EquitySectoral/ ThematicRegularGrowthVery High

MahindraManulife Banking & Financial Services Fund

Q: What is the NAV of MahindraManulife Banking & Financial Services Fund?

As of 05 Oct 2026, the NAV of MahindraManulife Banking & Financial Services Fund is ₹10.11 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has MahindraManulife Banking & Financial Services Fund delivered?

MahindraManulife Banking & Financial Services Fund has returned +1.10% over 1 year and +0.93% 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 MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund charges an expense ratio of 2.77% 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 MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund's largest holdings are ICICI Bank Limited (12.2%), HDFC Bank Limited (7.6%), Axis Bank Limited (7.4%), State Bank of India (5.5%) and Multi Commodity Exchange of India Limited (5.3%). Holdings are disclosed monthly and change over time.

Q: How risky is MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.7% and its worst peak-to-trough fall in our sample was -15.9%. 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 MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund is benchmarked against the The Scheme performance would be benchmarked against the Nifty. Its alpha and beta on this page are measured against that index.

Q: Who manages MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund is managed by Vishal Jajoo and Chetan Sanjay Gindodia at Mahindra Manulife.

Q: How is MahindraManulife Banking & Financial Services Fund taxed?

MahindraManulife Banking & Financial Services 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 Sectoral & Thematic Mutual Funds

NAV

₹10.11

+0.26% 1D

as of 05 Oct 2026

This is the Regular plan of MahindraManulife Banking & Financial Services 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

+0.17%absolute

52-week rangePrev NAV ₹10.09

Latest ₹10.11

Low ₹9.2947th percentile of its 52-week rangeHigh ₹11.05

Scorecard

★★★☆☆3/5 vs 229 of 255 Sectoral/ Thematic 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 Sectoral/ Thematic (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. 229 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Sectoral/ Thematic peers to rank yet

RiskModerate

Volatility 16.7% vs 15.6% category avg

CostHigh

2.8% expense vs 2.5% 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

No standout strengths identified.

Concerns

Trails the Sectoral/ Thematic average on 1M/3M/6M/1Y — 1Y by 1.04pp
High expense ratio (2.77%) vs the Sectoral/ Thematic average of 2.46%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.77%

Category 2.46%▲0.31%

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

18.93

Category —

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

—

Category 0.36

Scheme Info

Definitions

Plan

Regular · Growth

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

None

- An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment ; - Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Redemption /Switch-Out of Units would be done on First in First Out Basis (FIFO). For more details on Load Structure, refer to the paragraph ‘Load Structure’ in Part III of Section I.

Up to 0.50%

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.

—

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

₹1,000

The Scheme performance would be benchmarked against the Nifty

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.

21 Jul 2025

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

Definitions

Absolute return over the last 1 month (not annualized)

-6.77%

Absolute return over the last 3 months (not annualized)

-6.55%

Absolute return over the last 6 months (not annualized)

+6.56%

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

-4.99%

Annualized returns (≥1Y — CAGR)

Definitions

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

+1.10%

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.

+0.93%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

16.71%

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

-15.89%

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

Definitions

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

—

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

—

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

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

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

—

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

—

Computed vs the Nifty Bank 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 (Sectoral/ Thematic)

Period	Fund	Category avg.	Diff
1M abs	-6.77%	-4.56%	-2.21%
3M abs	-6.55%	-2.60%	-3.95%
6M abs	+6.56%	+11.41%	-4.85%
1Y CAGR	+1.10%	+2.14%	-1.04%
3Y CAGR	—	+12.50%	—
5Y CAGR	—	+10.82%	—

Category average across peers in Sectoral/ Thematic (up to 255 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 255 peers in Sectoral/ Thematic

1Y return

+1.10%

Beats 55.7% · rank #102

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

₹1.16L

Absolute

-3.35%

XIRR

-7.18%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into MahindraManulife Banking & Financial Services 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 Bank TRI	Diff
2026part	-4.99%	-7.52%	+2.53%
2025part	+6.44%	—	—

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

297

Expense ratio

2.77%

AUM

₹428.70Cr

Portfolio turnover

89%

Exit load

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

P/E ratio

18.9

P/B ratio

3.2

Avg market cap

₹3,87,841Cr

P/E & P/B are portfolio-weighted harmonic means across 25 of 33 equity holdings (81% 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 · Sectoral/ Thematic

