{"id":256769,"date":"2026-09-18T13:01:04","date_gmt":"2026-09-18T07:31:04","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/mahindra-manulife-multi-asset-allocation-fund-direct-growth-review-2026\/"},"modified":"2026-09-18T13:01:04","modified_gmt":"2026-09-18T07:31:04","slug":"mahindra-manulife-multi-asset-allocation-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/mahindra-manulife-multi-asset-allocation-fund-direct-growth-review-2026\/","title":{"rendered":"Mahindra Manulife Multi Asset Allocation Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-multi-asset-allocation-fund-g-direct-plan\">Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan<\/a> has a NAV of \u20b914.3207 as of 17 Sep 2026 and a scheme AUM of \u20b91,234 Cr. Its 1-year, 3-year and 5-year returns are 11.86%, Data not available and Data not available, and the fund sits in the High Risk category.<\/p>\n<p>Our view is that this is a multi-asset fund with a fairly active mix of gold, silver, equities, debt and REIT exposure, so it may suit investors who are comfortable with wider swings and want diversification across different return drivers rather than a pure equity story.<\/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-multi-asset-allocation-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-multi-asset-allocation-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-multi-asset-allocation-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Mahindra_Manulife_Multi_Asset_Allocation\" title=\"Should you BUY or HOLD Mahindra Manulife Multi Asset Allocation?\">Should you BUY or HOLD Mahindra Manulife Multi Asset Allocation?<\/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-multi-asset-allocation-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-multi-asset-allocation-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-multi-asset-allocation-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-multi-asset-allocation-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-multi-asset-allocation-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-multi-asset-allocation-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-multi-asset-allocation-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-multi-asset-allocation-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>\u20b914.3207 as of 17 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b91,234 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.36%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>13 Mar 2024<\/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>High 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>Hybrid<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>0.50% on or before 3M, Nil after 3M<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Renjith Sivaram, Rahul Pal, Kush Sonigara<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Renjith Sivaram, Rahul Pal and Kush Sonigara.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 17 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>-1.62%<\/td>\n<td>-3.66%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>1.41%<\/td>\n<td>-3.71%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>11.86%<\/td>\n<td>-7.13%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The recent pattern is steadier than the benchmark, which matters because the fund\u2019s 1-month return was only mildly negative while the benchmark fell more sharply. Over 3 months, the fund turned positive even as the benchmark remained in negative territory, which points to better short-term resilience.<\/p>\n<p>The 1-year return of 11.86% is also well ahead of the benchmark\u2019s -7.13%, so the fund has clearly done better over the latest full year. That said, the fund is still young, having launched in March 2024, so it does not yet offer a genuine 3-year or 5-year track record for judging how it behaves across a full market cycle.<\/p>\n<p>The daily path in the return series suggests intermittent pullbacks rather than a straight upward climb, which is consistent with a multi-asset strategy that can shift between gold, silver, equity and debt exposures. For investors, that means the fund may reduce reliance on one market engine, but it can still move unevenly from month to month.<\/p>\n<p>Because the longer record is not available, our view is that the current numbers are most useful for judging near-term execution and early stability, not for drawing strong conclusions about long-run compounding.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 17 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_Multi_Asset_Allocation\"><\/span>Should you BUY or HOLD Mahindra Manulife Multi Asset Allocation?<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 Multi Asset Allocation? 