Mahindra Manulife Innovation Opportunities Fund Direct IDCW NAV today
AMFI: 154122ISIN: INF174V01DC0MUTF_IN: MAHI_MANU_INNO_1BGKB7BMahindra Manulife Mutual FundSectoral / Thematic funds
NAV ₹10.0686
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.
- ₹257 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.
- 0.98%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.
- 48.430 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.
- Very 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.
- 5430 Sep 2026
- LaunchedLaunch date. The day the fund first allotted units to investors, at the close of its new fund offer.
- 30 Jan 2026
Mahindra Manulife Innovation Opportunities 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 | −4.95% | −3.77% | – | – | – |
| 1 month | −9.65% | −6.54% | 198 of 254 | −8.23% | −9.5% to −6.6% |
| 3 months | −7.09% | −6.53% | 163 of 250 | −6.23% | −7.7% to −4.3% |
| 6 months | −1.69% | −5.44% | 103 of 250 | −3.43% | −6.3% to +2.1% |
| 1 year | Needs a year | – | – | −5.19% | −9.3% to +0.6% |
| 3 years | Needs 3 years | – | – | +12.40% | +8.6% to +16.8% |
| 5 years | Needs 5 years | – | – | +10.89% | +8.1% to +14.6% |
| 10 years | Needs 10 years | – | – | +13.74% | +11.5% to +15.5% |
₹10,000 put in on 2 Feb 2026 is ₹10,048 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 500 TRI, over the same days as the fund. Rank, median and middle half among the Direct plans of Sectoral / Thematic funds, each fund's return to its latest NAV on or before 25 Oct 2026.
Mahindra Manulife Innovation Opportunities 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.
- 1.58 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.
- 0.98%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.
- 2.56%Over the last 30 days filed
Total expense ratio, month by month
- Regular plan
- Direct plan
Direct plan at its highest since Jan 2026 in the latest month.Direct plan lowest 0.50%, Mar 2026.
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. | 0.70% | 2.10% |
| Brokerage | 0.05% | 0.05% |
| Transaction costs | None | None |
| Statutory levies | 0.23% | 0.41% |
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
Exit Load (as % of NAV) #: -An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment; -Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). # Applicable for normal subscriptions / redemptions including transactions under special products such as SIP, SWP, switches, etc. offered by the AMC. For detailed load structure disclosure, please refer SID.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
- Accepted
- Switches
- Accepted
- Lock-inLock-in. The time after each purchase during which those units cannot be sold.
- None
- SIP minimum
- WeeklyMonthly: 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 Innovation Opportunities 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.
- ₹244 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.
- 3.3%Of the quarter's average
Average assets by quarter, by plan
- Regular plans
- Direct plans
The latest quarter is the largest since the quarter to Mar 2026.
Assets at each month end
Highest ₹263 Cr, Aug 2026.Lowest ₹158 Cr, Mar 2026.
Mahindra Manulife Innovation Opportunities 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. | 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. | |||
|---|---|---|---|---|---|
| EternalRetailing | Large cap37th | 3.79% | 9.73 | 3,04,000 | Feb 2026 |
| Bajaj FinanceFinance | Large cap7th | 2.73% | 7.01 | 73,025 | Jan 2026or earlier |
| One 97 CommunicationsFinancial Technology (Fintech) | Mid cap146th | 2.64% | 6.78 | 40,393 | Aug 2026 |
| ICICI BankBanks | Large cap5th | 2.61% | 6.71 | 50,762 | Jan 2026or earlier |
| Aditya Birla CapitalFinance | Mid cap123rd | 2.60% | 6.69 | 1,75,762 | Feb 2026 |
| Acutaas ChemicalsPharmaceuticals & Biotechnology | Small cap347th | 2.59% | 6.65 | 20,270 | Jan 2026or earlier |
| Torrent PharmaceuticalsPharmaceuticals & Biotechnology | Large cap61st | 2.57% | 6.60 | 13,750 | Apr 2026 |
| Reliance IndustriesPetroleum Products | Large cap1st | 2.53% | 6.49 | 54,675 | Jan 2026or earlier |
| Belrise IndustriesAuto Components | Small cap375th | 2.44% | 6.26 | 2,60,500 | Jan 2026or earlier |
| Karur Vysya BankBanks | Small cap279th | 2.32% | 5.96 | 1,83,500 | Apr 2026 |
| Aster DM Quality CareHealthcare Services | Mid cap244th | 2.29% | 5.87 | 84,250 | Jan 2026or earlier |
| Divi's LaboratoriesPharmaceuticals & Biotechnology | Large cap50th | 2.26% | 5.81 | 6,250 | Feb 2026 |
| Dr. Lal Path LabsHealthcare Services | Small cap309th | 2.23% | 5.74 | 28,871 | Jan 2026or earlier |
| Axis BankBanks | Large cap15th | 2.20% | 5.65 | 46,075 | Jan 2026or earlier |
| DelhiveryTransport Services | Small cap253rd | 2.13% | 5.48 | 1,33,750 | Feb 2026 |
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. | ||
|---|---|---|
| Triparty Repo | 2.34% | 6.02 |
| Margin placed with CCIL & ARCL | 0.09% | 0.22 |
| Net Receivables / (Payables) | 0.04% | 0.09 |
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.
