Mahindra Manulife Multi Cap Fund
Multi CapVery HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹39.60+1.20%1 day
- Return since launch
- 15.5%
- 52-week range
- ₹32.13 — ₹40.54
- AUM
- ₹7,457 Cr
Mahindra Manulife Multi Cap Fund is a Multi Cap equity fund from Mahindra Manulife Mutual Fund with ₹7,457 Cr under management, launched in 2017. Over three years it has returned 10.7% a year, against 13.7% for its category. The expense ratio is 2.18% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Multi Cap 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 +0.2% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 15.0% | +10.5 pts | 4.6% | 7.5% |
| 2Y | 11.8% | +4.7 pts | 7.1% | 4.7% |
| 3Y | 10.7% | −2.9 pts | 13.7% | 5.3% |
| 5Y | 14.9% | +3.5 pts | 11.4% | 11.0% |
| 7Y | 18.1% | +2.6 pts | 15.5% | 14.1% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 5.0% | +0.4 pts | 4.6% | 5.1% |
| 3M | 0.5% | +1.4 pts | -0.9% | -0.7% |
| 6M | 7.8% | +2.0 pts | 5.8% | 5.1% |
| 1Y | 9.6% | +5.0 pts | 4.6% | 0.4% |
| 2Y | 7.3% | +3.6 pts | 3.7% | 1.5% |
| 3Y | 16.2% | +2.5 pts | 13.7% | 11.7% |
| 5Y | 12.8% | +1.3 pts | 11.4% | 10.4% |
| 7Y | 19.4% | +2.7 pts | 16.6% | 14.8% |
Since launch (20 Apr 2017): 15.5%
Calendar-year returns
Category average16.6%
50.8%
1.6%
34.2%
23.2%
3.4%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 3.4% | −0.2 pts | 3.6% |
| 2024 | 23.2% | −1.8 pts | 25.0% |
| 2023 | 34.2% | −0.3 pts | 34.5% |
| 2022 | 1.6% | −3.9 pts | 5.5% |
| 2021 | 50.8% | +6.6 pts | 44.2% |
| 2020 | 16.6% | +0.2 pts | 16.4% |
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
2.18%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.53%
- Brokerage
- 0.13%
- Transaction charges
- 0.01%
- Statutory levies
- 0.51%
- 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 500 Multicap 50:25:25 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 | 5.49 | 6.83 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.96 | 0.95 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.55 | 0.64 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.78 | 0.87 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 16.99 | 16.65 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
Mahindra Manulife Multi Cap Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity92.8%
- Debt0.8%
- Other6.5%
Market cap split
- Large41.5%
- Mid32.4%
- Small26.1%
- P/E
- 23.99
- P/B
- 3.50
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Others | Others | 6.58% | ₹491 Cr | +0.12% | +11.31% | +0.93% |
| Divi's Laboratories Ltd. | Healthcare | 5.01% | ₹374 Cr | +2.71% | +2.99% | +3.03% |
| Multi Commodity Exchange Of India Ltd. | Services | 4.21% | ₹314 Cr | — | +0.97% | — |
| ICICI Bank Ltd. | Financial | 3.26% | ₹243 Cr | +3.65% | +1.82% | +3.31% |
| HDFC Bank Ltd. | Financial | 2.85% | ₹213 Cr | — | — | +1.96% |
| Adani Enterprises Ltd. | Services | 2.79% | ₹208 Cr | +3.13% | — | — |
| Neuland Laboratories Ltd. | Healthcare | 2.73% | ₹204 Cr | +3.25% | +1.57% | +0.92% |
