Mahindra Manulife Mid Cap Fund
Mid CapVery HighOPEN-ENDED
- NAV as on 11 Nov 2026
- ₹34.93+0.49%1 day
- Return since launch
- 15.2%
- 52-week range
- ₹30.69 — ₹37.41
- AUM
- ₹4,892 Cr
Mahindra Manulife Mid Cap Fund is a Mid Cap equity fund from Mahindra Manulife Mutual Fund with ₹4,892 Cr under management, launched in 2018. Over three years it has returned 6.6% a year, against 15.0% for its category. The expense ratio is 2.03% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Mid Cap Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +2.5% against +2.3% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 2.9% | −0.9 pts | 3.8% | 6.2% |
| 2Y | 5.5% | −2.4 pts | 7.8% | 6.7% |
| 3Y | 6.6% | −8.4 pts | 15.0% | 7.4% |
| 5Y | 14.6% | +1.6 pts | 13.0% | 13.3% |
| 7Y | 18.4% | +0.7 pts | 17.7% | 16.6% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 3.7% | −0.1 pts | 3.8% | 3.6% |
| 3M | -6.3% | −3.6 pts | -2.7% | -3.3% |
| 6M | 1.7% | −4.2 pts | 5.9% | 4.5% |
| 1Y | 2.5% | −1.3 pts | 3.8% | 2.3% |
| 2Y | 3.3% | −1.5 pts | 4.8% | 4.3% |
| 3Y | 14.5% | −0.5 pts | 15.0% | 13.7% |
| 5Y | 14.2% | +1.2 pts | 13.0% | 12.1% |
| 7Y | 20.3% | +0.7 pts | 19.6% | 18.0% |
Since launch (8 Jan 2018): 15.2%
Calendar-year returns
Category average18.7%
49.8%
0.2%
47.0%
29.0%
1.2%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 1.2% | −1.8 pts | 3.1% |
| 2024 | 29.0% | −1.3 pts | 30.3% |
| 2023 | 47.0% | +8.3 pts | 38.7% |
| 2022 | 0.2% | −3.5 pts | 3.8% |
| 2021 | 49.8% | +3.9 pts | 45.8% |
| 2020 | 18.7% | −6.8 pts | 25.5% |
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
2.05%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.60%
- Brokerage
- 0.07%
- Transaction charges
- 0.00%
- Statutory levies
- 0.38%
- 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 Midcap 150 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 | 0.38 | 5.01 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.97 | 1.00 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.49 | 0.72 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.67 | 0.96 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 18.17 | 19.25 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Mahindra Manulife Mid Cap Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity97.3%
- Other2.7%
Market cap split
- Large6.3%
- Mid76.2%
- Small17.5%
- P/E
- 33.03
- P/B
- 3.53
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| The Federal Bank Ltd. | Financial | 3.42% | ₹173 Cr | +3.32% | +3.03% | +1.81% |
| Indusind Bank Ltd. | Financial | 3.19% | ₹161 Cr | +2.89% | +2.91% | — |
| Aditya Birla Capital Ltd. | Financial | 2.79% | ₹141 Cr | +1.70% | +1.43% | +1.35% |
| Others | Others | 2.73% | ₹138 Cr | +0.09% | +6.69% | +0.66% |
