HybridDynamic Asset Allocation or Balanced AdvantageRegularGrowthHigh

Mahindra Manulife Balanced Advantage Fund

Q: What is the NAV of Mahindra Manulife Balanced Advantage Fund?

As of 05 Oct 2026, the NAV of Mahindra Manulife Balanced Advantage Fund is ₹14.40 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mahindra Manulife Balanced Advantage Fund delivered?

Mahindra Manulife Balanced Advantage Fund has returned +0.05% over 1 year, +8.67% per year over 3 years and +7.96% 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 Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund charges an expense ratio of 2.41% 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 Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund's largest holdings are ICICI Bank Limited (4.1%), 8.52% Muthoot Finance Limited 2028 (2.7%), 7.44% National Bank For Agriculture and Rural Development 2029 (2.7%), Bharti Airtel Limited (2.3%) and Reliance Industries Limited (2.3%). Holdings are disclosed monthly and change over time.

Q: How risky is Mahindra Manulife Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 10.2% and its worst peak-to-trough fall in our sample was -10.4%. 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 0.21 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mahindra Manulife Balanced Advantage Fund's 0.21 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Mahindra Manulife Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund is benchmarked against the Nifty 50 Hybrid Composite Debt 50: 50 Index TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Mahindra Manulife Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund is managed by Hemang Kapasi, Neelesh Dhamnaskar, Rahul Pal and Amit Garg at Mahindra Manulife.

Q: How is Mahindra Manulife Balanced Advantage Fund taxed?

Mahindra Manulife Balanced Advantage 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 Balanced Advantage Mutual Funds

NAV

₹14.40

+0.40% 1D

as of 05 Oct 2026

This is the Regular plan of Mahindra Manulife Balanced Advantage Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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Performance

-0.45%absolute

52-week rangePrev NAV ₹14.34

Latest ₹14.40

Low ₹13.3958th percentile of its 52-week rangeHigh ₹15.13

Scorecard

★★★☆☆3/5 vs 30 of 36 Dynamic Asset Allocation or Balanced Advantage 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 Asset Allocation or Balanced Advantage (same plan and option). 30 of the 36 Dynamic Asset Allocation or Balanced Advantage funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceStrong

3Y CAGR +8.67% · ranks 9 of 30 Dynamic Asset Allocation or Balanced Advantage funds

RiskHigh

Volatility 10.2% vs 8.4% category avg

CostAverage

2.4% expense vs 2.3% 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 (+0.05%) beats the Dynamic Asset Allocation or Balanced Advantage average (-0.78%)
3-year return (+8.67%) beats the Dynamic Asset Allocation or Balanced Advantage average (+7.53%)
Stronger risk-adjusted returns — Sharpe 0.21 vs 0.13 Dynamic Asset Allocation or Balanced Advantage average
Consistent — positive in 100% of rolling 3-year windows

Concerns

More volatile than its Dynamic Asset Allocation or Balanced Advantage peers (10.2% vs 8.4%)

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.41%

Category 2.29%▲0.12%

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

24.15

Category —

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

0.21

Category 0.13▲0.08

Scheme Info

Definitions

Plan

Regular · 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 3 months 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 3 months from the date of allotment of Units; - Nil - If Units are redeemed / switched-out after completion of 3 months 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 50 Hybrid Composite Debt 50: 50 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.

03 Jan 2022

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.93%

Absolute return over the last 3 months (not annualized)

-2.67%

Absolute return over the last 6 months (not annualized)

+6.32%

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)

+0.05%

3-year annualized return (CAGR)

+8.67%

5-year annualized return (CAGR)

—

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.

