Mahindra Manulife Banking & Financial Services Fund
- NAV as on 9 Nov 2026
- ₹10.95+0.54%1 day
- Return since launch
- 6.8%
- 52-week range
- ₹9.29 — ₹11.05
- AUM
- ₹445 Cr
Mahindra Manulife Banking & Financial Services Fund is a Sectoral-Banking equity fund from Mahindra Manulife Mutual Fund with ₹445 Cr under management, launched in 2025. The expense ratio is 2.77% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Banking & Financial Services Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +4.5% against +2.0% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 7.8% | +5.5 pts | 2.2% | 6.9% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 7.5% | +0.5 pts | 7.1% | 7.0% |
| 3M | 0.9% | −0.2 pts | 1.1% | 2.1% |
| 6M | 6.2% | 0.0 pts | 6.1% | 6.7% |
| 1Y | 4.5% | +2.3 pts | 2.2% | 2.0% |
Since launch (27 Jun 2025): 6.8%
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
2.77%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 2.10%
- Brokerage
- 0.12%
- Transaction charges
- 0.01%
- Statutory levies
- 0.54%
- Exit load
- Exit load of 0.50%, if redeemed within 3 months.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY Financial Services TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
Portfolio
Mahindra Manulife Banking & Financial Services Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity97.4%
- Other2.6%
Market cap split
- Large57.6%
- Mid28.5%
- Small13.9%
- P/E
- 18.63
- P/B
- 2.35
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Bank Ltd. | Financial | 11.88% | ₹52.86 Cr | +12.20% | +12.96% | +15.11% |
| HDFC Bank Ltd. | Financial | 10.18% | ₹45.29 Cr | +9.08% | +13.47% | +16.30% |
| Axis Bank Ltd. | Financial | 7.50% | ₹33.37 Cr | +8.72% | +8.10% | +7.86% |
| State Bank of India | Financial | 5.39% | ₹23.98 Cr | +6.31% | +5.71% | +6.12% |
| Multi Commodity Exchange Of India Ltd. | Services | 4.95% | ₹22.03 Cr | — | +2.86% | +2.42% |
| Shriram Finance Ltd | Financial | 4.92% | ₹21.89 Cr | +5.15% | +3.31% | +1.70% |
| Bajaj Finance Ltd. | Financial | 4.54% | ₹20.20 Cr | +4.69% | +5.37% | +6.44% |
| Kotak Mahindra Bank Ltd. | Financial | 4.34% | ₹19.33 Cr | +5.76% | +4.88% | +6.85% |
| Ujjivan Small Finance Bank Ltd. | Financial | 4.28% | ₹19.07 Cr | +3.24% | +3.34% | — |
| Aditya Birla Capital Ltd. | Financial | 3.79% | ₹16.88 Cr | +3.86% | +2.94% | — |
| One 97 Communications Ltd. | Services | 3.34% | ₹14.85 Cr | +0.76% | — | — |
| Nippon Life India Asset Management Ltd. | Financial | 2.89% | ₹12.84 Cr | +2.06% | +0.99% | +1.87% |
| Karur Vysya Bank Ltd. | Financial | 2.86% | ₹12.72 Cr | +3.01% | +1.91% | +2.14% |
| SBI Life Insurance Company Ltd. | Insurance | 2.86% | ₹12.72 Cr | +2.94% | +2.67% | +2.55% |
| Max Financial Services Ltd. | Financial | 2.59% | ₹11.51 Cr | +2.94% | +2.35% | +0.88% |
| Others | Others | 2.55% | ₹11.36 Cr | +0.48% | +8.04% | +2.70% |
| Angel One Ltd. | Financial | 2.19% | ₹9.76 Cr | +1.56% | +1.49% | — |
| Indusind Bank Ltd. | Financial | 2.05% | ₹9.10 Cr | — | — | — |
| Bandhan Bank Ltd. | Financial | 1.88% | ₹8.36 Cr | +2.12% | +1.61% | — |
| 360 One Wam Ltd. | Financial | 1.85% | ₹8.24 Cr | +0.95% | — | — |
| Piramal Finance Ltd. | Financial | 1.66% | ₹7.40 Cr | — | — | — |
| PB Fintech Ltd. | Services | 1.65% | ₹7.34 Cr | +2.49% | +0.78% | — |
| PNB Housing Finance Ltd. | Financial | 1.25% | ₹5.57 Cr | +1.14% | +1.01% | +1.08% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 1.17% | ₹5.21 Cr | +2.20% | +3.01% | +1.32% |
| Bank of Maharashtra | Financial | 1.07% | ₹4.76 Cr | — | +1.03% | — |
