MMMF PPT - July - 2021

Partner Presentation
July, 2021 Intended for IFAs and Distributors

ABOUT US
The joint venture of Mahindra & Mahindra Financial Services Limited and Manulife Investment Management
(Singapore) Pte. Ltd. brings together Mahindra’s domestic market strength and track record of successfully building
businesses focused on meeting customer needs and Manulife’s global wealth and asset management capabilities
and richness of experience in servicing the needs of Asian consumers across developed and developing markets.
We aim to offer wide variety of investment solutions pan-India, with focus on semi-urban areas.
Central Guiding Philosophy:

Making money for our investors at the lowest probability of risk we can find
Investment Processes:
We have built continuously evolving in-house process models for equity and debt portfolios. Selection of securities
in portfolios is guided by QOV process , which evaluates companies on the basis of growth estimates, cashflow
analysis, management and valuations. For debt securities, we follow the Risk Guard process for credit assessment
and monitoring and go beyond the conventional analysis of business, management and financial qualities.
2
OUR SPONSORS
@ 51% @ 49%
Mahindra & Mahindra Financial Manulife Investment Management

Services Limited (Singapore) Pte. Ltd.
3
ABOUT MAHINDRA FINANCE
Mahindra & Mahindra Financial Focused on the rural and semi-urban Mahindra Finance is a leading vehicle
Services Limited (Mahindra Finance), sector, Mahindra Finance has over 7.3 and tractor financier, provides loans to
part of the Mahindra Group, is one of Million customers and has an AUM of SMEs and also offers fixed deposits.
India’s leading non-banking finance over USD 11 Billion.
companies.
Mahindra Finance has over 1,380 offices Mahindra Finance has been included Mahindra Finance has been ranked 25th
and reaches out to customers spread for the 2nd time in the renowned on the list of India’s Best Companies to
over 3,80,000 villages and 7000 towns FTSE4 Good Index Series for ESG work for 2020 by Great Place to Work®
across the country. (Environmental, Social & Governance) Institute.
performance.
As on March 31, 2021
4
MMFSL BACKGROUND
Parentage: Mahindra&MahindraFinancialServicesLimited(“MMFSL”)isasubsidiaryofMahindraandMahindraLimited
(Mcap: Rs 994 billion)*
About MMFSL: MMFSL (Mcap: Rs 216 billion)*, one of India’s leading non-banking finance companies focused in the
rural and semi-urban sector
Key Business Area: Primarily in the business of financing purchase of new and pre-owned auto and utility vehicles,
tractors, cars, commercial vehicles, construction equipment and SME Financing
Vision: MMFSL’s vision is to be a leading provider of financial services in the rural and semi-urban areas of
India
Reach: Has 1,388 offices covering 27 states and 7 union territories in India, with over 7.31 million vehicle
finance customer contracts since inception
Credit Ratings: India Ratings has assigned AAA/Stable, CARE Ratings has assigned AAA/Stable, Brickwork has
assigned AAA/Stable and CRISIL has assigned AA+/Stable rating to the Company’s long termand
subordinated debt
*Source: Market capitalisation as of April 22, 2021 from BSE website
5
MMFSL GROUP STRUCTURE
(1)
80%
Mahindra Insurance Brokers Limited (“MIBL”)
Mahindra & Mahindra Limited 98.43%(2)

Mahindra Rural Housing Finance Limited
(“MRHFL”)
52.16%
49%
Mahindra Finance USA LLC
(Joint venture with Rabobank group subsidiary)
51%(3) Mahindra Manulife Investment Management

Mahindra & Mahindra Pvt. Ltd (“MMIMPL”)
Financial Services Limited
51%(3)
Mahindra Manulife Trustee Pvt. Ltd
(“MMTPL”)
38.2%(5)
Note: Ideal Finance Ltd (“IFL”), Sri Lanka
1. Balance 20% with Inclusion Resources Pvt. Ltd. (IRPL), subsidiary of AXA XL Group
2. Balance 1.57% held by MRHFL Employee Welfare Trust and employees
3. Manulife Investment Management (Singapore) Pte. Ltd. holds 49% of the shareholding of MMIMPL and MMTPL.
4. Mahindra Finance CSR Foundation is a wholly owned subsidiary to undertake all CSR initiatives under one umbrella
5. The Company has entered into a subscription agreement to acquire 58.26% of IFL and has remitted an amount of Rs.44 crores towards acquiring 38.2% of its equity share capital
Source: Mahindra Finance Analyst Presentation, Q4 FY20-21
6
MMFSL JOURNEY
Commenced Housing Finance Maiden Retail NCD Issue of Rs.
business through MRHFL QIP Issue of Rs. 426 crores 1000 crores
Oversubscribed over 7x of base
Raised Rs. 414 crores through JV with Rabobank subsidiary for tractor issue size of Rs. 250 crores Rights Issue of Rs.
Private Equity financing in USA 3,089 crores
Maiden issue of ECB

Long term debt rating upgraded undertaken. Raised over
to AAA by India Ratings and $200 million
Brickwork.
Crossed 1 million
Crossed 6 million
cumulative customer CARE Ratings assigned AAA cumulative customer
contracts rating to long term debt contracts
Equity participation of Sale of 5% of MIBL
Completed IPO, 12.5%by NHB in at a valuation of
MRHFL Certificate of Rs. 1,300 crores Partnered with Manulife
Subscribed ~ 27 Stake sale in MIBL to
Registration for Mutual Fund business
times Inclusion Resources Pvt.
Recommenced Fixed received from
Ltd.
Deposit Program SEBI by Invested in Ideal Finance
QIP Issuance :
Mahindra Mutual for providing financial
QIP Issue of Rs. 867 Rs. 1,056 crores;
Fund services in
crores Preferential Issue to
Sri Lanka
M&M : Rs. 1,055 crores
FY 06 FY 08 FY 09 FY 10 FY 11 FY 13 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21
7
MANULIFE INVESTMENT MANAGEMENT (SINGAPORE) PTE. LTD.
Manulife Investment Management (Singapore) Pte. Ltd. (“MIMS”) is a member of the Manulife Financial group of
companies and is an indirect wholly owned subsidiary of Manulife Financial Corporation.
MIMS has a strong presence in Singapore, managing retail fund schemes, institutional client mandates as well as
managing assets on behalf of its insurance affiliate.
The Manulife Financial Corporation is a leading international financial services group that helps people make their
decisions easier and lives better. Operating primarily as John Hancock in the United States and Manulife elsewhere,
and headquartered in Canada, with global offices across Europe and Asia, Manulife Financial Corporation provides
financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions
and has been servicing the needs of customers for over 150 years. Manulife Financial Corporation had over 35,000
employees, over 102,000 agents and thousands of distribution partners, serving almost 30 million customers, operating
in more than 20 countries and territories and with assets under management and administration of US$816 billion as
of 31 March, 2020. Manulife Investment Management is the global wealth and asset management arm of Manulife
Financial Corporation, with more than 150 years of financial stewardship of client assets across its institutional, retail,
and retirement businesses globally.
8
MANULIFE FINANCIAL
Source: Manulife Quarterly Corporate Presentation, Q4 FY19-20
9
MANULIFE FINANCIAL
10
MANULIFE FINANCIAL
11
MAHINDRA MANULIFE MUTUAL FUND
INVESTMENT PHILOSOPHY
12
INVESTMENT FRAMEWORK : GCMV
The GCMV is an internal investment framework used for determining fair valuation of stocks which further helps in estimating
valuation gaps (fair valuation vis a vis market price), if any. Opportunities are identified based on the identification of Catalysts that
helps in bridging the valuation gaps by re-rating of the stocks.
Growth Management Valuation

• Pricing power • Management track record gap
• Cost Efficiency • Capital Allocation
• New product cycles • Sustainability investments
• ESG risks & opportunities • Governance structure +
Top down & Bottom up analysis Catalysts
Cash-flow generation Valuation

• Cost and margins • Value creation =
• Capital structure • Fair value analysis
• Ability to finance growth • Secular ESG trends
• Overall financial strength • What has been priced in? Re-rating
For illustrative purposes only
13
DEBT INVESTMENT PHILOSOPHY AND PROCESS
Risk Guard Process is our robust internal evaluation system adopted to assess, predict and manage risks better. For all initial credit assessments as well as on-going
monitoring of investments into debt market in our schemes, we aim to follow Risk Guard Process. It looks to optimize returns with a risk moderation.
 Social Media Pulse on Issuers  Profile of Directors

 Gauge Sentiment from Equity Conferences  Past Activities of Promoters
 Profile of Lenders 06  Equity Pledged by Promoters
BEYOND
01
CONVENTIONAL
APPROACH QUALITY OF
MANAGEMENT
 Active credit monitoring CREDIT

MONITORING
 Judge the possibility of earnings manipulation
05 & REVIEW
 Input/Output (Efficiency) Ratios
QUALITY OF 02
FINANCIALS
 Normalisation of rating across Credit
RATING
Rating Agencies
EQUIVALENCE
 Issuer-wise limit based on issuer balance  Operating Ratios
& LIMITS
sheet, rating and sector QUALITY OF  Cash Ratios
BUSINESS
 Competition & Regulatory Environment
04
Note: This is not an exhaustive listing of key determinants and only limited parameters have been mentioned 03
here to aid better understanding of the process. We continuously evolve the list of parameters to enhance our
process. Determinants are not evaluated on a standalone basis.
14
IMPORTANCE OF A ROBUST CREDIT R
ISK
ASSESSMENT PROCESS
Risk needs to
be managed to
There is a huge create a healthy
responsibility rate of return
Opportunity of risk
lies in possibly management
The Myth: higher returns
Higher Risk = at low volatility
Higher Return
15
MARKET OUTLOOK
16
DEBT MARKET OUTLOOK
JULY, 2021
Bond and Money Market
We present a matrix detailing some movement in some key market rates (domestic and global) and key events:
Parameters 30-July-21 30-June-21 30-July-20

