Mahindra Manulife Innovation Opportunities Fund
Thematic-InnovationVery HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹10.96+0.29%1 day
- Return since launch
- 9.1%
- 52-week range
- ₹9.18 — ₹11.25
- AUM
- ₹257 Cr
Mahindra Manulife Innovation Opportunities Fund is a Thematic-Innovation equity fund from Mahindra Manulife Mutual Fund with ₹257 Cr under management, launched in 2026. The expense ratio is 2.57% 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 +9.4% against +14.5% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 5.8% | +2.6 pts | 3.2% | 3.6% |
| 3M | -2.4% | −1.9 pts | -0.5% | -1.2% |
| 6M | 5.5% | −3.9 pts | 9.5% | 8.1% |
Since launch (9 Jan 2026): 9.1%
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
2.60%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 2.10%
- Brokerage
- 0.06%
- Transaction charges
- 0.00%
- Statutory levies
- 0.44%
- 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 30 Sep 2026
Asset allocation
- Equity97.5%
- Other2.5%
Market cap split
- Large40.1%
- Mid34.9%
- Small24.9%
- P/E
- 34.96
- P/B
- 4.62
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Eternal Ltd. | Services | 3.79% | ₹9.73 Cr | +3.91% | +4.42% | — |
| Bajaj Finance Ltd. | Financial | 2.73% | ₹7.01 Cr | +3.16% | +3.29% | — |
| One 97 Communications Ltd. | Services | 2.64% | ₹6.78 Cr | — | — | — |
| ICICI Bank Ltd. | Financial | 2.61% | ₹6.71 Cr | +3.40% | +3.88% | — |
| Aditya Birla Capital Ltd. | Financial | 2.60% | ₹6.69 Cr | +1.60% | +1.55% | — |
| Acutaas Chemicals Ltd. | Healthcare | 2.59% | ₹6.65 Cr | +2.65% | +3.79% | — |
| Torrent Pharmaceuticals Ltd. | Healthcare | 2.57% | ₹6.60 Cr | +2.05% | — | — |
| Reliance Industries Ltd. | Energy | 2.53% | ₹6.49 Cr | +2.78% | +3.77% | — |
| Others | Others | 2.47% | ₹6.34 Cr | +1.17% | +24.42% | — |
| Belrise Industries Ltd. | Automobile | 2.44% | ₹6.26 Cr | +2.03% | +2.06% | — |
| Karur Vysya Bank Ltd. | Financial | 2.32% | ₹5.96 Cr | +1.79% | — | — |
| Aster DM Quality Care Ltd. | Healthcare | 2.29% | ₹5.87 Cr | +2.57% | +2.86% | — |
| Divi's Laboratories Ltd. | Healthcare | 2.26% | ₹5.81 Cr | +2.00% | +2.36% | — |
| Dr. Lal Pathlabs Ltd. | Healthcare | 2.23% | ₹5.74 Cr | +2.31% | +2.40% | — |
| Axis Bank Ltd. | Financial | 2.20% | ₹5.65 Cr | +3.02% | +2.87% | — |
| Delhivery Ltd. | Services | 2.13% | ₹5.48 Cr | +2.13% | +2.46% | — |
| Interglobe Aviation Ltd. | Services | 2.11% | ₹5.43 Cr | +2.85% | +2.73% | — |
| Radico Khaitan Ltd. | Consumer Staples | 2.06% | ₹5.28 Cr | +2.32% | +2.02% | — |
| Smartworks Coworking Spaces Ltd. | Services | 2.03% | ₹5.21 Cr | — | — | — |
| Coforge Ltd. | Technology | 1.97% | ₹5.07 Cr | +1.96% | +1.24% | — |
| Larsen & Toubro Ltd. | Construction | 1.95% | ₹5.02 Cr | +2.69% | +2.97% | — |
| Bharti Airtel Ltd. | Communication | 1.95% | ₹5.01 Cr | +2.57% | +2.60% | — |
| Adani Energy Solutions Ltd. | Energy | 1.94% | ₹5.00 Cr | — | — | — |
| Senores Pharmaceuticals Ltd. | Healthcare | 1.94% | ₹4.99 Cr | — | — | — |
| Navin Fluorine International Ltd. | Chemicals | 1.86% | ₹4.78 Cr | +2.17% | — | — |
