Mahindra Manulife Consumption Fund
Thematic-ConsumptionVery HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹21.95+0.20%1 day
- Return since launch
- 10.3%
- 52-week range
- ₹19.32 — ₹23.34
- AUM
- ₹453 Cr
Mahindra Manulife Consumption Fund is a Thematic-Consumption equity fund from Mahindra Manulife Mutual Fund with ₹453 Cr under management, launched in 2018. Over three years it has returned 1.4% a year, against 9.9% for its category. The expense ratio is 2.66% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Consumption Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned -4.9% against -2.9% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 2.4% | +2.7 pts | -0.2% | 4.8% |
| 2Y | 0.3% | −1.9 pts | 2.3% | 2.0% |
| 3Y | 1.4% | −8.5 pts | 9.9% | 2.9% |
| 5Y | 7.6% | −1.9 pts | 9.5% | 8.3% |
| 7Y | 10.6% | −1.4 pts | 12.0% | 11.1% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 6.3% | −0.6 pts | 7.0% | 7.1% |
| 3M | -2.8% | −1.3 pts | -1.5% | -2.6% |
| 6M | 3.5% | −3.2 pts | 6.7% | 4.7% |
| 1Y | -4.6% | −4.4 pts | -0.2% | -2.6% |
| 2Y | -1.5% | −1.4 pts | -0.1% | -0.4% |
| 3Y | 8.5% | −1.4 pts | 9.9% | 8.6% |
| 5Y | 9.2% | −0.4 pts | 9.5% | 8.7% |
| 7Y | 11.6% | −1.9 pts | 13.5% | 12.3% |
Since launch (19 Oct 2018): 10.3%
Calendar-year returns
Category average10.0%
22.6%
7.8%
27.0%
21.1%
1.3%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 1.3% | −0.8 pts | 2.0% |
| 2024 | 21.1% | −2.0 pts | 23.1% |
| 2023 | 27.0% | −3.7 pts | 30.7% |
| 2022 | 7.8% | −0.6 pts | 8.3% |
| 2021 | 22.6% | −6.8 pts | 29.4% |
| 2020 | 10.0% | −7.2 pts | 17.2% |
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
2.69%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 2.10%
- Brokerage
- 0.09%
- Transaction charges
- 0.00%
- Statutory levies
- 0.50%
- Exit load
- Exit load of 1%, 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 India Consumption 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.
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 | -2.55 | 0.09 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.97 | 1.01 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.15 | 0.31 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.19 | 0.41 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 16.23 | 17.32 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Mahindra Manulife Consumption Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity98.5%
- Other1.5%
Market cap split
- Large60.9%
- Mid14.8%
- Small24.3%
- P/E
- 34.17
- P/B
- 6.26
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Eternal Ltd. | Services | 6.73% | ₹30.47 Cr | +5.48% | +4.39% | +5.66% |
| Bharti Airtel Ltd. | Communication | 6.72% | ₹30.43 Cr | +6.49% | +6.70% | +6.81% |
| Mahindra & Mahindra Ltd. | Automobile | 6.25% | ₹28.30 Cr | +6.55% | +6.12% | +5.16% |
| Titan Company Ltd. | Consumer Discretionary | 4.47% | ₹20.24 Cr | +4.69% | +4.54% | +2.36% |
| Bajaj Auto Ltd. | Automobile | 3.84% | ₹17.39 Cr | +3.48% | +3.55% | +1.38% |
