Mahindra Manulife Manufacturing Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Mahindra Manulife Manufacturing Fund is a Thematic fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹648 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned 1.4% and its Regular plan returned −0.1%. Its benchmark, Nifty India Manufacturing TRI, returned −1.7% over the same year.

NAV (Direct plan): ₹10.39; ▼ 1.02%30-10-2026
NAV (Regular plan): ₹10.02; ▼ 1.02%30-10-2026
Expense ratio: 1.18%Direct2.59%Regular; 1.18%; A year
Riskometer: Very High; Set by the fund house
1 year return: 1.4%Direct−0.1%Regular; 1.4%; Total

Mahindra Manulife Manufacturing Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹10.39 (down 1.02% that day); Regular Plan Growth ₹10.02 (down 1.02% that day).

This fund (Direct plan)

₹10.3937

Mahindra Manulife Manufacturing Fund Returns vs Nifty India Manufacturing 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)	−4.11%	−3.97%	−0.05%	+1.36%	--	--	--
This fund (Regular)	−4.22%	−4.32%	−0.78%	−0.14%	--	--	--
Nifty India Manufacturing TRI	−3.56%	−7.50%	−3.61%	−1.70%	+17.16%	+14.36%	--
Thematic average	−2.09%	−4.52%	+0.86%	−1.22%	--	--	--
Best in Thematic	+11.54%	+11.27%	+22.16%	+75.71%	--	--	--
Worst in Thematic	−16.05%	−11.74%	−13.97%	−22.44%	--	--	--
Rank in Thematic	190/235	83/232	111/232	65/215	--	--	--

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

Mahindra Manulife Manufacturing Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty India Manufacturing TRI
2026to date	+1.56%	+0.32%	−2.54%
2025	+7.64%	+5.97%	+12.28%

Mahindra Manulife Manufacturing 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 1-year holding period, plotted on the day it ended. There are 332 periods, one for each trading day from 26-06-2025 to 30-10-2026.

−10%0%10%20%30%

Aug 2024
to
Aug 2025Oct 2024
to
Oct 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026

Mahindra Manulife Manufacturing Fund (Direct)Nifty India Manufacturing TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	332	6.9%	−6.0%	23.4%	22%	10.4%	18%
2 years	86	3.5%	0.3%	6.1%	0%	4.3%	47%

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 India Manufacturing TRI over the same days. Past returns do not promise future returns.

Mahindra Manulife Manufacturing Fund Risk

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

Risk and return

Measure	Mahindra Manulife Manufacturing Fund (Direct)This fund	Nifty India Manufacturing TRI
Return (CAGR)	+1.36%	−1.70%
Standard deviation	14.93%	16.02%
Sharpe ratio	-0.26	-0.43
Sortino ratio	-0.35	-0.58
Maximum drawdown	−11.0% (31-03-2026)	−12.8% (23-10-2026)
Beta	0.90	1.00
Alpha	+2.33%	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 Manufacturing Fund (Direct)This fund	Nifty India Manufacturing TRI
Return (CAGR)	+1.54%	+1.96%
Standard deviation	14.91%	15.97%
Sharpe ratio	-0.28	-0.24
Sortino ratio	-0.38	-0.32
Maximum drawdown	−23.2% (03-03-2025)	−23.0% (07-04-2025)
Beta	0.89	1.00
Alpha	−0.85%	0.00%

From daily NAVs, 26-06-2024 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.

−25%−20%−15%−10%−5%0%

20252026

Mahindra Manulife Manufacturing Fund (Direct)Nifty India Manufacturing TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
Mahindra Manulife Manufacturing Fund (Direct)	−23.2%	27-09-2024	03-03-2025	06-05-2026	14 months	−8.3%
Nifty India Manufacturing TRI	−23.0%	27-09-2024	07-04-2025	05-01-2026	9 months	−10.5%

From the Direct plan's daily NAV since 26-06-2024, adjusted for unit splits, and Nifty India Manufacturing TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

Mahindra Manulife Manufacturing 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 Manufacturing Fund	65/215	648	1.18%	+1.36%	--	--	--	--	--

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 Manufacturing 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	0.80%	0.08%	0.00%	0.30%	1.18%	1.18%	117/235
Regular	2.06%	0.08%	0.00%	0.45%	2.59%	2.41%	160/235

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.

