Mahindra Manulife Multi Asset Allocation Fund is a Multi Asset fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹1,214 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned 4.2% and its Regular plan returned 2.7%.
NAV (Direct plan)
₹13.92
▼ 0.05% · 30-10-2026
NAV (Regular plan)
₹13.35
▼ 0.05% · 30-10-2026
Expense ratio
0.58%Direct1.89%Regular
0.58%
A year
Riskometer
Very High
Set by the fund house
1 year return
4.2%Direct2.7%Regular
4.2%
Total
Mahindra Manulife Multi Asset Allocation Fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹13.92 (down 0.05% that day); Regular Plan Growth ₹13.35 (down 0.05% that day).
This fund (Direct plan)
₹13.922
Mahindra Manulife Multi Asset Allocation Fund Returns vs Multi Asset Funds
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)
−1.20%
−2.61%
+0.40%
+4.23%
--
--
--
This fund (Regular)
−1.31%
−2.93%
−0.31%
+2.69%
--
--
--
Multi Asset average
−1.71%
−3.33%
−1.78%
+2.00%
--
--
--
Best in Multi Asset
+0.22%
+1.02%
+3.21%
+8.36%
--
--
--
Worst in Multi Asset
−3.85%
−5.28%
−5.92%
−3.66%
--
--
--
Rank in Multi Asset
14/37
6/36
5/34
9/31
--
--
--
Category rows compare the Direct plans of 37 Multi Asset funds. Rank 1 is the highest return. This fund's benchmark is NIFTY 500 TRI 45% + CRISIL Composite Bond Index 40% + Domestic Price of Physical Gold 10% + Domestic Price of Silver 5%. Returns of that index are not available to us, so the category average is the comparison.
Mahindra Manulife Multi Asset Allocation Fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
2026to date
+1.10%
−0.13%
2025
+22.74%
+20.76%
Mahindra Manulife Multi Asset Allocation 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 401 periods, one for each trading day from 17-03-2025 to 30-10-2026.
0%5%10%15%20%25%30%
Mahindra Manulife Multi Asset Allocation Fund (Direct)
Category average, 37 Multi Asset funds
May 2024 to May 2025Aug 2024 to Aug 2025Nov 2024 to Nov 2025Mar 2025 to Mar 2026Jun 2025 to Jun 2026Sept 2025 to Sept 2026
Mahindra Manulife Multi Asset Allocation Fund (Direct)Category average, 37 Multi Asset funds
0%
0%
Below 0%
3%
4%
0-5%
11%
21%
5-10%
32%
48%
10-15%
35%
17%
15-20%
15%
9%
20-25%
6%
1%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Category median
Beat category
1 year
401
15.8%
3.1%
29.5%
0%
12.3%
99%
2 years
155
13.7%
9.7%
16.8%
0%
11.3%
100%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Category median
Beat category
1 year
20
13.8%
−1.7%
28.1%
5%
11.2%
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 category" counts the periods in which the fund did better than the average of the 37 Multi Asset funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.
Mahindra Manulife Multi Asset Allocation Fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
Mahindra Manulife Multi Asset Allocation Fund (Direct)This fund
Category average
Return (CAGR)
+4.23%
+2.25%
Standard deviation
10.26%
10.59%
Sharpe ratio
-0.10
-0.28
Sortino ratio
-0.13
-0.38
Maximum drawdown
−9.5%
(23-03-2026)
−10.3%
(23-03-2026)
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.
Measure
Mahindra Manulife Multi Asset Allocation Fund (Direct)This fund
Category average
Return (CAGR)
+13.34%
+11.23%
Standard deviation
8.92%
9.04%
Sharpe ratio
0.83
0.59
Sortino ratio
1.13
0.79
Maximum drawdown
−9.5%
(23-03-2026)
−10.3%
(23-03-2026)
From daily NAVs, 15-03-2024 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.
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.
