Mahindra Manulife Mid Cap Fund
Mid CapVery HighOPEN-ENDED
- NAV as on 24 Sep 2026
- ₹35.23-2.60%1 day
- Return since launch
- 16.0%
- 52-week range
- ₹30.69 — ₹37.41
- AUM
- ₹5,406 Cr
Mahindra Manulife Mid Cap Fund is a Mid Cap equity fund from Mahindra Manulife Mutual Fund with ₹5,406 Cr under management, launched in 2018. Over three years it has returned 8.5% a year, against 15.7% for its category. The expense ratio is 2.02% 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 +7.4% against +5.2% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 4.9% | −1.5 pts | 6.4% | 6.0% |
| 2Y | 6.0% | −1.2 pts | 7.2% | 6.3% |
| 3Y | 8.5% | −7.2 pts | 15.7% | 8.5% |
| 5Y | 15.9% | +1.8 pts | 14.1% | 14.1% |
| 7Y | 19.6% | +1.1 pts | 18.5% | 17.4% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -5.4% | −1.7 pts | -3.7% | -4.0% |
| 3M | -2.9% | −3.5 pts | 0.6% | -0.0% |
| 6M | 9.6% | −3.7 pts | 13.3% | 11.8% |
| 1Y | 7.4% | +1.0 pts | 6.4% | 5.2% |
| 2Y | -0.1% | −1.0 pts | 0.9% | 0.4% |
| 3Y | 15.7% | 0.0 pts | 15.7% | 14.5% |
| 5Y | 15.8% | +1.6 pts | 14.1% | 13.3% |
| 7Y | 20.7% | +1.0 pts | 19.7% | 18.2% |
Since launch (8 Jan 2018): 16.0%
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
2.01%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.59%
- Brokerage
- 0.06%
- Transaction charges
- 0.00%
- Statutory levies
- 0.36%
- 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 | 1.74 | 5.13 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.95 | 0.99 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.75 | 0.91 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.01 | 1.17 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 17.19 | 18.53 | 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 31 Aug 2026
Asset allocation
- Equity97.7%
- Other2.3%
Market cap split
- Large6.2%
- Mid79.2%
- Small14.6%
- P/E
- 35.51
- P/B
- 3.83
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| The Federal Bank Ltd. | Financial | 3.60% | ₹195 Cr | +2.84% | +2.81% | +1.84% |
| Indusind Bank Ltd. | Financial | 3.37% | ₹182 Cr | +2.98% | +2.64% | — |
| Coforge Ltd. | Technology | 2.81% | ₹152 Cr | +2.24% | +1.10% | +1.82% |
| Aditya Birla Capital Ltd. | Financial | 2.81% | ₹152 Cr | +1.65% | +1.44% | +1.21% |
| L&T Finance Ltd. | Financial | 2.79% | ₹151 Cr | +2.51% | +1.83% | +1.28% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 2.59% | ₹140 Cr | +2.11% | +3.16% | +2.12% |
| Kei Industries Ltd. | Capital Goods | 2.56% | ₹139 Cr | +2.61% | +2.48% | +1.43% |
| Nippon Life India Asset Management Ltd. | Financial | 2.53% | ₹137 Cr | +2.63% | +2.18% | +1.99% |
| PB Fintech Ltd. | Services | 2.52% | ₹136 Cr | +2.54% | +1.28% | — |
| Others | Others | 2.31% | ₹125 Cr | +0.09% | +1.17% | +1.47% |
