Mahindra Manulife Ultra Short Duration Fund Direct Growth

Fund Overview

Fund Size

₹259 Cr

Expense Ratio

0.28%

ISIN

INF174V01887

Minimum SIP

₹1,000

Exit Load

No Charges

Inception Date

18 Oct 2019

About this fund

Mahindra Manulife Ultra Short Duration Fund Direct Growth is a Ultra Short Duration mutual fund schemes offered by Kotak Mahindra Mutual Fund. This fund has been in existence for 5 years, 10 months and 15 days, having been launched on 18-Oct-19.
As of 01-Sep-25, it has a Net Asset Value (NAV) of ₹1425.42, Assets Under Management (AUM) of 258.65 Crores, and an expense ratio of 0.28%.

Mahindra Manulife Ultra Short Duration Fund Direct Growth has given a CAGR return of 6.21% since inception.
The fund's asset allocation comprises around 0.00% in equities, 58.47% in debts, and 41.28% in cash & cash equivalents.
You can start investing in Mahindra Manulife Ultra Short Duration Fund Direct Growth with a SIP of ₹1000 or a Lumpsum investment of ₹1000.

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

+7.75%

+7.05% (Cat Avg.)

3 Years

+7.44%

+6.76% (Cat Avg.)

5 Years

+6.04%

+5.58% (Cat Avg.)

Since Inception

+6.21%

— (Cat Avg.)

Portfolio Summaryas of 15th August 2025

Debt	₹151.23 Cr	58.47%
Others	₹107.42 Cr	41.53%

Top Holdings

All Holdings

Equity

Debt & Others

Name	Type	Amount	Holdings
Bank Of Baroda 2026 ** #	Cash	₹24.3 Cr	9.39%
Indian Railway Finance Corporation Limited	Bond - Corporate Bond	₹18.12 Cr	7.01%
Godrej Properties Limited	Bond - Corporate Bond	₹10.1 Cr	3.90%
ICICI Home Finance Company Limited	Bond - Corporate Bond	₹10.08 Cr	3.90%
Shriram Finance Limited	Bond - Corporate Bond	₹10.06 Cr	3.89%
Power Finance Corporation Limited	Bond - Corporate Bond	₹10.06 Cr	3.89%
Power Finance Corporation Limited	Bond - Corporate Bond	₹10.06 Cr	3.89%
Nexus Select TRust	Bond - Corporate Bond	₹10.05 Cr	3.89%
Small Industries Development Bank Of India	Bond - Corporate Bond	₹10.03 Cr	3.88%
Rec Limited	Bond - Corporate Bond	₹9.98 Cr	3.86%
JM Financial Services Limited	Cash - Commercial Paper	₹9.88 Cr	3.82%
Punjab National Bank	Cash - CD/Time Deposit	₹9.82 Cr	3.80%
Axis Bank Limited	Cash - CD/Time Deposit	₹9.8 Cr	3.79%
Kotak Mahindra Bank Limited (Formerly Kotak Mahindra Finance Limited)	Cash - CD/Time Deposit	₹9.76 Cr	3.78%
Reverse Repo	Cash - Repurchase Agreement	₹9.34 Cr	3.61%
Net Receivables / (Payables)	Cash	₹5.56 Cr	2.15%
Embassy Office Parks Reit	Bond - Corporate Bond	₹5.11 Cr	1.98%
Godrej Industries Limited	Bond - Corporate Bond	₹5.07 Cr	1.96%
Tata Capital Housing Finance Limited	Bond - Corporate Bond	₹5.06 Cr	1.96%
Shriram Finance Limited	Bond - Corporate Bond	₹5.05 Cr	1.95%
08.15 Tn SDL 2025	Bond - Gov't/Treasury	₹5.03 Cr	1.94%
360 One Prime Limited	Bond - Corporate Bond	₹5.02 Cr	1.94%
National Bank For Agriculture And Rural Development	Bond - Corporate Bond	₹5.02 Cr	1.94%
Rec Limited	Bond - Corporate Bond	₹5.02 Cr	1.94%
Cholamandalam Investment And Finance Company Limited	Bond - Corporate Bond	₹5.02 Cr	1.94%
Muthoot Finance Limited	Bond - Corporate Bond	₹5.01 Cr	1.94%
Muthoot Finance Limited	Bond - Corporate Bond	₹5 Cr	1.93%
364 DTB 04122025	Bond - Gov't/Treasury	₹4.92 Cr	1.90%
364 DTB 11122025	Bond - Gov't/Treasury	₹4.91 Cr	1.90%
HDFC Bank Limited	Cash - CD/Time Deposit	₹4.9 Cr	1.89%
Cholamandalam Inv & Fi Cp Red 22-05-2026**	Cash - Commercial Paper	₹4.75 Cr	1.84%
Triparty Repo	Cash - Repurchase Agreement	₹3.61 Cr	1.39%
Bajaj Housing Finance Limited	Bond - Corporate Bond	₹2.52 Cr	0.97%
Corporate Debt Market Development Fund Class A2	Mutual Fund - Open End	₹0.65 Cr	0.25%