RBI Repo Rate % 4.00 4.00 4.00
5Y AAA PSU % 6.20 6.18 5.90
1 year CD % 4.02 4.16 3.75
10Y Gsec % 6.20 6.05 5.84
CPI (%) 6.26 6.30 6.23
IIP (YoY) % 29.27 134.44 -33.38
US 10Y % 1.22 1.47 0.53
Dollar Rupee 74.42 74.33 74.81
Source: Bloomberg; Data as on July 30th, 2021
It was a steady month for the debt markets as all the rate indicators moved in a narrow range. The new 10-year benchmark government of India (GoI) bond was issued at a
cut-off yield of 6.1%. However, through the month, the yields drifted higher as there remained little reasons for the markets to cheer. While a silver lining was the drop in
the US 10-year treasury yield by around 25 basis points, a persistently high domestic inflation dampened the market sentiments. With retail inflation measured by Consumer
17
Price Index (CPI) firmed entrenched at above the 6% limit, it may continue to remain a worrying factor for the markets. What remains to be watchful is the Goods and Services
Tax (GST) collections as we move ahead as robustness in the collections may assuage the market players of the borrowing program remaining within the budgetary limits.
With liquidity continuing to remain easy, money market levels remained soft through the month.
Looking ahead
• The MPC met in the first week of August. While all the policy rates remained unchanged, the stance on a continued accommodative policy met with a dissent from one
member of the MPC. The MPC also changed the average inflation forecast for the year from 5.30 % to 5.70 % marking a large upward move in the inflation. Separately
RBI also announced larger Variable Reverse Repo rate auctions through the quarter, aimed at normalizing the liquidity in the banking system. The debt markets sold off
after the policy and yields moved by around 10 bps.
• We think the dissenting voices within MPC may increase with inflation remaining a concern and the RBI would first move towards normalizing the liquidity deluge in the
banking system.
• We remain apprehensive of a gradual rate rise as we move through the year. We believe that the markets may stop coat tailing the RBI, and may remain apprehensive of
a commodity prices rise induced inflation and a larger borrowing program.
• The possibility of a bear flattening of the yield curve exists with long term rates rising lesser than short term rates.
• We also believe that AAA credit spreads are very tight and the probability of spreads to increase in the near future remains a distinct possibility.
• Liquidity being in sustained surplus mode, the extreme short end of the yield curve may remain stable.
18
EQUITY MARKET OUTLOOK
JULY, 2021
We present a summary of changes in key Indian & Global equity indices.
Index 1 Month Performance 1 Year Performance
S&P BSE Sensex 0.20% 39.80%
Nifty 50 0.30% 42.30%
BSE Midcap 2.40% 67.80%
BSE Small Cap 6.20% 105.70%
Nifty Midcap 100 3.10% 79.80%
Nifty Small Cap 100 8.10% 110.00%
Dow Jones Indus. Avg 1.30% 32.20%
S&P 500 Index 2.30% 34.40%
Nasdaq Composite Index 1.20% 36.60%
Source: Bloomberg Performance - Absolute returns | Data as on July 30th, 2021
Indian markets continued the broad-based rally in July with the Small Cap and Mid cap indices performing better than the Nifty 50 that ended almost flat. The markets were
driven by the increasing retail participation in equity markets, both directly as well as through mutual fund schemes while foreign portfolio investors (FPIs) were net sellers
during the month. On the sectoral front, metals and information technology (IT) outperformed Nifty 50 while auto and energy counters underperformed Nifty 50.
Globally, the equity markets continue to remain in positive zone, with exception being China and Hong Kong. Optimism over economic recovery owning to vaccination
leading to normalisation of services activity in USA and Europe boosted the sentiments. Meanwhile, US Federal Reserve’s (Fed) in its July policy meeting maintained the
status quo citing current high inflation as being transitory and kept its policy guidance on rate hike in CY23 intact. Over and above the expansionary monetary policy by
Fed, the fiscal support by the US government also supported the economic recovery in the post covid world. Unemployment benefits and/or pay protection plan in USA
19
has helped majority American citizens get income support and maintain their living. The income support plan in USA is due for review and revision in September 2021
and the revised terms would be keenly monitored. Among other global indices, China and Hong Kong markets fell sharply in July 2021 as policy actions taken by Chinese
government on regulating education companies as well as newly listed company Didi pulled down the tech-platform companies.
In India’s context, we would monitor RBI’s policy action as inflation remains high and any move towards tightening can hurt economic recovery prospects. This was evident
in the past when monetary easing supported the mid and small cap segment in general while tightening hurt them. This is critical especially in the backdrop of a super-
normal rally in mid n small caps. From the covid lows in March 2020 as well as in past 1-year, Nifty Smallcap 100 Index rallied 212% and 110%, respectively, while Nifty
Midcap 100 Index ended up 153% and 80% as well. Considering the sharp rally amidst the delayed recovery due to covid, small cap and mid cap index as an aggregate
appear more expensive than the large cap indices like Nifty or Nifty 100.
On Covid front while vaccination drive remains a focus, there are early reports about emergence of delta variants of covid in western world. Clearly the hopes of economic
recovery and market sentiments are based on successful post-vaccination normalisation and not factoring third wave of covid.
Looking Ahead
While the monetary policy response on rate hike seems well communicated, the negative surprise can arise from tapering of the incremental liquidity by Fed. The fiscal
policy support in USA (direct payment and unemployment benefits) has achieved what years of easy monetary policy by Fed could not do, create inflation. Yes, there are
other factors like Chinese Yuan appreciation, supply disruption and commodity price that too contributed to inflation. But the demand generated by fiscal support has a
relevant role and hence policy decision on further continuation of unemployment benefits remains to be evaluated.
The earnings season for Q1FY22 has been good till now though the base effect makes any comparison with FY21 is not very relevant. FY22 as of now is likely to be a replay
of FY21 where economy normalised during Q3 festive season. Perhaps a fiscal policy support is needed to boost economy towards double digit growth.
While the power of asset allocation to equity in past 12-15 months has been seen, the power of market cycles in terms of capitalizations has crucial role to play. What
started as a large cap driven recovery in passed leadership baton to mid cap and then to small caps. The economic cycle of growth and corporate earnings, navigate across
market capitalization driven by policy actions on both fiscal and monetary front. We believe this re-emphasises the need to be flexible in choosing companies across market
capitalizations. Yes, there are clearly Risks (Uncertainty) in Markets and its relationship with expected Returns. Large Cap, Mid Cap and Small cap as a segment, play a critical
role in a portfolio construction for investors and they may always choose to manage it themselves or choose to entrust to mutual funds who have the flexible approach.
Investors with lumpsum investments style could have an asset allocation strategy (equity as a % of portfolio) to try and benefit from greed and fear phases. Alternately,
the strategy could be to really stick to longer term outlook rather than focusing on 1-2 years volatility. For investors with SIP investments such phases are not so relevant
20
as investor is still in accumulation phase for wealth creation over the 5-7 years. SIP may be a good alternate to avoid the behavioural traps during the extreme phases of
markets. We maintain that investors use SIP as part of core investment philosophy and use the lumpsum route during the extreme phases to top-up on their SIPs during the
fearful times amidst the volatility.
Source:Bloomberg
What should an investor do?
For investments in debt oriented products:
• We believe that the investors with a shorter investment horizon may continue investments in ultra-short term and low duration funds.
• For a medium to long term investment horizon and with a suitable risk appetite, an allocation to Short Term Fund and Dynamic Bond Fund merits attention.
For investments in equity oriented products:
• Our view is that volatility may continue and SIP may be a good way to increase equity market allocations
• Investors looking to invest for a medium to long period, can consider SIPs or STPs into focused, multicap or hybrid funds based on risk appetite.
• Investors looking for a better return opportunity and with a suitable risk appetite, may consider part allocation in mid cap fund as well.
21
PRODUCT BOUQUET
MAHINDRA MAHINDRA MAHINDRA MAHINDRA MAHINDRA MAHINDRA

DEBT MANULIFE
LIQUID FUND
MANULIFE LOW
DURATION FUND
MANULIFE
DYNAMIC BOND
MANULIFE
OVERNIGHT FUND
MANULIFE ULTRA MANULIFE SHORT
SHORT TERM TERM FUND
YOJANA FUND
MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE

HYBRID EQUITY SAVINGS DHAN HYBRID EQUITY ARBITRAGE YOJANA
SANCHAY YOJANA NIVESH YOJANA
MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE RURAL

ELSS KAR MID CAP MULTI CAP BHARAT AND
BACHAT YOJANA UNNATI YOJANA BADHAT YOJANA CONSUMPTION YOJANA
EQUITY MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE

LARGE CAP TOP 250 FOCUSED EQUITY FLEXI CAP YOJANA
PRAGATI YOJANA NIVESH YOJANA YOJANA
22
DEBT SCHEMES
23
FEATURES MAHINDRA MANULIFE
OVERNIGHT FUND
CONVENIENT 1 DAY INVESTMENTS An open ended debt scheme investing in
 By investing in Overnight Securities the scheme endeavours to generate relatively stable return overnight securities
 No exit load for any investment period

QUALITY PORTFOLIO Inception Date: July 23, 2019
Will invest in debt & money market instruments with

 Low risk  Low volatility
EASE OF REDEMPTION
 Redemption on T+1 basis under normal circumstances^
^ As per the SEBI (Mutual Funds) Regulations, 1996, the redemption or repurchase proceeds shall be dispatched within 10 working days from the
date of redemption or repurchase
ASSET ALLOCATION SCHEME POSITIONING

Under normal circumstances the asset allocation pattern will be: The scheme can invest in Debt and Money market
Asset Class Indicative Allocation Risk Profile instruments with a residual maturity of 1 business day:
(%of net assets)  Tri Party Repos (TREPS)  Repos/Reverse Repos  Treasury
bills (T-Bills)  Commercial Paper (CP)  Certificate of
Minimum Maximum Low/Medium/
High Deposits (CD)
Debt & money market

BENCHMARK
instruments maturing on or
before the next business day 0% 100% Low CRISIL Overnight Index
including TREPS (Tri-Party Repo)
and Reverse Repo)
FUND MANAGER
Mr. Rahul Pal
For detailed Asset Allocation and complete list of instruments where the Scheme shall invest, please refer to the SID of the Mr. Amit Garg
Scheme available on our website www.mahindramanulife.com or visit the nearest ISC.
Please see slide 41 for product labeling 24

PORTFOLIO OF THE MONTH MAHINDRA MANULIFE
OVERNIGHT FUND
Issuer % of Net Assets
TREPS 0.09
Reverse Repo 99.61
Net Receivables/(Payables) 0.30
CASH & OTHER RECEIVABLES 100.00
Grand Total 100.00
PORTFOLIO STATISTICS
ASSET ALLOCATION (%)
AUM (Rs. in Cr.) 52.42
Monthly AAUM (Rs. in Cr.) 93.08
Avg. Maturity (Day) 3.0

100 - Cash & Cash Equivalents*
Modified Duration 0.008
Yield to Maturity1 3.35%

Yield to maturity should not be construed as minimum return offered by the Scheme
1
as on July 31, 2021

*Cash & Cash Equivalents includes Fixed Deposits, Cash & Current Assets and TREPS

LIQUID FUND
 Low volatility: Relatively safer during times of high market volatility as liquid funds
(An open ended Liquid Scheme)
usually invest in Commercial Papers, Certificate of Deposits, CBLO/ Repos and in short
term debt instruments with maturity profile of not more than 91 days.
Inception Date: July 4, 2016
 Easy liquidity: Investors can invest in liquid funds even for a day.
 Cash Management Tool for treasuries of any size: Optimal utilization of idle cash for
cash management purposes.

Under normal circumstances the asset allocation pattern will be:
 High quality instruments
Asset Class Proportion  Tactical allocation to mark to market
Money Market instruments (including cash, repo, CPs, 50-100%  Focusing on liquidity of the portfolio
CDs, Treasury Bills and Government securities) with
maturity / residual maturity up to 91 days
BENCHMARK
Debt instruments (including floating rate debt 0-50% CRISIL Liquid Fund Index
instruments and securitized debt)* with maturity/
residual maturity up to 91 days FUND MANAGER
Mr. Rahul Pal
*securitized debt cumulative allocation not to exceed 30% of the net assets of the Scheme
Mr. Amit Garg
For complete details on asset allocation please refer SID available on www.mahindramanulife.com or visit your nearest
Investor Service Centre.

TOP 10 HOLDINGS MAHINDRA MANULIFE
LIQUID FUND
CURRENT MONTH PREVIOUS MONTH
JULY 31, 2021 JUNE 30, 2021
Security % to N.A. Security % to N.A.
91 Days Tbill (MD 23/09/2021) (SOV) 8.41% 91 Days Tbill (MD 23/09/2021) (SOV) 9.31%
NTPC Limited (CRISIL A1+ rated CP) 5.62% Hindustan Petroleum Corporation 6.24%
Limited (CRISIL A1+ rated CP)
91 Days Tbill (MD 26/08/2021) (SOV) 5.62% National Bank For Agriculture and Rural 6.23%
Development (ICRA A1+ rated CP)
Reliance Industries Limited (CRISIL A1+ 4.49% NTPC Limited (CRISIL A1+ rated CP) 6.22%
rated CP)
National Bank For Agriculture and Rural 4.21% 91 Days Tbill (MD 26/08/2021) (SOV) 6.22%
Development (ICRA A1+ rated CP)
Axis Bank Limited (ICRA A1+ rated CD) 3.94% Reliance Industries Limited (CRISIL A1+ 4.97%
rated CP)
LIC Housing Finance Limited (CRISIL AAA 2.82% Reliance Jio Infocomm Limited (CRISIL 3.12%
rated CB) A1+ rated CP)
HDFC Securities Limited (CRISIL A1+ 2.81% Aditya Birla Housing Finance Limited 3.12%
rated CP) (ICRA A1+ rated CP)
Housing Development Finance 2.81% 91 Days Tbill (MD 29/07/2021) (SOV) 3.12%
Corporation Limited (CRISIL A1+ rated
CP)
91 Days Tbill (MD 16/09/2021) (SOV) 2.81% Axis Bank Limited (ICRA A1+ rated CD) 3.11%
TOTAL 44% TOTAL 52%

PORTFOLIO UPDATE FOR THE MONTH MAHINDRA MANULIFE
LIQUID FUND
 We continue to maintain a healthy mix of certificate of deposits and commercial papers
 We will attempt to ensure adequate liquidity, safety and accrual
42.05 - Commercial Paper