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-multi-asset-allocation-fund-g-direct-plan\">Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan<\/a><\/td>\n<td>11.86%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/360-one-multi-asset-allocation-fund-g-direct-plan\">360 ONE Multi Asset Allocation Fund Direct Growth Plan<\/a><\/td>\n<td>18.54%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/quant-multi-asset-allocation-fund-g-direct-plan\">Quant Multi Asset Allocation Fund Direct Growth Plan<\/a><\/td>\n<td>14.8%<\/td>\n<td>21.38%<\/td>\n<td>19.38%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/kotak-multi-asset-allocation-fund-g-direct-plan\">Kotak Multi Asset Allocation Fund Direct Growth Plan<\/a><\/td>\n<td>14.1%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/bandhan-multi-asset-allocation-fund-g-direct-plan\">Bandhan Multi Asset Allocation Fund Direct Growth Plan<\/a><\/td>\n<td>12.25%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/dsp-multi-asset-allocation-fund-g-direct-plan\">DSP Multi Asset Allocation Fund Direct Growth Plan<\/a><\/td>\n<td>12.2%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/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. On 1-year returns, the fund trails 360 ONE, Quant and Kotak, while remaining close to Bandhan and DSP. That tells us the near-term outcome is respectable but not as strong as the better peers in the set.<\/p>\n<p>The more meaningful gap is that one peer, Quant, also has a visible 3-year and 5-year record, and those figures are materially stronger than this fund\u2019s currently available history. So the peer picture says the fund has had a decent recent run, but it still has to build a longer track record before it can be assessed on the same footing as schemes with multi-year performance history.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 17 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>ICICI Prudential Gold ETF<\/td>\n<td>Domestic Mutual Funds Units &#8211; Gold<\/td>\n<td>12.65%<\/td>\n<\/tr>\n<tr>\n<td>ICICI Bank Limited<\/td>\n<td>Bank<\/td>\n<td>3.67%<\/td>\n<\/tr>\n<tr>\n<td>HDFC Bank Limited<\/td>\n<td>Bank<\/td>\n<td>3.44%<\/td>\n<\/tr>\n<tr>\n<td>Brookfield India Real Estate Trust<\/td>\n<td>Finance<\/td>\n<td>3.36%<\/td>\n<\/tr>\n<tr>\n<td>8.42% Muthoot Finance Limited 2029 (FRN) **<\/td>\n<td>Floating Rate Instruments<\/td>\n<td>3.02%<\/td>\n<\/tr>\n<tr>\n<td>Nippon India Silver ETF<\/td>\n<td>Domestic Mutual Funds Units &#8211; Silver<\/td>\n<td>3.01%<\/td>\n<\/tr>\n<tr>\n<td>ICICI Securities Limited 2026 **<\/td>\n<td>Commercial Paper<\/td>\n<td>2.83%<\/td>\n<\/tr>\n<tr>\n<td>Bharti Airtel Limited<\/td>\n<td>Telecom<\/td>\n<td>2.11%<\/td>\n<\/tr>\n<tr>\n<td>Reliance Industries Limited<\/td>\n<td>Crude Oil<\/td>\n<td>2.11%<\/td>\n<\/tr>\n<tr>\n<td>8.85% TVS Credit Services Limited 2027 **<\/td>\n<td>Corporate Debt<\/td>\n<td>2.03%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The largest holding, ICICI Prudential Gold ETF, sits at 12.65%, which is large enough to matter but not so dominant that the portfolio appears to lean on a single position. The drop from 12.65% to 3.67% at the second holding is steep, and the tenth holding at 2.03% shows that the visible book is spread across several smaller positions rather than clustered around just a few names.<\/p>\n<p>The top 10 holdings together account for approximately 38.23% of the portfolio, so the rest of the assets are spread across a longer tail of 61 additional disclosed holdings. That combination suggests diversification across many instruments, while still leaving the largest few positions with greater influence than the smaller ones.<\/p>\n<p>What stands out is the mix of listed equity, exchange-traded funds, debt-linked instruments and REIT exposure in the visible holdings. For investors, that means the fund may respond to more than one market cycle at a time, and the portfolio structure could soften reliance on a single asset class even though the visible weight in gold is meaningful.<\/p>\n<p>To see all holdings, visit the <a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-multi-asset-allocation-fund-g-direct-plan\">Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan<\/a> page<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 17 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 is better suited to investors who can handle High Risk and are comfortable with returns that may not move in a straight line. The short-term numbers are better than the benchmark, but the scheme has not yet built a 3-year or 5-year record, so the investment case relies more on early behaviour and portfolio design than on a long history.<\/p>\n<p>It may appeal to people looking for a multi-asset approach over a longer horizon, especially where the goal is diversification across gold, silver, equity and debt rather than pure equity exposure. The main trade-off is that this mix can improve resilience versus a single-asset fund, but it can also produce uneven returns from one period to the next.<\/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><strong>Exit load:<\/strong> 0.50% if units are sold within 3 months; nil after 3 months.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 17 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 Multi Asset Allocation Fund Direct Growth Plan?