Mahindra Manulife Focused Fund
Direct · GrowthAI Summary
Mahindra Manulife Focused Fund has delivered strong alpha versus the NIFTY 50 across long horizons, with 3Y, 5Y, and 7Y fund CAGRs of 12.54%, 12.17%, and 15.61% against benchmark returns of 6.22%, 5.35%, and 8.62% respectively. Its 3Y SIP XIRR of 20.71% comfortably beats the category average of 15.77%, though the 1Y XIRR of 10.68% trails the category's 11.12%. The 5Y XIRR of 15.5% matches the category average exactly, indicating solid but not exceptional recent SIP performance.
The fund exhibits defensive characteristics with downside capture consistently below 100% (90.2% to 92.69%) across all periods, meaning it falls less than the benchmark in down markets. It has experienced 3 drawdown events exceeding 10%, with the maximum drawdown taking 154 days and requiring 348 days for full recovery. Calmar ratios above 1.0 across 1Y, 3Y, and 5Y windows (1.163, 1.346, 1.091) indicate healthy risk-adjusted returns relative to drawdown depth.
Portfolio composition data was not provided for this analysis, so specific holdings and sector allocations cannot be assessed. As a focused fund, it is structurally limited to approximately 30 stocks, which implies concentrated exposure and higher single-stock risk than diversified peers. Investors should review the latest factsheet to evaluate current sector concentration before investing.
The fund outperforms the category meaningfully on 3Y SIP XIRR (20.71% vs 15.77%) but is in line at 5Y (15.5% vs 15.5%) and slightly behind at 1Y (10.68% vs 11.12%). Calendar year returns show good consistency, with positive returns in 6 of 7 years including 31.43% in 2023 and 41.72% in 2021. The only negative year was 2026 at -8.01%, which still compares favorably to the benchmark's 1Y CAGR of -11.96%.
This fund suits investors seeking large-cap-oriented, concentrated exposure with below-benchmark downside risk and a long-term horizon of at least 5 years. It is appropriate for moderate risk tolerance investors who value alpha generation with defensive downside capture rather than aggressive outperformance in rallies. SIP investors with a 3-5 year commitment have historically been well rewarded based on the 20.71% 3Y XIRR.
- Consistent alpha over the NIFTY 50 across all measured periods, ranging from 2.08% (1Y) to 7.08% (7Y)
- Downside capture below 93% in every period, providing meaningful protection in falling markets
- 3Y SIP XIRR of 20.71% significantly outpaces the category average of 15.77%
- 1Y SIP XIRR of 10.68% trails the category average of 11.12%, and 2026 calendar year return is negative at -8.01%
- Maximum drawdown recovery took 348 days with 3 drawdown events exceeding 10%, and the 30-stock focused structure carries concentration risk
Generated on 31-10-2026, 2:20 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.70 L | 18.6% | -17.8% | 68.9% |
| 3 Years | ₹36.00 L | ₹48.12 L | 20.7% | -1.1% | 37.7% |
| 5 Years | ₹60.00 L | ₹86.25 L | 15.6% | 9.1% | 20.9% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 18.6% | 14.3% | 11.1% | +4.3% |
| 3 Years | 20.7% | 11.0% | 15.8% | +9.7% |
| 5 Years | 15.6% | 10.4% | 15.5% | +5.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 19.1% | 12.1% | -9.2% | 57.1% | 0.70 | 3.94 | 92% | — | — |
| 3 Years | 22.1% | 21.7% | 10.6% | 29.8% | 3.73 | — | 100% | — | — |
| 5 Years | 17.9% | 18.0% | 11.3% | 24.6% | 3.30 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.72 | 0.92 | 93.7% | 90.4% | -7.7% | -10.9% |
| 3 Years | +6.16 | 0.98 | 100.3% | 92.7% | 12.6% | 6.4% |
| 5 Years | +6.60 | 0.98 | 100.4% | 92.4% | 11.8% | 5.2% |
| 7 Years | +7.02 | 0.96 | 99.7% | 90.2% | 15.6% | 8.7% |
| 10 Years | +4.67 | 0.96 | 99.7% | 90.2% | 10.7% | 6.0% |
| 12 Years | +3.80 | 0.96 | 99.7% | 90.2% | 8.8% | 5.0% |
| 15 Years | +2.94 | 0.96 | 99.7% | 90.2% | 7.0% | 4.0% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 8.29% |
| 2 | Reliance Industries Limited | 6.40% |
| 3 | HDFC Bank Limited | 6.11% |
| 4 | Axis Bank Limited | 5.08% |
| 5 | Larsen & Toubro Limited | 4.61% |
| 6 | Grasim Industries Limited | 4.59% |
| 7 | State Bank of India | 4.17% |
| 8 | Bajaj Auto Limited | 4.06% |
| 9 | Bajaj Finance Ltd | 3.86% |
| 10 | Tech Mahindra Limited | 3.67% |