Mahindra Manulife Flexi Cap Fund
Mahindra Manulife Mutual Fund·Flexi Cap Fund·vs Nifty 500 TRI
The fund maintains a concentrated bet on financial services, with banks alone constituting one-fifth of the portfolio, signaling conviction in rate-sensitive sectors amid stable macro conditions. Recent portfolio turnover—trimming large IT positions and adding cyclicals like ports and shipyards—suggests the manager is rotating toward value plays and infrastructure beneficiaries while thinning crowded largecap IT exposure. The 74-stock spread with modest cash indicates a balanced approach to equity deployment without significant market timing bets.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹16.6115 | — | — | — | — | — | — |
| Regular Growth | ₹15.2587 | -0.23% | -6.25% | -8.24% | -3.41% | +12.45% | — |
| Direct IDCW | ₹13.3738 | — | — | — | — | — | — |
| Regular IDCW | ₹12.0791 | — | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
72
Top 5 Weight
22.14%
Top 10 Weight
33.21%
Active Share
—
Large Cap
60.86%
Gini
0.335
What Changed2026-03-31 → 2026-04-30
Holdings: 72 → 74+12 added−11 removed31 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Adani Ports and Special Economic Zone Limited | 1.50% |
| Cochin Shipyard Limited | 1.41% |
| Jubilant Ingrevia Limited | 1.16% |
| Suzlon Energy Limited | 1.08% |
| Vodafone Idea Limited | 1.06% |
| Engineers India Limited | 0.98% |
| InterGlobe Aviation Limited | 0.78% |
| Zydus Lifesciences Limited | 0.72% |
| The Federal Bank Limited | 0.68% |
| Carborundum Universal Limited | 0.62% |
| Schaeffler India Limited | 0.54% |
| L&T Finance Limited | 0.15% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 7.84% |
| 2 | HDFC Bank Limited INE040A01034 | 4.64% |
| 3 | Reliance Industries Limited INE002A01018 | 3.39% |
| 4 | Bharti Airtel Limited INE397D01024 | 3.30% |
| 5 | Bajaj Finance Ltd INE296A01032 | 2.97% |
| 6 | Larsen & Toubro Limited INE018A01030 | 2.63% |
| 7 | Tata Consultancy Services Limited INE467B01029 | 2.25% |
| 8 | Kotak Mahindra Bank Ltd INE237A01036 | 2.11% |
| 9 | Avenue Supermarts Limited INE192R01011 | 2.04% |
| 10 | Tata Steel Limited INE081A01020 | 2.04% |
| 11 | Hindustan Unilever Limited INE030A01027 | 1.78% |
| 12 | Oil & Natural Gas Corporation Limited INE213A01029 | 1.75% |
| 13 | UNO Minda Limited INE405E01023 | 1.67% |
| 14 | Tata Power Company Limited INE245A01021 | 1.66% |
| 15 | Eternal Limited INE758T01015 | 1.65% |
| 16 | Triparty Repo nan | 1.64% |
| 17 | IndusInd Bank Limited INE095A01012 | 1.61% |
| 18 | TVS Motor Company Limited INE494B01023 | 1.57% |
| 19 | Indus Towers Limited INE121J01017 | 1.56% |
| 20 | Infosys Limited INE009A01021 | 1.55% |
Sector Allocation
Banks19.9%
Retailing7.6%
IT - Software6.2%
Telecom - Services5.9%
Pharmaceuticals & Biotechnology5.8%
Finance5.3%
Consumer Durables4.8%
Automobiles4.3%
Power4.0%
Construction3.6%
Top 10 sectors by % to NAV. Excludes derivatives.