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    Mahindra Manulife Large & Mid Cap Fund

    Large & Mid CapDirect and Regular plans, Growth and IDCW options

    Data as on 30-10-2026

    Mahindra Manulife Large & Mid Cap Fund is a Large & Mid Cap fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹2,753 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 11.9% a year and its Regular plan returned 10.2% a year. Its benchmark, NIFTY LargeMidcap 250 TRI, returned 11.5% a year over the same 3 years.

    NAV (Direct plan)
    ₹29.86
    ▼ 0.38%30-10-2026
    NAV (Regular plan)
    ₹26.61
    ▼ 0.39%30-10-2026
    Expense ratio
    0.84%Direct2.20%Regular
    Riskometer
    Very High
    Set by the fund house
    3 year return
    11.9%Direct10.2%Regular

    Mahindra Manulife Large & Mid Cap Fund NAV Today

    NAV on 30-10-2026: Direct Plan Growth ₹29.86 (down 0.38% that day); Regular Plan Growth ₹26.61 (down 0.39% that day).

    Mahindra Manulife Large & Mid Cap Fund Returns vs NIFTY LargeMidcap 250 TRI

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

    Trailing returns
    Period1M3M6M1Y3Y5Y10Y
    This fund (Direct)−0.88%−3.09%+2.43%−2.22%+11.86%+10.94%--
    This fund (Regular)−0.99%−3.42%+1.72%−3.59%+10.21%+9.14%--
    NIFTY LargeMidcap 250 TRI−1.32%−6.87%−3.40%−6.47%+11.53%+10.60%--
    Large & Mid Cap average−1.78%−5.20%−0.43%−3.99%+13.28%+11.36%--
    Best in Large & Mid Cap+3.19%+2.03%+6.53%+4.95%+21.30%+17.43%--
    Worst in Large & Mid Cap−4.75%−10.20%−5.87%−14.20%+5.64%+6.28%--
    Rank in Large & Mid Cap8/366/355/339/3321/2614/26--

    Category rows compare the Direct plans of 36 Large & Mid Cap funds. Rank 1 is the highest return.

    Mahindra Manulife Large & Mid Cap Fund Year-wise Returns

    Return of each calendar year
    YearDirectRegularNIFTY LargeMidcap 250 TRI
    2026to date−1.33%−2.47%−7.09%
    2025+3.77%+2.25%+8.19%
    2024+18.48%+16.64%+18.68%
    2023+34.45%+32.22%+32.66%
    2022+3.94%+1.93%+4.48%
    2021+48.04%+45.24%+37.04%

    Mahindra Manulife Large & Mid 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 942 periods, one for each trading day from 02-01-2023 to 30-10-2026.

    0%10%20%30%40%
    Apr 2020
    to
    Apr 2023
    Dec 2020
    to
    Dec 2023
    Aug 2021
    to
    Aug 2024
    Apr 2022
    to
    Apr 2025
    Nov 2022
    to
    Nov 2025
    Jul 2023
    to
    Jul 2026
    Mahindra Manulife Large & Mid Cap Fund (Direct)NIFTY LargeMidcap 250 TRI

    Every holding period at a glance

    PeriodPeriodsMedianLowestHighestWith a lossBenchmark medianBeat benchmark
    1 year1,43616.7%−8.1%95.4%12%15.8%47%
    2 years1,18921.3%−2.1%59.5%2%20.9%63%
    3 years94220.3%10.3%35.7%0%19.9%49%
    5 years45220.9%9.9%31.1%0%19.8%90%

    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 LargeMidcap 250 TRI over the same days. Past returns do not promise future returns.

    Mahindra Manulife Large & Mid Cap Fund Risk

    How much it swings, and the falls an investor had to sit through

    Risk and return

    MeasureMahindra Manulife Large & Mid Cap Fund (Direct)This fundNIFTY LargeMidcap 250 TRI
    Return (CAGR)+11.86%+11.53%
    Standard deviation16.11%14.90%
    Sharpe ratio0.360.37
    Sortino ratio0.470.50
    Maximum drawdown−20.0% (03-03-2025)−18.8% (28-02-2025)
    Beta1.041.00
    Alpha+0.10%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.

