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Mahindra Manulife Mid Cap Fund

Mahindra Manulife Mutual Fund · 142110 · Quant Rank #354

Structural GatesFully Researched (Deep)Prospera Research Confidence: MEDIUM
ANALYST_REVIEWED

Research Confidence reflects source quality and evidence depth — it is independent of the score below. A fund can score highly with low confidence, or moderately with high confidence.

Real Evidence
CategoryMC
AUM₹5,186 Cr
BenchmarkNifty Midcap 150 TRI
RiskometerVery High
TER0.49%
Inception2018-01-30
Track RecordInsufficient data
Fund ManagerKrishna Sanghavi, Neelesh Dhamnaskar, Kirti Dalvi (recent manager change disclosed, exact transition date not stated)
AUM Floor₹500 Cr
Min Track3 yrs
Max Alloc20%
Returns vs Benchmark
WindowFundBenchmark
1 Year14.47%9.69%
3 Year21.94%18.52%
5 Year20.47%18.74%
Since Launch18.51%15.68%
Calculated Parameters
FMTInsufficient data — no real 'managing since' date collected for this scheme's current manager
AMQ3/10
AUTInsufficient data — no real 3-months-ago AUM evidence (AMFI's live feed only carries current + ~1-month-ago; needs a genuine dated snapshot from an earlier sync)
ERS8/10
Structural Gates
Gate 1 — EligibilityUNKNOWN

AUM floor: PASS · Track record: UNKNOWN · SEBI: UNKNOWN

Gate 2Quant ScreenFAIL
Gate 3Top 10FAIL
Gate 4Top 5FAIL
Gate 5Top 2 ICFAIL
Candidate's 37.9 would rank #6 among 5 real existing category scores (top 2 = recommendable).
Analyst Name
MOMMomentum
7% weight
Deep ResearchConfidence: HIGH

3–6M price+flow vs benchmark · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

CONConsistency
10% weight
Deep ResearchConfidence: HIGH

3Y/5Y quartile rank stability · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

PQTPortfolio Quality
11% weight
Deep ResearchConfidence: MEDIUM

PE, concentration, churn · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

FMQFund Mgr Quality
12% weight
Deep ResearchConfidence: MEDIUM

Philosophy, communication, style drift · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

VALValuation Risk
10% weight
Deep Research

Portfolio PE/PB vs category avg · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

STWSector Tailwinds
9% weight
Deep ResearchConfidence: MEDIUM

Policy/macro drivers 12-18M · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

DSPDownside Protection
8% weight
Deep Research

Max DD, Sortino, bear markets · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

OPPOutperformance Prob.
8% weight
Deep ResearchConfidence: MEDIUM

Analyst 12M alpha probability · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

THSThesis Strength
2% weight
Deep ResearchConfidence: LOW

Analyst 12-24M thesis conviction · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 6:40:50 AM

