Mahindra Manulife Balanced Advantage Fund
Mahindra Manulife Mutual Fund·Dynamic Asset Allocation Fund·vs CRISIL Hybrid 50+50
The fund maintains an aggressive equity tilt at 71%, betting on continued market strength while using high-quality debt and repo instruments as a stabilizer. Banking dominance (17%) signals conviction in financial deepening, complemented by pharma exposure for defensive growth. Recent portfolio churn—swapping capital goods and IT for retail, logistics, and finance NBFCs—suggests the manager is rotating toward consumption and credit cycles, trimming commodity-linked positions in the process.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹15.3462 | — | — | — | — | — | — |
| Regular Growth | ₹14.2130 | +0.50% | -2.51% | -3.72% | +1.02% | +11.70% | — |
| Direct IDCW | ₹12.3249 | — | — | — | — | — | — |
| Regular IDCW | ₹11.2555 | — | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
83
Top 5 Weight
14.10%
Top 10 Weight
25.64%
Active Share
—
Large Cap
41.02%
Gini
0.319
What Changed2026-03-31 → 2026-04-30
Holdings: 81 → 85+9 added−5 removed25 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Jindal Steel Limited | 1.93% |
| Delhivery Limited | 1.01% |
| Aditya Birla Capital Limited | 0.90% |
| L&T Finance Limited | 0.76% |
| Black Buck Ltd | 0.71% |
| 7.64% Power Finance Corporation Limited 2026 ** | 0.17% |
| 6.4% LIC Housing Finance Limited 2026 | 0.11% |
| Export Import Bank of India 2026 | 1.12% |
| Small Industries Dev Bank of India 2026 ** | 0.56% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Triparty Repo nan | 3.45% |
| 2 | ICICI Bank Limited INE090A01021 | 3.20% |
| 3 | 8.52% Muthoot Finance Limited 2028 ** INE414G07JN3 | 2.83% |
| 4 | 7.53% National Bank For Agriculture and Rural Development 2028 INE261F08EM1 | 2.82% |
| 5 | Reliance Industries Limited INE002A01018 | 2.66% |
| 6 | State Bank of India INE062A01020 | 2.59% |
| 7 | HDFC Bank Limited INE040A01034 | 2.58% |
| 8 | Bharti Airtel Limited INE397D01024 | 2.51% |
| 9 | 6.68% Government of India 2040 IN0020250042 | 2.18% |
| 10 | Axis Bank Limited INE238A01034 | 2.14% |
| 11 | IndusInd Bank Limited INE095A01012 | 2.13% |
| 12 | Net Receivables / (Payables) nan | 2.07% |
| 13 | Jindal Steel Limited INE749A01030 | 1.93% |
| 14 | Indus Towers Limited INE121J01017 | 1.89% |
| 15 | Coal India Limited INE522F01014 | 1.72% |
| 16 | Eternal Limited INE758T01015 | 1.68% |
| 17 | UltraTech Cement Limited INE481G01011 | 1.65% |
| 18 | Apollo Hospitals Enterprise Limited INE437A01024 | 1.59% |
| 19 | Bajaj Finance Ltd INE296A01032 | 1.56% |
| 20 | Larsen & Toubro Limited INE018A01030 | 1.42% |
Sector Allocation
Banks17.2%
SOVEREIGN6.0%
nan5.5%
CRISIL AAA5.3%
Pharmaceuticals & Biotechnology5.3%
CRISIL AA+4.5%
Telecom - Services4.4%
Finance4.1%
Retailing4.0%
ICRA AAA3.9%
Top 10 sectors by % to NAV. Excludes derivatives.