MahindraManulife Banking & Financial Services Fund

SectoralDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

MahindraManulife Banking & Financial Services Fund is a Sectoral fund run by Mahindra Manulife Mutual Fund. On 30-09-2026, it managed ₹445 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned −3.3% and its Regular plan returned −5.0%. Its benchmark, Nifty Financial Services TRI, returned −8.9% over the same year.

NAV (Direct plan): ₹10.16; ▼ 0.79%30-10-2026
NAV (Regular plan): ₹9.93; ▼ 0.79%30-10-2026
Expense ratio: 1.13%Direct2.77%Regular; 1.13%; A year
Riskometer: Very High; Set by the fund house
1 year return: −3.3%Direct−5.0%Regular; −3.3%; Total

MahindraManulife Banking & Financial Services Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹10.16 (down 0.79% that day); Regular Plan Growth ₹9.93 (down 0.79% that day).

This fund (Direct plan)

₹10.1552

MahindraManulife Banking & Financial Services Fund Returns vs Nifty Financial Services 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)	−2.34%	−6.10%	−2.50%	−3.33%	--	--	--
This fund (Regular)	−2.47%	−6.49%	−3.32%	−5.00%	--	--	--
Nifty Financial Services TRI	+0.30%	−5.63%	−2.88%	−8.88%	+9.77%	+6.64%	+12.73%
Sectoral average	−1.70%	−4.49%	+2.30%	−0.58%	--	--	--
Best in Sectoral	+7.03%	+2.10%	+17.99%	+19.53%	--	--	--
Worst in Sectoral	−7.36%	−8.92%	−7.57%	−9.47%	--	--	--
Rank in Sectoral	10/20	11/19	12/19	11/17	--	--	--

Category rows compare the Direct plans of 20 Sectoral funds. Rank 1 is the highest return.

MahindraManulife Banking & Financial Services Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty Financial Services TRI
2026to date	−5.39%	−6.74%	−9.69%

MahindraManulife Banking & Financial Services 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 70 periods, one for each trading day from 21-07-2026 to 30-10-2026.

−15%−10%−5%0%5%10%15%20%

Jul 2025
to
Jul 2026Aug 2025
to
Aug 2026Sept 2025
to
Sept 2026Sept 2025
to
Sept 2026Oct 2025
to
Oct 2026Oct 2025
to
Oct 2026

MahindraManulife Banking & Financial Services Fund (Direct)Nifty Financial Services TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	70	8.8%	−4.6%	17.4%	10%	−1.6%	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 Financial Services TRI over the same days. Past returns do not promise future returns.

MahindraManulife Banking & Financial Services Fund Risk

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

Risk and return

Measure	MahindraManulife Banking & Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	−3.33%	−8.88%
Standard deviation	18.14%	17.58%
Sharpe ratio	-0.47	-0.80
Sortino ratio	-0.65	-1.11
Maximum drawdown	−15.7% (31-03-2026)	−17.3% (30-03-2026)
Beta	1.00	1.00
Alpha	+5.54%	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	MahindraManulife Banking & Financial Services Fund (Direct)This fund	Nifty Financial Services TRI
Return (CAGR)	+1.19%	−5.75%
Standard deviation	16.54%	16.15%
Sharpe ratio	-0.25	-0.68
Sortino ratio	-0.34	-0.95
Maximum drawdown	−15.7% (31-03-2026)	−17.3% (30-03-2026)
Beta	0.99	1.00
Alpha	+6.78%	0.00%

From daily NAVs, 21-07-2025 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.

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.

−20%−15%−10%−5%0%

2026

MahindraManulife Banking & Financial Services Fund (Direct)Nifty Financial Services TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
MahindraManulife Banking & Financial Services Fund (Direct)	−15.7%	26-02-2026	31-03-2026	21-08-2026	5 months	−9.8%
Nifty Financial Services TRI	−17.3%	18-02-2026	30-03-2026	Not yet	--	−12.4%

From the Direct plan's daily NAV since 21-07-2025, adjusted for unit splits, and Nifty Financial Services TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

MahindraManulife Banking & Financial Services Fund vs Other Sectoral Funds

The five Sectoral 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
DSP Healthcare Fund	1/9	3,750	0.76%	+15.40%	+21.77%	+2.89%	0.77	1.25	1.77	Compare
Nippon India Pharma Fund	2/9	9,166	0.99%	+9.05%	+18.56%	−2.50%	0.88	0.97	1.39	Compare
Bandhan Transportation and Logistics Fund	3/9	771	1.07%	−1.82%	+17.11%	+1.71%	0.84	0.69	0.97	Compare
Nippon India Power & Infra Fund	4/9	7,867	1.11%	−2.17%	+16.41%	+2.80%	0.97	0.59	0.78	Compare
Invesco India Financial Services Fund	5/9	1,789	0.96%	−2.22%	+15.03%	+5.53%	0.93	0.55	0.77	Compare
MahindraManulife Banking & Financial Services Fund	11/17	445	1.13%	−3.33%	--	--	--	--	--

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.

