{"id":249467,"date":"2026-09-16T13:55:43","date_gmt":"2026-09-16T08:25:43","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/"},"modified":"2026-09-16T13:55:43","modified_gmt":"2026-09-16T08:25:43","slug":"mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/","title":{"rendered":"Mahindra Manulife Ultra Short Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-ultra-short-term-fund-g-direct-plan\">Mahindra Manulife Ultra Short Term Fund Direct Growth Plan<\/a> has a NAV of \u20b91523.7107 as of 15 Sep 2026 and an AUM of \u20b9221 Cr. Its 1-year, 3-year and 5-year returns are 6.69%, 7.3% and 6.59%, and the fund sits in the Medium Risk category.<\/p>\n<p>Our view is that this is a steadier debt option for conservative investors who want moderate income-oriented compounding without taking equity-style swings. The return profile has stayed broadly stable over longer periods, while the portfolio\u2019s short-tenor debt and cash mix should help keep day-to-day movement contained.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Quick_facts\" title=\"Quick facts\">Quick facts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Performance\" title=\"Performance\">Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Mahindra_Manulife_Ultra_Short_Term\" title=\"Should you BUY or HOLD Mahindra Manulife Ultra Short Term?\">Should you BUY or HOLD Mahindra Manulife Ultra Short Term?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Peer_comparison\" title=\"Peer comparison\">Peer comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Portfolio_where_your_money_goes\" title=\"Portfolio: where your money goes\">Portfolio: where your money goes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Who_should_invest\" title=\"Who should invest\">Who should invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Tax_and_exit_load\" title=\"Tax and exit load\">Tax and exit load<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Bottom_line\" title=\"Bottom line\">Bottom line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#Explore_mutual_funds_with_Univest\" title=\"Explore mutual funds with Univest\">Explore mutual funds with Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-ultra-short-term-fund-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Quick_facts\"><\/span>Quick facts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Particular<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b91,523.7107 as of 15 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b9221 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.28%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>17 Oct 2019<\/td>\n<\/tr>\n<tr>\n<td>Min SIP<\/td>\n<td>\u20b9500<\/td>\n<\/tr>\n<tr>\n<td>Risk Category<\/td>\n<td>Medium Risk<\/td>\n<\/tr>\n<tr>\n<td>Benchmark<\/td>\n<td>Nifty 50<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Debt<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>No exit load<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Rahul Pal, Amit Garg<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Rahul Pal and Amit Garg.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Performance\"><\/span>Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Fund return<\/th>\n<th>Benchmark return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1M<\/td>\n<td>0.48%<\/td>\n<td>-4.81%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>1.75%<\/td>\n<td>-3.63%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>6.69%<\/td>\n<td>-8.27%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>7.3%<\/td>\n<td>5.59%<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>6.59%<\/td>\n<td>5.58%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund has held up well over the short term, with positive 1-month and 3-month returns while the benchmark was negative over the same periods. That tells us the portfolio has been able to avoid the sharper swings seen in the benchmark and still preserve a small positive return stream.<\/p>\n<p>Over one year, the fund\u2019s return is 6.69% versus -8.27% for the benchmark. That is a wide gap and it reinforces that the fund has behaved very differently from a broad equity-style index. For a debt fund, that separation is more important than chasing high upside, because it points to capital preservation and smoother compounding.<\/p>\n<p>The 3-year return of 7.3% and the 5-year return of 6.59% both sit above the benchmark\u2019s 5.59% and 5.58%. The longer-term pattern suggests a relatively consistent compounding profile rather than sharp bursts of performance. The recent numbers are also aligned with that longer-term picture, so we do not see a major disconnect between short-term behaviour and the 3-year or 5-year trend.