| Oil India Ltd. | Energy | 2.47% | ₹184 Cr | — | — | — |
| Torrent Pharmaceuticals Ltd. | Healthcare | 2.35% | ₹175 Cr | — | — | — |
| APL Apollo Tubes Ltd. | Metals & Mining | 2.16% | ₹161 Cr | +2.38% | +2.22% | — |
| PTC Industries Ltd. | Metals & Mining | 2.15% | ₹160 Cr | +1.79% | +1.65% | +1.95% |
| Avenue Supermarts Ltd. | Services | 2.02% | ₹151 Cr | +2.09% | — | — |
| Hindustan Zinc Ltd. | Metals & Mining | 1.94% | ₹144 Cr | — | — | — |
| Voltamp Transformers Ltd. | Capital Goods | 1.90% | ₹142 Cr | +1.52% | +1.55% | +0.42% |
| Jindal Saw Ltd. | Metals & Mining | 1.87% | ₹140 Cr | +1.42% | +1.22% | — |
| Ultratech Cement Ltd. | Materials | 1.84% | ₹137 Cr | +2.03% | +2.37% | +2.67% |
| State Bank of India | Financial | 1.79% | ₹133 Cr | +1.71% | +0.95% | +1.99% |
| Oracle Financial Services Software Ltd. | Technology | 1.71% | ₹128 Cr | +1.24% | +0.95% | +1.18% |
| P N Gadgil Jewellers Ltd. | Consumer Discretionary | 1.58% | ₹118 Cr | +0.78% | +0.78% | — |
| Adani Energy Solutions Ltd. | Energy | 1.57% | ₹117 Cr | +0.88% | — | — |
| Alkem Laboratories Ltd. | Healthcare | 1.55% | ₹115 Cr | — | — | — |
| Sun TV Network Ltd. | Services | 1.52% | ₹113 Cr | +0.74% | +0.99% | — |
| Bajaj Auto Ltd. | Automobile | 1.43% | ₹107 Cr | +1.59% | +1.75% | +1.49% |
| Bandhan Bank Ltd. | Financial | 1.42% | ₹106 Cr | +1.75% | +1.03% | — |
| Aarti Industries Ltd. | Chemicals | 1.38% | ₹103 Cr | +1.43% | +1.00% | +0.70% |
| Vodafone Idea Ltd. | Communication | 1.33% | ₹99.07 Cr | +1.53% | +0.93% | — |
| Supreme Industries Ltd. | Materials | 1.30% | ₹96.58 Cr | +0.79% | +1.05% | — |
| Manappuram Finance Ltd. | Financial | 1.28% | ₹95.65 Cr | +1.43% | +1.36% | — |
| Radico Khaitan Ltd. | Consumer Staples | 1.25% | ₹93.14 Cr | +1.22% | — | — |
| Mphasis Ltd. | Technology | 1.22% | ₹91.19 Cr | +1.65% | +1.27% | +1.83% |
| Maruti Suzuki India Ltd. | Automobile | 1.17% | ₹87.60 Cr | +1.49% | +1.59% | +1.84% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 1.16% | ₹86.85 Cr | +1.18% | +3.72% | +3.38% |
| Max Healthcare Institute Ltd. | Healthcare | 1.08% | ₹80.78 Cr | +1.42% | +1.48% | — |
| Godfrey Phillips India Ltd. | Consumer Staples | 1.08% | ₹80.18 Cr | +0.94% | — | — |
| Kajaria Ceramics Ltd. | Materials | 1.05% | ₹78.41 Cr | +1.07% | +1.08% | +1.36% |
| Ujjivan Small Finance Bank Ltd. | Financial | 1.05% | ₹77.99 Cr | +1.13% | +1.18% | — |
| One 97 Communications Ltd. | Services | 1.03% | ₹76.66 Cr | — | — | — |
| Indusind Bank Ltd. | Financial | 1.02% | ₹75.96 Cr | +0.87% | +0.86% | +1.61% |
| Larsen & Toubro Ltd. | Construction | 1.01% | ₹75.29 Cr | +3.15% | +3.26% | — |
| Vedanta Aluminium Metal Ltd. | Metals & Mining | 1.00% | ₹74.32 Cr | +1.17% | — | — |
| Lenskart Solutions Ltd. | Consumer Discretionary | 0.99% | ₹73.99 Cr | — | — | — |
| Motilal Oswal Financial Services Ltd. | Financial | 0.99% | ₹73.64 Cr | — | — | — |
| Eternal Ltd. | Services | 0.99% | ₹73.49 Cr | +0.98% | +2.05% | — |