| IDFC First Bank Ltd. | Financial | 2.13% | ₹115 Cr | +1.97% | +2.11% | +2.01% |
| Anthem Biosciences Ltd. | Healthcare | 2.10% | ₹114 Cr | +1.99% | +1.75% | +1.30% |
| Fortis Healthcare Ltd. | Healthcare | 2.09% | ₹113 Cr | +1.28% | +1.21% | +1.02% |
| Max Financial Services Ltd. | Financial | 2.05% | ₹111 Cr | +2.43% | +2.75% | — |
| AIA Engineering Ltd. | Metals & Mining | 2.04% | ₹110 Cr | +2.51% | +2.30% | +0.75% |
| UNO Minda Ltd. | Automobile | 2.03% | ₹110 Cr | +1.95% | +2.13% | +2.60% |
| Cochin Shipyard Ltd. | Capital Goods | 2.00% | ₹108 Cr | +1.34% | — | — |
| Bank of Maharashtra | Financial | 2.00% | ₹108 Cr | +2.15% | +1.60% | — |
| Radico Khaitan Ltd. | Consumer Staples | 1.93% | ₹104 Cr | +1.68% | +0.96% | — |
| APL Apollo Tubes Ltd. | Metals & Mining | 1.93% | ₹104 Cr | +2.03% | +1.32% | +2.07% |
| JSW Energy Ltd. | Capital Goods | 1.90% | ₹103 Cr | +2.57% | +2.31% | +1.92% |
| Marico Ltd. | Consumer Staples | 1.90% | ₹103 Cr | +2.01% | +1.80% | +1.89% |
| Tube Investments Of India Ltd. | Automobile | 1.84% | ₹99.48 Cr | +2.31% | +2.22% | +2.33% |
| GE Vernova T&D India Ltd | Capital Goods | 1.76% | ₹94.99 Cr | +1.93% | +1.59% | — |
| Belrise Industries Ltd. | Automobile | 1.75% | ₹94.42 Cr | +1.11% | +1.05% | +1.07% |
| JK Cement Ltd. | Materials | 1.74% | ₹94.08 Cr | +1.95% | +2.33% | +2.31% |
| Biocon Ltd. | Healthcare | 1.71% | ₹92.53 Cr | +1.43% | +1.42% | +1.17% |
| Astral Ltd. | Materials | 1.71% | ₹92.29 Cr | +1.97% | +2.28% | +2.11% |
| Mphasis Ltd. | Technology | 1.69% | ₹91.47 Cr | +1.76% | +1.51% | +1.50% |
| JSW Infrastructure Ltd. | Services | 1.68% | ₹90.59 Cr | +1.34% | +1.35% | +0.95% |
| Karur Vysya Bank Ltd. | Financial | 1.64% | ₹88.45 Cr | +1.51% | — | — |
| SRF Ltd. | Chemicals | 1.63% | ₹88.02 Cr | +1.69% | +1.19% | — |
| Blue Star Ltd. | Consumer Discretionary | 1.59% | ₹85.69 Cr | +1.91% | +2.35% | +2.59% |
| 360 One Wam Ltd. | Financial | 1.54% | ₹83.16 Cr | +1.44% | — | — |
| Larsen & Toubro Ltd. | Construction | 1.48% | ₹79.93 Cr | +1.77% | — | — |
| Solar Industries India Ltd. | Chemicals | 1.47% | ₹79.58 Cr | +1.48% | +1.20% | +1.40% |
| Shriram Finance Ltd | Financial | 1.45% | ₹78.31 Cr | +1.25% | +1.56% | +0.95% |
| Godrej Properties Ltd. | Construction | 1.40% | ₹75.95 Cr | +0.89% | +1.27% | +1.63% |
| Minda Corporation Ltd. | Automobile | 1.40% | ₹75.65 Cr | +1.36% | +0.85% | +1.02% |
| Equitas Small Finance Bank Ltd. | Financial | 1.37% | ₹74.10 Cr | +1.71% | +1.14% | — |
| Triveni Turbine Ltd. | Construction | 1.36% | ₹73.42 Cr | +1.94% | +1.29% | +1.56% |
| Ceat Ltd. | Automobile | 1.36% | ₹73.35 Cr | +1.24% | +0.84% | +1.46% |
| NMDC Ltd. | Metals & Mining | 1.32% | ₹71.63 Cr | +1.47% | +1.50% | +0.90% |
| Aster DM Quality Care Ltd. | Healthcare | 1.21% | ₹65.57 Cr | +1.30% | +1.28% | — |
