Mahindra Manulife Value Fund
Direct · GrowthAI Summary
Mahindra Manulife Value Fund has delivered a 1Y SIP XIRR of 11.77%, which trails the category average SIP XIRR of 17.71% for the same period. However, it has strongly outperformed its benchmark, the NIFTY50 Value 20, which posted a negative 1Y CAGR of -5.53% versus the fund's 15.61%, generating an alpha of 21.10%. This benchmark outperformance is consistent across all measured periods, with positive alpha even over 15 years.
The fund exhibits low recent volatility, with a maximum drawdown of just -0.11% that recovered in 22 days, and only one drawdown event exceeding 10%. Its Calmar Ratio of 1.09 over 1Y indicates reasonable risk-adjusted returns relative to drawdown. The downside capture ratio of 78.61% versus an upside capture of 106.47% shows the fund protects capital in falling markets while participating more fully in rallies, a favorable asymmetry.
The portfolio is diversified across 71 holdings, with the top 10 positions accounting for roughly 24% of NAV and no single stock above 5.01% (ICICI Bank). Banks dominate at 20.9% of the portfolio, followed by Pharmaceuticals (8.6%) and Auto Components (7.0%), creating meaningful financial sector concentration. Other notable holdings include JSW Energy, Reliance Industries, and Indus Towers, providing exposure across power, petroleum, and telecom.
While the fund's 1Y SIP XIRR of 11.77% lags the category average of 17.71%, its consistent alpha over its benchmark across 1Y to 15Y horizons demonstrates durable value-style stock selection. Calendar year returns of 20.73% in 2025 and 6.25% in 2026 YTD show steady absolute performance. The fund's strength lies in benchmark-relative consistency rather than category leadership on SIP returns.
This fund suits investors with a long-term horizon of 5+ years who believe in value investing and want lower downside capture than the broader market. It is appropriate for those with moderate risk tolerance, given its strong drawdown control and defensive characteristics. Investors should be comfortable with financial sector concentration and the possibility of SIP returns trailing category peers during momentum-driven markets.
- Consistent positive alpha versus the NIFTY50 Value 20 benchmark across all periods from 1Y to 15Y, including 21.10% alpha over 1Y
- Favorable capture asymmetry with 78.61% downside capture versus 106.47% upside capture, indicating capital protection in weak markets
- Well-diversified portfolio of 71 holdings with a low maximum drawdown of -0.11% and quick 22-day recovery
- 1Y SIP XIRR of 11.77% significantly trails the category average SIP XIRR of 17.71%
- Heavy concentration in the banking sector at 20.9% of the portfolio exposes investors to financial sector cyclicality
Generated on 05-09-2026, 3:04 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 | ₹12.74 L | 11.8% | -9.1% | 22.8% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY50 VALUE 20 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 11.8% | 15.2% | 17.7% | -3.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 12.6% | 11.9% | 5.1% | 19.0% | 1.70 | 25.09 | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY50 VALUE 20
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +21.10 | 1.00 | 106.5% | 78.6% | 15.6% | -5.5% |
| 3 Years | +9.52 | 0.95 | 104.8% | 78.7% | 8.7% | -1.3% |
| 5 Years | +5.49 | 0.95 | 104.8% | 78.7% | 5.1% | -0.8% |
| 7 Years | +3.81 | 0.95 | 104.8% | 78.7% | 3.6% | -0.6% |
| 10 Years | +2.54 | 0.95 | 104.8% | 78.7% | 2.5% | -0.4% |
| 12 Years | +2.06 | 0.95 | 104.8% | 78.7% | 2.1% | -0.3% |
| 15 Years | +1.57 | 0.95 | 104.8% | 78.7% | 1.7% | -0.3% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | ICICI Bank Limited | 5.01% |
| 2 | JSW Energy Limited | 2.78% |
| 3 | Axis Bank Limited | 2.53% |
| 4 | Reliance Industries Limited | 2.46% |
| 5 | Tube Investments Of India Limited | 2.44% |
| 6 | IndusInd Bank Limited | 2.34% |
| 7 | Shriram Finance Limited | 2.30% |
| 8 | HDFC Bank Limited | 2.27% |
| 9 | Punjab National Bank | 2.26% |
| 10 | Indus Towers Limited | 2.22% |