    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%
    202120222023202420252026
    Mahindra Manulife Large & Mid Cap Fund (Direct)NIFTY LargeMidcap 250 TRI
    Worst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Mahindra Manulife Large & Mid Cap Fund (Direct)−32.9%20-02-202023-03-202028-08-20205 months−7.0%
    NIFTY LargeMidcap 250 TRI−37.8%24-01-202023-03-202005-11-20207 months−8.6%

    From the Direct plan's daily NAV since 01-01-2020, adjusted for unit splits, and NIFTY LargeMidcap 250 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 & Mid Cap Fund vs Other Large & Mid Cap Funds

    The five Large & Mid Cap funds with the best three year return, and this fund. Direct plans.

    Fund nameRankAUM (Cr)Exp. ratio1Y return3Y return3Y alpha3Y beta3Y Sharpe3Y Sortino
    Invesco India Large & Mid Cap Fund1/2612,1780.79%+1.30%+21.30%+9.50%1.050.921.29Compare
    Motilal Oswal Large and Midcap Fund2/2619,8320.90%+0.26%+20.59%+8.24%1.150.751.03Compare
    HSBC Large & Mid Cap Fund3/265,7841.35%+3.59%+17.14%+5.04%1.100.630.84Compare
    Bandhan Large & Mid Cap Fund4/2621,0211.14%−3.83%+16.65%+5.44%0.940.741.00Compare
    Quant Large & Mid Cap Fund5/263,3841.22%+4.95%+14.95%+3.37%1.010.540.74Compare
    Mahindra Manulife Large & Mid Cap Fund21/262,7530.84%−2.22%+11.86%+0.10%1.040.360.47

    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 & Mid Cap Fund Expense Ratio and Costs

    What each plan charges a year, in force from 22-10-2026

    PlanBase expense ratioBrokerageTransaction costsLevies and GSTTotal expense ratioLarge & Mid Cap medianCost rank (1 = cheapest)
    Direct0.52%0.08%0.00%0.24%0.84%1.08%9/36
    Regular1.70%0.08%0.00%0.42%2.20%2.30%15/36

    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 & Mid 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 lastRegularDirectDirect earned more by₹1 lakh became (Regular)₹1 lakh became (Direct)
    1 year−3.59%−2.22%1.37%₹96,410₹97,780
    3 years10.21%11.86%1.65% a year₹1,33,864₹1,39,967
    5 years9.14%10.94%1.80% a year₹1,54,853₹1,68,051

    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 & Mid 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 01-01-2020 to 30-10-2026: 82 instalments, ₹8,20,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Direct planMahindra Manulife Large & Mid Cap Fund (Direct) ₹8,20,000 ₹13,64,882 ₹5,44,882 14.7%
    Regular planMahindra Manulife Large & Mid Cap Fund (Regular) ₹8,20,000 ₹12,74,950 ₹4,54,950 12.7%
    NIFTY LargeMidcap 250 TRI ₹8,20,000 ₹13,08,603 ₹4,88,603 13.5%
    Category averageCategory average, 36 Large & Mid Cap funds ₹8,20,000 ₹13,56,793 ₹5,36,793 14.5%
    ₹0₹5.0 L₹10.0 L₹15.0 L
    202120222023202420252026
    Direct planMahindra Manulife Large & Mid Cap Fund (Direct)Regular planMahindra Manulife Large & Mid Cap Fund (Regular)NIFTY LargeMidcap 250 TRICategory averageCategory average, 36 Large & Mid 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 & Mid Cap Fund Asset Allocation

