Mahindra Manulife ELSS Fund Direct Growth

Fund Overview

Fund Size

₹829 Cr

Expense Ratio

1.10%

ISIN

INF174V01093

Minimum SIP

₹500

Exit Load

No Charges

Inception Date

18 Oct 2016

About this fund

Mahindra Manulife ELSS Fund Direct Growth is a ELSS (Tax Savings) mutual fund schemes offered by Mahindra Manulife Mutual Fund. This fund has been in existence for 10 years and 5 days, having been launched on 18-Oct-16.
As of 22-Oct-26, it has a Net Asset Value (NAV) of ₹30.63, Assets Under Management (AUM) of 829.03 Crores, and an expense ratio of 1.1%.

Mahindra Manulife ELSS Fund Direct Growth has given a CAGR return of 11.80% since inception.
The fund's asset allocation comprises around 94.66% in equities, 0.00% in debts, and 5.34% in cash & cash equivalents.
You can start investing in Mahindra Manulife ELSS Fund Direct Growth with a SIP of ₹500 or a Lumpsum investment of ₹500.

Performance against Category Average

In this section, we compare the returns of the scheme with the category average over various periods. Periods for which the fund has outperformed its category average are marked in green, otherwise red.

1 Year

-10.88%

— (Cat Avg.)

3 Years

+6.81%

+9.28% (Cat Avg.)

5 Years

+7.83%

+8.65% (Cat Avg.)

10 Years

+11.80%

+12.15% (Cat Avg.)

Since Inception

+11.80%

— (Cat Avg.)

Portfolio Summaryas of 30th September 2026

Equity	₹784.72 Cr	94.66%
Others	₹44.31 Cr	5.34%

Top Holdings

All Holdings

Equity

Debt & Others

Name	Type	Amount	Holdings
ICICI Bank Ltd	Equity	₹76.57 Cr	9.24%
HDFC Bank Ltd	Equity	₹60.03 Cr	7.24%
Triparty Repo	Cash - Repurchase Agreement	₹44.45 Cr	5.36%
Bharti Airtel Ltd	Equity	₹35.49 Cr	4.28%
Bajaj Finance Ltd	Equity	₹29.55 Cr	3.56%
Reliance Industries Ltd	Equity	₹25.82 Cr	3.11%
Larsen & Toubro Ltd	Equity	₹24.5 Cr	2.96%
Kotak Mahindra Bank Ltd	Equity	₹21.27 Cr	2.57%
TVS Motor Co Ltd	Equity	₹21.25 Cr	2.56%
Infosys Ltd	Equity	₹20.24 Cr	2.44%
Hindustan Unilever Ltd	Equity	₹19.17 Cr	2.31%
Axis Bank Ltd	Equity	₹19.13 Cr	2.31%
Eternal Ltd	Equity	₹18.4 Cr	2.22%
Maruti Suzuki India Ltd	Equity	₹17.83 Cr	2.15%
Avenue Supermarts Ltd	Equity	₹17.11 Cr	2.06%
UNO Minda Ltd	Equity	₹17.08 Cr	2.06%
Mankind Pharma Ltd	Equity	₹14.24 Cr	1.72%
Tech Mahindra Ltd	Equity	₹14.17 Cr	1.71%
Titan Co Ltd	Equity	₹13.39 Cr	1.62%
Sun Pharmaceuticals Industries Ltd	Equity	₹13.26 Cr	1.60%
Info Edge (India) Ltd	Equity	₹12.76 Cr	1.54%
Tata Power Co Ltd	Equity	₹12.64 Cr	1.52%
IndusInd Bank Ltd	Equity	₹11.89 Cr	1.43%
Neuland Laboratories Ltd	Equity	₹11.82 Cr	1.43%
InterGlobe Aviation Ltd	Equity	₹11.46 Cr	1.38%
Eicher Motors Ltd	Equity	₹10.73 Cr	1.29%
Dr Reddy's Laboratories Ltd	Equity	₹10.6 Cr	1.28%
Dr. Lal PathLabs Ltd	Equity	₹10.56 Cr	1.27%
Trent Ltd	Equity	₹10.49 Cr	1.26%
Shriram Finance Ltd	Equity	₹10.43 Cr	1.26%
LG Electronics India Ltd	Equity	₹9.93 Cr	1.20%
Godrej Properties Ltd	Equity	₹9.48 Cr	1.14%
Hindustan Aeronautics Ltd Ordinary Shares	Equity	₹9.34 Cr	1.13%
JK Cement Ltd	Equity	₹9.26 Cr	1.12%
LTM Ltd	Equity	₹9.2 Cr	1.11%
Tata Motors Passenger Vehicles Ltd	Equity	₹8.73 Cr	1.05%
Grindwell Norton Ltd	Equity	₹8.63 Cr	1.04%
Aarti Industries Ltd	Equity	₹8.56 Cr	1.03%
Nestle India Ltd	Equity	₹8.4 Cr	1.01%
GlaxoSmithKline Pharmaceuticals Ltd	Equity	₹8.33 Cr	1.01%
DOMS Industries Ltd	Equity	₹8.1 Cr	0.98%
Indus Towers Ltd Ordinary Shares	Equity	₹8.02 Cr	0.97%
Jubilant Ingrevia Ltd Ordinary Shares	Equity	₹8.01 Cr	0.97%
Marico Ltd	Equity	₹7.86 Cr	0.95%
Fortis Healthcare Ltd	Equity	₹7.81 Cr	0.94%
Elgi Equipments Ltd	Equity	₹7.73 Cr	0.93%
Crompton Greaves Consumer Electricals Ltd	Equity	₹7.53 Cr	0.91%
Bandhan Bank Ltd	Equity	₹7.51 Cr	0.91%
Voltas Ltd	Equity	₹7.38 Cr	0.89%
HDFC Life Insurance Co Ltd	Equity	₹7.3 Cr	0.88%
CG Power & Industrial Solutions Ltd	Equity	₹6.41 Cr	0.77%
Arvind Fashions Ltd	Equity	₹6.39 Cr	0.77%
Suzlon Energy Ltd	Equity	₹5.92 Cr	0.71%
L&T Finance Ltd	Equity	₹3.71 Cr	0.45%
Tata Capital Ltd	Equity	₹3.31 Cr	0.40%
Net Receivables / (Payables)	Cash	₹-0.38 Cr	0.05%
Margin Placed With Ccil & Arcl	Cash - Repurchase Agreement	₹0.24 Cr	0.03%

