Mahindra Manulife Flexi Cap Fund
Flexi CapVery HighOPEN-ENDED
- NAV as on 24 Sep 2026
- ₹15.62-1.44%1 day
- Return since launch
- 9.5%
- 52-week range
- ₹14.28 — ₹16.83
- AUM
- ₹1,590 Cr
Mahindra Manulife Flexi Cap Fund is a Flexi Cap equity fund from Mahindra Manulife Mutual Fund with ₹1,590 Cr under management, launched in 2021. Over three years it has returned 2.0% a year, against 11.4% for its category. The expense ratio is 2.50% 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 -3.6% against -1.8% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | -4.1% | −5.2 pts | 1.1% | -0.6% |
| 2Y | -1.1% | −4.0 pts | 2.9% | 0.7% |
| 3Y | 2.0% | −9.4 pts | 11.4% | 3.6% |
| 5Y | 8.2% | −1.6 pts | 9.8% | 9.0% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -3.6% | −0.1 pts | -3.5% | -3.6% |
| 3M | -0.9% | −1.2 pts | 0.3% | -0.1% |
| 6M | 5.0% | −4.6 pts | 9.7% | 8.7% |
| 1Y | -3.6% | −4.6 pts | 1.1% | -1.8% |
| 2Y | -4.0% | −2.4 pts | -1.6% | -3.2% |
| 3Y | 8.3% | −3.1 pts | 11.4% | 10.0% |
| 5Y | 8.7% | −1.1 pts | 9.8% | 8.7% |
Since launch (30 Jul 2021): 9.5%
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
2.45%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.81%
- Brokerage
- 0.12%
- Transaction charges
- 0.01%
- Statutory levies
- 0.51%
- 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 | -1.64 | 5.64 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.93 | 1.04 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.33 | 0.74 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.43 | 0.98 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 14.36 | 17.32 | 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 31 Aug 2026
Asset allocation
- Equity96.5%
- Other3.5%
Market cap split
- Large55.8%
- Mid25.8%
- Small18.4%
- P/E
- 28.33
- P/B
- 3.51
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Bank Ltd. | Financial | 8.46% | ₹134 Cr | +7.87% | +7.99% | +7.44% |
| HDFC Bank Ltd. | Financial | 3.73% | ₹59.34 Cr | +4.52% | +7.38% | +8.28% |
| Others | Others | 3.52% | ₹55.90 Cr | +0.03% | +2.85% | +0.96% |
| Bajaj Finance Ltd. | Financial | 3.25% | ₹51.69 Cr | +2.91% | +3.55% | +2.64% |
| Bharti Airtel Ltd. | Communication | 3.08% | ₹48.92 Cr | +3.23% | +1.73% | +2.65% |
| Larsen & Toubro Ltd. | Construction | 2.31% | ₹36.79 Cr | +2.43% | +2.86% | +3.54% |
| Eternal Ltd. | Services | 2.13% | ₹33.79 Cr | +1.69% | — | — |
| Kotak Mahindra Bank Ltd. | Financial | 2.08% | ₹33.13 Cr | +3.45% | — | — |
| Axis Bank Ltd. | Financial | 2.08% | ₹33.02 Cr | +1.13% | +3.62% | +2.82% |
| Indusind Bank Ltd. | Financial | 1.93% | ₹30.65 Cr | +1.62% | +1.66% | +1.18% |
| TVS Motor Company Ltd. | Automobile | 1.89% | ₹30.00 Cr | +1.52% | +1.44% | +1.67% |
| UNO Minda Ltd. | Automobile | 1.85% | ₹29.47 Cr | +1.67% | +1.28% | — |
| Reliance Industries Ltd. | Energy | 1.85% | ₹29.37 Cr | +1.99% | +4.97% | +4.95% |
| The Federal Bank Ltd. | Financial | 1.74% | ₹27.64 Cr | +1.03% | — | — |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 1.62% | ₹25.80 Cr | +1.53% | — | — |
| Tech Mahindra Ltd. | Technology | 1.53% | ₹24.26 Cr | +1.45% | +1.30% | — |
| Cochin Shipyard Ltd. | Capital Goods | 1.47% | ₹23.41 Cr | +1.20% | — | — |