<\/strong><br \/>Its NAV is \u20b914.3207 as of 17 Sep 2026.<\/p>\n<p><strong>How has the fund performed in 1 year?<\/strong><br \/>The fund has returned 11.86% in 1 year as of 17 Sep 2026. That is ahead of the benchmark\u2019s -7.13% over the same period.<\/p>\n<p><strong>Are 3-year and 5-year returns available?<\/strong><br \/>No, the 3-year and 5-year returns are not available because the fund has not yet built those full track records.<\/p>\n<p><strong>How does the fund compare with its peers on 1-year returns?<\/strong><br \/>Its 1-year return of 11.86% trails 360 ONE, Quant and Kotak in the peer set shown here, while staying close to Bandhan and DSP.<\/p>\n<p><strong>What is the minimum SIP amount?<\/strong><br \/>The minimum SIP amount is \u20b9500.<\/p>\n<p><strong>What risk label and portfolio style does the fund carry?<\/strong><br \/>It is tagged High Risk, and its visible holdings include gold, silver, bank stocks, a REIT, debt instruments and select equity positions. The exit load is 0.50% for units sold within 3 months and nil after that.<\/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 Multi Asset Allocation Fund Direct Growth Plan has started with a decent one-year showing, but it does not yet have the longer history needed to judge steadier compounding across a full cycle. Compared with peers, the short-term return is acceptable rather than standout, while the portfolio mix gives it a diversified, multi-asset character. The High Risk label and the meaningful weight in gold make it more suited to investors who want breadth across asset classes and can live with uneven month-to-month movement.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 18 September 2026 at 1:00 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 Multi Asset Allocation Fund Direct Growth Plan\",\"identifier\":\"mahindra-manulife-multi-asset-allocation-fund-g-direct-plan\",\"category\":\"Hybrid\",\"dateCreated\":\"13 Mar 2024\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":14.3207,\"valueReference\":\"as of 17 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"1234 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.36\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":11.86},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Renjith Sivaram, Rahul Pal, Kush Sonigara\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its NAV is \u20b914.3207 as of 17 Sep 2026.\"}},{\"@type\":\"Question\",\"name\":\"How has the fund performed in 1 year?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund has returned 11.86% in 1 year as of 17 Sep 2026. That is ahead of the benchmark\u2019s -7.13% over the same period.\"}},{\"@type\":\"Question\",\"name\":\"Are 3-year and 5-year returns available?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No, the 3-year and 5-year returns are not available because the fund has not yet built those full track records.\"}},{\"@type\":\"Question\",\"name\":\"How does the fund compare with its peers on 1-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its 1-year return of 11.86% trails 360 ONE, Quant and Kotak in the peer set shown here, while staying close to Bandhan and DSP.\"}},{\"@type\":\"Question\",\"name\":\"What is the minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is \u20b9500.\"}},{\"@type\":\"Question\",\"name\":\"What risk label and portfolio style does the fund carry?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It is tagged High Risk, and its visible holdings include gold, silver, bank stocks, a REIT, debt instruments and select equity positions. The exit load is 0.50% for units sold within 3 months and nil after that.\"}}]}<\/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 Multi Asset Allocation Fund Direct Growth Plan has a NAV of \u20b914.3207 as of 17 Sep 2026 and 1-year return of 11.86%.<\/p>\n","protected":false},"author":38,"featured_media":256767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-256769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["256767"],"rank_math_title":["Mahindra Manulife Multi Asset Review 2026"],"rank_math_description":["Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan NAV \u20b914.3207; 1Y return 11.86% as of 17 Sep 2026."],"rank_math_focus_keyword":["Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan review"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/Mahindra_Manulife_Multi_Asset_Allocation_Fund_Direct_Growth_Review_2026_NAV_Returns_Portfolio_Should_You_Invest_bullish.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/256769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=256769"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/256769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/256767"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=256769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=256769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=256769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}