Mahindra Manulife Multi Asset Allocation Fund
The fund maintains a moderately aggressive equity tilt of 58 percent while anchoring stability through substantial debt and precious metals exposure, positioning it for inflation-resilient growth with downside cushioning. The portfolio shows deliberate conviction through concentrated bets on financials and quality names like HDFC and ICICI, complemented by tactical additions of higher-yielding corporate bonds across diverse maturities. Recent shifts toward credit instruments and away from cyclicals like oil and infrastructure suggest the manager is hedging near-term economic headwinds while staying constructively positioned for equity upside.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹13.8941 | — | — | — | — | — | — |
| Regular Growth | ₹13.4136 | +0.84% | -1.41% | +2.47% | +15.36% | — | — |
| Direct IDCW | ₹13.0729 | — | — | — | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| K.P.R. Mill Limited | 0.56% |
| 7.11% Bajaj Finance Limited 2028 ** | 2.24% |
| 7.45% Power Finance Corporation Limited 2028 | 1.36% |
| 7.77% Bajaj Finance Limited 2029 ** | 1.36% |
| 7.48% National Bank For Agriculture and Rural Development 2028 | 1.36% |
| Union Bank of India 2027 # | 2.15% |
| Bank of Baroda 2026 # | 0.45% |
| ICICI Securities Limited 2026 ** | 4.51% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Prudential Gold ETF INF109KC1NT3 | 9.64% |
| 2 | ICICI Securities Limited 2026 ** INE763G14ZQ8 | 4.51% |
| 3 | HDFC Bank Limited INE040A01034 | 3.86% |
| 4 | ICICI Bank Limited INE090A01021 | 2.86% |
| 5 | Reliance Industries Limited INE002A01018 | 2.66% |
| 6 | Bharti Airtel Limited INE397D01024 | 2.47% |
| 7 | 8.9% Muthoot Finance Limited 2027 ** INE414G07JI3 | 2.29% |
| 8 | 8.85% TVS Credit Services Limited 2027 ** INE729N08063 | 2.29% |
| 9 | 7.11% Bajaj Finance Limited 2028 ** INE296A07TM8 | 2.24% |
| 10 | Brookfield India Real Estate Trust INE0FDU25010 | 2.17% |
| 11 | Union Bank of India 2027 # INE692A16LU9 | 2.15% |
| 12 | Triparty Repo nan | 2.07% |
| 13 | State Bank of India INE062A01020 | 2.00% |
| 14 | 7.4% Bharti Telecom Limited 2029 INE403D08298 | 1.80% |
| 15 | Divi's Laboratories Limited INE361B01024 | 1.57% |
| 16 | 6.68% Government of India 2040 IN0020250042 | 1.55% |
| 17 | Axis Bank Limited INE238A01034 | 1.42% |
| 18 | 7.45% Power Finance Corporation Limited 2028 INE134E08NP7 | 1.36% |
| 19 | 7.48% National Bank For Agriculture and Rural Development 2028 INE261F08EO7 | 1.36% |
| 20 | 7.77% Bajaj Finance Limited 2029 ** INE296A07TW7 | 1.36% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.