Mahindra Manulife Business Cycle Fund
The fund is positioned for economic resilience across cyclical and infrastructure sectors, with a deliberate tilt toward banks, power, and cement that reflects confidence in capex-led growth. The manager has actively pruned underperforming IT and finance names while adding infrastructure plays like Adani Enterprises and shipbuilders, signaling conviction in India's capex recovery rather than consumption or technology. This rebalancing suggests positioning for a sustained industrial-led cycle over near-term volatility.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹15.9455 | — | — | — | — |
| Regular Growth | ₹15.2345 | +0.46% | +5.39% | — | — |
| Direct IDCW | ₹13.6952 | — | — | — | — |
| Regular IDCW | ₹13.0104 | — | — | — | — |
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 |
|---|---|
| REC Limited | 1.68% |
| Cochin Shipyard Limited | 1.48% |
| Adani Enterprises Limited | 1.11% |
| Elecon Engineering Company Limited | 0.73% |
| Garden Reach Shipbuilders & Engineers Limited | 0.67% |
| Mazagon Dock Shipbuilders Limited | 0.63% |
| Bosch Limited | 0.55% |
| Vedanta Limited | 0.48% |
| Vedanta Aluminium Metal Limited | 0.21% |
| Malco Energy Limited | 0.21% |
| Talwandi Sabo Power Limited | 0.21% |
| Vedanta Iron And Steel Limited | 0.21% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Reliance Industries Limited INE002A01018 | 4.59% |
| 2 | Bajaj Auto Limited INE917I01010 | 3.60% |
| 3 | Indus Towers Limited INE121J01017 | 3.14% |
| 4 | Infosys Limited INE009A01021 | 3.01% |
| 5 | Grasim Industries Limited INE047A01021 | 2.89% |
| 6 | JSW Energy Limited INE121E01018 | 2.77% |
| 7 | IndusInd Bank Limited INE095A01012 | 2.52% |
| 8 | CESC Limited INE486A01021 | 2.37% |
| 9 | HDFC Bank Limited INE040A01034 | 2.22% |
| 10 | Tech Mahindra Limited INE669C01036 | 2.11% |
| 11 | Tata Steel Limited INE081A01020 | 2.09% |
| 12 | ICICI Bank Limited INE090A01021 | 1.93% |
| 13 | The Ramco Cements Limited INE331A01037 | 1.93% |
| 14 | ITC Limited INE154A01025 | 1.93% |
| 15 | NTPC Limited INE733E01010 | 1.90% |
| 16 | Triparty Repo nan | 1.86% |
| 17 | Divi's Laboratories Limited INE361B01024 | 1.72% |
| 18 | Vodafone Idea Limited INE669E01016 | 1.71% |
| 19 | The Federal Bank Limited INE171A01029 | 1.71% |
| 20 | REC Limited INE020B01018 | 1.68% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mahindra Manulife Business Cycle Fund hold?
Mahindra Manulife Business Cycle Fund holds 70 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 17.23% of NAV.
What is the largest holding in Mahindra Manulife Business Cycle Fund?
The largest position in Mahindra Manulife Business Cycle Fund is Reliance Industries Limited, accounting for 4.59% of NAV in the Petroleum Products sector.
Is Mahindra Manulife Business Cycle Fund a concentrated or diversified fund?
With a Gini coefficient of 0.309, Mahindra Manulife Business Cycle Fund is well-diversified. The HHI concentration index is 18,142 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 17.23% of the portfolio.
What is the market cap allocation of Mahindra Manulife Business Cycle Fund?
Based on SEBI's AMFI classification, Mahindra Manulife Business Cycle Fund's equity portfolio is split as: Large Cap: 43.92%, Mid Cap: 26.07%, Small Cap: 26.42%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mahindra Manulife Business Cycle Fund invest in most?
Mahindra Manulife Business Cycle Fund has the highest allocation to Banks (13.73%), Pharmaceuticals & Biotechnology (9.58%), Cement & Cement Products (8.02%). The fund is invested across 28 sectors in total.
How actively managed is Mahindra Manulife Business Cycle Fund compared to other Sectoral / Thematic funds?
Mahindra Manulife Business Cycle Fund has an Active Share of 76.47%, 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 Business Cycle Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mahindra Manulife Business Cycle Fund added 12 new stocks (including REC Limited) and exited 6 stocks (including Power Finance Corporation Limited). Total holding count increased from 65 to 72 stocks.