| Trent Ltd. | Services | 3.17% | ₹14.36 Cr | +3.64% | +2.20% | +2.08% |
| ITC Ltd. | Consumer Staples | 3.06% | ₹13.87 Cr | +3.40% | +5.21% | +6.40% |
| Maruti Suzuki India Ltd. | Automobile | 2.87% | ₹12.99 Cr | +3.39% | +3.20% | +4.35% |
| TVS Motor Company Ltd. | Automobile | 2.58% | ₹11.67 Cr | +2.55% | +2.17% | +1.87% |
| Hindustan Unilever Ltd. | Consumer Staples | 2.51% | ₹11.37 Cr | +3.34% | +4.22% | +4.36% |
| Aditya Vision Ltd. | Services | 2.48% | ₹11.22 Cr | +2.52% | +2.25% | +1.73% |
| Radico Khaitan Ltd. | Consumer Staples | 2.41% | ₹10.92 Cr | +2.28% | +1.15% | +1.07% |
| Varun Beverages Ltd. | Consumer Staples | 2.21% | ₹10.02 Cr | +2.38% | +1.95% | +1.12% |
| Britannia Industries Ltd. | Consumer Staples | 2.15% | ₹9.75 Cr | +2.48% | +2.53% | +1.83% |
| LG Electronics India Ltd. | Consumer Discretionary | 2.06% | ₹9.31 Cr | +1.70% | +1.71% | — |
| Tata Consumer Products Ltd. | Consumer Staples | 2.05% | ₹9.27 Cr | +1.79% | +1.52% | +2.47% |
| Shaily Engineering Plastics Ltd. | Materials | 2.01% | ₹9.08 Cr | — | — | — |
| Avenue Supermarts Ltd. | Services | 1.95% | ₹8.83 Cr | +3.01% | +2.94% | +2.36% |
| Belrise Industries Ltd. | Automobile | 1.92% | ₹8.68 Cr | +1.74% | +1.47% | +1.31% |
| Tilaknagar Industries Ltd. | Consumer Staples | 1.89% | ₹8.54 Cr | — | — | — |
| Multi Commodity Exchange Of India Ltd. | Services | 1.81% | ₹8.19 Cr | — | — | — |
| DOMS Industries Ltd. | Consumer Staples | 1.78% | ₹8.04 Cr | +1.78% | +1.92% | +1.76% |
| Godfrey Phillips India Ltd. | Consumer Staples | 1.67% | ₹7.55 Cr | +1.50% | — | — |
| Blue Star Ltd. | Consumer Discretionary | 1.64% | ₹7.43 Cr | +1.61% | +1.73% | +1.70% |
| Others | Others | 1.55% | ₹7.01 Cr | +0.09% | +13.35% | +2.49% |
| Mrs. Bectors Food Specialities Ltd. | Consumer Staples | 1.53% | ₹6.95 Cr | +1.22% | +1.32% | +1.24% |
| Chalet Hotels Ltd. | Services | 1.53% | ₹6.94 Cr | +1.35% | +1.26% | +1.22% |
| Hyundai Motor India Ltd. | Automobile | 1.53% | ₹6.91 Cr | — | — | — |
| Krishna Institute of Medical Sciences Ltd | Healthcare | 1.50% | ₹6.81 Cr | +2.37% | — | — |
| Devyani International Ltd. | Services | 1.49% | ₹6.74 Cr | +1.17% | +1.32% | +1.97% |
| Dixon Technologies (India) Ltd. | Capital Goods | 1.45% | ₹6.55 Cr | +1.21% | — | — |
| Hindustan Foods Ltd. | Consumer Staples | 1.40% | ₹6.36 Cr | +1.25% | +1.23% | +1.07% |
| Vodafone Idea Ltd. | Communication | 1.36% | ₹6.15 Cr | +1.39% | +1.04% | — |
| Info Edge (India) Ltd. | Services | 1.31% | ₹5.95 Cr | +0.97% | +1.50% | +1.72% |
| Adani Energy Solutions Ltd. | Energy | 1.29% | ₹5.86 Cr | — | — | — |
| Axis Bank Ltd. | Financial | 1.27% | ₹5.76 Cr | +1.28% | — | — |
| BlackBuck Ltd. | Services | 1.24% | ₹5.59 Cr | +0.99% | — | — |
| Swiggy Ltd. | Services | 1.20% | ₹5.45 Cr | +1.06% | +1.24% | — |
| Greenply Industries Ltd. | Materials | 1.08% | ₹4.87 Cr | +0.98% | +0.64% | +0.91% |
| Interglobe Aviation Ltd. | Services | 1.04% | ₹4.71 Cr | — | — | — |
