{"id":257645,"date":"2026-09-18T16:07:36","date_gmt":"2026-09-18T10:37:36","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-fund-direct-growth-review-2026\/"},"modified":"2026-09-18T16:07:36","modified_gmt":"2026-09-18T10:37:36","slug":"mahindra-manulife-mid-cap-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-fund-direct-growth-review-2026\/","title":{"rendered":"Mahindra Manulife Mid Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-mid-cap-fund-g-direct-plan\">Mahindra Manulife Mid Cap Fund Direct Growth Plan<\/a> has a NAV of \u20b940.8093 as of 17 September 2026 and a scheme AUM of \u20b95,406 Cr. Its 1-year, 3-year and 5-year returns are 6.84%, 16.78% and 17.10% respectively, and the fund carries a High Risk tag. Our view is that this is a mid-cap option for investors who can tolerate sharp swings in the short run in exchange for a stronger longer-term growth profile.<\/p>\n<p>The fund has lagged its benchmark over 1 year, but its 3-year and 5-year numbers are ahead of the index. That mix suggests a fund that has not been smooth in the near term, yet still has enough long-run compounding to remain relevant for investors with patience and a willingness to stay invested through volatility.<\/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-mid-cap-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-mid-cap-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-mid-cap-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Mahindra_Manulife_Mid_Cap\" title=\"Should you BUY or HOLD Mahindra Manulife Mid Cap?\">Should you BUY or HOLD Mahindra Manulife Mid Cap?<\/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-mid-cap-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-mid-cap-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-mid-cap-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-mid-cap-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-mid-cap-fund-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-fund-direct-growth-review-2026\/#What_is_the_current_NAV_of_Mahindra_Manulife_Mid_Cap_Fund_Direct_Growth_Plan\" title=\"What is the current NAV of Mahindra Manulife Mid Cap Fund Direct Growth Plan?\">What is the current NAV of Mahindra Manulife Mid Cap Fund Direct Growth Plan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-fund-direct-growth-review-2026\/#What_are_the_funds_1-year_3-year_and_5-year_returns\" title=\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\">What are the fund\u2019s 1-year, 3-year and 5-year returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-fund-direct-growth-review-2026\/#How_has_the_fund_done_versus_its_benchmark\" title=\"How has the fund done versus its benchmark?\">How has the fund done versus its benchmark?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-fund-direct-growth-review-2026\/#How_does_it_compare_with_peer_mid-cap_funds_on_returns\" title=\"How does it compare with peer mid-cap funds on returns?\">How does it compare with peer mid-cap funds on returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-fund-direct-growth-review-2026\/#What_is_the_minimum_SIP_amount\" title=\"What is the minimum SIP amount?\">What is the minimum SIP amount?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-fund-direct-growth-review-2026\/#Who_manages_the_fund_and_what_is_the_exit_load\" title=\"Who manages the fund and what is the exit load?\">Who manages the fund and what is the exit load?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-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-16\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-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-17\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-mid-cap-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>\u20b940.8093 as of 17 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b95,406 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.46%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>30 Jan 2018<\/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 Mid Cap<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Equity<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>1% on or before 3M, Nil after 3M<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Kirti Dalvi, Neelesh Dhamnaskar, Krishna Sanghavi<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Kirti Dalvi, Neelesh Dhamnaskar, and Krishna Sanghavi.<\/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>-4.66%<\/td>\n<td>-3.41%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>-2.47%<\/td>\n<td>-1.42%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>6.84%<\/td>\n<td>4.86%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>16.78%<\/td>\n<td>14.23%<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>17.10%<\/td>\n<td>14.71%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The recent picture is softer than the longer-term one. The fund was negative over both 1 month and 3 months, and it fell a little more than the benchmark in those windows. That tells us the portfolio has still been exposed to the usual mid-cap volatility rather than offering much downside shelter in the latest stretch.<\/p>\n<p>Over 1 year, the fund turned positive and stayed ahead of the benchmark. More importantly, the 3-year and 5-year returns also remain ahead of the index, which points to better compounding than the benchmark over a full market cycle. Our read is that the fund has recovered from weaker short-term phases, but the path has not been steady.<\/p>\n<p>The time pattern matters here. The return trend shows periods of pressure followed by recovery, which is typical of a portfolio with meaningful mid-cap exposure. That kind of profile can work for investors who can accept uneven interim results if the longer holding period is likely to capture the stronger compounding.