−12%−10%−8%−6%−4%−2%0%
Mahindra Manulife Multi Asset Allocation Fund (Direct)
Category average, 37 Multi Asset funds
20252026
Mahindra Manulife Multi Asset Allocation Fund (Direct)Category average, 37 Multi Asset funds
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
Mahindra Manulife Multi Asset Allocation Fund (Direct)
−9.5%
29-01-2026
23-03-2026
03-08-2026
4 months
−5.2%
Category average
−10.3%
29-01-2026
23-03-2026
21-08-2026
5 months
−6.1%
From the Direct plan's daily NAV since 15-03-2024, adjusted for unit splits, and the average of the 37 Multi Asset funds (Direct plans, each weighted the same) over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
Mahindra Manulife Multi Asset Allocation Fund vs Other Multi Asset Funds
The five Multi Asset 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 Multi Asset Allocation Fund Expense Ratio and Costs
What each plan charges a year, in force from 21-10-2026
Plan
Base expense ratio
Brokerage
Transaction costs
Levies and GST
Total expense ratio
Multi Asset median
Cost rank (1 = cheapest)
Direct
0.41%
0.04%
0.00%
0.13%
0.58%
0.85%
5/37
Regular
1.56%
0.04%
0.00%
0.29%
1.89%
2.15%
11/37
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 Multi Asset 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
2.69%
4.23%
1.54%
₹1,02,690
₹1,04,230
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 Multi Asset Allocation 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 15-03-2024 to 30-10-2026: 32 instalments, ₹3,20,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planMahindra Manulife Multi Asset Allocation Fund (Direct)
₹3,20,000
₹3,66,322
₹46,322
10.2%
Regular planMahindra Manulife Multi Asset Allocation Fund (Regular)
₹3,20,000
₹3,58,229
₹38,229
8.4%
Category averageCategory average, 37 Multi Asset funds
₹3,20,000
₹3,51,714
₹31,714
7.0%
₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L
Direct planMahindra Manulife Multi Asset Allocation Fund (Direct)
Regular planMahindra Manulife Multi Asset Allocation Fund (Regular)
Category averageCategory average, 37 Multi Asset funds
Amount invested
20252026
Direct planMahindra Manulife Multi Asset Allocation Fund (Direct)Regular planMahindra Manulife Multi Asset Allocation Fund (Regular)Category averageCategory average, 37 Multi Asset fundsAmount invested
From each plan's published NAV (Growth option) 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 Multi Asset Allocation Fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
52.2%Equity
Asset
Fund
Category
Equity
52.2%
58.2%
Cash and others
28.4%
25.6%
Debt
19.4%
16.2%
Market cap of stocks
Market cap
Fund
Category
Large Cap
35.1%
35.1%
Mid Cap
6.7%
11.8%
Small Cap
10.4%
9.3%
Share of the whole fund. Category: the average of the Multi Asset 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.
Credit rating
Bonds and money market papers by credit rating, % of the fund. Category: the average of 37 Multi Asset funds.
Rating
Fund
Category
Sovereign
3.5%
5.3%
AAA and A1+
8.1%
8.2%
AA
7.7%
2.4%
Mahindra Manulife Multi Asset Allocation Fund Sector Allocation
Sector allocation of the fund's stocks as on 30-09-2026
Largest sectors
Banks11.8%
Pharmaceuticals & Biotechnology4.6%
Industrial Products3.4%
IT - Software3.0%
Power2.4%
Retailing2.3%
Finance2.2%
Telecom - Services2.1%
Auto Components2.1%
Automobiles2.0%
The ten largest of 27 sectors. The other 17 add up to 16.3%.
