Mahindra Manulife Flexi Cap Fund
Flexi CapVery HighOPEN-ENDED
- NAV as on 6 Nov 2026
- ₹15.93+0.98%1 day
- Return since launch
- 9.3%
- 52-week range
- ₹14.28 — ₹16.83
- AUM
- ₹1,510 Cr
Mahindra Manulife Flexi Cap Fund is a Flexi Cap equity fund from Mahindra Manulife Mutual Fund with ₹1,510 Cr under management, launched in 2021. Over three years it has returned 2.7% a year, against 12.4% for its category. The expense ratio is 2.48% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Flexi Cap Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned -2.9% 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 | 1.1% | −1.3 pts | 2.4% | 5.7% |
| 2Y | 1.4% | −4.8 pts | 6.2% | 3.8% |
| 3Y | 2.7% | −9.7 pts | 12.4% | 4.6% |
| 5Y | 8.3% | −1.5 pts | 9.8% | 9.3% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 3.8% | −0.2 pts | 4.1% | 5.3% |
| 3M | -1.3% | −0.4 pts | -0.9% | -1.2% |
| 6M | 0.9% | −2.8 pts | 3.8% | 4.8% |
| 1Y | -2.9% | −5.3 pts | 2.4% | -0.9% |
| 2Y | 0.2% | −2.3 pts | 2.5% | 1.3% |
| 3Y | 9.3% | −3.1 pts | 12.4% | 10.8% |
| 5Y | 8.7% | −1.1 pts | 9.8% | 8.6% |
Since launch (30 Jul 2021): 9.3%
Calendar-year returns
Category average1.4%
30.9%
14.5%
6.8%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 6.8% | +2.6 pts | 4.2% |
| 2024 | 14.5% | −7.3 pts | 21.8% |
| 2023 | 30.9% | +1.2 pts | 29.7% |
| 2022 | 1.4% | −0.3 pts | 1.7% |
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
2.44%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.81%
- Brokerage
- 0.12%
- Transaction charges
- 0.01%
- Statutory levies
- 0.50%
- Exit load
- Exit load 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 500 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 | -1.92 | 5.44 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.93 | 1.01 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.20 | 0.62 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.26 | 0.84 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 14.72 | 17.12 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Mahindra Manulife Flexi Cap Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity96.8%
- Other3.2%
Market cap split
- Large53.0%
- Mid23.2%
- Small23.7%
- P/E
- 27.45
- P/B
- 3.45
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Bank Ltd. | Financial | 6.44% | ₹97.15 Cr | +8.16% | +7.90% | +7.31% |
| HDFC Bank Ltd. | Financial | 3.93% | ₹59.32 Cr | +4.74% | +6.38% | +8.39% |
| Others | Others | 3.16% | ₹47.76 Cr | +0.09% | +5.07% | +0.84% |
| Axis Bank Ltd. | Financial | 2.55% | ₹38.50 Cr | +2.19% | +3.03% | +3.62% |
| Eternal Ltd. | Services | 2.50% | ₹37.68 Cr | +1.75% | +0.98% | — |
| Bharti Airtel Ltd. | Communication | 2.49% | ₹37.60 Cr | +3.21% | +2.34% | +2.61% |
| Bajaj Finance Ltd. | Financial | 2.38% | ₹35.98 Cr | +3.15% | +2.30% | +3.47% |
| Larsen & Toubro Ltd. | Construction | 2.02% | ₹30.43 Cr | +2.42% | +2.89% | +3.57% |
