Equity and Equity related Securities of which: 65% - 85% (i)
- Equity and Equity Related Instruments (unhedged / Net Long Equity Exposure)*^: 15% - 40% (ii)
- Equity and Equity Related Instruments and derivatives including index futures, stock futures, index options, & stock options, etc. as part of hedged / arbitrage exposure (hedged) *: 25% - 70%
- Debt and Money Market Securities: 15% - 35%
- Units issued by REITs & InvITs: 0% - 10%
- Exchange Traded Commodity Derivatives (ETCDs)@, Gold ETFs, Silver ETFs and mutual fund units: 0% - 20%
- In the absence of suitable arbitrage opportunities, the investment manager may choose to have a lower equity exposure. In such defensive circumstances the asset allocation will be as per the below table: Equity and Equity related Securities of which: 45% - 70% (i)
- Equity and Equity Related Instruments (unhedged / Net Long Equity Exposure)*^: 30% - 65% (ii)
- Equity and Equity Related Instruments and derivatives including index futures, stock futures, index options, & stock options, etc. as part of hedged / arbitrage exposure (hedged) *: 5% - 15%
- Debt and Money Market Securities^: 30% - 55%
- Units issued by REITs & InvITs: 0% - 10%
- ETCDs@, Gold ETFs, Silver ETFs and mutual fund units : 0% - 20%
*Equity allocation is measured as the Gross exposure to equities, equity related instruments and derivatives. The Scheme will enter into derivatives transactions for hedging and/or portfolio balancing. The derivative positions will be hedged against corresponding positions in either equity or derivative markets depending on the strategies involved and execution costs. On the total portfolio level, the Scheme does not intend to take a net short exposure to equity markets. Unhedged positions in the portfolio (investments in equity shares without corresponding exposure to equity derivative) shall not exceed 40% of the net assets, under normal circumstances and 65% of the net assets, under defensive circumstances.
^ The Scheme may take exposure in equity derivative instruments (as part of the Unhedged Equity component) to the extent of 40% of the Unhedged Equity component. Further, the Scheme may use derivatives for such purposes as maybe permitted by the Regulations, including for the purpose of hedging and portfolio balancing, based on the opportunities available and subject to guidelines issued by SEBI from time to time.
Type of scheme
An open ended scheme investing in equity, arbitrage and debt
- BenchmarkBenchmark. The index the fund house chose to measure the fund against, in its total return form, with dividends added back.
- Nifty Equity Savings Index TRI
- Second benchmarkSecond benchmark. An additional index the fund house chose to compare the fund with, beside the first benchmark, which every fund of its category shares.
- CRISIL 10 Yr Gilt Index
- Risk level at launchRiskometer. 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.
- Moderately high
- New fund offer
- 10 Jan 2017 to 24 Jan 2017
- Units first allotted
- 1 Feb 2017
- Open for sale again
- 8 Feb 2017
- Price at the offer
- ₹10 a unit
- Minimum at the offer
- ₹1,000
Plans and codes
| Plan | AMFI code | ISIN | ISIN, reinvestment | MUTF_IN | First NAV |
|---|---|---|---|---|---|
| Direct Growth | 140444 | INF174V01184 | MAHI_MANU_EQUI_1LMF2XP | 8 Feb 2017 | |
| Regular Growth | 140447 | INF174V01150 | MAHI_MANU_EQUI_ZTMFAW | 8 Feb 2017 | |
| Direct IDCW | 140442 | INF174V01192 | INF174V01200 | MAHI_MANU_EQUI_1TQ52HI | 8 Feb 2017 |
| Regular IDCW | 140446 | INF174V01168 | INF174V01176 | MAHI_MANU_EQUI_17BDIWK | 8 Feb 2017 |
This fund
- Scheme information document (opens in a new tab)The fund's objective, terms, costs and risks in full
Factsheet
- Fund Factsheet - August 2026 (opens in a new tab)Mahindra Manulife Mutual Fund, Aug 2026
Statement of additional information
- SAI Mahindra Manulife Mutual Fund (opens in a new tab)Mahindra Manulife Mutual Fund, Oct 2026
Annual report
- Mahindra Manulife Mutual Fund Annual Report FY 2025-26 (opens in a new tab)Mahindra Manulife Mutual Fund, Mar 2026
- Mahindra Manulife Mutual Fund ABRIDGED Annual Report FY 2025-26 (opens in a new tab)Mahindra Manulife Mutual Fund, Mar 2026
Riskometer disclosure
- Disclosure on Risk-o-meter level of schemes - FY - 2025-26 (opens in a new tab)Mahindra Manulife Mutual Fund, Mar 2026
Portfolio overlap disclosure
- Portfolio Overlap - September 2026 (opens in a new tab)Mahindra Manulife Mutual Fund, Sep 2026