April 24, 2026
RA Jainee
Mahindra Manulife Business Cycle Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 15.95 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 13.7 |
| Min. Investment (Rs.) | 1,000 |
| Min. SIP Investment (Rs.) | 500 |
| Min. No of Cheques | 6 |
| Benchmark | NIFTY 500 TRI |
| AUM Rs. | 1,177 Cr |
| (As on 31-Mar-2026) | |
| Expense | 0.55% |
| 1 Year Return (%) | 11.00 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 19.55% |
⚖️ Sahifund Review – Mahindra Manulife Business Cycle Fund ✔
PLUS: Stability, track record, cost efficiency
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MINUS: Large AUM, large-cap bias, momentum lag
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Sahifund View (Decisive Line):
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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?
Business Cycle funds are suitable for investors:
1. Seeking exposure in a diversified set of stocks with a focus on riding business cycles for high returns
2. Aiming for long term wealth creation
3. With a 5+ year investment horizon
4. Who are at ease with the market’s ups and downs
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The Scheme seek to generate long term capital appreciation by investing predominantly in equity and equity related securities with a focus on identifying and investing in business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy.
Fund Manager:
1) Krishna Sanghavi
Education: Mr. Sanghvi is a B.Com (H), CWA from ICWAI, Master of Management Studies (Finance) from NMIMS, Mumbai and CFA from ICFAI.
Experience: Prior to joining Mahindra Manulife Investment Management Pvt. Ltd., he has worked with Canara Robeco AMC, Kotak Mahindra AMC Ltd. and Kotak Life Insurance, Aviva Life Insurance Company Ltd..
2) Renjith Sivaram Radhakrishnan
Education: Mr. Sivaram is an MBA in Finance and holds a Bachelor’s degree in Mechanical engineering
Experience: Prior to joining Mahindra Manulife Mutual Fund, he was associated with ICCI Securities, Antique Stock Broking, B&K Securities and Indian Seamless Steels and Alloys Ltd
3) Vishal Jajoo
Education: Mr. Jajoo is a Chartered Accountant, PGDM (Finance) and MBA (Investments)
Experience: Prior to joining Mahindra Manulife AMC, he has worked with ITI Mutual Fund and Tata Investment Corporation Ltd
Investment Details
| Min. Investment (Rs) | 1,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | — |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 3 months |
Basic Details of Mahindra Manulife Business Cycle Fund
| Fund House | Mahindra Manulife Mutual Fund |
| Launch Date | 11-Sep-23 |
| Return Since Launch | 19.55% |
| Benchmark | NIFTY 500 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 1,177 Cr |
| (As on 31-Mar-2026) | |
| Expense | 0.55% |
| (As on 31-Mar-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 88.00% |
Mahindra Manulife Business Cycle Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Mahindra Manulife Business Cycle Dir | -0.40 | -0.77 | 9.69 | 2.94 | 1.61 | 11.00 | — | — | — | — |
| BSE 500 TRI | -3.71 | -0.23 | 7.76 | -0.11 | -3.15 | 4.81 | — | — | — | — |
| Equity: Thematic-Business Cycle | -2.25 | -0.62 | 11.97 | 3.17 | -2.94 | 5.14 | — | — | — | — |
| Rank within category | 6 | 14 | 17 | 9 | 1 | 2 | — | — | — | — |
| Number of funds in category | 18 | 19 | 19 | 18 | 18 | 18 | 8 | 2 | 1 | 1 |
Peer Comparison of Mahindra Manulife Business Cycle 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 (%) | |
| Mahindra Manulife Business Cycle Dir | Unrated | 11.00 | — | — | 0.55 | 1,177 | 19.55 | 1.00 (90) | 2Y 7M | 88.00 |
| ICICI Pru Business Cycle Dir | Unrated | 7.57 | 22.56 | 20.28 | 0.75 | 14,359 | 20.04 | 1.00 (30) | 5Y 3M | 32.00 |
| Kotak Business Cycle Dir | Unrated | 7.98 | 19.73 | — | 0.63 | 2,741 | 16.01 | 0.50 (90) | 3Y 6M | 23.10 |
| Tata Business Cycle Dir | Unrated | 2.90 | 19.37 | — | 0.59 | 2,366 | 15.71 | 0.50 (30) | 4Y 8M | 56.21 |
| HDFC Business Cycle Dir | Unrated | 3.47 | 14.37 | — | 1.10 | 2,334 | 12.27 | 1.00 (365) | 3Y 4M | 59.31 |
Mahindra Manulife Business Cycle Fund Portfolio
| No. of Stocks | 64 |
| Top 10 Stocks | 30.28% |
| Top 5 Stocks | 18.52% |
| Top 3 Sectors | 51.80% |
| Portfolio P/B Ratio | 2.36 |
| Portfolio P/E Ratio | 20.82 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 96,666 | 1,17,708 |
| Giant (%) | — | — |
| Large (%) | 48.90 | 53.03 |
| Mid (%) | 25.64 | 25.08 |
| Small (%) | 25.45 | 21.89 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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