Mahindra Manulife Short Term Fund

Short DurationDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Mahindra Manulife Short Term Fund is a Short Duration fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹79 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.5% a year and its Regular plan returned 6.5% a year.

NAV (Direct plan): ₹14.25; ▲ 0.04%30-10-2026
NAV (Regular plan): ₹13.49; ▲ 0.03%30-10-2026
Expense ratio: 0.33%Direct1.24%Regular; 0.33%; A year
Riskometer: Moderate; Set by the fund house
3 year return: 7.5%Direct6.5%Regular; 7.5%; A year

Mahindra Manulife Short Term Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹14.25 (up 0.04% that day); Regular Plan Growth ₹13.49 (up 0.03% that day).

This fund (Direct plan)

₹14.2471

Mahindra Manulife Short Term Fund Returns vs Short Duration 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)	−0.29%	+0.05%	+2.45%	+4.78%	+7.49%	+6.52%	--
This fund (Regular)	−0.36%	−0.18%	+1.98%	+3.83%	+6.47%	+5.51%	--
Short Duration average	−0.14%	+0.30%	+2.50%	+4.11%	+6.88%	+6.62%	--
Best in Short Duration	+0.11%	+0.75%	+3.17%	+5.54%	+7.64%	+10.75%	--
Worst in Short Duration	−0.34%	−0.09%	+2.15%	−3.88%	−1.14%	+6.01%	--
Rank in Short Duration	24/25	21/24	12/24	5/23	3/23	6/20	--

Category rows compare the Direct plans of 25 Short Duration funds. Rank 1 is the highest return. This fund's benchmark is CRISIL Short Duration Debt A-II Index. Returns of that index are not available to us, so the category average is the comparison.

Mahindra Manulife Short Term Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+3.86%	+3.08%
2025	+8.19%	+7.15%
2024	+8.54%	+7.48%
2023	+7.65%	+6.62%
2022	+3.72%	+2.72%

Mahindra Manulife Short Term 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 648 periods, one for each trading day from 26-02-2024 to 30-10-2026.

0%2%4%6%8%10%

May 2021
to
May 2024Oct 2021
to
Oct 2024Apr 2022
to
Apr 2025Sept 2022
to
Sept 2025Mar 2023
to
Mar 2026Aug 2023
to
Aug 2026

Mahindra Manulife Short Term Fund (Direct)Category average, 25 Short Duration funds

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	1,132	7.3%	2.5%	10.3%	0%	6.9%	73%
2 years	887	7.7%	4.6%	9.0%	0%	7.2%	71%
3 years	648	7.7%	5.7%	8.4%	0%	7.1%	63%
5 years	164	6.6%	6.4%	6.9%	0%	6.5%	100%

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	57	7.4%	1.6%	10.7%	0%	6.8%	79%
2 years	45	7.5%	4.4%	9.7%	0%	7.0%	78%
3 years	33	7.7%	6.3%	9.0%	0%	7.3%	94%

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 25 Short Duration funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.

Mahindra Manulife Short Term Fund Risk

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

Risk and return

Measure	Mahindra Manulife Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+4.78%	+4.16%
Standard deviation	1.19%	1.17%
Sharpe ratio	-0.39	-0.93
Sortino ratio	-0.54	-1.23
Maximum drawdown	−0.64% (23-10-2026)	−0.75% (02-04-2026)

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 Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+7.49%	+6.89%
Standard deviation	0.93%	0.97%
Sharpe ratio	1.56	0.89
Sortino ratio	2.36	1.27
Maximum drawdown	−0.64% (23-10-2026)	−0.75% (02-04-2026)

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.

Measure	Mahindra Manulife Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.52%	+6.33%
Standard deviation	0.95%	1.01%
Sharpe ratio	0.76	0.52
Sortino ratio	1.06	0.75
Maximum drawdown	−1.1% (09-05-2022)	−0.98% (06-05-2022)

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.

Measure	Mahindra Manulife Short Term Fund (Direct)This fund	Category average
Return (CAGR)	+6.43%	+6.28%
Standard deviation	0.92%	0.97%
Sharpe ratio	1.02	0.81
Sortino ratio	1.43	1.17
Maximum drawdown	−1.1% (09-05-2022)	−0.98% (06-05-2022)

From daily NAVs, 25-02-2021 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.

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.

