Mahindra Manulife Balanced Advantage Fund
Dynamic Asset AllocationVery HighOPEN-ENDED
- NAV as on 24 Sep 2026
- ₹14.71-1.24%1 day
- Return since launch
- 8.8%
- 52-week range
- ₹13.39 — ₹15.13
- AUM
- ₹923 Cr
Mahindra Manulife Balanced Advantage Fund is a Dynamic Asset Allocation hybrid fund from Mahindra Manulife Mutual Fund with ₹923 Cr under management, launched in 2021. Over three years it has returned 4.7% a year, against 8.3% for its category. The expense ratio is 2.42% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Balanced Advantage Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +2.2% against +0.6% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 2.2% | +1.7 pts | 0.6% | -0.5% |
| 2Y | 3.0% | +1.4 pts | 1.5% | 1.6% |
| 3Y | 4.7% | −3.6 pts | 8.3% | 3.8% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -2.6% | 0.0 pts | -2.6% | -2.7% |
| 3M | 0.6% | +1.2 pts | -0.5% | -0.5% |
| 6M | 6.6% | +2.3 pts | 4.2% | 4.1% |
| 1Y | 2.2% | +1.6 pts | 0.6% | 0.7% |
| 2Y | 0.7% | +0.6 pts | 0.1% | 0.3% |
| 3Y | 9.2% | +0.9 pts | 8.3% | 7.9% |
Since launch (9 Dec 2021): 8.8%
Calendar-year returns
Category average19.9%
14.0%
4.1%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 4.1% | −2.5 pts | 6.7% |
| 2024 | 14.0% | −0.2 pts | 14.2% |
| 2023 | 19.9% | 0.0 pts | 20.0% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
2.42%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.96%
- Brokerage
- 0.05%
- Transaction charges
- 0.00%
- Statutory levies
- 0.41%
- Exit load
- Exit load for units in excess of 10% of the investment 1% will be charged for redemption within 3 months.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY 50 Hybrid Composite Debt 50:50 Index
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | — | — | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | — | 1.29 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.47 | 0.63 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.60 | 0.82 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 10.08 | 10.95 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Mahindra Manulife Balanced Advantage Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity69.8%
- Debt23.5%
- Other6.7%
Market cap split
- Large61.8%
- Mid27.9%
- Small10.2%
- P/E
- 26.60
- P/B
- 3.32
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Others | Others | 4.62% | ₹42.61 Cr | +0.24% | +9.51% | +19.50% |
| ICICI Bank Ltd. | Financial | 4.06% | ₹37.44 Cr | +3.20% | +3.40% | +2.62% |
| Bharti Airtel Ltd. | Communication | 2.32% | ₹21.38 Cr | +2.44% | +1.65% | -1.09% |
| Reliance Industries Ltd. | Energy | 2.28% | ₹21.07 Cr | +2.47% | +2.06% | +2.54% |
| Indusind Bank Ltd. | Financial | 2.27% | ₹20.94 Cr | +2.13% | +2.16% | +1.68% |
| HDFC Bank Ltd. | Financial | 2.24% | ₹20.65 Cr | +2.45% | +2.89% | +3.38% |
| GOI | Sovereign | 2.19% | ₹20.18 Cr | +1.08% | +1.08% | +0.97% |
| Eternal Ltd. | Services | 2.15% | ₹19.85 Cr | +1.72% | — | — |
| Axis Bank Ltd. | Financial | 2.11% | ₹19.50 Cr | +2.18% | +2.28% | — |