| Sun TV Network Ltd. | Services | 1.02% | ₹4.60 Cr | — | — | — |
| Divi's Laboratories Ltd. | Healthcare | 0.99% | ₹4.46 Cr | — | — | — |
| Kalyan Jewellers India Ltd. | Consumer Discretionary | 0.98% | ₹4.43 Cr | — | — | — |
| Nestle India Ltd. | Consumer Staples | 0.97% | ₹4.39 Cr | +0.95% | — | — |
| Godrej Consumer Products Ltd. | Consumer Staples | 0.95% | ₹4.32 Cr | +1.04% | +1.10% | +1.68% |
| Ceat Ltd. | Automobile | 0.92% | ₹4.18 Cr | +1.26% | +1.56% | +1.22% |
| Metro Brands Ltd. | Consumer Discretionary | 0.91% | ₹4.13 Cr | +1.00% | +0.96% | +1.17% |
| Gabriel India Ltd. | Automobile | 0.85% | ₹3.85 Cr | — | — | — |
| Kewal Kiran Clothing Ltd. | Textiles | 0.39% | ₹1.77 Cr | +0.92% | +0.83% | +0.89% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Shaily Engineering Plastics Ltd. | 0.00% | 2.01% | +2.01% |
| Polycab India Ltd. | 1.49% | 0.00% | -1.49% |
| Tube Investments Of India Ltd. | 1.38% | 0.00% | -1.38% |
| Interglobe Aviation Ltd. | 0.00% | 1.04% | +1.04% |
| Sun TV Network Ltd. | 0.00% | 1.02% | +1.02% |
| Titan Company Ltd. | 5.49% | 4.47% | -1.01% |
| Divi's Laboratories Ltd. | 0.00% | 0.99% | +0.99% |
| Kalyan Jewellers India Ltd. | 0.00% | 0.98% | +0.98% |
| Mahindra & Mahindra Ltd. | 7.07% | 6.25% | -0.82% |
| Sky Gold And Diamonds Ltd. | 0.69% | 0.00% | -0.69% |
| Kewal Kiran Clothing Ltd. | 0.94% | 0.39% | -0.55% |
| Krishna Institute of Medical Sciences Ltd | 1.95% | 1.50% | -0.44% |
| Avenue Supermarts Ltd. | 2.37% | 1.95% | -0.42% |
| Bajaj Auto Ltd. | 4.24% | 3.84% | -0.39% |
| Varun Beverages Ltd. | 1.90% | 2.21% | +0.32% |
| Bharti Airtel Ltd. | 6.41% | 6.72% | +0.31% |
| ITC Ltd. | 2.76% | 3.06% | +0.31% |
| Belrise Industries Ltd. | 1.71% | 1.92% | +0.20% |
| LG Electronics India Ltd. | 1.87% | 2.06% | +0.18% |
| Blue Star Ltd. | 1.46% | 1.64% | +0.18% |
| Aditya Vision Ltd. | 2.32% | 2.48% | +0.16% |
| Maruti Suzuki India Ltd. | 3.00% | 2.87% | -0.13% |
| Britannia Industries Ltd. | 2.28% | 2.15% | -0.13% |
| Eternal Ltd. | 6.85% | 6.73% | -0.12% |
| Radico Khaitan Ltd. | 2.29% | 2.41% | +0.12% |
| BlackBuck Ltd. | 1.12% | 1.24% | +0.12% |
| Multi Commodity Exchange Of India Ltd. | 1.92% | 1.81% | -0.12% |
| Greenply Industries Ltd. | 0.96% | 1.08% | +0.11% |
| Hindustan Foods Ltd. | 1.49% | 1.40% | -0.08% |
| Hindustan Unilever Ltd. | 2.43% | 2.51% | +0.08% |
| Tilaknagar Industries Ltd. | 1.81% | 1.89% | +0.08% |
| Dixon Technologies (India) Ltd. | 1.52% | 1.45% | -0.07% |
| TVS Motor Company Ltd. | 2.52% | 2.58% | +0.06% |
| Nestle India Ltd. | 1.02% | 0.97% | -0.05% |
| Swiggy Ltd. | 1.26% | 1.20% | -0.05% |
| Trent Ltd. | 3.22% | 3.17% | -0.05% |
| Godfrey Phillips India Ltd. | 1.72% | 1.67% | -0.05% |
| DOMS Industries Ltd. | 1.74% | 1.78% | +0.04% |
| Vodafone Idea Ltd. | 1.39% | 1.36% | -0.03% |
| Ceat Ltd. | 0.89% | 0.92% | +0.03% |
| company:20133 | 0.03% | 0.00% | -0.03% |
| Axis Bank Ltd. | 1.25% | 1.27% | +0.02% |