- 3.79%Eternal
- Top 5 holdingsTop 5 holdings. The share of the fund held in its five largest positions.
- 14.36%
- Top 10 holdingsTop 10 holdings. The share of the fund held in its ten largest positions.
- 26.80%
- Effective holdingsEffective number of holdings. The number of equal-sized positions that would be as concentrated as the fund's actual weights.
- 49.1Taken over 97.53% 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 shares97.53%
- Cash and receivables2.47%
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 cap40.15%Category 49.50%
- Mid cap34.91%Category 21.62%
- Small cap24.94%Category 26.68%
Per cent of the fund's Indian shares. By the list for the six months to Jun 2026. Category is the average of 249 Sectoral / Thematic 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.17sectors
- Financial Services21.90%Category 21.68%
- Healthcare17.56%Category 12.70%
- Capital Goods10.68%Category 9.90%
- Services7.94%Category 2.61%
- Automobile And Auto Components6.50%Category 9.16%
- Consumer Services4.98%Category 5.61%
- Power4.00%Category 2.77%
- Fast Moving Consumer Goods3.58%Category 4.73%
- Information Technology3.52%Category 5.12%
- Telecommunication3.36%Category 2.99%
- Chemicals3.21%Category 1.97%
- Oil Gas & Consumable Fuels2.53%Category 3.38%
- Construction1.95%Category 1.69%
- Metals & Mining1.85%Category 2.47%
- Textiles1.70%Category 0.46%
- Consumer Durables1.37%Category 3.48%
- Construction Materials0.91%Category 1.25%
Per cent of the fund's net assets, less the futures sold on its shares, Sep 2026. Category is the average of 254 Sectoral / Thematic funds. Category average. The sector's weight, less the futures sold on it, averaged over the 254 Sectoral / Thematic funds that disclosed a portfolio for Sep 2026. A fund holding none of the sector counts as 0.
Sector allocation month by month
| 9 months | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Financial Services11 companies | 21.90% | 23.31% | 18.59% | 20.02% | 19.46% | 18.87% | 17.10% | 17.58% | 3.17% | |
| Healthcare9 companies | 17.56% | 14.44% | 14.05% | 14.66% | 15.44% | 15.45% | 14.85% | 13.95% | 3.22% | |
| Capital Goods7 companies | 10.68% | 10.37% | 11.08% | 12.82% | 13.19% | 13.04% | 12.68% | 12.40% | 1.74% | |
| Services4 companies | 7.94% | 7.11% | 5.89% | 6.80% | 6.48% | 6.85% | 5.19% | 5.72% | 0.00% | |
| Automobile And Auto Components4 companies | 6.50% | 6.68% | 6.69% | 7.72% | 8.00% | 8.42% | 8.78% | 9.38% | 2.11% | |
| Consumer Services2 companies | 4.98% | 5.11% | 5.37% | 5.34% | 5.56% | 5.97% | 6.44% | 6.59% | 0.00% | |
| Power3 companies | 4.00% | 2.84% | 2.42% | 1.59% | 1.72% | 1.73% | 1.68% | 1.68% | 0.92% | |
| Fast Moving Consumer Goods2 companies | 3.58% | 3.44% | 3.91% | 3.89% | 3.92% | 4.08% | 3.57% | 3.75% | 0.00% | |
| Information Technology2 companies | 3.52% | 4.94% | 5.21% | 5.15% | 5.75% | 5.16% | 5.84% | 5.79% | 1.84% | |
| Telecommunication2 companies | 3.36% | 3.49% | 3.92% | 4.54% | 4.71% | 4.54% | 4.12% | 4.49% | 0.44% | |
| Chemicals2 companies | 3.21% | 3.28% | 3.41% | 4.04% | 4.09% | 4.12% | 1.95% | 1.74% | 0.93% | |
| Oil Gas & Consumable Fuels1 company | 2.53% | 2.15% | 2.44% | 2.78% | 3.01% | 3.48% | 3.77% | 2.45% | 0.92% |
Per cent of the fund's net assets, less the futures sold on its shares, at each month end, Jan 2026 to Sep 2026.