| Brookfield India Real Estate Trust REIT | Construction | 2.10% | ₹19.35 Cr | +1.01% | — | — |
| Laurus Labs Ltd. | Healthcare | 1.93% | ₹17.86 Cr | +1.70% | +1.30% | +1.44% |
| Jindal Steel Ltd. | Metals & Mining | 1.81% | ₹16.68 Cr | +1.91% | — | — |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 1.78% | ₹16.46 Cr | +1.71% | +1.59% | +1.05% |
| Godrej Properties Ltd. | Construction | 1.63% | ₹15.05 Cr | — | — | +0.75% |
| The Federal Bank Ltd. | Financial | 1.62% | ₹14.98 Cr | +1.37% | +1.38% | -0.99% |
| Power Finance Corporation Ltd. | Financial | 1.57% | ₹14.51 Cr | +0.17% | — | +1.00% |
| State Bank of India | Financial | 1.51% | ₹13.94 Cr | +1.90% | +2.83% | +1.90% |
| Bajaj Finance Ltd. | Financial | 1.48% | ₹13.69 Cr | +1.52% | -1.23% | -1.09% |
| Tech Mahindra Ltd. | Technology | 1.48% | ₹13.68 Cr | +1.41% | +1.25% | -0.72% |
| Titan Company Ltd. | Consumer Discretionary | 1.46% | ₹13.52 Cr | +1.22% | — | — |
| Mahindra & Mahindra Ltd. | Automobile | 1.41% | ₹13.00 Cr | +1.36% | +1.27% | +0.92% |
| Senores Pharmaceuticals Ltd. | Healthcare | 1.40% | ₹12.90 Cr | +1.36% | +0.90% | +0.81% |
| Larsen & Toubro Ltd. | Construction | 1.38% | ₹12.70 Cr | +1.45% | +0.70% | — |
| Aditya Vision Ltd. | Services | 1.34% | ₹12.41 Cr | +1.25% | +1.05% | +1.10% |
| Bharat Heavy Electricals Ltd. | Capital Goods | 1.33% | ₹12.31 Cr | +1.65% | +1.02% | +0.80% |
| Bharat Electronics Ltd. | Capital Goods | 1.29% | ₹11.94 Cr | +1.34% | +1.16% | +0.77% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 1.29% | ₹11.92 Cr | +1.24% | +1.41% | +1.51% |
| Fortis Healthcare Ltd. | Healthcare | 1.28% | ₹11.79 Cr | +1.37% | +1.34% | +0.80% |
| Multi Commodity Exchange Of India Ltd. | Services | 1.23% | ₹11.36 Cr | +0.90% | — | — |
| Bank of Maharashtra | Financial | 1.19% | ₹10.97 Cr | +1.20% | — | — |
| Divi's Laboratories Ltd. | Healthcare | 1.16% | ₹10.70 Cr | +1.06% | +1.23% | +2.37% |
| Oil And Natural Gas Corporation Ltd. | Energy | 1.16% | ₹10.69 Cr | +1.38% | — | — |
| Bharti Telecom Ltd. | Communication | 1.09% | ₹10.10 Cr | +1.14% | +1.13% | +1.14% |
| LIC Housing Finance Ltd. | Financial | 1.08% | ₹10.01 Cr | +0.11% | — | +0.56% |
| Muthoot Finance Ltd. | Financial | 1.08% | ₹9.97 Cr | +1.13% | +1.11% | +2.78% |
| Mindspace Business Parks REIT | Construction | 1.07% | ₹9.85 Cr | +1.11% | +1.09% | — |
| Indian Bank | Financial | 1.02% | ₹9.44 Cr | +0.99% | +1.14% | +0.25% |
| Aditya Birla Capital Ltd. | Financial | 1.02% | ₹9.42 Cr | +0.95% | — | — |
| Coforge Ltd. | Technology | 1.00% | ₹9.23 Cr | +0.61% | — | — |
| Torrent Pharmaceuticals Ltd. | Healthcare | 1.00% | ₹9.21 Cr | +0.46% | +0.44% | — |
| Maruti Suzuki India Ltd. | Automobile | 1.00% | ₹9.21 Cr | +1.01% | +1.11% | +1.60% |
| Bosch Ltd. | Automobile | 0.98% | ₹9.00 Cr | +0.75% | +0.72% | +0.79% |
| Infosys Ltd. | Technology | 0.96% | ₹8.85 Cr | +1.03% | +1.33% | +1.30% |
| Delhivery Ltd. | Services | 0.94% | ₹8.71 Cr | +0.98% | — | — |
| Ultratech Cement Ltd. | Materials | 0.94% | ₹8.70 Cr | +1.64% | +2.86% | +2.87% |
