Mahindra Manulife Large Cap Fund is a Large Cap fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹647 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 9.2% a year and its Regular plan returned 7.5% a year. Its benchmark, Nifty 100 TRI, returned 9.1% a year over the same 3 years.
NAV (Direct plan)
₹24.22
▲ 0.40% · 30-10-2026
NAV (Regular plan)
₹21.15
▲ 0.40% · 30-10-2026
Expense ratio
1.09%Direct2.60%Regular
1.09%
A year
Riskometer
Very High
Set by the fund house
3 year return
9.2%Direct7.5%Regular
9.2%
A year
Mahindra Manulife Large Cap Fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹24.22 (up 0.40% that day); Regular Plan Growth ₹21.15 (up 0.40% that day).
This fund (Direct plan)
₹24.2171
Mahindra Manulife Large Cap Fund Returns vs Nifty 100 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)
+1.55%
−5.30%
−2.62%
−8.80%
+9.23%
+7.57%
--
This fund (Regular)
+1.42%
−5.66%
−3.37%
−10.23%
+7.45%
+5.73%
--
Nifty 100 TRI
+1.04%
−5.31%
−2.96%
−8.69%
+9.08%
+7.22%
+11.72%
Large Cap average
+0.62%
−4.36%
−1.05%
−6.33%
+10.38%
+8.23%
--
Best in Large Cap
+2.29%
+1.11%
+6.60%
+2.96%
+14.19%
+11.98%
--
Worst in Large Cap
−2.13%
−6.44%
−5.00%
−10.55%
+7.81%
+5.19%
--
Rank in Large Cap
4/35
28/35
29/35
31/33
23/30
19/27
--
Category rows compare the Direct plans of 35 Large Cap funds. Rank 1 is the highest return.
Mahindra Manulife Large Cap Fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
Nifty 100 TRI
2026to date
−10.45%
−11.61%
−9.32%
2025
+11.28%
+9.44%
+10.24%
2024
+14.73%
+12.81%
+12.95%
2023
+23.99%
+21.88%
+21.24%
2022
+3.87%
+1.89%
+4.94%
2021
+31.99%
+29.69%
+26.45%
Mahindra Manulife Large Cap Fund Rolling Returns
The return of every holding period in the fund's history, not only the one that ends today
Rolling returns
Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 1,137 periods, one for each trading day from 21-03-2022 to 30-10-2026.
0%5%10%15%20%25%30%
Mahindra Manulife Large Cap Fund (Direct)
Nifty 100 TRI
Aug 2019 to Aug 2022May 2020 to May 2023Feb 2021 to Feb 2024Dec 2021 to Dec 2024Sept 2022 to Sept 2025Jun 2023 to Jun 2026
Mahindra Manulife Large Cap Fund (Direct)Nifty 100 TRI
0%
0%
Below 0%
0%
0%
0-5%
3%
4%
5-10%
25%
41%
10-15%
55%
43%
15-20%
13%
9%
20-25%
3%
3%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
1,632
10.7%
−28.3%
89.4%
19%
9.4%
67%
2 years
1,383
18.3%
−5.5%
49.9%
5%
16.6%
85%
3 years
1,137
16.6%
7.0%
30.9%
0%
15.4%
92%
5 years
645
17.7%
6.7%
26.9%
0%
16.3%
100%
7 years
152
13.7%
11.9%
15.1%
0%
12.6%
100%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
80
11.2%
−42.4%
71.5%
23%
12.4%
66%
2 years
68
15.3%
−6.0%
44.6%
7%
14.5%
82%
3 years
56
15.9%
−1.1%
26.5%
2%
14.6%
86%
5 years
32
16.1%
5.7%
24.7%
0%
14.6%
100%
Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty 100 TRI over the same days. Past returns do not promise future returns.