| Coforge Ltd. | Technology | 1.45% | ₹23.03 Cr | — | — | — |
| Torrent Pharmaceuticals Ltd. | Healthcare | 1.43% | ₹22.80 Cr | — | — | — |
| Adani Ports and Special Economic Zone Ltd. | Services | 1.40% | ₹22.30 Cr | +1.65% | — | — |
| Tata Capital Ltd. | Financial | 1.39% | ₹22.13 Cr | +1.21% | +1.29% | — |
| Info Edge (India) Ltd. | Services | 1.39% | ₹22.04 Cr | +1.09% | +1.11% | +1.25% |
| Maruti Suzuki India Ltd. | Automobile | 1.38% | ₹21.95 Cr | +1.39% | +1.36% | +0.61% |
| RBL Bank Ltd. | Financial | 1.36% | ₹21.68 Cr | +1.29% | +0.68% | — |
| Polycab India Ltd. | Capital Goods | 1.35% | ₹21.53 Cr | — | — | — |
| Trent Ltd. | Services | 1.34% | ₹21.37 Cr | +1.37% | — | — |
| Oil And Natural Gas Corporation Ltd. | Energy | 1.31% | ₹20.86 Cr | +1.56% | +1.62% | — |
| Neuland Laboratories Ltd. | Healthcare | 1.30% | ₹20.71 Cr | +1.01% | +0.68% | +0.73% |
| Shriram Finance Ltd | Financial | 1.27% | ₹20.13 Cr | +0.89% | — | — |
| Persistent Systems Ltd. | Technology | 1.23% | ₹19.58 Cr | +0.85% | — | — |
| Bajaj Auto Ltd. | Automobile | 1.22% | ₹19.46 Cr | +1.27% | — | — |
| NMDC Ltd. | Metals & Mining | 1.22% | ₹19.40 Cr | +1.27% | — | — |
| Multi Commodity Exchange Of India Ltd. | Services | 1.22% | ₹19.38 Cr | — | — | +0.60% |
| Engineers India Ltd. | Construction | 1.20% | ₹19.12 Cr | +1.11% | — | — |
| Titan Company Ltd. | Consumer Discretionary | 1.15% | ₹18.22 Cr | +0.95% | +1.72% | +1.58% |
| Tata Power Company Ltd. | Energy | 1.12% | ₹17.87 Cr | +1.42% | +1.18% | +1.90% |
| Anthem Biosciences Ltd. | Healthcare | 1.11% | ₹17.69 Cr | +0.03% | — | — |
| Aarti Industries Ltd. | Chemicals | 1.11% | ₹17.57 Cr | +1.04% | +0.24% | — |
| Godrej Properties Ltd. | Construction | 1.09% | ₹17.39 Cr | +1.00% | +0.85% | — |
| Jubilant Ingrevia Ltd. | Chemicals | 1.07% | ₹16.98 Cr | +1.06% | — | — |
| Dr. Lal Pathlabs Ltd. | Healthcare | 1.06% | ₹16.92 Cr | +0.92% | — | — |
| ACME Solar Holdings Ltd. | Energy | 1.06% | ₹16.88 Cr | — | — | — |
| Grasim Industries Ltd. | Materials | 1.06% | ₹16.86 Cr | +1.02% | — | — |
| Zydus Lifesciences Ltd. | Healthcare | 1.05% | ₹16.71 Cr | +1.02% | — | — |
| company:17009 | Healthcare | 1.03% | ₹16.30 Cr | — | — | — |
| LG Electronics India Ltd. | Consumer Discretionary | 1.01% | ₹15.99 Cr | +0.94% | +0.86% | — |
| Carborundum Universal Ltd. | Metals & Mining | 0.97% | ₹15.43 Cr | +0.94% | — | — |
| Vodafone Idea Ltd. | Communication | 0.94% | ₹14.90 Cr | +1.19% | — | — |
| Interglobe Aviation Ltd. | Services | 0.92% | ₹14.66 Cr | +0.81% | — | +0.78% |
| Tata Steel Ltd. | Metals & Mining | 0.91% | ₹14.47 Cr | +1.07% | +1.04% | +1.30% |
| Voltas Ltd. | Consumer Discretionary | 0.91% | ₹14.44 Cr | +0.99% | +1.21% | +1.18% |
| Suzlon Energy Ltd. | Capital Goods | 0.90% | ₹14.26 Cr | +1.12% | — | — |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Discretionary | 0.89% | ₹14.15 Cr | +1.10% | — | — |
| Astral Ltd. | Materials | 0.86% | ₹13.66 Cr | +0.93% | +0.94% | +0.71% |
| Varun Beverages Ltd. | Consumer Staples | 0.86% | ₹13.62 Cr | — | — | — |
| Aster DM Quality Care Ltd. | Healthcare | 0.83% | ₹13.13 Cr | +0.57% | — | — |
| Vishal Mega Mart Ltd. | Services | 0.80% | ₹12.75 Cr | +0.92% | +0.64% | — |
