Mahindra Manulife Small Cap Fund
- NAV as on 25 Sep 2026
- ₹22.59+0.18%1 day
- Return since launch
- 23.9%
- 52-week range
- ₹16.98 — ₹23.13
- AUM
- ₹5,468 Cr
Mahindra Manulife Small Cap Fund is a Small Cap equity fund from Mahindra Manulife Mutual Fund with ₹5,468 Cr under management, launched in 2022. Over three years it has returned 14.7% a year, against 15.5% for its category. The expense ratio is 2.24% and the SEBI riskometer reading is Very High.
Performance
Mahindra Manulife Small Cap Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +18.9% against +13.7% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 29.0% | +14.7 pts | 14.3% | 22.6% |
| 2Y | 16.9% | +3.8 pts | 13.0% | 12.7% |
| 3Y | 14.7% | −0.8 pts | 15.5% | 11.6% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -1.0% | −0.4 pts | -0.7% | -1.1% |
| 3M | 7.2% | +1.9 pts | 5.3% | 4.8% |
| 6M | 29.0% | +1.7 pts | 27.3% | 25.9% |
| 1Y | 18.9% | +4.6 pts | 14.3% | 13.9% |
| 2Y | 2.9% | +0.4 pts | 2.5% | 2.2% |
| 3Y | 19.2% | +3.7 pts | 15.5% | 14.6% |
Since launch (21 Nov 2022): 23.9%
Calendar-year returns
Category averageShow as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | -2.7% | +0.6 pts | -3.3% |
| 2024 | 27.7% | −0.5 pts | 28.2% |
| 2023 | 57.2% | +14.3 pts | 42.8% |
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
2.20%
Expense ratio as on 25 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.59%
- Brokerage
- 0.12%
- Transaction charges
- 0.01%
- Statutory levies
- 0.48%
- 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
- BSE 250 SmallCap 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.
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 | 5.77 | 8.10 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.88 | 0.91 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.74 | 0.84 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 1.08 | 1.21 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 19.67 | 20.42 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
Mahindra Manulife Small Cap Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity96.1%
- Other3.9%
Market cap split
- Large10.8%
- Mid23.2%
- Small66.0%
- P/E
- 27.83
- P/B
- 3.83
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Multi Commodity Exchange Of India Ltd. | Services | 5.75% | ₹315 Cr | +0.56% | +1.68% | +2.51% |
| Neuland Laboratories Ltd. | Healthcare | 4.35% | ₹238 Cr | +2.56% | +2.07% | +1.49% |
| Others | Others | 3.94% | ₹215 Cr | +0.12% | +2.85% | +0.66% |
| Divi's Laboratories Ltd. | Healthcare | 3.71% | ₹203 Cr | +1.96% | +2.12% | +1.16% |
| Jindal Saw Ltd. | Metals & Mining | 3.48% | ₹190 Cr | +3.02% | +2.28% | — |
| Garware Hi-Tech Films Ltd. | Materials | 2.91% | ₹159 Cr | +2.14% | +0.54% | — |
| Oil India Ltd. | Energy | 2.57% | ₹140 Cr | — | +1.19% | — |
