Balanced portfolio with growth focus
	Security selection through robust process frameworks
	Suitable for planning long term goals

• Tactical allocations across asset class adaptive to market cycles
  
  
• Higher equity allocation to companies with high growth potential from across market caps
  
  
• High emphasis on quality of debt securities through a robust credit risk appraisal process
  

Equity:

• Key Overweight sector/Industries includes Capital Goods and Technology sector vs the Scheme’s Benchmark
  
  
• Key Underweights sectors /Industries includes Financials, Utilities and Oil & Gas vs the Scheme’s Benchmark
  
  
• Portfolio has higher allocation to equities vs benchmark with proportional mix to large/mid and small
  

Debt:

• The Modified duration of the portfolio is around 2.61 years for the debt portion.
  
  
• We have now a larger allocation to gilts than credits and may maintain this stance in the near future.
  

Data as on December 31, 2022

Sector	MMHENY	CRISIL Hybrid 35+65 Aggressive Index
Financial Services	24.38%	32.80%
Information Technology	9.58%	11.42%
Capital Goods	6.05%	2.13%
Fast Moving Consumer Goods	5.47%	8.45%
Oil Gas & Consumable Fuels	4.94%	11.46%

Data as on December 31, 2022

Security	% to Net Assets
ICICI Bank Limited	6.64%
Housing Development Finance Corporation Limited	5.34%
Reliance Industries Limited	4.94%
Infosys Limited	4.78%
State Bank of India	3.56%
Kotak Mahindra Bank Limited	2.52%
Tata Consultancy Services Limited	2.48%
Larsen & Toubro Limited	2.40%
Hindustan Unilever Limited	2.25%
Axis Bank Limited	2.09%
Top 10 Holdings	37.01%

Security	% to Net Assets
7.38% GOI (MD 20/06/2027) (SOV)	4.13%
7.26% GOI (MD 22/08/2032) (SOV)	2.46%
Bank of Baroda (CD)	2.31%
Small Industries Dev Bank of India (CD)	2.30%
Power Finance Corporation Limited (CB)	1.64%
Total	12.85%

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

Annualised Portfolio YTM*1^	7.27%2
Macaulay Duration^	2.71 years2
Modified Duration^	2.612
Residual Maturity^	3.31 years2
Portfolio Turnover Ratio (Last 1 year)	0.80
Standard Deviation	16.55%
Beta2	1.06
Sharpe Ratio#	0.63
Jenson’s Alpha	0.1766
As on (Date)	Dec 31, 2022

*In case of semi annual YTM, it will be annualised ^For debt component
#Risk-free rate assumed to be 6.60% (MIBOR as on 31-12-22) - www.mmda.org
1.Yield to maturity should not be construed as minimum return offered by the Scheme; 2. Beta is calculated on the basis of average monthly rolling returns as of last day of the month since inception till December 31, 2022 and annualized. 3. Calculated for the period since inception till December 31, 2022. | Data Source: ICRA Analytics, Bloomberg | Data as on December 31, 2022 | N.A.: Net Assets
²Calculated on amount invested in debt securities (including accrued interest), deployment of funds in TREPS and Reverse Repo and net receivable / payable.

Fresh Additions	Complete Exits
Security	Security
Life Insurance Corporation Of India	Bank of Baroda
Schaeffler India Limited
Tega Industries 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 December 31, 2022

Investment Objective:
The Scheme seeks to generate long term capital appreciation and also income through investments in equity and equity related instruments 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:

Ms. Fatema Pacha (Equity)
Total Experience : 17 years
Experience in managing this fund: 2 years and 2 months (Managing since October 16, 2020)

Mr. Manish Lodha (Equity)
Total Experience : 22 years,
Experience in managing this fund: 2 years (Managing since December 21, 2020)

Mr. Rahul Pal (Debt)
Total Experience : 21 years,
Experience in managing this fund: 3 years and 5 months (Managing since July 19, 2019)

Date of allotment: July 19, 2019

Benchmark: CRISIL Hybrid 35+65 Aggressive Index

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 Redemption/Switch-Out 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

Monthly AAUM as on December 31, 2022 (Rs. in Cr.): 608.57

Quarterly AAUM as on December 31, 2022 (Rs. in Cr.): 582.50

Monthly AUM as on December 31, 20222 (Rs. In Cr.): 608.08

Entry Load: Not applicable

Exit Load: 10% of the units allotted shall be redeemed without any exit load, on or before completion of 12 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 12 months from the date of allotment of Units;
• Nil - If Units are redeemed / switched-out after completion of 12 months from the date of allotment of Units.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 19-Jul-19.
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. Ms. Fatema Pacha is managing this scheme since October 16, 2020. Mr. Manish Lodha is managing this fund since December 21, 2020.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 19-Jul-19.
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 10 schemes, Ms. Fatema Pacha manages 9 schemes and Mr. Manish Lodha manages 10 schemes each of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided.