Mahindra Manulife Flexi Cap Fund
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 | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹16.8040 | — | — | — | — |
| Regular Growth | ₹15.4349 | -0.65% | -3.66% | +12.64% | — |
| Direct IDCW | ₹13.5288 | — | — | — | — |
| Regular IDCW | ₹12.2186 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Active Stock PickerActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| 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
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mahindra Manulife Flexi Cap Fund hold?
Mahindra Manulife Flexi Cap Fund holds 72 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 22.14% of NAV.
What is the largest holding in Mahindra Manulife Flexi Cap Fund?
The largest position in Mahindra Manulife Flexi Cap Fund is ICICI Bank Limited, accounting for 7.84% of NAV in the Banks sector.
Is Mahindra Manulife Flexi Cap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.335, Mahindra Manulife Flexi Cap Fund is well-diversified. The HHI concentration index is 21,763 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 22.14% of the portfolio.
What is the market cap allocation of Mahindra Manulife Flexi Cap Fund?
Based on SEBI's AMFI classification, Mahindra Manulife Flexi Cap Fund's equity portfolio is split as: Large Cap: 60.86%, Mid Cap: 22.96%, Small Cap: 12.35%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mahindra Manulife Flexi Cap Fund invest in most?
Mahindra Manulife Flexi Cap Fund has the highest allocation to Banks (19.92%), Retailing (7.64%), IT - Software (6.23%). The fund is invested across 30 sectors in total.
How actively managed is Mahindra Manulife Flexi Cap Fund compared to other Flexi Cap Fund funds?
Mahindra Manulife Flexi Cap Fund has an Active Share of 58.78%, classifying it as "Active Stock Picker" among 41 Flexi Cap Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in Mahindra Manulife Flexi Cap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mahindra Manulife Flexi Cap Fund added 12 new stocks (including Adani Ports and Special Economic Zone Limited) and exited 11 stocks (including UltraTech Cement Limited). Total holding count increased from 72 to 74 stocks.