MahindraManulife Banking & Financial Services 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	Sectoral median	Cost rank (1 = cheapest)
Direct	0.65%	0.12%	0.01%	0.35%	1.13%	1.07%	14/20
Regular	2.10%	0.12%	0.01%	0.54%	2.77%	2.51%	16/20

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 Sectoral 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	−5.00%	−3.33%	1.67%	₹95,000	₹96,670

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.

MahindraManulife Banking & Financial Services 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 21-07-2025 to 30-10-2026: 16 instalments, ₹1,60,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planMahindraManulife Banking & Financial Services Fund (Direct)	₹1,60,000	₹1,56,250	−₹3,750	−3.3%
Regular planMahindraManulife Banking & Financial Services Fund (Regular)	₹1,60,000	₹1,54,353	−₹5,647	−5.0%
Nifty Financial Services TRI	₹1,60,000	₹1,51,342	−₹8,658	−7.7%
Category averageCategory average, 20 Sectoral funds	₹1,60,000	₹1,61,727	₹1,727	1.5%

₹0₹50,000₹1.0 L₹1.5 L₹2.0 L

2026

Direct planMahindraManulife Banking & Financial Services Fund (Direct)Regular planMahindraManulife Banking & Financial Services Fund (Regular)Nifty Financial Services TRICategory averageCategory average, 20 Sectoral 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.

MahindraManulife Banking & Financial Services Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

97.5%Equity

Asset	Fund	Category
Equity	97.5%	95.6%
Cash and others	2.5%	3.7%

Market cap of stocks

Market cap	Fund	Category
Large Cap	56.2%	44.1%
Mid Cap	26.8%	21.8%
Small Cap	13.5%	26.9%
Not on AMFI's list	1.0%	2.3%

Share of the whole fund. Category: the average of the Sectoral 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.

MahindraManulife Banking & Financial Services Fund Sector Allocation

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

Largest sectors

Banks54.3%
Finance19.8%
Capital Markets12.9%
Insurance5.5%
Financial Technology (Fintech)5.0%

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Banks	50.1%	50.0%	54.3%	+4.2%
Finance	22.8%	22.5%	19.8%	−3.0%
Capital Markets	14.2%	11.1%	12.9%	−1.3%
Insurance	5.8%	5.5%	5.5%	−0.3%
Financial Technology (Fintech)	3.9%	5.9%	5.0%	+1.1%

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.

MahindraManulife Banking & Financial Services Fund Portfolio Holdings

As on 30-09-2026 · 31 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
ICICI Bank Limited	Banks	11.88%	0.0%
HDFC Bank Limited	Banks	10.18%	+24.6%
Axis Bank Limited	Banks	7.50%	0.0%
State Bank of India	Banks	5.39%	0.0%
Multi Commodity Exchange of India Limited	Capital Markets	4.95%	−10.1%
Shriram Finance Limited	Finance	4.92%	0.0%
Bajaj Finance Ltd	Finance	4.54%	0.0%
Kotak Mahindra Bank Ltd	Banks	4.34%	+31.5%
Ujjivan Small Finance Bank Limited	Banks	4.28%	+14.4%
Aditya Birla Capital Limited	Finance	3.79%	0.0%
One 97 Communications Limited	Financial Technology (Fintech)	3.34%	0.0%
Nippon Life India Asset Management Limited	Capital Markets	2.89%	0.0%
Karur Vysya Bank Limited	Banks	2.86%	0.0%
SBI Life Insurance Company Limited	Insurance	2.86%	0.0%
Max Financial Services Limited	Insurance	2.59%	0.0%
Angel One Limited	Capital Markets	2.19%	+234.3%
IndusInd Bank Limited	Banks	2.05%	0.0%
Bandhan Bank Limited	Banks	1.88%	0.0%
360 One WAM Limited	Capital Markets	1.85%	+100.0%
Piramal Finance Limited	Finance	1.66%	+526.3%
PB Fintech Limited	Financial Technology (Fintech)	1.65%	0.0%
PNB Housing Finance Limited	Finance	1.25%	0.0%
Cholamandalam Investment and Finance Company Limited	Finance	1.17%	−42.0%
Bank of Maharashtra	Banks	1.07%	0.0%
DCB Bank Limited	Banks	1.04%	0.0%
SBI Funds Management Limited	Capital Markets	1.03%	0.0%
Union Bank of India	Banks	0.96%	0.0%
L&T Finance Limited	Finance	0.94%	−40.4%
Bajaj Finserv Limited	Finance	0.86%	0.0%
Indian Bank	Banks	0.85%	0.0%
Tata Capital Limited	Finance	0.71%	−50.8%

MahindraManulife Banking & Financial Services Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

HDFC Bank Limited	Added	+24.6%	10.18%
Multi Commodity Exchange of India Limited	Reduced	−10.1%	4.95%
Kotak Mahindra Bank Ltd	Added	+31.5%	4.34%
Ujjivan Small Finance Bank Limited	Added	+14.4%	4.28%
Angel One Limited	Added	+234.3%	2.19%
Cholamandalam Investment and Finance Company Limited	Reduced	−42.0%	1.17%
360 One WAM Limited	Added	+100.0%	1.85%
L&T Finance Limited	Reduced	−40.4%	0.94%
Piramal Finance Limited	Added	+526.3%	1.66%
Tata Capital Limited	Reduced	−50.8%	0.71%
Fedbank Financial Services Ltd	Sold out	−100%	was 0.99%
BSE Limited	Sold out	−100%	was 0.15%

