Mahindra Manulife Innovation Opportunities Fund
Thematic-InnovationVery HighOPEN-ENDED
- NAV as on 25 Sep 2026
- ₹10.76+0.15%1 day
- Return since launch
- 10.0%
- 52-week range
- ₹9.18 — ₹11.25
- AUM
- ₹263 Cr
Mahindra Manulife Innovation Opportunities Fund is a Thematic-Innovation equity fund from Mahindra Manulife Mutual Fund with ₹263 Cr under management, launched in 2026. The expense ratio is 2.52% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Innovation Opportunities Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +7.4% against +13.3% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -4.2% | −1.7 pts | -2.5% | -2.9% |
| 3M | -0.3% | −6.0 pts | 5.7% | 4.2% |
| 6M | 14.4% | −7.9 pts | 22.3% | 20.5% |
Since launch (9 Jan 2026): 10.0%
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
2.55%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 2.10%
- Brokerage
- 0.05%
- Transaction charges
- 0.00%
- Statutory levies
- 0.40%
- Exit load
- Exit load of 0.5%, 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.
Portfolio
Mahindra Manulife Innovation Opportunities Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity94.7%
- Other5.3%
Market cap split
- Large43.1%
- Mid36.9%
- Small20.0%
- P/E
- 36.28
- P/B
- 4.94
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Others | Others | 5.32% | ₹14.00 Cr | +1.23% | +3.87% | — |
| Eternal Ltd. | Services | 3.79% | ₹9.97 Cr | +3.93% | +4.31% | — |
| Bajaj Finance Ltd. | Financial | 2.94% | ₹7.72 Cr | +3.02% | +3.97% | — |
| ICICI Bank Ltd. | Financial | 2.81% | ₹7.38 Cr | +3.29% | +3.36% | — |
| Aditya Birla Capital Ltd. | Financial | 2.74% | ₹7.20 Cr | +1.57% | +1.78% | — |
| Torrent Pharmaceuticals Ltd. | Healthcare | 2.65% | ₹6.97 Cr | +1.86% | — | — |
| company:17109 | Services | 2.64% | ₹6.94 Cr | — | — | — |
| Acutaas Chemicals Ltd. | Healthcare | 2.44% | ₹6.41 Cr | +3.23% | +3.10% | — |
| Karur Vysya Bank Ltd. | Financial | 2.43% | ₹6.38 Cr | +1.85% | — | — |
| Aster DM Quality Care Ltd. | Healthcare | 2.42% | ₹6.37 Cr | +2.52% | +2.71% | — |
| Delhivery Ltd. | Services | 2.32% | ₹6.10 Cr | +2.16% | +2.48% | — |
| Belrise Industries Ltd. | Automobile | 2.30% | ₹6.05 Cr | +1.95% | +2.02% | — |
| Axis Bank Ltd. | Financial | 2.28% | ₹5.99 Cr | +2.58% | +3.00% | — |
| Divi's Laboratories Ltd. | Healthcare | 2.25% | ₹5.92 Cr | +2.15% | +2.47% | — |
| Interglobe Aviation Ltd. | Services | 2.17% | ₹5.71 Cr | +2.47% | +3.24% | — |
| Kei Industries Ltd. | Capital Goods | 2.15% | ₹5.65 Cr | +2.13% | +2.45% | — |
| Reliance Industries Ltd. | Energy | 2.15% | ₹5.64 Cr | +3.01% | +2.45% | — |
| Dr. Lal Pathlabs Ltd. | Healthcare | 2.12% | ₹5.59 Cr | +2.39% | +2.29% | — |
| Coforge Ltd. | Technology | 2.08% | ₹5.46 Cr | +2.02% | +1.28% | — |
| Radico Khaitan Ltd. | Consumer Staples | 2.06% | ₹5.43 Cr | +2.19% | +1.98% | — |
| Larsen & Toubro Ltd. | Construction | 2.05% | ₹5.40 Cr | +2.81% | +3.52% | — |
| PB Fintech Ltd. | Services | 2.00% | ₹5.25 Cr | +2.46% | +2.35% | — |
| Bharti Airtel Ltd. | Communication | 1.96% | ₹5.16 Cr | +2.69% | +2.66% | — |
| Navin Fluorine International Ltd. | Chemicals | 1.91% | ₹5.03 Cr | +2.13% | — | — |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 1.90% | ₹5.00 Cr | +2.58% | +1.93% | — |
| AIA Engineering Ltd. | Metals & Mining | 1.83% | ₹4.80 Cr | +2.28% | +1.74% | — |
| Adani Enterprises Ltd. | Services | 1.78% | ₹4.69 Cr | — | — | — |