Allocation By Credit Quality (Debt)

AAA

Other Allocation

Equity Sector

Debt & Others

Instruments	Amount	Holdings
Bond - Corporate Bond	₹151.41 Cr	58.54%
Cash - CD/Time Deposit	₹34.29 Cr	13.26%
Cash	₹29.86 Cr	11.54%
Bond - Gov't/Treasury	₹14.86 Cr	5.75%
Cash - Commercial Paper	₹14.63 Cr	5.66%
Cash - Repurchase Agreement	₹12.95 Cr	5.01%
Mutual Fund - Open End	₹0.65 Cr	0.25%

Risk & Performance Ratios

Fund Managers

Rahul Pal

Since October 2019

Amit Garg

Since June 2020

Additional Scheme Detailsas of 15th August 2025

ISIN

INF174V01887

Expense Ratio

0.28%

Exit Load

No Charges

Fund Size

₹259 Cr

Age

5 years 10 months

Lumpsum Minimum

₹1,000

Fund Status

Open Ended Investment Company

Benchmark

CRISIL Ultra Short Dura Debt A-I 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 Ultra Short Duration Funds

Fund name	Expense Ratio	Exit Load	Fund size	1Y
Franklin India Ultra Short Duration Fund Regular Growth Moderate Risk	0.7%	0.0%	₹297.17 Cr	7.4%
Franklin India Ultra Short Duration Fund Direct Growth Moderate Risk	0.3%	0.0%	₹297.17 Cr	7.9%
Invesco India Ultra Short Term Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹1198.92 Cr	7.8%
Motilal Oswal Ultra Short Term Fund Regular Growth Low to Moderate Risk	1.0%	0.0%	₹573.44 Cr	5.7%
Motilal Oswal Ultra Short Term Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹573.44 Cr	6.6%
ITI Ultra Short Duration Fund Regular Growth Low to Moderate Risk	0.9%	0.0%	₹176.30 Cr	6.6%
ITI Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹176.30 Cr	7.4%
Sundaram Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹2225.47 Cr	7.8%
Nippon India Ultra Short Duration Fund Direct Growth Moderate Risk	0.4%	0.0%	₹10856.49 Cr	8.0%
Kotak Savings Fund Direct Growth Low to Moderate Risk	0.4%	0.0%	₹15497.58 Cr	7.7%
Tata Ultra Short Term Fund Direct Growth Moderate Risk	0.3%	0.0%	₹4907.76 Cr	8.0%
Tata Ultra Short Term Fund Regular Growth Moderate Risk	1.1%	0.0%	₹4907.76 Cr	7.1%
ICICI Prudential Ultra Short Term Fund Regular Growth Moderate Risk	0.8%	0.0%	₹16956.38 Cr	7.5%
Nippon India Ultra Short Duration Fund Segregated Portfolio 1 Direct Growth Moderate Risk	0.4%	0.0%	-	195.1%
Nippon India Ultra Short Duration Fund Segregated Portfolio 1 Regular Growth Moderate Risk	1.2%	0.0%	-	195.1%
WhiteOak Capital Ultra Short Term Fund Regular Growth Low to Moderate Risk	1.0%	0.0%	₹556.39 Cr	6.9%
WhiteOak Capital Ultra Short Term Fund Direct Growth Low to Moderate Risk	0.5%	0.0%	₹556.39 Cr	7.5%
DSP Ultra Short Fund Regular Growth Low to Moderate Risk	1.0%	0.0%	₹3772.40 Cr	7.1%
Mirae Asset Ultra Short Duration Fund Regular Growth Low to Moderate Risk	0.4%	0.0%	₹1715.24 Cr	7.6%
Mirae Asset Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹1715.24 Cr	7.9%