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	−0.14%	1.36%	1.50%	₹99,860	₹1,01,360

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 Manufacturing 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

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 26-06-2024 to 30-10-2026: 29 instalments, ₹2,90,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planMahindra Manulife Manufacturing Fund (Direct)	₹2,90,000	₹3,03,329	₹13,329	3.7%
Regular planMahindra Manulife Manufacturing Fund (Regular)	₹2,90,000	₹2,97,598	₹7,598	2.1%
Nifty India Manufacturing TRI	₹2,90,000	₹2,97,595	₹7,595	2.1%
Category averageCategory average, 235 Thematic funds	₹2,90,000	₹2,99,291	₹9,291	2.6%

₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L

20252026

Direct planMahindra Manulife Manufacturing Fund (Direct)Regular planMahindra Manulife Manufacturing Fund (Regular)Nifty India Manufacturing TRICategory averageCategory average, 235 Thematic 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 Manufacturing Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

94.8%Equity

Asset	Fund	Category
Equity	94.8%	94.5%
Cash and others	5.3%	4.0%

Market cap of stocks

Market cap	Fund	Category
Large Cap	42.5%	45.7%
Mid Cap	13.0%	19.6%
Small Cap	39.3%	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 Manufacturing Fund Sector Allocation

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

Largest sectors

Auto Components15.8%
Pharmaceuticals & Biotechnology13.3%
Industrial Products11.9%
Automobiles8.6%
Aerospace & Defense6.2%
Industrial Manufacturing5.8%
Ferrous Metals5.0%
Non - Ferrous Metals4.3%
Petroleum Products3.7%
Chemicals & Petrochemicals3.1%

The ten largest of 19 sectors. The other 9 add up to 17.1%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Auto Components	14.9%	15.9%	15.8%	+0.9%
Pharmaceuticals & Biotechnology	12.4%	13.1%	13.3%	+0.8%
Industrial Products	12.3%	11.8%	11.9%	−0.4%
Automobiles	9.1%	9.0%	8.6%	−0.5%
Aerospace & Defense	4.9%	5.5%	6.2%	+1.3%

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 Manufacturing Fund Portfolio Holdings

As on 30-09-2026 · 50 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
Divi's Laboratories Limited	Pharmaceuticals & Biotechnology	5.42%	0.0%
Mahindra & Mahindra Limited	Automobiles	4.42%	0.0%
SPR Auto Technologies Ltd	Auto Components	4.21%	−9.3%
Sun Pharmaceutical Industries Limited	Pharmaceuticals & Biotechnology	3.92%	0.0%
Reliance Industries Limited	Petroleum Products	3.68%	0.0%
Tata Steel Limited	Ferrous Metals	3.60%	0.0%
Hindalco Industries Limited	Non - Ferrous Metals	3.44%	0.0%
Bajaj Auto Limited	Automobiles	2.91%	0.0%
Bharat Electronics Limited	Aerospace & Defense	2.77%	0.0%
Samvardhana Motherson International Limited	Auto Components	2.69%	0.0%
PTC Industries Ltd	Industrial Products	2.56%	0.0%
Craftsman Automation Limited	Auto Components	2.51%	0.0%
Hindustan Aeronautics Limited	Aerospace & Defense	2.48%	+40.8%
Aditya Vision Ltd	Retailing	2.40%	0.0%
Technocraft Industries (India) Limited	Industrial Products	2.18%	0.0%
Kirloskar Brothers Limited	Industrial Products	2.17%	0.0%
LG Balakrishnan & Bros Limited	Auto Components	2.06%	0.0%
Anthem Biosciences Limited	Pharmaceuticals & Biotechnology	2.05%	0.0%
Bosch Limited	Auto Components	1.90%	0.0%
S. P. Apparels Limited	Textiles & Apparels	1.80%	0.0%
Thejo Engineering Limited	Industrial Manufacturing	1.77%	0.0%
Vesuvius India Limited	Industrial Products	1.69%	0.0%
Grasim Industries Limited	Cement & Cement Products	1.68%	0.0%
Archean Chemical Industries Limited	Chemicals & Petrochemicals	1.58%	0.0%
Fine Organic Industries Limited	Chemicals & Petrochemicals	1.55%	−3.7%
ISGEC Heavy Engineering Limited	Construction	1.51%	0.0%
Powerica Limited	Electrical Equipment	1.48%	0.0%
LMW Limited	Industrial Manufacturing	1.41%	0.0%
Inox India Limited	Industrial Products	1.37%	0.0%
JSW Steel Limited	Ferrous Metals	1.35%	0.0%
K.P.R. Mill Limited	Textiles & Apparels	1.32%	0.0%
Schaeffler India Limited	Auto Components	1.25%	0.0%
Bharat Forge Limited	Auto Components	1.23%	0.0%
Hyundai Motor India Ltd	Automobiles	1.22%	0.0%
Blue Star Limited	Consumer Durables	1.04%	0.0%
Kajaria Ceramics Limited	Consumer Durables	1.03%	0.0%
Tata Motors Ltd	Agricultural, Commercial & Construction Vehicles	1.02%	0.0%
Grindwell Norton Limited	Industrial Products	1.01%	0.0%
GE Vernova T&D India Limited	Electrical Equipment	1.01%	0.0%
Coromandel International Limited	Fertilizers & Agrochemicals	0.97%	0.0%
Sai Life Sciences Limited	Pharmaceuticals & Biotechnology	0.94%	New
Varun Beverages Ltd	Beverages	0.94%	0.0%
Cipla Limited	Pharmaceuticals & Biotechnology	0.93%	0.0%
Ingersoll Rand (India) Limited	Industrial Products	0.93%	0.0%
Disa India Limited	Industrial Manufacturing	0.91%	0.0%
Shree Cement Limited	Cement & Cement Products	0.91%	0.0%
Cochin Shipyard Limited	Industrial Manufacturing	0.91%	0.0%
Ideaforge Technology Limited	Aerospace & Defense	0.91%	0.0%
National Aluminium Company Limited	Non - Ferrous Metals	0.89%	0.0%
Mazagon Dock Shipbuilders Limited	Industrial Manufacturing	0.82%	0.0%

