Mahindra Manulife Business Cycle Fund
The Scheme seek to generate long term capital appreciation by investing predominantly in equity and equity related securities with a focus on identifying and investing in business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy.
Growthvine rating: 4/5 — ranked #31 of 186 in category.
Fund basics
| Category | Equity: Thematic |
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| NAV | ₹14.35 (as of 2026-10-22) |
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| AUM | ₹1,291 Cr |
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| Expense ratio | 1.85% |
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| Riskometer | Very High |
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| Fund manager | Krishna Sanghavi |
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| Exit load | 1% for redemption within 3 months |
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Performance & risk
| Sharpe ratio | 0.56 |
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| Standard deviation | 16.78% |
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| Max drawdown | −22.00% |
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| Alpha | 4.79 |
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| Beta | 1.03 |
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Over 5 years, captured 116.1% of Nifty 500's upside and 97.2% of its downside.
Market cap allocation
| Large cap | 44.5% |
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| Mid cap | 23.1% |
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| Small cap | 32.3% |
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Concentration
| Top 5 holdings | 15.9% |
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| Top 10 holdings | 27.9% |
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| Total holdings | 68 |
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Top holdings
- Reliance Industries Ltd — 3.8%
- Grasim Industries Ltd — 3.2%
- ICICI Bank Ltd. — 3.1%
- JSW Energy Limited — 3.0%
- AXIS Bank Ltd. — 2.7%
- Bandhan Bank Limited — 2.5%
- IndusInd Bank Ltd. — 2.5%
- Adani Enterprises Ltd. — 2.5%
- INDUS TOWERS LIMITED — 2.3%
- Bajaj Auto Limited — 2.3%
Top sectors
- Banking & Financial — 15.6%
- Industrial Products — 12.1%
- Pharma & Biotech — 9.5%
Calendar-year track record
| Year | Return | Quartile | Category rank |
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| 2026 (partial) | −6.8% | Q3 | #97 of 167 |
| 2025 | 6.6% | Q2 | #42 of 132 |
| 2024 | 25.9% | Q1 (Top) | #18 of 86 |