| Varun Beverages Ltd. | Consumer Staples | 1.19% | ₹64.26 Cr | +1.38% | +1.30% | +1.00% |
| Bharti Hexacom Ltd. | Communication | 1.19% | ₹64.14 Cr | +1.28% | +1.50% | +2.00% |
| Elecon Engineering Company Ltd. | Capital Goods | 1.06% | ₹57.28 Cr | +0.41% | — | — |
| Schaeffler India Ltd. | Capital Goods | 1.00% | ₹53.90 Cr | +1.14% | +1.26% | +1.59% |
| company:5865 | Financial | 0.99% | ₹53.64 Cr | — | — | — |
| Container Corporation Of India Ltd. | Services | 0.99% | ₹53.57 Cr | +0.89% | — | — |
| company:7678 | Capital Goods | 0.96% | ₹52.06 Cr | — | — | — |
| Kirloskar Brothers Ltd. | Capital Goods | 0.94% | ₹50.68 Cr | +0.90% | +0.95% | +1.33% |
| Kajaria Ceramics Ltd. | Materials | 0.88% | ₹47.80 Cr | +1.03% | +1.01% | +0.91% |
| Garden Reach Shipbuilders & Engineers Ltd. | Capital Goods | 0.87% | ₹46.92 Cr | +1.00% | — | — |
| ITC Hotels Ltd. | Services | 0.85% | ₹46.01 Cr | +0.91% | +1.14% | +1.76% |
| LG Electronics India Ltd. | Consumer Discretionary | 0.81% | ₹43.72 Cr | +0.81% | +0.92% | — |
| Dalmia Bharat Ltd. | Materials | 0.81% | ₹43.57 Cr | +0.84% | +1.05% | — |
| company:642 | Metals & Mining | 0.66% | ₹35.65 Cr | — | — | — |
| company:20621 | Metals & Mining | 0.46% | ₹24.80 Cr | — | — | — |
| company:896 | Financial | 0.27% | ₹14.56 Cr | — | +2.55% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| company:5865 | 0.00% | 0.99% | +0.99% |
| company:7678 | 0.00% | 0.96% | +0.96% |
| LIC Housing Finance Ltd. | 0.85% | 0.00% | -0.85% |
| company:642 | 0.00% | 0.66% | +0.66% |
| company:20621 | 0.00% | 0.46% | +0.46% |
| SRF Ltd. | 1.99% | 1.63% | -0.36% |
| JSW Energy Ltd. | 2.25% | 1.90% | -0.35% |
| Blue Star Ltd. | 1.90% | 1.59% | -0.31% |
| Aditya Birla Capital Ltd. | 2.51% | 2.81% | +0.30% |
| PB Fintech Ltd. | 2.24% | 2.52% | +0.28% |
| Coforge Ltd. | 2.54% | 2.81% | +0.27% |
| company:896 | 0.00% | 0.27% | +0.27% |
| AIA Engineering Ltd. | 2.29% | 2.04% | -0.25% |
| Kei Industries Ltd. | 2.33% | 2.56% | +0.23% |
| L&T Finance Ltd. | 2.56% | 2.79% | +0.23% |
| Marico Ltd. | 2.10% | 1.90% | -0.20% |
| Equitas Small Finance Bank Ltd. | 1.57% | 1.37% | -0.20% |
| Varun Beverages Ltd. | 1.37% | 1.19% | -0.18% |
| JK Cement Ltd. | 1.92% | 1.74% | -0.18% |
| Fortis Healthcare Ltd. | 2.27% | 2.09% | -0.18% |
| The Federal Bank Ltd. | 3.77% | 3.60% | -0.17% |
| Glenmark Pharmaceuticals Ltd. | 2.43% | 2.59% | +0.16% |
| Aster DM Quality Care Ltd. | 1.37% | 1.21% | -0.16% |
| GE Vernova T&D India Ltd | 1.61% | 1.76% | +0.15% |
| Kajaria Ceramics Ltd. | 1.03% | 0.88% | -0.15% |
| Larsen & Toubro Ltd. | 1.61% | 1.48% | -0.13% |
| Indusind Bank Ltd. | 3.50% | 3.37% | -0.13% |
| Biocon Ltd. | 1.84% | 1.71% | -0.13% |
| Godrej Properties Ltd. | 1.53% | 1.40% | -0.13% |
