Rule based diversification for optimum performance in changing market cycles
	Aim to provide stability of large caps and growth of mid caps
	Active stock selection through internal process framework for better return potential

• A portfolio of market leaders and emerging leaders.
  
  
• The portfolio will aim to provide alpha through tactical allocations under changing market cycles
  

• Key Overweight sector/Industries includes Banks, Capital Good & industrials, Autos, cement and Telecom vs the Scheme’s Benchmark
  
  
• Key Underweights sectors /Industries includes Finance, FMCG, Healthcare and Oil &Gas vs the Scheme’s Benchmark
  
  
• IT, Metals and Chemicals are in line with benchmark weights.
  
  
• Portfolio has higher allocation to Large and Small caps but is looking to add more midcap on the basis of available opportunities.
  

Data as on December 31, 2022

Sector	MMTNY	Nifty Large and Mid Cap 250 Index
Financial Services	24.87%	27.47%
Capital Goods	14.22%	6.62%
Information Technology	10.60%	8.59%
Construction Materials	6.76%	2.20%
Automobile And Auto Components	6.25%	6.63%

Data as on December 31, 2022

Security	% to Net Assets
ICICI Bank Limited	4.46%
Infosys Limited	4.33%
State Bank of India	4.04%
Bharat Forge Limited	3.52%
Canara Bank	3.50%
Dalmia Bharat Limited	3.34%
IndusInd Bank Limited	2.95%
United Spirits Limited	2.89%
LTIMindtree Limited	2.81%
Larsen & Toubro Limited	2.78%
Top 10 Holdings	34.64%

Fresh Additions	Complete Exits
Security	Security
Ambuja Cements Limited	ACC Limited
RBL Bank Limited	ITC Limited
REC Limited	MRF 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)	1.28
Standard Deviation	20.85%
Beta1	0.84
Sharpe Ratio#	0.67
Jenson's Alpha2	0.1115

#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 long term capital growth through investments in equity and equity related securities of both large cap and mid cap stocks. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Fund Manager:

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

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

Date of allotment: December 30, 2019

Benchmark: NIFTY Large Midcap 250 TRI 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

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.): 1,082.75

Quarterly AAUM as on December 31, 2022 (Rs. in Cr.): 1054.71

Monthly AUM as on December 31, 2022 (Rs. In Cr.): 1,078.70

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-Dec-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. Mr. Manish Lodha is managing this scheme since December 21, 2020. Mr. Abhinav Khandelwal is managing this scheme since February 1, 2022.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 30-Dec-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. Manish Lodha is managing 10 schemes and Mr. Abhinav Khandelwal is managing 6 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.