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.
- 45.53% 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.
- 11.25% 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.
- 7
- TrimmedTrimmed. Holdings with fewer units than the month before. Where the fund states no units, a weight that fell by more than a tenth.
- 1
- UnchangedUnchanged. Holdings with the same number of units as the month before. Their weight can still move with the price.
- 42
- 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.
- 1.25%
- 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.
- 8.53%
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. | ||||
|---|---|---|---|---|---|
| Senores Pharmaceuticals | New | 1.94% | 0.00% | +1.94 pts | +36,000 |
| Zydus Lifesciences | New | 1.54% | 0.00% | +1.54 pts | +34,000 |
| Infosys | Sold out | – | 1.25% | −1.25 pts | −29,050 |
| HBL Engineering | New | 1.07% | 0.00% | +1.07 pts | +34,705 |
| Smartworks Coworking Spaces | Added | 2.03% | 1.02% | +1.00 pts | +50,000 |
| Clean Max Enviro Energy Solutions | New | 0.98% | 0.00% | +0.98 pts | +18,881 |
| Reliance Industries | Added | 2.53% | 2.15% | +0.38 pts | +10,500 |
| Crompton Greaves Consumer Electricals | Added | 1.37% | 1.01% | +0.36 pts | +56,000 |
| Anthem Biosciences | Trimmed | 0.94% | 1.24% | −0.30 pts | −8,500 |
| 360 ONE WAM | Added | 1.76% | 1.48% | +0.28 pts | +10,704 |
| Adani Energy Solutions | Added | 1.94% | 1.74% | +0.21 pts | +5,800 |
| Coforge | Added | 1.97% | 2.08% | −0.10 pts | +1,500 |
| Piramal Finance | Added | 1.38% | 1.31% | +0.07 pts | +2,400 |
Weights are per cent of the fund's net assets; a change in weight is in percentage points.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Eternal | – | – | – | – | 4.31%Bought | 4.42%Added | 4.14% | 3.93% | 3.91% | 3.89% | 3.79% | 3.79% |
 Bajaj Finance | – | – | – | 1.38% | 3.97%Added | 3.29% | 3.34% | 3.02% | 3.16% | 3.12% | 2.94%Added | 2.73% |
 One 97 Communications | – | – | – | – | – | – | – | – | – | – | 2.64%Bought | 2.64% |
 ICICI Bank | – | – | – | 0.89% | 3.36%Added | 3.88%Added | 3.54% | 3.29% | 3.40% | 3.08% | 2.81% | 2.61% |
 Aditya Birla Capital | – | – | – | – | 1.78%Bought | 1.55% | 1.60% | 1.57% | 1.60% | 1.79%Added | 2.74%Added | 2.60% |
 Acutaas Chemicals | – | – | – | 0.92% | 3.10%Added | 3.79% | 3.34% | 3.23%Cut | 2.65%Cut | 2.03% | 2.44%Added | 2.59% |
 Torrent Pharmaceuticals | – | – | – | – | – | – | 1.89%Bought | 1.86% | 2.05%Added | 2.46%Added | 2.65%Added | 2.57% |
 Reliance Industries | – | – | – | 0.92% | 2.45%Added | 3.77%Added | 3.48% | 3.01% | 2.78% | 2.44% | 2.15% | 2.53%Added |
 Belrise Industries | – | – | – | 0.70% | 2.02%Added | 2.06% | 2.05% | 1.95% | 2.03% | 1.75% | 2.30%Added | 2.44% |
 Karur Vysya Bank | – | – | – | – | – | – | 2.01%Bought | 1.85% | 1.79% | 1.80% | 2.43%Added | 2.32% |
 Aster DM Quality Care | – | – | – | 0.69% | 2.71%Added | 2.86% | 2.60% | 2.52% | 2.57% | 2.34% | 2.42%Added | 2.29% |
 Divi's Laboratories | – | – | – | – | 2.47%Bought | 2.36% | 2.24% | 2.15% | 2.00% | 2.13% | 2.25% | 2.26% |
 Dr. Lal Path Labs | – | – | – | 0.93% | 2.29%Added | 2.40%Added | 2.18% | 2.39% | 2.31% | 2.33% | 2.12% | 2.23% |
