Mahindra Manulife Multi Asset Allocation Fund
Multi Asset AllocationVery HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹13.97+0.68%1 day
- Return since launch
- 13.1%
- 52-week range
- ₹12.58 — ₹14.12
- AUM
- ₹1,214 Cr
Mahindra Manulife Multi Asset Allocation Fund is a Multi Asset Allocation hybrid fund from Mahindra Manulife Mutual Fund with ₹1,214 Cr under management, launched in 2024. The expense ratio is 1.89% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Multi Asset Allocation Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +7.2% against +5.3% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 7.0% | +1.9 pts | 5.1% | 3.9% |
| 2Y | 11.5% | +3.9 pts | 7.7% | 8.2% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 4.1% | +1.2 pts | 2.9% | 3.3% |
| 3M | -0.2% | +1.5 pts | -1.7% | -1.6% |
| 6M | 4.0% | +2.5 pts | 1.6% | 2.0% |
| 1Y | 7.5% | +2.4 pts | 5.1% | 5.8% |
| 2Y | 11.8% | +3.4 pts | 8.4% | 8.8% |
Since launch (20 Feb 2024): 13.1%
Calendar-year returns
Category average20.8%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 20.8% | +4.0 pts | 16.8% |
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
1.91%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.57%
- Brokerage
- 0.04%
- Transaction charges
- 0.00%
- Statutory levies
- 0.30%
- 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
- NA
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 Multi Asset Allocation Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity52.2%
- Debt25.0%
- Commodities14.9%
- Other7.9%
Market cap split
- Large67.1%
- Mid12.9%
- Small20.0%
- P/E
- 22.09
- P/B
- 3.00
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Prudential Gold Exchange Traded Fund | Unclassified | 12.32% | ₹150 Cr | +8.62% | +10.15% | +7.55% |
| Mahindra Manulife Liquid Fund Direct -Growth | Unclassified | 4.94% | ₹60.01 Cr | +4.34% | +6.87% | +5.07% |
| HDFC Bank Ltd. | Financial | 3.50% | ₹42.46 Cr | +4.15% | +3.94% | +3.31% |
| ICICI Bank Ltd. | Financial | 3.39% | ₹41.20 Cr | +3.72% | +2.94% | +3.13% |
| Brookfield India Real Estate Trust REIT | Construction | 3.36% | ₹40.77 Cr | +3.49% | +0.84% | +1.96% |
| Muthoot Finance Ltd. | Financial | 3.09% | ₹37.46 Cr | +3.29% | +2.47% | +3.68% |
| Nippon India Silver ETF - Growth | Unclassified | 2.87% | ₹34.90 Cr | +1.11% | +1.27% | +10.62% |
| Others | Others | 2.79% | ₹33.83 Cr | +0.18% | +8.58% | +1.53% |
| Shriram Finance Ltd | Financial | 2.58% | ₹31.29 Cr | +1.60% | +1.50% | — |
| Bharti Airtel Ltd. | Communication | 2.08% | ₹25.27 Cr | +2.31% | +2.51% | +1.55% |
| Embassy Office Parks REIT | Construction | 2.07% | ₹25.15 Cr | +1.80% | +1.94% | +3.98% |
| TVS Credit Services Ltd. | Financial | 2.07% | ₹25.09 Cr | +2.19% | +2.47% | +3.68% |
| Bajaj Finance Ltd. | Financial | 2.07% | ₹25.08 Cr | +1.86% | +1.68% | +2.36% |
| Divi's Laboratories Ltd. | Healthcare | 2.02% | ₹24.55 Cr | +1.51% | +1.54% | +1.50% |
| Reliance Industries Ltd. | Energy | 1.99% | ₹24.19 Cr | +2.29% | +2.39% | +2.01% |