UTI Ultra Short Term Fund Direct Growth Moderate Risk	0.4%	0.0%	₹4337.24 Cr	7.8%
Aditya Birla Sun Life Savings Fund Direct Growth Moderate Risk	0.3%	0.0%	₹21438.83 Cr	8.2%
Bank of India Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹212.08 Cr	7.4%
SBI Magnum Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹16182.05 Cr	7.6%
HSBC Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹2924.03 Cr	7.7%
HSBC Ultra Short Duration Fund Regular Growth Low to Moderate Risk	0.3%	0.0%	₹2924.03 Cr	7.4%
Bandhan Ultra Short Term Fund Regular Growth Low to Moderate Risk	0.5%	0.0%	₹4353.31 Cr	7.4%
Bandhan Ultra Short Term Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹4353.31 Cr	7.6%
ICICI Prudential Ultra Short Term Fund Direct Growth Moderate Risk	0.4%	0.0%	₹16956.38 Cr	7.9%
Canara Robeco Ultra Short Term Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹730.46 Cr	7.6%
DSP Ultra Short Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹3772.40 Cr	7.9%
PGIM India Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹202.36 Cr	7.6%
Axis Ultra Short Term Fund Regular Growth Moderate Risk	1.2%	0.0%	₹6752.81 Cr	7.0%
Axis Ultra Short Term Fund Direct Growth Moderate Risk	0.4%	0.0%	₹6752.81 Cr	7.9%
Sundaram Ultra Short Duration Fund Regular Growth Low to Moderate Risk	1.5%	0.0%	₹2225.47 Cr	6.4%
Aditya Birla Sun Life Savings Fund Regular Growth Moderate Risk	0.5%	0.0%	₹21438.83 Cr	8.0%
Kotak Savings Fund Regular Growth Low to Moderate Risk	0.8%	0.0%	₹15497.58 Cr	7.2%
Invesco India Ultra Short Term Fund Regular Growth Low to Moderate Risk	0.7%	0.0%	₹1198.92 Cr	7.4%
SBI Magnum Ultra Short Duration Fund Regular Growth Low to Moderate Risk	0.6%	0.0%	₹16182.05 Cr	7.4%
Bank of India Ultra Short Duration Fund Regular Growth Low to Moderate Risk	0.8%	0.0%	₹212.08 Cr	6.9%
HDFC Ultra Short Term Fund Regular Growth Low to Moderate Risk	0.7%	0.0%	₹17328.44 Cr	7.4%
HDFC Ultra Short Term Fund Direct Growth Low to Moderate Risk	0.4%	0.0%	₹17328.44 Cr	7.8%
Mahindra Manulife Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹258.65 Cr	7.8%
Mahindra Manulife Ultra Short Duration Fund Regular Growth Low to Moderate Risk	0.7%	0.0%	₹258.65 Cr	7.3%
Nippon India Ultra Short Duration Fund Regular Growth Moderate Risk	1.1%	0.0%	₹10856.49 Cr	7.2%
UTI Ultra Short Term Fund Regular Growth Moderate Risk	0.9%	0.0%	₹4337.24 Cr	7.2%
LIC MF Ultra Short Duration Fund Regular Growth Low to Moderate Risk	0.9%	0.0%	₹220.83 Cr	6.9%
LIC MF Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹220.83 Cr	7.7%
Baroda BNP Paribas Ultra Short Duration Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹1495.49 Cr	7.7%
Baroda BNP Paribas Ultra Short Duration Fund Regular Growth Low to Moderate Risk	0.5%	0.0%	₹1495.49 Cr	7.5%