| Belrise Industries Ltd. | Automobile | 0.78% | ₹12.43 Cr | — | — | — |
| Titagarh Rail Systems Ltd. | Automobile | 0.78% | ₹12.39 Cr | +0.54% | — | — |
| Bandhan Bank Ltd. | Financial | 0.78% | ₹12.33 Cr | +1.03% | +1.03% | — |
| Adani Enterprises Ltd. | Services | 0.77% | ₹12.21 Cr | — | — | — |
| Radico Khaitan Ltd. | Consumer Staples | 0.76% | ₹12.11 Cr | — | — | — |
| DOMS Industries Ltd. | Consumer Staples | 0.74% | ₹11.73 Cr | +0.89% | +0.86% | +0.99% |
| MTAR Technologies Ltd. | Capital Goods | 0.71% | ₹11.27 Cr | +0.83% | +0.49% | — |
| Elgi Equipments Ltd. | Capital Goods | 0.71% | ₹11.26 Cr | +0.67% | +0.48% | — |
| Arvind Fashions Ltd. | Textiles | 0.65% | ₹10.28 Cr | +0.69% | +0.57% | +0.99% |
| Mankind Pharma Ltd. | Healthcare | 0.63% | ₹9.99 Cr | +1.42% | +0.96% | +0.72% |
| Kirloskar Oil Engines Ltd. | Capital Goods | 0.53% | ₹8.40 Cr | +0.51% | — | — |
| company:19964 | Services | 0.52% | ₹8.21 Cr | — | — | — |
| company:896 | Financial | 0.51% | ₹8.14 Cr | — | — | — |
| Schaeffler India Ltd. | Capital Goods | 0.51% | ₹8.03 Cr | +0.54% | — | — |
| K.P.R. Mill Ltd. | Textiles | 0.50% | ₹8.00 Cr | +0.43% | — | — |
| Manipal Health Enterprises Ltd. | Healthcare | 0.41% | ₹6.46 Cr | — | — | — |
| TVS Motor Company Ltd - Pref. Shares | Automobile | 0.02% | ₹0.33 Cr | +0.02% | +0.02% | +0.02% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Infosys Ltd. | 1.35% | 0.00% | -1.35% |
| Avenue Supermarts Ltd. | 1.26% | 0.00% | -1.26% |
| company:17009 | 0.00% | 1.03% | +1.03% |
| Coforge Ltd. | 0.55% | 1.45% | +0.90% |
| Kotak Mahindra Bank Ltd. | 2.65% | 2.08% | -0.57% |
| company:19964 | 0.00% | 0.52% | +0.52% |
| company:896 | 0.00% | 0.51% | +0.51% |
| The Federal Bank Ltd. | 1.24% | 1.74% | +0.50% |
| Bharti Airtel Ltd. | 3.38% | 3.08% | -0.30% |
| Bajaj Finance Ltd. | 3.54% | 3.25% | -0.29% |
| Radico Khaitan Ltd. | 0.50% | 0.76% | +0.26% |
| Multi Commodity Exchange Of India Ltd. | 0.97% | 1.22% | +0.25% |
| HDFC Bank Ltd. | 3.97% | 3.73% | -0.24% |
| Neuland Laboratories Ltd. | 1.09% | 1.30% | +0.21% |
| Engineers India Ltd. | 1.03% | 1.20% | +0.17% |
| Eternal Ltd. | 1.97% | 2.13% | +0.16% |
| MTAR Technologies Ltd. | 0.58% | 0.71% | +0.13% |
| UNO Minda Ltd. | 1.73% | 1.85% | +0.12% |
| LG Electronics India Ltd. | 0.89% | 1.01% | +0.12% |
| Tata Power Company Ltd. | 1.24% | 1.12% | -0.12% |
| Voltas Ltd. | 1.02% | 0.91% | -0.11% |
| Adani Ports and Special Economic Zone Ltd. | 1.51% | 1.40% | -0.11% |
| Jubilant Ingrevia Ltd. | 1.17% | 1.07% | -0.10% |
| Crompton Greaves Consumer Electricals Ltd. | 0.99% | 0.89% | -0.10% |
| Axis Bank Ltd. | 1.98% | 2.08% | +0.10% |
| Varun Beverages Ltd. | 0.95% | 0.86% | -0.09% |
| Anthem Biosciences Ltd. | 1.02% | 1.11% | +0.09% |
| ACME Solar Holdings Ltd. | 0.97% | 1.06% | +0.09% |
| Manipal Health Enterprises Ltd. | 0.32% | 0.41% | +0.09% |
| Info Edge (India) Ltd. | 1.30% | 1.39% | +0.09% |
| Aster DM Quality Care Ltd. | 0.91% | 0.83% | -0.08% |
| Grasim Industries Ltd. | 0.98% | 1.06% | +0.08% |
| Maruti Suzuki India Ltd. | 1.46% | 1.38% | -0.08% |
| Vodafone Idea Ltd. | 0.86% | 0.94% | +0.08% |
| Cochin Shipyard Ltd. | 1.40% | 1.47% | +0.07% |