| State Bank of India | Financial | 1.62% | ₹19.71 Cr | +1.83% | +1.97% | +1.96% |
| Bharti Telecom Ltd. | Communication | 1.61% | ₹19.58 Cr | +1.71% | +1.93% | — |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 1.44% | ₹17.51 Cr | +1.52% | — | — |
| GOI | Sovereign | 1.40% | ₹17.00 Cr | +0.43% | +0.50% | +1.02% |
| Kotak Mahindra Bank Ltd. | Financial | 1.40% | ₹16.99 Cr | +1.39% | +0.87% | +0.79% |
| SPR Auto Technologies Ltd. | Automobile | 1.40% | ₹16.95 Cr | +1.32% | +1.08% | +0.72% |
| Aditya Vision Ltd. | Services | 1.27% | ₹15.42 Cr | +1.48% | +1.22% | +1.18% |
| Axis Bank Ltd. | Financial | 1.24% | ₹15.08 Cr | +1.44% | +1.40% | +1.56% |
| Power Finance Corporation Ltd. | Financial | 1.23% | ₹14.94 Cr | +1.31% | — | — |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 1.05% | ₹12.81 Cr | +1.14% | +1.21% | +0.91% |
| Persistent Systems Ltd. | Technology | 1.03% | ₹12.56 Cr | +0.89% | +0.61% | +0.50% |
| Tech Mahindra Ltd. | Technology | 1.01% | ₹12.24 Cr | +0.98% | +1.09% | +0.92% |
| Infosys Ltd. | Technology | 0.99% | ₹11.97 Cr | +1.05% | +1.48% | +1.40% |
| Larsen & Toubro Ltd. | Construction | 0.98% | ₹11.84 Cr | +1.13% | +1.60% | +1.03% |
| Eternal Ltd. | Services | 0.98% | ₹11.84 Cr | +0.85% | +0.83% | — |
| NTPC Ltd. | Energy | 0.94% | ₹11.40 Cr | +1.09% | +1.28% | +1.24% |
| Inox India Ltd. | Metals & Mining | 0.94% | ₹11.38 Cr | +0.94% | +0.64% | +0.54% |
| PTC Industries Ltd. | Metals & Mining | 0.92% | ₹11.17 Cr | +0.75% | +0.74% | +0.51% |
| Tata Steel Ltd. | Metals & Mining | 0.92% | ₹11.16 Cr | +0.99% | +1.14% | +1.01% |
| Coromandel International Ltd. | Chemicals | 0.89% | ₹10.79 Cr | +1.07% | +1.15% | +1.11% |
| Tata Power Company Ltd. | Energy | 0.89% | ₹10.77 Cr | +1.00% | +1.11% | — |
| Mahindra & Mahindra Ltd. | Automobile | 0.81% | ₹9.88 Cr | +0.71% | +1.06% | +1.81% |
| Sai Life Sciences Ltd. | Healthcare | 0.76% | ₹9.27 Cr | — | — | — |
| Anthem Biosciences Ltd. | Healthcare | 0.74% | ₹9.04 Cr | +0.70% | +0.68% | — |
| Hindustan Aeronautics Ltd. | Capital Goods | 0.73% | ₹8.89 Cr | +0.67% | +0.60% | — |
| S.P. Apparels Ltd. | Textiles | 0.73% | ₹8.81 Cr | +0.90% | +0.68% | +0.63% |
| Grasim Industries Ltd. | Materials | 0.72% | ₹8.80 Cr | +0.77% | +0.72% | +1.07% |
| Godrej Industries Ltd. | Consumer Staples | 0.70% | ₹8.50 Cr | +0.74% | +0.84% | +1.26% |
| Nexus Select Trust | Construction | 0.68% | ₹8.27 Cr | +0.74% | +1.24% | +2.39% |
| L&T Finance Ltd. | Financial | 0.67% | ₹8.12 Cr | +0.83% | +0.72% | +1.16% |
| LG Balakrishnan & Bros Ltd. | Automobile | 0.66% | ₹8.05 Cr | +0.54% | +0.62% | +0.65% |
| Hyundai Motor India Ltd. | Automobile | 0.64% | ₹7.72 Cr | — | — | — |
| Nippon Life India Asset Management Ltd. | Financial | 0.63% | ₹7.60 Cr | +0.66% | +0.51% | — |
| Union Bank of India | Financial | 0.62% | ₹7.47 Cr | +0.46% | +0.50% | — |
| Godfrey Phillips India Ltd. | Consumer Staples | 0.62% | ₹7.47 Cr | — | — | — |