Sector changes
Sector
July 2026
August 2026
September 2026
Change
Banks
12.3%
12.0%
11.8%
−0.5%
Pharmaceuticals & Biotechnology
4.4%
4.7%
4.6%
+0.2%
Industrial Products
3.3%
3.6%
3.4%
+0.1%
IT - Software
3.4%
3.3%
3.0%
−0.4%
Power
2.7%
2.4%
2.4%
−0.3%
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 Multi Asset Allocation Fund Portfolio Holdings
As on 30-09-2026 · 81 holdings · from the fund house's monthly portfolio
Holdings
Sector / Rating
Weight%
Holdings trend
1M change
ICICI Prudential Gold ETF
12.32%
Mahindra Manulife Liquid Fund -Direct Plan -Growth
4.94%
HDFC Bank Limited
Banks
3.50%
0.0%
ICICI Bank Limited
Banks
3.39%
0.0%
Brookfield India Real Estate Trust
Realty
3.36%
8.42% Muthoot Finance Limited 2029 (FRN) · Bond
CRISIL AA+
3.09%
Nippon India Silver ETF
2.87%
Bharti Airtel Limited
Telecom - Services
2.08%
0.0%
8.85% TVS Credit Services Limited 2027 · Bond
CRISIL AA+
2.07%
Divi's Laboratories Limited
Pharmaceuticals & Biotechnology
2.02%
0.0%
Reliance Industries Limited
Petroleum Products
1.99%
0.0%
8.7% Shriram Finance Limited 2028 · Bond
CRISIL AAA
1.86%
State Bank of India
Banks
1.62%
0.0%
7.4% Bharti Telecom Limited 2029 · Bond
CRISIL AAA
1.61%
8.02% Cholamandalam Investment and Finance Company Ltd 2029 (FRN) · Bond
ICRA AA+
1.44%
SPR Auto Technologies Ltd
Auto Components
1.40%
0.0%
Kotak Mahindra Bank Ltd
Banks
1.40%
0.0%
7.71% Government of India 2066 · Government security
SOVEREIGN
1.40%
Aditya Vision Ltd
Retailing
1.27%
0.0%
Axis Bank Limited
Banks
1.24%
0.0%
7.45% Power Finance Corporation Limited 2028 · Bond
CRISIL AAA
1.23%
7.77% Bajaj Finance Limited 2029 · Bond
CRISIL AAA
1.22%
7.21% Embassy Office Parks REIT 2028 · Bond
CRISIL AAA
1.22%
Sun Pharmaceutical Industries Limited
Pharmaceuticals & Biotechnology
1.05%
0.0%
Persistent Systems Ltd
IT - Software
1.03%
0.0%
Tech Mahindra Limited
IT - Software
1.01%
0.0%
Infosys Limited
IT - Software
0.99%
0.0%
Eternal Limited
Retailing
0.98%
0.0%
Larsen & Toubro Limited
Construction
0.98%
0.0%
6.98% State Government Securities 2037 · State government security
SOVEREIGN
0.96%
Inox India Limited
Industrial Products
0.94%
0.0%
NTPC Limited
Power
0.94%
0.0%
Tata Steel Limited
Ferrous Metals
0.92%
0.0%
PTC Industries Ltd
Industrial Products
0.92%
0.0%
Coromandel International Limited
Fertilizers & Agrochemicals
0.89%
0.0%
Tata Power Company Limited
Power
0.89%
0.0%
Embassy Office Parks REIT
Realty
0.85%
Bajaj Finance Ltd
Finance
0.85%
0.0%
Mahindra & Mahindra Limited
Automobiles
0.81%
+26.4%
Sai Life Sciences Limited
Pharmaceuticals & Biotechnology
0.76%
New
Anthem Biosciences Limited
Pharmaceuticals & Biotechnology
0.74%
0.0%
Hindustan Aeronautics Limited
Aerospace & Defense
0.73%
+7.6%
S. P. Apparels Limited
Textiles & Apparels
0.73%
0.0%
Grasim Industries Limited
Cement & Cement Products
0.72%
0.0%
Shriram Finance Limited
Finance
0.71%
0.0%
8.42% Godrej Industries Limited 2027 · Bond
CRISIL AA+
0.70%
Nexus Select Trust - REIT
Realty
0.68%
L&T Finance Limited
Finance
0.67%
0.0%
LG Balakrishnan & Bros Limited
Auto Components
0.66%
+20.4%
Hyundai Motor India Ltd
Automobiles
0.64%
0.0%
Nippon Life India Asset Management Limited
Capital Markets
0.63%
+9.2%
Godfrey Phillips India Limited
Cigarettes & Tobacco Products
0.62%
+9.7%
Union Bank of India
Banks
0.62%
+41.0%
ISGEC Heavy Engineering Limited
Construction
0.61%
+10.6%
TVS Motor Company Limited
Automobiles