34.35 - Cash & Cash Equivalents*
16.84 - Treasury Bill
3.94 - Certificate Of Deposit
2.82 - Corporate Bond
12 MONTH RATING PROFILE TREND (% to Net Assets) PORTFOLIO STATISTICS

100% 1,775.02
AUM (Rs. in Cr.)
80%
Monthly AAUM (Rs. in Cr.) 1,570.97
60%
Avg. Maturity (Days) 28.21
40%
20% Modified Duration 0.078
0% Yield to Maturity1 3.50%
1
Yield to maturity should not be construed as minimum return offered by
the Scheme
as on July 31, 2021

Sovereign AAA/AA+/A1+ AA and below rated Cash & Cash equivalents

 Investment in quality short duration instruments having relatively stable returns and
ULTRA SHORT
lower volatility TERM FUND
An open ended ultra-short term debt scheme
investing in instruments such that the Macaulay
 Selection of securities based on Risk Guard Process^ – An in-house Research and duration of the portfolio is between 3 to 6 months
Process Framework (please refer to page no. 31 of SID)
 Optimal risk management for providing better risk adjusted returns Inception Date: October 17, 2019
^ Refer SID for details
SCHEME POSITIONING
ASSET ALLOCATION Quality
Under normal circumstances the asset allocation pattern will be:  Look to deploy dominant part of the portfolio in AAA rated assets
Duration
 Target a portfolio duration of 3 -6 months
Asset Class Indicative Allocation Risk Profile
(%of net assets) Diversification
 Aim to minimize concentration risk by controlling sector and group exposures
Minimum Maximum Low/Medium/ Liquidity
High  Hold sizeable part of the portfolio in short tenor securities and other liquid
instruments
Debt* and Money Market  Laddered approach to liquidity
0% 100% Low to Medium Note: The actual portfolio positioning will be based on the prevailing market conditions and are subject to changes depending on the
Instruments Fund Managers view of the market.
Medium to High BENCHMARK

Units issued by REITs & InvITs 0% 100%
CRISIL Ultra Short Term Debt Index
*Includes securitized debt up to 30% of the net assets of the Scheme and structured obligations (such as corporate / promoter FUND MANAGER
guarantee, conditional and contingent liabilities, covenants, pledge and / or Non Disposal Undertaking of shares etc) upto 25%
of the net assets of the Scheme. Mr. Rahul Pal
For detailed asset allocation pattern, please refer SID/KIM of the Scheme available on our website www.mahindramanulife.com Mr. Amit Garg
or visit the nearest ISC.

ULTRA SHORT
JULY 31, 2021 JUNE 30, 2021 TERM FUND
Power Finance Corporation Limited 6.79% 182 Days Tbill (MD 18/11/2021) (SOV) 7.41%
(CRISIL AAA rated CB)
182 Days Tbill (MD 18/11/2021) (SOV) 6.53% Hindalco Industries Limited (CRISIL AA 5.20%
rated CB)
182 Days Tbill (MD 30/12/2021) (SOV) 6.51% National Bank For Agriculture and Rural 5.14%
Development (CRISIL AAA rated CB)
Hindalco Industries Limited (CRISIL 4.56% NTPC Limited (CRISIL AAA rated CB) 5.06%
AA+ rated CB)
National Bank For Agriculture and Rural 4.50% Housing Development Finance 5.05%
Development (CRISIL AAA rated CB) Corporation Limited (CRISIL AAA rated SIGNIFICANT PORTFOLIO
CB)
CHANGES OF THE CURRENT MONTH
Housing Development Finance 4.45% National Bank For Agriculture and Rural 4.99%
FRESH ADDITIONS COMPLETE EXITS
Corporation Limited (CRISIL AAA rated Development (ICRA A1+ rated CP)
CB) Security Security
NTPC Limited (CRISIL AAA rated CB) 4.44% Reliance Industries Limited (CRISIL A1+ 4.98% 6.92% MAHARASTRA SDL IIFL Wealth Prime Limited (CP)
rated CP) (MD 11/01/2022) (SOV)
Reliance Industries Limited (CRISIL A1+ 4.39% JM Financial Services Limited (CRISIL 4.96% 8.62% Gujarat SDL (MD 07/09/2021) Sundaram Home Finance Limited (CB)
rated CP) A1+ rated CP) (SOV)
JM Financial Services Limited (CRISIL 4.38% TATA Realty & Infrastructure Limited 4.96% 182 Days Tbill (MD 30/12/2021) (SOV)
A1+ rated CP) (CRISIL A1+ rated CP)
CP - Commercial Paper, CD - Certificate of Deposit, CB - Corporate Bond
TATA Realty & Infrastructure Limited 4.37% Axis Bank Limited (ICRA A1+ rated CD) 4.93% Note: The companies/stock(s) referred above are only for the purpose of disclosure of significant portfolio
(CRISIL A1+ rated CP) 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
TOTAL 51% TOTAL 53% requested to consult their financial, tax and other advisors before taking any investment decision(s).

ULTRA SHORT
 The average maturity of the portfolio is around 131 days
TERM FUND
 We will maintain the maturity as we move ahead through the next month
 The YTM of the portfolio is around 3.91 %. With surplus liquidity conditions
we expect the extreme short end money market rates to remain benign ASSET ALLOCATION (%)

12 MONTH RATING PROFILE TREND (% to Net Assets)
4.44 - State Government Bond
100%
80% PORTFOLIO STATISTICS
60%
AUM (Rs. in Cr.) 227.23
40%
20%
Avg. Maturity (Months) 4.36
0%
Macaulay Duration (Months) 4.20
as on July 31, 2021

1

LOW DURATION FUND
 Positioned between liquid funds and short-term funds with respect to the risk- An open ended low duration debt scheme investing
return matrix in instruments such that the Macaulay duration of
the Portfolio is between 6 months and 12 months
(Please refer page 31 of SID)
 Potentially better returns than that of liquid funds through strategic shifts in the
maturity profile Inception Date: Feb 15, 2017
 Lower volatility through relatively lower duration than short term funds
 Higher flexibility in asset allocation vis-à-vis liquid funds

Under normal circumstances the asset allocation pattern will be:
 Play accrual strategy
Asset Class Proportion  Limited duration play with tactical position
 Invest in good quality debt and money market
Money Market & Debt instruments* 0-100% instruments
Units issued by REITS and InvITs 0-10% BENCHMARK

CRISIL Low Duration Debt Index
*Includes securitized debt up to 30% of the net assets of the Scheme

FUND MANAGER
Investor Service Centre. Mr. Rahul Pal

LOW DURATION FUND
JULY 31, 2021 JUNE 30, 2021
Power Finance Corporation Limited 6.31% Small Industries Dev Bank of India 6.88%
(CRISIL AAA rated CB) (CRISIL A1+ rated CD)
Axis Bank Limited (ICRA A1+ rated CD) 5.43% Axis Bank Limited (ICRA A1+ rated CD) 5.62%
REC Limited (CRISIL AAA rated CB) 4.21% Power Finance Corporation Limited 4.61%
8.08% GOI (MD 02/08/2022) (SOV) 3.57% REC Limited (CRISIL AAA rated CB) 4.36%
Manappuram Finance Limited 3.48% Manappuram Finance Limited 3.63%

(CRISIL AA rated CB) (CRISIL AA rated CB)
Housing Development Finance 3.46% National Bank For Agriculture and Rural 3.60% SIGNIFICANT PORTFOLIO
Corporation Limited Development
(CRISIL AAA rated CB) (ICRA AAA/CRISIL AAA rated CB) CHANGES OF THE CURRENT MONTH
364 Days Tbill (MD 05/08/2021) (SOV) 3.43% Housing Development Finance 3.59% FRESH ADDITIONS COMPLETE EXITS
Corporation Limited Security Security
The Ramco Cements Limited (CP) IIFL Wealth Prime Limited (CP)
The Ramco Cements Limited 3.41% IIFL Wealth Prime Limited 3.56%
JM Financial Products Limited (CP) Sundaram Home Finance Limited (CB)
(ICRA A1+ rated CP) (CRISIL A1+ rated CP)
8.08% GOI (MD 02/08/2022) (SOV) Nayara Energy Limited (CB)
JM Financial Products Limited 3.40% 364 Days Tbill (MD 29/07/2021) (SOV) 3.56%
(CRISIL A1+ rated CP) 4.48% GOI (MD 02/11/2023) (SOV) 364 Days Tbill (MD 29/07/2021) (SOV)
182 Days Tbill (MD 25/11/2021) (SOV) 3.39% 364 Days Tbill (MD 05/08/2021) (SOV) 3.56% 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
TOTAL 40% TOTAL 43% 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).

 The average maturity is around 257 days
LOW DURATION FUND
 The Yield to maturity (YTM) of the portfolio marginally increased to around 4.22%
 We may marginally increase maturity as we move ahead
12 MONTH RATING PROFILE TREND (% to Net Assets) ASSET ALLOCATION (%)
100% 29.08 - Corporate Bond

80% 18.66 - Commercial Paper
60%
40%
20% 15.49 - Certificate Of Deposit
0% 10.89 - Treasury Bill
7.81 - Government Bond

IDCW HISTORY PORTFOLIO STATISTICS

Record Date Plan(s) Option(s) Individuals/HUF Others Face Value Cum-IDCW 728.76
(Dividend) (IDCW) NAV
AUM (Rs. in Cr.)
(Rs. per unit) (Rs. per unit) (Rs. per unit) (Rs. per unit) Monthly AAUM (Rs. in Cr.) 716.82
27-May-21 Monthly Regular IDCW 3.8449 3.8449 1000 1116.5302 257.37
Avg. Maturity (Days)
27-May-21 Monthly Direct IDCW 4.6522 4.6522 1000 1136.7872
28-Jun-21 Monthly Regular IDCW 2.0944 2.0944 1000 1117.5113 Modified Duration 0.64
28-Jun-21 Monthly Direct IDCW 2.9459 2.9459 1000 1137.8553
7.92
as on July 31, 2021

28-Jul-21 Monthly Regular IDCW 4.0972 4.0972 1000 1116.6393
Macaulay Duration (Months)
28-Jul-21 Monthly Direct IDCW 4.9415 4.9415 1000 1136.8712 Yield to Maturity1 4.22%
Pursuant to payment of IDCW, the NAV of the IDCW Option(s) of the Scheme/Plan(s) falls to the extent of payout and statutory
levy, if any. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other Yield to maturity should not be construed as minimum return offered by the Scheme
1
investments. For complete list of IDCWs, visit www.mahindramanulife.com.