| ISGEC Heavy Engineering Ltd. | Capital Goods | 0.61% | ₹7.35 Cr | +0.60% | +0.64% | +0.39% |
| TVS Motor Company Ltd. | Automobile | 0.60% | ₹7.31 Cr | +0.53% | — | — |
| Power Grid Corporation Of India Ltd. | Energy | 0.60% | ₹7.29 Cr | +0.70% | +0.81% | +0.48% |
| K.P.R. Mill Ltd. | Textiles | 0.59% | ₹7.19 Cr | +0.67% | — | — |
| Kajaria Ceramics Ltd. | Materials | 0.59% | ₹7.16 Cr | — | — | — |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.59% | ₹7.15 Cr | +0.30% | +0.59% | +0.52% |
| Technocraft Industries (India) Ltd. | Metals & Mining | 0.57% | ₹6.93 Cr | +0.59% | +0.57% | +0.37% |
| Raajmarg Infra Investment Trust | Construction | 0.57% | ₹6.90 Cr | +0.57% | +0.61% | — |
| Shree Cement Ltd. | Materials | 0.57% | ₹6.88 Cr | +0.68% | +0.69% | +0.91% |
| SBI Life Insurance Company Ltd. | Insurance | 0.56% | ₹6.80 Cr | +0.51% | +0.58% | +0.73% |
| Bharat Electronics Ltd. | Capital Goods | 0.55% | ₹6.68 Cr | +0.55% | — | — |
| Kirloskar Brothers Ltd. | Capital Goods | 0.55% | ₹6.66 Cr | +0.60% | +0.54% | +0.55% |
| National Aluminium Company Ltd. | Metals & Mining | 0.54% | ₹6.55 Cr | — | — | — |
| Oil India Ltd. | Energy | 0.54% | ₹6.51 Cr | — | — | — |
| Tata Consumer Products Ltd. | Consumer Staples | 0.53% | ₹6.45 Cr | +0.57% | +0.61% | +0.72% |
| Tata Motors Ltd. | Automobile | 0.53% | ₹6.45 Cr | +0.56% | — | — |
| Hindalco Industries Ltd. | Metals & Mining | 0.53% | ₹6.39 Cr | +0.44% | +0.85% | +0.74% |
| JK Cement Ltd. | Materials | 0.49% | ₹5.98 Cr | +0.56% | +0.59% | +0.98% |
| Hindustan Unilever Ltd. | Consumer Staples | 0.49% | ₹5.90 Cr | +0.47% | +0.51% | +0.53% |
| Ingersoll-Rand (India) Ltd. | Capital Goods | 0.46% | ₹5.59 Cr | +0.53% | — | — |
| Aditya Birla Real Estate Ltd | Consumer Staples | 0.41% | ₹4.97 Cr | — | — | — |
| Maharashtra State | Others | 0.41% | ₹4.93 Cr | +0.44% | +0.49% | — |
| Bajaj Housing Finance Ltd. | Financial | 0.40% | ₹4.90 Cr | — | — | — |
| Archean Chemical Industries Ltd. | Chemicals | 0.40% | ₹4.86 Cr | +0.45% | +0.58% | +0.57% |
| Tata Capital Housing Finance Ltd. | Financial | 0.40% | ₹4.83 Cr | — | — | — |
| Sundaram Finance Ltd. | Financial | 0.20% | ₹2.45 Cr | +0.21% | +1.45% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Mahindra Manulife Liquid Fund Direct -Growth | 0.00% | 4.94% | +4.94% |
| company:9813 | 2.83% | 0.00% | -2.83% |
| company:5536 | 1.20% | 0.00% | -1.20% |
| Gland Pharma Ltd. | 0.80% | 0.00% | -0.80% |
| Sai Life Sciences Ltd. | 0.00% | 0.76% | +0.76% |
| GAIL (India) Ltd. | 0.44% | 0.00% | -0.44% |
| Aditya Birla Real Estate Ltd | 0.00% | 0.41% | +0.41% |
| company:6306 | 0.41% | 0.00% | -0.41% |
| Bajaj Housing Finance Ltd. | 0.00% | 0.40% | +0.40% |
| Tata Capital Housing Finance Ltd. | 0.00% | 0.40% | +0.40% |
| ICICI Prudential Gold Exchange Traded Fund | 12.65% | 12.32% | -0.34% |
| ICICI Bank Ltd. | 3.67% | 3.39% | -0.28% |
| Oil And Natural Gas Corporation Ltd. | 0.43% | 0.59% | +0.16% |
| Union Bank of India | 0.47% | 0.62% | +0.14% |