 Axis Bank | – | – | – | 0.90% | 3.00%Added | 2.87%Added | 2.72% | 2.58% | 3.02%Added | 2.40% | 2.28% | 2.20% |
 Delhivery | – | – | – | – | 2.48%Bought | 2.46% | 2.39% | 2.16% | 2.13% | 1.89% | 2.32%Added | 2.13% |
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 3.0% in Sep 2026
Risk ratios
NAV to 23 Oct 2026
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. |
|---|---|---|---|---|
| Since Feb 2026 | −11.41% | 27 Aug 2026 | 23 Oct 2026 | Not yet |
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. |
|---|---|---|
| Jan 2026 to Aug 20268 months | Very High | Very HighNifty 500 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 Innovation Opportunities 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. | ||
|---|---|---|---|---|---|---|---|---|
| Kirti DalviPrimary | Jan 2026 | +5.71%over 256 days | −1.74% | +7.45 pts | 51.8% | – | 6 | ₹9,895 Cr₹2,753 Cr alone |
| Renjith Sivaram RadhakrishnanComanage | Jan 2026 | +5.71%over 256 days | −1.74% | +7.45 pts | 51.8% | – | 1 | ₹257 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 Aggressive Hybrid FundKirti Dalvi | Dec 2025 | −6.39%over 318 days | – | – | ₹2,798 Cr |
| Mahindra Manulife Large & Mid Cap FundKirti Dalvi | Dec 2025 | −0.79%over 318 days | −5.26% | +4.46 pts | ₹2,753 Cr |
| Mahindra Manulife Focused FundKirti Dalvi | Jul 2026 | −6.23%over 87 days | −4.41% | −1.82 pts | ₹1,930 Cr |
| Mahindra Manulife Flexi Cap FundKirti Dalvi | Jul 2026 | −3.84%over 87 days | −4.41% | +0.57 pts | ₹1,510 Cr |
| Mahindra Manulife Large Cap FundKirti Dalvi | Dec 2025 | −8.91%over 318 days | −8.40% | −0.51 pts | ₹647 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. | |
|---|---|---|
| HDFC Innovation FundHDFC Mutual Fund | 28.67% | 19 |
| ICICI Prudential Innovation FundICICI Prudential Mutual Fund | 28.36% | 20 |
| Tata India Innovation FundTata Mutual Fund | 27.79% | 17 |
| Union Business Cycle FundUnion Mutual Fund | 26.50% | 17 |
| Baroda BNP Paribas Innovation FundBaroda BNP Paribas Mutual Fund | 26.30% | 14 |
| Nippon India Innovation FundNippon India Mutual Fund | 25.92% | 16 |
| Mahindra Manulife Business Cycle FundMahindra Manulife Mutual Fund | 25.69% | 17 |
| Invesco India ESG Integration Strategy FundInvesco Mutual Fund | 25.22% | 11 |
| JioBlackRock Sector Rotation FundJio BlackRock Mutual Fund | 24.93% | 46 |
| Bandhan Business Cycle FundBandhan Mutual Fund | 24.46% | 16 |
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 Large & Mid Cap FundMahindra Manulife Mutual Fund | 39.41% |
| Mahindra Manulife Flexi Cap FundMahindra Manulife Mutual Fund | 34.95% |
| Mahindra Manulife Mid Cap FundMahindra Manulife Mutual Fund | 34.70% |
| Mahindra Manulife Large Cap FundMahindra Manulife Mutual Fund | 26.98% |
| Mahindra Manulife Business Cycle FundMahindra Manulife Mutual Fund | 25.25% |
| Mahindra Manulife ELSS Tax Saver FundMahindra Manulife Mutual Fund | 24.50% |
| Mahindra Manulife Multi Cap FundMahindra Manulife Mutual Fund | 23.05% |
| Mahindra Manulife Value FundMahindra Manulife Mutual Fund | 22.49% |
| MahindraManulife Banking & Financial Services FundMahindra Manulife Mutual Fund | 20.41% |
| Mahindra Manulife Focused FundMahindra Manulife Mutual Fund | 20.37% |
As the fund house states it, for Sep 2026.
