Mahindra Manulife
Ultra Short Term Fund


(An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 to 6 months
(please refer to page no. 31 of SID).
A relatively low interest rate risk and moderate credit risk)


One Pager December, 2022

Quality
  • Look to deploy dominant part of the portfolio in AAA rated assets
Duration
  • Target a portfolio duration of 3 -6 months
Diversification
  • Aim to minimize concentration risk by controlling sector and group exposures
Liquidity
  • Hold sizeable part of the portfolio in short tenor securities and other liquid instruments
  • Laddered approach to liquidity
  • The average maturity of the portfolio is around 136 days

  • We will remain in this maturity segment as we move ahead through the next month

  • The YTM of the portfolio is around 7.15%
Under normal circumstances the asset allocation pattern will be:
Asset ClassProportionRisk Profile
Low/Moderate/High
Debt* & Money Market instruments0-100%Low to Moderate
Units issued by REITs & InvITs 0-10% Moderately High

* Includes securitized debt up to 30% of the net assets of the Scheme and structured obligations (such as corporate / promoter guarantee, conditional and contingent liabilities, covenants, pledge and / or Non Disposal Undertaking of shares etc) upto 25% of the net assets of the Scheme.
Note: For detailed asset allocation pattern, please refer SID/KIM of the Scheme available on our website www.mahindramanulife.com or visit the nearest ISC.

Benchmark: CRISIL Ultra Short 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:3 years and 1 month (Managing since October 17, 2019)

FUND MANAGER : MR. AMIT GARG
Total Experience : 17 years
Experience in managing this fund:2 years and 6 months (Managing since June 8, 2020)


CURRENT MONTH
December 31, 2022
AUM (Rs. In Crore) 191.57
Monthly AAUM (Rs. In Crore) 186.03
Quarterly AAUM (Rs. In Crore) 183.29
Annualised Portfolio YTM* 7.15%
Macaulay Duration (days) 134.81
Modified Duration 0.36
Residual Maturity (days) 135.71

PREVIOUS MONTH
November 30, 2022
AUM (Rs. In Crore) 189.33
Monthly AAUM (Rs. In Crore) 187.63
Quarterly AAUM (Rs. In Crore) -
Avg. Maturity (Days) 117.58
Modified Duration 0.30
Macaulay Duration (Days) 115.62
YTM (%) 6.92
*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.
Tata Power Company Limited (FITCH AA rated CB) 5.23%
Canara Bank (CRISIL A1+ rated CD) 5.22%
Indian Railway Finance Corporation Limited (CRISIL AAA rated CB) 5.21%
TATA Realty & Infrastructure Limited (ICRA AA+ rated CB) 5.20%
Godrej Properties Limited (ICRA A1+ rated CP) 5.17%
Housing & Urban Development Corporation Limited (ICRA AAA rated CB) 5.17%
National Bank For Agriculture and Rural Development (CRISIL AAA / ICRA AAA rated CB) 5.15%
Reliance Retail Ventures Limited (CRISIL A1+ rated CP) 5.15%
Kotak Mahindra Investments Limited (CRISIL A1+ rated CP) 5.05%
Reliance Retail Ventures Limited (CRISIL A1+ rated CP) 5.15%
Total 51.59%

PREVIOUS MONTH
November 30, 2022
Security % to N.A.
Tata Power Company Limited (FITCH AA rated CB) 5.16%
Godrej Properties Limited (ICRA A1+ rated CP) 5.15%
Reliance Jio Infocomm Limited (CRISIL A1+ rated CP) 5.14%
Government of India (SOV) 5.14%
JM Financial Services Limited (CRISIL A1+ rated CP) 5.14%
Indian Railway Finance Corporation Limited (CRISIL AAA rated CB) 5.14%
TATA Realty & Infrastructure Limited (ICRA AA+ rated CB) 5.13%
Canara Bank (CRISIL A1+ rated CD) 5.11%
Housing & Urban Development Corporation Limited (ICRA AAA rated CB) 5.09%
National Bank For Agriculture and Rural Development (CRISIL AAA / ICRA AAA rated CB) 5.08%
TOTAL 51.26%
FRESH ADDITIONS COMPLETE EXITS
Security Security
364 Days Tbill (MD 25/05/2023) (SOV) 6.69% GOI (MD 27/06/2024)(SOV)
Kotak Mahindra Investments Limited (CP) 6.84% GOI (MD 19/12/2022) (SOV)
LIC Housing Finance Limited (CP) Cholamandalam Investment and Finance Company Ltd (CB)
Reliance Retail Ventures Limited (CP) Government Bond Strips (SOV)
Small Industries Dev Bank of India (CD) Housing Development Finance Corporation Limited (CB)
JM Financial Services Limited (CP)
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 FREQUENCIES
• Monthly • Quarterly
CHOICE OF DATES
Any date of your choice
MINIMUM AMOUNTS / INSTALMENTS
• 2 instalments of ₹ 500 each under monthly / quarterly frequency

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

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 17-Oct-19.
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. Mr Amit Garg is managing this scheme since June 8, 2020. Performance details of other schemes managed by the Fund Manager(s) is available at the end of the document.

^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. Rahul Pal manages 10 schemes of Mahindra Manulife Mutual Fund and Mr. Amit Garg manages 4 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 Ultra Short Term Fund

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

Scheme Riskometer

Scheme Benchmark
CRISIL Ultra Short 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