| Voltamp Transformers Ltd. | Capital Goods | 2.51% | ₹137 Cr | +2.15% | +2.09% | +1.54% |
| Arvind Ltd. | Textiles | 2.39% | ₹131 Cr | +2.65% | +1.70% | +1.71% |
| Usha Martin Ltd. | Metals & Mining | 2.05% | ₹112 Cr | +2.35% | +2.25% | +1.47% |
| Vodafone Idea Ltd. | Communication | 1.94% | ₹106 Cr | +2.25% | +1.83% | — |
| Supreme Petrochem Ltd. | Materials | 1.93% | ₹105 Cr | +2.09% | +2.27% | +1.91% |
| Ather Energy Ltd. | Automobile | 1.89% | ₹103 Cr | — | — | — |
| Adani Enterprises Ltd. | Services | 1.83% | ₹99.88 Cr | — | — | — |
| Coforge Ltd. | Technology | 1.74% | ₹95.29 Cr | +2.04% | — | — |
| Anthem Biosciences Ltd. | Healthcare | 1.63% | ₹89.09 Cr | +1.27% | +1.25% | — |
| Ujjivan Small Finance Bank Ltd. | Financial | 1.59% | ₹87.02 Cr | +1.97% | +2.36% | +0.76% |
| SPR Auto Technologies Ltd. | Automobile | 1.59% | ₹86.98 Cr | +1.88% | +1.94% | +1.07% |
| Sona BLW Precision Forgings Ltd. | Automobile | 1.56% | ₹85.57 Cr | +1.11% | — | — |
| Karur Vysya Bank Ltd. | Financial | 1.55% | ₹84.62 Cr | +1.53% | +1.63% | +1.09% |
| ZF Commercial Vehicle Control Systems India Ltd. | Automobile | 1.53% | ₹83.82 Cr | +1.81% | +2.11% | +1.51% |
| NOCIL Ltd. | Materials | 1.51% | ₹82.75 Cr | +1.73% | — | — |
| Asahi India Glass Ltd. | Materials | 1.39% | ₹76.22 Cr | +1.61% | +0.82% | +0.82% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 1.31% | ₹71.80 Cr | +1.43% | +2.73% | +1.98% |
| DCB Bank Ltd. | Financial | 1.31% | ₹71.80 Cr | +1.71% | +1.31% | +1.01% |
| Dixon Technologies (India) Ltd. | Capital Goods | 1.30% | ₹71.28 Cr | +1.20% | — | — |
| Nitin Spinners Ltd. | Textiles | 1.28% | ₹70.19 Cr | +1.17% | +1.02% | +0.87% |
| Adani Energy Solutions Ltd. | Energy | 1.21% | ₹66.42 Cr | — | — | — |
| Ajanta Pharma Ltd. | Healthcare | 1.18% | ₹64.53 Cr | +1.14% | +1.22% | — |
| The Ramco Cements Ltd. | Materials | 1.13% | ₹61.63 Cr | +2.28% | +2.47% | +1.74% |
| Sagility Ltd. | Services | 1.12% | ₹61.26 Cr | +1.16% | +1.26% | — |
| Glaxosmithkline Pharmaceuticals Ltd. | Healthcare | 1.12% | ₹61.13 Cr | +0.35% | +1.15% | +1.28% |
| company:6416 | Financial | 1.06% | ₹57.81 Cr | — | — | — |
| ideaForge Technology Ltd. | Capital Goods | 1.04% | ₹56.71 Cr | +0.67% | — | — |
| Kirloskar Brothers Ltd. | Capital Goods | 1.03% | ₹56.17 Cr | +1.05% | +1.15% | +1.44% |
| Manappuram Finance Ltd. | Financial | 1.03% | ₹56.12 Cr | +2.20% | +1.88% | +2.12% |
| Tilaknagar Industries Ltd. | Consumer Staples | 1.03% | ₹56.07 Cr | +0.99% | +1.11% | — |
| Mold-Tek Packaging Ltd. | Materials | 1.00% | ₹54.93 Cr | +1.11% | — | — |
| Ganesha Ecosphere Ltd. | Textiles | 0.99% | ₹54.10 Cr | — | — | — |
| DOMS Industries Ltd. | Consumer Staples | 0.99% | ₹53.90 Cr | +1.17% | +0.79% | +1.60% |
| Acutaas Chemicals Ltd. | Healthcare | 0.97% | ₹52.90 Cr | +1.14% | +1.28% | — |
| Stove Kraft Ltd. | Consumer Discretionary | 0.93% | ₹50.76 Cr | +0.95% | +0.96% | +1.11% |