    Asset allocation as on 30-09-2026

    What the fund holds

    96.2%Equity

    AssetFundCategory
    Equity96.2%95.4%
    Cash and others3.8%3.7%

    Market cap of stocks

    Market capFundCategory
    Large Cap44.9%42.7%
    Mid Cap37.5%37.7%
    Small Cap13.8%13.3%

    Share of the whole fund. Category: the average of the Large & Mid 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 & Mid Cap Fund Sector Allocation

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

    Largest sectors

    1. Banks18.5%

    2. Pharmaceuticals & Biotechnology13.0%

    3. Finance5.9%

    4. Auto Components3.8%

    5. Capital Markets3.8%

    6. Retailing3.7%

    7. IT - Software3.5%

    8. Transport Services3.2%

    9. Industrial Products3.1%

    10. Automobiles3.0%

    The ten largest of 30 sectors. The other 20 add up to 34.7%.

    Sector changes

    SectorJuly 2026August 2026September 2026Change
    Banks19.9%19.4%18.5%−1.4%
    Pharmaceuticals & Biotechnology11.5%12.5%13.0%+1.5%
    Finance5.0%6.6%5.9%+0.9%
    Auto Components3.5%3.8%3.8%+0.3%
    Capital Markets3.8%3.4%3.8%0.0%

    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 & Mid Cap Fund Portfolio Holdings

    As on 30-09-2026 · 69 holdings · from the fund house's monthly portfolio

    HoldingsSectorWeight%Holdings trend1M change
    ICICI Bank LimitedBanks4.38%0.0%
    Eternal LimitedRetailing2.84%+4.7%
    Axis Bank LimitedBanks2.81%0.0%
    The Federal Bank LimitedBanks2.76%0.0%
    HDFC Bank LimitedBanks2.71%0.0%
    Glenmark Pharmaceuticals LimitedPharmaceuticals & Biotechnology2.36%0.0%
    Senores Pharmaceuticals LimitedPharmaceuticals & Biotechnology2.16%0.0%
    IndusInd Bank LimitedBanks2.04%−19.9%
    Laurus Labs LimitedPharmaceuticals & Biotechnology2.03%−13.2%
    Larsen & Toubro LimitedConstruction1.98%0.0%

    Mahindra Manulife Large & Mid Cap Fund Stocks Bought and Sold

    All changes are between August 2026 and September 2026

    More
    Stocks bought and sold in September 2026
    Eternal LimitedAdded+4.7%2.84%
    IndusInd Bank LimitedReduced−19.9%2.04%
    Laurus Labs LimitedReduced−13.2%2.03%
    Bharat Heavy Electricals LimitedReduced−5.8%1.71%
    Bharti Hexacom LimitedAdded+8.8%1.78%
    Mahindra & Mahindra LimitedReduced−19.2%1.26%
    Coforge LimitedAdded+27.1%1.37%
    Clean Max Enviro Energy Solutions LimitedNewNew1.30%
    One 97 Communications LimitedAdded+13.4%1.29%
    360 One WAM LimitedAdded+38.7%1.23%

    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 Large & Mid Cap Fund bought and sold

    Mahindra Manulife Large & Mid Cap Fund Portfolio Overlap

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

    FundOverlapHoldings in common
    Mahindra Manulife Balanced Advantage FundBalanced Advantage · Mahindra Manulife53.5%44Compare
    Mahindra Manulife Flexi Cap FundFlexi Cap · Mahindra Manulife46.6%34Compare
    Union Large & Midcap FundLarge & Mid Cap · Union45.5%35Compare
    Axis Large & Mid Cap FundLarge & Mid Cap · Axis43.3%34Compare
    Edelweiss Large & Mid Cap FundLarge & Mid Cap · Edelweiss41.5%36Compare
    Mahindra Manulife Innovation Opportunities FundThematic · Mahindra Manulife41.5%31Compare
    Axis Multicap FundMulti Cap · Axis40.3%39Compare
    Canara Robeco Flexi Cap FundFlexi Cap · Canara Robeco39.8%31Compare