| Coforge Ltd. | Technology | 2.65% | ₹134 Cr | +2.21% | +1.12% | +1.64% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 2.60% | ₹132 Cr | +2.21% | +3.42% | +3.11% |
| IDFC First Bank Ltd. | Financial | 2.16% | ₹109 Cr | +2.10% | +1.93% | +2.22% |
| Kei Industries Ltd. | Capital Goods | 2.13% | ₹108 Cr | +2.58% | +2.38% | +1.49% |
| Bank of Maharashtra | Financial | 2.07% | ₹105 Cr | +2.37% | +1.97% | — |
| Nippon Life India Asset Management Ltd. | Financial | 2.04% | ₹103 Cr | +2.67% | +2.28% | +2.26% |
| APL Apollo Tubes Ltd. | Metals & Mining | 2.03% | ₹103 Cr | +1.90% | +2.02% | +2.13% |
| Anthem Biosciences Ltd. | Healthcare | 2.02% | ₹102 Cr | +1.93% | +2.04% | +1.92% |
| Radico Khaitan Ltd. | Consumer Staples | 2.00% | ₹101 Cr | +1.81% | +1.03% | — |
| AIA Engineering Ltd. | Metals & Mining | 1.98% | ₹100 Cr | +2.59% | +2.41% | +1.86% |
| UNO Minda Ltd. | Automobile | 1.95% | ₹98.65 Cr | +1.85% | +2.00% | +2.58% |
| Marico Ltd. | Consumer Staples | 1.94% | ₹98.33 Cr | +2.06% | +1.82% | +1.77% |
| JSW Energy Ltd. | Capital Goods | 1.93% | ₹97.75 Cr | +2.41% | +2.42% | +2.04% |
| Belrise Industries Ltd. | Automobile | 1.93% | ₹97.68 Cr | +1.17% | +1.13% | +1.18% |
| Max Financial Services Ltd. | Financial | 1.92% | ₹96.97 Cr | +2.20% | +2.45% | — |
| Fortis Healthcare Ltd. | Healthcare | 1.90% | ₹96.10 Cr | +1.71% | +1.30% | +1.51% |
| JSW Infrastructure Ltd. | Services | 1.88% | ₹95.01 Cr | +1.69% | +1.39% | +0.99% |
| Cochin Shipyard Ltd. | Capital Goods | 1.86% | ₹94.31 Cr | +1.59% | — | — |
| JK Cement Ltd. | Materials | 1.84% | ₹93.03 Cr | +1.97% | +2.27% | +2.24% |
| GE Vernova T&D India Ltd | Capital Goods | 1.77% | ₹89.77 Cr | +1.88% | +1.62% | — |
| Blue Star Ltd. | Consumer Discretionary | 1.76% | ₹88.86 Cr | +1.88% | +2.30% | +2.53% |
| L&T Finance Ltd. | Financial | 1.73% | ₹87.33 Cr | +2.61% | +1.73% | +1.43% |
| Tube Investments Of India Ltd. | Automobile | 1.68% | ₹84.99 Cr | +2.14% | +2.20% | +2.39% |
| Biocon Ltd. | Healthcare | 1.64% | ₹83.17 Cr | +1.34% | +1.43% | +1.12% |
| Astral Ltd. | Materials | 1.64% | ₹83.09 Cr | +1.60% | +2.37% | +2.07% |
| Karur Vysya Bank Ltd. | Financial | 1.63% | ₹82.65 Cr | +1.48% | — | — |
| PB Fintech Ltd. | Services | 1.53% | ₹77.27 Cr | +2.33% | +2.07% | — |
| 360 One Wam Ltd. | Financial | 1.52% | ₹76.73 Cr | +1.40% | — | — |
| Mphasis Ltd. | Technology | 1.50% | ₹75.73 Cr | +1.60% | +1.46% | +1.40% |
| Larsen & Toubro Ltd. | Construction | 1.47% | ₹74.30 Cr | +1.73% | +1.81% | — |
| Minda Corporation Ltd. | Automobile | 1.45% | ₹73.56 Cr | +1.46% | +0.84% | +1.14% |
| SRF Ltd. | Chemicals | 1.39% | ₹70.16 Cr | +2.12% | +1.53% | — |