| Gokaldas Exports Ltd. | Textiles | 0.88% | ₹48.26 Cr | +0.93% | +0.97% | +0.56% |
| Laurus Labs Ltd. | Healthcare | 0.88% | ₹48.16 Cr | +1.94% | +1.73% | +2.05% |
| GE Vernova T&D India Ltd | Capital Goods | 0.88% | ₹48.05 Cr | +1.21% | +1.25% | — |
| Mahindra Logistics Ltd. | Services | 0.88% | ₹47.86 Cr | +0.91% | +0.91% | — |
| Welspun Corp Ltd. | Metals & Mining | 0.87% | ₹47.82 Cr | +1.20% | +1.74% | +1.65% |
| Adani Green Energy Ltd. | Capital Goods | 0.84% | ₹46.17 Cr | — | — | — |
| NBCC (India) Ltd. | Construction | 0.83% | ₹45.51 Cr | — | — | — |
| Ratnamani Metals & Tubes Ltd. | Metals & Mining | 0.83% | ₹45.16 Cr | +0.95% | +0.59% | — |
| Titagarh Rail Systems Ltd. | Automobile | 0.82% | ₹45.09 Cr | — | — | — |
| Bajaj Auto Ltd. | Automobile | 0.77% | ₹42.07 Cr | +0.91% | +0.98% | +1.73% |
| Blue Star Ltd. | Consumer Discretionary | 0.76% | ₹41.67 Cr | +0.99% | — | — |
| Gabriel India Ltd. | Automobile | 0.75% | ₹41.25 Cr | — | — | — |
| Aditya Birla Real Estate Ltd | Consumer Staples | 0.75% | ₹41.19 Cr | +0.60% | +0.70% | +1.84% |
| LG Balakrishnan & Bros Ltd. | Automobile | 0.75% | ₹41.06 Cr | +0.80% | +0.98% | — |
| Bandhan Bank Ltd. | Financial | 0.75% | ₹40.88 Cr | +1.13% | — | — |
| Aarti Industries Ltd. | Chemicals | 0.75% | ₹40.74 Cr | +0.60% | — | — |
| Kilburn Engineering Ltd. | Capital Goods | 0.74% | ₹40.71 Cr | +1.00% | +1.18% | +1.05% |
| P N Gadgil Jewellers Ltd. | Consumer Discretionary | 0.73% | ₹39.83 Cr | +1.11% | +1.27% | +1.35% |
| Kalyan Jewellers India Ltd. | Consumer Discretionary | 0.66% | ₹36.06 Cr | — | — | — |
| Arvind Fashions Ltd. | Textiles | 0.65% | ₹35.79 Cr | +0.79% | +1.49% | +1.78% |
| Sun TV Network Ltd. | Services | 0.58% | ₹31.71 Cr | +0.74% | +0.97% | +0.90% |
| Kajaria Ceramics Ltd. | Materials | 0.55% | ₹30.25 Cr | +0.60% | +0.60% | +0.61% |
| company:1151 | Chemicals | 0.52% | ₹28.36 Cr | — | — | — |
| Globus Spirits Ltd. | Consumer Staples | 0.52% | ₹28.20 Cr | +0.96% | +1.11% | +1.31% |
| Oswal Pumps Ltd. | Capital Goods | 0.51% | ₹27.70 Cr | +0.75% | +0.73% | +2.85% |
| Bank of Maharashtra | Financial | 0.49% | ₹26.97 Cr | +0.88% | +1.21% | — |
| company:20823 | Healthcare | 0.46% | ₹25.00 Cr | — | — | — |
| Krishna Institute of Medical Sciences Ltd | Healthcare | 0.45% | ₹24.83 Cr | +0.54% | — | — |
| Cholamandalam Financial Holdings Ltd. | Financial | 0.44% | ₹23.91 Cr | +0.89% | — | — |
| Lumax Auto Technologies Ltd. | Automobile | 0.44% | ₹23.89 Cr | +0.77% | — | — |
| company:457 | Consumer Discretionary | 0.44% | ₹23.88 Cr | — | — | — |
| Mrs. Bectors Food Specialities Ltd. | Consumer Staples | 0.43% | ₹23.67 Cr | +0.75% | +1.03% | +1.22% |
| company:17832 | Capital Goods | 0.37% | ₹20.01 Cr | — | — | — |
| JSW Energy Ltd. | Capital Goods | 0.36% | ₹19.63 Cr | +0.99% | +1.80% | +1.68% |
