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Mahindra Manulife Banking & Financial Services Fund - Direct - Growth vs Nippon India Power & Infra Fund - Direct Plan Growth Plan - Growth Option
Mahindra Manulife Banking & Financial Services Fund and Nippon India Power & Infra Fund are both in the Sectoral Fund category, from Mahindra Manulife Investment Management Pvt Ltd and Nippon Life India Asset Management Limited respectively. Nippon India Power & Infra Fund has the lower expense ratio. See the full table and FAQ below for the complete real-data comparison.
Basics
Nippon India Power & Infra Fund has the lower direct-plan expense ratio, by 0.06 percentage points.
| Mahindra Manulife Banking & Financial Services Fund - Direct - Growth | Nippon India Power & Infra Fund - Direct Plan Growth Plan - Growth Option | |
|---|---|---|
| Category | Sectoral Fund | Sectoral Fund |
| AMC | Mahindra Manulife Investment Management Pvt Ltd | Nippon Life India Asset Management Limited |
| Benchmark | Nifty Financial Services TRI | Nifty Infrastructure TRI |
| NAV | ₹10.1016 (2026-10-28) | ₹382.3478 (2026-10-28) |
| AUM | ₹424.39 Cr | ₹7,467.512 Cr |
| Expense Ratio (Direct) | 1.16% | 1.1% |
| Inception | 2025-06-27 | 2004-03-29 |
Returns
Risk Metrics
This fund is less than three years old, so a three-year risk history does not exist yet.
Portfolio Analytics
Nippon India Power & Infra Fund carries the higher portfolio P/E ratio (a rougher proxy for how richly the underlying holdings are valued) - see the table below for the full comparison.
Punji Fund Health Score
Mahindra Manulife Banking & Financial Services Fund has the stronger Punji Quality grade of the two.
Frequently asked questions
Which has a lower expense ratio, Mahindra Manulife Banking & Financial Services Fund or Nippon India Power & Infra Fund?
Nippon India Power & Infra Fund's direct-plan expense ratio is 0.06 percentage points lower than Mahindra Manulife Banking & Financial Services Fund's. Over long holding periods, a persistent expense-ratio gap compounds into a materially different final corpus even if the two funds' gross returns are similar - it's one of the few fund attributes you can compare with total certainty upfront, unlike future returns, since the fee is contractually fixed rather than a historical estimate.
Why don't Mahindra Manulife Banking & Financial Services Fund and Nippon India Power & Infra Fund show risk metrics like Sharpe ratio or alpha?
This fund is less than three years old, so a three-year risk history does not exist yet. This is a deliberate methodology choice, not missing data - risk metrics like alpha and Sharpe ratio are most meaningful for actively-managed funds where a manager makes decisions that can add or subtract value versus a benchmark. For a fund that mechanically tracks an index, the equivalent useful metric is tracking error (how closely it follows its index), not alpha.
Which has higher AUM, Mahindra Manulife Banking & Financial Services Fund or Nippon India Power & Infra Fund?
Nippon India Power & Infra Fund has ₹7,468 Cr in assets under management, versus ₹424 Cr for Mahindra Manulife Banking & Financial Services Fund. A larger AUM generally means deeper liquidity and lower per-unit fixed costs for the AMC to spread across investors, but an AUM that's very large relative to a fund's category and strategy (especially in small/mid cap categories, where the investable universe is smaller) can also make it harder for a manager to enter and exit positions without moving the price - bigger isn't automatically better, especially for less liquid categories.
Which fund has a longer track record, Mahindra Manulife Banking & Financial Services Fund or Nippon India Power & Infra Fund?
Nippon India Power & Infra Fund launched on 2004-03-29, making it older than Mahindra Manulife Banking & Financial Services Fund (launched 2025-06-27). A longer track record means more real market cycles (bull runs, corrections, rate cycles) the fund has actually navigated, which is useful context for judging consistency - but it isn't a guarantee of future performance, and a newer fund isn't automatically worse, especially if it's run by an experienced manager or team with a track record at a prior fund.
Data as of 2026-10-29. Source: AMFI disclosures via Punji. Not investment advice.