Allocation By Market Cap (Equity)

Allocation By Credit Quality (Debt)

AAA

Other Allocation

Equity Sector

Debt & Others

Sector	Amount	Holdings
Financial Services	₹250.69 Cr	30.24%
Consumer Cyclical	₹139.21 Cr	16.79%
Industrials	₹82.1 Cr	9.90%
Healthcare	₹76.62 Cr	9.24%
Communication Services	₹56.27 Cr	6.79%
Technology	₹53.54 Cr	6.46%
Consumer Defensive	₹52.54 Cr	6.34%
Basic Materials	₹25.83 Cr	3.12%
Energy	₹25.82 Cr	3.11%
Utilities	₹12.64 Cr	1.52%
Real Estate	₹9.48 Cr	1.14%

Risk & Performance Ratios

Fund Managers

Fatema Pacha

Since October 2020

Neelesh Dhamnaskar

Since February 2026

Additional Scheme Detailsas of 30th September 2026

ISIN

INF174V01093

Expense Ratio

1.10%

Exit Load

No Charges

Fund Size

₹829 Cr

Age

10 years

Lumpsum Minimum

₹500

Fund Status

Open Ended Investment Company

Benchmark

Nifty 500 TR INR

Investment Objective

To seek to generate long-term capital growth from an actively managed portfolio primarily of Equity and Equity Related Securities. Scheme shall invest in Indian equities,foreign equities and related instruments and debt securities.

Tax Treatment

Capital Gains Taxation:

Dividend Taxation:

Note: As per the Income Tax Budget 2024, mutual funds are subject to capital gains taxation, which includes surcharge and cess based on prevailing income tax rules and the investor’s income. Taxation applies only to realised gains, not notional gains. Please consult your tax advisors to determine the implications or consequences of your investments in such securities.

