Mahindra Manulife Multi Asset Allocation Fund - Direct Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Fund House : Mahindra Manulife Mutual Fund

Portfolio Turnover Ratio : 64.00%. Category average turnover ratio is 201.41%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 55.80% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 55.80%

No of Stocks : 55 (Category Avg - 68.00) | Large Cap Investments : 32.77%| Mid Cap Investments : 4.17% | Small Cap Investments : 6.67% | Other : 12.19%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	55	64.97
Top 5 Stock Weight	13.27%	16.84%
Top 10 Stock Weight	21.35%	25.55%
Top 3 Sector Weight	17.29%	19.32%

Category - Multi Asset Allocation

Particulars	This Scheme	Category
Average mcap (Cr)	73731.65	74492.49
Holdings in large cap stocks	32.77%	30.65%
Holdings in mid cap stocks	4.17%	6.18%
Holdings in small cap stocks	6.67%	4.43%

Category - Multi Asset Allocation

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
HDFC Bank Ltd.	Private sector bank	276.1	3.61%	0.30%	3.99% (Apr 2025)	1.42% (Nov 2024)	2.80 L	39.00 k
ICICI Bank Ltd.	Private sector bank	233.7	3.06%	-0.07%	3.77% (Jul 2025)	1.48% (Nov 2024)	1.74 L	13.20 k
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	190	2.49%	0.94%	2.49% (Oct 2025)	0.4% (Dec 2024)	92.50 k	35.50 k
State Bank Of India	Public sector bank	162.5	2.13%	0.17%	2.13% (Oct 2025)	1.56% (Dec 2024)	1.73 L	18.40 k
Reliance Industries Ltd.	Refineries & marketing	151.3	1.98%	-0.03%	2.45% (Jun 2025)	0.79% (Nov 2024)	1.02 L	0.00
Divis Laboratories Ltd.	Pharmaceuticals	148.7	1.95%	0.45%	2% (May 2025)	1.5% (Sep 2025)	22.07 k	3.90 k
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	127.3	1.67%	-0.14%	1.86% (Jul 2025)	0% (Nov 2024)	36.50 k	0.00
Axis Bank Ltd.	Private sector bank	117.1	1.53%	-0.03%	1.82% (Apr 2025)	0% (Nov 2024)	95.00 k	0.00
Infosys Ltd.	Computers - software & consulting	113	1.48%	0.08%	1.71% (May 2025)	1.12% (Mar 2025)	76.20 k	9.00 k
ITC Limited	Diversified fmcg	111.2	1.45%	0.03%	1.6% (Jul 2025)	0.98% (Nov 2024)	2.65 L	20.00 k