About the AMC

Kotak Mahindra Mutual Fund

+91 22 61152100

https://www.kotakmf.com/

Total AUM

₹5,79,182 Cr

Address

2nd Floor, 12-BKC, Plot No C-12, Mumbai, 400 051

Other Funds by Kotak Mahindra Mutual Fund

Fund name	Expense Ratio	Exit Load	Fund size	1Y
Kotak Nifty AAA Bond Financial Services Mar 2028 Index Fund Direct Growth Moderate Risk	0.1%	0.0%	₹404.32 Cr	-
Mahindra Manulife Banking & Financial Services Fund Direct Growth Very High Risk	0.5%	0.0%	₹286.55 Cr	-
Kotak Nifty 200 Quality 30 Index Fund Direct Growth Very High Risk	0.2%	0.0%	₹9.55 Cr	-
Kotak Nifty Top 10 Equal Weight Index Fund Direct Growth Very High Risk	0.2%	0.0%	₹17.82 Cr	-
Kotak Energy Opportunities Fund Direct Growth Very High Risk	0.9%	1.0%	₹200.78 Cr	-
Kotak Nifty Midcap 150 Index Fund Regular Growth Very High Risk	0.3%	0.0%	₹8.01 Cr	-
Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct Growth Low to Moderate Risk	0.1%	0.0%	₹481.96 Cr	-
Kotak FMP Series 327 Direct Growth Moderately High risk	-	0.0%	₹206.03 Cr	-
Kotak FMP Series 326 - 175 Days Direct Growth Moderate Risk	-	-	-	-
Kotak FMP Series 325 - 90 Days Direct Growth Moderate Risk	-	0.0%	-	-
Kotak FMP Series 324 - 109 Days Direct Growth Moderately High risk	-	0.0%	-	-
Kotak Healthcare Fund Direct Growth Very High Risk	0.8%	0.0%	₹485.27 Cr	0.9%
Kotak FMP Series 323 Direct Growth Low Risk	-	0.0%	-	-
Kotak Consumption Fund Direct Growth Very High Risk	0.6%	0.0%	₹1373.36 Cr	3.8%
Kotak Nifty G-Sec July 2033 Index Fund Direct Growth Moderate Risk	0.1%	0.0%	₹22.08 Cr	8.1%
Kotak Multi Asset Allocation Fund Direct Growth High Risk	0.4%	1.0%	₹8198.91 Cr	5.1%
Kotak S&P BSE Housing Index Fund Direct Growth Very High Risk	0.2%	0.0%	₹17.59 Cr	-3.4%
Kotak Fixed Maturity Plan 1174 Days Series 268 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 308 - 1125 Days Direct Growth Moderately High risk	-	0.0%	₹94.00 Cr	8.8%
Kotak Yearly Interval Plan Series 1 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak Fixed Maturity Plan 1355 Days Series 286 Direct Growth Low to Moderate Risk	-	-	-	-
Kotak FMP Series 304 Direct Growth Moderate Risk	-	-	₹109.38 Cr	8.2%
Kotak Fixed Maturity Plan Series 262 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 291 - 1826 Days Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak Fixed Maturity Plan Series 264 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 310 - 1131 Days Direct Growth Low to Moderate Risk	-	0.0%	₹125.59 Cr	7.6%
Kotak FMP Series 306 Direct Growth Moderate Risk	-	0.0%	-	-
Kotak Quarterly Interval Series 12 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak Fixed Maturity Plan Series 249 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 295 Direct Growth Moderate Risk	-	0.0%	-	-
Kotak Fixed Maturity Plan Series 258 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 298 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 290 - 1180 Days Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak Monthly Interval Series 4 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 293 - 1826 Days Direct Growth Moderate Risk	-	0.0%	-	-
Kotak India Growth Fund Series IV Direct Growth Very High Risk	0.3%	0.0%	₹132.94 Cr	50.2%
Kotak Fixed Maturity Plan Series 260 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 287 - 1188 days Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak Fixed Maturity Plan Series 272 Direct Growth Low to Moderate Risk	-	-	-	-
Kotak Fixed Maturity Plan Series 273 Direct Growth Low to Moderate Risk	-	-	-	-
Kotak FMP Series 305 Direct Growth Low to Moderate Risk	-	0.0%	₹33.56 Cr	7.4%
Kotak FMP Series 300 - 1223 days Direct Growth Low to Moderate Risk	-	0.0%	₹241.41 Cr	7.6%
Kotak Quarterly Interval Series 13 Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 292 - 1735 Days Direct Growth Low to Moderate Risk	-	0.0%	₹466.25 Cr	7.7%
Kotak FMP Series 289 -1179 days Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak FMP Series 288 -1177 days Direct Growth Low to Moderate Risk	-	0.0%	-	-
Kotak Small Cap Fund Direct Growth Very High Risk	0.5%	1.0%	₹17902.58 Cr	-6.4%
Kotak Flexicap Fund Direct Growth Very High Risk	0.6%	1.0%	₹53293.04 Cr	1.1%
Kotak Equity Opportunities Fund Direct Growth Very High Risk	0.5%	1.0%	₹28084.13 Cr	-1.0%
Kotak Taxsaver Fund Direct Growth Very High Risk	0.6%	0.0%	₹6354.72 Cr	-3.3%

Risk Level

Your principal amount will be at Low to Moderate Risk

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Still got questions?
We're here to help.

What is the current NAV of Mahindra Manulife Ultra Short Duration Fund Direct Growth?

The NAV of Mahindra Manulife Ultra Short Duration Fund Direct Growth, as of 01-Sep-2025, is ₹1425.42.

What are the returns of Mahindra Manulife Ultra Short Duration Fund Direct Growth?

The fund has generated 7.75% over the last 1 year and 7.44% 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 Ultra Short Duration Fund Direct Growth?

The fund's allocation of assets is distributed as 0.00% in equities, 58.47% in bonds, and 41.28% in cash and cash equivalents.

Who manages the Mahindra Manulife Ultra Short Duration Fund Direct Growth?

The fund managers responsible for Mahindra Manulife Ultra Short Duration Fund Direct Growth are:-

Rahul Pal
Amit Garg

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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Fund Overview

Fund Size

₹259 Cr

Expense Ratio

0.28%

ISIN

INF174V01887

Minimum SIP

₹1,000

Exit Load

No Charges

Inception Date

18 Oct 2019

Risk Level

Your principal amount will be at Low to Moderate Risk