Potential capital appreciation & wealth accumulation through regular investments in long term
	Balances the risk of equity with investments in debt and derivative securities
	Flexible asset allocation feature in dynamic market scenarios

• A well-diversified portfolio that balances risk in equity through investments in debt and arbitrage
  
  
• The equity strategy will be guided by sector and market outlook for medium to long term
  
  
• The debt strategy will be guided by interest rate movements and change in term structure and credit spreads
  
  
• A portfolio structured to reduce the impact of market volatility or drawdowns making it an all season investment option
  

• Key Overweight sectors/Industries include FMCG, Construction Materials and IT vs the Scheme’s Benchmark
  
  
• Key Underweight sectors /Industries include Consumer Services, Banks and Construction vs the Scheme’s Benchmark.
  
  
• Portfolio is around 33% invested in Equities(Unhedged)
  
  

Sector	MMESF	Nifty Equity Savings TRI
Financial Services	17.05%	32.60%
Construction Materials	8.36%	2.06%
Fast Moving Consumer Goods	7.46%	8.47%
Oil Gas & Consumable Fuels	6.79%	11.97%
Information Technology	6.27%	14.17%

^{^}For the equity portion

Data as on August 31, 2024

Security	% to Net Assets
Ambuja Cements Limited*	6.13%
Reliance Industries Limited*	3.60%
Bajaj Finance Limited*	3.34%
ICICI Bank Limited*	3.26%
ITC Limited*	3.19%
HDFC Bank Limited*	3.04%
Sun Pharmaceutical Industries Limited*	2.65%
Tech Mahindra Limited*	2.19%
Hindustan Unilever Limited*	1.63%
NTPC Limited*	1.61%
Total	30.65%

*Includes Fully/Partially hedged positions

Security	% to Net Assets
7.32% GOI (MD 13/11/2030) (SOV)	3.30%
364 Days Tbill (MD 17/10/2024) (SOV)	2.55%
Godrej Industries Limited (CB)	2.49%
7.1% GOI (MD 08/04/2034) (SOV)	2.15%
Kotak Mahindra Investments Limited (CB)	1.85%
Total	12.34%

CP - Commercial Paper, CD - Certificate of Deposit, CB - Corporate Bond, SOV- Sovereign

Annualised Portfolio YTM*1^	7.43%2
Macaulay Duration^	2.21 Year2
Modified Duration^	2.102
Residual Maturity^	2.69 Years2
Portfolio Turnover Ratio (Last 1 year)	3.96
As on (Date)	August 31, 2024
Standard Deviation	5.81%
Beta	1.16
Sharpe Ratio#	0.42
Jenson’s Alpha	-0.0151

*In case of semi annual YTM, it will be annualised
^For debt component
#Risk-free rate assumed to be 6.80% (MIBOR as on 30-08-24) - Source: www.mmda.org
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.
Calculated for the period since inception till August 30, 2024. | Data Source: ICRA Analytics, Bloomberg | Data as on August 30, 2024 | N.A.: Net Assets

Fresh Additions	Complete Exits
Security	Security
Oil & Natural Gas Corporation Limited	-
Petronet LNG 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 August 31, 2024

Investment Objective:
The Scheme seeks to generate long term capital appreciation and also income through investments in equity and equity related instruments, arbitrage opportunities and investments in debt and money market instruments. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.

Fund Manager:

Mr. Manish Lodha (Equity)
Total Experience : 23 years
Experience in managing this fund: 3 years and 8 months (Managing since December 21, 2020)

Mr. Renjith Sivaram (Equity)
Total Experience : 13 years
Experience in managing this fund: 1 year and 2 months (managing since July 03, 2023)

Mr. Rahul Pal (Debt)
Total Experience : 22 years,
Experience in managing this fund: 7 years and 7 months ( (managing since February 1, 2017)

Mr. Pranav Patel^$ (Hybrid)
Total Experience: 9 years
Experience in managing this fund: 8 months (Managing since January 05, 2024)
^$Dedicated Fund Manager for Overseas Investments

Date of allotment: February 1, 2017

Benchmark: Nifty Equity Savings TRI

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

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

Minimum Weekly & Monthly SIP Installments: 6

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

Minimum Quarterly SIP installments: 4

Monthly AAUM as on August 31, 2024 (Rs. in Cr.): 534.02

Monthly AUM as on August 31, 2024 (Rs. In Cr.): 543.63

Entry Load: Not applicable

Exit Load: 10% of the units allotted shall be redeemed without any exit load, on or before completion of 15 calendar days 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 15 calendar days from the date of allotment of Units;

• Nil - If Units are redeemed / switched-out after completion of 15 calendar days from the date of allotment of Units.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 1-Feb-17.
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. Manish Lodha is managing this fund since December 21, 2020. Mr. Renjith Sivaram is managing this fund since July 03, 2023. Mr. Pranav Patel is managing this fund since January 05, 2024.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 1-Feb-17.
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. ^#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 11 schemes, Mr. Manish Lodha manages 10 schemes, Mr. Renjith Sivaram manages 3 schemes and Mr. Pranav Patel manage 5 schemes each of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided. Performance as on August 31, 2024
Note: As August 31, 2024 was a non - business day, the schemes returns disclosed are as on August 30,2024, except for Mahindra Manulife Liquid Fund and Mahindra Manulife Overnight Fund which is as of August 31, 2024.