Mahindra Manulife Mid Cap Fund

March 28, 2026 RA Jainee Leave a reply

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Mahindra Manulife Mid Cap Fund

⚖️ Sahifund Review – Mahindra Manulife Mid Cap Fund ✔

PLUS: Stability, track record, cost efficiency
Mahindra Manulife Mid Cap Fund has quietly emerged as a strong mid-cap performer, delivering an impressive 24.34% CAGR over 3 years and 20.20% CAGR over 5 years, comfortably ahead of both benchmark and category averages. The fund has shown healthy long-term consistency, especially across 3-year, 5-year and 7-year periods, which is a strong sign in the volatile mid-cap category. Its expense ratio of just 0.58% is a major positive and makes it one of the more cost-efficient actively managed options in the segment. With a well-diversified portfolio of 59 stocks and relatively low top-10 concentration, the fund avoids excessive single-stock dependence. The portfolio remains largely true to category with strong mid-cap orientation, making it highly relevant for investors seeking genuine mid-cap exposure. It is also suitable for disciplined SIP investors looking for long-term wealth creation rather than short-term trading gains.

MINUS: Large AUM, large-cap bias, momentum lag
Despite strong medium-term returns, the fund’s 1-year performance of 12.24% is decent but not category-leading, which may disappoint momentum-focused investors. Compared with top peers like Nippon India Growth Mid Cap and Edelweiss Mid Cap, it still trails slightly on recent return leadership. The fund’s turnover ratio of 64% suggests moderate-to-high portfolio churn, which may increase execution risk over time. Though diversified, the broad stock spread can occasionally dilute high-conviction alpha during sharp mid-cap rallies. As with all mid-cap funds, investors must be ready for high volatility and deep drawdowns during market corrections. Also, with rising AUM, maintaining the same agility in stock selection and execution may become more challenging going forward.

Sahifund View (Decisive Line):
A high-quality low-cost mid-cap fund with strong long-term merit, best suited for patient SIP investors with a 7+ year horizon rather than short-term return chasers.

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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? 
Mid-cap funds are suitable for investors: 
1. Seeking exposure in mid-cap stocks for high returns 
2. Aiming for long-term wealth creation 
3. With a 7+ year investment horizon 
4. Who can withstand interim sharp declines in investment value 
Note: 
• Invest only through SIP. 

Fund’s Investment Strategy: 
The scheme seeks to generate long term capital appreciation & provide long-term growth opportunities by investing in a portfolio constituted of equity & equity related securities and derivatives predominantly in mid cap companies.

Fund Manager: 

1) 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. 
2) 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.. 
3) Neelesh Dhamnaskar 
Education: Mr. Dhamnaskar is a B.Com (H)and MMS (Finance). 
Experience: Prior to joining Mahindra Manulife Mutual Fund, he has worked with Invesco MF, ENAM Securities Direct Pvt. Ltd. and KR Choksey Shares and Securities Pvt. Ltd. He has also worked with Anand Rathi Ltd., as Commodity Research Analyst.