Mahindra Manulife
Dynamic Bond Fund


An open ended dynamic debt scheme investing across duration. A relatively high interest rate risk and moderate credit risk.


One Pager February 29, 2024

• Investors seeking to invest in a bond fund positioned to benefit from volatility in the debt markets
• Investors seeking to invest across duration and permissible credit curve to benefit from medium term anomalies.
• Ideal for investors with moderate risk profile
Mahindra Manulife Dynamic Bond Fund endeavours to take advantage of interest rate movements. With the flexibility to counter a dynamic environment, the Scheme aims to generate regular returns and capital appreciation through active management of portfolio in line with the evolving interest rate scenario.
  • The Annualised Portfolio YTM of the portfolio is around 7.57%.

  • The Modified Duration of the portfolio (MD) increased to around 6.60 years

  • The Portfolio largely derives it duration from Gilts as we believe that the AAA credit spreads may expand as we move ahead
Under normal circumstances the asset allocation pattern will be:
InstrumentsIndicative Allocation
(% of assets)
Risk Profile
MinimumMaximumLow/Moderate/ High
Debt* & Money Market instruments0%100%Moderate
Units issued by REITs & InvITs 0% 10% Moderately High

* Includes securitized debt and debt instruments having structured obligations/credit enhancements (such as corporate / promoter guarantee, conditional and contingent liabilities, covenants, pledge and / or Non Disposal Undertaking of shares etc) upto 35% of the net assets of the Scheme.

Benchmark: CRISIL Dynamic Bond B-III Index
Entry Load: N.A.
Exit Load: Nil


FUND MANAGER : MR. RAHUL PAL
Total Experience : 22 years
Experience in managing this fund: 5 years and 7 months (managing since August 20, 2018)



Note: The data/statistics given above are to explain general market trends in the securities market, it should not be construed as any research report/research recommendation.
CURRENT MONTH
February 29, 2024
AUM (Rs. In Crore) 65.58
Monthly AAUM (Rs. In Crore) 67.40
Annualised Portfolio YTM* 7.57%
Macaulay Duration (Years) 6.85
Modified Duration 6.60
Residual Maturity (Years) 11.49

PREVIOUS MONTH
January 31, 2024
AUM (Rs. In Crore) 69.18
Monthly AAUM (Rs. In Crore) 69.03
Annualised Portfolio YTM* 7.66%
Macaulay Duration (Years) 6.19
Modified Duration 5.96
Residual Maturity (Years) 10.36
*In case of semi annual YTM, it will be annualised

**Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS.
Data as on February 29, 2024

**Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS.
Data as on February 29, 2024

CURRENT MONTH
February 29, 2024
Security % to N.A.
7.18% GOI (MD 24/07/2037) (SOV) 23.73%
7.18% GOI (MD 14/08/2033) (SOV) 23.03%
7.3% GOI (MD 19/06/2053) (SOV) 15.51%
7.64% Maharashtra SDL (MD 25/01/2033) (SOV) 7.73%
7.17% GOI (MD 17/04/2030) (SOV) 7.66%
Bharti Telecom Limited (CRISIL AA+ rated CB) 7.60%
360 One Prime Limited (CRISIL AA rated CB) 3.80%
Embassy Office Parks REIT (CRISIL AAA rated CB) 3.80%
TVS Credit Services Limited (CRISIL AA rated CB) 3.78%
Corporate Debt Market Development Fund Class A2 (CDMDF) 0.27%
TOTAL 96.91%

PREVIOUS MONTH
January 31, 2024
Security % to N.A.
7.18% GOI (MD 24/07/2037) (SOV) 22.31%
7.3% GOI (MD 19/06/2053) (SOV) 14.51%
7.17% GOI (MD 17/04/2030) (SOV) 14.50%
7.18% GOI (MD 14/08/2033) (SOV) 7.97%
REC Limited (CRISIL AAA rated CB) 7.35%
7.64% Maharashtra SDL (MD 25/01/2033) (SOV) 7.26%
Bharti Telecom Limited (CRISIL AA+ rated CB) 7.21%
Embassy Office Parks REIT (CRISIL AAA rated CB) 3.60%
360 One Prime Limited (CRISIL AA rated CB) 3.60%
National Bank For Agriculture and Rural Development (CRISIL AAA rated CB) 3.59%
TOTAL 91.89%
CP - Commercial Paper, CD - Certificate of Deposit, CB - Corporate Bond, SOV- Sovereign
FRESH ADDITIONS COMPLETE EXITS
Security Security
- National Bank For Agriculture and Rural Development (CB)
- REC Limited (CB)
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 • Half-Yearly & Annual
CHOICE OF DATES
Any date of your choice
MINIMUM AMOUNTS / INSTALMENTS
• 2 instalments of ₹ 500 each under monthly / quarterly / Half-Yearly & Annual 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 Dynamic Bond Fund

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 20-Aug-18.
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.

^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. The performance data for the schemes which have not completed one year has not been provided.

Pursuant to Clause 17.5 of the SEBI Master Circular SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/74 dated May 19, 2023 Potential Risk Class (‘PRC’) Matrix for debt schemes based on Interest Rate Risk and Credit Risk is as follows:
Scheme Name
Mahindra Manulife Dynamic Bond Fund

This product is suitable for investors who are seeking*:
• To generate regular returns and capital appreciation through active management of portfolio.
• Investments in debt & money market instruments across duration.

Scheme Riskometer

Scheme Benchmark
CRISIL Dynamic Bond B-III 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.

Get in Touch: Unit No. 204, 2nd Floor, Amiti Building, Piramal Agastya Corporate Park, LBS Road, Kamani Junction, Kurla (W), Mumbai – 400 070.
Phone: +91-22-66327900, Fax: +91-22-66327932 Toll Free No.: 1800 419 6244
Website: www.mahindramanulife.com

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
CNo.00592