| DCB Bank Ltd. | Financial | 1.04% | ₹4.62 Cr | +0.93% | +0.96% | — |
| SBI Funds Management Ltd. | Financial | 1.03% | ₹4.58 Cr | — | — | — |
| Union Bank of India | Financial | 0.96% | ₹4.28 Cr | +0.96% | +0.98% | — |
| L&T Finance Ltd. | Financial | 0.94% | ₹4.19 Cr | +3.65% | — | — |
| Bajaj Finserv Ltd. | Financial | 0.86% | ₹3.81 Cr | — | — | — |
| Indian Bank | Financial | 0.85% | ₹3.77 Cr | +0.85% | +1.06% | +2.32% |
| Tata Capital Ltd. | Financial | 0.71% | ₹3.18 Cr | +1.60% | +1.32% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| HDFC Bank Ltd. | 7.61% | 10.18% | +2.56% |
| Angel One Ltd. | 0.64% | 2.19% | +1.55% |
| Piramal Finance Ltd. | 0.28% | 1.66% | +1.38% |
| Kotak Mahindra Bank Ltd. | 3.10% | 4.34% | +1.25% |
| PB Fintech Ltd. | 2.71% | 1.65% | -1.06% |
| Fedbank Financial Services Ltd. | 0.99% | 0.00% | -0.99% |
| Cholamandalam Investment and Finance Company Ltd. | 2.16% | 1.17% | -0.99% |
| 360 One Wam Ltd. | 0.98% | 1.85% | +0.87% |
| L&T Finance Ltd. | 1.78% | 0.94% | -0.84% |
| Tata Capital Ltd. | 1.52% | 0.71% | -0.80% |
| Ujjivan Small Finance Bank Ltd. | 3.58% | 4.28% | +0.71% |
| Multi Commodity Exchange Of India Ltd. | 5.29% | 4.95% | -0.34% |
| ICICI Bank Ltd. | 12.18% | 11.88% | -0.30% |
| Bandhan Bank Ltd. | 1.61% | 1.88% | +0.27% |
| Shriram Finance Ltd | 5.18% | 4.92% | -0.26% |
| Max Financial Services Ltd. | 2.76% | 2.59% | -0.18% |
| State Bank of India | 5.55% | 5.39% | -0.16% |
| One 97 Communications Ltd. | 3.18% | 3.34% | +0.15% |
| BSE Ltd. | 0.15% | 0.00% | -0.15% |
| SBI Life Insurance Company Ltd. | 2.73% | 2.86% | +0.12% |
| Bajaj Finance Ltd. | 4.66% | 4.54% | -0.12% |
| Indusind Bank Ltd. | 2.15% | 2.05% | -0.11% |
| Axis Bank Ltd. | 7.41% | 7.50% | +0.09% |
| Bajaj Finserv Ltd. | 0.93% | 0.86% | -0.08% |
| Nippon Life India Asset Management Ltd. | 2.95% | 2.89% | -0.06% |
| PNB Housing Finance Ltd. | 1.20% | 1.25% | +0.05% |
| SBI Funds Management Ltd. | 1.07% | 1.03% | -0.04% |
| Bank of Maharashtra | 1.03% | 1.07% | +0.04% |
| Indian Bank | 0.88% | 0.85% | -0.03% |
| Union Bank of India | 0.99% | 0.96% | -0.03% |
| Aditya Birla Capital Ltd. | 3.80% | 3.79% | -0.01% |
| Karur Vysya Bank Ltd. | 2.85% | 2.86% | +0.01% |
| Others | 0.05% | 0.05% | 0.00% |
| DCB Bank Ltd. | 1.04% | 1.04% | 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 | ₹2,911 Cr | 2.17% | 5.8% | 10.5% | 13.5% |
 SBI Banking & Financial Services Fund | ₹10,420 Cr | 2.16% | 5.4% | 10.2% | 13.6% |
 Invesco India Financial Services Fund | ₹1,810 Cr | 2.16% | 7.0% | 10.6% | 14.8% |
 UTI Banking and Financial Services Fund | ₹1,339 Cr | 2.37% | 8.7% | 9.5% | 12.2% |
 Quant BFSI Fund | ₹894 Cr | 3.36% | 7.0% | 12.3% | — |
 Kotak Nifty Financial Services Ex-Bank Index Fund | ₹91.11 Cr | 0.82% | 1.1% | 9.8% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in the banking and financial services activities.
Fund managers
- Chetan GindodiaMr. Gindodia has done B.Com, CA and CFAPrior to joining Mahindra Manulife Mutual Fund, he has worked with PGIM India MF, Alf Accurate Advisors, Multi-Act India and EY
- Vishal JajooMr. Jajoo is a Chartered Accountant, PGDM (Finance) and MBA (Investments)Prior to joining Mahindra Manulife AMC, he has worked with ITI Mutual Fund and Tata Investment Corporation Ltd
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 months6.18% absolute | ₹60,000 | ₹63,708 | 6.18% | |
| 1 year4.54% annualised | ₹1,20,000 | ₹1,22,992 | 2.49% |
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.