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Mahindra Manulife Small Cap Fund

Small CapVery HighOPEN-ENDED
Invest Now
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

Returns

How the fund has done against its category and its benchmark.

Trailing returns
PeriodFundvs categoryCategoryBenchmark
1Y29.0%+14.7 pts14.3%22.6%
2Y16.9%+3.8 pts13.0%12.7%
3Y14.7%−0.8 pts15.5%11.6%

Fund against category

1Y
Fund29.0%
Category14.3%
3Y
Fund14.7%
Category15.5%

Since launch (21 Nov 2022): 23.9%

Calendar-year returns

Category average
Show as a table
Calendar-year returns
PeriodFundvs categoryCategory
2025-2.7%+0.6 pts-3.3%
202427.7%−0.5 pts28.2%
202357.2%+14.3 pts42.8%

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.

Very High

Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.

Risk ratios
RatioFundCategory avgRead as
Alpha5.778.10Return earned above what the benchmark alone would have given. Higher is better.
Beta0.880.91How hard the fund moves when the market moves. Under 1 is steadier than the market.
Sharpe0.740.84Return earned for each unit of total risk taken. Higher is better.
Sortino1.081.21Return earned for each unit of downside risk. Higher is better.
Std. deviation19.6720.42How 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

HoldingSectorWeightValue3M chg6M chg1Y chg
Multi Commodity Exchange Of India Ltd.Services5.75%₹315 Cr+0.56%+1.68%+2.51%
Neuland Laboratories Ltd.Healthcare4.35%₹238 Cr+2.56%+2.07%+1.49%
OthersOthers3.94%₹215 Cr+0.12%+2.85%+0.66%
Divi's Laboratories Ltd.Healthcare3.71%₹203 Cr+1.96%+2.12%+1.16%
Jindal Saw Ltd.Metals & Mining3.48%₹190 Cr+3.02%+2.28%—
Garware Hi-Tech Films Ltd.Materials2.91%₹159 Cr+2.14%+0.54%—
Oil India Ltd.Energy2.57%₹140 Cr—+1.19%—
Voltamp Transformers Ltd.Capital Goods2.51%₹137 Cr+2.15%+2.09%+1.54%
Arvind Ltd.Textiles2.39%₹131 Cr+2.65%+1.70%+1.71%
Usha Martin Ltd.Metals & Mining2.05%₹112 Cr+2.35%+2.25%+1.47%

Sectors

  • Healthcare16.1%
  • Materials10.7%
  • Automobile10.3%
  • Services10.2%
  • Capital Goods9.7%
  • Financial8.6%
  • Metals & Mining7.2%
  • Textiles6.2%

Instruments

  • Repo3.5%
  • Net Receivables0.4%
  • Cash Margin0.0%

Recent changes

HoldingFromToWeight
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:64160.00%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:11510.00%0.52%+0.52%
Aditya Birla Real Estate Ltd1.27%0.75%-0.52%
Coforge Ltd.2.23%1.74%-0.49%
Neuland Laboratories Ltd.3.87%4.35%+0.48%
company:208230.00%0.46%+0.46%
company:4570.00%0.44%+0.44%
Welspun Corp Ltd.1.30%0.87%-0.43%
CreditAccess Grameen Ltd.0.46%0.09%-0.37%
company:178320.00%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 Maharashtra0.37%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 Ltd0.52%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 Ltd0.92%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%
Others0.04%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.

FundAUMExpense1Y3Y5Y
Category average₹14,208 Cr1.98%31.8%17.3%21.5%
Bandhan Small Cap Fund₹34,176 Cr1.72%21.1%15.6%22.0%
Invesco India Small Cap Fund₹15,744 Cr1.83%24.4%15.9%20.4%
ITI Small Cap Fund₹3,603 Cr2.22%34.9%18.0%22.1%
Bank of India Small Cap Fund₹3,307 Cr2.17%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
Scheme information document

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 pastTotal investmentWould’ve becomeGrowthReturns
6 months29.04% absolute₹60,000₹77,42429.04%
1 year18.89% annualised₹1,20,000₹1,33,01610.85%
3 years19.24% annualised₹3,60,000₹4,89,79336.05%

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.

What is the NAV of Mahindra Manulife Small Cap Fund?
The NAV of Mahindra Manulife Small Cap Fund is ₹22.59 as on 25 Sep 2026.
What is the expense ratio of Mahindra Manulife Small Cap Fund?
The expense ratio of Mahindra Manulife Small Cap Fund is 2.24% per year.
What is the minimum SIP amount for Mahindra Manulife Small Cap Fund?
You can start a SIP in Mahindra Manulife Small Cap Fund with ₹3,000 a month.
Is there a lock-in or exit load on Mahindra Manulife Small Cap Fund?
Lock-in: None. Exit load: Exit load of 1% if redeemed within 3 months.
How risky is Mahindra Manulife Small Cap Fund?
Mahindra Manulife Small Cap Fund is rated Very High on the SEBI riskometer and belongs to the Small Cap category.
Which fund house manages Mahindra Manulife Small Cap Fund?
Mahindra Manulife Small Cap Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹34,805 Cr under management.