Mahindra Manulife Multi Asset Allocation Fund
Multi Asset AllocationVery HighOPEN-ENDED
- NAV as on 24 Sep 2026
- ₹13.72-0.89%1 day
- Return since launch
- 13.6%
- 52-week range
- ₹12.44 — ₹14.12
- AUM
- ₹1,235 Cr
Mahindra Manulife Multi Asset Allocation Fund is a Multi Asset Allocation hybrid fund from Mahindra Manulife Mutual Fund with ₹1,235 Cr under management, launched in 2024. The expense ratio is 1.91% 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 +9.7% against +7.3% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 4.8% | −2.2 pts | 7.0% | 2.8% |
| 2Y | 10.8% | +3.3 pts | 7.5% | 7.9% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -2.8% | +0.3 pts | -3.1% | -3.2% |
| 3M | 0.9% | +0.4 pts | 0.5% | 0.8% |
| 6M | 5.5% | +0.8 pts | 4.7% | 5.2% |
| 1Y | 9.7% | +2.7 pts | 7.0% | 7.4% |
| 2Y | 9.5% | +3.3 pts | 6.3% | 6.6% |
Since launch (20 Feb 2024): 13.6%
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
1.90%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.57%
- Brokerage
- 0.04%
- Transaction charges
- 0.00%
- Statutory levies
- 0.29%
- 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 31 Aug 2026
Asset allocation
- Equity53.3%
- Debt23.4%
- Commodities15.4%
- Other7.9%
Market cap split
- Large67.5%
- Mid13.1%
- Small19.4%
- P/E
- 23.68
- P/B
- 3.19
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Prudential Gold Exchange Traded Fund | Unclassified | 12.65% | ₹156 Cr | +9.84% | +10.48% | +7.20% |
| HDFC Bank Ltd. | Financial | 4.01% | ₹49.46 Cr | +7.32% | +6.90% | +7.14% |
| ICICI Bank Ltd. | Financial | 3.67% | ₹45.32 Cr | +2.80% | +3.01% | +3.49% |
| Brookfield India Real Estate Trust REIT | Construction | 3.36% | ₹41.46 Cr | +2.20% | +0.91% | +2.46% |
| Muthoot Finance Ltd. | Financial | 3.02% | ₹37.27 Cr | +1.01% | +2.36% | +3.97% |
| Nippon India Silver ETF - Growth | Unclassified | 3.01% | ₹37.16 Cr | +1.34% | +1.41% | +9.54% |
| ICICI Securities Ltd. | Financial | 2.83% | ₹34.94 Cr | +4.45% | — | — |
| Shriram Finance Ltd | Financial | 2.63% | ₹32.46 Cr | +1.50% | +1.36% | — |
| Others | Others | 2.25% | ₹27.80 Cr | +0.18% | +2.79% | +3.42% |
| Bajaj Finance Ltd. | Financial | 2.12% | ₹26.19 Cr | +0.88% | +1.98% | +2.24% |
| Bharti Airtel Ltd. | Communication | 2.11% | ₹26.06 Cr | +2.35% | +1.99% | +1.68% |
| Reliance Industries Ltd. | Energy | 2.11% | ₹26.03 Cr | +2.41% | +2.19% | +2.15% |
| Embassy Office Parks REIT | Construction | 2.05% | ₹25.26 Cr | +1.80% | +1.88% | +3.94% |
| TVS Credit Services Ltd. | Financial | 2.03% | ₹25.12 Cr | +2.24% | +2.36% | +3.97% |
