Mahindra Manulife Large Cap Fund
Direct · GrowthAI Summary
Mahindra Manulife Large Cap Fund has delivered consistent outperformance versus the NIFTY 50, with alpha of 2.83% over 3Y, 1.97% over 5Y, and 2.09% over 10Y. Its SIP XIRR of 15.09% (3Y) and 15.97% (5Y) beats the category averages of 13.98% and 14.34% respectively, though the 1Y XIRR of 7.54% trails the category's 7.73%. Lump-sum lump-sum CAGR has also beaten the benchmark across all windows shown, such as 12.04% vs 9.98% over 7Y.
The fund exhibits a beta below 1.0 (0.92-0.96) across periods, with downside capture consistently near 92-94%, meaning it falls less than the index in corrections. Risk-adjusted quality is solid, with positive alpha at every horizon and Calmar ratios of roughly 0.46-0.49 over 1Y to 5Y. Recovery from the maximum drawdown took 231 days after a 59-day drawdown phase, indicating a moderate pace of recovery.
Detailed holdings and sector data were not provided in this dataset, so specific stock and sector concentration cannot be assessed here. As a large cap fund, its mandate requires at least 80% allocation to the top 100 listed companies, which inherently limits single-stock concentration risk. Investors should review the latest portfolio disclosure from the AMC for holdings detail.
The fund beats category average SIP XIRR at 3Y (15.09% vs 13.98%), 5Y (15.97% vs 14.34%), and 7Y (12.39% vs 13.97% is a miss), though note the 7Y XIRR trails the category by 1.58 points. Calendar year returns show consistency, with positive returns in 7 of the last 8 years and a standout 31.5% in 2021. The persistent positive alpha over 10Y and 15Y windows suggests a durable, repeatable edge rather than a short-term anomaly.
This fund suits investors seeking large cap core exposure with a moderately lower-risk profile, given downside capture around 92% and beta under 1. A time horizon of 5-7 years or more is appropriate, as evidenced by stronger 3Y and 5Y XIRR figures versus shorter windows. It fits investors with moderate risk tolerance who want to outperform the NIFTY 50 without taking on mid or small cap volatility.
- Positive alpha versus NIFTY 50 across every horizon from 1Y to 15Y, peaking at 2.83% over 3Y
- Downside capture consistently below 100% (91.65%-94.06%), showing losses smaller than the index in corrections
- 3Y and 5Y SIP XIRR of 15.09% and 15.97% exceed category averages of 13.98% and 14.34%
- Competitive expense ratio of 0.78% for a Direct plan
- 7Y XIRR of 12.39% trails the category average of 13.97% by 1.58 percentage points
- 1Y XIRR of 7.54% slightly lags the category average of 7.73%, and 2026 calendar year return is negative at -10.77%
- Recovery from maximum drawdown took 231 days, highlighting slow rebound during extended weak phases
Generated on 01-11-2026, 3:02 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 | ₹12.64 L | 16.3% | -54.7% | 92.2% |
| 3 Years | ₹36.00 L | ₹45.11 L | 15.6% | -2.1% | 28.2% |
| 5 Years | ₹60.00 L | ₹89.30 L | 16.0% | 5.3% | 24.9% |
| 7 Years | ₹84.00 L | ₹1.30 Cr | 12.5% | 9.5% | 16.0% |
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 | 16.3% | 14.3% | 7.7% | +2.1% |
| 3 Years | 15.6% | 11.0% | 14.0% | +4.6% |
| 5 Years | 16.0% | 10.4% | 14.3% | +5.6% |
| 7 Years | 12.5% | 10.6% | 14.0% | +2.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 16.1% | 10.7% | -28.3% | 89.4% | 0.48 | 1.56 | 81% | — | — |
| 3 Years | 16.8% | 16.6% | 7.0% | 30.9% | 2.60 | — | 100% | — | — |
| 5 Years | 17.1% | 17.7% | 6.7% | 26.9% | 2.35 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +1.28 | 0.95 | 95.2% | 93.1% | -8.8% | -10.9% |
| 3 Years | +2.83 | 0.96 | 96.9% | 93.2% | 9.2% | 6.4% |
| 5 Years | +1.97 | 0.96 | 96.8% | 94.1% | 7.2% | 5.2% |
| 7 Years | +2.33 | 0.92 | 95.2% | 92.7% | 12.0% | 10.0% |
| 10 Years | +2.09 | 0.92 | 95.0% | 91.7% | 9.2% | 7.2% |
| 12 Years | +1.64 | 0.92 | 95.0% | 91.7% | 7.6% | 6.0% |
| 15 Years | +1.19 | 0.92 | 95.0% | 91.7% | 6.1% | 4.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 8.79% |
| 2 | HDFC Bank Limited | 8.06% |
| 3 | Reliance Industries Limited | 4.97% |
| 4 | Bharti Airtel Limited | 4.45% |
| 5 | Axis Bank Limited | 3.60% |
| 6 | Larsen & Toubro Limited | 3.47% |
| 7 | Eternal Limited | 3.22% |
| 8 | TVS Motor Company Limited | 2.61% |
| 9 | Bajaj Finserv Limited | 2.60% |
| 10 | Infosys Limited | 2.59% |