+7.96%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

10.19%

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

0.21

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

0.28

Largest peak-to-trough decline over full history

-10.41%

Benchmark ratios (vs Nifty 50 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 50 TRI

1.90%

Sensitivity to Nifty 50 TRI moves; 1 = moves with the index

0.69

How much of the fund's movement Nifty 50 TRI explains

85.9%

Excess return per unit of beta (market risk)

2.83

Active return over the benchmark per unit of tracking error

0.39

Annualized std dev of fund-minus-benchmark returns

5.90%

Fund's share of benchmark gains in up months (100 = matches index)

81.9%

Fund's share of benchmark losses in down months (lower is better)

62.0%

Computed vs the Nifty 50 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Dynamic Asset Allocation or Balanced Advantage)

Period	Fund	Category avg.	Diff
1M abs	-3.93%	-3.04%	-0.89%
3M abs	-2.67%	-2.45%	-0.22%
6M abs	+6.32%	+4.32%	+2.00%
1Y CAGR	+0.05%	-0.78%	+0.83%
3Y CAGR	+8.67%	+7.53%	+1.14%
5Y CAGR	—	+7.09%	—

Category average across peers in Dynamic Asset Allocation or Balanced Advantage (up to 36 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 36 peers in Dynamic Asset Allocation or Balanced Advantage

1Y return

+0.05%

Beats 62.9% · rank #14

3Y return

+8.67%

Beats 72.4% · rank #9

5Y return

—

Sharpe

0.21

Beats 58.6% · rank #13

Sortino

0.28

Beats 58.6% · rank #13

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

₹3.60L

Current value

₹3.74L

Absolute

+3.91%

XIRR

+2.65%

Value vs. invested

ValueInvested

36 monthly installments of ₹10,000 into Mahindra Manulife Balanced Advantage 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	Nifty 50 TRI	Diff
2026part	-1.78%	-12.85%	+11.07%
2025	+4.14%	+11.97%	-7.83%
2024	+14.14%	+10.16%	+3.98%
2023	+19.91%	+21.69%	-1.78%
2022part	+2.79%	—	—

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; those years show no benchmark comparison.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Fund manager change — now managed by Hemang Kapasi
05 Oct 2026

History points

1,171

Expense ratio

2.41%

AUM

₹886.08Cr

Portfolio turnover

83%

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

24.1

P/B ratio

4.1

Avg market cap

₹3,43,968Cr

P/E & P/B are portfolio-weighted harmonic means across 57 of 58 equity holdings (68% 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 · Dynamic Asset Allocation or Balanced Advantage

Compare all


Mahindra Manulife Balanced Advantage FundThis fund Mahindra Manulife · Regular · Growth	★★★☆☆	+0.05%	+8.67%	—	—	2.41%	₹886.08Cr
quant Dynamic Asset Allocation Fund quant · Regular · Growth	★★★★☆	-3.35%	+11.39%	—	—	3.00%	₹902.64Cr
Aditya Birla Sun Life Balanced Advantage Fund Aditya Birla Sun Life · Regular · Growth	★★★★☆	+3.36%	+9.86%	+8.32%	—	1.95%	₹9,211Cr
Baroda BNP Paribas Balanced Advantage Fund Baroda BNP Paribas · Regular · Growth	★★★★☆	+1.76%	+9.80%	+8.79%	—	2.04%	₹4,798Cr
ICICI Prudential Balanced Advantage Fund ICICI Prudential · Regular · Growth	★★★★★	+1.06%	+9.67%	+9.23%	—	1.56%	₹70,787Cr
HDFC Balanced Advantage Fund HDFC · Regular · Growth	★★★★☆	-3.14%	+9.66%	+12.25%	—	1.31%	₹1,04,783Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap61.4%
Mid cap28.4%
Small cap10.2%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity69.76%
Debt23.51%
Cash & Equivalents4.62%
Real Estate / REITs2.10%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Mahindra Manulife Large & Mid Cap Fund Mahindra Manulife · Large & Mid Cap Fund	68.6%	★★★☆☆	0.83%	+11.01%
JM Large Cap Fund JM Financial · Large Cap Fund	48.0%	★★☆☆☆	1.19%	+9.54%
Axis Value Fund Axis · Value Fund	47.4%	★★★★★	0.92%	+17.19%
Mirae Asset Equity Savings Fund Mirae Asset · Equity Savings	47.2% of 67% equity	★★★★☆	0.73%	+9.71%
Nippon India Flexi Cap Fund Nippon India · Flexi Cap Fund	45.9%	★★☆☆☆	0.65%	+9.14%
Axis Large & Mid Cap Fund Axis · Large & Mid Cap Fund	45.9%	★★★★★	0.83%	+13.98%
Canara Robeco Flexi Cap Fund Canara Robeco · Flexi Cap Fund	45.8%	★★★☆☆	0.69%	+10.64%
Kotak Dividend Yield Fund Kotak Mahindra · Dividend Yield Fund	45.8%	—	1.10%	—

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.

