April 7, 2026
RA Jainee
Canara Robeco Manufacturing Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 11.9 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 11.9 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 1,000 |
| Min. No of Cheques | 6 |
| Benchmark | Nifty India Manufacturing TRI |
| AUM Rs. | 1,580 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.90% |
| 1 Year Return (%) | 7.79 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 8.81% |
⚖️ Sahifund Review – Canara Robeco Manufacturing Fund ✔
✓ PLUS:
• Decent early-stage performance with returns broadly in line with category despite volatile manufacturing cycle
• Slight edge vs category average (7.79% vs ~6.7%) shows reasonable stock selection ability
• Diversified portfolio (50+ stocks) reduces single-stock risk within a thematic space
• Low portfolio turnover (~3%) indicates stability and long-term investment approach
• Backed by credible fund house Canara Robeco Mutual Fund with strong equity pedigree
• Balanced allocation across large, mid and small caps within manufacturing theme
• SIP-friendly for investors wanting to ride India’s long-term manufacturing growth story
⚖️ MINUS:
• Very short track record (~2 years) – no proven performance across market cycles
• Underperformance vs benchmark (8.26%) and some peers like ICICI/Kotak funds
• Weak recent momentum (negative YTD / 3–6 month returns) indicates cyclical pressure
• Thematic concentration risk – heavy dependence on manufacturing sector outlook
• High valuation portfolio (P/E ~41) leaves limited margin of safety
• Large-cap tilt (~53%) may cap aggressive upside during sector rallies
• Category itself is volatile and timing-dependent, unsuitable for conservative investors
Sahifund View (Decisive Line):
A high-risk thematic bet—only for disciplined SIP investors with strong conviction in India’s manufacturing growth story.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Nobody should invest in Manufacturing funds in our opinion, because:
• They have a narrow focus on only companies following the manufacturing theme
• Instead, diversified equity funds which invest across sectors/themes are better
If you still choose to invest:
1. Invest only through SIP
2. Have a 7+ year investment horizon
3. Be prepared to withstand interim sharp declines in investment value
Fund’s Investment Strategy:
The scheme seeks to generate long-term capital appreciation by investing predominantly in equities and equity related instruments of companies engaged in the Manufacturing theme.
Fund Manager:
1) Pranav Gokhale
Education: Mr. Gokhale is a Chartered Accountant & holds M.Com degree.
Experience: Prior to joining Canara Robeco Mutual Fund, he has worked with Invesco Mutual Fund, IL&FS, ICICI Direct, Rosy Blue Securities Pvt. Ltd., and International Ship Repair LLC Fujairiah.
2) Shridatta Bhandwaldar
Education: Mr. Bhandwaldar is a BE (Mechanical) and MMS (Finance).
Experience: Prior to joining Canara Robeco Mutual Fund he was associated with SBI Pension Funds Pvt. Ltd. (Jul 2012-Jun 2016) as Head-Research, Heritage India Advisory Pvt. Ltd. (Oct 2009-Jun 2012) as Senior Equity Analyst, Motilal Oswal Securities (Jan 2008-Sep 2009) and MF Global Securities (Apr 2006-Dec 2008).
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 365 days |
Basic Details of Canara Robeco Manufacturing Fund
| Fund House | Canara Robeco Mutual Fund |
| Launch Date | 11-Mar-24 |
| Return Since Launch | 8.81% |
| Benchmark | Nifty India Manufacturing TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 1,580 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.90% |
| (As on 31-Mar-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 3.00% |
Canara Robeco Manufacturing Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Canara Robeco Manufacturing Dir | -6.45 | -0.34 | -6.67 | -7.32 | -7.25 | 7.79 | — | — | — | — |
| BSE India Manufacturing TRI | -7.33 | 1.47 | -7.31 | -6.94 | -1.88 | 8.26 | — | — | — | — |
| Equity: Thematic-Manufacturing | -7.58 | -0.38 | -7.55 | -8.78 | -6.01 | 6.73 | — | — | — | — |
| Rank within category | 5 | 7 | 5 | 5 | 12 | 9 | — | — | — | — |
| Number of funds in category | 16 | 16 | 16 | 16 | 16 | 15 | 4 | 1 | 1 | 1 |
Peer Comparison of Canara Robeco Manufacturing Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Canara Robeco Manufacturing Dir | Unrated | 7.79 | — | — | 0.90 | 1,580 | 8.81 | 1.00 (365) | 2Y | 3.00 |
| HDFC Manufacturing Dir | Unrated | 4.97 | — | — | 0.84 | 10,578 | 1.51 | 1.00 (30) | 1Y 10M | 26.58 |
| ICICI Pru Manufacturing Dir | Unrated | 9.65 | 23.72 | 20.01 | 0.81 | 6,601 | 18.85 | 1.00 (365) | 7Y 5M | 29.00 |
| Axis India Manufacturing Dir | Unrated | 8.54 | — | — | 0.47 | 5,176 | 14.90 | 1.00 (90) | 2Y 3M | 54.00 |
| Kotak Manufacture in India Dir | Unrated | 10.52 | 21.19 | — | 0.59 | 2,648 | 17.86 | 0.50 (90) | 4Y 1M | 38.00 |
Canara Robeco Manufacturing Fund Portfolio
| No. of Stocks | 51 |
| Top 10 Stocks | 41.69% |
| Top 5 Stocks | 25.56% |
| Top 3 Sectors | 75.80% |
| Portfolio P/B Ratio | 5.47 |
| Portfolio P/E Ratio | 41.26 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 93,947 | 1,17,015 |
| Giant (%) | — | — |
| Large (%) | 53.26 | 57.67 |
| Mid (%) | 17.05 | 22.36 |
| Small (%) | 29.69 | 19.97 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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