<\/p>\n<p>Relative to the benchmark, the fund is ahead on 1-year, 3-year and 5-year returns, even though it has been a touch weaker in the latest 1-month and 3-month stretches. In our view, that split between short-term softness and medium-term resilience is the main performance takeaway.<\/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_Mid_Cap\"><\/span>Should you BUY or HOLD Mahindra Manulife Mid Cap?<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 Mid Cap? 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-mid-cap-fund-g-direct-plan\">Mahindra Manulife Mid Cap Fund Direct Growth Plan<\/a><\/td>\n<td>6.84%<\/td>\n<td>16.78%<\/td>\n<td>17.10%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/hsbc-midcap-fund-g-direct-plan\">HSBC Midcap Fund Direct Growth Plan<\/a><\/td>\n<td>15.97%<\/td>\n<td>22.92%<\/td>\n<td>18.06%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/woc-mid-cap-fund-g-direct-plan\">WOC Mid Cap Fund Direct Growth Plan<\/a><\/td>\n<td>11.1%<\/td>\n<td>21%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/helios-mid-cap-fund-g-direct-plan\">Helios Mid Cap Fund Direct Growth Plan<\/a><\/td>\n<td>10.06%<\/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\/iti-mid-cap-fund-g-direct-plan\">ITI Mid Cap Fund Direct Growth Plan<\/a><\/td>\n<td>8.51%<\/td>\n<td>19.17%<\/td>\n<td>15.91%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/baroda-bnp-paribas-mid-cap-fund-g-direct-plan\">Baroda BNP Paribas Mid Cap Fund Direct Growth Plan<\/a><\/td>\n<td>8.4%<\/td>\n<td>16.15%<\/td>\n<td>14.79%<\/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>Against the peer set, the fund\u2019s 1-year return is weaker than every peer listed here. The gap is especially clear versus the stronger 1-year numbers in the group, which suggests the recent stretch has been more difficult for this portfolio than for several comparable mid-cap funds.<\/p>\n<p>The longer record is more balanced. On 3-year returns, the fund stands above the two peer funds with lower available 3-year figures, but below the higher 3-year numbers shown by HSBC Midcap Fund Direct Growth Plan, WOC Mid Cap Fund Direct Growth Plan and ITI Mid Cap Fund Direct Growth Plan. On 5-year returns, it sits above Baroda BNP Paribas Mid Cap Fund Direct Growth Plan and ITI Mid Cap Fund Direct Growth Plan, while remaining below HSBC Midcap Fund Direct Growth Plan. The short-term and longer-term comparisons therefore tell different stories.<\/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>THE FEDERAL BANK LIMITED<\/td>\n<td>Bank<\/td>\n<td>3.6%<\/td>\n<\/tr>\n<tr>\n<td>INDUSIND BANK LIMITED<\/td>\n<td>Bank<\/td>\n<td>3.37%<\/td>\n<\/tr>\n<tr>\n<td>ADITYA BIRLA CAPITAL LIMITED<\/td>\n<td>Finance<\/td>\n<td>2.81%<\/td>\n<\/tr>\n<tr>\n<td>COFORGE LIMITED<\/td>\n<td>IT<\/td>\n<td>2.81%<\/td>\n<\/tr>\n<tr>\n<td>L&amp;T FINANCE LIMITED<\/td>\n<td>Finance<\/td>\n<td>2.79%<\/td>\n<\/tr>\n<tr>\n<td>GLENMARK PHARMACEUTICALS LIMITED<\/td>\n<td>Healthcare<\/td>\n<td>2.59%<\/td>\n<\/tr>\n<tr>\n<td>KEI INDUSTRIES LIMITED<\/td>\n<td>Electricals<\/td>\n<td>2.56%<\/td>\n<\/tr>\n<tr>\n<td>NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED<\/td>\n<td>Finance<\/td>\n<td>2.53%<\/td>\n<\/tr>\n<tr>\n<td>PB FINTECH LIMITED<\/td>\n<td>IT<\/td>\n<td>2.52%<\/td>\n<\/tr>\n<tr>\n<td>IDFC FIRST BANK LIMITED<\/td>\n<td>Bank<\/td>\n<td>2.13%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The largest holding is The Federal Bank Limited at 3.6%, which is sizeable for a single stock but not dominant on its own. The tenth holding is IDFC First Bank Limited at 2.13%, so the drop from first to tenth is not steep; the portfolio is spread across several positions rather than being built around one or two outsized bets.<\/p>\n<p>The top 10 holdings together account for approximately 27.71% of the portfolio, which means most of the disclosed exposure sits beyond the largest names and across a long tail of other positions. With 59 disclosed holdings overall, the fund appears diversified at the stock level even though individual positions can still matter in a mid-cap portfolio.<\/p>\n<p>That structure may help reduce reliance on any single holding, while still leaving enough room for individual companies to influence returns. We see a meaningful mix across banking, finance, IT, healthcare and electricals, but we would not treat the portfolio as sector-neutral because the larger names are still concentrated in a few business groups.<\/p>\n<p>To see all holdings, visit the <a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-mid-cap-fund-g-direct-plan\">Mahindra Manulife Mid Cap 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 suits investors who are comfortable with High Risk and who can stay invested for a longer horizon. The recent 1-month and 3-month declines show that the path can be choppy, while the 3-year and 5-year numbers show that patient capital has still had room to compound.<\/p>\n<p>The main trade-off is clear: you get a portfolio that has outpaced the benchmark over 1, 3 and 5 years, but you must accept that shorter stretches can lag and swing meaningfully. That makes it more appropriate for investors who can tolerate volatility in exchange for mid-cap growth potential rather than for those who need smoother near-term outcomes.<\/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> 1% 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<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_current_NAV_of_Mahindra_Manulife_Mid_Cap_Fund_Direct_Growth_Plan\"><\/span>What is the current NAV of Mahindra Manulife Mid Cap Fund Direct Growth Plan?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The current NAV is \u20b940.8093 as of 17 September 2026.