Optimal asset allocation at regular intervals.
	Aims to capture the optimum mix between Equity and Debt across market cycles.
	With flexibility to invest upto 100% in equity & debt, the Scheme may be suitable for volatile market conditions.
	Endeavours to provide tax efficiency*

*Though the scheme is a dynamic asset allocation scheme, the endeavour will be to invest a minimum of 65% of its net assets in equity and equity related instruments which may help in attracting equity taxation as per prevailing tax laws.

• Portfolio composition would have preference for growth style of investing with large cap bias.
  
  
• Bottom-up approach would be adopted to identify companies that have ability to scale up, gain market share and/or are present in sunrise/high growth sectors.
  

• Key Overweight sectors/Industries include Financial Services, Capital Goods and Healthcare vs the Scheme’s Benchmark
  
• Key Underweight sectors /Industries include Oil Gas & Consumable Fuels, Consumer Durables and Power vs the Scheme’s Benchmark
  
• Portfolio is around 68% invested in Equities (Unhedged)
  

Sector	MMBAF*	Nifty 50 Hybrid Composite Debt 50: 50 TRI
Financial Services	23.94%	18.42%
Healthcare	9.33%	2.16%
Capital Goods	5.30%	0.62%
Telecommunication	4.46%	2.40%
Oil Gas & Consumable Fuels	4.03%	5.20%

^For the equity portion

*Mahindra Manulife Balanced Advantage Fund

Data as on November 30,2025

Security	% to Net Assets
JSW Steel Limited	3.73%
Indus Towers Limited	2.66%
UltraTech Cement Limited	2.56%
ICICI Bank Limited	2.53%
Reliance Industries Limited	2.26%
State Bank of India	2.25%
Axis Bank Limited	2.05%
IndusInd Bank Limited	1.89%
Bharti Airtel Limited	1.80%
Divi's Laboratories Limited	1.73%
Total	23.46%

Includes Fully/Partially hedged positions

Fresh Additions	Complete Exits
Security	Security
-	-
-	-
-	-
-	-

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 November 30,2025

Annualised Portfolio YTM*1^	6.54%2
Macaulay Duration^	2.56 years2
Modified Duration^	2.452
Residual Maturity^	3.78 years2
Portfolio Turnover Ratio (Last 1 year)	2.04
As on (Date)	November 30,2025
Standard Deviation	8.69%
Beta	1.17
Sharpe Ratio#	0.75
Jenson’s Alpha	0.0905

*In case of semi annual YTM, it will be annualised
^For debt component
¹Yield to maturity should not be construed as minimum return offered by the Scheme;
²Calculated on amount invested in debt securities (including accrued interest), deployment of funds in TREPS and Reverse Repo and net receivable / payable. Data as on November 30,2025. Risk-free rate assumed to be 5.59% (MIBOR as on 28-11-25) Source: www.mmda.org
Note:As per AMFI guidelines for factsheet, the ratios are calculated based on month rolling returns for last 3 years. Data as on November 28,2025

Investment Objective:
The investment objective of the Scheme is to provide capital appreciation and generate income through a dynamic mix of equity, debt and money market instruments. The Scheme seeks to reduce the volatility by diversifying the assets across equity, debt and money market instruments. However, there can be no assurance that the investment objective of the Scheme will be achieved.

^$Fund Manager:

Mr. Manish Lodha (Equity)
Total Experience : 23 years
Experience in managing this fund: 3 Years and 11 months (Managing since December 30, 2021)

Ms. Fatema Pacha (Equity)
Total Experience : 18 years,
Experience in managing this fund: 3 Years and 11 months (Managing since December 30, 2021)

Mr. Rahul Pal (Debt)
Total Experience : 22 years,
Experience in managing this fund: 3 Years and 11 months (Managing since December 30, 2021)

^$Note: Pursuant to notice cum addendum no. 46/2025, Mr. Manish Lodha, Fund Manager – Equity and a Key Personnel of MMIMPL has resigned from the services of MMIMPL effective from December 02, 2025

Date of allotment: December 30, 2021

Benchmark: Nifty 50 Hybrid Composite Debt 50: 50 TRI

Option: IDCW and Growth (D)
D-Default

IDCW Sub-options: IDCW Reinvestment (D) & IDCW Payout

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

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

Minimum Weekly & Monthly SIP Installments: 6

Monthly AAUM as on November 30,2025 (Rs. in Cr.): 937.53

Monthly AUM as on November 30,2025 (Rs. In Cr.): 934.52

Entry Load: Not applicable

Exit Load: 10% of the units allotted shall be redeemed without any exit load, on or before completion of 3 months from the date of allotment of Units.
Any redemption in excess of the above limit shall be subject to the following exit load:
• An Exit Load of 1% is payable if Units are redeemed / switched-out on or before completion of 3 months from the date of allotment of Units;
• Nil - If Units are redeemed / switched-out after completion of 3 months from the date of allotment of Units

IDCW: Income Distribution cum Capital Withdrawal.

^Benchmark ^^Additional Benchmark. Inception/Allotment date: 30-Dec-21.
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.
^$Note: Pursuant to notice cum addendum no. 46/2025, Mr. Manish Lodha, Fund Manager – Equity and a Key Personnel of MMIMPL has resigned from the services of MMIMPL effective from December 02, 2025

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 30-December-21.
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. Rahul Pal manages 11 schemes, Mr. Manish Lodha manages 10 schemes and Ms. Fatema Pacha manages 8 schemes each of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided.
Note: As November 29 & 30, 2025 was a non-business days, the schemes returns disclosed are as on November 28, 2025, except for Mahindra Manulife Liquid Fund and Mahindra Manulife Overnight Fund which is as of November 30, 2025.
^¢Note: Pursuant to notice cum addendum no. 45/2025, Fund Manager of the scheme has been changed with effect from December 02, 2025.
^$Note: Pursuant to notice cum addendum no. 46/2025, Mr. Manish Lodha, Fund Manager – Equity and a Key Personnel of MMIMPL has resigned from the services of MMIMPL effective from December 02, 2025