| Adani Enterprises Ltd. | Services | 1.85% | ₹4.76 Cr | — | — | — |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 1.82% | ₹4.67 Cr | +2.53% | +2.27% | — |
| 360 One Wam Ltd. | Financial | 1.76% | ₹4.51 Cr | +1.48% | — | — |
| Hindustan Aeronautics Ltd. | Capital Goods | 1.74% | ₹4.48 Cr | +2.05% | +2.12% | — |
| Kei Industries Ltd. | Capital Goods | 1.71% | ₹4.38 Cr | +2.07% | +2.01% | — |
| K.P.R. Mill Ltd. | Textiles | 1.70% | ₹4.38 Cr | +2.27% | +1.44% | — |
| AIA Engineering Ltd. | Metals & Mining | 1.70% | ₹4.36 Cr | +2.43% | +2.27% | — |
| BlackBuck Ltd. | Services | 1.67% | ₹4.28 Cr | +1.82% | — | — |
| GE Vernova T&D India Ltd | Capital Goods | 1.63% | ₹4.20 Cr | +2.40% | +2.31% | — |
| Mahindra & Mahindra Ltd. | Automobile | 1.62% | ₹4.15 Cr | +2.10% | +2.64% | — |
| Tech Mahindra Ltd. | Technology | 1.54% | ₹3.97 Cr | +1.78% | +2.29% | — |
| Zydus Lifesciences Ltd. | Healthcare | 1.54% | ₹3.95 Cr | — | — | — |
| Varun Beverages Ltd. | Consumer Staples | 1.52% | ₹3.91 Cr | +1.57% | +1.55% | — |
| Vodafone Idea Ltd. | Communication | 1.41% | ₹3.63 Cr | +1.97% | +1.52% | — |
| Piramal Finance Ltd. | Financial | 1.38% | ₹3.55 Cr | — | — | — |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Discretionary | 1.37% | ₹3.53 Cr | +1.51% | — | — |
| SRF Ltd. | Chemicals | 1.35% | ₹3.46 Cr | +1.87% | +1.95% | — |
| Max Financial Services Ltd. | Financial | 1.30% | ₹3.35 Cr | +1.88% | +1.76% | — |
| Schaeffler India Ltd. | Capital Goods | 1.24% | ₹3.20 Cr | +1.67% | +2.00% | — |
| Biocon Ltd. | Healthcare | 1.21% | ₹3.11 Cr | +1.71% | +1.92% | — |
| IDFC First Bank Ltd. | Financial | 1.20% | ₹3.09 Cr | +1.47% | +1.42% | — |
| Tube Investments Of India Ltd. | Automobile | 1.20% | ₹3.09 Cr | +1.92% | +2.08% | — |
| Swiggy Ltd. | Services | 1.19% | ₹3.06 Cr | +1.43% | +2.02% | — |
| PB Fintech Ltd. | Services | 1.16% | ₹2.98 Cr | +2.22% | +2.33% | — |
| JSW Energy Ltd. | Capital Goods | 1.08% | ₹2.77 Cr | +1.59% | +1.68% | — |
| HBL Engineering Ltd. | Capital Goods | 1.07% | ₹2.76 Cr | — | — | — |
| Bharat Electronics Ltd. | Capital Goods | 1.01% | ₹2.60 Cr | +1.34% | +1.70% | — |
| Clean Max Enviro Energy Solutions Ltd. | Energy | 0.98% | ₹2.51 Cr | — | — | — |
| Anthem Biosciences Ltd. | Healthcare | 0.94% | ₹2.40 Cr | +1.37% | +1.52% | — |
| JK Cement Ltd. | Materials | 0.91% | ₹2.34 Cr | +1.22% | +1.48% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Senores Pharmaceuticals Ltd. | 0.00% | 1.94% | +1.94% |
| Zydus Lifesciences Ltd. | 0.00% | 1.54% | +1.54% |
| Infosys Ltd. | 1.25% | 0.00% | -1.25% |
| HBL Engineering Ltd. | 0.00% | 1.07% | +1.07% |
| Smartworks Coworking Spaces Ltd. | 1.02% | 2.03% | +1.00% |
| Clean Max Enviro Energy Solutions Ltd. | 0.00% | 0.98% | +0.98% |
| PB Fintech Ltd. | 2.00% | 1.16% | -0.84% |
| Kei Industries Ltd. | 2.15% | 1.71% | -0.44% |
| Reliance Industries Ltd. | 2.15% | 2.53% | +0.38% |
| Crompton Greaves Consumer Electricals Ltd. | 1.01% | 1.37% | +0.36% |
| Anthem Biosciences Ltd. | 1.24% | 0.94% | -0.30% |
| 360 One Wam Ltd. | 1.48% | 1.76% | +0.28% |