| Kotak Mahindra Bank Ltd. | Financial | 1.92% | ₹28.98 Cr | +2.69% | +2.14% | — |
| The Federal Bank Ltd. | Financial | 1.91% | ₹28.88 Cr | +1.15% | — | — |
| Reliance Industries Ltd. | Energy | 1.81% | ₹27.30 Cr | +1.91% | +4.35% | +5.03% |
| UNO Minda Ltd. | Automobile | 1.74% | ₹26.21 Cr | +1.61% | +1.47% | — |
| Divi's Laboratories Ltd. | Healthcare | 1.72% | ₹26.02 Cr | — | — | — |
| Torrent Pharmaceuticals Ltd. | Healthcare | 1.69% | ₹25.44 Cr | — | — | — |
| Adani Ports and Special Economic Zone Ltd. | Services | 1.67% | ₹25.18 Cr | +1.63% | — | — |
| Titan Company Ltd. | Consumer Discretionary | 1.60% | ₹24.17 Cr | +1.01% | +1.56% | +1.46% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 1.56% | ₹23.62 Cr | +1.55% | +1.25% | — |
| TVS Motor Company Ltd. | Automobile | 1.53% | ₹23.03 Cr | +1.53% | +1.65% | +1.62% |
| RBL Bank Ltd. | Financial | 1.52% | ₹22.99 Cr | +1.35% | +0.78% | — |
| Tech Mahindra Ltd. | Technology | 1.50% | ₹22.71 Cr | +1.34% | +1.47% | — |
| Indusind Bank Ltd. | Financial | 1.50% | ₹22.67 Cr | +1.60% | +1.45% | +1.40% |
| Engineers India Ltd. | Construction | 1.50% | ₹22.60 Cr | +1.13% | — | — |
| Multi Commodity Exchange Of India Ltd. | Services | 1.46% | ₹22.11 Cr | — | — | — |
| Dr. Lal Pathlabs Ltd. | Healthcare | 1.40% | ₹21.16 Cr | +0.92% | +0.82% | — |
| Cochin Shipyard Ltd. | Capital Goods | 1.35% | ₹20.38 Cr | +1.21% | — | — |
| Oil And Natural Gas Corporation Ltd. | Energy | 1.35% | ₹20.32 Cr | +1.36% | +1.82% | — |
| Coforge Ltd. | Technology | 1.34% | ₹20.29 Cr | — | — | — |
| LG Electronics India Ltd. | Consumer Discretionary | 1.33% | ₹20.03 Cr | +0.94% | +0.86% | — |
| Ujjivan Small Finance Bank Ltd. | Financial | 1.32% | ₹19.92 Cr | — | — | — |
| CarTrade Tech Ltd. | Services | 1.29% | ₹19.49 Cr | — | — | — |
| Neuland Laboratories Ltd. | Healthcare | 1.27% | ₹19.22 Cr | +1.07% | +0.96% | +0.79% |
| Zydus Lifesciences Ltd. | Healthcare | 1.25% | ₹18.93 Cr | +1.03% | — | — |
| Persistent Systems Ltd. | Technology | 1.22% | ₹18.48 Cr | +0.97% | — | — |
| ACME Solar Holdings Ltd. | Energy | 1.22% | ₹18.44 Cr | +0.18% | — | — |
| Clean Max Enviro Energy Solutions Ltd. | Energy | 1.22% | ₹18.38 Cr | — | — | — |
| Polycab India Ltd. | Capital Goods | 1.21% | ₹18.30 Cr | +1.34% | — | — |
| Shriram Finance Ltd | Financial | 1.18% | ₹17.82 Cr | +0.96% | +0.89% | — |
| Carborundum Universal Ltd. | Metals & Mining | 1.16% | ₹17.47 Cr | +1.05% | — | — |
| Bajaj Auto Ltd. | Automobile | 1.16% | ₹17.44 Cr | +1.15% | +1.03% | — |
| Anthem Biosciences Ltd. | Healthcare | 1.13% | ₹17.01 Cr | +0.98% | +0.19% | — |
| Acutaas Chemicals Ltd. | Healthcare | 1.12% | ₹16.92 Cr | — | — | — |
| NMDC Ltd. | Metals & Mining | 1.12% | ₹16.84 Cr | +1.20% | +0.54% | — |
| Jubilant Ingrevia Ltd. | Chemicals | 1.09% | ₹16.44 Cr | +0.98% | — | — |
| Aarti Industries Ltd. | Chemicals | 1.06% | ₹15.94 Cr | +0.98% | +0.67% | — |
