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: 3/5 — ranked #50 of 179 in category.
Fund basics
| Category | Equity: Thematic |
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| NAV | ₹15.94 (as of 2026-08-21) |
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| AUM | ₹1,337 Cr |
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| Expense ratio | 1.84% |
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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
| Standard deviation | 0.00% |
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| Max drawdown | -22.00% |
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| Alpha | 0 |
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| Beta | 0 |
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Over 5 years, captured 115.3% of Nifty 500's upside and 98.0% of its downside.
Market cap allocation
| Large cap | 48.8% |
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| Mid cap | 25.8% |
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| Small cap | 25.4% |
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Concentration
| Top 5 holdings | 16.2% |
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| Top 10 holdings | 28.5% |
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| Total holdings | 64 |
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Top holdings
- Reliance Industries Ltd — 4.0%
- JSW Energy Limited — 3.3%
- ICICI Bank Ltd. — 3.2%
- Grasim Industries Ltd — 3.1%
- Bajaj Auto Limited — 2.7%
- IndusInd Bank Ltd. — 2.7%
- AXIS Bank Ltd. — 2.6%
- Triparty Repo — 2.6%
- Adani Enterprises Ltd. — 2.4%
- INDUS TOWERS LIMITED — 2.3%
Top sectors
- Banking & Financial — 17.3%
- Pharma & Biotech — 10.1%
- Energy — 8.5%
Calendar-year track record
| Year | Return | Quartile | Category rank |
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| 2026 (partial) | 3.5% | Q3 | #85 of 167 |
| 2025 | 6.6% | Q2 | #42 of 132 |
| 2024 | 25.9% | Q1 (Top) | #18 of 86 |