GOVERNMENT POLICIES: Policies like Make in India, Atmanirbhar Bharat, Production Linked Incentives etc. could drive manufacturing in India.
	GLOBAL TAILWINDS:Diversification of production away from China to avoid supply chain shocks and overdependence could boost manufacturing in India
	IMPROVED INFRASTRUCTURE: Push for improved physical and industrial infrastructure, increased power capacity could be an important enabler for manufacturing.

	EXPORT PROMOTION: Focusing on companies that are manufacturing finished goods for export.
	IMPORT SUBSTITUTION: Substitution of imported finished goods and raw materials with domestically manufactured products and materials
	DOMESTIC CONSUMPTION: Focus on Production of goods for used by domestic businesses and retail consumers.

• Key Overweight sectors/Industries include Capital Goods, Oil Gas & Consumable Fuels and Consumer Services vs the Scheme’s Benchmark
  
  
• Key Underweight sectors /Industries include Healthcare, Chemicals and Automobile and Auto Components vs the Scheme’s Benchmark.
  

Sector	MMMF*	BSE India Manufacturing TRI
Capital Goods	24.89%	19.79%
Automobile And Auto Components	24.73%	27.04%
Oil Gas & Consumable Fuels	10.42%	9.39%
Healthcare	6.68%	17.09%
Chemicals	6.22%	7.37%

#For the equity portion
*Mahindra Manulife Manufacturing Fund

Data as on November 30,2025

Security	% to Net Assets
Mahindra & Mahindra Limited	5.45%
Reliance Industries Limited	4.93%
PTC Industries Limited	3.46%
Bharat Electronics Limited	3.45%
Divi's Laboratories Limited	3.20%
Shriram Pistons and Rings Limited	3.03%
Samvardhana Motherson International Limited	2.94%
Larsen & Toubro Limited	2.74%
Kirloskar Brothers Limited	2.49%
Tega Industries Limited	2.44%
Total	34.13%

Data as on November 30,2025

Fresh Additions	Complete Exits
Security	Security
Indian Oil Corporation Ltd	Hero MotoCorp Ltd
Anthem Biosciences Ltd	Hindustan Petroleum Corporation Ltd
	APL Apollo Tubes Ltd

Turnover Ratio (Last 1 year)

0.22

Investment Objective:
The Scheme shall seek to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in manufacturing theme. However, there is no assurance that the objective of the Scheme will be achieved.

^¢$Fund Manager:
Mr. Renjith Sivaram
Total Experience: 14 years
Experience in managing this fund: 1 year and 5 Months
(managing since June 24, 2024)

Mr. Manish Lodha
Total Experience: 23 years
Experience in managing this fund: 1 year and 5 Months
(managing since June 24, 2024)

^¢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

Date of allotment: June 24, 2024

Benchmark: BSE India Manufacturing TRI

Options: IDCW (IDCW Option will have IDCW Reinvestment (D) & IDCW Payout facility) and Growth
(D) D-Default

Minimum Application Amount: Rs. 1000 and in multiples of Rs. 1 thereafter

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

Minimum Repurchase Amount:Rs. 1,000/- or 100 units or account balance, whichever is lower

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 November 30,2025 (Rs. in Cr.): 780.47

Monthly AUM as on November 30,2025 (Rs. in Cr.): 766.11

Entry Load: Not Applicable

Exit Load: • An Exit Load of 0.5% is payable if Units are redeemed / switched-out upto 3 months from the date of allotment;
• Nil - If Units are redeemed / switched-out after completion of 3 months from the date of allotment.
Redemption /Switch-Out of Units would be done on First in First out Basis (FIFO).

IDCW: Income Distribution cum Capital Withdrawal

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 24-Jun-24.
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 thescheme is calculated on face value of Rs. 10 invested at inception. The performance details provided above are of Growth Option under Regular and Direct Plan. Different Plans i.e Regular Plan and Direct Plan under the scheme has differentexpense structure. *Based on standard investment of Rs. 10,000 made at the beginning of the relevant period.
^¢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

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 24-Jun-24.
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. Renjith Sivaram manages 4 schemes and Mr. Manish Lodha manages 10 schemes 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