V6 Final Score
37.9
/ 100 — Final Score
AVOID
MOM
4.2
CON
8.0
PQT
6.6
FMQ
4.8
VAL
0.0
STW
4.5
DSP
0.0
OPP
4.0
FMT
AMQ
1.8
AUT
ERS
3.2
THS
0.8
Data-limited: FMT, AUT (insufficient data — never defaulted to 0)
Source Evidence (20)
BenchmarkNifty Midcap 150 TRI
Riskometer (Scheme)Very High
NAV - Direct Plan42.7996
NAV Date21-Aug-2026
Daily AUM (Cr.)5393.44
1 Year Return - Direct Plan (%)14.4668
1 Year Return - Benchmark (%)9.6865
3 Year Return - Direct Plan (%)21.9443
3 Year Return - Benchmark (%)18.5181
5 Year Return - Direct Plan (%)20.4715
5 Year Return - Benchmark (%)18.7447
Since Launch Return - Direct Plan (%)18.5092
Since Launch Return - Benchmark (%)15.6786
AUM (Cr.)5186
Total Expense Ratio (%)0.49
Inception Date2018-01-30
Value Research Rating (out of 5 stars)4
Fund ManagerKrishna Sanghavi, Neelesh Dhamnaskar, Kirti Dalvi (recent manager change disclosed, exact transition date not stated)
Top 5 HoldingsFederal Bank 3.77%, IndusInd Bank 3.50%, Nippon Life AMC 2.61%, L&T Finance 2.56%, Coforge 2.54% (top-5 total ~15.0%)
Audit Log
MOM 76 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed] Real AMFI 5Y direct-plan return vs Nifty Midcap 150 TRI: only +1.73pp (20.47% vs 18.74%) — a genuinely thin outperformance margin compared to other candidates reviewed in this pass. Real but modest evidence, scored accordingly rather than defaulted upward.
CON 88 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed] Approved substitution: Value Research 4★ rating -> CON 8. Source: Value Research Online, 24-Aug-2026.
PQT 66 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed] Real top-5 holdings (Value Research): Federal Bank 3.77%, IndusInd Bank 3.50%, Nippon Life AMC 2.61%, L&T Finance 2.56%, Coforge 2.54% (top-5 total ~15.0%) — reasonable single-stock diversification but no distinguishing quality signal found. No turnover/churn evidence available.
FMQ 54 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed] Real evidence found a DISCLOSED RECENT fund-manager change: the scheme is currently listed under three managers (Krishna Sanghavi, Neelesh Dhamnaskar, Kirti Dalvi) with an explicit 'change in the fund manager' notice referenced on Value Research, exact transition date not specified. This is a genuine, evidence-based continuity concern — scored below the category-neutral baseline to reflect real disclosed management transition risk, not a template downgrade.
VAL 60 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed] No legitimate PE/PB or valuation-positioning evidence found for this scheme. Scored 0 (N/A).
STW 65 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed] Real top-5 holdings show genuine, specific concentration in financial services: Federal Bank, IndusInd Bank, L&T Finance, and Nippon Life AMC together account for 4 of the top 5 positions (~12.4% combined). This is real sector concentration, not diversified tailwind exposure — scored to reflect concentration risk honestly rather than the uniform category placeholder every candidate previously received.
DSP 50 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed] No real drawdown/Sortino/bear-market evidence found. Scored 0 (N/A).
OPP 75 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed, analyst judgment] The combination of a thin real outperformance margin, a disclosed recent manager transition, and real financial-sector concentration does not support a strong forward-looking outperformance case on the evidence found — scored meaningfully below stronger candidates in this batch for that reason, not defaulted to a mid-scale placeholder.
THS 54 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 6:40:50 AM
[DEEP RESEARCH — individually assessed] Standard mid-cap mandate (>=65% mid-cap). Real evidence shows a specific financial-services-concentrated positioning combined with a disclosed, undated recent manager transition — genuine uncertainty about whether the current team's process matches the fund's historical thesis. Scored as a real downgrade to reflect this honestly-disclosed uncertainty; LOW confidence because the transition timing and its effect on strategy continuity could not be verified.
THS 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:27 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Mid Cap: structural India growth exposure, but valuations are cyclically extended after a multi-year rally and liquidity is thinner than large-cap.
OPP 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:26 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real return-vs-benchmark evidence: 1Y +4.78pp vs benchmark, 3Y +3.43pp vs benchmark, 5Y +1.73pp vs benchmark, SinceLaunch +2.83pp vs benchmark (avg 3.19pp).
DSP 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:24 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No real Max Drawdown or Sortino data exists in any source checked this session; ordinary volatility/beta are never substituted.
STW 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:22 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Category-level thesis: Mid Cap: structural India growth exposure, but valuations are cyclically extended after a multi-year rally and liquidity is thinner than large-cap. No fund-specific sector-overweight evidence collected (no GICS sector allocation data exists for this scheme), so scored at the category's own general positioning.
VAL 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:21 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real TER of 0.49% used as the only real, quantified cost/value signal available (no portfolio PE/PB data exists in any source checked this session) — lower cost scored more favorably.
FMQ 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:19 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No manager identity evidence collected; scored at category-neutral baseline.
PQT 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:17 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real AUM ₹5,186 Cr vs category floor ₹500 Cr (10.4x). Moderate scale — no specific capacity concern or advantage documented.
CON 88 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:16 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] V6 CON uses category-relative consistency/quartile methodology. Public Value Research star rating (4/5) is used as a disclosed evidence substitution — never literal quartile rank.
MOM 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:47:14 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Most recent available window (1Y: +4.78pp vs benchmark) used as the closest real proxy for near-term momentum (V6's exact 3-6M window has no data source for most equity funds in this pipeline).
THS 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:08:03 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Mid Cap: structural India growth exposure, but valuations are cyclically extended after a multi-year rally and liquidity is thinner than large-cap.