| K.P.R. Mill Ltd. | Textiles | 1.78% | ₹4.67 Cr | +1.98% | +1.26% | — |
| Mahindra & Mahindra Ltd. | Automobile | 1.76% | ₹4.62 Cr | +2.21% | +2.95% | — |
| Hindustan Aeronautics Ltd. | Capital Goods | 1.75% | ₹4.61 Cr | +2.13% | +2.07% | — |
| Adani Energy Solutions Ltd. | Energy | 1.74% | ₹4.56 Cr | — | — | — |
| GE Vernova T&D India Ltd | Capital Goods | 1.69% | ₹4.44 Cr | +2.65% | +2.37% | — |
| Tech Mahindra Ltd. | Technology | 1.61% | ₹4.24 Cr | +1.99% | +2.18% | — |
| BlackBuck Ltd. | Services | 1.59% | ₹4.18 Cr | +1.85% | — | — |
| Vodafone Idea Ltd. | Communication | 1.53% | ₹4.02 Cr | +2.02% | +1.83% | — |
| 360 One Wam Ltd. | Financial | 1.48% | ₹3.89 Cr | +1.40% | — | — |
| Max Financial Services Ltd. | Financial | 1.46% | ₹3.84 Cr | +1.89% | +2.08% | — |
| Varun Beverages Ltd. | Consumer Staples | 1.38% | ₹3.62 Cr | +1.73% | +1.77% | — |
| Tube Investments Of India Ltd. | Automobile | 1.37% | ₹3.61 Cr | +2.10% | +2.21% | — |
| SRF Ltd. | Chemicals | 1.36% | ₹3.58 Cr | +1.96% | +1.74% | — |
| Biocon Ltd. | Healthcare | 1.32% | ₹3.46 Cr | +1.86% | +2.02% | — |
| Swiggy Ltd. | Services | 1.31% | ₹3.45 Cr | +1.63% | +2.28% | — |
| company:896 | Financial | 1.31% | ₹3.44 Cr | — | — | — |
| Infosys Ltd. | Technology | 1.25% | ₹3.29 Cr | +1.74% | +2.33% | — |
| Schaeffler India Ltd. | Capital Goods | 1.25% | ₹3.29 Cr | +1.74% | +2.20% | — |
| IDFC First Bank Ltd. | Financial | 1.24% | ₹3.27 Cr | +1.40% | +1.04% | — |
| Anthem Biosciences Ltd. | Healthcare | 1.24% | ₹3.26 Cr | +1.43% | +1.36% | — |
| JSW Energy Ltd. | Capital Goods | 1.11% | ₹2.91 Cr | +1.72% | +1.68% | — |
| Bharat Electronics Ltd. | Capital Goods | 1.06% | ₹2.78 Cr | +1.42% | +1.84% | — |
| company:19964 | Services | 1.02% | ₹2.69 Cr | — | — | — |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Discretionary | 1.01% | ₹2.67 Cr | +1.32% | — | — |
| JK Cement Ltd. | Materials | 0.90% | ₹2.36 Cr | +1.23% | +1.60% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| company:17109 | 0.00% | 2.64% | +2.64% |
| company:896 | 0.00% | 1.31% | +1.31% |
| company:19964 | 0.00% | 1.02% | +1.02% |
| Aditya Birla Capital Ltd. | 1.79% | 2.74% | +0.95% |
| Karur Vysya Bank Ltd. | 1.80% | 2.43% | +0.63% |
| Adani Energy Solutions Ltd. | 1.11% | 1.74% | +0.63% |
| Belrise Industries Ltd. | 1.75% | 2.30% | +0.55% |
| Delhivery Ltd. | 1.89% | 2.32% | +0.43% |
| Bharti Airtel Ltd. | 2.38% | 1.96% | -0.42% |
| Acutaas Chemicals Ltd. | 2.03% | 2.44% | +0.41% |
| AIA Engineering Ltd. | 2.19% | 1.83% | -0.36% |
| Varun Beverages Ltd. | 1.69% | 1.38% | -0.31% |
| Adani Enterprises Ltd. | 2.09% | 1.78% | -0.31% |
| Reliance Industries Ltd. | 2.44% | 2.15% | -0.29% |
| ICICI Bank Ltd. | 3.08% | 2.81% | -0.27% |
| Mahindra & Mahindra Ltd. | 2.02% | 1.76% | -0.26% |
| Others | 0.34% | 0.08% | -0.26% |
| Crompton Greaves Consumer Electricals Ltd. | 1.24% | 1.01% | -0.23% |
| Interglobe Aviation Ltd. | 2.38% | 2.17% | -0.21% |
| Tech Mahindra Ltd. | 1.82% | 1.61% | -0.21% |
| Dr. Lal Pathlabs Ltd. | 2.33% | 2.12% | -0.21% |
| JSW Energy Ltd. | 1.31% | 1.11% | -0.20% |
| Biocon Ltd. | 1.51% | 1.32% | -0.19% |
| Torrent Pharmaceuticals Ltd. | 2.46% | 2.65% | +0.19% |
| SRF Ltd. | 1.55% | 1.36% | -0.19% |
| Bajaj Finance Ltd. | 3.12% | 2.94% | -0.18% |
| Swiggy Ltd. | 1.48% | 1.31% | -0.17% |
| Larsen & Toubro Ltd. | 2.22% | 2.05% | -0.17% |
| JK Cement Ltd. | 1.06% | 0.90% | -0.16% |
