Mahindra Manulife Innovation Opportunities Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Mahindra Manulife Innovation Opportunities Fund is a Thematic fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹257 Cr of investors' money.

NAV (Direct plan): ₹10.45; ▼ 0.35%30-10-2026
NAV (Regular plan): ₹10.32; ▼ 0.36%30-10-2026
Expense ratio: 0.98%Direct2.57%Regular; 0.98%; A year
Riskometer: Very High; Set by the fund house
6 month return: 2.6%Direct1.8%Regular; 2.6%; Total

Mahindra Manulife Innovation Opportunities Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹10.45 (down 0.35% that day); Regular Plan Growth ₹10.32 (down 0.36% that day).

This fund (Direct plan)

₹10.4527

Mahindra Manulife Innovation Opportunities Fund Returns vs Nifty 500 TRI

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−1.59%	−5.20%	+2.61%	--	--	--	--
This fund (Regular)	−1.72%	−5.58%	+1.76%	--	--	--	--
Nifty 500 TRI	−0.75%	−6.05%	−2.83%	−7.34%	+10.22%	+8.81%	+12.51%
Thematic average	−2.09%	−4.52%	+0.86%	--	--	--	--
Best in Thematic	+11.54%	+11.27%	+22.16%	--	--	--	--
Worst in Thematic	−16.05%	−11.74%	−13.97%	--	--	--	--
Rank in Thematic	92/235	109/232	81/232	--	--	--	--

Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.

Mahindra Manulife Innovation Opportunities Fund vs Other Thematic Funds

The five Thematic funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Nippon India Taiwan Equity Fund	1/133	1,147	1.08%	+75.71%	+54.78%	--	--	1.38	2.03	Compare
HDFC Defence Fund	2/133	11,493	0.90%	+13.79%	+34.76%	−0.18%	0.83	1.12	1.54	Compare
HDFC Pharma and Healthcare Fund	3/133	3,501	1.05%	+23.12%	+30.53%	+8.23%	0.96	1.74	2.49	Compare
SBI Healthcare Opportunities Fund	4/133	5,870	1.01%	+17.12%	+24.60%	+3.61%	0.88	1.42	2.03	Compare
Aditya Birla Sun Life International Equity Fund	5/133	352	2.00%	+13.97%	+24.46%	--	--	1.49	2.16	Compare
Mahindra Manulife Innovation Opportunities Fund	--	257	0.98%	--	--	--	--	--	--

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

Mahindra Manulife Innovation Opportunities Fund Expense Ratio and Costs

What each plan charges a year, in force from 23-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Thematic median	Cost rank (1 = cheapest)
Direct	0.70%	0.05%	0.00%	0.23%	0.98%	1.18%	54/235
Regular	2.10%	0.05%	0.00%	0.42%	2.57%	2.41%	152/235

The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Mahindra Manulife Innovation Opportunities Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

97.5%Equity

Asset	Fund	Category
Equity	97.5%	94.5%
Cash and others	2.5%	4.0%

Market cap of stocks

Market cap	Fund	Category
Large Cap	39.1%	45.7%
Mid Cap	34.1%	19.6%
Small Cap	24.3%	24.1%

Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

Mahindra Manulife Innovation Opportunities Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Pharmaceuticals & Biotechnology13.1%
Banks8.3%
Finance6.7%
Transport Services5.9%
Retailing5.0%
Auto Components4.9%
Healthcare Services4.5%
Industrial Products4.5%
Power4.0%
Financial Technology (Fintech)3.8%

The ten largest of 26 sectors. The other 16 add up to 36.9%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Pharmaceuticals & Biotechnology	9.4%	9.9%	13.1%	+3.7%
Banks	8.6%	8.8%	8.3%	−0.3%
Finance	4.9%	7.0%	6.7%	+1.8%
Transport Services	5.9%	6.1%	5.9%	0.0%
Retailing	5.4%	5.1%	5.0%	−0.4%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

