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Mahindra Manulife Business Cycle Fund

Mutual fund

Direct · Growth

· AMFI 152045

₹16.30

+3.6%over 1 year

Price of one unit (NAV) on 11 November 2026

NAV went from ₹15.73 on 11 November 2025 to ₹16.30 on 11 November 2026.

Past prices are not a forecast of anything.

Ask about this fund

Overview

Kind of fund
Thematic
Yearly fee
0.94%
Since 8 October 2026
Fund size
₹1,291 crore
Started
11 September 2023
Exit load
1% if sold within 3 months
Compared against
NIFTY 500 TRI
Plan
Direct · Growth
Companies held
68
71 lines in all
Holdings as at
29 September 2026

What does it hold?

Company size

  • Large
  • Mid
  • Small
  • Cash, bonds, abroad
  • Mahindra Manulife Business Cycle Fund

Industries

  • Materials24%
  • Financial21%
  • Industrials13%
  • Energy & Utilities11%
  • Healthcare9%
  • Consumer Discretionary9%
  • Technology7%
  • Consumer Staples1%

Top companies

10 of 68 companies · holdings as at 29 September 2026

  1. 1

    Reliance Industries Ltd

    LargeEnergy & Utilities

    3.9%
  2. 2

    Grasim Industries Ltd

    LargeMaterials

    3.2%
  3. 3

    ICICI Bank Ltd

    LargeFinancial

    3.1%
  4. 4

    JSW Energy Ltd

    MidEnergy & Utilities

    3.0%
  5. 5

    Axis Bank Ltd

    LargeFinancial

    2.7%
  6. 6

    Bandhan Bank Ltd

    SmallFinancial

    2.5%
  7. 7

    Indusind Bank Ltd

    MidFinancial

    2.5%
  8. 8

    Adani Enterprises Ltd

    LargeMaterials

    2.5%
  9. 9

    Indus Towers Ltd

    MidTechnology

    2.3%
  10. 10

    Bajaj Auto Ltd

    LargeConsumer Discretionary

    2.3%
Show all 68
  1. 11

    Tech Mahindra Ltd

    LargeTechnology

    2.2%
  2. 12

    Divi's Laboratories Ltd

    LargeHealthcare

    2.2%
  3. 13

    IDFC First Bank Ltd

    MidFinancial

    2.0%
  4. 14

    Vodafone Idea Ltd

    LargeTechnology

    1.9%
  5. 15

    Ajanta Pharma Ltd

    MidHealthcare

    1.9%
  6. 16

    Adani Transmission Ltd

    LargeEnergy & Utilities

    1.8%
  7. 17

    The Ramco Cements Ltd

    SmallMaterials

    1.8%
  8. 18

    Steel Authority Of India Ltd

    MidMaterials

    1.7%
  9. 19

    Kajaria Ceramics Ltd

    SmallIndustrials

    1.6%
  10. 20

    Glenmark Pharmaceuticals Ltd

    MidHealthcare

    1.6%
  11. 21

    NTPC Ltd

    LargeEnergy & Utilities

    1.6%
  12. 22

    Carborundum Universal Ltd

    SmallMaterials

    1.6%
  13. 23

    Bajaj Finance Ltd

    LargeFinancial

    1.5%
  14. 24

    Maruti Suzuki India Ltd

    LargeConsumer Discretionary

    1.5%
  15. 25

    Coal India Ltd

    LargeMaterials

    1.5%
  16. 26

    Zydus Lifesciences Ltd

    LargeHealthcare

    1.5%
  17. 27

    Ambuja Cements Ltd

    MidMaterials

    1.4%
  18. 28

    Vedanta Aluminium Metal Ltd

    LargeMaterials

    1.4%
  19. 29

    REC Ltd

    MidFinancial

    1.4%
  20. 30

    HBL Power Systems Ltd

    SmallIndustrials

    1.4%
  21. 31

    Asahi India Glass Ltd

    SmallConsumer Discretionary

    1.4%
  22. 32

    Cochin Shipyard Ltd

    SmallIndustrials

    1.4%
  23. 33

    Shriram Transport Finance Company Ltd

    LargeFinancial

    1.4%
  24. 34

    Biocon Ltd

    MidHealthcare

    1.3%
  25. 35

    Ceat Ltd

    SmallConsumer Discretionary

    1.3%
  26. 36

    JSW Steel Ltd

    LargeMaterials

    1.3%
  27. 37

    Sagility India Ltd.