0.60%
0.0%
Power Grid Corporation of India Limited
Power
0.60%
0.0%
K.P.R. Mill Limited
Textiles & Apparels
0.59%
0.0%
Oil & Natural Gas Corporation Limited
Oil
0.59%
+39.7%
Kajaria Ceramics Limited
Consumer Durables
0.59%
+11.5%
Shree Cement Limited
Cement & Cement Products
0.57%
0.0%
Raajmarg Infra Investment Trust
Transport Infrastructure
0.57%
Technocraft Industries (India) Limited
Industrial Products
0.57%
0.0%
SBI Life Insurance Company Limited
Insurance
0.56%
+21.2%
Kirloskar Brothers Limited
Industrial Products
0.55%
0.0%
Bharat Electronics Limited
Aerospace & Defense
0.55%
+11.7%
National Aluminium Company Limited
Non - Ferrous Metals
0.54%
+9.7%
Oil India Limited
Oil
0.54%
0.0%
Tata Consumer Products Limited
Agricultural Food & other Products
0.53%
+11.5%
Tata Motors Ltd
Agricultural, Commercial & Construction Vehicles
0.53%
0.0%
Hindalco Industries Limited
Non - Ferrous Metals
0.53%
0.0%
Hindustan Unilever Limited
Diversified FMCG
0.49%
+23.6%
JK Cement Limited
Cement & Cement Products
0.49%
0.0%
Ingersoll Rand (India) Limited
Industrial Products
0.46%
0.0%
7.63% State Government Securities 2036 · State government security
SOVEREIGN
0.41%
8.55% Aditya Birla Real Estate Limited 2029 · Bond
CRISIL AA
0.41%
Archean Chemical Industries Limited
Chemicals & Petrochemicals
0.40%
0.0%
7.17% Tata Capital Housing Finance Limited 2030 · Bond
CRISIL AAA
0.40%
7.79% Bajaj Housing Finance Limited 2031 · Bond
CRISIL AAA
0.40%
7.25% State Government Securities 2037 · State government security
SOVEREIGN
0.39%
7.24% Government of India 2055 · Government security
SOVEREIGN
0.39%
7.05% Sundaram Finance Limited 2028 · Bond
ICRA AAA
0.20%
Mahindra Manulife Multi Asset Allocation Fund Stocks Bought and Sold
All changes are between August 2026 and September 2026
More
Stocks bought and sold in September 2026
Mahindra & Mahindra Limited
↑Added
+26.4%
0.81%
Gland Pharma Limited
↓Sold out
−100%
was 0.80%
Sai Life Sciences Limited
↑New
New
0.76%
Hindustan Aeronautics Limited
↑Added
+7.6%
0.73%
LG Balakrishnan & Bros Limited
↑Added
+20.4%
0.66%
Nippon Life India Asset Management Limited
↑Added
+9.2%
0.63%
Godfrey Phillips India Limited
↑Added
+9.7%
0.62%
Union Bank of India
↑Added
+41.0%
0.62%
ISGEC Heavy Engineering Limited
↑Added
+10.6%
0.61%
Oil & Natural Gas Corporation Limited
↑Added
+39.7%
0.59%
Kajaria Ceramics Limited
↑Added
+11.5%
0.59%
SBI Life Insurance Company Limited
↑Added
+21.2%
0.56%
Bharat Electronics Limited
↑Added
+11.7%
0.55%
National Aluminium Company Limited
↑Added
+9.7%
0.54%
Tata Consumer Products Limited
↑Added
+11.5%
0.53%
Hindustan Unilever Limited
↑Added
+23.6%
0.49%
GAIL (India) Limited
↓Sold out
−100%
was 0.44%
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 Multi Asset Allocation Fund Overview
Fund facts from the scheme summary document, as on 16-10-2026
Expense ratio (Direct)
0.58%
Expense ratio (Regular)
1.89%
Category
Multi Asset
Risk
Very High
Launch date
13-03-2024
Minimum investment
₹1,000
Minimum additional investment
₹1,000
AUM
₹1,214.04 Cr (30-09-2026)
Lock in
None
Scheme code (Direct)
152443
ISIN (Direct)
INF174V01BW2
Scheme code (Regular)
152441
ISIN (Regular)
INF174V01BT8
NAV history
From 15-03-2024, 2.6 years
Benchmark
NIFTY 500 TRI 45% + CRISIL Composite Bond Index 40% + Domestic Price of Physical Gold 10% + Domestic Price of Silver 5%
Exit load
Exit load of 0.5%, if redeemed within 3 months.
