Mahindra Manulife Dynamic Term Fund
Mahindra Manulife Mutual Fund · Best Dynamic Bond Mutual Funds
This is the Direct plan of Mahindra Manulife Dynamic Term 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.
NAV history
Scorecard
★★★☆☆3/5 vs 22 Dynamic Bond 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 Dynamic Bond (same plan and option).
3Y CAGR +7.42% · ranks 6 of 22 Dynamic Bond funds
Volatility 2.0% vs 2.2% category avg
0.4% expense vs 0.6% category avg
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 (+4.38%) beats the Dynamic Bond average (+3.66%)
- 3-year return (+7.42%) beats the Dynamic Bond average (+6.77%)
- Stronger risk-adjusted returns — Sharpe 0.46 vs 0.16 Dynamic Bond average
- Low expense ratio (0.42%) vs the Dynamic Bond average of 0.55%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
No significant concerns identified.
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Dynamic Bond)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -0.16% | -0.29% | +0.13% |
| 3M abs | -0.31% | -0.35% | +0.04% |
| 6M abs | +3.79% | +3.34% | +0.45% |
| 1Y CAGR | +4.38% | +3.66% | +0.72% |
| 3Y CAGR | +7.42% | +6.77% | +0.65% |
| 5Y CAGR | +5.98% | +6.10% | -0.12% |
Category average across peers in Dynamic Bond (up to 21 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 21 peers in Dynamic Bond
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into Mahindra Manulife Dynamic Term 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 | +3.68% | |
| 2025 | +7.23% | |
| 2024 | +9.63% | |
| 2023 | +7.06% | |
| 2022 | +1.96% | |
| 2021 | +3.55% | |
| 2020 | +6.92% | |
| 2019 | +8.45% | |
| 2018part | +2.22% |
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.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
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.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt78.31%
- Cash & Equivalents18.29%
- Real Estate / REITs3.40%
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.
Fund Managers
RPRahul PalManaging since 20 Aug 2018
Chief Investment Officer – Fixed Income
23 years
B.Com (H), ACA
• 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
- Mahindra Manulife Aggressive Hybrid Fund
- Mahindra Manulife Arbitrage Fund
- Mahindra Manulife Balanced Advantage Fund
- Mahindra Manulife Dynamic Bond Fund
- Mahindra Manulife Equity Savings Fund
- Mahindra Manulife Income Plus Arbitrage Active FOF
- Mahindra Manulife Liquid Fund
- Mahindra Manulife Low Duration Fund
- Mahindra Manulife Multi Asset Allocation Fund
- Mahindra Manulife Overnight Fund
- Mahindra Manulife Short Duration Fund
- Mahindra Manulife Ultra Short Duration Fund
KSKush SonigaraManaging since 01 Jan 2026
Senior Credit Analyst
B.Com(FM), FRM
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
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
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.
Aavinash Yogeshwar Joins TFS As Chief Human Resources Officer
BW People · 12h ago
Indian stocks face a cyclical correction, not a deeper earnings reset: Mahindra Manulife MF CIO
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scanx.trade · 4d ago
Mahindra Manulife Dynamic Term Fund - Regular Plan Portfolio
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Mahindra Manulife Dynamic Term Fund Regular-IDCW
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SIF segment poised to gain traction as investors look beyond traditional mutual funds: Mahindra Manulife CEO
Fortune India · 5d ago
Mahindra Manulife Mutual Fund debuts in SIF segment with an equity long-short fund
Livemint · 5d ago
NFO Alert: Mahindra Manulife Mutual Fund debuts in SIF segment with MSIF Equity Long-Short Fund
inkl · 6d ago
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 Dynamic Bond funds
Dynamic bond funds have no duration mandate at all: the manager moves between short and long bonds as their rate view changes. That hands one call — where rates go next — to the manager, so the outcome depends heavily on getting it right.
From the blog
Frequently asked questions
What is the NAV of Mahindra Manulife Dynamic Term Fund?
As of 05 Oct 2026, the NAV of Mahindra Manulife Dynamic Term Fund is ₹16.36 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Mahindra Manulife Dynamic Term Fund delivered?
Mahindra Manulife Dynamic Term Fund has returned +4.38% over 1 year, +7.42% per year over 3 years, +5.98% per year over 5 years and +6.23% 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 Dynamic Term Fund?
Mahindra Manulife Dynamic Term Fund charges an expense ratio of 0.42% 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 Dynamic Term Fund?
Mahindra Manulife Dynamic Term Fund's largest holdings are 7.71% Government of India 2066 (25.6%), 7.25% State Government Securities 2037 (9.9%), 7.24% Government of India 2055 (9.8%), 7.01% National Bank For Agriculture and Rural Development 2029 (8.0%) and 9.61% 360 One Prime Limited 2027 (5.1%). Holdings are disclosed monthly and change over time.
How risky is Mahindra Manulife Dynamic Term Fund?
Mahindra Manulife Dynamic Term Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 2.0% and its worst peak-to-trough fall in our sample was -2.3%. 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 0.46 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mahindra Manulife Dynamic Term Fund's 0.46 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of Mahindra Manulife Dynamic Term Fund?
Mahindra Manulife Dynamic Term Fund is benchmarked against the CRISIL Dynamic Bond A-III Index. Its alpha and beta on this page are measured against that index.
Who manages Mahindra Manulife Dynamic Term Fund?
Mahindra Manulife Dynamic Term Fund is managed by Rahul Pal and Kush Sonigara at Mahindra Manulife.
How is Mahindra Manulife Dynamic Term Fund taxed?
Mahindra Manulife Dynamic Term Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.