Mahindra Manulife Large Cap Fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
Mahindra Manulife Large Cap Fund (Direct)This fund
Nifty 100 TRI
Return (CAGR)
−8.80%
−8.69%
Standard deviation
13.18%
14.04%
Sharpe ratio
-1.07
-0.99
Sortino ratio
-1.42
-1.32
Maximum drawdown
−14.6%
(31-03-2026)
−14.9%
(30-03-2026)
Beta
0.94
1.00
Alpha
−1.01%
0.00%
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
Mahindra Manulife Large Cap Fund (Direct)This fund
Nifty 100 TRI
Return (CAGR)
+9.23%
+9.08%
Standard deviation
12.91%
13.72%
Sharpe ratio
0.25
0.22
Sortino ratio
0.34
0.31
Maximum drawdown
−15.1%
(28-02-2025)
−17.2%
(28-02-2025)
Beta
0.93
1.00
Alpha
+0.36%
0.00%
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
Mahindra Manulife Large Cap Fund (Direct)This fund
Nifty 100 TRI
Return (CAGR)
+7.57%
+7.22%
Standard deviation
13.40%
14.01%
Sharpe ratio
0.13
0.10
Sortino ratio
0.18
0.14
Maximum drawdown
−16.7%
(17-06-2022)
−17.2%
(28-02-2025)
Beta
0.95
1.00
Alpha
+0.42%
0.00%
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
Mahindra Manulife Large Cap Fund (Direct)This fund
Nifty 100 TRI
Return (CAGR)
+12.29%
+11.13%
Standard deviation
16.22%
17.16%
Sharpe ratio
0.44
0.35
Sortino ratio
0.60
0.47
Maximum drawdown
−35.3%
(23-03-2020)
−37.9%
(23-03-2020)
Beta
0.93
1.00
Alpha
+1.56%
0.00%
From daily NAVs, 19-03-2019 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
−40%−30%−20%−10%0%
Mahindra Manulife Large Cap Fund (Direct)
Nifty 100 TRI
2020202120222023202420252026
Mahindra Manulife Large Cap Fund (Direct)Nifty 100 TRI
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
Mahindra Manulife Large Cap Fund (Direct)
−35.3%
24-01-2020
23-03-2020
09-11-2020
8 months
−11.4%
Nifty 100 TRI
−37.9%
17-01-2020
23-03-2020
06-11-2020
7 months
−10.1%
From the Direct plan's daily NAV since 19-03-2019, adjusted for unit splits, and Nifty 100 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
Mahindra Manulife Large Cap Fund vs Other Large Cap Funds
The five Large Cap funds with the best three year return, and this fund. Direct plans.
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 Large Cap Fund Expense Ratio and Costs
What each plan charges a year, in force from 09-10-2026
Plan
Base expense ratio
Brokerage
Transaction costs
Levies and GST
Total expense ratio
Large Cap median
Cost rank (1 = cheapest)
Direct
0.72%
0.08%
0.00%
0.29%
1.09%
1.08%
19/35
Regular
2.05%
0.08%
0.00%
0.47%
2.60%
2.21%
26/35
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 Large Cap funds' plans of the same type are sorted from the lowest total expense ratio to the highest.
Direct vs Regular: what the gap cost
Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.
Over the last
Regular
Direct
Direct earned more by
₹1 lakh became (Regular)
₹1 lakh became (Direct)
1 year
−10.23%
−8.80%
1.43%
₹89,770
₹91,200
3 years
7.45%
9.23%
1.78% a year
₹1,24,056
₹1,30,324
5 years
5.73%
7.57%
1.84% a year
₹1,32,127
₹1,44,031
Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.
Mahindra Manulife Large Cap Fund SIP Calculator
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
Step up each year
PeriodFor
₹10,000 on the first trading day of every month, from 19-03-2019 to 30-10-2026: 92 instalments, ₹9,20,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planMahindra Manulife Large Cap Fund (Direct)
₹9,20,000
₹14,04,916
₹4,84,916
10.8%
Regular planMahindra Manulife Large Cap Fund (Regular)
₹9,20,000
₹12,98,430
₹3,78,430
8.8%
Nifty 100 TRI
₹9,20,000
₹13,65,566
₹4,45,566
10.1%
Category averageCategory average, 35 Large Cap funds
₹9,20,000
₹14,31,207
₹5,11,207
11.3%
₹0₹5.0 L₹10.0 L₹15.0 L₹20.0 L
Direct planMahindra Manulife Large Cap Fund (Direct)
Regular planMahindra Manulife Large Cap Fund (Regular)
Nifty 100 TRI
Category averageCategory average, 35 Large Cap funds
Amount invested
2020202120222023202420252026
Direct planMahindra Manulife Large Cap Fund (Direct)Regular planMahindra Manulife Large Cap Fund (Regular)Nifty 100 TRICategory averageCategory average, 35 Large Cap fundsAmount invested
From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Mahindra Manulife Large Cap Fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
94.0%Equity
Asset
Fund
Category
Equity
94.0%
96.0%
Cash and others
6.0%
2.9%
Market cap of stocks
Market cap
Fund
Category
Large Cap
85.5%
82.5%
Mid Cap
6.9%
8.7%
Small Cap
1.6%
3.3%
Share of the whole fund. Category: the average of the Large Cap 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 Large Cap Fund Sector Allocation
Sector allocation of the fund's stocks as on 30-09-2026
Largest sectors
Banks26.3%
Automobiles8.2%
Retailing6.6%
Pharmaceuticals & Biotechnology6.5%
IT - Software6.0%
Petroleum Products5.0%
Telecom - Services4.5%
Finance4.0%
Power3.8%
Construction3.5%
The ten largest of 21 sectors. The other 11 add up to 19.6%.