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

None
Sector
M-Cap

Help me understand this table

Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
HDFC Bank Ltd.	Private sector bank	9.11	276.1	3.61%	0.30%	3.99% (Apr 2025)	1.42% (Nov 2024)	2.80 L	39.00 k	Other	12.19
ICICI Bank Ltd.	Private sector bank	9.11	233.7	3.06%	-0.07%	3.77% (Jul 2025)	1.48% (Nov 2024)	1.74 L	13.20 k	Large Cap	32.77
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	2.49	190	2.49%	0.94%	2.49% (Oct 2025)	0.4% (Dec 2024)	92.50 k	35.50 k	Large Cap	32.77
State Bank Of India	Public sector bank	2.13	162.5	2.13%	0.17%	2.13% (Oct 2025)	1.56% (Dec 2024)	1.73 L	18.40 k	Large Cap	32.77
Reliance Industries Ltd.	Refineries & marketing	2.73	151.3	1.98%	-0.03%	2.45% (Jun 2025)	0.79% (Nov 2024)	1.02 L	0.00	Large Cap	32.77
Divis Laboratories Ltd.	Pharmaceuticals	4.36	148.7	1.95%	0.45%	2% (May 2025)	1.5% (Sep 2025)	22.07 k	3.90 k	Large Cap	32.77
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	2.46	127.3	1.67%	-0.14%	1.86% (Jul 2025)	0% (Nov 2024)	36.50 k	0.00	Large Cap	32.77
Axis Bank Ltd.	Private sector bank	9.11	117.1	1.53%	-0.03%	1.82% (Apr 2025)	0% (Nov 2024)	95.00 k	0.00	Large Cap	32.77
Infosys Ltd.	Computers - software & consulting	3.82	113	1.48%	0.08%	1.71% (May 2025)	1.12% (Mar 2025)	76.20 k	9.00 k	Large Cap	32.77
ITC Limited	Diversified fmcg	1.98	111.2	1.45%	0.03%	1.6% (Jul 2025)	0.98% (Nov 2024)	2.65 L	20.00 k	Large Cap	32.77
National Thermal Power Corporation Ltd.	Power generation	1.27	97.1	1.27%	0.03%	1.59% (Mar 2025)	1.21% (Dec 2024)	2.88 L	35.80 k	Large Cap	32.77
Aditya Vision Ltd.	Speciality retail	1.23	93.7	1.23%	0.05%	1.23% (Oct 2025)	0.81% (Jun 2025)	1.63 L	18.00 k	Other	12.19
Coromandel International Ltd.	Fertilizers	1.15	88.1	1.15%	0.04%	1.46% (Jul 2025)	0.95% (Nov 2024)	41.45 k	7.20 k	Mid Cap	4.17
Bajaj Finance Ltd.	Non banking financial company (nbfc)	1.73	85.5	1.12%	-0.06%	1.25% (May 2025)	0% (Nov 2024)	82.00 k	0.00	Other	12.19
L&T Finance Holdings Ltd.	Investment company	1.08	82.9	1.08%	-0.08%	1.16% (Sep 2025)	0.67% (Dec 2024)	3.06 L	-0.15 L	Mid Cap	4.17
- Larsen & Toubro Ltd.	Civil construction	1.93	78.6	1.03%	0.00%	1.19% (May 2025)	0.56% (Nov 2024)	19.50 k	0.00	Large Cap	32.77
Grasim Industries Limited	Cement & cement products	2.86	77.9	1.02%	-0.05%	1.27% (Apr 2025)	0.68% (Dec 2024)	26.94 k	0.00	Large Cap	32.77
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	4.36	77.4	1.01%	0.10%	1.24% (Apr 2025)	0.72% (Nov 2024)	45.80 k	6.50 k	Large Cap	32.77
Tata Steel Ltd.	Iron & steel products	0.99	76	0.99%	-0.02%	1.12% (May 2025)	0.49% (Jan 2025)	4.16 L	0.00	Other	12.19
Tech Mahindra Ltd.	Computers - software & consulting	3.82	73.1	0.96%	0.04%	1.36% (Jan 2025)	0.84% (Mar 2025)	51.30 k	5.80 k	Large Cap	32.77
Shree Cement Ltd.	Cement & cement products	2.86	73	0.96%	0.05%	1.2% (Feb 2025)	0.63% (Dec 2024)	2.58 k	420.00	Large Cap	32.77
GAIL (India) Ltd.	Gas transmission/marketing	0.94	72.2	0.94%	0.11%	1.17% (Mar 2025)	0.75% (Dec 2024)	3.95 L	69.00 k	Large Cap	32.77
Tata Consumer Products Ltd.	Tea & coffee	0.93	71	0.93%	0.21%	0.93% (Oct 2025)	0.54% (Dec 2024)	60.98 k	16.60 k	Mid Cap	4.17
Kotak Mahindra Bank Ltd.	Private sector bank	9.11	69.5	0.91%	0.12%	1.06% (Mar 2025)	0.68% (Nov 2024)	33.07 k	5.50 k	Large Cap	32.77
J.K. Cement Ltd.	Cement & cement products	2.86	67	0.88%	-0.10%	1.17% (Aug 2025)	0.44% (Nov 2024)	10.79 k	0.00	Small Cap	6.67
Tata Consultancy Services Ltd.	Computers - software & consulting	3.82	62.1	0.81%	-0.04%	1.21% (Apr 2025)	0% (Nov 2024)	20.30 k	0.00	Large Cap	32.77
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	2.46	60.2	0.79%	0.04%	0.79% (Oct 2025)	0.5% (Dec 2024)	3.72 k	500.00	Large Cap	32.77