| Ceat Ltd. | Automobile | 1.38% | ₹70.02 Cr | +1.47% | +1.19% | +1.54% |
| Varun Beverages Ltd. | Consumer Staples | 1.37% | ₹69.32 Cr | +1.28% | +1.20% | +0.89% |
| Triveni Turbine Ltd. | Construction | 1.35% | ₹68.50 Cr | +1.73% | +1.36% | +1.52% |
| Elecon Engineering Company Ltd. | Capital Goods | 1.27% | ₹64.23 Cr | +0.51% | — | — |
| NMDC Ltd. | Metals & Mining | 1.23% | ₹62.16 Cr | +1.36% | +1.51% | +1.55% |
| Godrej Properties Ltd. | Construction | 1.21% | ₹61.39 Cr | +0.91% | +0.89% | +1.61% |
| Aster DM Quality Care Ltd. | Healthcare | 1.20% | ₹60.47 Cr | +1.34% | +1.42% | — |
| KEC International Ltd. | Capital Goods | 1.17% | ₹59.42 Cr | — | — | — |
| Bharti Hexacom Ltd. | Communication | 1.17% | ₹59.12 Cr | +1.21% | +1.53% | +1.83% |
| Piramal Finance Ltd. | Financial | 1.16% | ₹58.90 Cr | — | +1.93% | +1.83% |
| Shriram Finance Ltd | Financial | 1.15% | ₹57.95 Cr | +1.31% | +1.36% | +0.99% |
| Equitas Small Finance Bank Ltd. | Financial | 1.10% | ₹55.80 Cr | +1.61% | +1.49% | — |
| SBI Cards And Payment Services Ltd. | Financial | 1.09% | ₹55.32 Cr | — | — | — |
| Schaeffler India Ltd. | Capital Goods | 1.03% | ₹52.32 Cr | +1.11% | +1.20% | +1.66% |
| HBL Engineering Ltd. | Capital Goods | 1.02% | ₹51.61 Cr | — | — | — |
| Divi's Laboratories Ltd. | Healthcare | 0.99% | ₹50.17 Cr | — | — | — |
| Kajaria Ceramics Ltd. | Materials | 0.94% | ₹47.43 Cr | +1.11% | +1.05% | +1.22% |
| Kirloskar Brothers Ltd. | Capital Goods | 0.94% | ₹47.34 Cr | +1.08% | +0.87% | +1.29% |
| ITC Hotels Ltd. | Services | 0.93% | ₹47.17 Cr | +1.02% | +0.97% | +1.64% |
| Container Corporation Of India Ltd. | Services | 0.93% | ₹46.83 Cr | +0.98% | — | — |
| Carborundum Universal Ltd. | Metals & Mining | 0.92% | ₹46.61 Cr | — | — | — |
| LG Electronics India Ltd. | Consumer Discretionary | 0.88% | ₹44.38 Cr | +0.79% | +0.91% | — |
| Clean Max Enviro Energy Solutions Ltd. | Energy | 0.88% | ₹44.27 Cr | — | — | — |
| Garden Reach Shipbuilders & Engineers Ltd. | Capital Goods | 0.79% | ₹39.90 Cr | +0.98% | — | — |
| Dalmia Bharat Ltd. | Materials | 0.78% | ₹39.52 Cr | +0.79% | +1.02% | — |
| Solar Industries India Ltd. | Chemicals | 0.68% | ₹34.27 Cr | +1.46% | +1.17% | +1.32% |
| Vedanta Aluminium Metal Ltd. | Metals & Mining | 0.47% | ₹23.54 Cr | — | — | — |
| Dr. Lal Pathlabs Ltd. | Healthcare | 0.28% | ₹14.39 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| L&T Finance Ltd. | 2.79% | 1.73% | -1.06% |
| HBL Engineering Ltd. | 0.00% | 1.02% | +1.02% |
| Divi's Laboratories Ltd. | 0.00% | 0.99% | +0.99% |
| PB Fintech Ltd. | 2.52% | 1.53% | -0.99% |
| Piramal Finance Ltd. | 0.27% | 1.16% | +0.90% |
| Clean Max Enviro Energy Solutions Ltd. | 0.00% | 0.88% | +0.88% |
| Solar Industries India Ltd. | 1.47% | 0.68% | -0.79% |