| Trent Ltd. | Services | 1.05% | ₹15.92 Cr | +1.56% | +0.97% | — |
| Smartworks Coworking Spaces Ltd. | Services | 1.05% | ₹15.87 Cr | — | — | — |
| Astral Ltd. | Materials | 1.05% | ₹15.86 Cr | +0.77% | +0.99% | +0.86% |
| Aster DM Quality Care Ltd. | Healthcare | 1.03% | ₹15.60 Cr | +0.87% | +0.57% | — |
| Suzlon Energy Ltd. | Capital Goods | 1.02% | ₹15.40 Cr | +1.13% | — | — |
| Grasim Industries Ltd. | Materials | 1.01% | ₹15.31 Cr | +0.99% | — | — |
| Maruti Suzuki India Ltd. | Automobile | 1.01% | ₹15.20 Cr | +1.47% | +1.42% | +0.65% |
| Hindustan Aeronautics Ltd. | Capital Goods | 0.99% | ₹14.94 Cr | — | — | — |
| Varun Beverages Ltd. | Consumer Staples | 0.97% | ₹14.69 Cr | — | — | — |
| Titagarh Rail Systems Ltd. | Automobile | 0.96% | ₹14.55 Cr | +0.86% | — | — |
| Tata Steel Ltd. | Metals & Mining | 0.96% | ₹14.47 Cr | +0.95% | +2.13% | +1.79% |
| Interglobe Aviation Ltd. | Services | 0.92% | ₹13.96 Cr | +0.96% | — | +0.37% |
| Vodafone Idea Ltd. | Communication | 0.89% | ₹13.47 Cr | +0.96% | — | — |
| Bandhan Bank Ltd. | Financial | 0.89% | ₹13.44 Cr | +0.99% | +0.69% | — |
| Belrise Industries Ltd. | Automobile | 0.85% | ₹12.86 Cr | — | — | — |
| MTAR Technologies Ltd. | Capital Goods | 0.83% | ₹12.48 Cr | +0.78% | +0.49% | — |
| Adani Enterprises Ltd. | Services | 0.82% | ₹12.40 Cr | — | — | — |
| Elgi Equipments Ltd. | Capital Goods | 0.81% | ₹12.23 Cr | +0.69% | +0.46% | — |
| Radico Khaitan Ltd. | Consumer Staples | 0.78% | ₹11.79 Cr | — | +0.13% | — |
| Vishal Mega Mart Ltd. | Services | 0.77% | ₹11.64 Cr | +0.87% | +0.86% | — |
| DOMS Industries Ltd. | Consumer Staples | 0.73% | ₹11.07 Cr | +0.93% | +0.94% | +1.00% |
| Manipal Health Enterprises Ltd. | Healthcare | 0.73% | ₹11.01 Cr | — | — | — |
| Piramal Finance Ltd. | Financial | 0.72% | ₹10.91 Cr | — | — | — |
| Kirloskar Oil Engines Ltd. | Capital Goods | 0.61% | ₹9.22 Cr | +0.61% | — | — |
| Arvind Fashions Ltd. | Textiles | 0.58% | ₹8.80 Cr | +0.69% | +0.72% | +0.70% |
| Tata Capital Ltd. | Financial | 0.53% | ₹8.02 Cr | +1.41% | +1.30% | — |
| Schaeffler India Ltd. | Capital Goods | 0.52% | ₹7.79 Cr | +0.54% | — | — |
| One 97 Communications Ltd. | Services | 0.51% | ₹7.72 Cr | — | — | — |
| K.P.R. Mill Ltd. | Textiles | 0.50% | ₹7.49 Cr | +0.51% | +0.40% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| ICICI Bank Ltd. | 8.46% | 6.44% | -2.03% |
| Divi's Laboratories Ltd. | 0.00% | 1.72% | +1.72% |
| Info Edge (India) Ltd. | 1.39% | 0.00% | -1.39% |
| Ujjivan Small Finance Bank Ltd. | 0.00% | 1.32% | +1.32% |
| CarTrade Tech Ltd. | 0.00% | 1.29% | +1.29% |
| Clean Max Enviro Energy Solutions Ltd. | 0.00% | 1.22% | +1.22% |
| Tata Power Company Ltd. | 1.12% | 0.00% | -1.12% |
| Godrej Properties Ltd. | 1.09% | 0.00% | -1.09% |
| Hindustan Aeronautics Ltd. | 0.00% | 0.99% | +0.99% |
| Voltas Ltd. | 0.91% | 0.00% | -0.91% |