| Schaeffler India Ltd. | 1.41% | 1.25% | -0.16% |
| Radico Khaitan Ltd. | 2.22% | 2.06% | -0.16% |
| GE Vernova T&D India Ltd | 1.83% | 1.69% | -0.14% |
| Infosys Ltd. | 1.39% | 1.25% | -0.14% |
| Hindustan Aeronautics Ltd. | 1.89% | 1.75% | -0.14% |
| Tube Investments Of India Ltd. | 1.51% | 1.37% | -0.14% |
| Axis Bank Ltd. | 2.40% | 2.28% | -0.12% |
| Divi's Laboratories Ltd. | 2.13% | 2.25% | +0.12% |
| IDFC First Bank Ltd. | 1.36% | 1.24% | -0.12% |
| 360 One Wam Ltd. | 1.59% | 1.48% | -0.11% |
| Eternal Ltd. | 3.89% | 3.79% | -0.10% |
| PB Fintech Ltd. | 1.90% | 2.00% | +0.10% |
| Max Financial Services Ltd. | 1.55% | 1.46% | -0.09% |
| CG Power and Industrial Solutions Ltd. | 1.99% | 1.90% | -0.09% |
| Aster DM Quality Care Ltd. | 2.34% | 2.42% | +0.08% |
| Coforge Ltd. | 2.00% | 2.08% | +0.08% |
| Kei Industries Ltd. | 2.08% | 2.15% | +0.07% |
| Navin Fluorine International Ltd. | 1.86% | 1.91% | +0.05% |
| Bharat Electronics Ltd. | 1.10% | 1.06% | -0.04% |
| BlackBuck Ltd. | 1.62% | 1.59% | -0.03% |
| K.P.R. Mill Ltd. | 1.76% | 1.78% | +0.02% |
| Vodafone Idea Ltd. | 1.54% | 1.53% | -0.01% |
| Anthem Biosciences Ltd. | 1.25% | 1.24% | -0.01% |
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 | ₹3,622 Cr | 2.16% | 16.8% | 12.5% | 16.5% |
 ICICI Prudential Innovation Fund | ₹8,012 Cr | 2.18% | 4.7% | 9.2% | — |
 Kotak Pioneer Fund | ₹4,281 Cr | 1.91% | 19.9% | 15.1% | 17.6% |
 Nippon India Innovation Fund | ₹3,108 Cr | 2.07% | 7.5% | 7.5% | — |
 Axis Innovation Fund | ₹1,363 Cr | 2.28% | 27.8% | 15.6% | 15.4% |
 Union Innovation & Opportunities Fund | ₹1,344 Cr | 2.36% | 24.0% | 14.9% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The Scheme shall seek to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies following innovation theme.
Fund managers
- Kirti DalviMMS (Finance), CFA level 2Prior to Joining the Mahindra Manulife AMC he has worked with ENAM AMC, Angel Broking Ltd.
- Renjith Sivaram RadhakrishnanMr. Sivaram is an MBA in Finance and holds a Bachelorâs degree in Mechanical engineeringPrior to joining Mahindra Manulife Mutual Fund, he was associated with ICCI Securities, Antique Stock Broking, B&K Securities and Indian Seamless Steels and Alloys 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 months14.38% absolute | ₹60,000 | ₹68,628 | 14.38% |
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 Innovation Opportunities Fund?
The NAV of Mahindra Manulife Innovation Opportunities Fund is ₹10.76 as on 25 Sep 2026.
What is the expense ratio of Mahindra Manulife Innovation Opportunities Fund?
The expense ratio of Mahindra Manulife Innovation Opportunities Fund is 2.52% per year.
What is the minimum SIP amount for Mahindra Manulife Innovation Opportunities Fund?
You can start a SIP in Mahindra Manulife Innovation Opportunities Fund with ₹3,000 a month.
Is there a lock-in or exit load on Mahindra Manulife Innovation Opportunities Fund?
Lock-in: None. Exit load: Exit load of 0.5%, if redeemed within 3 months..
How risky is Mahindra Manulife Innovation Opportunities Fund?
Mahindra Manulife Innovation Opportunities Fund is rated Very High on the SEBI riskometer and belongs to the Thematic-Innovation category.
Which fund house manages Mahindra Manulife Innovation Opportunities Fund?
Mahindra Manulife Innovation Opportunities Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹34,805 Cr under management.