Mahindra Manulife Value Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mahindra Manulife Value Fund Direct Growth Plan has a NAV of ₹12.5478 as of 15 Sep 2026 and scheme AUM of ₹1,028 Cr. Its 1-year, 3-year and 5-year returns are 9.33%, Data not available and Data not available, and the fund sits in the High Risk category.
Our view is that this is a value-oriented equity fund that has delivered a positive one-year outcome, but the short operating history means its longer-horizon return record is still not established. The portfolio is spread across 70 holdings, with the largest positions concentrated in banks, energy and cyclical names, so investors may want to be comfortable with uneven performance and higher sensitivity to market swings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹12.5478 as of 15 Sep 2026 |
| AUM | ₹1,028 Cr |
| Expense Ratio | 0.49% |
| Launch Date | 03 Mar 2025 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 0.50% on or before 3M, Nil after 3M |
| Fund Managers | Krishna Sanghavi, Vishal Jajoo |
The fund is managed by Krishna Sanghavi and Vishal Jajoo.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.76% | -4.81% |
| 3M | -0.79% | -3.63% |
| 1Y | 9.33% | -8.27% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The near-term pattern has been mixed, with the fund declining over one month and three months, even though both periods were still better than the benchmark. That tells us the recent phase has been weak in absolute terms, but comparatively less weak than the Nifty 50.
The one-year figure is much stronger at 9.33%, while the benchmark is down 8.27% over the same horizon. That gap suggests the fund has handled the last year far better than the index, which is important for a value strategy that is expected to behave differently from the market at times.
Because the fund launched on 03 Mar 2025, a three-year or five-year trailing record is not available. That makes the one-year comparison the most useful reference point today, but it also means we should be careful about reading too much into a short track record. The multiplier pattern points to a fund that has recovered after earlier softness, yet it has not moved in a straight line.
For investors, the main takeaway is that the fund has shown the ability to stay ahead of the benchmark over one year, but the recent pullback means the path has not been smooth. In our view, that is consistent with a High Risk equity fund that can swing around the trend rather than follow it neatly.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Mahindra Manulife Value?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Mahindra Manulife Value? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mahindra Manulife Value Fund Direct Growth Plan | 9.33% | Data not available | Data not available |
| Quant Value Fund Direct Growth Plan | 19.58% | 19.9% | Data not available |
| LIC MF Value Fund Direct Growth Plan | 17.5% | 15.81% | 13.33% |
| Aditya Birla SL Value Fund Direct Growth Plan | 10.2% | 13.21% | 13.75% |
| Axis Value Fund Direct Growth Plan | 9.73% | 17.74% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s one-year return is below the strongest peer figures in this set, while still staying close to one of the peer outcomes. That places the short-term comparison in a different light from the benchmark view, where the fund is comfortably ahead of the index.
On three-year and five-year numbers, the peer set with available history looks stronger than this fund because Mahindra Manulife Value Fund Direct Growth Plan does not yet have those longer trailing figures. That means peers with older records provide a much fuller compounding picture, while this fund remains in the early stage of its own history.
So the story is split: recent performance has been respectable versus the benchmark, but peers with longer records show what a more established value fund can deliver across multiple cycles. For investors, that makes the short history an important context rather than a minor detail.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Limited | Bank | 3.89% |
| Reliance Industries Limited | Crude Oil | 3.48% |
| Jindal Saw Ltd | Iron & Steel | 2.60% |
| Axis Bank Limited | Bank | 2.53% |
| Vodafone Idea Limited | Telecom | 2.41% |
| Oil India Limited | Crude Oil | 2.39% |
| Adani Enterprises Limited | Trading | 2.33% |
| Indusind Bank Limited | Bank | 2.23% |
| Triparty Repo | Cash & Cash Equivalents and Net Assets | 2.20% |
| JSW Energy Limited | Power | 2.15% |
The top 10 holdings account for approximately 26.21% of the portfolio.
To see all holdings, visit the Mahindra Manulife Value Fund Direct Growth Plan page
ICICI Bank Limited is the largest holding at 3.89%, and the next few positions are only slightly smaller, which keeps the top end of the portfolio fairly tightly grouped. The drop from the largest holding to the tenth is not dramatic, because the weights sit in a narrow band from 3.89% to 2.15%.
That pattern suggests no single holding dominates the disclosed list, but the portfolio still has a noticeable tilt toward financials, energy and selected cyclical names. Those exposures may give the fund a clearer value-style character, though they can also make performance more sensitive to sector-specific sentiment.
With 26.21% in the top 10 and 70 disclosed holdings overall, the fund appears to combine a meaningful core of larger positions with a long tail of smaller ones. In our view, that is more balanced than a highly concentrated portfolio, yet the visible weights are still large enough that the leading names may influence outcomes.
Source data date: as of 15 Sep 2026
Who should invest
This fund is best suited to investors who are comfortable with High Risk equity exposure and can tolerate a return path that may move sharply over shorter periods. The one-year result is constructive, but the recent one-month and three-month softness shows that the journey is unlikely to be smooth.
A longer investment horizon makes more sense here because the fund’s track record is still young and the three-year and five-year numbers are not yet available. Investors who want a value-style fund that can diverge from the benchmark may find the setup interesting, but they need to accept that the short history leaves more uncertainty than a seasoned scheme would.
The trade-off is straightforward: there is potential for the fund to behave differently from the index and at times do better, but that comes with higher volatility and a thinner long-term record. For patient investors who can live with that mix, it can fit as part of a diversified equity allocation rather than as a low-fluctuation core holding.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.50% | Long-term capital gains tax |
Exit load applies at 0.50% if units are sold within 3 months. No exit load applies after 3 months.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Mahindra Manulife Value Fund Direct Growth Plan?
Its NAV is ₹12.5478 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 9.33%. The 3-year and 5-year returns are Data not available because the fund does not yet have those trailing periods.
How has it done versus the benchmark?
Over 1 year, the fund is ahead of the Nifty 50, which is down 8.27%. Over 1 month and 3 months, the fund is also less weak than the benchmark, even though both have been negative.
How does it compare with peers on available return data?
Its 1-year return is below Quant Value Fund Direct Growth Plan and LIC MF Value Fund Direct Growth Plan, and close to Axis Value Fund Direct Growth Plan. The longer trailing comparison is limited because this fund does not yet have 3-year or 5-year figures.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Krishna Sanghavi and Vishal Jajoo. The exit load is 0.50% if units are sold within 3 months, and nil after 3 months.
Bottom line
Mahindra Manulife Value Fund Direct Growth Plan has a better one-year record than its benchmark, but the recent shorter-period numbers have been softer, which underlines that the path has not been steady. Its peer comparison is mixed because some longer-established value funds show stronger trailing returns, while this fund still lacks 3-year and 5-year history. The High Risk label, along with a portfolio that leans into banks, energy and cyclical names, makes it more suitable for investors who can wait through uneven phases.
Published on 16 September 2026 at 1:59 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.