Mahindra Manulife Multi Cap Fund
The fund maintains a quality-biased stance with meaningful overweight to pharmaceuticals and financial services, signaling conviction in resilient sectors. The recent churn—exiting high-beta financials like Bajaj Finserv while adding Adani Enterprises and Aditya Birla Capital—suggests a tactical shift toward large-cap stability within the multi-cap mandate. The tight top-10 concentration at 25.4% reflects disciplined stock-picking rather than index-hugging, though the manager appears moderately cautious with minimal cash deployment.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹42.8217 | — | — | — | — |
| Regular Growth | ₹36.4940 | +2.08% | +6.42% | +19.99% | +17.69% |
| Direct IDCW | ₹30.6464 | — | — | — | — |
| Regular IDCW | ₹24.8926 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive 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 Enterprises Limited | 2.39% |
| Aditya Birla Capital Limited | 2.10% |
| Godfrey Phillips India Limited | 1.05% |
| Max Financial Services Limited | 0.74% |
| Avenue Supermarts Limited | 0.53% |
| Vedanta Iron And Steel Limited | 0.34% |
| Malco Energy Limited | 0.34% |
| Talwandi Sabo Power Limited | 0.34% |
| Vedanta Aluminium Metal Limited | 0.34% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Glenmark Pharmaceuticals Limited INE935A01035 | 3.70% |
| 2 | Larsen & Toubro Limited INE018A01030 | 3.28% |
| 3 | Divi's Laboratories Limited INE361B01024 | 2.88% |
| 4 | Polycab India Limited INE455K01017 | 2.43% |
| 5 | Adani Enterprises Limited INE423A01024 | 2.39% |
| 6 | BSE Limited INE118H01025 | 2.26% |
| 7 | UltraTech Cement Limited INE481G01011 | 2.25% |
| 8 | Neuland Laboratories Limited INE794A01010 | 2.18% |
| 9 | Aditya Birla Capital Limited INE674K01013 | 2.10% |
| 10 | Nippon Life India Asset Management Limited INE298J01013 | 1.98% |
| 11 | APL Apollo Tubes Limited INE702C01027 | 1.92% |
| 12 | State Bank of India INE062A01020 | 1.91% |
| 13 | Laurus Labs Limited INE947Q01028 | 1.88% |
| 14 | Voltamp Transformers Limited INE540H01012 | 1.85% |
| 15 | Bandhan Bank Limited INE545U01014 | 1.84% |
| 16 | Shriram Finance Limited INE721A01047 | 1.83% |
| 17 | Bajaj Auto Limited INE917I01010 | 1.75% |
| 18 | Angel One Limited INE732I01021 | 1.72% |
| 19 | Aarti Industries Limited INE769A01020 | 1.70% |
| 20 | ICICI Bank Limited INE090A01021 | 1.67% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mahindra Manulife Multi Cap Fund hold?
Mahindra Manulife Multi Cap Fund holds 82 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 14.68% of NAV.
What is the largest holding in Mahindra Manulife Multi Cap Fund?
The largest position in Mahindra Manulife Multi Cap Fund is Glenmark Pharmaceuticals Limited, accounting for 3.70% of NAV in the Pharmaceuticals & Biotechnology sector.
Is Mahindra Manulife Multi Cap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.311, Mahindra Manulife Multi Cap Fund is well-diversified. The HHI concentration index is 15,762 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 14.68% of the portfolio.
What is the market cap allocation of Mahindra Manulife Multi Cap Fund?
Based on SEBI's AMFI classification, Mahindra Manulife Multi Cap Fund's equity portfolio is split as: Large Cap: 36.75%, Mid Cap: 30.26%, Small Cap: 27.44%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mahindra Manulife Multi Cap Fund invest in most?
Mahindra Manulife Multi Cap Fund has the highest allocation to Pharmaceuticals & Biotechnology (12.02%), Banks (9.90%), Industrial Products (9.42%). The fund is invested across 35 sectors in total.
How actively managed is Mahindra Manulife Multi Cap Fund compared to other Multi Cap Fund funds?
Mahindra Manulife Multi Cap Fund has an Active Share of 72.45%, classifying it as "Highly Differentiated" among 30 Multi Cap Fund peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in Mahindra Manulife Multi Cap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mahindra Manulife Multi Cap Fund added 9 new stocks (including Adani Enterprises Limited) and exited 6 stocks (including Indus Towers Limited). Total holding count increased from 81 to 84 stocks.