-10.4%26 Sep 2024 → 03 Mar 2025
Fell over 5 months, back to the old high on 27 Jun 2025 — 4 months under water after the low.
-10.0%07 Jan 2026 → 31 Mar 2026
Fell over 3 months, back to the old high on 06 Jul 2026 — 3 months under water after the low.
-8.7%11 Apr 2022 → 20 Jun 2022
Fell over 2 months, back to the old high on 18 Aug 2022 — 2 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

₹886.08Cr

April - June 2026

-2%

since January - March 2026

+₹1.09Cr

est. net flow, last quarter

At or near its largest, ₹901.42Cr 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

HKHemang KapasiManaging since 25 Sep 2026

NDNeelesh DhamnaskarManaging since 21 Jul 2026

RPRahul PalManaging since 30 Dec 2021

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 →

AGAmit GargManaging since 01 Jan 2026

Role

Fund Manager – Fixed Income

Total experience

20 years

Education

B.Com, MMS Finance, CFA

Experience

• Fund Manager – Fixed • Co-Fund Manager Income – MMIMPL - of Mahindra (April 2021 – until date); Manulife Overnight Fixed Income, MMIMPL, Manulife Liquid Fund (June 2020 – April 2021); • Co-Fund Manager • Dealer – Fixed Income, of Debt portion of MMIMPL (September 2015 to June 2020); Mahindra Manulife Aggressive Hybrid • Dealer – Fixed Income, Fund Mahindra & Mahindra • Fund Manager of Financial Services Limited the Debt portion of (April, 2013 to September 2015);’ Mahindra Manulife Asia Pacific REITs • Junior Fund Manager & FOF Dealer, Daiwa Asset Management (India) Pvt. Ltd. (August 2008 to April 2013)

Funds managed (6)

All schemes Amit Garg runs →

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 Amit Garg

Top holdings

ICICI Bank Limited Bharti Airtel Limited Reliance Industries Limited IndusInd Bank Limited HDFC Bank Limited Eternal Limited Axis Bank Limited Laurus Labs Limited Jindal Steel Limited Apollo Hospitals Enterprise Limited The Federal Bank Limited State Bank of India

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 Balanced Advantage funds

Balanced advantage (dynamic asset allocation) funds move between equity and debt based on market valuations, adding more stocks when they look cheap and trimming when they look dear. The goal is a smoother ride.

Frequently asked questions

What is the NAV of Mahindra Manulife Balanced Advantage Fund?

As of 05 Oct 2026, the NAV of Mahindra Manulife Balanced Advantage Fund is ₹14.40 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Mahindra Manulife Balanced Advantage Fund delivered?

Mahindra Manulife Balanced Advantage Fund has returned +0.05% over 1 year, +8.67% per year over 3 years and +7.96% 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 Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund charges an expense ratio of 2.41% 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 Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund's largest holdings are ICICI Bank Limited (4.1%), 8.52% Muthoot Finance Limited 2028 (2.7%), 7.44% National Bank For Agriculture and Rural Development 2029 (2.7%), Bharti Airtel Limited (2.3%) and Reliance Industries Limited (2.3%). Holdings are disclosed monthly and change over time.

How risky is Mahindra Manulife Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 10.2% and its worst peak-to-trough fall in our sample was -10.4%. 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 0.21 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Mahindra Manulife Balanced Advantage Fund's 0.21 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Mahindra Manulife Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund is benchmarked against the Nifty 50 Hybrid Composite Debt 50: 50 Index TRI. Its alpha and beta on this page are measured against that index.

Who manages Mahindra Manulife Balanced Advantage Fund?

Mahindra Manulife Balanced Advantage Fund is managed by Hemang Kapasi, Neelesh Dhamnaskar, Rahul Pal and Amit Garg at Mahindra Manulife.

How is Mahindra Manulife Balanced Advantage Fund taxed?

Mahindra Manulife Balanced Advantage 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.