HybridMulti Asset AllocationRegularGrowthHigh

Mahindra Manulife Multi Asset Allocation Fund

Q: What is the NAV of Mahindra Manulife Multi Asset Allocation Fund?

As of 05 Oct 2026, the NAV of Mahindra Manulife Multi Asset Allocation Fund is ₹13.49 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mahindra Manulife Multi Asset Allocation Fund delivered?

Mahindra Manulife Multi Asset Allocation Fund has returned +6.72% over 1 year and +12.34% 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 Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund charges an expense ratio of 1.89% 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 Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund's largest holdings are ICICI Prudential Gold ETF (12.7%), ICICI Bank Limited (3.7%), HDFC Bank Limited (3.4%), Brookfield India Real Estate Trust (3.4%) and 8.42% Muthoot Finance Limited 2029 (FRN) (3.0%). Holdings are disclosed monthly and change over time.

Q: How risky is Mahindra Manulife Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 9.0% and its worst peak-to-trough fall in our sample was -9.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of Mahindra Manulife Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund is benchmarked against the 45% NIFTY 500 TRI + 40% CRISIL Composite Bond Index + 10% Domestic Price of Physical Gold +5% Domestic Price of Silver. Its alpha and beta on this page are measured against that index.

Q: Who manages Mahindra Manulife Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund is managed by Renjith Sivaram Radhakrishnan, Navin Matta, Rahul Pal, Pranav Nishith Patel and Manish Lodha at Mahindra Manulife.

Q: How is Mahindra Manulife Multi Asset Allocation Fund taxed?

Mahindra Manulife Multi Asset Allocation 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 Multi Asset Allocation Mutual Funds

NAV

₹13.49

+0.25% 1D

as of 05 Oct 2026

This is the Regular plan of Mahindra Manulife Multi Asset Allocation 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.

Compare SIP calculator

Performance

+6.07%absolute

52-week rangePrev NAV ₹13.46

Latest ₹13.49

Low ₹12.5859th percentile of its 52-week rangeHigh ₹14.12

Scorecard

★★★★☆4/5 vs 31 of 36 Multi Asset Allocation peers1Y

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 Multi Asset Allocation (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 31 of the 36 Multi Asset Allocation funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Multi Asset Allocation peers to rank yet

RiskModerate

Volatility 9.0% vs 9.9% category avg

CostLow

1.9% expense vs 2.2% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

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

Strengths

1-year return (+6.72%) beats the Multi Asset Allocation average (+4.40%)
Low expense ratio (1.89%) vs the Multi Asset Allocation average of 2.19%

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.89%

Category 2.19%▼0.30%

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

20.73

Category —

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

—

Category 0.73

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

45% NIFTY 500 TRI + 40% CRISIL Composite Bond Index + 10% Domestic Price of Physical Gold +5% Domestic Price of Silver

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.

15 Mar 2024

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.76%

Absolute return over the last 3 months (not annualized)

-2.06%

Absolute return over the last 6 months (not annualized)

+5.54%

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

+0.91%

Annualized returns (≥1Y — CAGR)

Definitions

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

+6.72%

3-year annualized return (CAGR)

—

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.

+12.34%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

9.02%

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

—

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

—

Largest peak-to-trough decline over full history

-9.73%

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

7.76%

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

0.56

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

78.8%

Excess return per unit of beta (market risk)

10.31

Active return over the benchmark per unit of tracking error

1.41

Annualized std dev of fund-minus-benchmark returns

7.43%

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

81.8%

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

24.5%

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 (Multi Asset Allocation)

Period	Fund	Category avg.	Diff
1M abs	-3.76%	-3.47%	-0.29%
3M abs	-2.06%	-2.26%	+0.20%
6M abs	+5.54%	+3.79%	+1.75%
1Y CAGR	+6.72%	+4.40%	+2.32%
3Y CAGR	—	+13.19%	—
5Y CAGR	—	+11.72%	—

Category average across peers in Multi Asset Allocation (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 Multi Asset Allocation

1Y return

+6.72%

Beats 73.3% · rank #9

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

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

₹1.20L

Current value

₹1.20L

Absolute

+0.31%

XIRR

+0.67%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into Mahindra Manulife Multi Asset Allocation 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	+0.91%	-12.85%	+13.76%
2025	+20.76%	+11.97%	+8.79%
2024part	+10.50%	—	—

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.

History points

629

Expense ratio

1.89%

AUM

₹1,109Cr

Portfolio turnover

71%

Exit load

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

P/E ratio

20.7

P/B ratio

4.1

Avg market cap

₹4,10,311Cr

P/E & P/B are portfolio-weighted harmonic means across 54 of 57 equity holdings (51% 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 · Multi Asset Allocation

Compare all


Mahindra Manulife Multi Asset Allocation FundThis fund Mahindra Manulife · Regular · Growth	★★★★☆ 1Y	+6.72%	—	—	—	1.89%	₹1,109Cr
Quant Multi Asset Allocation Fund quant · Regular · Growth	★★★☆☆	+11.87%	+20.86%	+17.03%	—	2.29%	₹5,474Cr
Nippon India Multi Asset Allocation Fund Nippon India · Regular · Growth	★★★★★	+6.63%	+16.71%	+13.46%	—	1.44%	₹15,069Cr
DSP Multi Asset Allocation Fund DSP · Regular · Growth	★★★★★	+7.28%	+15.92%	—	—	1.59%	₹9,515Cr
Kotak Multi Asset Allocation Fund Kotak Mahindra · Regular · Growth	★★★☆☆	+8.94%	+15.58%	—	—	1.77%	₹13,629Cr
WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital · Regular · Growth	★★★★★	+7.98%	+15.16%	—	—	1.67%	₹7,308Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap66.5%
Mid cap17.3%
Small cap16.2%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity53.30%
Debt38.99%
Real Estate / REITs5.43%
Cash & Equivalents2.25%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