| State Bank of India | 1.76% | 1.62% | -0.14% |
| Nippon India Silver ETF - Growth | 3.01% | 2.87% | -0.13% |
| LG Balakrishnan & Bros Ltd. | 0.53% | 0.66% | +0.13% |
| L&T Finance Ltd. | 0.80% | 0.67% | -0.13% |
| ISGEC Heavy Engineering Ltd. | 0.48% | 0.61% | +0.12% |
| Infosys Ltd. | 1.11% | 0.99% | -0.12% |
| Reliance Industries Ltd. | 2.11% | 1.99% | -0.12% |
| GOI | 1.51% | 1.40% | -0.11% |
| Mahindra & Mahindra Ltd. | 0.70% | 0.81% | +0.11% |
| SBI Life Insurance Company Ltd. | 0.47% | 0.56% | +0.09% |
| Hindustan Unilever Ltd. | 0.40% | 0.49% | +0.08% |
| Shriram Finance Ltd | 0.79% | 0.71% | -0.08% |
| Sun Pharmaceutical Industries Ltd. | 1.13% | 1.05% | -0.08% |
| Bajaj Finance Ltd. | 0.92% | 0.85% | -0.07% |
| Ingersoll-Rand (India) Ltd. | 0.53% | 0.46% | -0.07% |
| Muthoot Finance Ltd. | 3.02% | 3.09% | +0.07% |
| Kajaria Ceramics Ltd. | 0.52% | 0.59% | +0.07% |
| Technocraft Industries (India) Ltd. | 0.64% | 0.57% | -0.06% |
| Grasim Industries Ltd. | 0.78% | 0.72% | -0.06% |
| Coromandel International Ltd. | 0.95% | 0.89% | -0.06% |
| HDFC Bank Ltd. | 3.44% | 3.50% | +0.06% |
| Larsen & Toubro Ltd. | 1.03% | 0.98% | -0.06% |
| Axis Bank Ltd. | 1.29% | 1.24% | -0.05% |
| Tata Motors Ltd. | 0.58% | 0.53% | -0.05% |
| S.P. Apparels Ltd. | 0.78% | 0.73% | -0.05% |
| Tech Mahindra Ltd. | 1.06% | 1.01% | -0.05% |
| Hindustan Aeronautics Ltd. | 0.69% | 0.73% | +0.04% |
| Tata Power Company Ltd. | 0.84% | 0.89% | +0.04% |
| Persistent Systems Ltd. | 1.08% | 1.03% | -0.04% |
| Hyundai Motor India Ltd. | 0.68% | 0.64% | -0.04% |
| SPR Auto Technologies Ltd. | 1.36% | 1.40% | +0.04% |
| Bharat Electronics Ltd. | 0.52% | 0.55% | +0.03% |
| TVS Credit Services Ltd. | 2.03% | 2.07% | +0.03% |
| Hindalco Industries Ltd. | 0.56% | 0.53% | -0.03% |
| Oil India Ltd. | 0.57% | 0.54% | -0.03% |
| K.P.R. Mill Ltd. | 0.62% | 0.59% | -0.03% |
| Bharti Airtel Ltd. | 2.11% | 2.08% | -0.03% |
| Kirloskar Brothers Ltd. | 0.58% | 0.55% | -0.03% |
| Cholamandalam Investment and Finance Company Ltd. | 1.41% | 1.44% | +0.03% |
| TVS Motor Company Ltd. | 0.63% | 0.60% | -0.02% |
| Bharti Telecom Ltd. | 1.59% | 1.61% | +0.02% |
| Inox India Ltd. | 0.96% | 0.94% | -0.02% |
| Tata Consumer Products Ltd. | 0.51% | 0.53% | +0.02% |
| Power Finance Corporation Ltd. | 1.21% | 1.23% | +0.02% |
| PTC Industries Ltd. | 0.90% | 0.92% | +0.02% |
| Anthem Biosciences Ltd. | 0.76% | 0.74% | -0.02% |
| Kotak Mahindra Bank Ltd. | 1.38% | 1.40% | +0.02% |
| Tata Steel Ltd. | 0.90% | 0.92% | +0.02% |
| Shree Cement Ltd. | 0.58% | 0.57% | -0.01% |
| Others | 0.04% | 0.05% | +0.01% |
| Godrej Industries Ltd. | 0.69% | 0.70% | +0.01% |
| Nexus Select Trust | 0.67% | 0.68% | +0.01% |
| Nippon Life India Asset Management Ltd. | 0.62% | 0.63% | +0.01% |
| Aditya Vision Ltd. | 1.26% | 1.27% | +0.01% |
| Eternal Ltd. | 0.98% | 0.98% | -0.01% |
| Raajmarg Infra Investment Trust | 0.56% | 0.57% | +0.01% |
| Archean Chemical Industries Ltd. | 0.39% | 0.40% | +0.01% |
