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Mahindra Manulife Ultra Short Term Fund

Ultra Short DurationModerateOPEN-ENDED
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NAV as on 9 Nov 2026
₹1,491.29+0.06%1 day
Return since launch
5.8%
52-week range
₹1,405.29 — ₹1,490.34
AUM
₹241 Cr

Mahindra Manulife Ultra Short Term Fund is a Ultra Short Duration debt fund from Mahindra Manulife Mutual Fund with ₹241 Cr under management, launched in 2019. Over three years it has returned 6.5% a year, against 6.6% for its category. The expense ratio is 0.73% and the SEBI riskometer reading is Moderate.

Performance

Mahindra Manulife Ultra Short Term Fund NAV and returns

Growth of the fund against its category average over the period you pick.

Over 1Y this fund returned +6.0% against +6.1% for its category.

Performance

Returns

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

Trailing returns
PeriodFundvs categoryCategoryBenchmark
1Y6.1%+0.1 pts6.0%6.2%
2Y6.3%+0.2 pts6.1%6.3%
3Y6.5%−0.1 pts6.6%6.5%
5Y6.6%+0.5 pts6.0%6.5%
7Y6.2%+0.1 pts6.0%6.1%

Fund against category

1Y
Fund6.1%
Category6.0%
3Y
Fund6.5%
Category6.6%
5Y
Fund6.6%
Category6.0%

Since launch (10 Oct 2019): 5.8%

Calendar-year returns

Category average
Show as a table
Calendar-year returns
PeriodFundvs categoryCategory
20256.8%−0.5 pts7.2%
20247.3%−0.3 pts7.6%
20236.9%−0.4 pts7.2%
20224.4%−0.4 pts4.8%
20213.3%−0.8 pts4.1%
20205.9%+0.2 pts5.8%

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

0.73%

Expense ratio as on 6 Nov 2026

Charged yearly and already deducted from the NAV.

Base expense
0.62%
Brokerage
0.01%
Transaction charges
0.00%
Statutory levies
0.10%
Exit load
0%
Lock-in
None

Terms

Min SIP
₹3,000
Min lumpsum
₹5,000
Plan
GROWTH
Fund type
OPEN-ENDED
Benchmark
CRISIL Ultra Short Duration Debt A-I Index

Risk

Risk

What the riskometer means for this fund, and how its ratios sit against the category.

Moderate

Your principal is treated as being at moderate risk — typically medium duration debt and conservative hybrid schemes.

Risk ratios
RatioFundCategory avgRead as
Alpha——Return earned above what the benchmark alone would have given. Higher is better.
Beta——How hard the fund moves when the market moves. Under 1 is steadier than the market.
Sharpe2.22—Return earned for each unit of total risk taken. Higher is better.
Sortino2.88—Return earned for each unit of downside risk. Higher is better.
Std. deviation0.44—How widely monthly returns have varied around their own average. Lower is steadier.
Average of 5 category peers

Portfolio

Mahindra Manulife Ultra Short Term Fund portfolio

Portfolio as of 30 Sep 2026

Asset allocation

  • Debt87.8%
  • Other12.2%

Top holdings

HoldingSectorWeightValue3M chg6M chg1Y chg
REC Ltd.Financial9.50%₹19.50 Cr+5.62%+13.42%+4.82%
Small Industries Devp. Bank of India Ltd.Financial9.04%₹18.56 Cr+9.18%+9.28%—
Indian BankFinancial8.61%₹17.67 Cr———
Indian Railway Finance Corporation Ltd.Financial7.83%₹16.06 Cr——+8.69%
National Bank For Agriculture & Rural DevelopmentFinancial6.83%₹14.02 Cr+1.28%+1.03%+4.83%
Godrej Properties Ltd.Construction5.86%₹12.03 Cr+5.09%+5.16%+4.83%
OthersOthers5.56%₹11.42 Cr+1.75%+1.75%+1.60%
Mindspace Business Parks REITConstruction4.88%₹10.02 Cr———
LIC Housing Finance Ltd.Financial4.39%₹9.00 Cr+4.06%——
Power Finance Corporation Ltd.Financial3.66%₹7.50 Cr+6.88%+5.15%+4.82%

Sectors

  • Financial77.6%
  • Construction13.2%
  • Others5.6%
  • Automobile3.6%

Instruments

  • Debenture26.8%
  • Certificate of Deposit21.2%
  • Repo18.5%
  • Bonds17.8%
  • Non Convertible Debenture13.9%
  • Commercial Paper11.3%
  • Reverse Repo3.1%
  • Treasury Bills2.4%