Hindustan Petroleum Corporation Ltd.	Refineries & marketing	2.73	57.7	0.75%	0.02%	0.89% (May 2025)	0.55% (Feb 2025)	1.21 L	8.00 k	Large Cap	32.77
- Hindalco Industries Ltd.	Aluminium	0.74	56.6	0.74%	0.00%	0.91% (Jun 2025)	0.46% (Dec 2024)	66.80 k	0.00	Large Cap	32.77
Shriram Pistons & Rings Ltd.	Auto ancillaries	0.74	56.5	0.74%	0.02%	0.74% (Oct 2025)	0% (Nov 2024)	21.62 k	3.10 k	Small Cap	6.67
Gland Pharma Ltd.	Pharmaceuticals	4.36	55.2	0.72%	-0.05%	0.87% (Jul 2025)	0.4% (Apr 2025)	28.60 k	2.00 k	Other	12.19
SBI Life Insurance Co Ltd.	Life insurance	0.72	54.9	0.72%	-0.01%	0.85% (Apr 2025)	0.59% (Nov 2024)	28.06 k	0.00	Large Cap	32.77
L G Balakrishnan & Bros Ltd.	Auto components & equipments	1.41	54.8	0.72%	0.07%	0.72% (Oct 2025)	0.39% (Nov 2024)	38.64 k	6.00 k	Small Cap	6.67
Asahi India Glass Ltd.	Auto components & equipments	1.41	52.9	0.69%	-0.02%	0.76% (Jul 2025)	0.41% (Nov 2024)	57.27 k	0.00	Small Cap	6.67
Power Grid Corporation of India Ltd.	Power - transmission	0.69	52.7	0.69%	0.21%	0.69% (Oct 2025)	0% (Nov 2024)	1.83 L	65.00 k	Large Cap	32.77
Hero Motocorp Ltd.	2/3 wheelers	0.68	52.1	0.68%	-0.06%	0.74% (Sep 2025)	0.5% (Dec 2024)	9.40 k	0.00	Large Cap	32.77
# Ami Organics Ltd.	Pharmaceuticals	4.36	51.8	0.68%	0.68%	0.68% (Oct 2025)	0% (Nov 2024)	30.00 k	30.00 k	Other	12.19
KEI Industries Ltd.	Cables - electricals	0.67	51	0.67%	0.04%	0.67% (Oct 2025)	0.34% (Mar 2025)	12.65 k	2.00 k	Small Cap	6.67
Carborundum Universal Ltd.	Abrasives & bearings	0.66	50.7	0.66%	0.13%	0.66% (Oct 2025)	0.31% (Feb 2025)	56.30 k	17.00 k	Small Cap	6.67
SP Apparels Ltd.	Garments & apparels	0.65	49.5	0.65%	0.02%	0.79% (Jul 2025)	0.39% (Nov 2024)	66.98 k	6.35 k	Small Cap	6.67
Inox India Ltd.	Engineering	0.64	48.6	0.64%	0.10%	0.64% (Oct 2025)	0.37% (Nov 2024)	40.93 k	9.50 k	Other	12.19
Oil & Natural Gas Corporation Ltd.	Oil exploration & production	0.62	47.4	0.62%	0.10%	0.62% (Oct 2025)	0.37% (Nov 2024)	1.86 L	36.00 k	Large Cap	32.77
# Shriram Finance Ltd.	Non banking financial company (nbfc)	1.73	46.4	0.61%	0.61%	0.61% (Oct 2025)	0% (Nov 2024)	62.00 k	62.00 k	Other	12.19
Coal India Ltd.	Coal	0.6	46.2	0.60%	0.05%	0.69% (Mar 2025)	0.43% (Nov 2024)	1.19 L	21.00 k	Large Cap	32.77
Technocraft Industires (India) Ltd.	Spinning-cotton/blended	0.6	46.1	0.60%	0.23%	0.6% (Oct 2025)	0.31% (Nov 2024)	18.95 k	7.24 k	Small Cap	6.67
Persistent Systems Ltd.	Computers - software & consulting	3.82	43.8	0.57%	0.07%	0.69% (Jun 2025)	0.5% (Sep 2025)	7.40 k	300.00	Other	12.19
Tega Industries Ltd.	Industrial products	0.57	43.3	0.57%	-0.04%	0.68% (Jul 2025)	0% (Nov 2024)	22.35 k	0.00	Other	12.19
Voltas Limited	Household appliances	0.55	42.2	0.55%	0.01%	0.71% (Mar 2025)	0.49% (Nov 2024)	30.50 k	3.00 k	Mid Cap	4.17
Archean Chemical Industries Ltd.	Specialty chemicals	0.55	41.7	0.55%	-0.02%	0.6% (Jul 2025)	0.37% (Mar 2025)	63.00 k	6.00 k	Other	12.19
- Afcons Infrastructure Ltd.	Civil construction	1.93	41.3	0.54%	0.00%	0.58% (Jun 2025)	0% (Nov 2024)	92.19 k	10.00 k	Other	12.19
Kirloskar Brothers Ltd.	Compressors, pumps & diesel engines	0.54	40.9	0.54%	-0.01%	0.75% (Jun 2025)	0.43% (Feb 2025)	21.83 k	2.00 k	Small Cap	6.67
- Hindustan Unilever Ltd.	Diversified fmcg	1.98	40.4	0.53%	0.00%	0.6% (Aug 2025)	0.34% (Dec 2024)	16.40 k	1.80 k	Large Cap	32.77
PTC Industries Ltd.	Other industrial products	0.52	39.5	0.52%	0.01%	0.6% (Mar 2025)	0.39% (Nov 2024)	2.29 k	0.00	Small Cap	6.67
Rural Electrification Corporation Limited	Financial institution	0.46	35.2	0.46%	-0.05%	0.63% (May 2025)	0.33% (Feb 2025)	94.00 k	0.00	Mid Cap	4.17
ISGEC Heavy Engineering Ltd.	Civil construction	1.93	27.2	0.36%	-0.03%	0.63% (May 2025)	0.36% (Oct 2025)	30.92 k	0.00	Other	12.19
LTIMindtree Ltd.	Computers - software & consulting	3.82	37.3	0.00%	-0.54%	-	-	-	-	Mid Cap	4.17

