Tax benefit with deduction under Section 80C of Income Tax Act, 1961*
	3-year lock-in period to maximise growth potential
	Potential Capital Appreciation through a diversified equity portfolio
*Assuming investor uses the entire ₹ 1.50 lac limit available under section 80C of the Income Tax Act 1961 for investing in Mahindra Manulife ELSS Fund. The tax benefit is calculated on the basis of current applicable tax rates under the old regime, ignoring marginal relief on surcharge, if any, for net taxable income between ₹ 50 lacs and ₹ 1 crore. The Finance Act 2020 has introduced a new income tax regime at concessional tax rates for individual taxpayers. However, the option for such concessional tax regime requires the taxpayer to forego certain solicited deductions including deduction u/s 80C of Income Tax Act. 1961. Please consult your financial / tax advisor before investing.

• A portfolio of companies with strong industry leadership and high moat.
  
  
• A well-diversified portfolio that looks to capture potential long term growth opportunities from across market caps.
  

• Key Overweight sectors/Industries include Banks, Capital Goods and Consumer Durables vs the Scheme’s Benchmark
  
  
• Key Underweight sectors /Industries include FMCG, Oil & Gas and IT vs the Scheme’s Benchmark
  
  
• Portfolio has shifted some allocation out of small caps to large cap and midcaps where valuations look reasonable vs the market
  

Sector	MMEF	Nifty 500 TRI Index
Financial Services	31.22%	30.72%
Information Technology	9.09%	10.33%
Capital Goods	8.16%	4.81%
Automobile And Auto Components	6.72%	6.29%
Consumer Durables	6.33%	3.61%

Data as on September 30, 2023

Security	% to Net Assets
HDFC Bank Limited	7.87%
ICICI Bank Limited	7.78%
Infosys Limited	5.16%
Reliance Industries Limited	5.12%
Axis Bank Limited	4.93%
Tata Consultancy Services Limited	3.39%
Bajaj Finance Limited	2.92%
Maruti Suzuki India Limited	2.72%
NTPC Limited	2.30%
Hindalco Industries Limited	2.00%
Total	44.18%

Fresh Additions	Complete Exits
Security	Security
ABB India Limited	Alkem Laboratories Limited
Coal India Limited	Astral Limited
Delhivery Limited	Century Plyboards (India) Limited
GlaxoSmithKline Pharmaceuticals Limited	Godrej Properties Limited
Indoco Remedies Limited	HDFC Life Insurance Company Limited
Indus Towers Limited	JK Lakshmi Cement Limited
-	UltraTech Cement Limited
-	Voltamp Transformers 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 September 30, 2023

Turnover Ratio (Last 1 year)	0.59
Standard Deviation	14.11%
Beta1	0.93
Sharpe Ratio#	1.25
Jenson's Alpha2	0.2113

#Risk-free rate assumed to be 6.95% (MIBOR as on 29-09-23) - 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 September 30, 2023 and annualized. 2. Calculated for the period since inception till September 30, 2023 Data Source: ICRA Analytics, Bloomberg | Data as on September 30, 2023 | N.A.: Net Assets

Investment Objective:
The investment objective of the Scheme is to generate long term capital appreciation through a diversified portfolio of equity and equity related securities. The Scheme does not guarantee or assure any returns.

Fund Manager:

Ms. Fatema Pacha
Total Experience : 18 years
Experience in managing this fund: 2 years and 11 months (managing since October 16, 2020)

Mr. Manish Lodha
Total Experience : 23 years,
Experience in managing this fund: 2 years and 9 months (Managing since December 21, 2020)

Date of allotment: October 18, 2016

Benchmark: Nifty 500 TRI Index

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

Minimum Application Amount: Rs. 500 and in multiples of Rs.500 thereafter

Minimum Additional Purchase Amount: Rs. 500 and in multiples of Rs. 500 thereafter

Minimum Repurchase Amount: Rs. 500 or 50 units or account balance, whichever is lower

Minimum Weekly & Monthly SIP Amount: Rs 500 and in multiples of Rs 500 thereafter

Minimum Weekly & Monthly SIP Installments: 6

Minimum Quarterly SIP Amount: Rs 1,500 and in multiples of Rs 500 thereafter

Minimum Quarterly SIP installments: 4

Monthly AAUM as on September 30, 2023 (Rs. in Cr.): 675.56

Quarterly AAUM as on September 30, 2023 (Rs. in Cr.): 653.43

Monthly AUM as on September 30, 2023 (Rs. In Cr.): 678.77

Entry Load: Not applicable

Exit Load: Nil

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 18-Oct-16.
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. Ms. Fatema Pacha is managing this scheme since October 16, 2020. Mr Manish Lodha is managing this scheme since December 21,2020. *Based on standard investment of Rs. 10,000 made at the beginning of the relevant period.

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 18-Oct-16.
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. Ms. Fatema Pacha manage 8 schemes and Mr. Manish Lodha manage 10 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 September 29, 2023