Recent changes

HoldingFromToWeight
Indian Bank0.00%8.61%+8.61%
company:56528.01%0.00%-8.01%
company:118214.51%0.00%-4.51%
Ceat Ltd.0.00%3.60%+3.60%
Reserve Bank of India4.49%2.41%-2.08%
Axis Bank Ltd.0.00%1.19%+1.19%
Small Industries Devp. Bank of India Ltd.8.32%9.04%+0.73%
Indian Railway Finance Corporation Ltd.7.24%7.83%+0.59%
National Bank For Agriculture & Rural Development6.32%6.83%+0.51%
REC Ltd.6.31%6.82%+0.51%
Godrej Properties Ltd.5.43%5.86%+0.44%
Mindspace Business Parks REIT4.52%4.88%+0.36%
Power Finance Corporation Ltd.3.38%3.66%+0.27%
Nuvama Wealth and Investment Limited2.21%2.41%+0.20%
Infina Finance Pvt. Ltd.2.22%2.41%+0.19%
Bank Of Baroda2.18%2.37%+0.19%
Muthoot Finance Ltd.2.26%2.44%+0.18%
Embassy Office Parks REIT2.26%2.44%+0.18%
Piramal Finance Ltd.2.26%2.44%+0.18%
JM Financial Services Pvt. Ltd.1.75%1.90%+0.15%
LIC Housing Finance Ltd.1.80%1.95%+0.14%
Piramal Finance Pvt. Ltd.0.90%0.98%+0.07%
360 ONE Wealth Ltd.0.90%0.97%+0.07%
Others0.31%0.34%+0.03%

Compare

Similar funds

The rest of the category, so this fund’s numbers have something to sit against.

FundAUMExpense1Y3Y5Y
Category average₹1,099 Cr0.29%6.6%——
Aditya Birla Sun Life CRISIL-IBX Financial Services 3 to 6 Months Debt Index Fund₹2,407 Cr0.37%6.7%——
HDFC CRISIL-IBX Financial Services 3-6 Months Debt Index Fund₹1,986 Cr0.25%6.8%——
ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index Fund₹575 Cr0.18%6.7%——
Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund₹359 Cr0.36%6.4%——
Axis CRISIL-IBX Financial Services 3-6 Months Debt Index Fund₹170 Cr0.27%6.6%——
See all Ultra Short Duration funds

About

About this fund

The scheme’s own words, its benchmark and the people running it.

Investment objective

The Scheme seeks to generate regular income and capital appreciation through investment in a portfolio of short term debt & money market instruments such that the Macaulay duration of the portfolio is between 3 - 6 months.

Fund managers

  • Amit GargMr Garg is a B.Com, MMS Finance, CFAPrior to joining Mahindra Manulife Investment Management Pvt. Ltd., he has worked with Darashaw & Co. and Daiwa Asset Management (India) Pvt. Ltd.
  • 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.
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 months3.08% absolute₹60,000₹61,8483.08%
1 year6.07% annualised₹1,20,000₹1,24,0203.35%
3 years6.77% annualised₹3,60,000₹4,00,17011.16%
5 years6.22% annualised₹6,00,000₹7,05,29617.55%

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 Ultra Short Term Fund?
The NAV of Mahindra Manulife Ultra Short Term Fund is ₹1,491.29 as on 9 Nov 2026.
What is the expense ratio of Mahindra Manulife Ultra Short Term Fund?
The expense ratio of Mahindra Manulife Ultra Short Term Fund is 0.73% per year.
What is the minimum SIP amount for Mahindra Manulife Ultra Short Term Fund?
You can start a SIP in Mahindra Manulife Ultra Short Term Fund with ₹3,000 a month.
What returns has Mahindra Manulife Ultra Short Term Fund given?
Mahindra Manulife Ultra Short Term Fund has returned 6.1% over 1 year, 6.5% over 3 years and 6.6% over 5 years (annualised).
Is there a lock-in or exit load on Mahindra Manulife Ultra Short Term Fund?
Lock-in: None. Exit load: 0%.
How risky is Mahindra Manulife Ultra Short Term Fund?
Mahindra Manulife Ultra Short Term Fund is rated Moderate on the SEBI riskometer and belongs to the Ultra Short Duration category.
Which fund house manages Mahindra Manulife Ultra Short Term Fund?
Mahindra Manulife Ultra Short Term Fund is managed by Mahindra Manulife Mutual Fund, which runs 27 schemes with ₹38,154 Cr under management.