Sector changes
Sector
July 2026
August 2026
September 2026
Change
Banks
27.3%
26.9%
26.3%
−1.0%
Automobiles
9.2%
9.2%
8.2%
−1.0%
Retailing
6.0%
6.3%
6.6%
+0.6%
Pharmaceuticals & Biotechnology
4.0%
5.3%
6.5%
+2.6%
IT - Software
8.2%
6.3%
6.0%
−2.2%
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 Large Cap Fund Portfolio Holdings
As on 30-09-2026 · 44 holdings · from the fund house's monthly portfolio
Holdings
Sector
Weight%
Holdings trend
1M change
ICICI Bank Limited
Banks
8.79%
−5.5%
HDFC Bank Limited
Banks
8.06%
0.0%
Reliance Industries Limited
Petroleum Products
4.97%
0.0%
Bharti Airtel Limited
Telecom - Services
4.45%
0.0%
Axis Bank Limited
Banks
3.60%
+16.6%
Larsen & Toubro Limited
Construction
3.47%
0.0%
Eternal Limited
Retailing
3.22%
+1.6%
TVS Motor Company Limited
Automobiles
2.61%
0.0%
Bajaj Finserv Limited
Finance
2.60%
0.0%
Infosys Limited
IT - Software
2.59%
0.0%
Kotak Mahindra Bank Ltd
Banks
2.57%
0.0%
Mahindra & Mahindra Limited
Automobiles
2.53%
0.0%
HDFC Life Insurance Company Limited
Insurance
2.26%
+133.3%
Sun Pharmaceutical Industries Limited
Pharmaceuticals & Biotechnology
2.13%
0.0%
Grasim Industries Limited
Cement & Cement Products
2.04%
+87.0%
Avenue Supermarts Limited
Retailing
2.00%
0.0%
Tech Mahindra Limited
IT - Software
1.98%
0.0%
Divi's Laboratories Limited
Pharmaceuticals & Biotechnology
1.88%
+42.4%
Adani Enterprises Limited
Metals & Minerals Trading
1.72%
0.0%
InterGlobe Aviation Limited
Transport Services
1.70%
0.0%
Titan Company Limited
Consumer Durables
1.70%
0.0%
Adani Energy Solutions Limited
Power
1.68%
0.0%
IndusInd Bank Limited
Banks
1.66%
0.0%
State Bank of India
Banks
1.60%
0.0%
Gland Pharma Limited
Pharmaceuticals & Biotechnology
1.57%
+40.0%
Tata Consultancy Services Limited
IT - Software
1.47%
0.0%
Pidilite Industries Limited
Chemicals & Petrochemicals
1.43%
0.0%
Shriram Finance Limited
Finance
1.43%
0.0%
Trent Limited
Retailing
1.38%
0.0%
Tata Motors Passenger Vehicles Limited
Automobiles
1.31%
0.0%
Hindustan Aeronautics Limited
Aerospace & Defense
1.30%
0.0%
SRF Limited
Chemicals & Petrochemicals
1.26%
0.0%
Hindustan Unilever Limited
Diversified FMCG
1.24%
0.0%
Godrej Properties Limited
Realty
1.13%
0.0%
NTPC Limited
Power
1.11%
0.0%
Tata Power Company Limited
Power
1.03%
0.0%
Nestle India Limited
Food Products
0.97%
0.0%
Dr Reddys Laboratories Limited
Pharmaceuticals & Biotechnology
0.97%
0.0%
Britannia Industries Limited
Food Products
0.96%
0.0%
Maruti Suzuki India Limited
Automobiles
0.93%
0.0%
Eicher Motors Limited
Automobiles
0.83%
−49.9%
Multi Commodity Exchange of India Limited
Capital Markets
0.81%
New
LG Electronics India Ltd
Consumer Durables
0.80%
New
Nippon Life India Asset Management Limited
Capital Markets
0.25%
New
Mahindra Manulife Large Cap Fund Stocks Bought and Sold
All changes are between August 2026 and September 2026
More
Stocks bought and sold in September 2026
ICICI Bank Limited
↓Reduced
−5.5%
8.79%
Axis Bank Limited
↑Added
+16.6%
3.60%
Eternal Limited
↑Added
+1.6%
3.22%
HDFC Life Insurance Company Limited
↑Added
+133.3%
2.26%
Grasim Industries Limited
↑Added
+87.0%
2.04%
Divi's Laboratories Limited
↑Added
+42.4%
1.88%
Eicher Motors Limited
↓Reduced
−49.9%
0.83%
Gland Pharma Limited
↑Added
+40.0%
1.57%
Tata Capital Limited
↓Sold out
−100%
was 1.10%
Punjab National Bank
↓Sold out
−100%
was 1.07%
Havells India Limited
↓Sold out
−100%
was 1.04%
HDB Financial Services Limited
↓Sold out
−100%
was 0.98%
Indus Towers Limited
↓Sold out
−100%
was 0.95%
Max Healthcare Institute Limited
↓Sold out
−100%
was 0.82%
Multi Commodity Exchange of India Limited
↑New
New
0.81%
LG Electronics India Ltd
↑New
New
0.80%
Nippon Life India Asset Management Limited
↑New
New
0.25%
No stocks in this group for September 2026.