| Divi's Laboratories Ltd. | Healthcare | 2.03% | ₹25.01 Cr | +1.58% | +1.57% | +1.73% |
| State Bank of India | Financial | 1.76% | ₹21.77 Cr | +1.77% | +2.30% | +1.94% |
| Bharti Telecom Ltd. | Communication | 1.59% | ₹19.63 Cr | +1.75% | +1.85% | — |
| GOI | Sovereign | 1.51% | ₹18.67 Cr | +0.43% | +0.92% | +1.06% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 1.41% | ₹17.47 Cr | +0.47% | — | — |
| Kotak Mahindra Bank Ltd. | Financial | 1.38% | ₹17.08 Cr | +0.87% | +0.73% | +0.84% |
| SPR Auto Technologies Ltd. | Automobile | 1.36% | ₹16.79 Cr | +1.10% | +0.82% | +0.56% |
| Axis Bank Ltd. | Financial | 1.29% | ₹15.99 Cr | +1.42% | +1.47% | +1.55% |
| Aditya Vision Ltd. | Services | 1.26% | ₹15.58 Cr | +1.24% | +0.91% | +1.14% |
| Power Finance Corporation Ltd. | Financial | 1.21% | ₹14.96 Cr | +1.33% | — | — |
| Small Industries Devp. Bank of India Ltd. | Financial | 1.20% | ₹14.87 Cr | +1.33% | +0.47% | — |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 1.13% | ₹13.99 Cr | +1.13% | +0.83% | +0.98% |
| Infosys Ltd. | Technology | 1.11% | ₹13.65 Cr | +1.25% | +1.46% | +1.54% |
| Persistent Systems Ltd. | Technology | 1.08% | ₹13.31 Cr | +0.83% | +0.40% | +0.59% |
| Tech Mahindra Ltd. | Technology | 1.06% | ₹13.07 Cr | +1.07% | +1.01% | +1.05% |
| Larsen & Toubro Ltd. | Construction | 1.03% | ₹12.74 Cr | +1.15% | +1.85% | +1.09% |
| Eternal Ltd. | Services | 0.98% | ₹12.14 Cr | +0.83% | +0.55% | — |
| Inox India Ltd. | Metals & Mining | 0.96% | ₹11.83 Cr | +0.74% | +0.60% | +0.55% |
| Coromandel International Ltd. | Chemicals | 0.95% | ₹11.69 Cr | +0.96% | +1.12% | +1.23% |
| NTPC Ltd. | Energy | 0.94% | ₹11.56 Cr | +1.22% | +1.25% | +1.29% |
| Tata Steel Ltd. | Metals & Mining | 0.90% | ₹11.17 Cr | +1.13% | +0.72% | +1.00% |
| PTC Industries Ltd. | Metals & Mining | 0.90% | ₹11.13 Cr | +0.73% | +0.84% | +0.50% |
| Tata Power Company Ltd. | Energy | 0.84% | ₹10.41 Cr | +1.13% | — | — |
| Gland Pharma Ltd. | Healthcare | 0.80% | ₹9.93 Cr | +0.69% | +0.58% | +0.78% |
| L&T Finance Ltd. | Financial | 0.80% | ₹9.83 Cr | +0.79% | +0.81% | +1.09% |
| Grasim Industries Ltd. | Materials | 0.78% | ₹9.69 Cr | +0.80% | +0.75% | +1.16% |
| S.P. Apparels Ltd. | Textiles | 0.78% | ₹9.60 Cr | +0.69% | +0.60% | +0.69% |
| Anthem Biosciences Ltd. | Healthcare | 0.76% | ₹9.40 Cr | +0.72% | +0.69% | — |
| Mahindra & Mahindra Ltd. | Automobile | 0.70% | ₹8.70 Cr | +0.99% | +1.15% | +1.82% |
| Godrej Industries Ltd. | Consumer Staples | 0.69% | ₹8.53 Cr | +0.76% | +0.80% | +1.35% |
| Hindustan Aeronautics Ltd. | Capital Goods | 0.69% | ₹8.50 Cr | +0.68% | +0.53% | — |