| Coal India Ltd. | Materials | 0.92% | ₹8.48 Cr | +1.64% | +1.23% | +1.07% |
| Aditya Birla Sun Life AMC Ltd. | Financial | 0.91% | ₹8.41 Cr | +0.96% | +0.78% | +0.74% |
| Bajaj Auto Ltd. | Automobile | 0.91% | ₹8.41 Cr | +0.95% | +0.87% | +0.76% |
| Polycab India Ltd. | Capital Goods | 0.89% | ₹8.22 Cr | +0.48% | +0.42% | +0.35% |
| IDFC First Bank Ltd. | Financial | 0.87% | ₹8.00 Cr | +0.75% | +1.01% | +0.94% |
| L&T Finance Ltd. | Financial | 0.84% | ₹7.74 Cr | +0.78% | — | — |
| Radico Khaitan Ltd. | Consumer Staples | 0.83% | ₹7.62 Cr | +0.68% | — | — |
| National Bank For Agriculture & Rural Development | Financial | 0.81% | ₹7.48 Cr | +1.12% | +4.44% | +4.50% |
| Vishal Mega Mart Ltd. | Services | 0.76% | ₹7.04 Cr | +0.88% | +0.52% | +1.02% |
| JM Financial Services Pvt. Ltd. | Financial | 0.75% | ₹6.96 Cr | +0.78% | +0.76% | — |
| Hindustan Aeronautics Ltd. | Capital Goods | 0.75% | ₹6.96 Cr | +0.39% | +0.34% | +0.38% |
| BlackBuck Ltd. | Services | 0.74% | ₹6.83 Cr | +0.66% | — | — |
| The Phoenix Mills Ltd. | Construction | 0.72% | ₹6.65 Cr | +0.70% | +0.64% | — |
| Indus Towers Ltd. | Communication | 0.70% | ₹6.45 Cr | +1.68% | +3.09% | +2.31% |
| Marico Ltd. | Consumer Staples | 0.67% | ₹6.15 Cr | — | — | — |
| HDFC Asset Management Company Ltd. | Financial | 0.57% | ₹5.24 Cr | +0.82% | +0.80% | +0.81% |
| company:17009 | Healthcare | 0.56% | ₹5.21 Cr | — | — | — |
| Cummins India Ltd. | Capital Goods | 0.55% | ₹5.11 Cr | +0.67% | — | — |
| JSW Energy Ltd. | Capital Goods | 0.55% | ₹5.10 Cr | +0.66% | +0.52% | +0.53% |
| TVS Credit Services Ltd. | Financial | 0.54% | ₹5.02 Cr | +0.57% | +0.56% | +0.56% |
| Embassy Office Parks REIT | Construction | 0.54% | ₹4.98 Cr | +0.56% | +0.56% | +0.56% |
| IIFL Finance Ltd. | Financial | 0.53% | ₹4.89 Cr | +0.40% | +0.49% | +0.42% |
| Maharashtra State | Others | 0.53% | ₹4.86 Cr | +0.55% | +0.54% | — |
| DLF Ltd. | Construction | 0.51% | ₹4.70 Cr | — | — | +1.38% |
| Mahanagar Gas Ltd. | Energy | 0.47% | ₹4.29 Cr | +0.69% | +0.74% | +0.77% |
| Max Financial Services Ltd. | Financial | 0.45% | ₹4.17 Cr | +0.50% | — | — |
| company:14309 | Financial | 0.33% | ₹3.00 Cr | — | — | — |
| Arvind Fashions Ltd. | Textiles | 0.24% | ₹2.25 Cr | +0.26% | +0.24% | +0.29% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Power Finance Corporation Ltd. | 0.16% | 1.57% | +1.41% |
| GOI | 1.06% | 2.19% | +1.13% |
| Small Industries Devp. Bank of India Ltd. | 1.09% | 0.00% | -1.09% |
| Power Grid Corporation Of India Ltd. | 0.90% | 0.00% | -0.90% |
| SRF Ltd. | 0.74% | 0.00% | -0.74% |
| company:17009 | 0.00% | 0.56% | +0.56% |
| Hindustan Aeronautics Ltd. | 0.41% | 0.75% | +0.34% |
| company:14309 | 0.00% | 0.33% | +0.33% |
| Coforge Ltd. | 0.71% | 1.00% | +0.29% |
| Multi Commodity Exchange Of India Ltd. | 0.98% | 1.23% | +0.25% |
| Bajaj Finance Ltd. | 1.24% | 1.48% | +0.24% |
| Bharti Airtel Ltd. | 2.54% | 2.32% | -0.22% |
| Divi's Laboratories Ltd. | 0.99% | 1.16% | +0.17% |
| Bosch Ltd. | 0.81% | 0.98% | +0.17% |
