Mahindra Manulife Multi Cap Fund
Mahindra Manulife Mutual Fund · Multi Cap · Direct plan, growth option
NAV (₹), 1 Oct 2026
44.4966
1-day change
-1.18%
1Y return
10.0%
3Y CAGR
15.9%
5Y CAGR
14.9%
Max drawdown, 5Y
−20.6%
NAV history month-end NAV, ₹ · 18 May 2017 to 1 Oct 2026
Returns vs Multi Cap median (32 schemes)
| Period | Scheme | Category median |
|---|---|---|
| 1 month | -5.6% | -5.0% |
| 3 months | 0.0% | -1.7% |
| 6 months | 15.5% | 13.5% |
| Year to date | 5.8% | 1.1% |
| 1 year | 10.0% | 4.1% |
| 3 years (CAGR) | 15.9% | 13.3% |
| 5 years (CAGR) | 14.9% | 12.9% |
| 7 years (CAGR) | 21.4% | 17.8% |
| 10 years (CAGR) | n/a | 14.3% |
| Since first NAV (CAGR) | 17.3% | – |
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 11.2% | 11.2% |
| 3Y rolling median | 22.6% | 18.1% |
| 3Y rolling worst | -0.9% | 11.4% |
| 3Y periods positive | 100% | 100% |
| 3Y periods ahead of benchmark | 100% | 100% |
| 5Y rolling median | 22.8% | 16.5% |
| 5Y rolling worst | 13.2% | 0.3% |
| 5Y periods ahead of benchmark | 100% | 100% |
Benchmark: Nifty 500 (proxy: Motilal Oswal Nifty 500 Index Fund, price return).
Risk 36 months, monthly returns, Rf 6.5%
| Measure | Scheme | Category median |
|---|---|---|
| Standard deviation (ann.) | 16.9% | 16.3% |
| Sharpe ratio | 0.62 | 0.50 |
| Sortino ratio | 0.97 | 0.73 |
| Beta | 1.01 | 1.00 |
| Alpha (ann.) | 6.9% | 4.7% |
| Upside capture | 124.96 | 113.66 |
| Downside capture | 94.32 | 96.40 |
Drawdowns peak-to-trough falls in NAV
| Measure | Scheme | Category median |
|---|---|---|
| Maximum drawdown, full history | −34.4% | −20.0% |
| Maximum drawdown, last 10Y | n/a | −38.0% |
| Maximum drawdown, last 5Y | −20.6% | −21.0% |
| Current drawdown | −6.8% | −6.3% |
| Recovery time of worst fall | 227 days | – |
Longer histories include more crises, so compare the 5Y and 10Y figures across schemes of different ages.
Market context from Integrato Market Intelligence
This scheme invests mainly in the market below, which is also close to how many of them are benchmarked. Where that market stands today:
21,857.75 −0.97%
NSE close, 1 Oct 2026
- P/E 21.6: higher than 1% of days since 2023 (median 24.2)
- 1Y −3.9% · 3Y +8.9% p.a. · 5Y +8.6% p.a. (index fund NAV, after costs)
- −9.3% from its 52-week high
Index levels and P/E: NSE daily index closing values; gold and silver: IBJA rates; returns: growth NAV of an index fund or ETF tracking the market (AMFI), so they are after that fund's costs. Context only: a market's level or valuation does not tell you how any scheme will perform. Explore all markets.
Direct or Regular for this scheme?
The Regular plan's expense ratio is 2.16% a year and the Direct plan's 0.93%, a gap of 1.23%; over the last 3 years the Direct plan returned 1.62 percentage points a year more. On a ₹25,000 monthly SIP for 20 years (illustration at 12% a year before costs) the gap adds up to about ₹28,02,017.
With the Regular plan, that cost pays a distributor to help you plan, choose and review funds, and stay invested when markets fall. Whether it is worth it depends on how much of that you will do yourself.
TER: AMFI TER disclosure. Returns: AMFI NAVs. Illustration, not a guaranteed saving or return.
Recent disclosure changes last 120 days, as disclosed via AMFI
- 30 Sep 2026: TER reduced from 0.94% to 0.93% (AMFI TER disclosure)
- 28 Sep 2026: TER increased from 0.93% to 0.94% (AMFI TER disclosure)
- 15 Sep 2026: TER increased from 0.92% to 0.93% (AMFI TER disclosure)
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Vishal Jajoo | 21 Jul 2026 | |
| Neelesh Dhamnaskar | 21 Jul 2026 |
Objective: The investment objective of the Scheme is to provide medium to long term capital appreciation through appropriate diversification and taking low risk on business quality. The diversified portfolio would predominantly consist of equity and equity related securities including derivatives. However, there can be no assurance that the investment objective of the Scheme will be achieved.