<\/p>\n<p>In practical terms, this is the kind of return path that suits an investor who values stability more than excitement. The fund has not relied on a single strong period to build its record; instead, it has shown a steadier pace that is easier to hold through changing rate conditions.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<section class=\"univest-mf-premium-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;border:1px solid #d8e3f0;background:#f7faff\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_Mahindra_Manulife_Ultra_Short_Term\"><\/span>Should you BUY or HOLD Mahindra Manulife Ultra Short Term?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A fund&#8217;s past returns alone don&#8217;t tell you whether you should buy it today or continue holding it.<\/p>\n<p>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.<\/p>\n<p><strong>Already holding Mahindra Manulife Ultra Short Term? Thinking of investing now?<\/strong><\/p>\n<p><a href=\"https:\/\/univest.in\/mutual-funds\" style=\"font-weight:700;text-decoration:none\">Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium<\/a><\/p>\n<\/section>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Peer_comparison\"><\/span>Peer comparison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Fund<\/th>\n<th>1Y return<\/th>\n<th>3Y return<\/th>\n<th>5Y return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-ultra-short-term-fund-g-direct-plan\">Mahindra Manulife Ultra Short Term Fund Direct Growth Plan<\/a><\/td>\n<td>6.69%<\/td>\n<td>7.3%<\/td>\n<td>6.59%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/nippon-india-ultra-short-term-fund-g-direct-plan\">Nippon India Ultra Short Term Fund Direct Growth Plan<\/a><\/td>\n<td>7.02%<\/td>\n<td>7.58%<\/td>\n<td>6.97%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/axis-ultra-short-term-fund-g-direct-plan\">Axis Ultra Short Term Fund Direct Growth Plan<\/a><\/td>\n<td>6.86%<\/td>\n<td>7.46%<\/td>\n<td>6.76%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/invesco-india-ultra-short-term-fund-g-direct-plan\">Invesco India Ultra Short Term Fund Direct Growth Plan<\/a><\/td>\n<td>6.8%<\/td>\n<td>7.34%<\/td>\n<td>6.6%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/dsp-ultra-short-term-fund-g-direct-plan\">DSP Ultra Short Term Fund Direct Growth Plan<\/a><\/td>\n<td>6.8%<\/td>\n<td>7.44%<\/td>\n<td>6.65%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/uti-ultra-short-term-fund-g-direct-plan\">UTI Ultra Short Term Fund Direct Growth Plan<\/a><\/td>\n<td>6.74%<\/td>\n<td>7.34%<\/td>\n<td>7.18%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.<\/p>\n<p>On 1-year return, the fund trails the stronger peer readings in this set, including Nippon India Ultra Short Term Fund Direct Growth Plan at 7.02% and Axis Ultra Short Term Fund Direct Growth Plan at 6.86%. The gap is not large, but it does show that the fund is a little behind the best recent numbers among the peers listed here.<\/p>\n<p>The longer horizon picture is more balanced. Its 3-year return of 7.3% is below Nippon India and Axis, but still comfortably in the same band as the rest of the group. On 5-year return, it is also in the middle of the peer range, with UTI ahead at 7.18% and several peers close to its level. That makes the fund look more steady than standout on peer comparison, especially over the longer stretch.<\/p>\n<p>So the short-term and longer-term comparisons tell a slightly different story: recent performance is decent but not the strongest in this set, while the multi-year record is more competitive and broadly consistent with a stable debt-fund profile.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<div class=\"univest-peer-login-cta\" style=\"margin:20px 0;padding:16px 18px;border:1px solid #d8e3f0;border-radius:8px;background:#f7faff\">\n<p style=\"margin:0\"><strong>Want to know more?