HealthyDirect · GrowthFit for a long SIP
Mahindra Manulife Equity Savings Fund
Mahindra Manulife Mutual FundHybrid Schemes - Equity Savings Fund9.7 years
The Scheme seeks to generate long term capital appreciation and also income through investments in equity and equity related instruments, arbitrage opportunities and investments in debt and money market instruments.
- NAV
- 25.3466
- 29 Oct 2026
- 1Y
- +2.3%
- Trailing CAGR
- AUM
- ₹519.23 Cr
- 30 Sept 2026
- Volatility
- Low
- 7.7% annualized
Buying brief
Should you add this fund?
Evidence on this desk, framed as a purchase checklist - not SEBI-registered advice.
As of 29 Oct 2026
Stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
In three lines
Fits if · The fund beat the category median in 61% of rolling 3-year windows.
Fits if · Risk-adjusted return sits above the documented risk-free proxy.
Buy checklist
History depth
Pass
9.7 years of path to read.
Engine status
Pass
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Expense ratio
Pass
1.28% TER (Direct). Lower cost compounds on long SIPs.
Drawdown vs peers
Pass
Peak-to-trough -20.5%. Ask whether you can hold through a similar fall.
Vs category
Pass
61% of rolling 3Y windows beat the category median, same plan and option.
Manager tenure
Watch
Kush Sonigara · 0.8 years on the scheme.
Exit load
n/a
No exit-load summary on file.
Tax / wrapper
Pass
Direct Growth, no ELSS lock flagged. Equity LTCG rules still apply after one year - not tax advice.
Portfolio concentration
Watch
Top 10 holdings ≈ 71.0% of the portfolio.
Evidence supports a shortlist - confirm with peers before you buy elsewhere.
Before you buy or SIP
Behaviour and wrappers - the usual India MF failure modes - not a buy instruction.
Drawdown rehearsal
This scheme’s worst fall on file is about 20%. Before you SIP, ask whether you would keep contributing through a similar drop - pausing on fear is the usual India MF failure mode.
SIP discipline
If you start a SIP here, diary a 90-day check and an annual review - don’t react to every NAV print.
NAV
Path not in current snapshots
n/a
Returns
Trailing CAGR and simulated monthly SIP XIRR from daily NAV. Category comparison uses the median of comparable share classes in the peer set.
Trailing CAGR
Point-to-point, calendar-day annualized
- 1Y+2.3%
- 3Y+9.2%
- 5Y+8.0%
- 10Yn/a
- SI+10.0%
SIP XIRR
Equal monthly instalments to latest NAV
- 1Y+2.7%
- 3Y+6.0%
- 5Y+8.3%
- 10Yn/a
- Since inception
- +10.0%
- Calendar-day CAGR
- Excess 1Y
- -0.0%
- Category median, same plan and option
- 3Y win rate
- +61%
- Windows beating the median
- 3Y percentile
- 50
- Vs comparable share classes
- SIP 3Y XIRR
- +6.0%
- Simulated monthly SIP
- Worst rolling 3Y
- -0.2%
- 1658 daily-ending windows
- Median rolling 3Y
- +11.9%
- Calendar-day CAGR
- Positive rolling 5Y
- +100%
- 1164 daily-ending windows
Drawdown
Peak to trough from a running NAV high, with the path and recovery episodes.
- Max drawdown
- -20.5%
- Worst peak-to-trough
- Current
- -2.0%
- Below last peak
- Current spell
- 58 days
- Days below latest peak
- Time below peak
- +80%
- NAV observations
Drawdown
Path not in current snapshots
n/a
- Average recovery
- 8 days
- 183 recovered episodes
- Longest recovery
- 144 days
- Trough to prior peak
20 Feb 2020 – 11 Aug 2020
Trough 23 Mar 2020 · recovered in 141 days
-20.5%
17 Jan 2022 – 8 Sept 2022
Trough 20 Jun 2022 · recovered in 80 days
-7.8%
23 Jan 2018 – 19 Mar 2019
Trough 26 Oct 2018 · recovered in 144 days
-7.4%
11 Feb 2026 – 18 Jun 2026
Trough 30 Mar 2026 · recovered in 80 days
-4.6%
Dimensions
0–100 reads of named metrics. The mean is unweighted and only uses dimensions with data.
Returns
50
Vs category
50
Consistency
59
Risk-adjusted
52
Drawdown
49
Mean
52
Decision
Quantitative engine reasons behind the buying stance. An explanation can only restate what is already here.
Healthy
Buying stance
Fit for a long SIP
Evidence supports keeping this on a shortlist for a multi-year equity SIP.
Why this status
- No material deterioration, cost shock, or persistent category underperformance in the current evidence set.
Supporting reads
- The fund beat the category median in 61% of rolling 3-year windows.
- Risk-adjusted return sits above the documented risk-free proxy.
Portfolio
30 Sept 2026 · 91 holdings · top 10 are 71.0%.
- Top 5
- 54.9%
- Top 10
- 71.0%
- Largest holding
- 32.8%
- Effective holdings
- 7.6
Net Receivables
Unspecified
32.8%
HDFC Bank Ltd
Financial
6.0%
ICICI Bank Ltd
Financial
5.9%
Reliance Industries Ltd
Energy & Utilities
5.4%
Bajaj Finance Ltd
Financial
4.8%
What changed
DECISION
Status moved from MONITOR to HEALTHY.
15 Sept 2026
Worth investigating
Same-category peers with enough history to inspect beside this fund - including tradeoffs.
Mirae Asset Equity Savings Fund
Mirae Asset Mutual Fund
- 1Y
- +2.5%
- 3Y
- +10.0%
- Vol
- 7.3%
- Max DD
- -18.2%
- Sharpe
- 0.69
- 3Y win
- +98%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
- Higher trailing returns
HSBC Equity Savings Fund
HSBC Mutual Fund
- 1Y
- +6.0%
- 3Y
- +12.8%
- Vol
- 6.6%
- Max DD
- -11.5%
- Sharpe
- 0.99
- 3Y win
- +100%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Higher trailing returns
Caveat: Higher TER
UTI - Equity Savings Fund
UTI Mutual Fund
- 1Y
- +0.1%
- 3Y
- +8.1%
- Vol
- 5.8%
- Max DD
- -13.8%
- Sharpe
- 0.51
- 3Y win
- +64%
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
- Lower TER
Caveat: Lower trailing returns
WhiteOak Capital Equity Savings Fund
WhiteOak Capital Mutual Fund
- 1Y
- +3.9%
- 3Y
- n/a
- Vol
- 3.8%
- Max DD
- -3.8%
- Sharpe
- 1.03
- 3Y win
- n/a
- Lower volatility
- Shallower drawdown
- Higher win rate vs category
Caveat: Higher TER · Lower trailing returns
Axis Equity Savings Fund
Axis Mutual Fund
- 1Y
- +2.3%
- 3Y
- +9.4%
- Vol
- 6.8%
- Max DD
- -17.6%
- Sharpe
- 0.45
- 3Y win
- +21%
- Lower volatility
- Shallower drawdown
- Higher trailing returns
Caveat: Higher TER