    SmallIndustrials

    1.3%
  28. 38

    Lakshmi Machine Works Ltd

    SmallIndustrials

    1.2%
  29. 39

    Deepak Fertilisers & Petrochemicals Corporation Ltd

    SmallMaterials

    1.2%
  30. 40

    Supreme Petrochem Ltd

    SmallMaterials

    1.2%
  31. 41

    Finolex Cables Ltd

    SmallIndustrials

    1.1%
  32. 42

    Manappuram Finance Ltd

    SmallFinancial

    1.1%
  33. 43

    Kirloskar Brothers Ltd

    SmallIndustrials

    1.1%
  34. 44

    Hindalco Industries Ltd

    LargeMaterials

    1.1%
  35. 45

    Anthem Biosciences Ltd.

    MidHealthcare

    1.1%
  36. 46

    CESC Ltd

    SmallEnergy & Utilities

    1.1%
  37. 47

    Punjab National Bank

    LargeFinancial

    1.1%
  38. 48

    Ujjivan Small Finance Bank Ltd

    SmallFinancial

    1.0%
  39. 49

    HEG Ltd

    SmallIndustrials

    1.0%
  40. 50

    Mphasis Ltd

    MidTechnology

    1.0%
  41. 51

    Dalmia Bharat Ltd

    SmallMaterials

    0.9%
  42. 52

    Jindal Saw Ltd

    SmallMaterials

    0.9%
  43. 53

    Graphite India Ltd

    SmallIndustrials

    0.9%
  44. 54

    SP Apparels Ltd

    SmallConsumer Discretionary

    0.9%
  45. 55

    KPR Mills Ltd

    MidConsumer Discretionary

    0.9%
  46. 56

    Sarda Energy & Minerals Ltd

    SmallMaterials

    0.8%
  47. 57

    Mazagon Dock Shipbuilders Ltd

    MidIndustrials

    0.8%
  48. 58

    Elecon Engineering Company Ltd

    SmallIndustrials

    0.8%
  49. 59

    Tata Consumer Products Ltd

    MidConsumer Staples

    0.7%
  50. 60

    Bank Of Baroda

    LargeFinancial

    0.7%
  51. 61

    Garware Hi-Tech Films Ltd

    SmallMaterials

    0.7%
  52. 62

    Foseco India Ltd

    SmallMaterials

    0.6%
  53. 63

    Triveni Engineering & Industries Ltd

    SmallConsumer Staples

    0.6%
  54. 64

    Garden Reach Shipbuilders & Engineers Ltd

    SmallIndustrials

    0.5%
  55. 65

    Gokaldas Exports Ltd

    SmallConsumer Discretionary

    0.4%
  56. 66

    NOCIL Ltd

    SmallMaterials

    0.4%
  57. 67

    NMDC Ltd

    MidMaterials

    0.3%
  58. 68

    Smartworks Coworking Spaces Ltd.

    SmallIndustrials

    0.2%

What does it cost?

0.94% a year: ₹94 on every ₹10,000 you hold.

The middle fee for Thematic direct plans is 1.05%.

Exit load: 1% if sold within 3 months

How has it done?

1 year
+3.6%
3 years, per year
+17.8%
5 years, per year
Too young

Worst fall so far: −21.4% (Sep 2024 to Mar 2025).

Past prices are not a forecast of anything.