| Navin Fluorine International Ltd. | Chemicals | 0.34% | ₹18.38 Cr | +0.33% | +0.33% | — |
| Fedbank Financial Services Ltd. | Financial | 0.28% | ₹15.35 Cr | +0.18% | — | — |
| AGI Greenpac Ltd. | Materials | 0.25% | ₹13.56 Cr | +0.26% | +0.90% | +1.65% |
| Jamna Auto Industries Ltd. | Automobile | 0.22% | ₹12.17 Cr | +1.25% | — | — |
| LMW Ltd. | Capital Goods | 0.10% | ₹5.61 Cr | +0.10% | +0.11% | +0.10% |
| CreditAccess Grameen Ltd. | Financial | 0.09% | ₹4.99 Cr | +0.79% | +1.96% | +1.59% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Multi Commodity Exchange Of India Ltd. | 3.84% | 5.75% | +1.91% |
| Manappuram Finance Ltd. | 2.45% | 1.03% | -1.42% |
| Divi's Laboratories Ltd. | 2.40% | 3.71% | +1.31% |
| company:6416 | 0.00% | 1.06% | +1.06% |
| Ather Energy Ltd. | 1.12% | 1.89% | +0.77% |
| Jindal Saw Ltd. | 2.83% | 3.48% | +0.65% |
| Dalmia Bharat Ltd. | 0.54% | 0.00% | -0.54% |
| Glaxosmithkline Pharmaceuticals Ltd. | 0.59% | 1.12% | +0.53% |
| company:1151 | 0.00% | 0.52% | +0.52% |
| Aditya Birla Real Estate Ltd | 1.27% | 0.75% | -0.52% |
| Coforge Ltd. | 2.23% | 1.74% | -0.49% |
| Neuland Laboratories Ltd. | 3.87% | 4.35% | +0.48% |
| company:20823 | 0.00% | 0.46% | +0.46% |
| company:457 | 0.00% | 0.44% | +0.44% |
| Welspun Corp Ltd. | 1.30% | 0.87% | -0.43% |
| CreditAccess Grameen Ltd. | 0.46% | 0.09% | -0.37% |
| company:17832 | 0.00% | 0.37% | +0.37% |
| Globus Spirits Ltd. | 0.88% | 0.52% | -0.36% |
| DCB Bank Ltd. | 1.64% | 1.31% | -0.33% |
| Arvind Ltd. | 2.08% | 2.39% | +0.31% |
| Adani Energy Solutions Ltd. | 1.52% | 1.21% | -0.31% |
| Voltamp Transformers Ltd. | 2.22% | 2.51% | +0.29% |
| Adani Enterprises Ltd. | 2.07% | 1.83% | -0.24% |
| Ganesha Ecosphere Ltd. | 1.23% | 0.99% | -0.24% |
| Lumax Auto Technologies Ltd. | 0.63% | 0.44% | -0.19% |
| ideaForge Technology Ltd. | 1.23% | 1.04% | -0.19% |
| Ujjivan Small Finance Bank Ltd. | 1.78% | 1.59% | -0.19% |
| Adani Green Energy Ltd. | 1.03% | 0.84% | -0.19% |
| Blue Star Ltd. | 0.94% | 0.76% | -0.18% |
| P N Gadgil Jewellers Ltd. | 0.90% | 0.73% | -0.17% |
| NBCC (India) Ltd. | 0.98% | 0.83% | -0.15% |
| The Ramco Cements Ltd. | 1.27% | 1.13% | -0.14% |
| Usha Martin Ltd. | 2.19% | 2.05% | -0.14% |
| Stove Kraft Ltd. | 1.06% | 0.93% | -0.13% |
| Bank of Maharashtra | 0.37% | 0.49% | +0.12% |
| Tilaknagar Industries Ltd. | 0.91% | 1.03% | +0.12% |
| Nitin Spinners Ltd. | 1.17% | 1.28% | +0.11% |
| Bandhan Bank Ltd. | 0.86% | 0.75% | -0.11% |
| Gokaldas Exports Ltd. | 0.99% | 0.88% | -0.11% |
| Mahindra Logistics Ltd. | 0.98% | 0.88% | -0.10% |
| Supreme Petrochem Ltd. | 2.03% | 1.93% | -0.10% |
| Oswal Pumps Ltd. | 0.61% | 0.51% | -0.10% |
| Sun TV Network Ltd. | 0.68% | 0.58% | -0.10% |
| Karur Vysya Bank Ltd. | 1.64% | 1.55% | -0.09% |
| DOMS Industries Ltd. | 1.07% | 0.99% | -0.08% |