Mahindra Manulife Innovation Opportunities Fund Portfolio Holdings

As on 30-09-2026 · 54 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
Eternal Limited	Retailing	3.79%	0.0%
Bajaj Finance Ltd	Finance	2.73%	0.0%
One 97 Communications Limited	Financial Technology (Fintech)	2.64%	0.0%
ICICI Bank Limited	Banks	2.61%	0.0%
Aditya Birla Capital Limited	Finance	2.60%	0.0%
Acutaas Chemicals Limited	Pharmaceuticals & Biotechnology	2.59%	0.0%
Torrent Pharmaceuticals Limited	Pharmaceuticals & Biotechnology	2.57%	0.0%
Reliance Industries Limited	Petroleum Products	2.53%	+23.8%
Belrise Industries Ltd.	Auto Components	2.44%	0.0%
Karur Vysya Bank Limited	Banks	2.32%	0.0%
Aster DM Quality Care Limited	Healthcare Services	2.29%	0.0%
Divi's Laboratories Limited	Pharmaceuticals & Biotechnology	2.26%	0.0%
Dr. Lal Path Labs Limited	Healthcare Services	2.23%	0.0%
Axis Bank Limited	Banks	2.20%	0.0%
Delhivery Limited	Transport Services	2.13%	0.0%
InterGlobe Aviation Limited	Transport Services	2.11%	0.0%
Radico Khaitan Limited	Beverages	2.06%	0.0%
Smartworks Coworking Spaces Ltd	Commercial Services & Supplies	2.03%	+99.7%
Coforge Limited	IT - Software	1.97%	+5.5%
Bharti Airtel Limited	Telecom - Services	1.95%	0.0%
Larsen & Toubro Limited	Construction	1.95%	0.0%
Adani Energy Solutions Limited	Power	1.94%	+18.0%
Senores Pharmaceuticals Limited	Pharmaceuticals & Biotechnology	1.94%	New
Navin Fluorine International Limited	Chemicals & Petrochemicals	1.86%	0.0%
Adani Enterprises Limited	Metals & Minerals Trading	1.85%	0.0%
CG Power and Industrial Solutions Limited	Electrical Equipment	1.82%	0.0%
360 One WAM Limited	Capital Markets	1.76%	+32.4%
Hindustan Aeronautics Limited	Aerospace & Defense	1.74%	0.0%
KEI Industries Limited	Industrial Products	1.71%	0.0%
AIA Engineering Limited	Industrial Products	1.70%	0.0%
K.P.R. Mill Limited	Textiles & Apparels	1.70%	0.0%
Black Buck Ltd	Transport Services	1.67%	0.0%
GE Vernova T&D India Limited	Electrical Equipment	1.63%	0.0%
Mahindra & Mahindra Limited	Automobiles	1.62%	0.0%
Zydus Lifesciences Limited	Pharmaceuticals & Biotechnology	1.54%	New
Tech Mahindra Limited	IT - Software	1.54%	0.0%
Varun Beverages Ltd	Beverages	1.52%	0.0%
Vodafone Idea Limited	Telecom - Services	1.41%	0.0%
Piramal Finance Limited	Finance	1.38%	+16.1%
Crompton Greaves Consumer Electricals Limited	Consumer Durables	1.37%	+49.6%
SRF Limited	Chemicals & Petrochemicals	1.35%	0.0%
Max Financial Services Limited	Insurance	1.30%	0.0%
Schaeffler India Limited	Auto Components	1.24%	0.0%
Biocon Limited	Pharmaceuticals & Biotechnology	1.21%	0.0%
IDFC First Bank Limited	Banks	1.20%	0.0%
Tube Investments Of India Limited	Auto Components	1.20%	0.0%
Swiggy Limited	Retailing	1.19%	0.0%
PB Fintech Limited	Financial Technology (Fintech)	1.16%	0.0%
JSW Energy Limited	Power	1.08%	0.0%
HBL Engineering Limited	Industrial Products	1.07%	New
Bharat Electronics Limited	Aerospace & Defense	1.01%	0.0%
Clean Max Enviro Energy Solutions Limited	Power	0.98%	New
Anthem Biosciences Limited	Pharmaceuticals & Biotechnology	0.94%	−23.3%
JK Cement Limited	Cement & Cement Products	0.91%	0.0%

Mahindra Manulife Innovation Opportunities Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Reliance Industries Limited	Added	+23.8%	2.53%
Coforge Limited	Added	+5.5%	1.97%
Smartworks Coworking Spaces Ltd	Added	+99.7%	2.03%
Senores Pharmaceuticals Limited	New	New	1.94%
Adani Energy Solutions Limited	Added	+18.0%	1.94%
360 One WAM Limited	Added	+32.4%	1.76%
Zydus Lifesciences Limited	New	New	1.54%
Piramal Finance Limited	Added	+16.1%	1.38%
Crompton Greaves Consumer Electricals Limited	Added	+49.6%	1.37%
Infosys Limited	Sold out	−100%	was 1.25%
Anthem Biosciences Limited	Reduced	−23.3%	0.94%
HBL Engineering Limited	New	New	1.07%
Clean Max Enviro Energy Solutions Limited	New	New	0.98%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What Mahindra Manulife Innovation Opportunities Fund bought and sold