| company:19482 | Automobile | 0.68% | ₹8.38 Cr | — | — | — |
| Nexus Select Trust | Construction | 0.67% | ₹8.29 Cr | +0.73% | +1.35% | +2.98% |
| Technocraft Industries (India) Ltd. | Metals & Mining | 0.64% | ₹7.84 Cr | +0.59% | +0.56% | +0.45% |
| TVS Motor Company Ltd. | Automobile | 0.63% | ₹7.73 Cr | — | — | — |
| K.P.R. Mill Ltd. | Textiles | 0.62% | ₹7.68 Cr | +0.56% | — | — |
| Nippon Life India Asset Management Ltd. | Financial | 0.62% | ₹7.62 Cr | +0.64% | — | — |
| company:1270 | Consumer Staples | 0.61% | ₹7.58 Cr | — | — | — |
| Power Grid Corporation Of India Ltd. | Energy | 0.60% | ₹7.38 Cr | +0.73% | +0.78% | +0.51% |
| Tata Motors Ltd. | Automobile | 0.58% | ₹7.21 Cr | — | — | — |
| Shree Cement Ltd. | Materials | 0.58% | ₹7.14 Cr | +0.70% | +0.63% | +0.98% |
| Kirloskar Brothers Ltd. | Capital Goods | 0.58% | ₹7.13 Cr | +0.60% | +0.60% | +0.60% |
| Oil India Ltd. | Energy | 0.57% | ₹7.01 Cr | — | — | — |
| Raajmarg Infra Investment Trust | Construction | 0.56% | ₹6.93 Cr | +0.57% | — | — |
| Hindalco Industries Ltd. | Metals & Mining | 0.56% | ₹6.88 Cr | +0.99% | +0.57% | +0.90% |
| company:2530 | Metals & Mining | 0.54% | ₹6.68 Cr | — | — | — |
| Ingersoll-Rand (India) Ltd. | Capital Goods | 0.53% | ₹6.55 Cr | — | — | — |
| LG Balakrishnan & Bros Ltd. | Automobile | 0.53% | ₹6.54 Cr | +0.52% | +0.70% | +0.65% |
| Kajaria Ceramics Ltd. | Materials | 0.52% | ₹6.47 Cr | — | — | — |
| Bharat Electronics Ltd. | Capital Goods | 0.52% | ₹6.38 Cr | — | — | — |
| Tata Consumer Products Ltd. | Consumer Staples | 0.51% | ₹6.33 Cr | +0.64% | +0.65% | +0.74% |
| JK Cement Ltd. | Materials | 0.49% | ₹6.05 Cr | +0.55% | +0.62% | +1.17% |
| ISGEC Heavy Engineering Ltd. | Capital Goods | 0.48% | ₹5.95 Cr | +0.63% | +0.62% | +0.47% |
| Union Bank of India | Financial | 0.47% | ₹5.85 Cr | +0.47% | +0.58% | — |
| SBI Life Insurance Company Ltd. | Insurance | 0.47% | ₹5.75 Cr | +0.54% | +0.63% | +0.79% |
| GAIL (India) Ltd. | Energy | 0.44% | ₹5.47 Cr | +0.58% | +0.62% | +0.88% |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.43% | ₹5.25 Cr | +0.70% | +0.59% | +0.54% |
| Kotak Mahindra Investments Ltd. | Financial | 0.41% | ₹5.02 Cr | +0.45% | +0.47% | +0.79% |
| Hindustan Unilever Ltd. | Consumer Staples | 0.40% | ₹5.00 Cr | +0.49% | +0.49% | +0.60% |
| Maharashtra State | Others | 0.40% | ₹5.00 Cr | +0.44% | +0.47% | — |
| Archean Chemical Industries Ltd. | Chemicals | 0.39% | ₹4.85 Cr | +0.47% | +0.54% | +0.58% |
| Sundaram Finance Ltd. | Financial | 0.20% | ₹2.46 Cr | +0.22% | +1.39% | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| ICICI Prudential Gold Exchange Traded Fund | 9.15% | 12.65% | +3.50% |