<\/strong> <a href=\"https:\/\/univest.in\/user\/log-in\" style=\"font-weight:700;text-decoration:none\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Portfolio_where_your_money_goes\"><\/span>Portfolio: where your money goes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding<\/th>\n<th>Sector<\/th>\n<th>Weight<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Small Industries Dev Bank of India 2027 ** #<\/td>\n<td>Certificate of Deposit<\/td>\n<td>8.32%<\/td>\n<\/tr>\n<tr>\n<td>Canara Bank 2026 ** #<\/td>\n<td>Certificate of Deposit<\/td>\n<td>8.01%<\/td>\n<\/tr>\n<tr>\n<td>7.83% Indian Railway Finance Corporation Limited 2027 **<\/td>\n<td>Corporate Debt<\/td>\n<td>7.24%<\/td>\n<\/tr>\n<tr>\n<td>Reverse Repo<\/td>\n<td>Cash &amp; Cash Equivalents and Net Assets<\/td>\n<td>7%<\/td>\n<\/tr>\n<tr>\n<td>7.8% National Bank for Agriculture and Rural Development 2027<\/td>\n<td>Corporate Debt<\/td>\n<td>6.32%<\/td>\n<\/tr>\n<tr>\n<td>7.64% REC Limited 2027<\/td>\n<td>Corporate Debt<\/td>\n<td>6.31%<\/td>\n<\/tr>\n<tr>\n<td>8.30% Godrej Properties Limited 2027 **<\/td>\n<td>Corporate Debt<\/td>\n<td>5.43%<\/td>\n<\/tr>\n<tr>\n<td>7.95% Mindspace Business Parks Reit 2027 **<\/td>\n<td>Corporate Debt<\/td>\n<td>4.52%<\/td>\n<\/tr>\n<tr>\n<td>7.8445% Tata Capital Housing Finance Limited 2026 **<\/td>\n<td>Corporate Debt<\/td>\n<td>4.51%<\/td>\n<\/tr>\n<tr>\n<td>364 Days Tbill 2026<\/td>\n<td>Treasury Bills<\/td>\n<td>4.49%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The top 10 holdings account for approximately 62.15% of the portfolio.<\/p>\n<p>To see all holdings, visit the <a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-ultra-short-term-fund-g-direct-plan\">Mahindra Manulife Ultra Short Term Fund Direct Growth Plan<\/a> page<\/p>\n<p>The largest position, Small Industries Dev Bank of India 2027 ** #, carries an 8.32% weight, so it is meaningful but not dominating on its own. The next few holdings are also sizeable, with the second through tenth positions stepping down gradually rather than falling off sharply.<\/p>\n<p>That pattern suggests a portfolio that is spread across a set of short-duration money market and debt exposures, with certificate of deposit and corporate debt lines taking much of the visible allocation. The top 10 together make up 62.15% of the portfolio, and the fact that there are 29 disclosed holdings points to a reasonably broad tail beyond the largest names.<\/p>\n<p>Our view is that this structure may help soften the impact of any single holding, while still allowing the larger positions to influence returns. It does not look overly concentrated in one issuer, but it also is not so dispersed that the top holdings lose importance.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_should_invest\"><\/span>Who should invest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This fund suits investors who are comfortable with low-to-moderate volatility and want a debt allocation that has delivered stable compounding rather than sharp jumps. The Medium Risk label fits an investor who can accept some movement, but who mainly values preservation and smoother returns.<\/p>\n<p>A longer investment horizon is more appropriate than a very short holding period, because the 3-year and 5-year numbers give a better picture of the fund\u2019s steadiness than any single month. The main trade-off is clear: investors may give up some upside compared with riskier categories, but they get a return profile that has been more resilient than the benchmark and fairly consistent against peer funds.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Tax_and_exit_load\"><\/span>Tax and exit load<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding period<\/th>\n<th>Tax rate<\/th>\n<th>Description<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Units held less than 1 year<\/td>\n<td>20%<\/td>\n<td>Short-term capital gains tax<\/td>\n<\/tr>\n<tr>\n<td>Units held more than 1 year<\/td>\n<td>12.5%<\/td>\n<td>Long-term capital gains tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>No exit load.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>What is the current NAV of Mahindra Manulife Ultra Short Term Fund Direct Growth Plan?<\/strong><br \/>The current NAV is \u20b91523.7107 as of 15 Sep 2026.<\/p>\n<p><strong>What are the fund\u2019s 1-year, 3-year and 5-year returns?<\/strong><br \/>The fund\u2019s 1-year return is 6.69%, the 3-year return is 7.3% and the 5-year return is 6.59%.<\/p>\n<p><strong>How does the fund compare with its benchmark?<\/strong><br \/>It has been ahead of the benchmark across the reported periods. For example, the benchmark\u2019s 1-year return is -8.27% compared with the fund\u2019s 6.69%.<\/p>\n<p><strong>How does it compare with the peer funds listed here?<\/strong><br \/>Its recent return is a little below the strongest peer readings, but its 3-year and 5-year numbers remain broadly competitive. That makes the fund look steady rather than exceptional within the listed group.<\/p>\n<p><strong>Is there a minimum SIP amount?<\/strong><br \/>The minimum SIP amount is \u20b9500.<\/p>\n<p><strong>Who manages the fund and is there an exit load?