Events

  1. 8 October 2026Fee moved between 0.93% and 0.94% a year (3 changes, 1 Oct – 8 Oct 2026).
  2. 29 September 2026New portfolio published: holdings as at 29 September 2026.
  3. 28 September 2026Fee moved between 0.91% and 0.94% a year (6 changes, 1 Aug – 28 Sep 2026).
  4. 24 July 2026Fee changed from 0.88% to 0.94% a year.
  5. 1 July 2026Fee moved between 0.88% and 0.92% a year (2 changes, 17 Jun – 1 Jul 2026).
Show all 40
  1. 1 June 2026Fee changed from 0.56% to 0.92% a year.
  2. 28 May 2026Fee changed from 1.20% to 0.56% a year.
  3. 27 May 2026Fee changed from 1.15% to 1.20% a year.
  4. 26 May 2026Fee changed from 0.56% to 1.15% a year.
  5. 22 May 2026Fee changed from 1.01% to 0.56% a year.
  6. 21 May 2026Fee changed from 1.28% to 1.01% a year.
  7. 20 May 2026Fee changed from 1.25% to 1.28% a year.
  8. 19 May 2026Fee changed from 0.56% to 1.25% a year.
  9. 15 May 2026Fee changed from 2.31% to 0.56% a year.
  10. 14 May 2026Fee changed from 0.85% to 2.31% a year.
  11. 13 May 2026Fee changed from 0.65% to 0.85% a year.
  12. 12 May 2026Fee changed from 0.66% to 0.65% a year.
  13. 11 May 2026Fee changed from 0.55% to 0.66% a year.
  14. 9 May 2026Fee changed from 0.77% to 0.55% a year.
  15. 8 May 2026Fee changed from 0.55% to 0.77% a year.
  16. 7 May 2026Fee changed from 1.25% to 0.55% a year.
  17. 6 May 2026Fee changed from 0.56% to 1.25% a year.
  18. 5 May 2026Fee changed from 1.71% to 0.56% a year.
  19. 4 May 2026Fee changed from 1.20% to 1.71% a year.
  20. 30 April 2026Fee changed from 0.49% to 1.20% a year.
  21. 7 November 2025Fee moved between 0.47% and 0.51% a year (10 changes, 29 Jul – 7 Nov 2025).
  22. 27 June 2025Fee moved between 0.45% and 0.48% a year (14 changes, 11 Apr – 27 Jun 2025).
  23. 8 April 2025Fee moved between 0.48% and 0.53% a year (5 changes, 24 Mar – 8 Apr 2025).
  24. 18 March 2025Fee moved between 0.50% and 0.55% a year (8 changes, 13 Feb – 18 Mar 2025).
  25. 10 February 2025Fee moved between 0.48% and 0.50% a year (14 changes, 20 Dec 2024 – 10 Feb 2025).
  26. 18 December 2024Fee changed from 0.43% to 0.48% a year.
  27. 12 December 2024Fee moved between 0.41% and 0.45% a year (11 changes, 22 Oct – 12 Dec 2024).
  28. 18 October 2024Fee moved between 0.36% and 0.41% a year (14 changes, 26 Jul – 18 Oct 2024).
  29. 23 July 2024Fee moved between 0.34% and 0.39% a year (6 changes, 13 Jun – 23 Jul 2024).
  30. 7 June 2024Fee moved between 0.39% and 0.43% a year (7 changes, 5 May – 7 Jun 2024).
  31. 25 April 2024Fee moved between 0.43% and 0.48% a year (11 changes, 1 Apr – 25 Apr 2024).
  32. 28 March 2024Fee moved between 0.46% and 0.50% a year (4 changes, 1 Mar – 28 Mar 2024).
  33. 21 February 2024Fee changed from 0.38% to 0.47% a year.
  34. 13 February 2024Fee moved between 0.37% and 0.42% a year (8 changes, 14 Dec 2023 – 13 Feb 2024).
  35. 4 December 2023Fee moved between 0.42% and 0.44% a year (2 changes, 1 Dec – 4 Dec 2023).

Related

All 232 Thematic funds, A to Z →

Sources and dates

Holdings
Groww's page for this fund, month-end 29 September 2026
Prices
AMFI via mfapi.in, to 11 November 2026
Fee
Groww, from 8 October 2026
Company sizes
SEBI's rank by full market value, 25 September 2026