SHORT TERM FUND
 Aims to invest in quality instruments of predominantly high safety An open ended short term debt scheme
investment grade investing in instruments such that the
Macaulay duration of the portfolio is
 Selection of securities based on Risk Guard Process – An in-house between 1 year and 3 years
(please refer to page no. 35 of SID)
Research and Process Framework
Inception Date: February 23, 2021
ASSET ALLOCATION
Under normal circumstances the asset allocation pattern will be: SCHEME POSITIONING
Asset Class Indicative Allocation Risk Profile Quality
(%of net assets) Q
• Look to deploy dominant part of the portfolio in
Minimum Maximum Low/ high quality securities
Medium/
High D Duration
• Target a portfolio duration of 1 – 3 years
Debt* and Money Market Low to
0% 100%
Instruments Medium D Diversification
• Aim to minimize concentration risk by continuously
Medium to
Units issued by REITs & InvITs 0% 100% monitoring sector and group exposures
High
Liquidity
*Includes securitized debt (excluding foreign securitized debt) and debt instruments having structured L
obligations/ credit enhancements (such as corporate / promoter guarantee, conditional and contingent
liabilities, covenants, pledge and / or Non Disposal Undertaking of shares etc) upto 35% of the net assets
• Laddered approach to liquidity
of the Scheme.
Note: For detailed asset allocation pattern, please refer SID/KIM of the Scheme available on our website BENCHMARK
www.mahindramanulife.com or visit the nearest ISC.
CRISIL Short Term Bond Fund Index
For detailed Asset Allocation and complete list of instruments where the Scheme shall invest, please refer to the FUND MANAGER
SID of the Scheme available on our website www.mahindramanulife.com or visit the nearest ISC.
 Mr. Rahul Pal  Mr. Kush Sonigara
(Dedicated Fund Manager for overseas Investment)
SHORT TERM FUND
JULY 31, 2021 JUNE 30, 2021
Power Finance Corporation Limited 7.47% 5.63% GOI (MD 12/04/2026) (SOV) 9.15%
5.63% GOI (MD 12/04/2026) (SOV) 6.93% 5.22% GOI (MD 15/06/2025) (SOV) 6.79%
5.22% GOI (MD 15/06/2025) (SOV) 6.91% 8.21% Maharastra SDL (MD 5.00%
09/12/2025) (SOV)
8.21% Maharastra SDL (MD 5.05% 8.2% Gujarat SDL (MD 24/06/2025) 4.98%
09/12/2025) (SOV) (SOV)
8.2% Gujarat SDL (MD 24/06/2025) 5.04% REC Limited (CRISIL AAA rated CB) 4.72%
(SOV)
REC Limited 4.78% Cholamandalam Investment and Finance 4.71%

(CRISIL AAA rated CB) Company Limited (ICRA AA+ rated CB)
Cholamandalam Investment and 4.77% Manappuram Finance Limited 4.69%

Finance Company Limited (CRISIL AA rated CB)
(ICRA AA+ rated CB) SIGNIFICANT PORTFOLIO
Manappuram Finance Limited 4.73% National Bank For Agriculture and Rural 4.62%
(CRISIL AA rated CB) Development (ICRA AAA rated CB)
National Bank For Agriculture and Rural 4.69% Housing Development Finance 4.61% Security Security
Development (ICRA AAA rated CB) Corporation Limited (CRISIL AAA
rated CB) No Fresh Additions 364 Days Tbill (MD 08/07/2021) (SOV)
Housing Development Finance 4.69% Tata Capital Housing Finance Limited 4.59% CP - Commercial Paper, CD - Certificate of Deposit, CB - Corporate Bond
Corporation Limited (CRISIL AAA rated CB) Note: The companies/stock(s) referred above are only for the purpose of disclosure of significant portfolio
(CRISIL AAA rated CB) 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
TOTAL 55% TOTAL 54%
36
 The YTM of the portfolio is around 5.08 %
SHORT TERM FUND
 The Modified duration of the portfolio increased to 1.83
 Our portfolio continues to have a large allocation towards gilts as we are wary
of the spreads increasing in AAA credits
SINCE INCEPTION RATING PROFILE TREND (% to Net Assets) PORTFOLIO STATISTICS

120.00%
AUM (Rs. in Cr.) 215.42
100.00%
80.00%
Avg. Maturity (Month) 26.10
60.00%
40.00%
20.00%
1
0.00%
Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
as on July 31, 2021


DYNAMIC BOND YOJANA
 Optimum balance of safety, liquidity and yield An open ended dynamic debt scheme
investing across duration
 Diversification of portfolio for investors with moderate risk appetite
 Alternate to traditional investment options and has potential to deliver
Inception Date: Aug 20, 2018
better risk adjusted returns
 Indexation benefits for Long Term Capital Gains Taxes*
* If the units are held for more than 36 months
Investors are advised to consult their financial/tax advisors before investing
SCHEME POSITIONING
 Predominantly invest in AA & below rated papers with
ASSET ALLOCATION higher accruals
Under normal circumstances the asset allocation pattern will be:  Play the rating change expectation
Asset Class Proportion  Potential for capital appreciation in case of reduction in
interest rates
AA^ and below rated Corporate Bonds 65-100%  Diversified across sectors with an endeavor to invest
substantial proportion into debt of listed entities (or
Debt* and Money Market Instruments 0-35% listed parent)
Units issued by REITs & InvITs 0-10% BENCHMARK

CRISIL Composite Bond Fund Index
^ Excluding AA+ rated Corporate Bonds. *Includes securitized debt up to 30% of the net assets of the Scheme. FUND MANAGER
Investor Service Centre. Mr. Rahul Pal

DYNAMIC BOND YOJANA
JULY 31, 2021 JUNE 30, 2021
8.21% Maharastra SDL (MD 09/12/2025) 8.21% Maharastra SDL (MD 09/12/2025)
8.93% 8.86%
(SOV) (SOV)
JM Financial Asset Reconstruction JM Financial Asset Reconstruction

5.49% 5.40%
Company Limited (ICRA AA- rated CB) Company Limited (ICRA AA- rated CB)
REC Limited (CRISIL AAA rated CB) 4.41% REC Limited (CRISIL AAA rated CB) 4.36% SIGNIFICANT PORTFOLIO
Housing Development Finance Housing Development Finance CHANGES OF THE CURRENT MONTH
Corporation Limited 4.18% Corporation Limited 4.12%
(CRISIL AAA rated CB) (CRISIL AAA rated CB) FRESH ADDITIONS COMPLETE EXITS
Security Security
Manappuram Finance Limited Manappuram Finance Limited
4.14% 4.12% 6.1% GOI (MD 12/07/2031)(SOV) Nayara Energy Limited (CB)
(CRISIL AA rated CB) (CRISIL AA rated CB)
6.95% Gujarat SDL (MD 14/07/2031)
National Bank For Agriculture and Rural National Bank For Agriculture and Rural 5.85% GOI (MD 01/12/2030) (SOV)
4.12% 4.09% (SOV)
Development (ICRA AAA rated CB) Development (ICRA AAA rated CB)
364 Days Tbill (MD 08/07/2021) (SOV)
6.95% Gujarat SDL (MD 14/07/2031) Nayara Energy Limited CP - Commercial Paper, CD - Certificate of Deposit, CB - Corporate Bond
4.11% 4.07%
(SOV) (CARE AA rated CB)
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.
TOTAL 66% TOTAL 75% 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).

 The YTM of the portfolio has decreased to around 5.57 %.
DYNAMIC BOND YOJANA
 The Modified Duration of the portfolio (MD) decreased to around 3.35
 While we have decreased the duration of our portfolio, we intend now to remain steady at these levels.
We are likely to continue with the non AAA credits carrying near term maturities in our portfolio till
maturities and consider replacing them preferably with high quality debt instruments.

12 MONTH RATING PROFILE TREND (% to Net Assets)
100%
80% 27.13 - Corporate Bond
60% 23.23 - Cash & Cash Equivalents*

40%
20%
0%
*Cash & Cash Equivalents
includes Fixed Deposits, Cash
& Current Assets and TREPS
IDCW HISTORY
AUM (Rs. in Cr.) 121.83
Record Plan(s) Option(s) Individuals/HUF (IDCW) Others (IDCW) Face Value Cum-IDCW NAV
Date (Rs. per unit) (Rs. per unit) (Rs. per unit) (Rs. per unit) Monthly AAUM (Rs. in Cr.) 122.35
18-Dec-20 Quarterly Regular IDCW 0.1500 0.1500 10 10.9332 4.54
Avg. Maturity (Years)
18-Dec-20 Quarterly Direct IDCW 0.1500 0.1500 10 10.7924
19-Mar-21 Quarterly Regular IDCW 0.1500 0.1500 10 10.3743 Modified Duration 3.35
19-Mar-21 Quarterly Direct IDCW 0.1500 0.1500 10 10.6979 3.46
Macaulay Duration (Years)
18-Jun-21 Quarterly Regular IDCW 0.1200 0.1200 10 10.3554
18-Jun-21 Quarterly Direct IDCW 0.1200 0.1200 10 10.7120 Yield to Maturity1 5.57%
as on July 31, 2021

Pursuant to payment of dividend, the NAV of the Dividend Option(s) of the Scheme/Plan(s) falls to the extent of payout and statutory levy, if any.
Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. For Yield to maturity should not be construed as minimum return offered by the Scheme
1
complete list of dividends, visit www.mahindramanulife.com.

Schemes This product is suitable for Investors who are seeking*: Riskometer
Mahindra Manulife • To generate reasonable returns with high levels of safety and convenience of liquidity over
Overnight Fund short term Moderate Moderately
High
• To invest in debt and money market instruments having maturity of upto 1 business day
od to
e
at
Hi
M ow
er
gh
L
Low
Very
High
RISKOMETER
Investors understand that their principal
will be at low risk
Mahindra Manulife • Regular income over short term Moderate Moderately

Liquid Fund • Investment in money market and debt instruments
High
od to
e
at
Hi
M ow
er
gh
L
Low
Very
High
RISKOMETER
Investors understand that their principal will be
at low to moderate risk
Mahindra Manulife • Income over short to medium term

Short Term Fund • Investment in debt and money market instruments Moderate Moderately
High
od to
e
• Regular income over short term
at
Hi
M ow
er
Mahindra Manulife
gh
L
Ultra Short Term Fund • Investment in a portfolio of short term debt and money market instruments
Low
Very
High
RISKOMETER
Mahindra Manulife Low • Regular income over short term Investors understand that their principal
will be at moderate risk
Duration Fund • Investment in debt and money market instruments
Mahindra Manulife • To generate regular returns and capital appreciation through active management of portfolio
Moderate Moderately
Dynamic Bond Yojana • Investments in debt & money market instruments across duration High
od to
e
at
Hi
M ow
er
gh
L
Low
Very
High
RISKOMETER
will be at moderate risk
* Investors should consult their financial advisers if in doubt about whether the product is suitable for them
41
EQUITY SCHEMES
42
MULTI CAP BADHAT
 Prudent portfolio of investments across companies and sectors YOJANA
(Multi Cap Fund- An open ended
 Actively managed by professional fund managers for potential long term capital equity scheme investing across large cap,
appreciation mid cap, small cap stocks)
 Opportunity to participate in successful businesses through equity market

Inception Date: May 11, 2017

Under normal circumstances the asset allocation pattern will be:  A well-diversified portfolio of companies having
Instruments Indicative Allocation Risk Profile demonstrated industry leadership and scalability leading
(% of assets)
to high earnings growth potential
Minimum Maximum High/Medium/
Low  The portfolio will tap into emerging growth opportunities
Equity and Equity related Securities^ of which 75 100 High
from across sectors stemming from under penetration,
structural market share shifts and technology driven
(i) Large Cap Companies* 25 50 High
changes.
(ii) Mid Cap Companies** 25 50 High
(iii) Small Cap Companies*** 25 50 High
Debt and Money Market Securities^ (including TREPS, 0 25 Low to Medium
BENCHMARK
Reverse Repo and units of liquid mutual fund schemes) Nifty 500 Multicap 50:25:25 TRI Index#
^ including derivative instruments to the extent of 50% of the Net Assets of the Scheme. Investment in derivatives shall be for hedging,
portfolio balancing and such other purposes as maybe permitted from time to time under the Regulations and subject to guidelines issued
by SEBI/RBI from time to time. FUND MANAGER
*Definition of Large Cap Companies: 1st – 100th company in terms of full Market Capitalization. Mr. Manish Lodha
**Definition of Mid Cap Companies: 101st – 250th company in terms of full Market Capitalization.
***Definition of Small Cap Companies: 251st company onwards in terms of full Market Capitalization.
Ms. Fatema Pacha
For complete details on asset allocation please refer SID available on www.mahindramanulife.com or visit your nearest Investor Service Centre.

MULTI CAP BADHAT
JULY 31, 2021 JUNE 30, 2021 YOJANA
Infosys Limited 5.67% Infosys Limited 6.28%

Category: Multi Cap Scheme
INVESTMENT STYLE BOX
State Bank of India 5.00% State Bank of India 4.60% Large
ICICI Bank Limited 4.84% ICICI Bank Limited 4.39%

Mid
Bajaj Finance Limited 2.87% Reliance Industries Limited 2.54%

Small
Sun Pharmaceutical Industries Limited 2.48% Sun Pharmaceutical Industries Limited 2.44%
Value Blend Growth
MindTree Limited 2.45% Bajaj Finance Limited 2.40%
Larsen & Toubro Limited 2.42% Tata Power Company Limited 2.34% SIGNIFICANT PORTFOLIO
Tech Mahindra Limited 2.26% Birlasoft Limited 2.33%
Security Security
Steel Authority of India Limited 2.20% Tech Mahindra Limited 2.31%
Bharti Airtel Ltd. IndusInd Bank Ltd.
Reliance Industries Limited 2.17% Atul Limited 2.17% Natco Pharma Ltd. KEC International Ltd.
Nocil Ltd.
Top 10 Holdings 32% Top 10 Holdings 32%
Zensar Technologies Ltd.
Note: The companies/stock(s) referred above are only for the purpose of disclosure of significant portfolio changes
Top 20 Holdings 50% Top 20 Holdings 51% 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).