Similar ELSS (Tax Savings) Funds

Fund name	Expense Ratio	Exit Load	Fund size	1Y
Bajaj Finserv ELSS Tax Saver Fund Regular Growth Low Risk	3.0%	0.0%	₹88.14 Cr	-4.7%
Bajaj Finserv ELSS Tax Saver Fund Direct Growth Low Risk	1.3%	0.0%	₹88.14 Cr	-3.1%
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund Direct Growth Very High Risk	0.3%	0.0%	₹279.52 Cr	-6.3%
Sundaram Long Term Tax Advantage Fund Series I Regular Growth High Risk	1.4%	0.0%	₹19.18 Cr	8.0%
Bank of India Midcap Tax Fund Series 1 Direct Growth Very High Risk	-	0.0%	₹65.11 Cr	1.6%
SBI Long Term Advantage Fund Series II Regular Growth Very High Risk	-	0.0%	₹34.17 Cr	6.4%
SBI Long Term Advantage Fund Series II Direct Growth Very High Risk	-	0.0%	₹34.17 Cr	6.8%
Bank of India Midcap Tax Fund Series 1 Regular Growth Very High Risk	-	0.0%	₹65.11 Cr	1.3%
Sundaram Long Term Tax Advantage Fund Series I Direct Growth High Risk	1.4%	0.0%	₹19.18 Cr	8.1%
Sundaram Long Term Micro Cap Tax Advantage Fund Series V Regular Growth Very High Risk	1.2%	0.0%	₹31.62 Cr	-2.7%
Sundaram Long Term Micro Cap Tax Advantage Fund Series V Direct Growth Very High Risk	1.0%	0.0%	₹31.62 Cr	-2.5%
Sundaram Long Term Tax Advantage Fund Series II Direct Growth Very High Risk	1.2%	0.0%	₹13.10 Cr	5.9%
Sundaram Long Term Tax Advantage Fund Series II Regular Growth Very High Risk	1.4%	0.0%	₹13.10 Cr	5.6%
SBI Long Term Advantage Fund Series I Regular Growth Low Risk	-	0.0%	₹49.50 Cr	16.8%
SBI Long Term Advantage Fund Series I Direct Growth Low Risk	-	0.0%	₹49.50 Cr	17.1%
Sundaram Long Term Micro CapTax Advantage Fund Sries III Direct Growth Very High Risk	1.0%	0.0%	₹78.05 Cr	-2.9%
SBI Long Term Advantage Fund Series VI Regular Growth Very High Risk	-	0.0%	₹250.68 Cr	-6.1%
SBI Long Term Advantage Fund Series VI Direct Growth Very High Risk	-	0.0%	₹250.68 Cr	-5.9%
Sundaram Long Term Micro CapTax Advantage Fund Sries III Regular Growth Very High Risk	1.2%	0.0%	₹78.05 Cr	-3.1%
Sundaram Long Term Tax Advantage Fund Series III Direct Growth Very High Risk	1.0%	-	₹34.84 Cr	-1.7%
SBI Tax Advantage Fund Series III Direct Growth Very High Risk	-	0.0%	₹33.26 Cr	32.0%
SBI Tax Advantage Fund Series III Regular Growth Very High Risk	-	0.0%	₹33.26 Cr	31.5%
Sundaram Long Term Tax Advantage Fund Series III Regular Growth Very High Risk	1.2%	-	₹34.84 Cr	-1.9%
ICICI Prudential Long Term Wealth Enhancement Fund Regular Growth Very High Risk	1.2%	0.0%	₹37.52 Cr	-10.7%
