HybridEquity SavingsDirectGrowthModerately High

Mahindra Manulife Equity Savings Fund

Q: What is the NAV of Mahindra Manulife Equity Savings Fund?

As of 05 Oct 2026, the NAV of Mahindra Manulife Equity Savings Fund is ₹25.41 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mahindra Manulife Equity Savings Fund delivered?

Mahindra Manulife Equity Savings Fund has returned +4.22% over 1 year, +9.10% per year over 3 years, +8.26% per year over 5 years and +10.06% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund charges an expense ratio of 1.27% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund's largest holdings are ICICI Bank Limited (6.6%), Bajaj Finance Ltd (5.2%), HDFC Bank Limited (4.2%), Ambuja Cements Limited (3.9%) and Reliance Industries Limited (3.9%). Holdings are disclosed monthly and change over time.

Q: How risky is Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 5.2% and its worst peak-to-trough fall in our sample was -20.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.50 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mahindra Manulife Equity Savings Fund's 0.50 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund is benchmarked against the Nifty Equity Savings Index TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund is managed by Renjith Sivaram Radhakrishnan, Navin Matta, Rahul Pal, Kush Sonigara and Pranav Nishith Patel at Mahindra Manulife.

Q: How is Mahindra Manulife Equity Savings Fund taxed?

Mahindra Manulife Equity Savings Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Mahindra Manulife Mutual Fund · Best Equity Savings Mutual Funds

NAV

₹25.41

+0.19% 1D

as of 05 Oct 2026

This is the Direct plan of Mahindra Manulife Equity Savings Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+4.14%absolute

52-week rangePrev NAV ₹25.36

Latest ₹25.41

Low ₹24.0675th percentile of its 52-week rangeHigh ₹25.85

Scorecard

★★★★☆4/5 vs 20 of 22 Equity Savings peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Equity Savings (same plan and option). 20 of the 22 Equity Savings funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceStrong

3Y CAGR +9.10% · ranks 5 of 20 Equity Savings funds

RiskHigh

Volatility 5.2% vs 4.5% category avg

CostAverage

1.3% expense vs 1.3% category avg

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

1-year return (+4.22%) beats the Equity Savings average (+3.27%)
3-year return (+9.10%) beats the Equity Savings average (+8.35%)
5-year return (+8.26%) beats the Equity Savings average (+7.50%)
Stronger risk-adjusted returns — Sharpe 0.50 vs 0.37 Equity Savings average
Consistent — positive in 100% of rolling 3-year windows

Concerns

More volatile than its Equity Savings peers (5.2% vs 4.5%)

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.27%

Category 1.31%▼0.04%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

19.22

Category 18.78▲0.44

Excess return per unit of total volatility (rf = 6.5%)

0.50

Category 0.37▲0.13

Scheme Info

Definitions

Plan

Direct · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

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.

Up to 1.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹1,000

Nifty Equity Savings Index TRI

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

08 Feb 2017

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-1.62%

Absolute return over the last 3 months (not annualized)

-0.42%

Absolute return over the last 6 months (not annualized)

+5.13%

Absolute return since 1 Jan of this year (not annualized)

+1.90%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+4.22%

3-year annualized return (CAGR)

+9.10%

5-year annualized return (CAGR)

+8.26%

10-year annualized return (CAGR)

—

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+10.06%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

5.24%

Excess return per unit of total volatility (rf = 6.5%)

0.50

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.67

Largest peak-to-trough decline over full history

-20.46%

Benchmark ratios

Not shown for Equity Savings — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Equity Savings)

Period	Fund	Category avg.	Diff
1M abs	-1.62%	-1.26%	-0.36%
3M abs	-0.42%	-0.32%	-0.10%
6M abs	+5.13%	+4.25%	+0.88%
1Y CAGR	+4.22%	+3.27%	+0.95%
3Y CAGR	+9.10%	+8.35%	+0.75%
5Y CAGR	+8.26%	+7.50%	+0.76%

Category average across peers in Equity Savings (up to 22 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 22 peers in Equity Savings

1Y return

+4.22%

Beats 77.3% · rank #6

3Y return

+9.10%

Beats 78.9% · rank #5

5Y return

+8.26%

Beats 81.3% · rank #4

Sharpe

0.50

Beats 73.7% · rank #6

Sortino

0.67

Beats 73.7% · rank #6

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.39L

Absolute

+23.10%

XIRR

+8.51%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Mahindra Manulife Equity Savings Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	+1.90%
2025	+8.90%
2024	+10.14%
2023	+16.60%
2022	+4.24%
2021	+18.36%
2020	+15.15%
2019	+10.79%
2018	-1.36%
2017part	+14.06%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