 The scheme is currently positioned to aim to tap a possible capex recovery, widening of the
MULTI CAP BADHAT
consumption basket and reduction in corporate asset quality challenges YOJANA
 Key Overweight sectors/industries include Paper and Jute, Telecom, Cement & Cement Products,
Industrial Manufacturing and Pharma vs the scheme’s benchmark
 Key Underweight sectors/industries include Services, Oil and Gas, Consumer Goods and Metals vs the
scheme’s benchmark
12 MONTH MARKET CAPITALIZATION TREND

(% to Equity Holdings)
4% 4%
8% 9%
18% 14% 21% 26% 29% 29% 29% 28% 29% 28%
21% 22%
24%
28% 30% 27%
29% 29% 28% 28%
78% 82%
72% 69%
55%
47% 41% 42% 43% 42% 42% 44%
Aug-20
Nov-20
Dec-20
Sep-20
Jun-21
Feb-21
May-21
Apr-21
Jan-21
Oct-20
Mar-21
Jul-21
Large Cap Mid Cap Small Cap
As per the Market Capitalisation data provided by AMFI (In line with the applicable SEBI guidelines)
IDCW HISTORY PORTFOLIO STATISTICS

Record Date Plan(s) Option(s) IDCW Face Value Cum-IDCW NAV
AUM (Rs. in Cr.) 673.51
(Rs. per unit) (Rs. per unit) (Rs. per unit)
22-Jan-21 Regular Dividend 0.8000 10 13.9793 Beta1 0.85
as on July 31, 2021

22-Jan-21 Direct Dividend 0.8000 10 15.0753 Alpha2 0.60
Pursuant to payment of IDCW, the NAV of the IDCW Option(s) of the Scheme/Plan(s) falls to the extent of
1. Beta is calculated on the basis of average monthly rolling returns as of last day of the month since
payout and statutory levy, if any. Past performance may or may not be sustained in future and should not be
inception till July 30, 2021 and annualized. 2. Calculated for the period since inception till July 30, 2021.
used as a basis for comparison with other investments. For complete list of IDCWs, visit www.mahindramanulife.
| Data Source: ICRA, Bloomberg | Data as on July 31, 2021 | N.A.: Net Assets
com.

LARGE CAP PRAGATI
 Agile quality portfolio with a select few from India’s Big 100* YOJANA
Large Cap Fund - An open ended
 Exposure to the more stable half of the market equity scheme predominantly investing
in large cap stocks
 High conviction bottom up stock picking with a focus on alpha generation
Inception Date: March 15, 2019
*In terms of Full Market Capitalisation.

Under normal circumstances the asset allocation pattern will be:  A concentrated portfolio of market leaders and established
businesses.
Asset Class Proportion
 A portfolio with measured exposure in other market caps
Equity and Equity related Securities of
Large Cap for possible alpha generation.
80-100%
companies^*
Equity and Equity Related instruments

of other
0-20%
companies^
Debt and Money Market Securities^ (including CBLO,

0-20% BENCHMARK
Reverse Repo)
Nifty 50 Index TRI
Units issued by REITs & InvITs 0-10%
FUND MANAGER
*Definition of Large Cap Companies:1st – 100th company in terms of full Market Capitalization. For the purpose of this
definition, the list of stocks prepared by AMFI in this regard will be adopted. încluding derivative instruments to the Mr. V Balasubramanian
extent of 50% of the Net Assets of the Scheme. For detailed asset allocation refer SID of the Scheme available at www. Ms. Fatema Pacha
mahindramanulife.com or visit nearest Investor Service Centre.

LARGE CAP PRAGATI
Category: Large Cap Scheme
ICICI Bank Limited 8.97% Infosys Limited 8.77% INVESTMENT STYLE BOX
Infosys Limited 8.86% ICICI Bank Limited 8.37% Large
Reliance Industries Limited 7.41% Reliance Industries Limited 7.75%

Mid
State Bank of India 7.34% State Bank of India 7.19%

Small
HDFC Bank Limited 5.54% HDFC Bank Limited 5.87%

Value Blend Growth
Housing Development Finance 5.33% Housing Development Finance 5.46%

Corporation Limited Corporation Limited SIGNIFICANT PORTFOLIO
Grasim Industries Limited 4.77% Grasim Industries Limited 4.65%
Bharti Airtel Limited 4.09% Bharti Airtel Limited 3.86%
Security Security
Wipro Limited 3.80% Wipro Limited 3.56% No Fresh Additions IndusInd Bank Ltd.
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.
UltraTech Cement Limited 3.08% Tata Consultancy Services Limited 3.28% The fund manager may or may not choose to hold these companies/stocks, from time to time. Investors are

LARGE CAP PRAGATI
 The portfolio currently has around 32 stocks and aims to tap potential upward
movement in consumption trend and a capex recovery YOJANA
 Key Overweight sectors/industries include Cement & Cement Products, Telecom,
Insurance and Power vs the scheme’s benchmark
 Key Underweight sectors/industries include Consumer Goods, Metals and Pharma

vs the scheme’s benchmark
12 MONTH MARKET CAPITALIZATION TREND PORTFOLIO STATISTICS

AUM (Rs. in Cr.) 123.59
1% 3% 2%
3% 3% 3% Beta 1
0.92
5% 4% 4%
8% 7%
8% Alpha2 0.13
1. Beta is calculated on the basis of average monthly rolling returns as of last day of the
99% 97% 98%
97% 97% 97% month since inception till July 30, 2021 and annualized. 2. Calculated for the period
95% 96% 96%
93% since inception till July 30, 2021. | Data Source: ICRA, Bloomberg | Data as on July 31,
92% 92% 2021 | N.A.: Net Assets
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
as on July 31, 2021

Large Cap Mid Cap

MID CAP
 Indian economy’s growth potential UNNATI YOJANA
(Mid Cap Fund - An open ended
 Potential to generate higher risk adjusted returns in the long term equity scheme predominantly investing
in mid cap stocks)
 Selection of focused sustainable businesses across sectors
 Actively managed portfolio with primary investments in mid-caps Inception Date: January 30, 2018

Under normal circumstances the asset allocation pattern will be:  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.
Equity and Equity related Securities of Mid Cap  A portfolio of companies with high growth potential and
65-100%
Companies^ a robust balance sheet to support such growth.
Equity and Equity related Securities of Non-Mid Cap
0-35%
Companies^
Debt and Money Market Securities^ (including CBLO, BENCHMARK

0-35%
Reverse Repo and units of liquid mutual fund schemes) S&P BSE Mid Cap Index TRI
Units issued by REITs and InVITs 0-10% FUND MANAGER
Încludes derivatives up to 50% of the net assets of the Scheme. Mr. V Balasubramanian
Investor Service Centre.
Mr. Manish Lodha

MID CAP
JULY 31, 2021 JUNE 30, 2021 UNNATI YOJANA
Max Financial Services Limited 3.17% Max Financial Services Limited 3.18%
Category: Mid Cap Scheme
Atul Limited 2.84% CRISIL Limited 3.05%
Large
Century Textiles & Industries Limited 2.75% Atul Limited 2.99%
Mid
The Federal Bank Limited 2.75% The Federal Bank Limited 2.90%
CRISIL Limited 2.70% Honeywell Automation India Limited 2.79% Small
Value Blend Growth

Deepak Nitrite Limited 2.69% Tata Power Company Limited 2.61%
Dalmia Bharat Limited 2.69% Supreme Industries Limited 2.60%
Honeywell Automation India Limited 2.69% Deepak Nitrite Limited 2.53%
Tata Power Company Limited 2.51% Dalmia Bharat Limited 2.52%

SIGNIFICANT PORTFOLIO C
HANGES OF THE CURRENT MONTH
Supreme Industries Limited 2.38% Fortis Healthcare Limited 2.27% FRESH ADDITIONS COMPLETE EXITS
Security Security
Top 10 Holdings 27% Top 10 Holdings 27% Jindal Steel and Power Ltd. Apollo Hospitals Enterprise Ltd.
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
Top 20 Holdings 48% Top 20 Holdings 48% 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).

MID CAP
 Key Overweight sectors/industries include Industrial Manufacturing,
Cement & Cement Products, Insurance, Fertilisers & Pesticides and UNNATI YOJANA
Construction vs the scheme’s benchmark
 Key Underweight sectors/industries include Pharma, Consumer

Goods and Services and Power vs the scheme’s benchmark
 Outside of mid cap stocks, the portfolio predominantly holds small

cap stocks.

(% to Equity Holdings) PORTFOLIO STATISTICS
4% 7% 7% AUM (Rs. in Cr.) 795.69
8% 10% 12% 14% 18% 20% 22% 21% 21% Beta1 0.79
Alpha2 0.63
77% 78% 80% 86% 84% 1. Beta is calculated on the basis of average monthly rolling returns as of last day of the
82% 80% 78% 70%
77% 75% 77% month since inception till July 30, 2021 and annualized. 2. Calculated for the period
since inception till July 30, 2021. | Data Source: ICRA, Bloomberg | Data as on July 31,
2021 | N.A.: Net Assets
19% 14% 12% 7% 6% 6% 5% 4% 3% 4% 2% 9%
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
as on July 31, 2021


ELSS KAR BACHAT
 Potential Capital Appreciation: Scheme invests in a diversified equity portfolio thereby offering YOJANA
the investor, possibility of growing their investments. (An open ended equity linked saving
scheme with a statutory lock in of
 Tax Benefit: Investments in this scheme are entitled for tax deduction under section 80C. Possibility 3 years and tax benefit)
of saving upto Rs. 51,480/-*.
 Lock-in Feature: This feature endeavors to protect your investments from impact of short term Inception Date: October 18, 2016
market volatility. Lock-in of only 3 years! Other traditional tax savings options may have longer
holding periods.
*Assuming investor uses the entire Rs 1.50 lac limit available under section 80C of the Income Tax Act 1961 for investing in Mahindra
Mutual Fund Kar Bachat Yojana. The tax benefit is calculated on the basis of current applicable tax rate (ignoring marginal relief on
surcharge, if any) for net taxable income between Rs 50 lacs and Rs 1 crore. Please consult your financial / tax advisor before investing.

Under normal circumstances the asset allocation pattern will be:  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.
Equity and Equity related Securities* 80-100%
Debt and Money Market Securities (including CBLO BENCHMARK

0-20%
and Reverse Repo)
Nifty 200 Index TRI
*Equity related Securities shall mean equities, cumulative convertible preference shares and fully Convertible debentures and bonds
of companies. Investment may also be made in partly convertible issues of debentures and bonds including those issued on rights
basis subject to the condition that, as far as possible, the non-convertible portion of the debentures so acquired or subscribed, shall FUND MANAGER
be disinvested within a period of 12 (twelve) months.
For complete details on asset allocation please refer SID available on www.mahindramanulife.com or visit your nearest Investor
Ms. Fatema Pacha
Service Centre. Mr. Manish Lodha
ELSS KAR BACHAT
Security % to N.A. Security % to N.A. Category: ELSS
ICICI Bank Limited 8.25% Infosys Limited 8.26%
Large
Infosys Limited 8.21% Reliance Industries Limited 7.31%

Mid
Reliance Industries Limited 6.88% HDFC Bank Limited 7.28%
Small
HDFC Bank Limited 6.77% ICICI Bank Limited 6.50%
Value Blend Growth
Tata Consultancy Services Limited 4.78% Tata Consultancy Services Limited 4.65%
Hindustan Unilever Limited 3.72% Hindustan Unilever Limited 4.04%
Kotak Mahindra Bank Limited 3.56% Kotak Mahindra Bank Limited 3.76%
Larsen & Toubro Limited 3.19% State Bank of India 2.33%
SIGNIFICANT PORTFOLIO
HCL Technologies Limited 2.10% HCL Technologies Limited 2.06%
State Bank of India 2.01% Axis Bank Limited 2.06% FRESH ADDITIONS COMPLETE EXITS
Security Security
Top 10 Holdings 49% Top 10 Holdings 48% MRF Ltd. APL Apollo Tubes Ltd
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
Top 20 Holdings 66% Top 20 Holdings 65% 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).