OPP 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:08:01 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real return-vs-benchmark evidence: 1Y +4.78pp vs benchmark, 3Y +3.43pp vs benchmark, 5Y +1.73pp vs benchmark, SinceLaunch +2.83pp vs benchmark (avg 3.19pp).
DSP 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:07:59 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No real Max Drawdown or Sortino data exists in any source checked this session; ordinary volatility/beta are never substituted.
STW 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:07:57 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Category-level thesis: Mid Cap: structural India growth exposure, but valuations are cyclically extended after a multi-year rally and liquidity is thinner than large-cap. No fund-specific sector-overweight evidence collected (no GICS sector allocation data exists for this scheme), so scored at the category's own general positioning.
VAL 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:07:55 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real TER of 0.49% used as the only real, quantified cost/value signal available (no portfolio PE/PB data exists in any source checked this session) — lower cost scored more favorably.
FMQ 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:07:53 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No manager identity evidence collected; scored at category-neutral baseline.
PQT 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:07:51 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real AUM ₹5,186 Cr vs category floor ₹500 Cr (10.4x). Moderate scale — no specific capacity concern or advantage documented.
CON 88 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:07:49 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] V6 CON uses category-relative consistency/quartile methodology. Public Value Research star rating (4/5) is used as a disclosed evidence substitution — never literal quartile rank.
MOM 07 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:07:47 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Most recent available window (1Y: +4.78pp vs benchmark) used as the closest real proxy for near-term momentum (V6's exact 3-6M window has no data source for most equity funds in this pipeline).
THS 55 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:23 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Baseline category-standard mandate identified (benchmark: Nifty Midcap 150 TRI, real AUM ₹5,186 Cr).
DSP 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:21 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real Max Drawdown or Sortino Ratio data collected for this scheme; ordinary volatility/beta are not used as a substitute.
STW 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:19 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real sector-allocation data collected for this scheme to support a forward sector-tailwind judgment.
VAL 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:17 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio PE/PB data collected for this scheme from any real source.
FMQ 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:15 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no manager identity or tenure evidence collected for this scheme.
PQT 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:13 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio composition data (Top-10 holdings, sector concentration, or turnover) collected for this scheme.
OPP 77 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:11 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Real data shows the fund beating its benchmark in every available window, averaging +3.19pp (1 Year 14.47% vs 9.69%, 3 Year 21.94% vs 18.52%, 5 Year 20.47% vs 18.74%, Since Launch 18.51% vs 15.68%).
MOM 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:09 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real 1/3/6-month return data collected for this scheme (V6's stated 3-6M momentum window has no evidence source for most funds in this pipeline).
CON 88 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:24:08 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Approved V7 evidence substitution for V6 CON: Value Research rating 4/5 stars -> disclosed linear scale (1*=2,2*=4,3*=6,4*=8,5*=10). Not literal V6 quartile rank — the closest real, independent, public consistency signal available.
THS 5 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:41 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Baseline category-standard mandate identified (benchmark: Nifty Midcap 150 TRI, real AUM ₹5,186 Cr).
DSP 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:39 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real Max Drawdown or Sortino Ratio data collected for this scheme; ordinary volatility/beta are not used as a substitute.
STW 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:37 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real sector-allocation data collected for this scheme to support a forward sector-tailwind judgment.
VAL 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:36 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio PE/PB data collected for this scheme from any real source.
FMQ 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:34 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no manager identity or tenure evidence collected for this scheme.
PQT 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:32 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio composition data (Top-10 holdings, sector concentration, or turnover) collected for this scheme.
OPP 7 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:30 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Real data shows the fund beating its benchmark in every available window, averaging +3.19pp (1 Year 14.47% vs 9.69%, 3 Year 21.94% vs 18.52%, 5 Year 20.47% vs 18.74%, Since Launch 18.51% vs 15.68%).
MOM 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:29 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real 1/3/6-month return data collected for this scheme (V6's stated 3-6M momentum window has no evidence source for most funds in this pipeline).
CON 88 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:21:27 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Approved V7 evidence substitution for V6 CON: Value Research rating 4/5 stars -> disclosed linear scale (1*=2,2*=4,3*=6,4*=8,5*=10). Not literal V6 quartile rank — the closest real, independent, public consistency signal available.
CON 8 by Claude (V7 Workspace batch ingestion) · 8/24/2026, 3:50:36 PM
Value Research rating: 4/5 stars (https://www.valueresearchonline.com/funds/34956/mahindra-manulife-mid-cap-fund-direct-plan/), converted via the disclosed linear scale 1*=2,2*=4,3*=6,4*=8,5*=10. This is VR's own independent risk-adjusted-consistency signal, NOT a literal category-quartile-rank computation — used as the closest real, public, non-account-gated evidence for CON, per explicit sign-off.