Mahindra Manulife
Small Cap Fund


(Small Cap Fund - An open ended equity scheme predominantly investing in small cap stocks)



One Pager as on February 27, 2026

Potential growth tailwinds in Indian Economy.
Opportunity to capitalize on Indian Entrepreneurship.
Opportunity to capture market / economic cycles.
Potential to create wealth and generate alpha over long-term.
Small caps are generally under-researched and under-owned and hence provides an opportunity for stock-picking at reasonable valuations.
Small Caps could be beneficiaries of structural reforms announced from time to time.
Small caps also provide exposure to companies which are potential market leaders in the industries they operate in (a few examples include textile, paper, sugar, luggage) and have potential to become midcaps of tomorrow as they achieve scale.

  • Portfolio construction on bottom up stock selection basis.

  • Key Overweight sectors/Industries include Capital Goods, FMCG and Automobile And Auto Components vs the Schemes’ Benchmark.

  • Key Underweight sectors /Industries include Financial Services, Consumer Durables and Chemicals vs the Schemes’ Benchmark.

Security % to Net Assets
Glenmark Pharmaceuticals Limited 2.73%
The Ramco Cements Limited 2.47%
Ujjivan Small Finance Bank Limited 2.36%
IIFL Finance Limited 2.30%
Jindal Saw Limited 2.28%
Supreme Petrochem Limited 2.27%
Usha Martin Limited 2.25%
Radico Khaitan Limited 2.15%
Divi's Laboratories Limited 2.12%
ZF Commercial Vehicle Control Systems India Limited 2.11%
Total 23.04%

Sector MMSCF* Nifty 250 Small Cap TRI
Capital Goods 16.55% 12.52%
Financial Services 16.13% 24.58%
Healthcare 14.76% 14.67%
Automobile And Auto Components 8.21% 6.22%
Fast Moving Consumer Goods 6.73% 4.65%

*Mahindra Manulife Small Cap Fund

Data as on February 27, 2026

Turnover Ratio (Last 1 year) 1.02

Fresh Additions Complete Exits
Security Security
GE Vernova T&D India Limited APL Apollo Tubes Limited
Mahindra Logistics Limited PNB Housing Finance Limited
Ratnamani Metals & Tubes Limited Godfrey Phillips India Limited
Birlasoft Limited Deepak Fertilizers and Petrochemicals
Navin Fluorine International Limited Corporation Limited
- Aadhar Housing Finance Limited
- Whirlpool of India 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 February 27, 2026

Investment Objective:
The investment objective of the Scheme is to generate long term capital appreciation by investing in a diversified portfolio of equity & equity related securities of small cap companies. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Fund Manager:

Mr. Vishal Jajoo
Total Experience : 17 years
Experience in managing this fund: 1 Year and 2 months (Managing since December 23, 2024)

Mr. Neelesh Dhamnaskar
Total Experience : 21 years
Experience in managing this fund: 1 month (managing since February 16, 2026)

Mr. Krishna Sanghavi
Total Experience : 27 years
Experience in managing this fund: 1 Year and 4 months (Managing since October 24, 2024)

Date of allotment: December 12, 2022

Benchmark: BSE 250 Small Cap 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 Additional Purchase Amount: Rs. 1,000 and in multiples of Re. 1/- thereafter

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

Minimum Weekly & Monthly SIP Installments: 6

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

Minimum Quarterly SIP installments: 4

Monthly AAUM as on February 27, 2026 (Rs. in Cr.): 4,089.72

Monthly AUM as on February 27, 2026 (Rs. In Cr.): 4,075.54

Entry Load: Not applicable

Exit Load: • An Exit Load of 1% is payable if Units are redeemed / switched-out upto 3 months from the date of allotment;
• Nil if Units are redeemed / switched-out after 3 months from the date of allotment.
IDCW: Income Distribution cum Capital Withdrawal

^Benchmark ^^Additional Benchmark. Inception/Allotment date: 12-Dec-22.
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. Mr. Krishna Sanghavi is managing this fund since October 24, 2024. Mr. Vishal Jajoo is managing this fund since December 23, 2024. Mr. Neelesh Dhamnaskar is managing this scheme since February 16, 2026.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 12-Dec-22.
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.
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 6 schemes, and Mr. Vishal Jajoo manages 5 schemes each of Mahindra Manulife Mutual Fund. Mr. Neelesh Dhamnaskar manages 6 schemes each of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided.
Note: The performance data of Mahindra Manulife Value Fund has not been provided as the scheme has not completed 1 year since inception. The said Scheme is managed by Mr. Krishna Sanghavi & Mr. Vishal Jajoo. The performance data of Mahindra Manulife Banking & Financial Services Fund has not been provided as the scheme has not completed 1 year since inception. The said Scheme is managed by Mr. Vishal Jajoo & Mr. Chetan Sanjay Gindodia.
Note: As February 28, 2026 was a non-business days, the schemes returns disclosed are as on February 27, 2026, except for Mahindra Manulife Liquid Fund and Mahindra Manulife Overnight Fund which is as of February 28, 2026.
$Note: Pursuant to notice cum addendum no. 7/2026, Fund Manager of the scheme has been changed with effect from February 16, 2026.

Scheme Name
Mahindra Manulife Small Cap Fund

This product is suitable for investors who are seeking*:
• Long term capital appreciation;
• Investment predominantly in equity and equity related securities of small cap companies.

Scheme Riskometer

Scheme Benchmark
As per AMFI Tier I Benchmark i.e. BSE 250 Small Cap TRI

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.01326