ELSS KAR BACHAT
 The portfolio currently has a large cap bias and will look to tap potential upward movement led by recovery
YOJANA
 Key Overweight sectors/industries include Industrial Manufacturing, Fertilisers & Pesticides, Chemicals, and Pharma vs the
 Key Underweight sectors/industries include Finance, Consumer goods, Metals and Power vs the scheme’s benchmark

6% 6% 3%
6% 9% 9% 10% 9% 9% 11% 12% 11%
12%
20% 19% 17% 17% 15% 15% 14% 14% 14% 16%
14%
84% 76% 78% 77%

74% 75% 74% 75% 76% 76% 74% 74%
May-21
Aug-20
Nov-20
Dec-20
Mar-21
Sep-20
Feb-21
Apr-21
Oct-20
Jun-21
Jan-21
Large Cap Mid Cap Small Cap Jul-21
IDCW HISTORY
Record Date Plan(s) Option(s) IDCW Face Value Cum-IDCW NAV PORTFOLIO STATISTICS
AUM (Rs. in Cr.) 393.34
10-Nov-17 Regular IDCW 1.0000 10 12.1838
10-Nov-17 Direct IDCW 1.0000 10 12.4808 Beta1 0.93
as on July 31, 2021

26-Feb-21 Regular IDCW 0.8000 10 13.4169 Alpha 2 0.24
26-Feb-21 Direct IDCW 0.8000 10 14.6365
Pursuant to payment of IDCW, the NAV of the IDCW Option(s) of the Scheme/Plan(s) falls to the extent of payout and month since inception till July 30, 2021 and annualized. 2. Calculated for the period
statutory levy, if any. Past performance may or may not be sustained in future and should not be used as a basis for since inception till July 30, 2021. | Data Source: ICRA, Bloomberg | Data as on July 31,
comparison with other investments. For complete list of IDCWs, visit www.mahindramanulife.com. 2021 | N.A.: Net Assets

RURAL BHARAT AND
 Invests in segments with strongest contribution potential to India’s CONSUMPTION YOJANA
growing GDP (An open ended equity scheme
following Rural India theme)
 Focuses on segments largely insulated from global volatility
 Captures under-penetration opportunities in rural India Inception Date: November 13, 2018

Under normal circumstances the asset allocation pattern will be:  A rural themed portfolio consisting mostly of quality
companies that can benefit from rural transformation.
 A portfolio of companies with strong market dominance
Equity and Equity Related Instruments of entities having that can participate in the rural growth would form part of
80-100%
exposure towards rural India^ the portfolio.
Equity and Equity Related Instruments of entities other
0-20%
than having exposure to rural India^
Debt and Money Market Securities (including
CBLO,
Reverse Repo)
0-20% BENCHMARK
Nifty 200 Index TRI
Units issued by REITs & InvITs 0-10%
Încludes derivatives up to 50% of the net assets of the Scheme. FUND MANAGER
Investor Service Centre. Mr. V Balasubramanian
Ms. Fatema Pacha

RURAL BHARAT AND
JULY 31, 2021 JUNE 30, 2021 CONSUMPTION YOJANA
Category: THEMATIC
Large
ICICI Bank Limited 7.40% ICICI Bank Limited 6.75%
Mid
ITC Limited 4.83% HDFC Bank Limited 4.46%
Small
HDFC Bank Limited 4.30% Hindustan Unilever Limited 4.14%
Value Blend Growth

Bharti Airtel Limited 4.24% The Federal Bank Limited 4.05%
The Federal Bank Limited 4.12% Bharti Airtel Limited 3.91%

Hindustan Unilever Limited 3.96% Bayer Cropscience Limited 3.77% CHANGES OF THE CURRENT MONTH
Bayer Cropscience Limited 3.81% Balrampur Chini Mills Limited 3.31% FRESH ADDITIONS COMPLETE EXITS
Security Security
Balrampur Chini Mills Limited 3.59% Swaraj Engines Limited 3.27% IDFC Ltd.
IndusInd Bank Ltd.
Ambuja Cements Limited 3.10% Rallis India Limited 3.02% No Fresh Additions
Reliance Industries Ltd.
Top 10 Holdings 47% Top 10 Holdings 44% Tata Motors Ltd.

Top 20 Holdings 73% Top 20 Holdings 70% fund manager may or may not choose to hold these companies/stocks, from time to time. Investors are

RURAL BHARAT AND
 The portfolio currently has 33 stocks and aims to benefit from increase in rural
consumption, infrastructure and lending. CONSUMPTION YOJANA
 Key Overweight sectors/industries include Fertilizers & Pesticides, Telecom,
Consumer Goods, Cement & Cement Products and Industrial Manufacturing
vs the scheme’s benchmark
 Key Underweight sectors/industries include Finance, Pharma, IT and

Chemicals vs the scheme’s benchmark

12% AUM (Rs. in Cr.) 53.04
15% 14% 14% 13% 15% 13% 14% 14% 15% 13% 14%
14% 12% 12% 14% 16% Beta1 0.91
17% 19% 19% 23% 19% 14% 15%
Alpha2 -0.19
month since inception till July 30, 2021 and annualized. 2. Calculated for the period
68% 68% 68% 66% 73% 74% 74% 70% 74% 71% 73% since inception till July 30, 2021. | Data Source: ICRA, Bloomberg | Data as on July 31,
64% 2021 | N.A.: Net Assets
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
as on July 31, 2021


TOP 250 NIVESH
 Rule based diversification for optimum performance in changing YOJANA
market cycles Large & Mid Cap Fund - An open ended equity
scheme investing in both large cap and
 Aim to provide stability of large caps and growth of mid caps mid cap stocks
 Active stock selection through internal process framework for better

return potential Inception Date: July 19, 2019

Under normal circumstances the asset allocation pattern will be:  A portfolio of market leaders and emerging leaders.
 The portfolio will aim to provide alpha through tactical
(% of assets)
allocations under changing market cycles
Minimum Maximum High/
Medium/Low
Equity and Equity related Securities^ 80 100 Medium to High
Large Cap Companies* 35 65 Medium to High
Mid Cap Companies# 35 65 Medium to High BENCHMARK
Other than Large Cap and Mid Cap Companies 0 30 Medium to High
NIFTY Large Midcap 250 TRI Index
Debt and Money Market Securities
0 20 Low to Medium
(including CBLO, Reverse Repo)
FUND MANAGER
Units issued by REITs & InvITs 0 10 Medium to High Mr. Manish Lodha
încluding derivative instruments to the extent of 50% of the Net Assets of the Scheme. For Detailed Asset Allocation refer Mr. V Balasubramanian
SID available online at www.mahindramanulife.com or visit nearest ISC

TOP 250 NIVESH
Category: LARGE & MID CAP
Large
Infosys Limited 4.78% ICICI Bank Limited 4.73%
Mid
Small
Sun Pharmaceutical Industries Limited 2.68% Bharat Forge Limited 2.80%
Value Blend Growth

Axis Bank Limited 2.63% Reliance Industries Limited 2.72%
Tata Power Company Limited 2.46% HDFC Bank Limited 2.66%
Larsen & Toubro Limited 2.45% Tata Power Company Limited 2.59% FRESH ADDITIONS COMPLETE EXITS
Security Security
Tech Mahindra Limited 2.32% Atul Limited 2.59%
Birla Corporation Ltd. IndusInd Bank Ltd.
Housing Development Finance 2.24% Sun Pharmaceutical Industries Limited 2.52% Fortis Healthcare Ltd. KEC International Ltd.
Corporation Limited
Godrej Properties Ltd. Tata Consultancy Services Ltd.
Reliance Industries Limited 2.20% Larsen & Toubro Limited 2.48% Larsen & Toubro Infotech Ltd.
Zensar Technologies Ltd.

changes during the month and should not be construed as recommendation to buy/sell/ hold. The fund manager
Top 20 Holdings 51% Top 20 Holdings 53% 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).

TOP 250 NIVESH
 The portfolio currently has an exposure of about 53% in large cap and around
38% in mid cap YOJANA
 Key Overweight sectors/industries include Industrial Manufacturing,
Construction, Cement & Cement Products and Metals vs the scheme’s
benchmark
 Key Underweight sectors/industries include Automobile, Consumer Goods,

Fertilizers & Pesticides and Pharma vs the scheme’s benchmark
12 MONTH MARKET CAPITALIZATION TREND (% to Equity Holdings)

4% 5% 5% 4% 4%
6% 8% 9% 8% 7% 6% 9%
38% 38% 40% 37% 39% 39%
43% 43% 40% 41% 43% 38%
AUM (Rs. in Cr.) 399.58
Beta1 0.84
58% 58% 57% Alpha2 0.46

51% 51% 51% 55% 56% 56% 51% 53%
49%
month since inception till July 30, 2021 and annualized. 2. Calculated for the period
since inception till July 30, 2021. | Data Source: ICRA, Bloomberg | Data as on July 31,
2021 | N.A.: Net Assets
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Large Cap Mid Cap Small Cap Jul-21

FOCUSED EQUITY
 Selection of the next potential winners through the GCMV process# YOJANA
An open ended equity scheme investing in
 High conviction focused portfolio with strong risk management maximum 30 stocks across market caps
processes (i.e Multi Cap)
 Potential to generate relatively better risk adjusted returns

# GCMV is an internal process framework to optimize stock selection based on growth, cashflow, management and valuation Inception Date: November 17, 2020

Under normal circumstances the asset allocation pattern will be:  A high conviction diversified portfolio of companies
that could benefit from emerging opportunities in the
(% of assets) domestic scenario.
Minimum Maximum High/  A flexi cap, multi sector approach of selecting around
Medium/Low 30 stocks with potential medium to long term growth
runway.
Equity and Equity related Securities$^ 65 100 High
Debt and Money Market Securities (including

0 35 Low to Medium
TREPS (Tri-Party Repo), Reverse Repo)
Units issued by REITs & InvITs 0 10 Medium to High BENCHMARK

$ Subject to overall limit of 30 stocks across market capitalization.
Nifty 500 TRI
^ including derivative instruments to the extent of 50% of the Net Assets of the Scheme. Investment in derivatives shall be
for hedging, portfolio balancing and such other purposes as maybe permitted from time to time under the Regulations and FUND MANAGER
subject to guidelines issued by SEBI/RBI from time to time. For Detailed Asset Allocation refer SID/KIM available online at www.
mahindramanulife.com or visit nearest ISC Mr. Krishna Sanghavi
Ms. Fatema Pacha

CURRENT MONTH JULY 31, 2021 PREVIOUS MONTH JUNE 30, 2021 FOCUSED EQUITY
Security
ICICI Bank Limited
% to N.A.
9.65%
Security
Infosys Limited
% to N.A.
9.28%
Category: FOCUSED YOJANA
Housing Development Finance Corporation 7.37% Housing Development Finance Corporation 8.03% Large
Limited Limited
Kotak Mahindra Bank Limited 4.26% State Bank of India 5.33%
Mid
Grasim Industries Limited 4.25% Kotak Mahindra Bank Limited 4.72%
Bharti Airtel Limited 4.12% Grasim Industries Limited 4.41%
State Bank of India 3.98% Bharti Airtel Limited 4.14% Small
Hindalco Industries Limited 2.96% Hindustan Unilever Limited 3.35%
Larsen & Toubro Limited 2.94% Tech Mahindra Limited 2.86% Value Blend Growth
SINCE INCEPTION MARKET CAPITALIZATION TREND (% to Equity Holdings) PORTFOLIO UPDATE FOR THE MONTH
100%
 The portfolio has around 30 stocks and aims to benefit from emerging themes in the
80% domestic scenario
60%
 Key Overweight sectors/industries include Paper and Jute, Cement & Cement Products,
40% Telecom, and Healthcare Services vs the scheme’s benchmark
20%  Key Underweight sectors/industries include Consumer Goods, Oil and Gas, Automobiles
0% As per the Market Capitalisation data provided by and Consumer Services vs the scheme’s benchmark
AMFI (In line with the applicable SEBI guidelines)
Large cap Mid cap Small cap SIGNIFICANT PORTFOLIO C


