DebtDynamic BondRegularIDCWModerate

Mahindra Manulife Dynamic Term Fund

Q: What is the NAV of Mahindra Manulife Dynamic Term Fund?

As of 01 Oct 2026, the NAV of Mahindra Manulife Dynamic Term Fund is ₹11.56 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mahindra Manulife Dynamic Term Fund delivered?

Mahindra Manulife Dynamic Term Fund has returned +1.39% over 1 year, -0.64% per year over 3 years, +0.66% per year over 5 years and +1.78% 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 Dynamic Term Fund?

Mahindra Manulife Dynamic Term Fund charges an expense ratio of 1.57% 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 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.

Q: 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 6.1% and its worst peak-to-trough fall in our sample was -9.1%. 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 -1.18 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 -1.18 means it has not compensated investors for its volatility over the window. Higher is better.

Q: 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.

Q: Who manages Mahindra Manulife Dynamic Term Fund?

Mahindra Manulife Dynamic Term Fund is managed by Rahul Pal and Kush Sonigara at Mahindra Manulife.

Q: 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.

Mahindra Manulife Mutual Fund · Best Dynamic Bond Mutual Funds

NAV

₹11.56

-0.11% 1D

as of 01 Oct 2026

This is the Regular plan of Mahindra Manulife Dynamic Term Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed when the fund house declares it, which is why this NAV sits below the growth plan of the same fund.

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NAV history

+1.56%CAGR

52-week rangePrev NAV ₹11.57

Latest ₹11.56

Low ₹11.2171st percentile of its 52-week rangeHigh ₹11.70

Scorecard

Not rated

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. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.

Performance—

Not enough Dynamic Bond peers to rank yet

Risk—

Volatility 6.1% (no category average yet)

Cost—

1.6% expense (no category average yet)

ConsistencyModerate

87% of rolling 3Y windows were positive

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.57%

Category —

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

—

Category —

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

-1.18

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

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

None

Exit Load

None

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

CRISIL Dynamic Bond A-III Index

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.

24 Aug 2018

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

Definitions

Absolute return over the last 1 month (not annualized)

-0.31%

Absolute return over the last 3 months (not annualized)

-0.40%

Absolute return over the last 6 months (not annualized)

+2.85%

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

+1.78%

Annualized returns (≥1Y — CAGR)

Definitions

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

+1.39%

3-year annualized return (CAGR)

-0.64%

5-year annualized return (CAGR)

+0.66%

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.

+1.78%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

6.06%

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

-1.18

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

-1.21

Largest peak-to-trough decline over full history

-9.09%

Benchmark ratios

Not shown for Dynamic Bond — 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 (Dynamic Bond)

Period	Fund	Category avg.	Diff
1M abs	-0.31%	—	—
3M abs	-0.40%	—	—
6M abs	+2.85%	—	—
1Y CAGR	+1.39%	—	—
3Y CAGR	-0.64%	—	—
5Y CAGR	+0.66%	—	—

Category average across peers in Dynamic Bond, 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.

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

₹6.06L

Absolute

+1.01%

XIRR

+0.41%

Value vs. invested

ValueInvested

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	+1.78%
2025	-1.21%
2024	-3.88%
2023	+5.88%
2022	+0.86%
2021	+2.43%
2020	-0.07%
2019	+7.31%
2018part	+1.78%

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

1,962

Expense ratio

1.57%

YTM (from holdings)

7.50%

Average maturity

15.91 years

Exit load

Nil

Taxation

Taxed as debt

This 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.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

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.

Peer comparison · Dynamic Bond

Compare all


Mahindra Manulife Dynamic Term FundThis fund Mahindra Manulife · Regular · Discretionary IDCW	—	+1.39%	-0.64%	+0.66%	—	—	—
360 ONE Dynamic Term Fund 360 One · Regular · IDCW	—	+4.47%	+7.62%	+6.47%	—	0.59%	—
360 ONE Dynamic Term Fund 360 One · Regular · IDCW	—	+4.47%	+7.62%	+6.47%	—	0.59%	—
Kotak Dynamic Term Fund Kotak Mahindra · Regular · Standard · IDCW	—	+4.37%	+6.92%	+5.64%	—	—	—
Bandhan Dynamic Term Fund Bandhan · Regular · Periodic IDCW	—	+5.97%	+6.78%	+5.28%	—	—	—
Bandhan Dynamic Term Fund Bandhan · Regular · IDCW	—	+5.97%	+6.78%	+5.27%	—	1.65%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt78.31%
Cash & Equivalents18.29%
Real Estate / REITs3.40%

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.

-9.1%11 Mar 2024 → 17 Mar 2025
Still below that high — 12 months down, and no recovery yet.
-7.2%09 Mar 2020 → 26 Mar 2020
Fell over 17 days, back to the old high on 31 Aug 2021 — 17 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.

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

RPRahul PalManaging since 20 Aug 2018

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

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

Rahul Pal

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 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.

Frequently asked questions

What is the NAV of Mahindra Manulife Dynamic Term Fund?

As of 01 Oct 2026, the NAV of Mahindra Manulife Dynamic Term Fund is ₹11.56 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 +1.39% over 1 year, -0.64% per year over 3 years, +0.66% per year over 5 years and +1.78% 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 1.57% 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 6.1% and its worst peak-to-trough fall in our sample was -9.1%. 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 -1.18 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 -1.18 means it has not compensated investors for its volatility over the window. 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.