| Nippon Life India Asset Management Ltd. | 2.53% | 2.04% | -0.48% |
| Kei Industries Ltd. | 2.56% | 2.13% | -0.44% |
| Shriram Finance Ltd | 1.45% | 1.15% | -0.30% |
| Dr. Lal Pathlabs Ltd. | 0.00% | 0.28% | +0.28% |
| Equitas Small Finance Bank Ltd. | 1.37% | 1.10% | -0.27% |
| Carborundum Universal Ltd. | 0.66% | 0.92% | +0.26% |
| SRF Ltd. | 1.63% | 1.39% | -0.24% |
| KEC International Ltd. | 0.96% | 1.17% | +0.21% |
| Elecon Engineering Company Ltd. | 1.06% | 1.27% | +0.21% |
| JSW Infrastructure Ltd. | 1.68% | 1.88% | +0.20% |
| Mphasis Ltd. | 1.69% | 1.50% | -0.19% |
| Fortis Healthcare Ltd. | 2.09% | 1.90% | -0.19% |
| Godrej Properties Ltd. | 1.40% | 1.21% | -0.19% |
| Belrise Industries Ltd. | 1.75% | 1.93% | +0.18% |
| Varun Beverages Ltd. | 1.19% | 1.37% | +0.18% |
| Indusind Bank Ltd. | 3.37% | 3.19% | -0.18% |
| The Federal Bank Ltd. | 3.60% | 3.42% | -0.18% |
| Blue Star Ltd. | 1.59% | 1.76% | +0.17% |
| Coforge Ltd. | 2.81% | 2.65% | -0.16% |
| Tube Investments Of India Ltd. | 1.84% | 1.68% | -0.16% |
| Cochin Shipyard Ltd. | 2.00% | 1.86% | -0.14% |
| Max Financial Services Ltd. | 2.05% | 1.92% | -0.14% |
| APL Apollo Tubes Ltd. | 1.93% | 2.03% | +0.10% |
| SBI Cards And Payment Services Ltd. | 0.99% | 1.09% | +0.10% |
| JK Cement Ltd. | 1.74% | 1.84% | +0.10% |
| NMDC Ltd. | 1.32% | 1.23% | -0.10% |
| Anthem Biosciences Ltd. | 2.10% | 2.02% | -0.08% |
| UNO Minda Ltd. | 2.03% | 1.95% | -0.08% |
| ITC Hotels Ltd. | 0.85% | 0.93% | +0.08% |
| Garden Reach Shipbuilders & Engineers Ltd. | 0.87% | 0.79% | -0.08% |
| Radico Khaitan Ltd. | 1.93% | 2.00% | +0.08% |
| LG Electronics India Ltd. | 0.81% | 0.88% | +0.07% |
| Biocon Ltd. | 1.71% | 1.64% | -0.07% |
| Bank of Maharashtra | 2.00% | 2.07% | +0.07% |
| Container Corporation Of India Ltd. | 0.99% | 0.93% | -0.07% |
| Astral Ltd. | 1.71% | 1.64% | -0.06% |
| AIA Engineering Ltd. | 2.04% | 1.98% | -0.06% |
| Minda Corporation Ltd. | 1.40% | 1.45% | +0.05% |
| Kajaria Ceramics Ltd. | 0.88% | 0.94% | +0.05% |
| Marico Ltd. | 1.90% | 1.94% | +0.05% |
| Schaeffler India Ltd. | 1.00% | 1.03% | +0.04% |
| JSW Energy Ltd. | 1.90% | 1.93% | +0.03% |
| Ceat Ltd. | 1.36% | 1.38% | +0.03% |
| IDFC First Bank Ltd. | 2.13% | 2.16% | +0.03% |
| Dalmia Bharat Ltd. | 0.81% | 0.78% | -0.02% |
| 360 One Wam Ltd. | 1.54% | 1.52% | -0.02% |
| Aditya Birla Capital Ltd. | 2.81% | 2.79% | -0.02% |
| GE Vernova T&D India Ltd | 1.76% | 1.77% | +0.02% |
| Bharti Hexacom Ltd. | 1.19% | 1.17% | -0.02% |
| Aster DM Quality Care Ltd. | 1.21% | 1.20% | -0.02% |
| Glenmark Pharmaceuticals Ltd. | 2.59% | 2.60% | +0.02% |
| Larsen & Toubro Ltd. | 1.48% | 1.47% | -0.01% |