| ICICI Securities Ltd. | 4.98% | 2.83% | -2.15% |
| Nippon India Silver ETF - Growth | 1.04% | 3.01% | +1.97% |
| National Housing Bank | 1.26% | 0.00% | -1.26% |
| GOI | 0.41% | 1.51% | +1.10% |
| company:19482 | 0.00% | 0.68% | +0.68% |
| Maruti Suzuki India Ltd. | 0.63% | 0.00% | -0.63% |
| company:1270 | 0.00% | 0.61% | +0.61% |
| company:2530 | 0.00% | 0.54% | +0.54% |
| ITC Ltd. | 0.47% | 0.00% | -0.47% |
| HDFC Bank Ltd. | 3.75% | 3.44% | -0.31% |
| Bharti Airtel Ltd. | 2.37% | 2.11% | -0.26% |
| Divi's Laboratories Ltd. | 1.78% | 2.03% | +0.25% |
| Tega Industries Ltd. | 0.22% | 0.00% | -0.22% |
| PTC Industries Ltd. | 0.75% | 0.90% | +0.15% |
| Reliance Industries Ltd. | 2.23% | 2.11% | -0.12% |
| Muthoot Finance Ltd. | 3.14% | 3.02% | -0.12% |
| Aditya Vision Ltd. | 1.38% | 1.26% | -0.12% |
| Tata Power Company Ltd. | 0.96% | 0.84% | -0.12% |
| Coromandel International Ltd. | 1.06% | 0.95% | -0.11% |
| Brookfield India Real Estate Trust REIT | 3.47% | 3.36% | -0.11% |
| Bajaj Finance Ltd. | 1.02% | 0.92% | -0.10% |
| NTPC Ltd. | 1.03% | 0.94% | -0.09% |
| Shree Cement Ltd. | 0.67% | 0.58% | -0.09% |
| Gland Pharma Ltd. | 0.72% | 0.80% | +0.08% |
| Inox India Ltd. | 0.88% | 0.96% | +0.08% |
| Power Grid Corporation Of India Ltd. | 0.67% | 0.60% | -0.07% |
| ICICI Bank Ltd. | 3.74% | 3.67% | -0.07% |
| TVS Credit Services Ltd. | 2.10% | 2.03% | -0.07% |
| Bharti Telecom Ltd. | 1.65% | 1.59% | -0.06% |
| Tata Steel Ltd. | 0.96% | 0.90% | -0.06% |
| Technocraft Industries (India) Ltd. | 0.58% | 0.64% | +0.06% |
| SBI Life Insurance Company Ltd. | 0.52% | 0.47% | -0.05% |
| Kotak Mahindra Bank Ltd. | 1.33% | 1.38% | +0.05% |
| K.P.R. Mill Ltd. | 0.57% | 0.62% | +0.05% |
| Anthem Biosciences Ltd. | 0.71% | 0.76% | +0.05% |
| Tech Mahindra Ltd. | 1.11% | 1.06% | -0.05% |
| JK Cement Ltd. | 0.54% | 0.49% | -0.05% |
| Power Finance Corporation Ltd. | 1.26% | 1.21% | -0.05% |
| Archean Chemical Industries Ltd. | 0.44% | 0.39% | -0.05% |
| Mahindra & Mahindra Ltd. | 0.75% | 0.70% | -0.05% |
| Small Industries Devp. Bank of India Ltd. | 1.25% | 1.20% | -0.05% |
| Hindustan Unilever Ltd. | 0.45% | 0.40% | -0.05% |
| Cholamandalam Investment and Finance Company Ltd. | 1.46% | 1.41% | -0.05% |
| Eternal Ltd. | 0.94% | 0.98% | +0.04% |
| Ingersoll-Rand (India) Ltd. | 0.49% | 0.53% | +0.04% |
| ISGEC Heavy Engineering Ltd. | 0.52% | 0.48% | -0.04% |
| Tata Consumer Products Ltd. | 0.55% | 0.51% | -0.04% |
| Sun Pharmaceutical Industries Ltd. | 1.17% | 1.13% | -0.04% |