Mahindra Manulife Manufacturing Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

SPR Auto Technologies Ltd	Reduced	−9.3%	4.21%
Hindustan Aeronautics Limited	Added	+40.8%	2.48%
Fine Organic Industries Limited	Reduced	−3.7%	1.55%
NOCIL Limited	Sold out	−100%	was 1.38%
ICICI Bank Limited	Sold out	−100%	was 0.96%
Sai Life Sciences Limited	New	New	0.94%
Alkem Laboratories Limited	Sold out	−100%	was 0.86%

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 Manufacturing Fund bought and sold

Mahindra Manulife Manufacturing Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
Mirae Asset Nifty India Manufacturing ETFETF · Mirae Asset	40.6%	23	Compare
UTI Nifty India Manufacturing Index FundIndex · UTI	40.5%	23	Compare
Nippon India NIFTY India Manufacturing Index FundIndex · Nippon India	40.5%	23	Compare
Nippon India NIFTY India Manufacturing ETFETF · Nippon India	40.5%	23	Compare
Navi Nifty India Manufacturing Index FundIndex · Navi	40.5%	23	Compare
Motilal Oswal Nifty India Manufacturing ETFETF · Motilal Oswal	40.5%	23	Compare
Axis India Manufacturing FundThematic · Axis	37.5%	22	Compare
Tata Nifty500 Multicap India Manufacturing 50:30:20 Index FundIndex · Tata	35.1%	16	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 Manufacturing Fund Overview

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

Expense ratio (Direct): 1.18%
Expense ratio (Regular): 2.59%
Category: Thematic
Risk: Very High
Benchmark: Nifty India Manufacturing TRI
Launch date: 24-06-2024
Minimum investment: ₹1,000
Minimum additional investment: ₹1,000
AUM: ₹648.11 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 152672
ISIN (Direct): INF174V01CC2
Scheme code (Regular): 152671
ISIN (Regular): INF174V01BZ5
NAV history: From 26-06-2024, 2.3 years

Exit load: Exit load of 0.5%, if redeemed within 3 months.

Tax on Mahindra Manulife Manufacturing Fund returns

Mahindra Manulife Manufacturing 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	₹10.3937	30-10-2026
direct	IDCW	₹10.3937	30-10-2026
regular	Growth	₹10.0207	30-10-2026
regular	IDCW	₹10.0207	30-10-2026

About Mahindra Manulife Manufacturing Fund

Mahindra Manulife Manufacturing Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is Thematic. It was launched on 24-06-2024. Its benchmark is Nifty India Manufacturing TRI. At the end of September 2026 it held 50 securities.

Fund Manager

Renjith Sivaram
Fund manager of Mahindra Manulife Manufacturing Fund, since 24-06-2024
Navin Matta
Fund manager of Mahindra Manulife Manufacturing Fund, since 02-12-2025

See all funds of Mahindra Manulife Mutual Fund

AUM change

September 2026: ₹648.11 Cr; −5.31% from August 2026
August 2026: ₹684.43 Cr; +1.70% from July 2026
July 2026: ₹672.99 Cr; −0.64% from June 2026

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

Compare Mahindra Manulife Manufacturing 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 Manufacturing Fund

What is the current NAV of Mahindra Manulife Manufacturing Fund?

The Direct plan NAV is ₹10.3937. The Regular plan NAV is ₹10.0207, as on 30-10-2026.

What are the returns of Mahindra Manulife Manufacturing Fund?

The Direct plan returned +1.36% in 1 year. The Regular plan returned −0.14% in 1 year. These figures are as on 30-10-2026.

What is the expense ratio of Mahindra Manulife Manufacturing Fund?

The Direct plan charges 1.18% a year. The Regular plan charges 2.59% 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 Manufacturing Fund?

Mahindra Manulife Manufacturing Fund managed ₹648.11 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Mahindra Manulife Manufacturing Fund?

At the end of September 2026 the largest holdings were DIVISLAB (5.42%), M&M (4.42%), SHRIPISTON (4.21%), SUNPHARMA (3.92%), RELIANCE (3.68%). The fund held 50 securities in all.

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

It bought 1 new stock: Sai Life Sciences Limited. It sold out of 3: ICICI Bank Limited, NOCIL Limited, Alkem Laboratories Limited. It added shares in 1. It reduced 2.

How do I invest in Mahindra Manulife Manufacturing 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 Manufacturing Fund?

Renjith Sivaram (since 24-06-2024), Navin Matta (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.