−1.2%−1%−0.8%−0.6%−0.4%−0.2%0%

20222023202420252026

Mahindra Manulife Short Term Fund (Direct)Category average, 25 Short Duration funds

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
Mahindra Manulife Short Term Fund (Direct)	−1.1%	07-04-2022	09-05-2022	13-07-2022	2 months	−0.48%
Category average	−0.98%	07-04-2022	06-05-2022	06-07-2022	2 months	−0.28%

From the Direct plan's daily NAV since 25-02-2021, adjusted for unit splits, and the average of the 25 Short Duration 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 Short Term Fund vs Other Short Duration Funds

The five Short Duration 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
Bandhan Short Term Fund	1/23	8,680	0.39%	+5.54%	+7.64%	--	--	1.61	2.54	Compare
Axis Short Term Fund	2/23	7,425	0.40%	+4.82%	+7.58%	--	--	1.63	2.53	Compare
Mahindra Manulife Short Term Fund	3/23	79	0.33%	+4.78%	+7.49%	--	--	1.56	2.36
Bank of India Short Term Fund	4/23	259	0.54%	+4.34%	+7.48%	--	--	1.01	2.34	Compare
ICICI Prudential Short Term Fund	4/23	18,890	0.45%	+4.92%	+7.48%	--	--	1.55	2.34	Compare

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 Short Term Fund Expense Ratio and Costs

What each plan charges a year, in force from 01-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Short Duration median	Cost rank (1 = cheapest)
Direct	0.27%	0.01%	0.00%	0.05%	0.33%	0.37%	6/25
Regular	1.09%	0.01%	0.00%	0.14%	1.24%	0.99%	25/25

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 Short Duration 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	3.83%	4.78%	0.95%	₹1,03,830	₹1,04,780
3 years	6.47%	7.49%	1.02% a year	₹1,20,693	₹1,24,195
5 years	5.51%	6.52%	1.01% a year	₹1,30,758	₹1,37,137

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 Short Term 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 25-02-2021 to 30-10-2026: 69 instalments, ₹6,90,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planMahindra Manulife Short Term Fund (Direct)	₹6,90,000	₹8,39,210	₹1,49,210	6.7%
Regular planMahindra Manulife Short Term Fund (Regular)	₹6,90,000	₹8,14,923	₹1,24,923	5.7%
Category averageCategory average, 25 Short Duration funds	₹6,90,000	₹8,30,587	₹1,40,587	6.4%

₹0₹2.0 L₹4.0 L₹6.0 L₹8.0 L₹10.0 L

20222023202420252026

Direct planMahindra Manulife Short Term Fund (Direct)Regular planMahindra Manulife Short Term Fund (Regular)Category averageCategory average, 25 Short Duration 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 Short Term Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

95.6%Debt

Asset	Fund	Category
Debt	95.6%	92.0%
Cash and others	4.4%	8.0%

Credit rating

Bonds and money market papers by credit rating, % of the fund. Category: the average of 25 Short Duration funds.

Rating	Fund	Category
Sovereign	9.9%	11.4%
AAA and A1+	56.0%	71.2%
AA	29.7%	9.4%

Mahindra Manulife Short Term Fund Portfolio Holdings

As on 30-09-2026 · 23 holdings · from the fund house's monthly portfolio

Holdings	Rating	Weight%
7.77% REC Limited 2028 · Bond	CRISIL AAA	6.36%
7.45% Power Finance Corporation Limited 2028 · Bond	CRISIL AAA	6.33%
8.55% Aditya Birla Real Estate Limited 2029 · Bond	CRISIL AA	6.32%
7.73% Embassy Office Parks REIT 2029 · Bond	CRISIL AAA	6.31%
7.27% Tata Capital Housing Finance Limited 2028 · Bond	CRISIL AAA	6.27%
7.68% Godrej Seeds & Genetics Limited 2028 · Bond	CRISIL AA	6.25%
6.9601% Mindspace Business Parks REIT 2028 · Bond	ICRA AAA	6.25%
7.16% National Bank For Agriculture and Rural Development 2029 · Bond	ICRA AAA	6.24%
7.29% Small Industries Dev Bank of India 2029 · Bond	CRISIL AAA	5.00%
8.75% Bharti Telecom Limited 2028 · Bond	CRISIL AAA	3.84%
8.42% Godrej Industries Limited 2027 · Bond	CRISIL AA+	3.82%
8.42% Muthoot Finance Limited 2029 (FRN) · Bond	CRISIL AA+	3.81%
7.71% Government of India 2066 · Government security	SOVEREIGN	3.81%
8.3% JM Financial Services Limited 2027 · Bond	CRISIL AA	3.80%
8.7% Shriram Finance Limited 2028 · Bond	CRISIL AAA	3.20%
7.63% State Government Securities 2036 · State government security	SOVEREIGN	3.13%
7.29% National Housing Bank 2031 · Bond	CARE AAA	3.12%
7.08% Bajaj Housing Finance Limited 2030 · Bond	CRISIL AAA	3.06%
6.98% State Government Securities 2037 · State government security	SOVEREIGN	2.98%
9.12% Piramal Finance Limited 2027 · Bond	CARE AA+	2.55%
8.40% Godrej Industries Limited 2027 · Bond	CRISIL AA+	1.91%
9.61% 360 One Prime Limited 2027 · Bond	CRISIL AA	1.28%
Corporate Debt Market Development Fund Class A2		0.33%