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 MahindraManulife Banking & Financial Services Fund bought and sold

MahindraManulife Banking & Financial Services Fund Portfolio Overlap

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

Fund	Overlap	Holdings in common
Canara Robeco Banking and Financial Services FundSectoral · Canara Robeco	69.5%	19	Compare
Tata Banking & Financial Services FundThematic · Tata	67.4%	21	Compare
Kotak Banking And Financial Services FundThematic · Kotak Mahindra	67.0%	20	Compare
Baroda BNP Paribas Banking and Financial Services FundThematic · Baroda BNP Paribas	66.7%	22	Compare
DSP Banking & Financial Services FundSectoral · DSP	65.5%	20	Compare
HDFC Banking & Financial Services FundThematic · HDFC	63.3%	19	Compare
Edelweiss Financial Services FundThematic · Edelweiss	62.6%	18	Compare
UTI - Banking and Financial Services FundThematic · UTI	62.6%	20	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.

MahindraManulife Banking & Financial Services Fund Overview

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

Expense ratio (Direct): 1.13%
Expense ratio (Regular): 2.77%
Category: Sectoral
Risk: Very High
Benchmark: Nifty Financial Services TRI
Launch date: 18-07-2025
Minimum investment: ₹1,000
Minimum additional investment: ₹1,000
AUM: ₹445.05 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 153674
ISIN (Direct): INF174V01CO7
Scheme code (Regular): 153675
ISIN (Regular): INF174V01CL3
NAV history: From 21-07-2025, 1.3 years

Exit load: Exit Load (as % of NAV) #: -An Exit Load of 0.5% is payable if Units are redeemed / switched-out up to 3 months from the date of allotment; - Nil if Units are redeemed / switched-out after 3 months from the date of allotment. Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO). # Applicable for normal subscriptions / redemptions including transactions under special products such as SIP, SWP, switches, etc. offered by the AMC. For detailed load structure disclosure, please refer SID.

Tax on MahindraManulife Banking & Financial Services Fund returns

MahindraManulife Banking & Financial Services 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	₹10.1552	30-10-2026
direct	IDCW	₹10.1552	30-10-2026
regular	Growth	₹9.9281	30-10-2026
regular	IDCW	₹9.9281	30-10-2026

About MahindraManulife Banking & Financial Services Fund

MahindraManulife Banking & Financial Services Fund is a mutual fund from Mahindra Manulife Mutual Fund. Its category is Sectoral. It was launched on 18-07-2025. Its benchmark is Nifty Financial Services TRI. At the end of September 2026 it held 31 securities.

Fund Manager

Vishal Jajoo
Fund manager of MahindraManulife Banking & Financial Services Fund, since 18-07-2025
Chetan Sanjay Gindodia
Fund manager of MahindraManulife Banking & Financial Services Fund, since 18-07-2025

See all funds of Mahindra Manulife Mutual Fund

AUM change

September 2026: ₹445.05 Cr; −6.78% from August 2026
August 2026: ₹477.42 Cr; +3.69% from July 2026
July 2026: ₹460.44 Cr; +2.13% from June 2026

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

Compare MahindraManulife Banking & Financial Services Fund with Other Funds

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

Compare with any other fund

Frequently Asked Questions for MahindraManulife Banking & Financial Services Fund

What is the current NAV of MahindraManulife Banking & Financial Services Fund?

The Direct plan NAV is ₹10.1552. The Regular plan NAV is ₹9.9281, as on 30-10-2026.

What are the returns of MahindraManulife Banking & Financial Services Fund?

The Direct plan returned −3.33% in 1 year. The Regular plan returned −5.00% in 1 year. These figures are as on 30-10-2026.

What is the expense ratio of MahindraManulife Banking & Financial Services Fund?

The Direct plan charges 1.13% a year. The Regular plan charges 2.77% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.

What is the AUM of MahindraManulife Banking & Financial Services Fund?

MahindraManulife Banking & Financial Services Fund managed ₹445.05 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of MahindraManulife Banking & Financial Services Fund?

At the end of September 2026 the largest holdings were ICICIBANK (11.88%), HDFCBANK (10.18%), AXISBANK (7.50%), SBIN (5.39%), MCX (4.95%). The fund held 31 securities in all.

What did MahindraManulife Banking & Financial Services Fund buy and sell in September 2026?

It sold out of 2: Fedbank Financial Services Ltd, BSE Limited. It added shares in 6. It reduced 4.

How do I invest in MahindraManulife Banking & Financial Services 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 MahindraManulife Banking & Financial Services Fund?

Vishal Jajoo (since 18-07-2025), Chetan Sanjay Gindodia (since 18-07-2025).

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.