FoFFoF DomesticDirectGrowthVery High

Mahindra Manulife Income Plus Arbitrage Active FOF

Q: What is the NAV of Mahindra Manulife Income Plus Arbitrage Active FOF?

As of 05 Oct 2026, the NAV of Mahindra Manulife Income Plus Arbitrage Active FOF is ₹10.48 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Mahindra Manulife Income Plus Arbitrage Active FOF delivered?

Mahindra Manulife Income Plus Arbitrage Active FOF has returned +4.71% 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 Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF charges an expense ratio of 0.22% 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 Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF's largest holdings are Mahindra Manulife Short Term Fund - Direct Plan -Growth (49.0%), Mahindra Manulife Arbitrage Fund - Direct Plan -Growth (36.5%) and Mahindra Manulife Dynamic Term Fund - Direct Plan -Growth (12.8%). Holdings are disclosed monthly and change over time.

Q: How risky is Mahindra Manulife Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -0.3%. 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 Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF is benchmarked against the The Scheme performance would be benchmarked against 60% CRISIL. Its alpha and beta on this page are measured against that index.

Q: Who manages Mahindra Manulife Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF is managed by Rahul Pal, Amit Garg and Mitul Doshi at Mahindra Manulife.

Q: How is Mahindra Manulife Income Plus Arbitrage Active FOF taxed?

Mahindra Manulife Income Plus Arbitrage Active FOF 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 Domestic Fund of Funds

NAV

₹10.48

+0.12% 1D

as of 05 Oct 2026

This is the Direct plan of Mahindra Manulife Income Plus Arbitrage Active FOF — 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.

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NAV history

+4.71%absolute

52-week rangePrev NAV ₹10.47

Latest ₹10.48

Low ₹10.0099th percentile of its 52-week rangeHigh ₹10.49

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 — this fund has no full year of NAV history yet. A rating needs at least a 1-year return to rank its performance against peers.

Performance—

Not enough FoF Domestic peers to rank yet

RiskLow

Volatility 1.0% vs 17.8% category avg

CostAverage

0.2% expense vs 0.2% 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

Less volatile than its FoF Domestic peers (1.0% vs 17.8%)

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.22%

Category 0.23%▼0.01%

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

—

Category —

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

—

Category 0.72

Scheme Info

Definitions

Plan

Direct · Growth

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.

—

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

₹1,000

The Scheme performance would be benchmarked against 60% CRISIL

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.

08 Dec 2025

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.22%

Absolute return over the last 3 months (not annualized)

+0.75%

Absolute return over the last 6 months (not annualized)

+3.37%

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

+4.47%

Annualized returns (≥1Y — CAGR)

Definitions

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

—

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.

+4.71%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.98%

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

-0.26%

Benchmark ratios

Not shown for FoF Domestic — 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 (FoF Domestic)

Period	Fund	Category avg.	Diff
1M abs	+0.22%	-3.42%	+3.64%
3M abs	+0.75%	-1.37%	+2.12%
6M abs	+3.37%	+4.90%	-1.53%
1Y CAGR	—	+12.26%	—
3Y CAGR	—	+19.75%	—
5Y CAGR	—	+13.12%	—

Category average across peers in FoF Domestic (154 of 155 carry a figure for at least one period), 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

₹90.00K

Current value

₹91.71K

Absolute

+1.90%

XIRR

+5.74%

Value vs. invested

ValueInvested

9 monthly installments of ₹10,000 into Mahindra Manulife Income Plus Arbitrage Active FOF, 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	+4.47%
2025part	+0.23%

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

199

Expense ratio

0.22%

AUM

₹18.87Cr

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 · FoF Domestic

Compare all


Mahindra Manulife Income Plus Arbitrage Active FOFThis fund Mahindra Manulife · Direct · Growth	—	—	—	—	—	0.22%	₹18.87Cr
Mirae Asset NYSE FANG + ETF Fund of Fund Mirae Asset · Direct · Growth	★★★★★	+46.31%	+59.01%	+36.50%	—	0.04%	₹2,418Cr
Mirae Asset S&P 500 Top 50 ETF Fund of Fund Mirae Asset · Direct · Growth	★★★★★	+48.18%	+46.49%	+29.85%	—	0.04%	—
Axis Silver Fund of Fund Axis · Direct · Growth	★★★★★	+51.54%	+46.04%	—	—	0.14%	₹1,209Cr
Nippon India Silver ETF FOF Nippon India · Direct · Growth	★★★★☆	+49.82%	+45.66%	—	—	0.22%	₹4,544Cr
Kotak Silver ETF Fund of Fund Kotak Mahindra · Direct · Growth	★★★★☆	+51.52%	+45.48%	—	—	0.28%	₹981.83Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Other98.31%
Cash & Equivalents1.69%

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 PalStart date not disclosed

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 GargStart date not disclosed

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 (5)

All schemes Amit Garg runs →

MDMitul DoshiStart date not disclosed

Role

Dealer and Fund Manager – Equity

Total experience

21 years

Education

Diploma in Electronics & Communication

Experience

• MMIMPL – Fund Manager & Dealer – portion Equity – May 2, Manulife Arbitrage Fund. 2025 – Until date • MMIMPL - Equity Dealer - May 2, 2023 – May 1, 2025 • Edelweiss Asset Management Ltd. – Manager Equity Trader - September 18, 2018 - April 27, 2023 • Way2wealth Brokers Pvt ltd – Manager Institutional Sales Trader - December 10, 2010 - September 7, 2018 holdings: various Net Value Units NAV per unit* Not Available

Funds managed (1)

Mahindra Manulife Arbitrage Fund

All schemes Mitul Doshi 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.

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Fund managers

Rahul Pal Amit Garg Mitul Doshi

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.

Frequently asked questions

What is the NAV of Mahindra Manulife Income Plus Arbitrage Active FOF?

As of 05 Oct 2026, the NAV of Mahindra Manulife Income Plus Arbitrage Active FOF is ₹10.48 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Mahindra Manulife Income Plus Arbitrage Active FOF delivered?

Mahindra Manulife Income Plus Arbitrage Active FOF has returned +4.71% 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 Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF charges an expense ratio of 0.22% 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 Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF's largest holdings are Mahindra Manulife Short Term Fund - Direct Plan -Growth (49.0%), Mahindra Manulife Arbitrage Fund - Direct Plan -Growth (36.5%) and Mahindra Manulife Dynamic Term Fund - Direct Plan -Growth (12.8%). Holdings are disclosed monthly and change over time.

How risky is Mahindra Manulife Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.0% and its worst peak-to-trough fall in our sample was -0.3%. 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 Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF is benchmarked against the The Scheme performance would be benchmarked against 60% CRISIL. Its alpha and beta on this page are measured against that index.

Who manages Mahindra Manulife Income Plus Arbitrage Active FOF?

Mahindra Manulife Income Plus Arbitrage Active FOF is managed by Rahul Pal, Amit Garg and Mitul Doshi at Mahindra Manulife.

How is Mahindra Manulife Income Plus Arbitrage Active FOF taxed?

Mahindra Manulife Income Plus Arbitrage Active FOF 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.