| Mrs. Bectors Food Specialities Ltd. | 1.56% | 1.53% | -0.02% |
| Devyani International Ltd. | 1.47% | 1.49% | +0.02% |
| Tata Consumer Products Ltd. | 2.07% | 2.05% | -0.02% |
| Godrej Consumer Products Ltd. | 0.94% | 0.95% | +0.02% |
| Chalet Hotels Ltd. | 1.52% | 1.53% | +0.02% |
| Metro Brands Ltd. | 0.92% | 0.91% | -0.01% |
| Gabriel India Ltd. | 0.84% | 0.85% | +0.01% |
| Hyundai Motor India Ltd. | 1.53% | 1.53% | -0.01% |
| Info Edge (India) Ltd. | 1.31% | 1.31% | +0.01% |
| Adani Energy Solutions Ltd. | 1.29% | 1.29% | 0.00% |
| Others | 0.02% | 0.02% | 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 | ₹2,285 Cr | 2.19% | 9.5% | 5.7% | 10.2% |
 Mirae Asset Great Consumer Fund | ₹4,455 Cr | 2.06% | 8.3% | 4.5% | 10.0% |
 Tata India Consumer Fund | ₹2,723 Cr | 2.12% | 14.7% | 8.6% | 13.0% |
 Canara Robeco Consumption Fund | ₹1,872 Cr | 2.15% | 7.8% | 4.3% | 9.6% |
 HSBC Consumption Fund | ₹1,698 Cr | 2.19% | 11.9% | 7.8% | — |
 UTI India Consumer Fund | ₹678 Cr | 2.43% | 4.9% | 3.6% | 8.0% |
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 in a portfolio of companies that are likely to benefit from consumption led demand in India.
Fund managers
- Hemang KapasiMr. Kapasi is B.Com (H), PGDBA (Finance) & CFA.Prior to joining Mahindra Manulife AMC, he has worked with Canara Robecco AMC and ICICI Bank.
- Navin MattaPGDBAPrior to Joining the Mahindra Manulife Investment Management Pvt Ltd. He has worked with BOB Capita, SAFE Enterprises,Bajaj Allianz Life Insurance, HDFC Securities and Daiwa Capital.
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 months3.47% absolute | ₹60,000 | ₹62,082 | 3.47% | |
| 1 year−4.62% annualised | ₹1,20,000 | ₹1,17,039 | −2.47% | |
| 3 years8.47% annualised | ₹3,60,000 | ₹4,11,123 | 14.20% | |
| 5 years9.15% annualised | ₹6,00,000 | ₹7,62,992 | 27.17% |
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 Consumption Fund?
The NAV of Mahindra Manulife Consumption Fund is ₹21.95 as on 9 Nov 2026.
What is the expense ratio of Mahindra Manulife Consumption Fund?
The expense ratio of Mahindra Manulife Consumption Fund is 2.66% per year.
What is the minimum SIP amount for Mahindra Manulife Consumption Fund?
You can start a SIP in Mahindra Manulife Consumption Fund with ₹3,000 a month.
What returns has Mahindra Manulife Consumption Fund given?
Mahindra Manulife Consumption Fund has returned 2.4% over 1 year, 1.4% over 3 years and 7.6% over 5 years (annualised).
Is there a lock-in or exit load on Mahindra Manulife Consumption Fund?
Lock-in: None. Exit load: Exit load of 1%, if redeemed within 3 months..
How risky is Mahindra Manulife Consumption Fund?
Mahindra Manulife Consumption Fund is rated Very High on the SEBI riskometer and belongs to the Thematic-Consumption category.
Which fund house manages Mahindra Manulife Consumption Fund?
Mahindra Manulife Consumption Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹38,154 Cr under management.