Mahindra Manulife Short Term Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
Mahindra Manulife Dynamic Term FundDynamic Bond · Mahindra Manulife	23.7%	7	Compare
Mahindra Manulife Ultra Short To Short Term FundLow Duration · Mahindra Manulife	18.5%	8	Compare
JioBlackRock Ultra Short to Short Term FundLow Duration · Jio BlackRock	13.8%	4	Compare
Kotak Credit Risk FundCredit Risk · Kotak Mahindra	11.4%	5	Compare
Mahindra Manulife Multi Asset Allocation FundMulti Asset · Mahindra Manulife	10.1%	8	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 Short Term Fund Overview

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

Expense ratio (Direct): 0.33%
Expense ratio (Regular): 1.24%
Category: Short Duration
Risk: Moderate
Benchmark: CRISIL Short Duration Debt A-II Index
Launch date: 23-02-2021
Minimum investment: ₹1,000
Minimum additional investment: ₹1,000
AUM: ₹78.65 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 148729
ISIN (Direct): INF174V01AM5
Scheme code (Regular): 148727
ISIN (Regular): INF174V01AJ1
NAV history: From 25-02-2021, 5.7 years

Exit load: Nil

Tax on Mahindra Manulife Short Term Fund returns

Mahindra Manulife Short Term Fund is taxed as a debt fund: 65% or more of it is in bonds and money market papers.
For units bought on or after 01-04-2023, the gain is added to your income and taxed at your slab rate, however long you hold the units.
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	₹14.2471	30-10-2026
direct	IDCW	₹12.1789	30-10-2026
regular	Growth	₹13.4928	30-10-2026
regular	IDCW	₹11.4658	30-10-2026

About Mahindra Manulife Short Term Fund

Mahindra Manulife Short Term Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is Short Duration. It was launched on 23-02-2021. Its benchmark is CRISIL Short Duration Debt A-II Index. At the end of September 2026 it held 23 securities.

Fund Manager

Rahul Pal
Fund manager of Mahindra Manulife Short Term Fund, since 23-02-2021
Kush Sonigara
Fund manager of Mahindra Manulife Short Term Fund, since 01-01-2026

See all funds of Mahindra Manulife Mutual Fund

AUM change

September 2026: ₹78.65 Cr; −3.22% from August 2026
August 2026: ₹81.27 Cr; −1.38% from July 2026
July 2026: ₹82.41 Cr; −1.74% from June 2026

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

Compare Mahindra Manulife Short Term Fund with Other Funds

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

Mahindra Manulife Short Term vs Bandhan Short TermShort Duration
Mahindra Manulife Short Term vs Axis Short TermShort Duration
Mahindra Manulife Short Term vs Bank of India Short TermShort Duration
Mahindra Manulife Short Term vs ICICI Prudential Short TermShort Duration
Mahindra Manulife Short Term vs Mahindra Manulife Dynamic Term23.7% overlap
Mahindra Manulife Short Term vs Mahindra Manulife Ultra Short To Short Term18.5% overlap
Mahindra Manulife Short Term vs JioBlackRock Ultra Short to Short Term13.8% overlap
Mahindra Manulife Short Term vs Kotak Credit Risk11.4% overlap

Compare with any other fund

Frequently Asked Questions for Mahindra Manulife Short Term Fund

What is the current NAV of Mahindra Manulife Short Term Fund?

The Direct plan NAV is ₹14.2471. The Regular plan NAV is ₹13.4928, as on 30-10-2026.

What are the returns of Mahindra Manulife Short Term Fund?

The Direct plan returned +4.78% in 1 year, +7.49% a year over 3 years, +6.52% a year over 5 years. The Regular plan returned +3.83% in 1 year, +6.47% a year over 3 years, +5.51% a year over 5 years. These figures are as on 30-10-2026.

What is the expense ratio of Mahindra Manulife Short Term Fund?

The Direct plan charges 0.33% a year. The Regular plan charges 1.24% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.

What is the AUM of Mahindra Manulife Short Term Fund?

Mahindra Manulife Short Term Fund managed ₹78.65 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Mahindra Manulife Short Term Fund?

At the end of September 2026 the largest holdings were 7.77% REC Limited 2028 (6.36%), 7.45% Power Finance Corporation Limited 2028 (6.33%), 8.55% Aditya Birla Real Estate Limited 2029 (6.32%), 7.73% Embassy Office Parks REIT 2029 (6.31%), 7.27% Tata Capital Housing Finance Limited 2028 (6.27%). The fund held 23 securities in all.

How do I invest in Mahindra Manulife Short Term 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 Short Term Fund?

Rahul Pal (since 23-02-2021), Kush Sonigara (since 01-01-2026).

What is the exit load of Mahindra Manulife Short Term Fund?

Nil

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.