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.
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 Large Cap Fund Overview
Fund facts from the scheme summary document, as on 16-10-2026
Expense ratio (Direct)
1.09%
Expense ratio (Regular)
2.60%
Category
Large Cap
Risk
Very High
Benchmark
Nifty 100 TRI
Launch date
15-03-2019
Minimum investment
₹1,000
Minimum additional investment
₹1,000
AUM
₹646.81 Cr (30-09-2026)
Lock in
None
Scheme code (Direct)
146549
ISIN (Direct)
INF174V01721
Scheme code (Regular)
146551
ISIN (Regular)
INF174V01697
NAV history
From 19-03-2019, 7.6 years
Exit load
An Exit Load of 1% is payable if Units are redeemed / switched-out upto 3 months from the date of allotment, Nil if Units are redeemed / switched-out after 3 months from the date of allotment.
Tax on Mahindra Manulife Large Cap Fund returns
Mahindra Manulife Large Cap 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
₹24.2171
30-10-2026
direct
IDCW
₹16.8718
30-10-2026
regular
Growth
₹21.1452
30-10-2026
regular
IDCW
₹14.1049
30-10-2026
About Mahindra Manulife Large Cap Fund
Mahindra Manulife Large Cap Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is Large Cap. It was launched on 15-03-2019. Its benchmark is Nifty 100 TRI. At the end of September 2026 it held 44 securities.
Fund Manager
$ Mr. Hemang Kapasi
Fund manager of Mahindra Manulife Large Cap Fund, since 25-09-2026
$ Ms. Kirti Dalvii
Fund manager of Mahindra Manulife Large Cap Fund, since 02-12-2025
Frequently Asked Questions for Mahindra Manulife Large Cap Fund
What is the current NAV of Mahindra Manulife Large Cap Fund?
The Direct plan NAV is ₹24.2171. The Regular plan NAV is ₹21.1452, as on 30-10-2026.
What are the returns of Mahindra Manulife Large Cap Fund?
The Direct plan returned −8.80% in 1 year, +9.23% a year over 3 years, +7.57% a year over 5 years. The Regular plan returned −10.23% in 1 year, +7.45% a year over 3 years, +5.73% a year over 5 years. These figures are as on 30-10-2026.
What is the expense ratio of Mahindra Manulife Large Cap Fund?
The Direct plan charges 1.09% a year. The Regular plan charges 2.60% a year. This is the figure the fund house reported to AMFI, in force from 09-10-2026.
What is the AUM of Mahindra Manulife Large Cap Fund?
Mahindra Manulife Large Cap Fund managed ₹646.81 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of Mahindra Manulife Large Cap Fund?
At the end of September 2026 the largest holdings were ICICIBANK (8.79%), HDFCBANK (8.06%), RELIANCE (4.97%), BHARTIARTL (4.45%), AXISBANK (3.60%). The fund held 44 securities in all.
What did Mahindra Manulife Large Cap Fund buy and sell in September 2026?
It bought 3 new stocks: Nippon Life India Asset Management Limited, LG Electronics India Ltd, Multi Commodity Exchange of India Limited. It sold out of 6: Max Healthcare Institute Limited, Indus Towers Limited, Punjab National Bank, Havells India Limited, HDB Financial Services Limited. It added shares in 6. It reduced 2.
How do I invest in Mahindra Manulife Large Cap 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 Large Cap Fund?
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.
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