Mahindra Manulife
Low Duration Fund


An open ended low duration debt scheme investing in instruments such
that the Macaulay duration of the Portfolio is between6 months and 12 months
(please refer to page no. 33 of SID).
A relatively low interest rate risk and moderate credit risk.



One Pager September 2023

1 Suitability: An alternative to savings/ current bank accounts to park short-term surplus money
2 Convenience: Zero load, zero lock-in means redemptions are always possible at no additional cost.
3 Transparency: Regular monthly factsheets highlight allocation of funds and performance of the scheme
  • Play accrual strategy

  • Limited duration play with tactical position

  • Invest in good quality debt and money market instruments
  • The Residual maturity is around 627 days

  • The Annualised Portfolio YTM of the portfolio has increased to 7.67%

  • With our view on Gsec possibly offering better opportunities than Bonds, we derive around 30% of our duration through Gsecs in this fund
Under normal circumstances the asset allocation pattern will be:
Asset ClassIndicative Allocation (%of net assets)Risk Profile
MinimumMaximumLow/ Moderate/ High
Money Market & Debt instruments*0%100%Low to Moderate
Units issued by REITs & InvITs0%10% Moderately High

* Includes securitized debt up to 30% of the net assets of the Scheme For complete details on asset allocation for the scheme please refer SID available on www.mahindramanulife.com or visit the nearest Investor Service Centre

Benchmark: CRISIL Low Duration Debt B-I Index
Entry Load: N.A.
Exit Load: Nil

FUND MANAGER : MR. RAHUL PAL
Total Experience : 22 years
Experience in managing this fund: 6 years and 8 months (managing since February 15, 2017)

Note: The data/statistics given above are to explain general market trends in the securities market, it should not be construed as any research report/ research recommendation.

CURRENT MONTH
September 30, 2023
AUM (Rs. In Crore) 414.95
Quarterly AAUM (Rs. In Crore) 413.59
Monthly AAUM (Rs. In Crore) 400.40
Annualised Portfolio YTM* 7.67%
Macaulay Duration (days) 334.49
Modified Duration 0.87
Residual Maturity (days) 627.01

PREVIOUS MONTH
August 31, 2023
AUM (Rs. In Crore) 429.30
Quarterly AAUM (Rs. In Crore) 423.49
Monthly AAUM (Rs. In Crore) 423.49
Annualised Portfolio YTM* 7.54%
Macaulay Duration (days) 261.56
Modified Duration 0.69
Residual Maturity (days) 554.96
*In case of semi annual YTM, it will be annualised

**Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS.
Data as on September 30, 2023

**Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS.
Data as on September 30, 2023

CURRENT MONTH
September 30, 2023
Security % to N.A.
Small Industries Dev Bank of India (CRISIL AAA / ICRA AAA rated CB) 6.00%
4.7% GOI FRB (MD 22/09/2033) (SOV) 4.91%
REC Limited (CRISIL AAA rated CB) 4.80%
National Bank For Agriculture and Rural Development (CRISIL AAA / ICRA AAA rated CB) 4.78%
Indian Oil Corporation Limited (CRISIL AAA rated CB) 4.78%
LIC Housing Finance Limited (CRISIL AAA rated CB) 4.73%
360 One Prime Limited (CRISIL A1+ rated CP) 4.64%
Shriram Finance Limited (CRISIL AA+ rated CB) 3.65%
Embassy Office Parks REIT (CRISIL AAA rated CB) 3.61%
National Housing Bank (CRISIL AAA rated CB) 3.60%
Total 45.50%