| Eternal Ltd. | 1.99% | 2.15% | +0.16% |
| HDFC Bank Ltd. | 2.38% | 2.24% | -0.14% |
| Jindal Steel Ltd. | 1.68% | 1.81% | +0.13% |
| Glenmark Pharmaceuticals Ltd. | 1.17% | 1.29% | +0.12% |
| Senores Pharmaceuticals Ltd. | 1.28% | 1.40% | +0.12% |
| Axis Bank Ltd. | 2.01% | 2.11% | +0.10% |
| Aditya Vision Ltd. | 1.44% | 1.34% | -0.10% |
| Bharat Electronics Ltd. | 1.22% | 1.29% | +0.07% |
| Reliance Industries Ltd. | 2.35% | 2.28% | -0.07% |
| Fortis Healthcare Ltd. | 1.34% | 1.28% | -0.06% |
| Indian Bank | 0.96% | 1.02% | +0.06% |
| Oil And Natural Gas Corporation Ltd. | 1.22% | 1.16% | -0.06% |
| Maruti Suzuki India Ltd. | 1.06% | 1.00% | -0.06% |
| Mahindra & Mahindra Ltd. | 1.47% | 1.41% | -0.06% |
| BlackBuck Ltd. | 0.68% | 0.74% | +0.06% |
| Delhivery Ltd. | 1.00% | 0.94% | -0.06% |
| Titan Company Ltd. | 1.41% | 1.46% | +0.05% |
| Ultratech Cement Ltd. | 0.99% | 0.94% | -0.05% |
| Cummins India Ltd. | 0.60% | 0.55% | -0.05% |
| Bharat Heavy Electricals Ltd. | 1.38% | 1.33% | -0.05% |
| Marico Ltd. | 0.71% | 0.67% | -0.04% |
| Bajaj Auto Ltd. | 0.87% | 0.91% | +0.04% |
| State Bank of India | 1.47% | 1.51% | +0.04% |
| JSW Energy Ltd. | 0.59% | 0.55% | -0.04% |
| Aditya Birla Sun Life AMC Ltd. | 0.88% | 0.91% | +0.03% |
| Coal India Ltd. | 0.95% | 0.92% | -0.03% |
| Polycab India Ltd. | 0.86% | 0.89% | +0.03% |
| IIFL Finance Ltd. | 0.50% | 0.53% | +0.03% |
| Bank of Maharashtra | 1.16% | 1.19% | +0.03% |
| Tech Mahindra Ltd. | 1.51% | 1.48% | -0.03% |
| Apollo Hospitals Enterprise Ltd. | 1.81% | 1.78% | -0.03% |
| ICICI Bank Ltd. | 4.03% | 4.06% | +0.03% |
| Larsen & Toubro Ltd. | 1.35% | 1.38% | +0.03% |
| Radico Khaitan Ltd. | 0.80% | 0.83% | +0.03% |
| Mahanagar Gas Ltd. | 0.49% | 0.47% | -0.02% |
| Others | 0.08% | 0.06% | -0.02% |
| Vishal Mega Mart Ltd. | 0.74% | 0.76% | +0.02% |
| Torrent Pharmaceuticals Ltd. | 1.02% | 1.00% | -0.02% |
| Max Financial Services Ltd. | 0.43% | 0.45% | +0.02% |
| DLF Ltd. | 0.49% | 0.51% | +0.02% |
| L&T Finance Ltd. | 0.82% | 0.84% | +0.02% |
| The Federal Bank Ltd. | 1.64% | 1.62% | -0.02% |
| Laurus Labs Ltd. | 1.92% | 1.93% | +0.01% |
| Maharashtra State | 0.54% | 0.53% | -0.01% |
| Brookfield India Real Estate Trust REIT | 2.11% | 2.10% | -0.01% |
| Mindspace Business Parks REIT | 1.08% | 1.07% | -0.01% |
| Indus Towers Ltd. | 0.71% | 0.70% | -0.01% |
| Embassy Office Parks REIT | 0.55% | 0.54% | -0.01% |
| Aditya Birla Capital Ltd. | 1.01% | 1.02% | +0.01% |
| National Bank For Agriculture & Rural Development | 0.55% | 0.54% | -0.01% |
| Muthoot Finance Ltd. | 1.09% | 1.08% | -0.01% |
| Godrej Properties Ltd. | 1.64% | 1.63% | -0.01% |
| IDFC First Bank Ltd. | 0.86% | 0.87% | +0.01% |
| Bharti Telecom Ltd. | 1.10% | 1.09% | -0.01% |
| TVS Credit Services Ltd. | 0.55% | 0.54% | -0.01% |
| JM Financial Services Pvt. Ltd. | 0.76% | 0.75% | -0.01% |
| LIC Housing Finance Ltd. | 1.09% | 1.08% | -0.01% |
| Arvind Fashions Ltd. | 0.24% | 0.24% | 0.00% |
| HDFC Asset Management Company Ltd. | 0.57% | 0.57% | 0.00% |
