Mahindra Manulife Banking & Financial Services Fund
The fund is heavily concentrated in large-cap banks and non-bank financials, betting on sustained credit growth and improving financial inclusion in India. The manager's recent trimming of HDFC Bank and Kotak while boosting SBI signals a preference for public sector banking stability and valuation discipline. The addition of L&T Finance and 5.1% cash positioning suggest cautious optimism—the manager remains committed to the sector but is selectively rotating toward relative value opportunities.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Regular Growth | ₹10.1833 | -2.33% | — | — | — |
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 |
|---|---|
| L&T Finance Limited | 3.47% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 12.33% |
| 2 | State Bank of India INE062A01020 | 8.86% |
| 3 | Axis Bank Limited INE238A01034 | 8.68% |
| 4 | HDFC Bank Limited INE040A01034 | 7.78% |
| 5 | Shriram Finance Limited INE721A01047 | 4.89% |
| 6 | Triparty Repo nan | 4.37% |
| 7 | Aditya Birla Capital Limited INE674K01013 | 4.07% |
| 8 | Bajaj Finance Ltd INE296A01032 | 3.86% |
| 9 | L&T Finance Limited INE498L01015 | 3.47% |
| 10 | Ujjivan Small Finance Bank Limited INE551W01018 | 3.29% |
| 11 | SBI Life Insurance Company Limited INE123W01016 | 3.19% |
| 12 | Karur Vysya Bank Limited INE036D01028 | 3.15% |
| 13 | Max Financial Services Limited INE180A01020 | 3.11% |
| 14 | Cholamandalam Investment and Finance Company Limited INE121A01024 | 3.04% |
| 15 | ICICI Prudential Asset Management Company Limited INE346A01027 | 2.78% |
| 16 | Equitas Small Finance Bank Limited INE063P01018 | 2.74% |
| 17 | PB Fintech Limited INE417T01026 | 2.69% |
| 18 | Tata Capital Limited INE976I01016 | 2.04% |
| 19 | Bandhan Bank Limited INE545U01014 | 1.98% |
| 20 | Nippon Life India Asset Management Limited INE298J01013 | 1.63% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mahindra Manulife Banking & Financial Services Fund hold?
Mahindra Manulife Banking & Financial Services Fund holds 30 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 42.54% of NAV.
What is the largest holding in Mahindra Manulife Banking & Financial Services Fund?
The largest position in Mahindra Manulife Banking & Financial Services Fund is ICICI Bank Limited, accounting for 12.33% of NAV in the Banks sector.
Is Mahindra Manulife Banking & Financial Services Fund a concentrated or diversified fund?
With a Gini coefficient of 0.432, Mahindra Manulife Banking & Financial Services Fund is well-diversified. The HHI concentration index is 53,088 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 42.54% of the portfolio.
What is the market cap allocation of Mahindra Manulife Banking & Financial Services Fund?
Based on SEBI's AMFI classification, Mahindra Manulife Banking & Financial Services Fund's equity portfolio is split as: Large Cap: 57.45%, Mid Cap: 18.49%, Small Cap: 14.27%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mahindra Manulife Banking & Financial Services Fund invest in most?
Mahindra Manulife Banking & Financial Services Fund has the highest allocation to Banks (54.70%), Finance (23.17%), Capital Markets (8.07%). The fund is invested across 5 sectors in total.
How actively managed is Mahindra Manulife Banking & Financial Services Fund compared to other Sectoral / Thematic funds?
Mahindra Manulife Banking & Financial Services Fund has an Active Share of 81.67%, classifying it as "Highly Differentiated" among 237 Sectoral / Thematic peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in Mahindra Manulife Banking & Financial Services Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mahindra Manulife Banking & Financial Services Fund added 1 new stock (including L&T Finance Limited) and exited 4 stocks (including IIFL Finance Limited). Total holding count decreased from 35 to 32 stocks.