| Crompton Greaves Consumer Electricals Ltd. | 0.89% | 0.00% | -0.89% |
| Bajaj Finance Ltd. | 3.25% | 2.38% | -0.87% |
| Tata Capital Ltd. | 1.39% | 0.53% | -0.86% |
| Mankind Pharma Ltd. | 0.63% | 0.00% | -0.63% |
| Bharti Airtel Ltd. | 3.08% | 2.49% | -0.59% |
| Smartworks Coworking Spaces Ltd. | 0.52% | 1.05% | +0.53% |
| One 97 Communications Ltd. | 0.00% | 0.51% | +0.51% |
| Axis Bank Ltd. | 2.08% | 2.55% | +0.47% |
| Titan Company Ltd. | 1.15% | 1.60% | +0.46% |
| Indusind Bank Ltd. | 1.93% | 1.50% | -0.43% |
| Maruti Suzuki India Ltd. | 1.38% | 1.01% | -0.37% |
| Eternal Ltd. | 2.13% | 2.50% | +0.37% |
| TVS Motor Company Ltd. | 1.89% | 1.53% | -0.36% |
| Dr. Lal Pathlabs Ltd. | 1.06% | 1.40% | +0.34% |
| Manipal Health Enterprises Ltd. | 0.41% | 0.73% | +0.32% |
| LG Electronics India Ltd. | 1.01% | 1.33% | +0.32% |
| Larsen & Toubro Ltd. | 2.31% | 2.02% | -0.30% |
| Engineers India Ltd. | 1.20% | 1.50% | +0.29% |
| Trent Ltd. | 1.34% | 1.05% | -0.29% |
| Adani Ports and Special Economic Zone Ltd. | 1.40% | 1.67% | +0.26% |
| Torrent Pharmaceuticals Ltd. | 1.43% | 1.69% | +0.25% |
| Multi Commodity Exchange Of India Ltd. | 1.22% | 1.46% | +0.25% |
| Piramal Finance Ltd. | 0.51% | 0.72% | +0.21% |
| Aster DM Quality Care Ltd. | 0.83% | 1.03% | +0.21% |
| Zydus Lifesciences Ltd. | 1.05% | 1.25% | +0.20% |
| HDFC Bank Ltd. | 3.73% | 3.93% | +0.20% |
| Astral Ltd. | 0.86% | 1.05% | +0.19% |
| Carborundum Universal Ltd. | 0.97% | 1.16% | +0.19% |
| Titagarh Rail Systems Ltd. | 0.78% | 0.96% | +0.18% |
| The Federal Bank Ltd. | 1.74% | 1.91% | +0.17% |
| Kotak Mahindra Bank Ltd. | 2.08% | 1.92% | -0.16% |
| ACME Solar Holdings Ltd. | 1.06% | 1.22% | +0.16% |
| RBL Bank Ltd. | 1.36% | 1.52% | +0.16% |
| Polycab India Ltd. | 1.35% | 1.21% | -0.14% |
| Suzlon Energy Ltd. | 0.90% | 1.02% | +0.12% |
| Cochin Shipyard Ltd. | 1.47% | 1.35% | -0.12% |
| UNO Minda Ltd. | 1.85% | 1.74% | -0.12% |
| MTAR Technologies Ltd. | 0.71% | 0.83% | +0.12% |
| Varun Beverages Ltd. | 0.86% | 0.97% | +0.12% |
| Bandhan Bank Ltd. | 0.78% | 0.89% | +0.11% |
| NMDC Ltd. | 1.22% | 1.12% | -0.11% |
| Coforge Ltd. | 1.45% | 1.34% | -0.10% |
| Elgi Equipments Ltd. | 0.71% | 0.81% | +0.10% |
| Acutaas Chemicals Ltd. | 1.03% | 1.12% | +0.09% |
| Shriram Finance Ltd | 1.27% | 1.18% | -0.09% |
| Kirloskar Oil Engines Ltd. | 0.53% | 0.61% | +0.08% |
| Belrise Industries Ltd. | 0.78% | 0.85% | +0.07% |
| Bajaj Auto Ltd. | 1.22% | 1.16% | -0.07% |
| Arvind Fashions Ltd. | 0.65% | 0.58% | -0.06% |
| Sun Pharmaceutical Industries Ltd. | 1.62% | 1.56% | -0.06% |
| Adani Enterprises Ltd. | 0.77% | 0.82% | +0.05% |
| Aarti Industries Ltd. | 1.11% | 1.06% | -0.05% |
| Tata Steel Ltd. | 0.91% | 0.96% | +0.05% |
| Grasim Industries Ltd. | 1.06% | 1.01% | -0.05% |
| Vodafone Idea Ltd. | 0.94% | 0.89% | -0.05% |
| Reliance Industries Ltd. | 1.85% | 1.81% | -0.04% |