ICICI Prudential Long Term Wealth Enhancement Fund Direct Growth Very High Risk	0.8%	0.0%	₹37.52 Cr	-10.4%
Sundaram Long Term Tax Advantage Fund Series IV Regular Growth Very High Risk	1.2%	0.0%	₹23.09 Cr	-2.7%
Sundaram Long Term Tax Advantage Fund Series IV Direct Growth Very High Risk	1.0%	0.0%	₹23.09 Cr	-2.5%
SBI Long Term Advantage Fund Series III Regular Growth Very High Risk	-	0.0%	₹66.00 Cr	-3.0%
SBI Long Term Advantage Fund Series III Direct Growth Very High Risk	-	0.0%	₹66.00 Cr	-2.6%
SBI Long Term Advantage Fund Series V Direct Growth Very High Risk	-	0.0%	₹353.31 Cr	-4.8%
SBI Long Term Advantage Fund Series V Regular Growth Very High Risk	-	0.0%	₹353.31 Cr	-5.0%
SBI Long Term Advantage Fund Series IV Regular Growth Very High Risk	-	0.0%	₹194.41 Cr	-10.1%
SBI Long Term Advantage Fund Series IV Direct Growth Very High Risk	-	0.0%	₹194.41 Cr	-9.8%
Sundaram Long Term Micro Cap Tax Advantage Fund Series IV Direct Growth Very High Risk	1.1%	0.0%	₹37.28 Cr	-3.4%
Sundaram Long Term Micro Cap Tax Advantage Fund Series IV Regular Growth Very High Risk	1.2%	0.0%	₹37.28 Cr	-3.6%
Invesco India Tax Plan Regular Growth Very High Risk	2.3%	0.0%	₹2597.52 Cr	-8.2%
HSBC ELSS Fund Direct Growth Very High Risk	1.2%	0.0%	₹3973.53 Cr	-3.1%
LIC MF ELSS Direct Growth Very High Risk	1.3%	0.0%	₹972.31 Cr	-10.5%
Kotak Taxsaver Fund Direct Growth Very High Risk	0.8%	0.0%	₹6070.55 Cr	-5.5%
Invesco India Tax Plan Direct Growth Very High Risk	1.2%	0.0%	₹2597.52 Cr	-7.2%
HSBC Tax Saver Equity Fund Regular Growth Very High Risk	2.5%	0.0%	₹243.60 Cr	4.0%
ICICI Prudential Long Term Equity Fund ( Tax Saving) Direct Growth Very High Risk	1.2%	0.0%	₹13498.47 Cr	-9.3%
Sundaram Tax Savings Fund Direct Growth Very High Risk	1.8%	0.0%	₹1212.49 Cr	-10.9%
Bandhan Tax Advantage (ELSS) Fund Direct Growth Very High Risk	0.9%	0.0%	₹6596.36 Cr	-4.6%
Nippon India Tax Saver (ELSS) Fund Direct Growth Very High Risk	0.1%	0.0%	₹14096.24 Cr	-5.9%
JM Tax Gain Fund Direct Growth Very High Risk	1.4%	0.0%	₹239.90 Cr	-0.7%
Samco ELSS Tax Saver Fund Direct Growth Very High Risk	2.1%	0.0%	₹103.85 Cr	-6.9%
Samco ELSS Tax Saver Fund Regular Growth Very High Risk	3.4%	0.0%	₹103.85 Cr	-8.1%
Mahindra Manulife ELSS Fund Regular Growth Very High Risk	2.5%	0.0%	₹829.03 Cr	-12.2%
Mahindra Manulife ELSS Fund Direct Growth Very High Risk	1.1%	0.0%	₹829.03 Cr	-10.9%