    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 & Mid Cap Fund Overview

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

    Expense ratio (Direct)
    0.84%
    Expense ratio (Regular)
    2.20%
    Category
    Large & Mid Cap
    Risk
    Very High
    Benchmark
    Nifty LargeMidcap 250 TRI
    Launch date
    30-12-2019
    Minimum investment
    ₹1,000
    Minimum additional investment
    ₹1,000
    AUM
    ₹2,753.02 Cr (30-09-2026)
    Lock in
    None
    Scheme code (Direct)
    147840
    ISIN (Direct)
    INF174V01945
    Scheme code (Regular)
    147843
    ISIN (Regular)
    INF174V01911
    NAV history
    From 01-01-2020, 6.8 years
    Exit load
    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 months from the date of allotment.

    Tax on Mahindra Manulife Large & Mid Cap Fund returns

    • Mahindra Manulife Large & Mid 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

    PlanOptionNAVAs on
    directGrowth₹29.863630-10-2026
    directIDCW₹21.631430-10-2026
    regularGrowth₹26.610730-10-2026
    regularIDCW₹18.733830-10-2026

    About Mahindra Manulife Large & Mid Cap Fund

    Mahindra Manulife Large & Mid Cap Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is Large & Mid Cap. It was launched on 30-12-2019. Its benchmark is Nifty LargeMidcap 250 TRI. At the end of September 2026 it held 69 securities.

    Fund Manager

    • $ Mr. Neelesh Dhamnaskar

      Fund manager of Mahindra Manulife Large & Mid Cap Fund, since 16-02-2026

    • Kirti Dalvi

      Fund manager of Mahindra Manulife Large & Mid Cap Fund, since 02-12-2025

    See all funds of Mahindra Manulife Mutual Fund

    AUM change

    September 2026
    ₹2,753.02 Cr
    −6.02% from August 2026
    August 2026
    ₹2,929.22 Cr
    +3.62% from July 2026
    July 2026
    ₹2,826.90 Cr
    +2.31% from June 2026

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

    Compare Mahindra Manulife Large & Mid Cap Fund with Other Funds

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

    Frequently Asked Questions for Mahindra Manulife Large & Mid Cap Fund

    What is the current NAV of Mahindra Manulife Large & Mid Cap Fund?

    The Direct plan NAV is ₹29.8636. The Regular plan NAV is ₹26.6107, as on 30-10-2026.

    What are the returns of Mahindra Manulife Large & Mid Cap Fund?

    The Direct plan returned −2.22% in 1 year, +11.86% a year over 3 years, +10.94% a year over 5 years. The Regular plan returned −3.59% in 1 year, +10.21% a year over 3 years, +9.14% a year over 5 years. These figures are as on 30-10-2026.

    What is the expense ratio of Mahindra Manulife Large & Mid Cap Fund?

    The Direct plan charges 0.84% a year. The Regular plan charges 2.20% a year. This is the figure the fund house reported to AMFI, in force from 22-10-2026.

    What is the AUM of Mahindra Manulife Large & Mid Cap Fund?

    Mahindra Manulife Large & Mid Cap Fund managed ₹2,753.02 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

    What are the top holdings of Mahindra Manulife Large & Mid Cap Fund?

    At the end of September 2026 the largest holdings were ICICIBANK (4.38%), ETERNAL (2.84%), AXISBANK (2.81%), FEDERALBNK (2.76%), HDFCBANK (2.71%). The fund held 69 securities in all.

    What did Mahindra Manulife Large & Mid Cap Fund buy and sell in September 2026?

    It bought 1 new stock: Clean Max Enviro Energy Solutions Limited. It sold out of 2: Swiggy Limited, MphasiS Limited. It added shares in 8. It reduced 5.

    How do I invest in Mahindra Manulife Large & Mid 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 & Mid Cap Fund?

    $ Mr. Neelesh Dhamnaskar (since 16-02-2026), Kirti Dalvi (since 02-12-2025).

    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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