| Embassy Office Parks REIT | 0.84% | 0.85% | +0.01% |
| Divi's Laboratories Ltd. | 2.03% | 2.02% | 0.00% |
| Power Grid Corporation Of India Ltd. | 0.60% | 0.60% | 0.00% |
| Sundaram Finance Ltd. | 0.20% | 0.20% | 0.00% |
| JK Cement Ltd. | 0.49% | 0.49% | 0.00% |
| NTPC Ltd. | 0.94% | 0.94% | 0.00% |
| Godfrey Phillips India Ltd. | 0.61% | 0.62% | 0.00% |
| National Aluminium Company Ltd. | 0.54% | 0.54% | 0.00% |
| Maharashtra State | 0.40% | 0.41% | 0.00% |
| Brookfield India Real Estate Trust REIT | 3.36% | 3.36% | 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 | ₹10,235 Cr | 1.65% | 4.0% | 11.9% | 14.8% |
 Nippon India Multi Asset Allocation Fund | ₹18,044 Cr | 1.45% | 4.1% | 11.8% | 14.7% |
 Kotak Multi Asset Allocation Fund | ₹15,236 Cr | 1.78% | 1.3% | 11.3% | — |
 DSP Multi Asset Allocation Fund | ₹10,820 Cr | 1.57% | 4.0% | 13.0% | — |
 Quant Multi Asset Allocation Fund | ₹6,608 Cr | 2.14% | 5.1% | 12.4% | 16.4% |
 Aditya Birla Sun Life Multi-Asset Omni FoF | ₹468 Cr | 1.32% | 5.6% | 10.9% | 13.4% |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The Scheme seek to generate long-term capital appreciation and income by investing in equity and equity related securities, debt & money market instruments, Gold/Silver ETFs and Exchange Traded Commodity Derivatives (ETCDs) as permitted by SEBI from time to time.
Fund managers
- Kush SonigaraMr. Sonigara is a B.Com (FM), FRMPrior to joining Mahindra Manulife Mutual Fund, he has worked with Taurus Asset Management Co. Ltd., My Capital Solutions Pvt. Ltd. and TBNG Financial Consultants.
- Rahul PalMr. Pal is a B.Com (H) and Chartered Accountant.Prior to joining Mahindra Manulife Mutual Fund, he has worked with Taurus AMC, Sundaram Mutual Fund and IDBI Mutual Fund.
- 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 months4.05% absolute | ₹60,000 | ₹62,430 | 4.05% | |
| 1 year7.45% annualised | ₹1,20,000 | ₹1,24,954 | 4.13% |
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 Multi Asset Allocation Fund?
The NAV of Mahindra Manulife Multi Asset Allocation Fund is ₹13.97 as on 9 Nov 2026.
What is the expense ratio of Mahindra Manulife Multi Asset Allocation Fund?
The expense ratio of Mahindra Manulife Multi Asset Allocation Fund is 1.89% per year.
What is the minimum SIP amount for Mahindra Manulife Multi Asset Allocation Fund?
You can start a SIP in Mahindra Manulife Multi Asset Allocation Fund with ₹3,000 a month.
Is there a lock-in or exit load on Mahindra Manulife Multi Asset Allocation Fund?
Lock-in: None. Exit load: Exit load of 0.5%, if redeemed within 3 months..
How risky is Mahindra Manulife Multi Asset Allocation Fund?
Mahindra Manulife Multi Asset Allocation Fund is rated Very High on the SEBI riskometer and belongs to the Multi Asset Allocation category.
Which fund house manages Mahindra Manulife Multi Asset Allocation Fund?
Mahindra Manulife Multi Asset Allocation Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹38,154 Cr under management.