December 24, 2025
RA Jainee
Mahindra Manulife Innovation Opportunities Fund Direct-Growth
Mahindra Manulife Innovation Opportunities Fund Direct-Growth snapshot
| NFO opens on | 09 January 2026 |
| NFO Closes on | 23 January 2026 |
| Min. Investment | Rs. 1000 |
| Plans | Growth, IDCW |
| Sahifund Verdict | Mahindra Manulife Innovation Opportunities Fund is a thematic equity fund focusing on companies driven by innovation-led business models. The fund offers flexible exposure across sectors within the broad NIFTY 500 universe. However, “innovation” as a theme is subjective and cyclical, making returns less predictable. Suitable only for investors with very high risk appetite and long-term horizon. |
⏱️ Last Update: 25 December 2025, 10.00 AM
Table of Contents:
1. NFO Open date, Close date
2. NFO Investment Strategy
3. Basic Details NFO
4. Benchmark Index NFO
5. Fund Manager | Performance Review of Fund Manager
6. Should You Invest in this NFO?
7. Invest Online
What is the Mahindra Manulife Innovation Opportunities Fund Direct-Growth Open Date, Close Date?
NFO opens on January 09, 2026
NFO will close on January 23, 2026
Investment Strategy for this NFO?
The Scheme shall seek to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies following innovation theme.
Basic Details
| Fund House | Mahindra Manulife Mutual Fund |
| Issue Open | 09 January 2026 |
| Issue Close | 23 January 2026 |
| Type | Open-ended |
| Category | Equity: Thematic-Innovation |
| Min. Investment(₹) | 1,000 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 0.5% for redemption within 3 months |
| Riskometer | Very High |
| Benchmark | NIFTY 500 TRI |
About Benchmark Index for this NFO?
The Nifty 500 index represents top 500 companies selected based on full market capitalization from the eligible universe.
Nifty 500 Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to particular base period. Nifty 500 can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variants: Nifty 500 Total Returns Index, Nifty500 Industry Indices.
Portfolio Characteristics
| Methodology | Free Float Market Capitalization |
| No. of Constituents | 501 |
| Launch Date | |
| Base Date | January 01, 1995 |
| Base Value | 1000 |
| Calculation Frequency | Real-Time |
| Index Rebalancing | Semi-Annually |
Fund Managers of Mahindra Manulife Innovation Opportunities Fund Direct-Growth
1) 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
2) Kirti Dalvi
Education: MMS (Finance), CFA level 2
Experience: Prior to Joining the Mahindra Manulife AMC he has worked with ENAM AMC, Angel Broking Ltd.
AMC
Mahindra Manulife Investment Management Private Limited
Address: 1st Floor – Sadhana House, 570 – P.B. Marg, Worli, Mumbai – 400018
Website: http://www.mahindramanulife.com
Registrar & Transfer Agent
Computer Age Management Services Ltd.
Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai – 600002
Website: www.camsonline.com
Review for Mahindra Manulife Innovation Opportunities Fund Direct-Growth @ sahifund.com by Paresh Gordhandas, C.A. & Research Analyst
[ A ] Benchmark Performance of NIFTY 500 TRI
Performance
| Index Returns (%)# | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 5.27 | 6.96 | 5.49 | 17.43 | 10.81 |
| Total Return | 5.41 | 8.04 | 6.56 | 18.63 | 12.50 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 13.40 | 14.42 | 22.07 |
| Beta (NIFTY 50) | 1.05 | 0.99 | 0.94 |
| Correlation (NIFTY 50) | 0.95 | 0.97 | 0.95 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 24.45 | 3.71 | 1.15 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| HDFC Bank Ltd. | 7.66 |
| Reliance Industries Ltd. | 5.28 |
| ICICI Bank Ltd. | 4.94 |
| Bharti Airtel Ltd. | 2.85 |
| Infosys Ltd. | 2.80 |
| Larsen & Toubro Ltd. | 2.38 |
| State Bank of India | 2.02 |
| ITC Ltd. | 1.94 |
| Axis Bank Ltd. | 1.83 |
| Mahindra & Mahindra Ltd. | 1.66 |
Past Performance of Renjith Sivaram Radhakrishnan
| Fund | Mahindra Manulife Equity Savings Fund | It’s Benchmark | Mahindra Manulife Business Cycle Fund | It’s Benchmark |
| 1 Year | 7.17 | 8.58 | 6.38 | 7.59 |
| 3 Year | 10.66 | 11.67 | — | — |
| 5 Year | 9.92 | 10.65 | — | — |
| 7 Year | 10.10 | 10.34 | — | — |
| 10 Year | — | — | — | — |
As on 24-12-2025
Past Performance of Kirti Dalvi
| Fund | Mahindra Manulife Aggressive Hybrid Fund | It’s Benchmark | Mahindra Manulife Large Cap Fund | It’s Benchmark |
| 1 Year | 8.12 | 7.65 | 8.94 | 10.24 |
| 3 Year | 17.52 | 15.69 | 15.37 | 16.33 |
| 5 Year | 17.25 | 15.07 | 15.21 | 16.30 |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 24-12-2025
[B] Review of Fund Managers
Renjith Sivaram Radhakrishnan
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Background: Mr. Sivaram is an MBA in Finance and holds a Bachelor’s degree in Mechanical engineering, 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
Kirti Dalvi
-
Background: MMS (Finance), CFA level 2, Prior to Joining the Mahindra Manulife AMC he has worked with ENAM AMC, Angel Broking Ltd.
Sahifund Verdict:
Mahindra Manulife Innovation Opportunities Fund is an open-ended thematic fund that seeks long-term capital appreciation by investing in equity and equity-related securities of companies following an innovation-oriented theme. The scheme is benchmarked against the NIFTY 500 TRI, giving the fund manager wide flexibility across large, mid and select small-cap stocks.
The benchmark has delivered ~18% CAGR over five years, but innovation-focused portfolios can witness higher volatility during market corrections.
Top benchmark constituents include HDFC Bank, Reliance Industries, ICICI Bank, Bharti Airtel and Infosys, indicating diversified sector exposure rather than pure technology bets.
Valuations of the benchmark remain moderately elevated (P/E ~24x), which could cap short-term upside.
The fund is managed by Renjith Sivaram Radhakrishnan and Kirti Dalvi, both of whom have reasonable experience, though the innovation theme itself lacks a long track record.
Sahifund Verdict:
Best considered as a satellite allocation for aggressive investors, not as a core portfolio holding.
Peer Comparison (?)
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
Is it good to invest in Mahindra Manulife Innovation Opportunities Fund Direct-Growth NFO?
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