IDCW HISTORY Security Security
Record Date Plan(s) Option(s) IDCW Face Value Cum-IDCW NAV Apollo Tyres Ltd. Bharat Forge Ltd.
(Rs. per unit) (Rs. per unit) (Rs. per unit) Jindal Steel and Power Ltd. Bosch Ltd.
26-Feb-21 Regular IDCW 0.50 10 11.8145 Larsen & Toubro Ltd. Dalmia Bharat Ltd.
26-Feb-21 Direct IDCW 0.50 10 11.8827 changes during the month and should not be construed as recommendation to buy/sell/ hold. The fund manager
Pursuant to payment of IDCW, the NAV of the IDCW Option(s) of the Scheme/Plan(s) falls to the extent of payout and may or may not choose to hold these companies/stocks, from time to time. Investors are requested to consult
statutory levy, if any. Past performance may or may not be sustained in future and should not be used as a basis for their financial, tax and other advisors before taking any investment decision(s).
comparison with other investments. For complete list of IDCWs, visit www.mahindramanulife.com.
HYBRID SCHEMES
63
EQUITY SAVINGS DHAN
 Potential capital appreciation and wealth accumulation through regular investments
in the long term.
SANCHAY YOJANA
(An open ended scheme investing in
Equity, arbitrage and debt)
 Balances the risk of equity with investments in debt and derivative securities.
 Flexible Asset Allocation feature in dynamic market scenarios.
Inception Date: Feb 1, 2017
Who is it for?
 Investors with moderate risk appetite SCHEME POSITIONING
 New investors who want to take measured exposure in equity market  A well-diversified portfolio that balances risk in equity
through investments in debt and arbitrage
 Investors seeking optimal investment solution through investment in both debt and
 The equity strategy will be guided by sector and market
equity
outlook for medium to long term
 The debt strategy will be guided by interest rate movements
ASSET ALLOCATION and change in term structure and credit spreads
Under normal circumstances the asset allocation pattern will be:  A portfolio structured to reduce the impact of market
Asset Class / Instruments Normal Alternative* volatility or drawdowns making it an all season investment
Allocation Range Allocation Range option
Un-hedged Equity (A) 40-60% 40-60%

BENCHMARK
Equity Arbitrage (B) 5-25% 0- 5%
Benchmark: Nifty Equity Savings Index TRI
Equity including Arbitrage (A+B) 65- 85% 45-65% Fund Index+15% Crisil Liquid Fund Index
Debt and Money Market Securities 15-35% 35-55%
FUND MANAGER
Units issued by REITs & InvITs 0-10% 0-10%
Ms. Fatema Pacha (Equity)
*Defensive circumstances [When debt market returns are expected to be better than returns from arbitrage opportunities]
For complete details on asset allocation please refer SID available on www.mahindramanulife.com or visit your nearest Investor Service Centre. Mr. Manish Lodha (Equity)
Mr. Rahul Pal (Debt)

CURRENT MONTH PREVIOUS MONTH EQUITY SAVINGS DHAN
JULY 31, 2021 JUNE 30, 2021 SANCHAY YOJANA
Category: EQUITY SAVINGS
State Bank of India 5.77% State Bank of India 6.16% INVESTMENT STYLE BOX
Housing Development Finance 5.33% Housing Development Finance 5.94%
Corporation Limited Corporation Limited Large
HDFC Bank Limited 4.32% HDFC Bank Limited 4.99% Mid
Hindustan Unilever Limited 2.59% Hindustan Unilever Limited 3.01%
Tata Consultancy Services Limited 2.42% Tata Consultancy Services Limited 2.81% Small
Kotak Mahindra Bank Limited 1.90% Kotak Mahindra Bank Limited 2.16%
Larsen & Toubro Limited 1.83% Larsen & Toubro Limited 1.89% Value Blend Growth
TOP 5 DEBT HOLDINGS
JULY 31, 2021 JUNE 30, 2021 FRESH ADDITIONS COMPLETE EXITS
Security % to N.A. Security % to Security Security
N.A. Birla Corporation Ltd. Bharat Petroleum Corporation Ltd.
7.32% GOI (MD 28/01/2024) (SOV) 3.85% 5.85% GOI (MD 01/12/2030) 2.95% Power Finance Corporation Ltd. Bosch Ltd.
National Bank For Agriculture and Rural 1.96% National Bank For Agriculture and Rural 2.15%
Development (CB) Development Steel Authority of India Ltd. HCL Technologies Ltd.
Coastal Gujarat Power Limited (CB) 1.95% Coastal Gujarat Power Limited 2.14% Tech Mahindra Ltd. Sbi Cards & Payment Services
REC Limited (CB) 1.87% 7.32% GOI (MD 28/01/2024) 2.11% Zensar Technologies Ltd. Timken India Ltd.
Housing Development Finance 1.83% REC Limited 2.05%
Corporation Limited (CB) Note: The companies/stock(s) referred above are only for the purpose of disclosure of significant portfolio
Total 11% Total 11% fund manager may or may not choose to hold these companies/stocks, from time to time. Investors are

EQUITY SAVINGS DHAN
Equity:
 The portfolio currently has a large cap bias that focusses on growth stocks having
SANCHAY YOJANA
reasonable valuations and value stocks having a near to medium term trigger.
 Key Overweight sectors/industries include Pharma, Fertilizers & Pesticides and Cement &
Cement Products vs the scheme’s benchmark
 Key Underweight sectors/industries include Metals, Consumer Goods and Services vs the
Debt:
 The Modified duration of the portfolio has decreased to 1.86 for the debt portion
 The allocation at the moment is marginally higher towards credit but we intend to have an
equal allocation between credits and gilts as we move ahead
IDCW HISTORY AUM (Rs. in Cr.) 275.90
Record Date Plan(s) Option(s) IDCW Face Value Cum-IDCW NAV
For Equity portion
27-Mar-19 Regular IDCW 0.0600 10 10.5494 Beta1 1.37
27-Mar-19 Direct IDCW 0.0600 10 11.0455 Alpha2 -0.32
05-Aug-19 Regular IDCW 0.0700 10 10.4975
For Debt portion
05-Aug-19 Direct IDCW 0.0700 10 10.9982
22-Jan-21 Regular IDCW 0.4000 10 12.8124 Mod Duration 1.86
22-Jan-21 Direct IDCW 0.4000 10 13.8283 YTM3 4.22%
as on July 31, 2021

Pursuant to payment of IDCW, the NAV of the IDCW Option(s) of the Scheme/Plan(s) falls to the 1. Beta is calculated on the basis of average monthly rolling returns as of last day of
extent of payout and statutory levy, if any. Past performance may or may not be sustained in future the month since inception till July 30, 2021 and annualized. 2. Calculated for the
and should not be used as a basis for comparison with other investments. For complete list of IDCWs, period since inception till July 30, 2021. 3. Yield to maturity should not be construed as
visit www.mahindramanulife.com. minimum return offered by the Scheme; | Data Source: ICRA, Bloomberg | Data as on
July 31, 2021 | N.A.: Net Assets

12 MONTH ASSEST ALLOCATION TREND (% to Net Assests) MAHINDRA MANULIFE
EQUITY SAVINGS DHAN
100%
SANCHAY YOJANA
80%
60%
40%
20%
0%
Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
Arbitrage Debt Equity Cash & Cash Equivalents
12 MONTH MARKET CAPITALIZATION TREND (% to Equity Holdings)

3% 3% 2% 2% 3% 2% 1% 1% 2% 2% 3% 5%
5% 10% 11% 11% 9% 8% 6% 7% 9%
14% 13% 11%
92% 88% 87% 87% 90% 91% 92% 91% 89%

83% 85% 84%
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21

HYBRID EQUITY
 Balanced portfolio with growth focus NIVESH YOJANA
An open ended hybrid scheme investing
 Security selection through robust process frameworks predominantly in equity and equity
related instruments
 Suitable for planning long term goals
Inception Date: July 19, 2019
SCHEME POSITIONING
ASSET ALLOCATION
 Tactical allocations across asset class adaptive to market
Under normal circumstances the asset allocation pattern will be: cycles
 Higher equity allocation to companies with high growth
Asset Class Proportion potential from across market caps
 High emphasis on quality of debt securities through a
Equity and Equity related Securities^ 65-80% robust credit risk appraisal process
Debt and Money Market Securities^ (including CBLO,

20-35%
Reverse Repo and units of liquid mutual fund schemes) BENCHMARK
CRISIL Hybrid 25+75 - Aggressive Index
Units issued by REITs & InvITs 0-10% FUND MANAGER
încluding derivative instruments to the extent of 50% of the Net Assets of the Scheme. For Detailed Asset Allocation refer Ms. Fatema Pacha (Equity)
SID available online at www.mahindramanulife.com or visit nearest ISC
Mr. Manish Lodha (Equity)
Mr. Rahul Pal (Debt)

CURRENT MONTH PREVIOUS MONTH HYBRID EQUITY
JULY 31, 2021 JUNE 30, 2021 NIVESH YOJANA
ICICI Bank Ltd. 7.26% Infosys Limited 6.64% Category: Aggressive Hybrid Scheme
Infosys Ltd. 7.14% Reliance Industries Limited 6.00% INVESTMENT STYLE BOX
HDFC Bank Ltd. 5.43% HDFC Bank Limited 5.94%
Large
Reliance Industries Ltd. 5.30% ICICI Bank Limited 5.71%
Hindustan Unilever Ltd. 2.91% Hindustan Unilever Limited 3.37%
Tata Consultancy Services Ltd. 2.69% Tata Consultancy Services Limited 3.10% Mid
Larsen & Toubro Ltd. 2.29% Kotak Mahindra Bank Limited 2.26%
Axis Bank Ltd. 2.17% Axis Bank Limited 2.13% Small
Kotak Mahindra Bank Ltd. 2.01% State Bank of India 1.69%
Value Blend Growth
State Bank of India 1.95% Housing Development Finance 1.68%
Corporation Limited
TOP 5 DEBT HOLDINGS

JULY 31, 2021 JUNE 30, 2021
Security % to N.A. Security % to N.A. SIGNIFICANT PORTFOLIO C
REC Limited (CB) 2.11% REC Limited (CB) 2.30%
Bajaj Finance Limited (CB) 2.03% Bajaj Finance Limited (CB) 2.23% Security Security
National Bank For Agriculture and Rural 1.98% National Bank For Agriculture and Rural 2.16%
Development (CB) Development (CB) MRF Ltd. APL Apollo Tubes Ltd
5.63% GOI (MD 12/04/2026) (SOV) 1.96% 5.63% GOI (MD 12/04/2026) (SOV) 2.14% 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
5.15% GOI (MD 09/11/2025) (SOV) 1.94% 5.15% GOI (MD 09/11/2025) (SOV) 2.11% choose to hold these companies/stocks, from time to time. Investors are requested to consult their financial, tax and other
Total 10% Total 11% advisors before taking any investment decision(s).