| Indusind Bank Ltd. | 2.27% | 2.27% | 0.00% |
| Infosys Ltd. | 0.96% | 0.96% | 0.00% |
| The Phoenix Mills Ltd. | 0.72% | 0.72% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹39,803 Cr | 1.98% | 0.3% | 5.2% | 9.8% |
 HDFC Balanced Advantage Fund | ₹1,07,296 Cr | 1.31% | -3.8% | 3.3% | 10.5% |
 ICICI Prudential Balanced Advantage Fund | ₹75,399 Cr | 1.57% | 1.2% | 6.7% | 9.4% |
 Aditya Birla Sun Life Balanced Advantage Fund | ₹10,125 Cr | 1.95% | 4.6% | 7.5% | 9.6% |
 Baroda BNP Paribas Balanced Advantage Fund | ₹5,343 Cr | 2.05% | 1.4% | 6.3% | 9.6% |
 Quant Dynamic Asset Allocation Fund | ₹852 Cr | 3.03% | -2.1% | 2.5% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to provide capital appreciation and generate income through a dynamic mix of equity, debt and money market instruments. The Scheme seeks to reduce the volatility by diversifying the assets across equity, debt and money market instruments.
Fund managers
- Amit GargMr Garg is a B.Com, MMS Finance, CFAPrior to joining Mahindra Manulife Investment Management Pvt. Ltd., he has worked with Darashaw & Co. and Daiwa Asset Management (India) Pvt. Ltd.
- Neelesh DhamnaskarMr. Dhamnaskar is a B.Com (H)and MMS (Finance).Prior to joining Mahindra Manulife Mutual Fund, he has worked with Invesco MF, ENAM Securities Direct Pvt. Ltd. and KR Choksey Shares and Securities Pvt. Ltd. He has also worked with Anand Rathi Ltd., as Commodity Research Analyst.
- Rahul PalMr. Pal is a B.Com (H) and Chartered Accountant.Prior to joining Mahindra Manulife Mutual Fund, he has worked with Taurus AMC, Sundaram Mutual Fund and IDBI Mutual Fund.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
₹
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months6.56% absolute | ₹60,000 | ₹63,936 | 6.56% | |
| 1 year2.18% annualised | ₹1,20,000 | ₹1,21,426 | 1.19% | |
| 3 years9.18% annualised | ₹3,60,000 | ₹4,15,807 | 15.50% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.
What is the NAV of Mahindra Manulife Balanced Advantage Fund?
The NAV of Mahindra Manulife Balanced Advantage Fund is ₹14.71 as on 24 Sep 2026.
What is the expense ratio of Mahindra Manulife Balanced Advantage Fund?
The expense ratio of Mahindra Manulife Balanced Advantage Fund is 2.42% per year.
What is the minimum SIP amount for Mahindra Manulife Balanced Advantage Fund?
You can start a SIP in Mahindra Manulife Balanced Advantage Fund with ₹3,000 a month.
Is there a lock-in or exit load on Mahindra Manulife Balanced Advantage Fund?
Lock-in: None. Exit load: Exit load for units in excess of 10% of the investment 1% will be charged for redemption within 3 months..
How risky is Mahindra Manulife Balanced Advantage Fund?
Mahindra Manulife Balanced Advantage Fund is rated Very High on the SEBI riskometer and belongs to the Dynamic Asset Allocation category.
Which fund house manages Mahindra Manulife Balanced Advantage Fund?
Mahindra Manulife Balanced Advantage Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹34,805 Cr under management.