PREVIOUS MONTH
August 31, 2023
Security % to N.A.
Axis Bank Limited (CRISIL A1+ rated CD) 5.67%
4.7% GOI FRB (MD 22/09/2033) (SOV) 4.73%
REC Limited (CRISIL AAA rated CB) 4.65%
360 One WAM Limited (ICRA A1+ rated CP) 4.64%
National Bank For Agriculture and Rural Development (CRISIL AAA / ICRA AAA rated CB) 4.61%
Indian Oil Corporation Limited CRISIL AAA rated CB) 4.61%
ICICI Bank Limited (ICRA A1+ rated CD) 4.57%
Embassy Office Parks REIT CRISIL AAA rated CB) 3.48%
Small Industries Dev Bank of India (ICRA AAA rated CB) 3.48%
Piramal Enterprises Limited CRISIL A1+ rated CP) 3.48%
Total 43.93%
CP - Commercial Paper, CD - Certificate of Deposit, CB - Corporate Bond, SOV- Sovereign
FRESH ADDITIONS COMPLETE EXITS
Security Security
360 One Prime Limited (CP) 360 One WAM Limited (CP)
Mindspace Business Parks REIT (CB) 364 Days Tbill (MD 23/11/2023) (SOV)
National Housing Bank (CB) Axis Bank Limited (CD)
Power Finance Corporation Limited (CB) Godrej Properties Limited (CP)
- ICICI Bank Limited (CD)
- Northern Arc Capital Limited (CP)
CP - Commercial Paper, CD - Certificate of Deposit, CB - Corporate Bond, SOV- Sovereign

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).
SYSTEMATIC INVESTMENT PLAN
WITH THIS YOU CAN
• Build corpus in the long term
• Take advantage of rupee cost averaging
• Experience the power of compounding even on small investments
CHOICE OF FREQUENCIES
• Weekly • Monthly • Quarterly
CHOICE OF DATES
Any date of your choice
MINIMUM AMOUNTS / INSTALMENTS
• 6 instalments of ₹ 500 each under weekly frequency
• 6 instalments of ₹ 500 each under monthly frequency
• 4 instalments of ₹ 1500 each under quarterly frequency

SYSTEMATIC TRANSFER PLAN
WITH THIS YOU CAN
• Take measured exposure into a new asset class
• Rebalance your portfolio
CHOICE OF FREQUENCIES
• Daily • Weekly • Monthly • Quarterly
CHOICE OF DATES
Any date^ of your choice
MINIMUM AMOUNTS / INSTALMENTS
• 6 instalments of ₹500 each under daily, weekly and monthly frequency
• 4 instalments of ₹1500 each under quarterly frequency

SYSTEMATIC WITHDRAWAL PLAN
WITH THIS YOU CAN
• Meet regular expenses
CHOICE OF DATES
Any date of your choice

^STP can be registered for any date under the monthly and quarterly frequencies and for any business day under the weekly frequency.
Mahindra Manulife Low Duration Fund

^Benchmark ^^Additional Benchmark. CAGR – Compounded Annual Growth Rate. Inception/Allotment date: 15-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. 1,000 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.

^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 of Mahindra Manulife Mutual Fund. The performance data for the schemes which have not completed one year has not been provided.

Pursuant to Clause 17.5 of the SEBI Master Circular SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/74 dated May 19, 2023 Potential Risk Class (‘PRC’) Matrix for debt schemes based on Interest Rate Risk and Credit Risk is as follows:
Scheme Name
Mahindra Manulife Low Duration Fund

This product is suitable for investors who are seeking*:
• Regular Income over short term.
• Investment in debt and money market instruments.

Scheme Riskometer

Scheme Benchmark
CRISIL Low Duration Debt B-I Index

Benchmark Riskometer

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


Readers of this material should rely on information / data arising out of their own investigations and advised to seek independent professional advice and arrive at an informed decision before making any investments. Neither Mahindra Manulife Investment Management Private Limited nor Mahindra Manulife Trustee Private Limited, its directors or associates shall be liable for any damages that may arise from the use of the information contained herein.

Get in Touch: Unit No. 204, 2nd Floor, Amiti Building, Piramal Agastya Corporate Park, LBS Road, Kamani Junction, Kurla (W), Mumbai – 400 070.
Phone: +91-22-66327900, Fax: +91-22-66327932 Toll Free No.: 1800 419 6244
Website: www.mahindramanulife.com

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
CNo.00591