Mahindra Manulife Large and Mid Cap Fund

Mahindra Manulife Large and Mid Cap Fund has delivered solid SIP XIRR of 14.68% over 1Y, 18.17% over 3Y, and 16.24% over 5Y, beating the NIFTY 50 on lump-sum CAGR across every measured window — for example 11.02% vs 5.35% over 5Y with alpha above 5% in all periods. Against category average SIP XIRR, the fund outperformed in 1Y (14.68% vs 11.01%) but trails modestly in 3Y (18.17% vs 18.19%) and 5Y (16.24% vs 18.04%). Long-term lump-sum consistency is strong, with 5Y rolling returns averaging 20.5% versus a 5Y fund CAGR of 11.02%.

The fund's max drawdown over the measured period is a mild -32.9% equivalent reading of -0.329% as reported, recovered over 158 days, with five drawdown events exceeding 10% historically. Downside capture is a key strength, at 85.53% over 1Y and 86.92% over 7-15Y windows against the NIFTY 50, while upside capture stays near par (97.75% over 1Y, above 100% over 3Y and 5Y). This asymmetric capture profile, combined with beta of roughly 0.89-1.05, indicates the fund has protected downside better than the index and produced consistently positive alpha.

Portfolio-level holding and sector data was not provided in this dataset, so specific top holdings and sector concentration cannot be assessed. As a Large & Mid Cap category fund, the mandate typically requires at least 35% in large-cap and at least 35% in mid-cap stocks. Investors should verify the current portfolio mix and mid-cap exposure directly, as this drives the higher volatility inherent to the category.

The fund's 1Y SIP XIRR of 14.68% sits 3.67 percentage points above the category average of 11.01%, showing strong recent relative performance. Over 3Y (18.17% vs 18.19%) and 5Y (16.24% vs 18.04%) it is marginally below or near category averages, suggesting competitive but not leading mid-horizon SIP outcomes. Calendar year returns show wide dispersion, from 47.16% in 2021 and 33.63% in 2023 to 2.48% in 2022 and 3.31% in 2025, which is typical for a large-and-mid-cap portfolio.

This fund suits investors seeking growth oriented equity exposure across large and mid-cap stocks who can tolerate meaningful drawdowns, as evidenced by five historical drawdown events exceeding 10% and calendar year swings from 47.16% to 2.48%. A minimum holding horizon of 5-7 years is appropriate to let the fund's strong long-term alpha (5.68% over 5Y vs NIFTY 50) work through market cycles. It is best used as a core growth allocation for investors with moderate-to-high risk tolerance rather than as a short-term parking vehicle.

• Consistently positive alpha versus the NIFTY 50 across all periods from 1Y (9.44%) to 15Y (3.08%), with the fund beating benchmark CAGR in every measured window
• Favorable downside protection with downside capture of 85.53% over 1Y and 86.92% over 7Y/10Y/12Y/15Y windows while upside capture remains near or above 100%
• 1Y SIP XIRR of 14.68% outperforms the category average of 11.01% by 3.67 percentage points, and the low TER of 0.58% supports long-term compounding

• SIP XIRR trails the category average over 3Y (18.17% vs 18.19%) and 5Y (16.24% vs 18.04%), indicating mid-horizon underperformance versus peers
• High return dispersion across calendar years — from 47.16% in 2021 to just 2.48% in 2022 and 3.31% in 2025 — demands a long investment horizon and strong risk tolerance, and portfolio composition data is not available to verify diversification