Stated asset allocation: Equity and Equity related Securities^ of which : 75% - 100%, (i) Large Cap Companies* : 25% - 50%, (ii) Mid Cap Companies** : 25% - 50%, (iii) Small Cap Companies*** : 25% - 50% Money Market Instruments / other liquid instruments: 0% - 25% Units of mutual funds$ (including Gold & Silver ETFs) : 0% - 20% Units issued by InvITs : 0% -10% ^ including derivative instruments to the extent of 50% of the Net Assets of the Scheme. Investment in derivatives shall be for hedging, portfolio balancing, and such other purposes as maybe permitted from time to time under the Regulations and subject to guidelines issued by SEBI/RBI from time to time. @other liquid instruments shall include cash, bank d…
Benchmark (tier 1): Nifty 500 Multicap 50:25:25 TRI
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 3 months from the date of allotment.
Minimum application: ₹1,000
Allotment date: 11 May 2017
Documents: Scheme Information Document · Scheme Summary Document. Read the scheme documents before investing.
Cost, size and riskometer as disclosed to AMFI
| Measure | Scheme | Category median |
|---|---|---|
| Expense ratio (TER), Direct plan | 0.93% | 0.96% |
| AUM, whole scheme (₹ crore) | 7,457 | 3,377 |
| Riskometer | Very High | – |
TER: AMFI, TER of MF Schemes. AUM and riskometer: AMFI, Fund Performance, 30 Sep 2026.
Official benchmark and category consistency
| Measure | Scheme | Benchmark / category |
|---|---|---|
| Return, 1 year (AMFI) | 12.3% | 0.4% TRI |
| Return, 3 years (AMFI) | 16.3% | 10.9% TRI |
| Return, 5 years (AMFI) | 15.2% | 11.0% TRI |
| Month-ends above category median (3Y CAGR) | 92% | 40% median |
| Month-ends in category top quartile (3Y) | 55% | 19% median |
| 7Y rolling CAGR, median (monthly windows) | 21.1% | 16.0% median |
Official benchmark: NIFTY 500 Multicap 50:25:25 Total Return Index (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Multi Cap Direct plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Nifty 500 proxy | Difference |
|---|---|---|---|
| 2026 YTD | 5.8% | -7.8% | +13.6% |
| 2025 | 4.8% | 7.7% | −2.9% |
| 2024 | 25.3% | 15.6% | +9.6% |
| 2023 | 36.4% | 26.5% | +9.9% |
| 2022 | 3.5% | 3.8% | −0.3% |
| 2021 | 53.5% | 30.6% | +22.9% |
| 2020 | 18.7% | 17.2% | +1.4% |
| 2019 | 15.7% | n/a | – |
| 2018 | -7.7% | n/a | – |
Benchmark proxy: Motilal Oswal Nifty 500 Index Fund (Direct plan NAV, price return), which carries its own costs. The first year starts from the first 31 December in the scheme's history.
Monthly SIP of ₹10,000 first business day of each month, ending 1 Oct 2026
| Period | Invested | Value | XIRR |
|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1,25,743 | 9.0% |
| 3 years | ₹3,60,000 | ₹4,17,986 | 9.9% |
| 5 years | ₹6,00,000 | ₹8,80,207 | 15.3% |
Uses this plan's NAVs; ignores stamp duty, exit loads and taxes. One historical path only — the interactive SIP analyzer shows outcomes across every start date.
Scheme facts
Category: Multi Cap
Plan / option: Direct · Growth
AMFI scheme code: 141226
ISIN: INF174V01341
First NAV in MFIC data: 18 May 2017
History: 9.4 years
Portfolio holdings: see the scheme's monthly portfolio disclosure on the fund house website
Schemes that behaved similarly correlation of monthly returns, last 5 years
| Scheme | Category | Correlation | 3Y CAGR |
|---|---|---|---|
| Mahindra Manulife Large & Mid Cap Fund | Large & Mid Cap | 0.98 | 10.5% |
| PGIM India Multi Cap Fund | Multi Cap | 0.98 | n/a |
| Edelweiss Business Cycle Fund | Sectoral/Thematic | 0.97 | n/a |
| Franklin India Multi Cap Fund | Multi Cap | 0.97 | n/a |
| Edelweiss Multi Cap Fund | Multi Cap | 0.97 | n/a |
| HSBC Multi Cap Fund | Multi Cap | 0.97 | 17.0% |
Questions about Mahindra Manulife Multi Cap Fund
- What is the latest NAV of Mahindra Manulife Multi Cap Fund?