| Laurus Labs Ltd. | Healthcare | 0.98% | ₹73.26 Cr | +2.19% | +1.93% | +2.95% |
| Astral Ltd. | Materials | 0.94% | ₹70.19 Cr | +0.70% | +1.02% | — |
| Nippon Life India Asset Management Ltd. | Financial | 0.92% | ₹68.26 Cr | +2.64% | +0.59% | +0.74% |
| The Ramco Cements Ltd. | Materials | 0.91% | ₹67.71 Cr | +1.08% | +1.30% | — |
| Anthem Biosciences Ltd. | Healthcare | 0.88% | ₹65.89 Cr | +0.85% | — | — |
| Sai Life Sciences Ltd. | Healthcare | 0.88% | ₹65.48 Cr | +0.77% | +1.42% | +1.61% |
| PB Fintech Ltd. | Services | 0.87% | ₹65.01 Cr | +1.44% | +1.15% | — |
| JSW Steel Ltd. | Metals & Mining | 0.82% | ₹61.29 Cr | +0.87% | +0.39% | +1.43% |
| Tech Mahindra Ltd. | Technology | 0.82% | ₹60.96 Cr | +0.81% | +0.49% | — |
| Reliance Industries Ltd. | Energy | 0.80% | ₹59.35 Cr | +0.93% | +1.96% | +2.44% |
| Tilaknagar Industries Ltd. | Consumer Staples | 0.78% | ₹58.54 Cr | +0.51% | +0.40% | — |
| NTPC Ltd. | Energy | 0.78% | ₹58.10 Cr | +0.93% | +1.18% | — |
| Max Financial Services Ltd. | Financial | 0.74% | ₹54.94 Cr | +0.91% | — | — |
| Sagility Ltd. | Services | 0.72% | ₹53.67 Cr | +0.72% | +0.89% | — |
| JK Cement Ltd. | Materials | 0.71% | ₹52.58 Cr | +0.81% | +0.93% | +0.92% |
| DCB Bank Ltd. | Financial | 0.70% | ₹52.16 Cr | +0.99% | +0.95% | — |
| Blue Star Ltd. | Consumer Discretionary | 0.69% | ₹51.16 Cr | +0.79% | +0.96% | +1.11% |
| Coal India Ltd. | Materials | 0.68% | ₹51.00 Cr | +0.76% | +0.95% | — |
| Mahindra Manulife Liquid Fund Direct -Growth | Unclassified | 0.67% | ₹50.01 Cr | — | +1.06% | +1.14% |
| Nitin Spinners Ltd. | Textiles | 0.63% | ₹46.79 Cr | +0.65% | +0.47% | +0.45% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 0.61% | ₹45.36 Cr | — | — | — |
| Union Bank of India | Financial | 0.55% | ₹41.04 Cr | +0.60% | +0.70% | — |
| Navin Fluorine International Ltd. | Chemicals | 0.49% | ₹36.28 Cr | +0.49% | +0.48% | +0.36% |
| Interglobe Aviation Ltd. | Services | 0.40% | ₹29.90 Cr | +2.34% | +1.04% | +1.40% |
| Arvind Fashions Ltd. | Textiles | 0.38% | ₹28.21 Cr | +0.50% | +0.58% | +0.75% |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.36% | ₹27.10 Cr | — | — | — |
| Shriram Finance Ltd | Financial | 0.32% | ₹23.58 Cr | +2.12% | +1.23% | — |
| Cholamandalam Financial Holdings Ltd. | Financial | 0.28% | ₹20.52 Cr | +0.79% | +0.80% | +0.99% |
| Oswal Pumps Ltd. | Capital Goods | 0.20% | ₹14.87 Cr | +0.45% | +0.38% | +0.93% |
| Hatsun Agro Product Ltd. | Consumer Staples | 0.19% | ₹13.99 Cr | — | — | — |
| Piramal Finance Ltd. | Financial | 0.16% | ₹11.72 Cr | — | — | +1.40% |
| Gokaldas Exports Ltd. | Textiles | 0.12% | ₹9.14 Cr | +0.82% | +0.66% | +0.49% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| HDFC Bank Ltd. | 0.00% | 2.85% | +2.85% |
| Alkem Laboratories Ltd. | 0.00% | 1.55% | +1.55% |
| Neuland Laboratories Ltd. | 4.00% | 2.73% | -1.27% |
| Divi's Laboratories Ltd. | 3.93% | 5.01% | +1.08% |
| Mahindra & Mahindra Ltd. | 1.07% | 0.00% | -1.07% |
| Lenskart Solutions Ltd. | 0.00% | 0.99% | +0.99% |