Mahindra Manulife Innovation Opportunities Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
Mahindra Manulife Large & Mid Cap FundLarge & Mid Cap · Mahindra Manulife	41.5%	31	Compare
JM Large & Mid Cap FundLarge & Mid Cap · JM Financial	39.7%	25	Compare
Mahindra Manulife Flexi Cap FundFlexi Cap · Mahindra Manulife	37.9%	29	Compare
JM Large Cap FundLarge Cap · JM Financial	36.6%	20	Compare
Mahindra Manulife Mid Cap FundMid Cap · Mahindra Manulife	36.4%	27	Compare
Canara Robeco Flexi Cap FundFlexi Cap · Canara Robeco	36.2%	27	Compare
Canara Robeco ELSS - Tax Saver FundELSS · Canara Robeco	35.1%	23	Compare
Helios Large & Mid Cap FundLarge & Mid Cap · Helios	34.6%	20	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

Mahindra Manulife Innovation Opportunities Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 0.98%
Expense ratio (Regular): 2.57%
Category: Thematic
Risk: Very High
Benchmark: Nifty 500 TRI
Launch date: 30-01-2026
Minimum investment: ₹1,000
Minimum additional investment: ₹1,000
AUM: ₹256.96 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 154121
ISIN (Direct): INF174V01DA4
Scheme code (Regular): 154120
ISIN (Regular): INF174V01CX8
NAV history: From 02-02-2026, 0.7 years

Exit load: Exit Load (as % of NAV) #: -An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment; -Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). # Applicable for normal subscriptions / redemptions including transactions under special products such as SIP, SWP, switches, etc. offered by the AMC. For detailed load structure disclosure, please refer SID.

Tax on Mahindra Manulife Innovation Opportunities Fund returns

Mahindra Manulife Innovation Opportunities Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹10.4527	30-10-2026
direct	IDCW	₹10.4527	30-10-2026
regular	Growth	₹10.3176	30-10-2026
regular	IDCW	₹10.3176	30-10-2026

About Mahindra Manulife Innovation Opportunities Fund

Mahindra Manulife Innovation Opportunities Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is Thematic. It was launched on 30-01-2026. Its benchmark is Nifty 500 TRI. At the end of September 2026 it held 54 securities.

Fund Manager

Kirti Dalvi
Fund manager of Mahindra Manulife Innovation Opportunities Fund, since 30-01-2026
Renjith Sivaram Radhakrishnan
Fund manager of Mahindra Manulife Innovation Opportunities Fund, since 30-01-2026

See all funds of Mahindra Manulife Mutual Fund

AUM change

September 2026: ₹256.96 Cr; −2.28% from August 2026
August 2026: ₹262.96 Cr; +11.22% from July 2026
July 2026: ₹236.43 Cr; +15.02% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare Mahindra Manulife Innovation Opportunities Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

Compare with any other fund

Frequently Asked Questions for Mahindra Manulife Innovation Opportunities Fund

What is the current NAV of Mahindra Manulife Innovation Opportunities Fund?

The Direct plan NAV is ₹10.4527. The Regular plan NAV is ₹10.3176, as on 30-10-2026.

What is the expense ratio of Mahindra Manulife Innovation Opportunities Fund?

The Direct plan charges 0.98% a year. The Regular plan charges 2.57% a year. This is the figure the fund house reported to AMFI, in force from 23-10-2026.

What is the AUM of Mahindra Manulife Innovation Opportunities Fund?

Mahindra Manulife Innovation Opportunities Fund managed ₹256.96 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Mahindra Manulife Innovation Opportunities Fund?

At the end of September 2026 the largest holdings were ETERNAL (3.79%), BAJFINANCE (2.73%), PAYTM (2.64%), ICICIBANK (2.61%), ABCAPITAL (2.60%). The fund held 54 securities in all.

What did Mahindra Manulife Innovation Opportunities Fund buy and sell in September 2026?

It bought 4 new stocks: Zydus Lifesciences Limited, Senores Pharmaceuticals Limited, HBL Engineering Limited, Clean Max Enviro Energy Solutions Limited. It sold out of 1: Infosys Limited. It added shares in 7. It reduced 1.

How do I invest in Mahindra Manulife Innovation Opportunities Fund?

Through Mahindra Manulife Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹1,000. You can invest once or through a monthly SIP.

Who is the fund manager of Mahindra Manulife Innovation Opportunities Fund?

Kirti Dalvi (since 30-01-2026), Renjith Sivaram Radhakrishnan (since 30-01-2026).

What is the exit load of Mahindra Manulife Innovation Opportunities Fund?

Exit Load (as % of NAV) #: -An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment; -Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). # Applicable for normal subscriptions / redemptions including transactions under special products such as SIP, SWP, switches, etc. offered by the AMC. For detailed load structure disclosure, please refer SID.

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.