| Triveni Turbine Ltd. | 1.47% | 1.36% | -0.11% |
| Anthem Biosciences Ltd. | 1.99% | 2.10% | +0.11% |
| Bharti Hexacom Ltd. | 1.29% | 1.19% | -0.10% |
| Belrise Industries Ltd. | 1.85% | 1.75% | -0.10% |
| Nippon Life India Asset Management Ltd. | 2.61% | 2.53% | -0.08% |
| JSW Infrastructure Ltd. | 1.60% | 1.68% | +0.08% |
| UNO Minda Ltd. | 1.96% | 2.03% | +0.07% |
| Solar Industries India Ltd. | 1.40% | 1.47% | +0.07% |
| Container Corporation Of India Ltd. | 1.06% | 0.99% | -0.07% |
| LG Electronics India Ltd. | 0.74% | 0.81% | +0.07% |
| Ceat Ltd. | 1.42% | 1.36% | -0.06% |
| Schaeffler India Ltd. | 1.06% | 1.00% | -0.06% |
| Elecon Engineering Company Ltd. | 1.12% | 1.06% | -0.06% |
| Tube Investments Of India Ltd. | 1.90% | 1.84% | -0.06% |
| IDFC First Bank Ltd. | 2.19% | 2.13% | -0.06% |
| Garden Reach Shipbuilders & Engineers Ltd. | 0.92% | 0.87% | -0.05% |
| ITC Hotels Ltd. | 0.90% | 0.85% | -0.05% |
| Karur Vysya Bank Ltd. | 1.68% | 1.64% | -0.04% |
| APL Apollo Tubes Ltd. | 1.89% | 1.93% | +0.04% |
| Cochin Shipyard Ltd. | 1.97% | 2.00% | +0.03% |
| Minda Corporation Ltd. | 1.43% | 1.40% | -0.03% |
| Shriram Finance Ltd | 1.42% | 1.45% | +0.03% |
| Kirloskar Brothers Ltd. | 0.96% | 0.94% | -0.02% |
| Bank of Maharashtra | 2.02% | 2.00% | -0.02% |
| Astral Ltd. | 1.69% | 1.71% | +0.02% |
| Max Financial Services Ltd. | 2.04% | 2.05% | +0.01% |
| Radico Khaitan Ltd. | 1.94% | 1.93% | -0.01% |
| 360 One Wam Ltd. | 1.55% | 1.54% | -0.01% |
| Others | 0.03% | 0.02% | -0.01% |
| Mphasis Ltd. | 1.70% | 1.69% | -0.01% |
| NMDC Ltd. | 1.33% | 1.32% | -0.01% |
| Dalmia Bharat Ltd. | 0.81% | 0.81% | 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 | ₹13,775 Cr | 2.01% | 12.6% | 14.3% | 19.1% |
 Edelweiss Mid Cap Fund | ₹19,891 Cr | 1.86% | 4.8% | 10.7% | 17.2% |
 HSBC Midcap Fund | ₹17,188 Cr | 2.21% | 21.7% | 17.0% | 20.7% |
 Invesco India Mid Cap Fund | ₹15,905 Cr | 1.88% | 13.6% | 15.9% | 20.4% |
 ICICI Prudential Mid Cap Fund | ₹8,403 Cr | 1.83% | 9.3% | 13.6% | 17.9% |
 WhiteOak Capital Mid Cap Fund | ₹7,485 Cr | 2.25% | 13.5% | 14.5% | — |
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 months9.59% absolute | ₹60,000 | ₹65,754 | 9.59% | |
| 1 year7.38% annualised | ₹1,20,000 | ₹1,24,907 | 4.09% | |
| 3 years15.73% annualised | ₹3,60,000 | ₹4,62,278 | 28.41% | |
| 5 years15.75% annualised | ₹6,00,000 | ₹9,15,991 | 52.67% |
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 ₹35.23 as on 24 Sep 2026.
What is the expense ratio of Mahindra Manulife Mid Cap Fund?
The expense ratio of Mahindra Manulife Mid Cap Fund is 2.02% 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 4.9% over 1 year, 8.5% over 3 years and 15.9% 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 ₹34,805 Cr under management.