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Bond - Nirma Ltd.	Household products	149.3	1.95%	1.95%	0% (Nov 2025)	0% (Nov 2025)	15.00 L	1500000
# Bond - ICICI Securities Ltd.	Stockbroking & allied	297.3	3.89%	3.89%	0% (Nov 2025)	0% (Nov 2025)	30.00 L	3000000
# Bond - Sundaram Finance Limited	Non banking financial company (nbfc)	150	1.96%	1.96%	0% (Nov 2025)	0% (Nov 2025)	15.00 L	1500000
# Shriram Finance Ltd.	Non banking financial company (nbfc)	46.4	0.61%	0.61%	0.61% (Oct 2025)	0% (Nov 2024)	62.00 k	62000
# Ami Organics Ltd.	Pharmaceuticals	51.8	0.68%	0.68%	0.68% (Oct 2025)	0% (Nov 2024)	30.00 k	30000

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
LTIMindtree Ltd.	Computers - software & consulting	37.3	0.00%	-0.54%	1.37% (Jan 2025)	0% (Nov 2024)	0.00	-7237

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
HDFC Bank Ltd.	3.61%	3.31%	3.57%	3.85%	3.86%	3.90%	3.99%	3.35%	3.35%	1.63%	1.44%	1.42%	1.31%
ICICI Bank Ltd.	3.06%	3.13%	3.49%	3.77%	3.49%	3.63%	3.70%	3.58%	2.43%	1.65%	1.49%	1.48%	1.45%
State Bank Of India	2.13%	1.96%	1.94%	1.96%	1.79%	1.84%	1.85%	1.85%	1.74%	1.88%	1.56%	1.62%	1.55%
Divis Laboratories Ltd.	1.95%	1.50%	1.73%	1.90%	1.98%	2.00%	1.91%	1.73%	1.73%	1.63%	1.56%	1.54%	1.46%
Reliance Industries Ltd.	1.98%	2.01%	2.15%	2.25%	2.45%	2.29%	2.34%	1.62%	1.61%	0.85%	0.83%	0.79%	0.55%
Mahindra & Mahindra Ltd.	1.67%	1.81%	1.82%	1.86%	1.86%	1.81%	1.84%	1.34%	1.37%	0.53%	-	-	-
Axis Bank Ltd.	1.53%	1.56%	1.55%	1.61%	1.71%	1.77%	1.82%	1.73%	0.95%	-	-	-	-
Bharti Airtel Ltd.	2.49%	1.55%	1.68%	1.73%	1.70%	1.64%	1.93%	1.67%	1.16%	0.49%	0.40%	0.42%	-
Infosys Ltd.	1.48%	1.40%	1.54%	1.61%	1.69%	1.71%	1.70%	1.12%	1.26%	1.25%	1.19%	1.19%	1.06%
National Thermal Power Corporation Ltd.	1.27%	1.24%	1.29%	1.34%	1.36%	1.40%	1.54%	1.59%	1.46%	1.37%	1.21%	1.29%	1.43%
ITC Limited	1.45%	1.42%	1.56%	1.60%	1.43%	1.49%	1.57%	1.44%	1.47%	1.26%	0.99%	0.98%	1.02%
Coromandel International Ltd.	1.15%	1.11%	1.23%	1.46%	1.38%	1.31%	1.31%	1.08%	0.96%	1.00%	0.99%	0.95%	0.90%
Tech Mahindra Ltd.	0.96%	0.92%	1.05%	1.06%	1.23%	1.19%	1.18%	0.84%	0.93%	1.36%	1.10%	1.12%	1.06%
Aditya Vision Ltd.	1.23%	1.18%	1.14%	0.91%	0.81%	0.92%	0.95%	1.07%	1.09%	1.02%	1.16%	1.09%	1.06%
Bajaj Finance Ltd.	1.12%	1.18%	1.12%	1.15%	1.23%	1.25%	1.22%	0.85%	0.86%	0.63%	0.37%	-	-