| Bajaj Finance Ltd. | 2.94% | 2.73% | -0.21% |
| Adani Energy Solutions Ltd. | 1.74% | 1.94% | +0.21% |
| ICICI Bank Ltd. | 2.81% | 2.61% | -0.20% |
| Delhivery Ltd. | 2.32% | 2.13% | -0.19% |
| Tube Investments Of India Ltd. | 1.37% | 1.20% | -0.17% |
| Max Financial Services Ltd. | 1.46% | 1.30% | -0.16% |
| Acutaas Chemicals Ltd. | 2.44% | 2.59% | +0.15% |
| Varun Beverages Ltd. | 1.38% | 1.52% | +0.14% |
| Mahindra & Mahindra Ltd. | 1.76% | 1.62% | -0.14% |
| Aster DM Quality Care Ltd. | 2.42% | 2.29% | -0.14% |
| Belrise Industries Ltd. | 2.30% | 2.44% | +0.14% |
| Aditya Birla Capital Ltd. | 2.74% | 2.60% | -0.13% |
| AIA Engineering Ltd. | 1.83% | 1.70% | -0.13% |
| Swiggy Ltd. | 1.31% | 1.19% | -0.12% |
| Vodafone Idea Ltd. | 1.53% | 1.41% | -0.11% |
| Dr. Lal Pathlabs Ltd. | 2.12% | 2.23% | +0.11% |
| Karur Vysya Bank Ltd. | 2.43% | 2.32% | -0.11% |
| Biocon Ltd. | 1.32% | 1.21% | -0.11% |
| Coforge Ltd. | 2.08% | 1.97% | -0.10% |
| Larsen & Toubro Ltd. | 2.05% | 1.95% | -0.10% |
| CG Power and Industrial Solutions Ltd. | 1.90% | 1.82% | -0.09% |
| Torrent Pharmaceuticals Ltd. | 2.65% | 2.57% | -0.08% |
| Axis Bank Ltd. | 2.28% | 2.20% | -0.08% |
| BlackBuck Ltd. | 1.59% | 1.67% | +0.08% |
| K.P.R. Mill Ltd. | 1.78% | 1.70% | -0.07% |
| Piramal Finance Ltd. | 1.31% | 1.38% | +0.07% |
| Adani Enterprises Ltd. | 1.78% | 1.85% | +0.07% |
| Tech Mahindra Ltd. | 1.61% | 1.54% | -0.07% |
| GE Vernova T&D India Ltd | 1.69% | 1.63% | -0.06% |
| Interglobe Aviation Ltd. | 2.17% | 2.11% | -0.06% |
| Navin Fluorine International Ltd. | 1.91% | 1.86% | -0.05% |
| Bharat Electronics Ltd. | 1.06% | 1.01% | -0.04% |
| IDFC First Bank Ltd. | 1.24% | 1.20% | -0.04% |
| JSW Energy Ltd. | 1.11% | 1.08% | -0.03% |
| SRF Ltd. | 1.36% | 1.35% | -0.02% |
| Bharti Airtel Ltd. | 1.96% | 1.95% | -0.02% |
| JK Cement Ltd. | 0.90% | 0.91% | +0.01% |
| Divi's Laboratories Ltd. | 2.25% | 2.26% | +0.01% |
| Hindustan Aeronautics Ltd. | 1.75% | 1.74% | -0.01% |
| Schaeffler India Ltd. | 1.25% | 1.24% | -0.01% |
| Radico Khaitan Ltd. | 2.06% | 2.06% | -0.01% |
| Eternal Ltd. | 3.79% | 3.79% | -0.01% |
| Others | 0.08% | 0.09% | 0.00% |
| One 97 Communications Ltd. | 2.64% | 2.64% | 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 | ₹3,484 Cr | 2.15% | 13.5% | 10.5% | 14.9% |
 ICICI Prudential Innovation Fund | ₹7,549 Cr | 2.16% | 5.1% | 7.8% | — |
 Kotak Pioneer Fund | ₹4,295 Cr | 1.90% | 11.4% | 11.5% | 15.6% |
 Nippon India Innovation Fund | ₹2,923 Cr | 2.10% | 5.8% | 5.8% | — |
 Axis Innovation Fund | ₹1,345 Cr | 2.27% | 21.5% | 13.2% | 14.3% |
 Union Innovation & Opportunities Fund | ₹1,307 Cr | 2.31% | 23.9% | 14.2% | — |
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 months5.54% absolute | ₹60,000 | ₹63,324 | 5.54% |
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 ₹10.96 as on 9 Nov 2026.
What is the expense ratio of Mahindra Manulife Innovation Opportunities Fund?
The expense ratio of Mahindra Manulife Innovation Opportunities Fund is 2.57% 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 ₹38,154 Cr under management.