About the AMC

Mahindra Manulife Mutual Fund

022-66327900

https://www.mahindramanulife.com/

Total AUM

₹39,084 Cr

Address

570 P. B. Marg, Worli, Mumbai 400018, Mumbai, 400018

Other Funds by Mahindra Manulife Mutual Fund

Fund name	Expense Ratio	Exit Load	Fund size	1Y
Mahindra Manulife Innovation Opportunities Fund Direct Growth Very High Risk	0.9%	0.0%	₹256.96 Cr	-
Mahindra Manulife Income Plus Arbitrage Active FOF Direct Growth Moderate Risk	0.2%	0.0%	₹10.52 Cr	-
Mahindra Manulife Banking & Financial Services Fund Direct Growth Very High Risk	1.2%	0.0%	₹445.05 Cr	-2.0%
Mahindra Manulife Value Fund Direct Growth Very High Risk	1.0%	0.0%	₹1014.76 Cr	1.4%
Mahindra Manulife Manufacturing Fund Direct Growth Very High Risk	1.2%	0.0%	₹648.11 Cr	2.0%
Mahindra Manulife Multi Asset Allocation Fund Direct Growth Very High Risk	0.6%	0.0%	₹1214.04 Cr	3.5%
Mahindra Manulife Business Cycle Fund Direct Growth Very High Risk	0.9%	1.0%	₹1290.60 Cr	-3.1%
Mahindra Manulife Large Cap Fund Direct Growth Very High Risk	1.1%	1.0%	₹646.81 Cr	-10.0%
Mahindra Manulife Liquid Fund Direct Growth Moderate Risk	0.1%	0.0%	₹1041.44 Cr	6.5%
Mahindra Manulife Large & Mid Cap Fund Direct Growth Very High Risk	0.9%	1.0%	₹2753.02 Cr	-3.4%
Mahindra Manulife ELSS Fund Direct Growth Very High Risk	1.1%	0.0%	₹829.03 Cr	-10.9%
Mahindra Manulife Overnight Fund Direct Growth Low Risk	0.1%	0.0%	₹72.95 Cr	5.2%
Mahindra Manulife Small Cap Fund Direct Growth Very High Risk	1.0%	1.0%	₹5372.85 Cr	7.8%
Mahindra Manulife Flexi Cap Fund Direct Growth Very High Risk	1.0%	1.0%	₹1509.58 Cr	-9.4%
Mahindra Manulife Consumption Fund Direct Growth Very High Risk	1.1%	1.0%	₹452.65 Cr	-13.3%
Mahindra Manulife Focused Fund Direct Growth Very High Risk	0.8%	1.0%	₹1930.22 Cr	-7.8%
Mahindra Manulife Asia Pacific REITs FOF Direct Growth Very High Risk	0.5%	1.0%	₹39.58 Cr	0.3%
Mahindra Manulife Equity Savings Fund Direct Growth Moderately High risk	1.3%	1.0%	₹519.23 Cr	2.6%
Mahindra Manulife Multi Cap Fund Direct Growth Very High Risk	0.9%	1.0%	₹7457.36 Cr	3.3%
Mahindra Manulife Dynamic Bond Fund Direct Growth Moderately High risk	0.4%	0.0%	₹47.27 Cr	3.1%
Mahindra Manulife Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹205.23 Cr	6.4%
Mahindra Manulife Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹78.65 Cr	4.8%
Mahindra Manulife Mid Cap Fund Direct Growth Very High Risk	0.8%	1.0%	₹5058.42 Cr	-1.3%
Mahindra Manulife Arbitrage Fund Direct Growth Low Risk	1.2%	0.0%	₹137.56 Cr	6.1%
Mahindra Manulife Low Duration Fund Direct Growth Moderate Risk	0.3%	0.0%	₹497.00 Cr	5.9%
Mahindra Manulife Aggressive Hybrid Fund Direct Growth Very High Risk	0.9%	1.0%	₹2798.48 Cr	-8.4%
Mahindra Manulife Balanced Advantage Fund Direct Growth Very High Risk	0.8%	1.0%	₹878.76 Cr	-1.6%

Risk Level

Your principal amount will be at Very High Risk

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What is the current NAV of Mahindra Manulife ELSS Fund Direct Growth?

The NAV of Mahindra Manulife ELSS Fund Direct Growth, as of 22-Oct-2026, is ₹30.63.

What are the returns of Mahindra Manulife ELSS Fund Direct Growth?

The fund has generated -10.88% over the last 1 year and 6.81% over the last 3 years. However, this does not guarantee that the fund will perform similarly in the future.

What is the portfolio composition of Mahindra Manulife ELSS Fund Direct Growth?

The fund's allocation of assets is distributed as 94.66% in equities, 0.00% in bonds, and 5.34% in cash and cash equivalents.

Who manages the Mahindra Manulife ELSS Fund Direct Growth?

The fund managers responsible for Mahindra Manulife ELSS Fund Direct Growth are:-

Fatema Pacha
Neelesh Dhamnaskar

Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. The past performance of the mutual funds is not necessarily indicative of the future performance of the schemes. Investors are requested to review the prospectus carefully and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment/participation in the scheme.

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Mahindra Manulife ELSS Fund Direct Growth

Fund Overview