ICICI Prudential Gold ETF

12.65%

ICICI Bank Limited

3.67%

HDFC Bank Limited

3.44%

Brookfield India Real Estate Trust

3.36%

Nippon India Silver ETF

3.01%

ICICI Securities Limited 2026

2.83%

Bharti Airtel Limited

2.11%

Reliance Industries Limited

2.11%

Divi's Laboratories Limited

2.03%

State Bank of India

1.76%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Mahindra Manulife Equity Savings Fund Mahindra Manulife · Equity Savings	67.5% of 65% equity	★★★★☆	1.27%	+9.10%
Invesco India Multi Asset Allocation Fund Invesco · Multi Asset Allocation	55.1% of 37% equity	★★★☆☆	0.54%	—
HDFC NIFTY 100 Index Fund HDFC · Index Funds	54.6%	★★★☆☆	0.35%	+7.44%
Nippon India ETF Nifty 100 Nippon India · Other ETFs	54.6%	—	0.51%	+7.29%
Axis Nifty 100 Index Fund Axis · Index Funds	54.6%	★★★★☆	0.26%	+7.57%
Zerodha Nifty 100 ETF Zerodha · Other ETFs	54.6%	—	0.28%	—
Bandhan Nifty 100 Index Fund Bandhan · Index Funds	54.6%	★★★★☆	0.18%	+7.65%
Parag Parikh Large Cap Fund PPFAS · Large Cap Fund	54.6%	—	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.

-9.7%29 Jan 2026 → 23 Mar 2026
Fell over 2 months, back to the old high on 06 Aug 2026 — 4 months under water after the low.
-6.9%27 Sep 2024 → 28 Feb 2025
Fell over 5 months, back to the old high on 22 Apr 2025 — 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

₹1,109Cr

April - June 2026

+8%

since January - March 2026

+₹98.52Cr

est. net flow, last quarter

At or near its largest, ₹1,109Cr in April - June 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 13 Mar 2024

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 13 Mar 2024

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 →

PPPranav Nishith PatelManaging since 01 Jan 2026

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

MLManish LodhaManaging since 13 Mar 2024

Role

Fund Manager - Equity

Total experience

24 years

Education

B.Com (H), CS, CA

Experience

• Fund Manager (Equity) – MMIMPL (December 2, 2020 until date); • Asst. Fund Manager (Equity) – Canara HSBC OBC Life Insurance Co Ltd (October 2016 – December 2020); • Research Analyst (Equity) – Kotak Mahindra Mutual Fund (June 2005 – September 2016)

Funds managed (10)

All schemes Manish Lodha 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

Renjith Sivaram Radhakrishnan Navin Matta Rahul Pal Manish Lodha

Top holdings

ICICI Bank Limited HDFC Bank Limited Bharti Airtel Limited Reliance Industries Limited Divi's Laboratories Limited State Bank of India Kotak Mahindra Bank Ltd SPR Auto Technologies Ltd Axis Bank Limited Aditya Vision Ltd Sun Pharmaceutical Industries Limited Infosys 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.

Run SIP calculator Add to compare

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 Multi Asset Allocation funds

Multi asset funds spread money across at least three asset classes — typically equity, debt and gold — each at 10% or more. The mix aims to reduce the impact of any one asset having a bad year.

Frequently asked questions

What is the NAV of Mahindra Manulife Multi Asset Allocation Fund?

As of 05 Oct 2026, the NAV of Mahindra Manulife Multi Asset Allocation Fund is ₹13.49 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Mahindra Manulife Multi Asset Allocation Fund delivered?

Mahindra Manulife Multi Asset Allocation Fund has returned +6.72% over 1 year and +12.34% 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 Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund charges an expense ratio of 1.89% 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 Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund's largest holdings are ICICI Prudential Gold ETF (12.7%), ICICI Bank Limited (3.7%), HDFC Bank Limited (3.4%), Brookfield India Real Estate Trust (3.4%) and 8.42% Muthoot Finance Limited 2029 (FRN) (3.0%). Holdings are disclosed monthly and change over time.

How risky is Mahindra Manulife Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 9.0% and its worst peak-to-trough fall in our sample was -9.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Mahindra Manulife Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund is benchmarked against the 45% NIFTY 500 TRI + 40% CRISIL Composite Bond Index + 10% Domestic Price of Physical Gold +5% Domestic Price of Silver. Its alpha and beta on this page are measured against that index.

Who manages Mahindra Manulife Multi Asset Allocation Fund?

Mahindra Manulife Multi Asset Allocation Fund is managed by Renjith Sivaram Radhakrishnan, Navin Matta, Rahul Pal, Pranav Nishith Patel and Manish Lodha at Mahindra Manulife.

How is Mahindra Manulife Multi Asset Allocation Fund taxed?

Mahindra Manulife Multi Asset Allocation 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.