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_are_the_funds_1-year_3-year_and_5-year_returns\"><\/span>What are the fund\u2019s 1-year, 3-year and 5-year returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund\u2019s 1-year, 3-year and 5-year returns are 6.84%, 16.78% and 17.10%.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_has_the_fund_done_versus_its_benchmark\"><\/span>How has the fund done versus its benchmark?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It has stayed ahead of the Nifty Mid Cap benchmark over 1 year, 3 years and 5 years, though it was weaker than the benchmark over both 1 month and 3 months.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_does_it_compare_with_peer_mid-cap_funds_on_returns\"><\/span>How does it compare with peer mid-cap funds on returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Its recent 1-year return is lower than the peer returns listed here, while its 3-year and 5-year numbers sit in the middle of the group. The comparison therefore looks weaker in the short run and more mixed over longer periods.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_minimum_SIP_amount\"><\/span>What is the minimum SIP amount?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The minimum SIP amount is \u20b9500.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_manages_the_fund_and_what_is_the_exit_load\"><\/span>Who manages the fund and what is the exit load?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund is managed by Kirti Dalvi, Neelesh Dhamnaskar and Krishna Sanghavi. The exit load is 1% if units are sold within 3 months and nil after 3 months.<\/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 Mid Cap Fund Direct Growth Plan has a mixed near-term record but a sturdier longer-term profile. It has outpaced the benchmark over 1, 3 and 5 years, yet its latest 1-month and 3-month numbers are softer and its 1-year peer comparison is weaker than several comparable funds. The High Risk tag fits that pattern. The portfolio is also broad enough to avoid heavy dependence on one name, while still leaving meaningful stock-specific influence. This is a fit for investors who can handle mid-cap volatility and who want to stay invested long enough for the longer compounding pattern to matter.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 18 September 2026 at 4:06 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 Mid Cap Fund Direct Growth Plan\",\"identifier\":\"mahindra-manulife-mid-cap-fund-g-direct-plan\",\"category\":\"Equity\",\"dateCreated\":\"30 Jan 2018\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":40.8093,\"valueReference\":\"as of 17 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"5406 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.46\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty Mid Cap\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":6.84},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":16.78},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":17.1},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Kirti Dalvi, Neelesh Dhamnaskar, Krishna Sanghavi\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Mahindra Manulife Mid Cap Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The current NAV is \u20b940.8093 as of 17 September 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, 3-year and 5-year returns are 6.84%, 16.78% and 17.10%.\"}},{\"@type\":\"Question\",\"name\":\"How has the fund done versus its benchmark?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It has stayed ahead of the Nifty Mid Cap benchmark over 1 year, 3 years and 5 years, though it was weaker than the benchmark over both 1 month and 3 months.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with peer mid-cap funds on returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its recent 1-year return is lower than the peer returns listed here, while its 3-year and 5-year numbers sit in the middle of the group. The comparison therefore looks weaker in the short run and more mixed over longer periods.\"}},{\"@type\":\"Question\",\"name\":\"What is the minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is \u20b9500.\"}},{\"@type\":\"Question\",\"name\":\"Who manages the fund and what is the exit load?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is managed by Kirti Dalvi, Neelesh Dhamnaskar and Krishna Sanghavi. The exit load is 1% if units are sold within 3 months and nil after 3 months.\"}}]}<\/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 Mid Cap Fund Direct Growth Plan has a NAV of \u20b940.8093 as of 17 September 2026, AUM of \u20b95,406 Cr and 1Y\/3Y\/5Y returns of 6.84%, 16.78% and 17.10%.<\/p>\n","protected":false},"author":38,"featured_media":257642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-257645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["257642"],"rank_math_title":["Mahindra Manulife Mid Cap Fund Review 2026"],"rank_math_description":["Mahindra Manulife Mid Cap Fund Direct Growth Plan NAV is \u20b940.8093 and 5Y return is 17.10% as of 17 Sep 2026."],"rank_math_focus_keyword":["Mahindra Manulife Mid Cap 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_Mid_Cap_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\/257645","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=257645"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/257645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/257642"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=257645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=257645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=257645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}