Tax on Mahindra Manulife Multi Asset Allocation Fund returns
How the gain is taxed depends on what the fund holds. A fund with 65% or more in Indian stocks is taxed as an equity fund: 20% within 1 year, 12.5% after, on gains above ₹1.25 lakh a year.
A fund with 65% or more in debt is taxed at your slab rate. Any other fund: your slab rate within 2 years, 12.5% after.
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
₹13.922
30-10-2026
direct
IDCW
₹13.0991
30-10-2026
regular
Growth
₹13.3531
30-10-2026
regular
IDCW
₹12.5418
30-10-2026
About Mahindra Manulife Multi Asset Allocation Fund
Mahindra Manulife Multi Asset Allocation Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is Multi Asset. It was launched on 13-03-2024. Its benchmark is NIFTY 500 TRI 45% + CRISIL Composite Bond Index 40% + Domestic Price of Physical Gold 10% + Domestic Price of Silver 5%. At the end of September 2026 it held 81 securities.
Fund Manager
Renjith Sivaram
Fund manager of Mahindra Manulife Multi Asset Allocation Fund, since 13-03-2024
Rahul Pal
Fund manager of Mahindra Manulife Multi Asset Allocation Fund, since 13-03-2024
Kush Sonigara
Fund manager of Mahindra Manulife Multi Asset Allocation Fund, since 01-01-2026
Frequently Asked Questions for Mahindra Manulife Multi Asset Allocation Fund
What is the current NAV of Mahindra Manulife Multi Asset Allocation Fund?
The Direct plan NAV is ₹13.922. The Regular plan NAV is ₹13.3531, as on 30-10-2026.
What are the returns of Mahindra Manulife Multi Asset Allocation Fund?
The Direct plan returned +4.23% in 1 year. The Regular plan returned +2.69% in 1 year. These figures are as on 30-10-2026.
What is the expense ratio of Mahindra Manulife Multi Asset Allocation Fund?
The Direct plan charges 0.58% a year. The Regular plan charges 1.89% a year. This is the figure the fund house reported to AMFI, in force from 21-10-2026.
What is the AUM of Mahindra Manulife Multi Asset Allocation Fund?
Mahindra Manulife Multi Asset Allocation Fund managed ₹1,214.04 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of Mahindra Manulife Multi Asset Allocation Fund?
At the end of September 2026 the largest holdings were GOLDIETF (12.32%), Mahindra Manulife Liquid Fund -Direct Plan -Growth (4.94%), HDFCBANK (3.50%), ICICIBANK (3.39%), BIRET-RR (3.36%). The fund held 81 securities in all.
What did Mahindra Manulife Multi Asset Allocation Fund buy and sell in September 2026?
It bought 1 new stock: Sai Life Sciences Limited. It sold out of 2: Gland Pharma Limited, GAIL (India) Limited. It added shares in 14.
How do I invest in Mahindra Manulife Multi Asset Allocation 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 Multi Asset Allocation 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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