- The NAV of the Direct plan (growth option) was ₹44.4966 on 1 Oct 2026, as published by AMFI.
- Which category is Mahindra Manulife Multi Cap Fund in?
- It is classified as Multi Cap in AMFI's daily NAV file; a Multi Cap scheme invests at least 25% each in large-, mid- and small-cap stocks. MFIC compares it with 32 Multi Cap schemes (Direct plans).
- What returns has Mahindra Manulife Multi Cap Fund delivered?
- Over one year the NAV changed by 10.0%. The 3-year CAGR is 15.9% (category median 13.3%) and the 5-year CAGR is 14.9% (category median 12.9%). Returns are after expenses and before tax. Past performance may or may not be sustained in future.
- How consistent have its 3-year returns been?
- Measuring a 3-year CAGR from every business day in its history, the median was 22.6%, the lowest was -0.9%, and 100% of 3-year periods ended with a gain. It was ahead of Nifty 500 (index-fund proxy) in 100% of those periods.
- What was the largest fall in Mahindra Manulife Multi Cap Fund's NAV?
- The largest peak-to-trough fall in its available history was 34.4%; within the last five years it was 20.6% (category median 21.0%).
- How volatile is Mahindra Manulife Multi Cap Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 16.9%, which is above the Multi Cap category median of 16.3%.
- What would a monthly SIP in Mahindra Manulife Multi Cap Fund have grown to?
- A SIP of ₹10,000 on the first business day of each month for the last 5 years (60 instalments, ₹6,00,000 invested) would have been worth about ₹8,80,207 on 1 Oct 2026, an annualised return (XIRR) of 15.3%. This uses the Direct plan's NAVs, ignores taxes and exit loads, and past performance may or may not be sustained in future.
- What is the expense ratio (TER) of Mahindra Manulife Multi Cap Fund?
- The total expense ratio of the Direct plan is 0.93% a year, as disclosed to AMFI (median of Multi Cap Direct plans: 0.96%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is Mahindra Manulife Multi Cap Fund?
- Assets under management of the whole scheme were ₹7,457 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of Mahindra Manulife Multi Cap Fund?
- AMFI lists the scheme's riskometer as “Very High”, and its benchmark's as “Very High”. The riskometer is a label of potential risk set under SEBI rules, not a forecast.
- What is the benchmark of Mahindra Manulife Multi Cap Fund and how has it compared?
- Its official benchmark is the NIFTY 500 Multicap 50:25:25 Total Return Index. Over 3 years AMFI reports a return of 16.3% for this plan against 10.9% for the benchmark total return index; over 5 years 15.2% against 11.0%. Past performance does not indicate future results.
- How often has Mahindra Manulife Multi Cap Fund beaten its category?
- At 92% of the 77 month-ends compared over the last 10 years, its 3-year return was above the median of Multi Cap schemes (Direct plans); it was in the top quarter at 55% of them. A typical scheme would show about 50%.
- Who manages Mahindra Manulife Multi Cap Fund?
- According to its Scheme Summary Document, Mahindra Manulife Multi Cap Fund is managed by Vishal Jajoo (since 21 Jul 2026), Neelesh Dhamnaskar (since 21 Jul 2026).
- What is the exit load of Mahindra Manulife Multi Cap Fund?
- As stated in its scheme documents: 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 3 months from the date of allotment. Check the latest Scheme Information Document before investing, as loads can change.
- What is the minimum investment in Mahindra Manulife Multi Cap Fund?
- The minimum application amount is ₹1,000. SIP details: SIP - Weekly & Monthly: 500; Quarterly: 1500, SWP - Monthly: 500; Quarterly: 500, STP - Daily / Weekly & Monthly: 500: Quarterly: 1500.
- What is the difference between the Direct and Regular plans?
- Both plans hold the same portfolio; the Regular plan includes distribution costs in its expense ratio. Over one year the Direct plan's NAV changed by 10.0% and the Regular plan's by 8.6%. The Regular plan includes the services of a distributor.
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Data & disclosure. Source: AMFI daily NAV file and historical NAVs via mfapi.in; calculations by MFIC, as of 1 Oct 2026. Category medians use Direct plans in the same AMFI category. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance may or may not be sustained in future. This page is for research and education only and is not investment advice or a recommendation to buy, sell or hold any scheme. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155). Methodology.