No of Debt Holding 16 (Category Avg - 17.77) | Modified Duration 1.89 Years (Category Avg - 2.60)| Yield to Maturity 6.81% (Category Avg - 6.51%)

Portfolio Summary (as on 31st Oct,2025)

Security Type	% Weight	Category Average
GOI	2.95%	7.12%
CD	3.77%	0.81%
T-Bills	0.00%	0.72%
CP	5.84%	0.48%
NCD & Bonds	13.07%	8.20%
PTC	0.00%	0.09%

Category - Multi Asset Allocation

Security Type	% Weight	Category Average
Government Backed	2.95%	7.84%
Low Risk	22.68%	9.40%
Moderate Risk	0.00%	0.00%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Category - Multi Asset Allocation

Debt holding in Portfolio (as on 31st Oct,2025)

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - ICICI Securities Ltd.	CP	Stockbroking & allied	P1+	CRISIL	297.27	3.89%	30.00 L
Bond - TVS Credit Services Ltd	NCD & Bonds	Non banking financial company (nbfc)	AA+	CRISIL	254.75	3.33%	25.00 L
Bond - Muthoot Finance Pvt. Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AA+	CRISIL	254.71	3.33%	25.00 L
Bond - HDFC Bank Ltd.	CD	Private sector bank	P1+	CRISIL	238.40	3.12%	25.00 L
Bond - Sundaram Finance Limited	NCD & Bonds	Non banking financial company (nbfc)	LAAA	ICRA	150.00	1.96%	15.00 L
Bond - Nirma Ltd.	CP	Household products	P1+	CRISIL	149.26	1.95%	15.00 L
Bond - LIC Housing Finance Ltd.	NCD & Bonds	Housing finance company	AAA	CRISIL	101.76	1.33%	10.00 L
Bond - Godrej Industries Ltd	NCD & Bonds	Animal feed	AA+	CRISIL	86.93	1.14%	8.50 L
Bond - Govt of India	GOI	Other			70.14	0.92%	7.00 L
Bond - Govt of India	GOI	Other			53.92	0.71%	5.50 L
Bond - Govt of India	GOI	Other			51.57	0.67%	5.00 L
Bond - Kotak Mahindra Investments Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AAA	CRISIL	51.02	0.67%	5.00 L
Bond - Small Industries Development Bank Of India	NCD & Bonds	Financial institution	AAA	CRISIL	50.80	0.66%	5.00 L
Bond - Small Industries Development Bank Of India	NCD & Bonds	Financial institution	LAAA	ICRA	50.04	0.65%	5.00 L
Bond - Govt of India	GOI	Other			49.29	0.65%	5.00 L
Bond - Kotak Mahindra Bank Ltd.	CD	Private sector bank	P1+	CRISIL	49.78	0.65%	5.00 L

Name	Type of Instrument	Weight (%)
MF Units	MF Units	5.74%
MF Units	MF Units	5.40%
Nexus Select Trust	InvITs	2.13%
Brookfield India Real Estate Trust	InvITs	1.74%
Embassy Office Parks Reit	InvITs	1.55%
TREPS	TREPS	1.50%
Net Receivables	Net Receivables	0.51%