Selection of the next potential winners through the GCMV process#
	High conviction focused portfolio with strong risk management processes
	Potential to generate relatively better risk adjusted returns

# GCMV is an internal process framework to optimize stock selection based on growth, cashflow, management and valuation

• A high conviction diversified portfolio of companies that could benefit from emerging opportunities in the domestic scenario.
  
  
• A flexi cap, multi sector approach of selecting around 30 stocks with potential medium to long term growth runway.
  

• After massive out performance of Banks we are reallocating some weight to utilities and telecom
  
  
• Key Overweight sector/Industries includes Banks, Materials, IT and Telecom sector vs the Scheme’s Benchmark
  
  
• Key Underweights sectors /Industries includes Finance, Healthcare and Oil &Gas vs the Scheme’s Benchmark
  
  
• Portfolio has added some weight to small caps where valuations have turned favorable and then are catalysts for out performance
  

Data as on December 31, 2022

Sector	MMFEY	NIFTY 500 Index TRI
Financial Services	29.97%	31.41%
Information Technology	14.00%	10.86%
Fast Moving Consumer Goods	9.07%	7.99%
Oil Gas & Consumable Fuels	6.53%	10.42%
Automobile And Auto Components	5.97%	5.45%

Data as on December 30, 2022

Security	% to Net Assets
HDFC Bank Limited	9.40%
Infosys Limited	8.88%
ICICI Bank Limited	6.83%
Reliance Industries Limited	6.53%
Bharti Airtel Limited	4.78%
Larsen & Toubro Limited	4.70%
State Bank of India	4.63%
Kotak Mahindra Bank Limited	4.16%
NTPC Limited	3.64%
Grasim Industries Limited	3.56%
Top 10 Holdings	57.10%

Fresh Additions	Complete Exits
Security	Security
Adani Ports and Special Economic Zone Limited	Bank of Baroda
Triveni Engineering & Industries Limited

Note: The companies/stock(s) referred above are only for the purpose of disclosure of significant portfolio changes during the month and should not be construed as recommendation to buy/sell/ hold. The fund manager may or may not choose to hold these companies/stocks, from time to time. Investors are requested to consult their financial, tax and other advisors before taking any investment decision(s). Data as on December 31, 2022

Turnover Ratio (Last 1 year)

0.82

Record Date	Plan(s) / Option(s)	IDCW	Face Value	Cum-IDCW NAV
		(Rs. per unit)	(Rs. per unit)	(Rs. per unit)
26-Feb-21	Regular IDCW	0.5000	10	11.8145
26-Feb-21	Direct IDCW	0.5000	10	11.8827
17-Sep-21	Regular IDCW	0.5000	10	14.3445
17-Sep-21	Direct IDCW	0.5000	10	14.5929
17-Mar-22	Regular IDCW	0.8000	10	13.3891
17-Mar-22	Direct IDCW	0.8000	10	13.7911

Pursuant to payment of IDCW, the NAV of the IDCW Option(s) of the Scheme/Plan(s) falls to the extent of payout and statutory levy, if any. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. For complete list of IDCWs, visit www.mahindramanulife.com. IDCW: Income Distribution cum Capital Withdrawal

Investment Objective:
The investment objective of the scheme is to generate long term capital appreciation by investing in a concentrated portfolio of equity & equity related instruments of maximum 30 companies across market capitalisation. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Fund Manager:

Mr Krishna Sanghavi
Total Experience : 27 years
Experience in managing this fund: 2 years and 1 month (Managing since November 17, 2020)

Ms. Fatema Pacha
Total Experience : 17 years,
Experience in managing this fund: 2 years (Managing since December 21, 2020)

Date of allotment: November 17, 2020

Benchmark: NIFTY 500 Index TRI

Option: IDCW (IDCW Option will have IDCW Reinvestment (D) & IDCW Payout facility) and Growth (D)
D-Default

Minimum Application Amount: Rs. 1,000 and in multiples of Re. 1/- thereafter

Minimum Redemption/Switch-Out Amount: Rs. 1,000/- or 100 units or account balance, whichever is lower

Minimum Weekly & Monthly SIP Amount: Rs 500 and in multiples of Re. 1/- thereafter

Minimum Weekly & Monthly SIP Installments: 6

Minimum Quarterly SIP Amount: Rs 1,500 and in multiples of Re. 1/- thereafter

Minimum Quarterly SIP installments: 4

Monthly AAUM as on December 31, 2022 (Rs. in Cr.): 644.21

Quarterly AAUM as on December 31, 2022 (Rs. in Cr.): 632.65

Monthly AUM as on December 31, 2022 (Rs. In Cr.): 640.87

Entry Load: Not applicable

Exit Load: • An Exit Load of 1% is payable if Units are redeemed / switched-out upto 1 year from the date of allotment;
• Nil if Units are redeemed / switched-out after 1 year from the date of allotment.

^Benchmark ^^Additional Benchmark. Inception/Allotment date: 17-Nov-20.
Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Since inception returns of the scheme is calculated on face value of Rs. 10 invested at inception. The performance details provided above are of Growth Option under Regular Plan. Different Plans i.e Regular Plan and Direct Plan under the scheme has different expense structure. *Based on standard investment of Rs. 10,000 made at the beginning of the relevant period. Ms. Fatema Pacha is managing this scheme since December 21, 2020

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 17-Nov-20.
Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. Returns greater than 1 year period are compounded annualized. For SIP returns, monthly investment of equal amounts invested on the 1st business day of every month has been considered. CAGR Returns (%) are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return).

^Benchmark CAGR – Compounded Annual Growth Rate. ^$Dedicated Fund Manager for Overseas Investments
Past performance may or may not be sustained in future and should not be used as a basis of comparison with other investments. The performance details provided above are of Growth Option under Regular Plan Different Plans i.e Regular Plan and Direct Plan under the scheme has different expense structure. Mr. Krishna Sanghavi manages 1 scheme and Ms. Fatema Pacha manages 9 schemes of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided.
Performance as on December 30, 2022