| Oil And Natural Gas Corporation Ltd. | 1.31% | 1.35% | +0.03% |
| Vishal Mega Mart Ltd. | 0.80% | 0.77% | -0.03% |
| Neuland Laboratories Ltd. | 1.30% | 1.27% | -0.03% |
| Tech Mahindra Ltd. | 1.53% | 1.50% | -0.02% |
| company:20133 | 0.02% | 0.00% | -0.02% |
| Jubilant Ingrevia Ltd. | 1.07% | 1.09% | +0.02% |
| Radico Khaitan Ltd. | 0.76% | 0.78% | +0.02% |
| Anthem Biosciences Ltd. | 1.11% | 1.13% | +0.01% |
| Schaeffler India Ltd. | 0.51% | 0.52% | +0.01% |
| Persistent Systems Ltd. | 1.23% | 1.22% | -0.01% |
| K.P.R. Mill Ltd. | 0.50% | 0.50% | -0.01% |
| DOMS Industries Ltd. | 0.74% | 0.73% | 0.00% |
| Interglobe Aviation Ltd. | 0.92% | 0.92% | 0.00% |
| Others | 0.02% | 0.03% | 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 | ₹26,433 Cr | 2.01% | 14.5% | 9.9% | 14.9% |
 HDFC Flexi Cap Fund | ₹1,08,547 Cr | 1.36% | 10.5% | 9.5% | 15.1% |
 Motilal Oswal Flexi Cap Fund | ₹13,446 Cr | 1.97% | 14.7% | 9.0% | 14.6% |
 Invesco India Flexi Cap Fund | ₹5,488 Cr | 2.08% | 15.4% | 9.7% | — |
 Bank of India Flexi Cap Fund | ₹3,098 Cr | 2.29% | 11.9% | 9.1% | 15.0% |
 ITI Flexi Cap Fund | ₹1,588 Cr | 2.33% | 20.0% | 12.2% | — |
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 diversified portfolio of equity and equity-related securities across market capitalization.
Fund managers
- Kirti DalviMMS (Finance), CFA level 2Prior to Joining the Mahindra Manulife AMC he has worked with ENAM AMC, Angel Broking 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.
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 months0.95% absolute | ₹60,000 | ₹60,570 | 0.95% | |
| 1 year−2.87% annualised | ₹1,20,000 | ₹1,18,151 | −1.54% | |
| 3 years9.29% annualised | ₹3,60,000 | ₹4,16,539 | 15.71% | |
| 5 years8.67% annualised | ₹6,00,000 | ₹7,53,146 | 25.52% |
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 Flexi Cap Fund?
The NAV of Mahindra Manulife Flexi Cap Fund is ₹15.93 as on 6 Nov 2026.
What is the expense ratio of Mahindra Manulife Flexi Cap Fund?
The expense ratio of Mahindra Manulife Flexi Cap Fund is 2.48% per year.
What is the minimum SIP amount for Mahindra Manulife Flexi Cap Fund?
You can start a SIP in Mahindra Manulife Flexi Cap Fund with ₹3,000 a month.
What returns has Mahindra Manulife Flexi Cap Fund given?
Mahindra Manulife Flexi Cap Fund has returned 1.1% over 1 year, 2.7% over 3 years and 8.3% over 5 years (annualised).
Is there a lock-in or exit load on Mahindra Manulife Flexi Cap Fund?
Lock-in: None. Exit load: Exit load 1% if redeemed within 3 months..
How risky is Mahindra Manulife Flexi Cap Fund?
Mahindra Manulife Flexi Cap Fund is rated Very High on the SEBI riskometer and belongs to the Flexi Cap category.
Which fund house manages Mahindra Manulife Flexi Cap Fund?
Mahindra Manulife Flexi Cap Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹38,154 Cr under management.