| Oil And Natural Gas Corporation Ltd. | 1.38% | 1.31% | -0.07% |
| Shriram Finance Ltd | 1.20% | 1.27% | +0.07% |
| Trent Ltd. | 1.41% | 1.34% | -0.07% |
| Aarti Industries Ltd. | 1.04% | 1.11% | +0.07% |
| Reliance Industries Ltd. | 1.91% | 1.85% | -0.06% |
| Elgi Equipments Ltd. | 0.65% | 0.71% | +0.06% |
| Godrej Properties Ltd. | 1.15% | 1.09% | -0.06% |
| Bandhan Bank Ltd. | 0.83% | 0.78% | -0.05% |
| Bajaj Auto Ltd. | 1.17% | 1.22% | +0.05% |
| K.P.R. Mill Ltd. | 0.45% | 0.50% | +0.05% |
| Titan Company Ltd. | 1.10% | 1.15% | +0.05% |
| Larsen & Toubro Ltd. | 2.27% | 2.31% | +0.04% |
| Adani Enterprises Ltd. | 0.81% | 0.77% | -0.04% |
| ICICI Bank Ltd. | 8.42% | 8.46% | +0.04% |
| Astral Ltd. | 0.82% | 0.86% | +0.04% |
| Polycab India Ltd. | 1.32% | 1.35% | +0.03% |
| Tech Mahindra Ltd. | 1.56% | 1.53% | -0.03% |
| Kirloskar Oil Engines Ltd. | 0.56% | 0.53% | -0.03% |
| Carborundum Universal Ltd. | 0.94% | 0.97% | +0.03% |
| NMDC Ltd. | 1.19% | 1.22% | +0.03% |
| Tata Steel Ltd. | 0.94% | 0.91% | -0.03% |
| Torrent Pharmaceuticals Ltd. | 1.46% | 1.43% | -0.03% |
| Vishal Mega Mart Ltd. | 0.78% | 0.80% | +0.02% |
| Mankind Pharma Ltd. | 0.65% | 0.63% | -0.02% |
| Zydus Lifesciences Ltd. | 1.03% | 1.05% | +0.02% |
| Belrise Industries Ltd. | 0.80% | 0.78% | -0.02% |
| Sun Pharmaceutical Industries Ltd. | 1.64% | 1.62% | -0.02% |
| Schaeffler India Ltd. | 0.52% | 0.51% | -0.01% |
| Suzlon Energy Ltd. | 0.91% | 0.90% | -0.01% |
| DOMS Industries Ltd. | 0.75% | 0.74% | -0.01% |
| Indusind Bank Ltd. | 1.94% | 1.93% | -0.01% |
| Titagarh Rail Systems Ltd. | 0.79% | 0.78% | -0.01% |
| Dr. Lal Pathlabs Ltd. | 1.06% | 1.06% | 0.00% |
| Others | 0.02% | 0.02% | 0.00% |
| RBL Bank Ltd. | 1.36% | 1.36% | 0.00% |
| Arvind Fashions Ltd. | 0.65% | 0.65% | 0.00% |
| TVS Motor Company Ltd. | 1.89% | 1.89% | 0.00% |
| Tata Capital Ltd. | 1.39% | 1.39% | 0.00% |
| Interglobe Aviation Ltd. | 0.92% | 0.92% | 0.00% |
| Persistent Systems Ltd. | 1.23% | 1.23% | 0.00% |
| TVS Motor Company Ltd - Pref. Shares | 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 | ₹5,332 Cr | 2.22% | 12.3% | 9.9% | 15.5% |
 Motilal Oswal Flexi Cap Fund | ₹14,160 Cr | 2.05% | 12.8% | 9.6% | 14.9% |
 Invesco India Flexi Cap Fund | ₹5,709 Cr | 2.07% | 5.4% | 8.0% | — |
 Bank of India Flexi Cap Fund | ₹2,953 Cr | 2.25% | 13.1% | 10.6% | 16.0% |
 360 ONE FlexiCap Fund | ₹2,250 Cr | 2.38% | 14.6% | 10.1% | — |
 ITI Flexi Cap Fund | ₹1,588 Cr | 2.34% | 15.8% | 11.6% | — |
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 months5.05% absolute | ₹60,000 | ₹63,030 | 5.05% | |
| 1 year−3.57% annualised | ₹1,20,000 | ₹1,17,705 | −1.91% | |
| 3 years8.31% annualised | ₹3,60,000 | ₹4,10,076 | 13.91% | |
| 5 years8.70% annualised | ₹6,00,000 | ₹7,53,757 | 25.63% |
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 ₹15.62 as on 24 Sep 2026.
What is the expense ratio of Mahindra Manulife Flexi Cap Fund?
The expense ratio of Mahindra Manulife Flexi Cap Fund is 2.50% 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 -4.1% over 1 year, 2.0% over 3 years and 8.2% 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 ₹34,805 Cr under management.