| Krishna Institute of Medical Sciences Ltd | 0.52% | 0.45% | -0.07% |
| Kilburn Engineering Ltd. | 0.81% | 0.74% | -0.07% |
| Titagarh Rail Systems Ltd. | 0.89% | 0.82% | -0.07% |
| Kirloskar Brothers Ltd. | 1.09% | 1.03% | -0.06% |
| Kalyan Jewellers India Ltd. | 0.72% | 0.66% | -0.06% |
| Garware Hi-Tech Films Ltd. | 2.85% | 2.91% | +0.06% |
| Cholamandalam Financial Holdings Ltd. | 0.49% | 0.44% | -0.05% |
| Acutaas Chemicals Ltd. | 1.02% | 0.97% | -0.05% |
| JSW Energy Ltd. | 0.41% | 0.36% | -0.05% |
| Vodafone Idea Ltd. | 1.89% | 1.94% | +0.05% |
| NOCIL Ltd. | 1.56% | 1.51% | -0.05% |
| Arvind Fashions Ltd. | 0.70% | 0.65% | -0.05% |
| Glenmark Pharmaceuticals Ltd. | 1.27% | 1.31% | +0.04% |
| GE Vernova T&D India Ltd | 0.92% | 0.88% | -0.04% |
| Ajanta Pharma Ltd. | 1.22% | 1.18% | -0.04% |
| Anthem Biosciences Ltd. | 1.59% | 1.63% | +0.04% |
| SPR Auto Technologies Ltd. | 1.63% | 1.59% | -0.04% |
| Jamna Auto Industries Ltd. | 0.26% | 0.22% | -0.04% |
| Oil India Ltd. | 2.53% | 2.57% | +0.04% |
| ZF Commercial Vehicle Control Systems India Ltd. | 1.57% | 1.53% | -0.04% |
| Ratnamani Metals & Tubes Ltd. | 0.79% | 0.83% | +0.04% |
| Dixon Technologies (India) Ltd. | 1.33% | 1.30% | -0.03% |
| Sona BLW Precision Forgings Ltd. | 1.59% | 1.56% | -0.03% |
| Others | 0.04% | 0.02% | -0.02% |
| Bajaj Auto Ltd. | 0.79% | 0.77% | -0.02% |
| Fedbank Financial Services Ltd. | 0.30% | 0.28% | -0.02% |
| Laurus Labs Ltd. | 0.90% | 0.88% | -0.02% |
| Kajaria Ceramics Ltd. | 0.57% | 0.55% | -0.02% |
| Navin Fluorine International Ltd. | 0.32% | 0.34% | +0.02% |
| Mold-Tek Packaging Ltd. | 1.02% | 1.00% | -0.02% |
| Gabriel India Ltd. | 0.74% | 0.75% | +0.01% |
| Asahi India Glass Ltd. | 1.38% | 1.39% | +0.01% |
| Mrs. Bectors Food Specialities Ltd. | 0.42% | 0.43% | +0.01% |
| LMW Ltd. | 0.09% | 0.10% | +0.01% |
| Sagility Ltd. | 1.11% | 1.12% | +0.01% |
| LG Balakrishnan & Bros Ltd. | 0.76% | 0.75% | -0.01% |
| AGI Greenpac Ltd. | 0.24% | 0.25% | +0.01% |
| Aarti Industries Ltd. | 0.75% | 0.75% | 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 | ₹14,208 Cr | 1.98% | 31.8% | 17.3% | 21.5% |
| ₹34,176 Cr | 1.72% | 21.1% | 15.6% | 22.0% | |
| ₹15,744 Cr | 1.83% | 24.4% | 15.9% | 20.4% | |
| ₹3,603 Cr | 2.22% | 34.9% | 18.0% | 22.1% | |
| ₹3,307 Cr | 2.17% | 46.7% | 19.8% | 21.3% |
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 by investing in a diversified portfolio of equity & equity related securities of small cap companies.
Fund managers
- 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.
- 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 months29.04% absolute | ₹60,000 | ₹77,424 | 29.04% | |
| 1 year18.89% annualised | ₹1,20,000 | ₹1,33,016 | 10.85% | |
| 3 years19.24% annualised | ₹3,60,000 | ₹4,89,793 | 36.05% |
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.