| Axis Bank Ltd. | 1.26% | 1.29% | +0.03% |
| Oil And Natural Gas Corporation Ltd. | 0.46% | 0.43% | -0.03% |
| Grasim Industries Ltd. | 0.75% | 0.78% | +0.03% |
| Infosys Ltd. | 1.14% | 1.11% | -0.03% |
| Union Bank of India | 0.44% | 0.47% | +0.03% |
| Embassy Office Parks REIT | 0.87% | 0.84% | -0.03% |
| GAIL (India) Ltd. | 0.47% | 0.44% | -0.03% |
| Tata Motors Ltd. | 0.56% | 0.58% | +0.02% |
| Persistent Systems Ltd. | 1.10% | 1.08% | -0.02% |
| Shriram Finance Ltd | 0.77% | 0.79% | +0.02% |
| LG Balakrishnan & Bros Ltd. | 0.51% | 0.53% | +0.02% |
| SPR Auto Technologies Ltd. | 1.34% | 1.36% | +0.02% |
| Godrej Industries Ltd. | 0.71% | 0.69% | -0.02% |
| Nexus Select Trust | 0.69% | 0.67% | -0.02% |
| Others | 0.06% | 0.04% | -0.02% |
| S.P. Apparels Ltd. | 0.76% | 0.78% | +0.02% |
| Bharat Electronics Ltd. | 0.50% | 0.52% | +0.02% |
| Maharashtra State | 0.42% | 0.40% | -0.02% |
| TVS Motor Company Ltd. | 0.64% | 0.63% | -0.01% |
| Kotak Mahindra Investments Ltd. | 0.42% | 0.41% | -0.01% |
| Kirloskar Brothers Ltd. | 0.59% | 0.58% | -0.01% |
| Nippon Life India Asset Management Ltd. | 0.63% | 0.62% | -0.01% |
| Sundaram Finance Ltd. | 0.21% | 0.20% | -0.01% |
| Larsen & Toubro Ltd. | 1.04% | 1.03% | -0.01% |
| Hindalco Industries Ltd. | 0.55% | 0.56% | +0.01% |
| Oil India Ltd. | 0.56% | 0.57% | +0.01% |
| Raajmarg Infra Investment Trust | 0.56% | 0.56% | +0.01% |
| Kajaria Ceramics Ltd. | 0.52% | 0.52% | 0.00% |
| L&T Finance Ltd. | 0.80% | 0.80% | 0.00% |
| State Bank of India | 1.76% | 1.76% | 0.00% |
| Hindustan Aeronautics Ltd. | 0.69% | 0.69% | 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 | ₹7,364 Cr | 1.57% | 5.8% | 12.6% | 15.3% |
 Nippon India Multi Asset Allocation Fund | ₹17,984 Cr | 1.44% | 4.8% | 13.1% | 15.3% |
 WhiteOak Capital Multi Asset Allocation Fund | ₹8,778 Cr | 1.67% | 7.4% | 13.0% | — |
 Quant Multi Asset Allocation Fund | ₹6,528 Cr | 2.32% | 6.8% | 14.1% | 17.4% |
| Nippon India Multi - Asset Omni FoF | ₹3,056 Cr | 1.08% | 4.0% | 10.9% | 14.7% |
 Aditya Birla Sun Life Multi-Asset Omni FoF | ₹478 Cr | 1.33% | 6.0% | 11.8% | 13.8% |
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 months5.48% absolute | ₹60,000 | ₹63,288 | 5.48% | |
| 1 year9.68% annualised | ₹1,20,000 | ₹1,26,482 | 5.40% |
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 ₹13.72 as on 24 Sep 2026.
What is the expense ratio of Mahindra Manulife Multi Asset Allocation Fund?
The expense ratio of Mahindra Manulife Multi Asset Allocation Fund is 1.91% 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 ₹34,805 Cr under management.