<\/strong><br \/>The fund is managed by Rahul Pal and Amit Garg. There is no exit load if units are sold anytime.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span>Bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mahindra Manulife Ultra Short Term Fund Direct Growth Plan has shown steadier longer-term compounding than the benchmark, and its recent returns remain broadly in line with that stable pattern. Against the peer set, the fund is competitive over multiple years, though not the strongest recent performer. The Medium Risk profile, short-duration debt mix and meaningful cash-like exposure make it suitable for investors who want a calmer debt allocation with measured return potential rather than aggressive upside.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 16 September 2026 at 1:53 PM IST<\/p>\n<section class=\"univest-login-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;background:#eef5ff;border:1px solid #cddff7;text-align:center\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Explore_mutual_funds_with_Univest\"><\/span>Explore mutual funds with Univest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Review mutual fund data, compare performance and explore fund insights on Univest.<\/p>\n<p><a href=\"https:\/\/univest.in\/user\/log-in\" style=\"display:inline-block;padding:11px 20px;border-radius:6px;background:#1f4e79;color:#fff !important;text-decoration:none;font-weight:700\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"RIA_disclosure\"><\/span>RIA disclosure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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.<\/p>\n<\/section>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"InvestmentFund\",\"name\":\"Mahindra Manulife Ultra Short Term Fund Direct Growth Plan\",\"identifier\":\"mahindra-manulife-ultra-short-term-fund-g-direct-plan\",\"category\":\"Debt\",\"dateCreated\":\"17 Oct 2019\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":1523.7107,\"valueReference\":\"as of 15 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"221 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.28\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":6.69},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":7.3},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":6.59},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Rahul Pal, Amit Garg\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Mahindra Manulife Ultra Short Term Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The current NAV is \u20b91523.7107 as of 15 Sep 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund\u2019s 1-year return is 6.69%, the 3-year return is 7.3% and the 5-year return is 6.59%.\"}},{\"@type\":\"Question\",\"name\":\"How does the fund compare with its benchmark?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It has been ahead of the benchmark across the reported periods. For example, the benchmark\u2019s 1-year return is -8.27% compared with the fund\u2019s 6.69%.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with the peer funds listed here?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its recent return is a little below the strongest peer readings, but its 3-year and 5-year numbers remain broadly competitive. That makes the fund look steady rather than exceptional within the listed group.\"}},{\"@type\":\"Question\",\"name\":\"Is there a minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is \u20b9500.\"}},{\"@type\":\"Question\",\"name\":\"Who manages the fund and is there an exit load?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is managed by Rahul Pal and Amit Garg. There is no exit load if units are sold anytime.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Organization\",\"name\":\"Uniapps Investment Adviser Pvt. Ltd.\",\"description\":\"SEBI Registered Investment Adviser INA000017639\"}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mahindra Manulife Ultra Short Term Fund Direct Growth Plan has a NAV of \u20b91523.7107 as of 15 Sep 2026, with 1Y\/3Y\/5Y returns of 6.69%\/7.3%\/6.59% and a Medium Risk profile.<\/p>\n","protected":false},"author":38,"featured_media":249466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-249467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["249466"],"rank_math_title":["Mahindra Manulife Ultra Short Term Fund: NAV &amp; Returns"],"rank_math_description":["Mahindra Manulife Ultra Short Term Fund Direct Growth Plan NAV \u20b91523.7107 as of 15 Sep 2026; 1Y return 6.69%. 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