HYBRID EQUITY
Equity:
NIVESH YOJANA
 Portfolio composition would have preference for growth style of investing.
 Key Overweight sectors/industries include Industrial Manufacturing, Fertilizers & Pesticides,
Chemicals and Healthcare Services vs the scheme’s benchmark
 Key Underweight sectors/industries include Finance, Consumer Goods and Services, Oil and
Gas and Telecom vs the scheme’s benchmark
Debt: PORTFOLIO STATISTICS
 The Modified duration of the portfolio is around 2.72 for the debt portion
AUM (Rs. in Cr.) 254.01
 We intend to have a larger allocation towards gilts as we move ahead
12 MONTH MARKET CAPITALIZATION TREND (% to Equity Holdings) IDCW HISTORY

7% 7% 3% 8% Record Plan(s) IDCW Face Value Cum-IDCW
10% 10% 12% 10% 11% 13% 12% 11% Date Option(s) NAV
19%
26% 18% 18% 15% 15% 15% 14% 13% 14% 16% (Rs. per unit) (Rs. per unit) (Rs. per unit)
29%
22-Jan-21 Regular IDCW 0.6000 10 12.4837
22-Jan-21 Direct IDCW 0.6000 10 13.5898

78% 74% 71% 75% 73% 75% 75% 74% 74% 73%
67% 64% Pursuant to payment of IDCW, the NAV of the IDCW Option(s) of the Scheme/Plan(s)
falls to the extent of payout and statutory levy, if any. Past performance may or
may not be sustained in future and should not be used as a basis for comparison
with other investments. For complete list of IDCWs, visit www.mahindramanulife.
com.
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
as on July 31, 2021


 A fully hedged portfolio that is managed actively to find suitable opportunities ARBITRAGE YOJANA
(An open ended scheme investing in
 Lower risk, by locking in returns through simultaneous opposite trades arbitrage opportunities)
 Better post tax returns compared to short term debt funds, such as liquid funds
 Suitable for investment across market cycles, as it doesn’t take a directional call Inception Date: August 24, 2020

Under normal circumstances the asset allocation pattern will be:  Will take tactical hedging calls while maintaining liquidity
Indicative Allocation
Risk Profile  Will be agnostic to sector and market cap
(% of assets)
Instruments
High/
Minimum Maximum
Medium/Low
Equity & Equity related instruments including
Equity Derivatives*
80 100 Medium to High
Debt and Money Market Securities (including TREPS

(Tri-Party Repo), Reverse Repo)
35 65 Medium to High
BENCHMARK
Units issued by REITs & InvITs 35 65 Medium to High
Nifty 50 Arbitrage Index TRI
Units issued by REITs & InvITs 0 10 Medium to High
*The Scheme will use derivatives (including index futures, stock futures, index options and stock options) as part of the
FUND MANAGER
arbitrage strategy of the Scheme and subject to guidelines issued by SEBI from time to time.
#
If the arbitrage opportunities in the market are not available / negligible or returns are lower than alternative investment
Mr. V Balasubramanian (Equity)
opportunities as per the allocation pattern, then the Fund Manager may choose to follow an alternate asset allocation,
keeping in view the interest of the unitholders.For Detailed Asset Allocation refer SID available online at www.
Mr. Manish Lodha (Equity)
mahindramanulife.com or visit nearest ISC Mr. Rahul Pal (Debt)

ARBITRAGE YOJANA
JULY 31, 2021 JUNE 30, 2021
ICICI Bank Limited 6.07% Tata Power Company Limited 7.19%
Tata Power Company Limited 5.91% Maruti Suzuki India Limited 7.06%
Jindal Steel & Power Limited 5.82% ICICI Bank Limited 6.98%
AUM (Rs. in Cr.) 28.28
Asian Paints Limited 5.50% Asian Paints Limited 6.93%
Maruti Suzuki India Limited 5.27% Infosys Limited 6.05%

Infosys Limited 4.95% Reliance Industries Limited 6.02%
Adani Ports and Special Economic

Reliance Industries Limited 4.66% 5.90%
Zone Limited 67.41 - Fully Hedged Equity
Adani Ports and Special Economic 23.76 - Mutual Fund Units

4.55% Jindal Steel & Power Limited 4.00%
Zone Limited
8.83 - Cash & Cash Equivalent
HDFC Bank Limited 4.23% Lupin Limited 3.93%
Indian Railway Catering And Tourism

3.47% Bharti Airtel Limited 3.26%
Corporation Limited

Mahindra Manulife • Long term capital appreciation

ELSS Kar Bachat Yojana • Investment predominantly in equity and equity related securities
Moderate Moderately
Mahindra Manulife • Medium to Long term capital appreciation; High
Multi Cap Badhat Yojana
od to
• Investment predominantly in equity and equity related securities including derivatives
e
at
Hi
M ow
er
gh
L
Mahindra Manulife • Long term capital appreciation;
Low
Very
High
Mid Cap Unnati Yojana • Investment predominantly in equity and equity related securities including derivatives of mid cap companies.
RISKOMETER
Mahindra Manulife • Long term wealth creation and income;
Top 250 Nivesh Yojana • Investment predominantly in equity and equity related securities of Large and Mid cap companies will be at very high risk
Mahindra Manulife • Long term capital appreciation

Large Cap Pragati Yojana • Investment predominantly in equity and equity related securities including derivatives of large cap companies.
Mahindra Manulife • Long term capital appreciation and generation of income;

Equity Savings Dhan • Investment equity and equity related instruments, arbitrage opportunities and debt and money market Moderate Moderately
High
Sanchay Yojana instruments.
od to
e
at
Hi
M ow
er
hg
L
Low
Very
High
RISKOMETER
will be at moderately high risk
Mahindra Manulife Hybrid • Long term capital appreciation and generation of income;
Moderate Moderately
Equity Nivesh Yojana • Investment in equity and equity related instruments and debt and money market instruments High
od to
e
at
Hi
M ow
er
gh
L
Low
Very
High
RISKOMETER
will be at very high risk
73
Mahindra Manulife • Income over short term

Arbitrage Yojana • Income through arbitrage opportunities between cash and derivative market and arbitrage Moderate Moderately
High
opportunities within the derivative segment.
od to
e
at
Hi
M ow
er
gh
L
Low
Very
High
RISKOMETER
will be at low risk

Rural Bharat and • Investment predominantly in equity and equity related securities including derivatives of entities
Consumption Yojana engaged in and/or expected to benefit from the growth in rural India.
Moderate Moderately
High
Mahindra Manulife • Long term capital appreciation.
od to
e
at
Hi
M ow
Focused Equity Yojana
er
gh
• Investment in equity & equity related instruments in a concentrated portfolio of maximum
L
30 stocks across market capitalization.
Low
Very
High
RISKOMETER
will be at very high risk

Flexi Cap Yojana • Investment in diversified portfolio of equity & equity related instruments across market
An open ended dynamic equity scheme
investing across large cap, mid cap, small capitalization.
cap stocks
* Investors should consult their financial advisers if in doubt about whether the product is suitable for them
74
AMC STRUCTURE
75
KEY PARTNERS OF AMC
Sr. No. Service Providers Role
1. Deutsche Bank AG Custodian
2. Computer Age Management Services Limited (CAMS) Registrar and Transfer Agent
3. Deutsche Bank AG Fund Accountant
4. Deloitte Haskins & Sells Statutory Auditors for the Schemes
5. Kotak Bank Collecting Banker
6. MultiAct Research House
76
BOARD OF DIRECTORS
Board of Directors – Trustee Board of Directors – AMC
Mr. Manohar G. Bhide Mr. Ramesh Iyer
Mr. Gautam G. Parekh* Mr. Ashutosh Bishnoi
Mr. A.K. Sridhar Mr. Gianni Fiacco
Mr. Suneet K. Maheshwari* Ms. Chitra Andrade*
Mr. Nilesh Sathe Mr. Vijay Seshadri Ramachandran
Mr. Mukul K. Gupta Prof. Sethu Gururajan*
* Independent Director
77
AMC KEY PERSONNEL
Sr. No. Key Personnel Designation
1. Mr. Ashutosh Bishnoi Managing Director & Chief Executive Officer
2. Ms. Ashwini Sankhe Chief Financial Officer
3. Mr. Jatinder Pal Singh Chief Marketing Officer
4. Mr. Rathin Lahiri Chief Business Development Officer
5. Mr. Ravi Dayma Head - Compliance & Risk, Company Secretary
6. Mr. Sanjay D’Cunha Head - Information Technology
7. Mr. Rahul Pal Head - Fixed Income
8. Mr. Krishna Sanghavi Chief Investment Officer - Equity
9. Mr. V. Balasubramanian Chief Portfolio Strategist - Equity
10. Ms. Fatema Pacha Fund Manager - Equity
11. Mr. Manish Lodha Fund Manager - Equity
12. Mr. Amit Garg Assistant Fund Manager - Fixed Income
13. Ms. Pooja Deherkar Investor Relations officer
78
Disclaimer
The views expressed here in this document are for general information and reading purpose only and do not constitute any guidelines and
recommendations on any course of action to be followed by the reader. No representation or warranty is made as to the accuracy, completeness
or fairness of the information and opinions contained herein. The views are not meant to serve as a professional guide / investment advice /
intended to be an offer or solicitation for the purchase or sale of any financial product or instrument or mutual fund units for the reader. This
document has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable.
While utmost care has been exercised while preparing this document, Mahindra Asset Management Company Private Limited (Mahindra AMC)
does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this
information. The data/statistics are given to explain general market trends in the securities market, it should not be construed as any research
report/research recommendation. Readers of this document 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 Mutual Fund, Mahindra
AMC nor Mahindra Trustee Company Private Limited, its directors or associates shall be liable for any damages that may arise from the use of the
information contained herein.
For detailed asset allocation, investment strategy, scheme specific risk factors and more details, please read the Scheme Information
Document and Key Information Memorandums of schemes of Mahindra Mutual Fund available at ISCs of Mahindra AMC and Computer Age
Management Services Private Limited and also available on www.mahindramanulife.com. Past performance may or may not be sustained
in the future and should not be used as a basis for comparison with other investments.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.
79
Mahindra Manulife Investment Management Private Limited
(Formerly known as Mahindra Asset Management Company Private Limited)
Corp. Office: Sadhana House, 1st Floor, 570 P.B. Marg, Worli, Mumbai – 400018, India
Tel: +91 22 6632 7900 | Fax: +91 22 6632 7932 | Toll Free: 1800 419 6244
Regd . Office: “A” Wing, 4th Floor, Mahindra Towers, Dr. G. M. Bhosale Marg, P.K. Kurne Chowk,
Worli, Mumbai – 400018, India
Tel: +91 22 6652 6000 | Fax: +91 22 2498 4170
Website: www.mahindramanulife.com
80

MMMF PPT - July - 2021

Uploaded by

Copyright:

Available Formats

MMMF PPT - July - 2021

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

MMMF PPT - July - 2021

Uploaded by

Copyright:

Available Formats

Partner Presentation

July, 2021 Intended for IFAs and Distributors

Central Guiding Philosophy:

Mahindra & Mahindra Financial Manulife Investment Management

As on March 31, 2021

*Source: Market capitalisation as of April 22, 2021 from BSE website

Mahindra & Mahindra Limited 98.43%(2)

51%(3) Mahindra Manulife Investment Management

Source: Mahindra Finance Analyst Presentation, Q4 FY20-21

Maiden issue of ECB

Source: Mahindra Finance Analyst Presentation, Q4 FY20-21

Source: Manulife Quarterly Corporate Presentation, Q4 FY19-20

Source: Manulife Quarterly Corporate Presentation, Q4 FY19-20

Source: Manulife Quarterly Corporate Presentation, Q4 FY19-20

Growth Management Valuation

Top down & Bottom up analysis Catalysts

Cash-flow generation Valuation

For illustrative purposes only

 Social Media Pulse on Issuers  Profile of Directors

 Active credit monitoring CREDIT

Parameters 30-July-21 30-June-21 30-July-20

What should an investor do?

For investments in debt oriented products:

For investments in equity oriented products:

MAHINDRA MAHINDRA MAHINDRA MAHINDRA MAHINDRA MAHINDRA

MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE

MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE RURAL

EQUITY MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE MAHINDRA MANULIFE

 No exit load for any investment period

Will invest in debt & money market instruments with

ASSET ALLOCATION SCHEME POSITIONING

Debt & money market

Please see slide 41 for product labeling 24

Reverse Repo 99.61

Net Receivables/(Payables) 0.30

CASH & OTHER RECEIVABLES 100.00

Grand Total 100.00

Monthly AAUM (Rs. in Cr.) 93.08

Avg. Maturity (Day) 3.0

Yield to Maturity1 3.35%

as on July 31, 2021

Please see slide 41 for product labeling 25

ASSET ALLOCATION SCHEME POSITIONING

Please see slide 41 for product labeling 26

Security % to N.A. Security % to N.A.

TOTAL 44% TOTAL 52%

Please see slide 41 for product labeling 27

ASSET ALLOCATION (%)

42.05 - Commercial Paper

12 MONTH RATING PROFILE TREND (% to Net Assets) PORTFOLIO STATISTICS

as on July 31, 2021

Please see slide 41 for product labeling 28

Medium to High BENCHMARK

Please see slide 41 for product labeling 29

Please see slide 41 for product labeling 30

26.98 - Corporate Bond

26.22 - Commercial Paper

16.32 - Cash & Cash Equivalents*

13.04 - Treasury Bill