Selection of focused sustainable businesses from across sectors
	Potential to generate higher risk adjusted returns in the long term
	Active management of portfolio with primary investments in mid-caps

• A portfolio largely of market leaders in their respective product segments and focused-line businesses in larger markets that are likely to be tomorrow's large caps.
  
  
• A portfolio of companies with high growth potential and a robust balance sheet to support such growth.
  

• Key Overweight sector/Industries includes Capital Good & industrials, Autos and construction material vs scheme benchmark.
  
  
• Key Underweights sectors /Industries includes Healthcare, consumer durables and banks vs scheme benchmark
  
  
• Metals and IT are in line with scheme benchmark weights.
  
  
• Portfolio has higher allocation towards Small caps on the basis of bottom up stock selection.
  

Data as on December 31, 2022

Sector	MMMUY	Nifty Midcap 150 TRI
Capital Goods	19.87%	12.32%
Financial Services	15.29%	20.46%
Automobile And Auto Components	11.03%	8.44%
Healthcare	6.23%	10.46%
Chemicals	6.00%	6.82%

Data as on December 30, 2022

Security	% to Net Assets
The Federal Bank Limited	4.09%
Max Healthcare Institute Limited	2.69%
Dalmia Bharat Limited	2.66%
Punjab National Bank	2.62%
Abbott India Limited	2.59%
Grindwell Norton Limited	2.53%
Bharat Forge Limited	2.50%
Oberoi Realty Limited	2.48%
Schaeffler India Limited	2.40%
Cummins India Limited	2.37%
Top 10 Holdings	26.93%

Fresh Additions	Complete Exits
Security	Security
Astral Limited	ABB India Limited
Birlasoft Limited	Atul Limited
Gujarat Fluorochemicals Limited	Bank of Baroda
Jindal Stainless Limited	Century Textiles & Industries Limited
LTIMindtree Limited	Deepak Nitrite Limited
Polycab India Limited	Infosys Limited
Punjab National Bank	Varun Beverages Limited
REC Limited
Triveni Engineering & 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

Turnover Ratio (Last 1 year)	1.37
Standard Deviation	22.06%
Beta1	0.80
Sharpe Ratio#	0.69
Jenson's Alpha2	-0.0325

#Risk-free rate assumed to be 6.60% (MIBOR as on 31-12-22) - Source: www.mmda.org
1. 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. 2. Calculated for the period since inception till December 31, 2022. | Data Source: ICRA Analytics, Bloomberg | Data as on December 31, 2022

Investment Objective:
The investment objective of the Scheme is to seek to generate long term capital appreciation & provide long-term growth opportunities by investing in a portfolio constituted of equity & equity related securities and derivatives predominantly in mid cap companies. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Fund Manager:

Mr. Abhinav Khandelwal
Total Experience : 14 years
Experience in managing this fund: 11 months (Managing since February 1, 2022)

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

Date of allotment: January 30, 2018

Benchmark: Nifty Midcap 150 TRI

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

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

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

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 December 31, 2022 (Rs. in Cr.): 1,071.78

Quarterly AAUM as on December 31, 2022 (Rs. in Cr.): 1058.68

Monthly AUM as on December 31, 2022(Rs. In Cr.): 1,063.24

Entry Load: Not applicable

Exit Load: • An Exit Load of 1% is payable if Units are redeemed / switched-out upto 1 year from the date of allotment;
• Nil if Units are redeemed / switched-out after 1 year from the date of allotment.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 30-Jan-18.
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. Abhinav Khandelwal is managing this fund since February 1, 2022. Mr. Manish Lodha is managing this fund since December 21, 2020.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 30-Jan-18.
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. Abhinav Khandelwal manages 6 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.
Performance as on December 30, 2022