| Motilal Oswal Financial Services Ltd. | 0.00% | 0.99% | +0.99% |
| Sun TV Network Ltd. | 0.60% | 1.52% | +0.92% |
| P N Gadgil Jewellers Ltd. | 0.76% | 1.58% | +0.82% |
| Mahindra Manulife Liquid Fund Direct -Growth | 0.00% | 0.67% | +0.67% |
| Multi Commodity Exchange Of India Ltd. | 4.86% | 4.21% | -0.65% |
| PB Fintech Ltd. | 1.50% | 0.87% | -0.62% |
| LTM Limited | 0.61% | 0.00% | -0.61% |
| Gokaldas Exports Ltd. | 0.66% | 0.12% | -0.54% |
| Adani Enterprises Ltd. | 3.23% | 2.79% | -0.44% |
| Eternal Ltd. | 0.58% | 0.99% | +0.40% |
| Interglobe Aviation Ltd. | 0.00% | 0.40% | +0.40% |
| Tega Industries Ltd. | 0.38% | 0.00% | -0.38% |
| APL Apollo Tubes Ltd. | 2.51% | 2.16% | -0.35% |
| Shriram Finance Ltd | 0.00% | 0.32% | +0.32% |
| Manappuram Finance Ltd. | 1.03% | 1.28% | +0.26% |
| Oracle Financial Services Software Ltd. | 1.96% | 1.71% | -0.25% |
| ICICI Bank Ltd. | 3.49% | 3.26% | -0.23% |
| Jindal Saw Ltd. | 1.67% | 1.87% | +0.20% |
| Bandhan Bank Ltd. | 1.26% | 1.42% | +0.15% |
| State Bank of India | 1.92% | 1.79% | -0.13% |
| Bajaj Auto Ltd. | 1.55% | 1.43% | -0.12% |
| Maruti Suzuki India Ltd. | 1.29% | 1.17% | -0.12% |
| Oil India Ltd. | 2.59% | 2.47% | -0.12% |
| Mphasis Ltd. | 1.34% | 1.22% | -0.12% |
| Vodafone Idea Ltd. | 1.43% | 1.33% | -0.10% |
| Aarti Industries Ltd. | 1.48% | 1.38% | -0.10% |
| Kajaria Ceramics Ltd. | 0.95% | 1.05% | +0.10% |
| Indusind Bank Ltd. | 1.12% | 1.02% | -0.10% |
| Max Healthcare Institute Ltd. | 1.18% | 1.08% | -0.10% |
| Vedanta Oil and Gas Ltd | 0.09% | 0.00% | -0.09% |
| Godfrey Phillips India Ltd. | 1.16% | 1.08% | -0.09% |
| Max Financial Services Ltd. | 0.82% | 0.74% | -0.08% |
| Oswal Pumps Ltd. | 0.28% | 0.20% | -0.08% |
| Adani Energy Solutions Ltd. | 1.64% | 1.57% | -0.08% |
| Astral Ltd. | 1.02% | 0.94% | -0.08% |
| PTC Industries Ltd. | 2.08% | 2.15% | +0.06% |
| Torrent Pharmaceuticals Ltd. | 2.41% | 2.35% | -0.06% |
| Nippon Life India Asset Management Ltd. | 0.98% | 0.92% | -0.06% |
| Sai Life Sciences Ltd. | 0.82% | 0.88% | +0.06% |
| Laurus Labs Ltd. | 0.92% | 0.98% | +0.06% |
| Coal India Ltd. | 0.63% | 0.68% | +0.05% |
| Sagility Ltd. | 0.77% | 0.72% | -0.05% |
| Arvind Fashions Ltd. | 0.43% | 0.38% | -0.05% |
| Larsen & Toubro Ltd. | 1.06% | 1.01% | -0.05% |
| Hindustan Zinc Ltd. | 1.98% | 1.94% | -0.05% |
| Blue Star Ltd. | 0.64% | 0.69% | +0.04% |
| Union Bank of India | 0.59% | 0.55% | -0.04% |
| Glenmark Pharmaceuticals Ltd. | 1.20% | 1.16% | -0.04% |
| Sun Pharmaceutical Industries Ltd. | 0.65% | 0.61% | -0.04% |
| Reliance Industries Ltd. | 0.83% | 0.80% | -0.04% |
| Tech Mahindra Ltd. | 0.85% | 0.82% | -0.03% |
| Ultratech Cement Ltd. | 1.87% | 1.84% | -0.03% |
| DCB Bank Ltd. | 0.73% | 0.70% | -0.03% |
| Vedanta Aluminium Metal Ltd. | 1.02% | 1.00% | -0.03% |
| Voltamp Transformers Ltd. | 1.93% | 1.90% | -0.02% |
| Piramal Finance Ltd. | 0.17% | 0.16% | -0.01% |
| Nitin Spinners Ltd. | 0.64% | 0.63% | -0.01% |
| JSW Steel Ltd. | 0.83% | 0.82% | -0.01% |
| Cholamandalam Financial Holdings Ltd. | 0.29% | 0.28% | -0.01% |
| Navin Fluorine International Ltd. | 0.50% | 0.49% | -0.01% |
| The Ramco Cements Ltd. | 0.92% | 0.91% | -0.01% |
| JK Cement Ltd. | 0.69% | 0.71% | +0.01% |
| Anthem Biosciences Ltd. | 0.89% | 0.88% | -0.01% |
| NTPC Ltd. | 0.77% | 0.78% | +0.01% |
| Tilaknagar Industries Ltd. | 0.79% | 0.78% | -0.01% |
| Others | 0.05% | 0.05% | +0.01% |
| Supreme Industries Ltd. | 1.30% | 1.30% | 0.00% |
| One 97 Communications Ltd. | 1.02% | 1.03% | 0.00% |
| Ujjivan Small Finance Bank Ltd. | 1.04% | 1.05% | 0.00% |
| Avenue Supermarts Ltd. | 2.02% | 2.02% | 0.00% |
| Hatsun Agro Product Ltd. | 0.19% | 0.19% | 0.00% |
| Oil And Natural Gas Corporation Ltd. | 0.36% | 0.36% | 0.00% |
| Radico Khaitan Ltd. | 1.25% | 1.25% | 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 | ₹5,097 Cr | 2.20% | 14.4% | 11.1% | — |
 Axis Multicap Fund | ₹12,234 Cr | 1.97% | 19.1% | 12.5% | — |
 WhiteOak Capital Multi Cap Fund | ₹4,610 Cr | 2.21% | 10.6% | 10.4% | — |
 LIC MF Multi Cap Fund | ₹2,187 Cr | 2.15% | 12.8% | 10.2% | — |
 Bank of India Multi Cap Fund | ₹1,357 Cr | 2.45% | 15.1% | 11.3% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to provide medium to long term capital appreciation through appropriate diversification and taking low risk on business quality.
Fund managers
- 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.
- Vishal JajooMr. Jajoo is a Chartered Accountant, PGDM (Finance) and MBA (Investments)Prior to joining Mahindra Manulife AMC, he has worked with ITI Mutual Fund and Tata Investment Corporation 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 months7.78% absolute | ₹60,000 | ₹64,668 | 7.78% | |
| 1 year9.61% annualised | ₹1,20,000 | ₹1,26,434 | 5.36% | |
| 3 years16.18% annualised | ₹3,60,000 | ₹4,65,699 | 29.36% | |
| 5 years12.76% annualised | ₹6,00,000 | ₹8,42,400 | 40.40% |
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 Cap Fund?
The NAV of Mahindra Manulife Multi Cap Fund is ₹39.60 as on 9 Nov 2026.
What is the expense ratio of Mahindra Manulife Multi Cap Fund?
The expense ratio of Mahindra Manulife Multi Cap Fund is 2.18% per year.
What is the minimum SIP amount for Mahindra Manulife Multi Cap Fund?
You can start a SIP in Mahindra Manulife Multi Cap Fund with ₹3,000 a month.
What returns has Mahindra Manulife Multi Cap Fund given?
Mahindra Manulife Multi Cap Fund has returned 15.0% over 1 year, 10.7% over 3 years and 14.9% over 5 years (annualised).
Is there a lock-in or exit load on Mahindra Manulife Multi Cap Fund?
Lock-in: None. Exit load: Exit load of 1% if redeemed within 3 months..
How risky is Mahindra Manulife Multi Cap Fund?
Mahindra Manulife Multi Cap Fund is rated Very High on the SEBI riskometer and belongs to the Multi Cap category.
Which fund house manages Mahindra Manulife Multi Cap Fund?
Mahindra Manulife Multi Cap Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹38,154 Cr under management.