Mahindra Manulife
Low Duration Fund


An open ended low duration debt scheme investing in instruments such
that the Macaulay duration of the Portfolio is between6 months and 12 months
(please refer to page no. 33 of SID).
A relatively low interest rate risk and moderate credit risk.



One Pager December, 2022

1 Suitability: An alternative to savings/ current bank accounts to park short-term surplus money
2 Convenience: Zero load, zero lock-in means redemptions are always possible at no additional cost.
3 Transparency: Regular monthly factsheets highlight allocation of funds and performance of the scheme
  • Play accrual strategy

  • Limited duration play with tactical position

  • Invest in good quality debt and money market instruments
  • The average maturity is around 271 days

  • The YTM of the portfolio has decreased to 7.32%

  • With our view on Gsec possibly offering better opportunities than Bonds, we derive around 30% of our duration through Gsecs in this fund

  • We would remain skewed in this duration range as the RBI has started the hike cycle
Under normal circumstances the asset allocation pattern will be:
Asset ClassProportionRisk Profile
Low/Moderate/High
Money Market & Debt instruments*0-100%Low to Moderate
Units issued by REITs & InvITs0-10% Moderately High

* Includes securitized debt up to 30% of the net assets of the Scheme For complete details on asset allocation for the scheme please refer SID available on www.mahindramanulife.com or visit the nearest Investor Service Centre

Benchmark: CRISIL Low Duration Fund BI Index
Entry Load: N.A.
Exit Load: Nil


FUND MANAGER : MR. RAHUL PAL
Total Experience : 21 years
Experience in managing this fund: 5 years and 11 months (managing since February 15, 2017)


CURRENT MONTH
December 31, 2022
AUM (Rs. In Crore) 367.82
Monthly AAUM (Rs. In Crore) 368.20
Quarterly AAUM (Rs. In Crore) 391.53
Annualised Portfolio YTM* 7.32%
Macaulay Duration (days) 259.11
Modified Duration 0.68
Residual Maturity (days) 271.14

PREVIOUS MONTH
November 30, 2022
AUM (Rs. In Crore) 382.06
Monthly AAUM (Rs. In Crore) 389.40
Quarterly AAUM (Rs. In Crore) -
Avg. Maturity (Days) 248.75
Modified Duration 0.62
Macaulay Duration (Days) 238.19
YTM (%) 7.15
*YTM : Yield to maturity should not be construed as minimum return offered by the Scheme.

*Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS

*Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS

CURRENT MONTH
December 31, 2022
Security % to N.A.
Axis Bank Limited (CRISIL A1+ rated CD) 6.73%
Small Industries Dev Bank of India (CARE A1+ rated CD) 6.59%
TATA Realty & Infrastructure Limited (ICRA AA+ rated CB) 5.39%
Motilal Oswal Financial Services Limited (ICRA A1+ / FITCH A1+ rated CP) 5.38%
Piramal Enterprises Limited (CRISIL A1+ rated CP) 5.34%
Indian Oil Corporation Limited (CRISIL AAA rated CB) 5.33%
ICICI Bank Limited (ICRA A1+ rated CD) 5.07%
Canara Bank (CRISIL A1+ rated CD) 4.07%
Godrej Properties Limited (ICRA A1+ rated CP) 4.04%
Housing & Urban Development Corporation Limited (ICRA AAA rated CB) 4.04%
Total 51.98%

PREVIOUS MONTH
November 30, 2022
Security % to N.A.
Small Industries Dev Bank of India (CARE A1+ rated CD) 6.25%
REC Limited (CRISIL AAA rated CB) 5.19%
Axis Bank Limited (CRISIL A1+ rated CD) 5.18%
Housing Development Finance Corporation Limited (CRISIL AAA rated CB) 5.15%
TATA Realty & Infrastructure Limited (ICRA AA+ rated CB) 5.14%
Motilal Oswal Financial Services Limited (ICRA A1+ / FITCH A1+ rated CP) 5.10%
Indian Oil Corporation Limited (CRISIL AAA rated CB) 5.08%
Piramal Enterprises Limited (CRISIL A1+ rated CP) 5.06%
Godrej Properties Limited (ICRA A1+ rated CP) 3.89%
Reliance Jio Infocomm Limited (CRISIL A1+ rated CP) 3.88%
TOTAL 49.93%
FRESH ADDITIONS COMPLETE EXITS
Security Security
7.38% GOI (MD 20/06/2027) (SOV) 5.63% GOI (MD 12/04/2026) (SOV)
ICICI Bank Limited (CD) 5.74% GOI (MD 15/11/2026) (SOV)
Kotak Mahindra Investments Limited (CP) JM Financial Services Limited (CP)
Reliance Retail Ventures Limited (CP) REC Limited (CB)
Reliance Jio Infocomm Limited (CP)
CP - Commercial Paper, CD - Certificate of Deposit, CB - Corporate Bond, SOV- Sovereign

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).
SYSTEMATIC INVESTMENT PLAN
WITH THIS YOU CAN
• Build corpus in the long term
• Take advantage of rupee cost averaging
• Experience the power of compounding even on small investments
CHOICE OF FREQUENCIES
• Weekly • Monthly • Quarterly
CHOICE OF DATES
Any date of your choice
MINIMUM AMOUNTS / INSTALMENTS
• 6 instalments of ₹ 500 each under weekly frequency
• 6 instalments of ₹ 500 each under monthly frequency
• 4 instalments of ₹ 1500 each under quarterly frequency

SYSTEMATIC TRANSFER PLAN
WITH THIS YOU CAN
• Take measured exposure into a new asset class
• Rebalance your portfolio
CHOICE OF FREQUENCIES
• Daily • Weekly • Monthly • Quarterly
CHOICE OF DATES
Any date^ of your choice
MINIMUM AMOUNTS / INSTALMENTS
• 6 instalments of ₹500 each under daily, weekly and monthly frequency
• 4 instalments of ₹1500 each under quarterly frequency

SYSTEMATIC WITHDRAWAL PLAN
WITH THIS YOU CAN
• Meet regular expenses
CHOICE OF DATES
Any date of your choice

^STP can be registered for any date under the monthly and quarterly frequencies and for any business day under the weekly frequency.
Mahindra Manulife Low Duration Fund

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 15-Feb-17.
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. 1,000 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.

^Benchmark CAGR - Compounded Annual Growth Rate. 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. Rahul Pal manages 10 schemes of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided.

Pursuant to SEBI circular no. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2021/573 dated June 07, 2021 Potential Risk Class ('PRC')
Matrix for debt schemes based on Interest Rate Risk and Credit Risk is as follows:
Scheme Name
Mahindra Manulife Low Duration Fund

This product is suitable for investors who are seeking*:
• Regular Income over short term.
• Investment in debt and money market instruments.

Scheme Riskometer

Scheme Benchmark
CRISIL Low Duration Fund BI Index

Benchmark Riskometer

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


Readers of this material should rely on information / data arising out of their own investigations and advised to seek independent professional advice and arrive at an informed decision before making any investments. Neither Mahindra Manulife Investment Management Private Limited nor Mahindra Manulife Trustee Private Limited, its directors or associates shall be liable for any damages that may arise from the use of the information contained herein.

Reach us at: Sadhana House, 1st Floor, 570,
P.B. Marg, Worli, Mumbai - 400 018, India.
Phone: +91-22-66327900, Fax: +91-22-66327932
Website: www.mahindramanulife.com

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
CNo.00591