Changes to the fund
Newest first.
2026
- 1 AugExpenseBase expense ratio, direct plan: 0.55% to 0.70%+0.15 ptsExpense ratio change. The plan's typical expense ratio (the middle of its daily figures) in the month the change took effect, against the month before, in percentage points.
- 1 AprExpenseExpense ratio stated under the new rules: a base ratio, with brokerage, levies and GST on top
Fund details
Objective
The Scheme shall seek to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies following innovation theme. However, there is no assurance that the objective of the Scheme will be achieved.
Asset allocation
- Equity and Equity Related Instruments of companies following innovation theme^* - 80%-100%
- Equity and Equity Related Instruments of companies other than the those mentioned above* - 0%-20%
- Money Market Instrument / other liquid instruments@- 0%-20%
- Units of mutual funds$ (Including Gold & Silver ETFs): 0% - 20%
- Units Issued by InvITs - 0%-10%component of the Scheme. Investment in derivatives shall be for hedging, portfolio balancing and such other purposes as maybe permitted from time to time under the Regulations and subject to guidelines issued by SEBI/ RBI from time to time. The Scheme may utilize the entire available equity derivatives exposure limit as provided above, for hedging purpose. However, the equity derivatives exposure towards nonhedging purpose shall not exceed 20% of the net assets of the Scheme, subject to maximum derivatives exposure as defined above (i.e. 50% of the equity component of the Scheme). The margin money deployed on derivative positions would be included in the permissible Fixed Income Debt and Money Market Securities category.
*Including investment in units of REITs and Foreign Securities (including units/securities issued by overseas mutual funds). The investment in Foreign Securities (including units/securities issued by overseas mutual funds) shall be up to 20% of the net assets of the Scheme.Such investments in Foreign Securities by the Scheme shall be subject to and in compliance with various limits / other requirement(s) as specified under the Clause 13.11 of the SEBI Master Circular pertaining to overseas investments by mutual funds, as amended from time to time. Further, pursuant to SEBI’s letter reference no. SEBI/HO/OW/IMD- II/DOF3/P/25095 /2022 dated June 17, 2022, on an ongoing basis, the Scheme may make investments in Overseas Securities upto the headroom available without breaching the overseas investment limits as of end of the day (EOD) of February 1, 2022, at Mutual Fund level. @other liquid instruments shall include cash, bank deposits with Scheduled Commercial Banks, Government Securities, Treasury bills, Repo on Government securities and any other instruments as specified by SEBI from time to time.
$The Scheme may also invest in units units of Overnight funds, Liquid funds and Money Market Mutual Funds upto 10% of the net assets of the Scheme subject to compliance with Clause 3 of Sixth Schedule of the Regulations read with Clause 13.14.1 of SEBI Master Circular. Subject to the Regulations and applicable regulatory guidelines as may be issued from time to time, the Scheme may also engage in Securities Lending not exceeding 20% of the net assets of the Scheme. Further, the Scheme shall not deploy more than 5% of the Scheme’s net assets in Securities Lending through a single intermediary. These limits shall be applicable at the time of participating in the Securities Lending by the Scheme.
Type of scheme
An open ended equity scheme investing in innovation theme.
- Stated category
- Thematic
- BenchmarkBenchmark. The index the fund house chose to measure the fund against, in its total return form, with dividends added back.
- Nifty 500 TRI (First Tier Benchmark)
- 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.
- Moderate
- New fund offer
- 9 Jan 2026 to 23 Jan 2026
- Units first allotted
- 30 Jan 2026
- Open for sale again
- 2 Feb 2026
- 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 | 154121 | INF174V01DA4 | MAHI_MANU_INNO_1XNNJUQ | 2 Feb 2026 | |
| Regular Growth | 154120 | INF174V01CX8 | MAHI_MANU_INNO_1SUU0MA | 2 Feb 2026 | |
| Direct IDCW | 154122 | INF174V01DC0 | INF174V01DB2 | MAHI_MANU_INNO_1BGKB7B | 2 Feb 2026 |
| Regular IDCW | 154119 | INF174V01CZ3 | INF174V01CY6 | MAHI_MANU_INNO_8CGBYR | 2 Feb 2026 |
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