2,378

Expense ratio

1.27%

AUM

₹528.21Cr

Portfolio turnover

404%

Exit load

P/E ratio

19.2

P/B ratio

3.6

Avg market cap

₹4,83,714Cr

P/E & P/B are portfolio-weighted harmonic means across 60 of 63 equity holdings (63% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Equity Savings

Compare all


Mahindra Manulife Equity Savings FundThis fund Mahindra Manulife · Direct · Growth	★★★★☆	+4.22%	+9.10%	+8.26%	19.22	1.27%	₹528.21Cr
HSBC Equity Savings Fund HSBC · Direct · Growth	★★★★☆	+7.14%	+12.51%	—	19.51	1.41%	₹964.84Cr
Edelweiss Equity Savings Fund Edelweiss · Direct · Growth	★★★★★	+7.24%	+11.04%	+9.40%	15.90	1.14%	₹1,344Cr
Kotak Equity Savings Fund Kotak Mahindra · Direct · Growth	★★★☆☆	+2.81%	+9.76%	+9.69%	17.08	1.07%	₹9,931Cr
Mirae Asset Equity Savings Fund Mirae Asset · Direct · Growth	★★★★☆	+4.10%	+9.71%	+8.68%	20.83	0.73%	₹1,936Cr
Baroda BNP Paribas Equity Savings Fund Baroda BNP Paribas · Direct · Growth	★★☆☆☆	+3.63%	+9.01%	+7.97%	20.03	1.71%	₹276.53Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap74.1%
Mid cap16.0%
Small cap9.8%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity64.68%
Debt21.25%
Cash & Equivalents8.86%
Real Estate / REITs4.24%
Other1.01%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Mahindra Manulife Multi Asset Allocation Fund Mahindra Manulife · Multi Asset Allocation	67.5% of 53% equity	★★★★☆	0.58%	—
Invesco India Multi Asset Allocation Fund Invesco · Multi Asset Allocation	56.6% of 37% equity	★★★☆☆	0.54%	—
Nippon India ETF Nifty 100 Nippon India · Other ETFs	53.4%	—	0.51%	+7.29%
HDFC NIFTY 100 Index Fund HDFC · Index Funds	53.4%	★★★☆☆	0.35%	+7.44%
Zerodha Nifty 100 ETF Zerodha · Other ETFs	53.4%	—	0.28%	—
Axis Nifty 100 Index Fund Axis · Index Funds	53.3%	★★★★☆	0.26%	+7.57%
Bandhan Nifty 100 Index Fund Bandhan · Index Funds	53.3%	★★★★☆	0.18%	+7.65%
Parag Parikh Large Cap Fund PPFAS · Large Cap Fund	53.1%	—	0.32%	—

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-20.5%20 Feb 2020 → 23 Mar 2020
Fell over 32 days, back to the old high on 11 Aug 2020 — 5 months under water after the low.
-7.8%17 Jan 2022 → 20 Jun 2022
Fell over 5 months, back to the old high on 08 Sep 2022 — 3 months under water after the low.
-7.4%23 Jan 2018 → 26 Oct 2018
Fell over 9 months, back to the old high on 19 Mar 2019 — 5 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹528.21Cr

April - June 2026

-4%

since January - March 2026

−₹15.78Cr

est. net flow, last quarter

At or near its largest, ₹548.83Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

Mahindra Manulife Mutual Fund is a joint venture between Mahindra & Mahindra Financial Services and Manulife of Canada, which took a 49% stake in 2020 in what until then was Mahindra Mutual Fund. It runs a compact equity, hybrid and debt line-up.

Launched

03 Feb 2016

Total AUM

₹34,786Cr+5.0% QoQ

Avg AUM · April - June 2026

Website

mahindramanulife.com

Fund Managers

RRRenjith Sivaram RadhakrishnanManaging since 01 Jul 2023

Role

Fund Manager & Research Analyst – Equity

Total experience

15 years

Education

MBA(Finance) &, B-Tech (Mechanical Engineering)

Experience

• Fund Manager & Research Analyst. – Mahindra Manulife Investment Management Pvt. Ltd. Mahindra Manulife Investment Management Pvt. Ltd. (‘MMIMPL’) (June 1, 2023 until date) • Analyst – Mahindra Manulife Investment Management Pvt. Ltd. (‘MMIMPL’)(December 6, 2021 to May 31, 2023) • Analyst – ICCI Securities (June 2017 to November 2021) • Analyst – Antique Stock broking (January 2015 to 23rd June 2017) • Analyst – B&K Securities (January 2009 – January 2015)

Funds managed (4)