Compare all


MahindraManulife Banking & Financial Services FundThis fund Mahindra Manulife · Regular · Growth	★★★☆☆ 1Y	+1.10%	—	—	—	2.77%	—
Nippon India Taiwan Equity Fund Nippon India · Regular · Growth	★★★★☆	+125.07%	+61.55%	—	—	2.34%	₹1,110Cr
HDFC Defence Fund HDFC · Regular · Growth	★★★★☆	+19.02%	+34.59%	—	—	1.79%	₹9,371Cr
HDFC Pharma and Healthcare Fund HDFC · Regular · Growth	★★★★★	+24.17%	+28.28%	—	—	2.11%	₹2,282Cr
Franklin Asian Equity Fund Franklin Templeton · Regular · Growth	★★★☆☆	+31.28%	+23.90%	+8.86%	—	2.47%	₹720.84Cr
Nippon India Japan Equity Fund Nippon India · Regular · Growth	★★★☆☆	+28.99%	+22.97%	+10.76%	—	2.50%	₹330.20Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap61.3%
Mid cap26.2%
Small cap12.6%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity94.94%
Cash & Equivalents5.06%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Canara Robeco Banking and Financial Services Fund Canara Robeco · Sectoral/ Thematic	71.6%	—	1.05%	—
Baroda BNP Paribas Banking and Financial Services Fund Baroda BNP Paribas · Sectoral/ Thematic	70.7%	★★☆☆☆	1.09%	+13.35%
DSP Banking & Financial Services Fund DSP · Sectoral/ Thematic	67.3%	★★★★☆	0.81%	—
Kotak Banking and Financial Services Fund Kotak Mahindra · Sectoral/ Thematic	67.3%	★★★☆☆	0.80%	+11.49%
Tata Banking & Financial Services Fund Tata · Sectoral/ Thematic	65.4%	★★★☆☆	0.93%	+10.38%
Edelweiss Financial Services Fund Edelweiss · Sectoral/ Thematic	64.3%	—	0.98%	—
HDFC Banking & Financial Services Fund HDFC · Sectoral/ Thematic	63.0%	★★★☆☆	0.98%	+11.33%
UTI - Banking and Financial Services Fund UTI · Sectoral/ Thematic	62.9%	★★☆☆☆	1.44%	+11.96%

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.

🚩Holdings under NSE surveillance (ASM)

1 holding — 2.71% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

PB Fintech LimitedShort-term · Stage I2.71%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

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.

-15.9%18 Feb 2026 → 31 Mar 2026
Fell over 41 days, back to the old high on 26 Aug 2026 — 5 months under water after the low.
-8.7%26 Aug 2026 → 01 Oct 2026
Still below that high — 36 days down, and no recovery yet.

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

VJVishal JajooManaging since 18 Jul 2025

Role

Fund Manager

Total experience

18 years

Education

Bachelor’s degree

Experience

Manager in the last 10 years • MMIMPL – Fund Manager – Equity - December 13, 2024 – until date. • ITI Asset Management Company Limited - Fund Manager – Equity – January 19, 2023 – November 29, 2024. • Tata Investment Corporation Limited Senior Investment Manager – December 09, 2014 - January 18, 2023

Funds managed (4)

All schemes Vishal Jajoo runs →

CGChetan Sanjay GindodiaManaging since 18 Jul 2025

Role

Fund Manager & Research Analyst Equity

Total experience

9 years

Education

CA, CFA and B. Com

Experience

• MMIMPL – Fund Manager & Research Analyst – Equity – May 1, 2025 – Until date • MMIMPL – Research Analyst – Equity - February 2025 – April 30, 2025 • PGIM India Asset Management Private Limited – Senior Analyst - January 2024 - February 2025 • AlfAccurate Advisors Private Limited – Analyst - June 2019 - December 2023 • Multiact Consulting Private Limited – Associate - September 2016 - June 2019

All schemes Chetan Sanjay Gindodia runs →

Fund manager, benchmark and dealing terms from 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

Vishal Jajoo

Top holdings

ICICI Bank Limited HDFC Bank Limited Axis Bank Limited State Bank of India Multi Commodity Exchange of India Limited Shriram Finance Limited Bajaj Finance Ltd Aditya Birla Capital Limited Ujjivan Small Finance Bank Limited One 97 Communications Limited Kotak Mahindra Bank Ltd Nippon Life India Asset Management 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 Sectoral & Thematic funds

Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.

Frequently asked questions

What is the NAV of MahindraManulife Banking & Financial Services Fund?

As of 05 Oct 2026, the NAV of MahindraManulife Banking & Financial Services Fund is ₹10.11 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has MahindraManulife Banking & Financial Services Fund delivered?

MahindraManulife Banking & Financial Services Fund has returned +1.10% over 1 year and +0.93% 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 MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund charges an expense ratio of 2.77% 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 MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund's largest holdings are ICICI Bank Limited (12.2%), HDFC Bank Limited (7.6%), Axis Bank Limited (7.4%), State Bank of India (5.5%) and Multi Commodity Exchange of India Limited (5.3%). Holdings are disclosed monthly and change over time.

How risky is MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.7% and its worst peak-to-trough fall in our sample was -15.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund is benchmarked against the The Scheme performance would be benchmarked against the Nifty. Its alpha and beta on this page are measured against that index.

Who manages MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund is managed by Vishal Jajoo and Chetan Sanjay Gindodia at Mahindra Manulife.

How is MahindraManulife Banking & Financial Services Fund taxed?

MahindraManulife Banking & Financial Services 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.