| Vedanta Aluminium Metal Ltd. | 0.46% | 0.47% | +0.01% |
| Triveni Turbine Ltd. | 1.36% | 1.35% | 0.00% |
| Karur Vysya Bank Ltd. | 1.64% | 1.63% | 0.00% |
| Others | 0.02% | 0.02% | 0.00% |
| Kirloskar Brothers Ltd. | 0.94% | 0.94% | 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 | ₹13,490 Cr | 1.99% | 12.0% | 12.9% | 18.2% |
 Edelweiss Mid Cap Fund | ₹18,725 Cr | 1.87% | 5.8% | 9.4% | 16.5% |
 HSBC Midcap Fund | ₹16,800 Cr | 2.15% | 17.4% | 14.8% | 19.6% |
 Invesco India Mid Cap Fund | ₹15,832 Cr | 1.85% | 16.9% | 15.4% | 20.1% |
 WhiteOak Capital Mid Cap Fund | ₹8,400 Cr | 2.25% | 13.8% | 13.5% | — |
 ICICI Prudential Mid Cap Fund | ₹7,695 Cr | 1.83% | 6.2% | 11.5% | 16.7% |
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 & provide long-term growth opportunities by investing in a portfolio constituted of equity & equity related securities and derivatives predominantly in mid cap companies.
Fund managers
- Kirti DalviMMS (Finance), CFA level 2Prior to Joining the Mahindra Manulife AMC he has worked with ENAM AMC, Angel Broking Ltd.
- Krishna SanghaviMr. Sanghvi is a B.Com (H), CWA from ICWAI, Master of Management Studies (Finance) from NMIMS, Mumbai and CFA from ICFAI.Prior to joining Mahindra Manulife Investment Management Pvt. Ltd., he has worked with Canara Robeco AMC, Kotak Mahindra AMC Ltd. and Kotak Life Insurance, Aviva Life Insurance Company 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 months1.71% absolute | ₹60,000 | ₹61,026 | 1.71% | |
| 1 year2.47% annualised | ₹1,20,000 | ₹1,21,618 | 1.35% | |
| 3 years14.47% annualised | ₹3,60,000 | ₹4,52,863 | 25.80% | |
| 5 years14.18% annualised | ₹6,00,000 | ₹8,76,411 | 46.07% |
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 Mid Cap Fund?
The NAV of Mahindra Manulife Mid Cap Fund is ₹34.93 as on 11 Nov 2026.
What is the expense ratio of Mahindra Manulife Mid Cap Fund?
The expense ratio of Mahindra Manulife Mid Cap Fund is 2.03% per year.
What is the minimum SIP amount for Mahindra Manulife Mid Cap Fund?
You can start a SIP in Mahindra Manulife Mid Cap Fund with ₹3,000 a month.
What returns has Mahindra Manulife Mid Cap Fund given?
Mahindra Manulife Mid Cap Fund has returned 2.9% over 1 year, 6.6% over 3 years and 14.6% over 5 years (annualised).
Is there a lock-in or exit load on Mahindra Manulife Mid Cap Fund?
Lock-in: None. Exit load: Exit load of 1% if redeemed within 3 months..
How risky is Mahindra Manulife Mid Cap Fund?
Mahindra Manulife Mid Cap Fund is rated Very High on the SEBI riskometer and belongs to the Mid Cap category.
Which fund house manages Mahindra Manulife Mid Cap Fund?
Mahindra Manulife Mid Cap Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹38,154 Cr under management.