All schemes Renjith Sivaram Radhakrishnan runs →

NMNavin MattaManaging since 01 Jan 2026

Role

Manager & Research Analyst - Equity

Total experience

20 years

Education

PGDBA

Experience

Manager in the last 10 schemes under his years management • Fund Manager & • Co - Fund Manager of Research Analyst – Mahindra Manulife Equity, Mahindra Arbitrage Fund. Manulife Investment Management Private Limited (October 2024 – Until Date) • Investment advisor and Research Analyst – Equity, Mahindra Manulife Investment Management Private Limited (October 2021 – October 2024) • Research Analyst – Equity, Mahindra Manulife Investment Management Private Limited (July 2020 – October 2021) • Research Analyst - BOB Capital (August 2019 - May 2020) Manager in the last 10 schemes under his years management • Research Analyst - SAFE Enterprises (March 2019 - June 2019) • Research Analyst - Bajaj Allianz Life Insurance (June 2016 – March 2019) • Research Analyst - HDFC Securities (August 2014 – June 2016) • Research Analyst - Daiwa Capital (November 2010 – February 2014)

Funds managed (2)

All schemes Navin Matta runs →

RPRahul PalManaging since 01 Feb 2017

Role

Chief Investment Officer – Fixed Income

Total experience

23 years

Education

B.Com (H), ACA

Experience

• Chief Investment • Fund Manager of Officer – Fixed Mahindra Manulife Income, Low Duration Fund MMIMPL, and Mahindra (June 2022 Manulife Dynamic until date) Bond Fund • Head – Fixed • Co – Fund Manager Income, of Mahindra MMIMPL, Manulife Liquid (September 2015 Fund, Mahindra –May 2022); Manulife Overnight • Head Fixed Fund and Mahindra Income, Taurus Manulife Ultra Short Duration Asset Management Co. Fund Ltd. (May 2010 – • Fund Manager of September 2015); the Debt portion of • Fund Manager – Mahindra Manulife Equity Savings Fixed Income, Sundaram Asset Fund, Mahindra Management Co. Manulife Aggressive Hybrid Ltd. (May 2004 – May 2010). Fund, Mahindra Manulife Arbitrage Fund Mahindra Manulife Balanced Advantage Fund and

Funds managed (12)

All schemes Rahul Pal runs →

KSKush SonigaraManaging since 01 Jan 2026

Role

Senior Credit Analyst

Education

B.Com(FM), FRM

Experience

13years MMIMPL- Senior Credit Analyst - February 9, 2021 – until date MMIMPL- Manager - Research Analyst (Fixed Income) -June 16, 2016 – February 8,2021 Taurus Asset Management Co. Ltd. - Fixed Income Dealer – June 2014 – June 2016

PPPranav Nishith PatelManaging since 05 Jan 2024

Role

Research Analyst – Equity

Total experience

16 years

Education

B.E.(I.T) & M.Sc

Experience

MMIMPL - Research Analyst - Equity - April 18, 2022 - until date MSCI Services Pvt. Ltd - Vice President - May 2014 - April 2022

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Renjith Sivaram Radhakrishnan Navin Matta Rahul Pal

Top holdings

ICICI Bank Limited Bajaj Finance Ltd HDFC Bank Limited Ambuja Cements Limited Reliance Industries Limited Sun Pharmaceutical Industries Limited Mahindra & Mahindra Limited Larsen & Toubro Limited Canara Bank Jindal Steel Limited Kotak Mahindra Bank Ltd Bharti Airtel Limited

Mahindra Manulife in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Equity Savings funds

Equity savings funds split money across equity, arbitrage and debt. The hedged portion lowers risk, so they sit between hybrid and debt funds on the risk ladder while keeping equity taxation.

Frequently asked questions

What is the NAV of Mahindra Manulife Equity Savings Fund?

As of 05 Oct 2026, the NAV of Mahindra Manulife Equity Savings Fund is ₹25.41 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Mahindra Manulife Equity Savings Fund delivered?

Mahindra Manulife Equity Savings Fund has returned +4.22% over 1 year, +9.10% per year over 3 years, +8.26% per year over 5 years and +10.06% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund charges an expense ratio of 1.27% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund's largest holdings are ICICI Bank Limited (6.6%), Bajaj Finance Ltd (5.2%), HDFC Bank Limited (4.2%), Ambuja Cements Limited (3.9%) and Reliance Industries Limited (3.9%). Holdings are disclosed monthly and change over time.

How risky is Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 5.2% and its worst peak-to-trough fall in our sample was -20.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.50 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mahindra Manulife Equity Savings Fund's 0.50 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund is benchmarked against the Nifty Equity Savings Index TRI. Its alpha and beta on this page are measured against that index.

Who manages Mahindra Manulife Equity Savings Fund?

Mahindra Manulife Equity Savings Fund is managed by Renjith Sivaram Radhakrishnan, Navin Matta, Rahul Pal, Kush Sonigara and Pranav Nishith Patel at Mahindra Manulife.

How is Mahindra Manulife Equity Savings Fund taxed?

Mahindra Manulife Equity Savings Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.