Top 5 Performing Equity Midcap Funds

May 26, 2022 Trading 3 min read
Top 5 Performing Equity Midcap Funds

The Indian equity market has been on a roller coaster ride since the beginning of this year. The market, which was still recovering from the COVID blues, has been again hit by the global geopolitical crisis, high inflation, tightening monetary policy and relentless selling by foreign portfolio investors.

The benchmark Nifty50 has fallen over 8% this year so far, but it has risen more than 34% in the last 3 years. However, domestic retail investment has sustained positive momentum in the market.

The equity mutual funds witnessed a net inflow of Rs 15,890 crore in April 2022, The mutual fund industry’s total net assets under management (AUM) as of April 30, 2022, grew 17% on a year-on-year basis to Rs 38.03 lakh crore, as per data from the Association of Mutual Funds in India (AMFI).

It seems return prospect have managed to restore investor confidence in a high risky asset class such as equities given the huge retail investor fund inflow. The leading mutual fund scheme, especially a systematic investment plan or SIP has been the torchbearer of sorts in this highly volatile market. The segment witnessed a humongous increase in new customer addition and fund inflow hitting record levels in the past.

Inflows through SIPs in the mutual fund industry crossed Rs 1.24 lakh crore in FY22, rising over 30% from Rs 96,080 crore in the previous fiscal.

Let us take a look at top-performing equity midcap mutual fund schemes

Scheme Benchmark NAV (Rs) 5-Year Return (%) AUM (Rs Crore)
Quant Mid Cap Fund NIFTY Midcap 150 Total Return Index 114.4094 18.21 460
Axis Midcap S&P BSE 150 MidCap Total Return Index 59.8100 16.56 17,678.92
PGIM India Midcap Opportunities Fund NIFTY Midcap 150 Total Return Index 38.0600 15.56 5,012
Edelweiss Mid Cap Fund NIFTY Midcap 150 Total Return Index 44.8410 13.37 1,959
Nippon India Growth Fund NIFTY Midcap 150 Total Return Index 1,834.5938 13.27 12,178

Source: AMFI   Considered Date: May 25, 2022

Quant Mid Cap Fund

Quant Mid Cap Fund has been the top performer in the last five years, generating returns of 18.21%. The primary investment objective of the scheme is to seek to generate capital appreciation and provide long-term growth opportunities by investing in a portfolio of midcap companies. 

The total AUM of the fund is around Rs 460 crore with 99.8% holding in equity. The scheme has 32 stocks in its portfolio including Indian Hotels Company, Ruchi Soya Industries, Tata Communications and Oracle Financial Services as its top holdings. The benchmark index for the fund is Nifty Mid Cap 150 Index and the fund’s NAV is Rs 114.41 as of May 25.

Axis Midcap Fund

With an AUM of Rs 17,678.92 crore, Axis Midcap Fund has been a consistent performer in the last 5 years as it has shown returns of over 16%. Rs 1 lakh invested in this fund 5 years back would have grown to Rs 2.29 lakh today.

The fund holds 15.72% of its net assets in financial services, 12.47% in information technology, 9.64% in Consumer Services, 9.53% in Capital Goods and 7.88% in Consumer Durables. 

Cholamandalam Investment and Finance Company, ICICI Bank, Trent, Bajaj Finance and Coforge are the top equity holdings of this fund. It has a total of 65 stocks in its portfolio. The NAV is Rs 59.81 and the fund is benchmarked to S&P BSE 150 MidCap Total Return Index.

PGIM India Midcap Opportunities Fund

PGIM India Midcap Opportunities Fund predominantly invests in midcap stocks in accordance with the investment objective and asset allocation. The fund has given a return of more than 15.5% in the last 5 years and has NAV of Rs 38.06.

The open-ended scheme has an AUM of Rs 5,012 crore and holds 51 stocks in its portfolio with Persistent Systems, HDFC Bank, TVS Motor Company, The Federal Bank and Dalmia Bharat being the top 5 holdings. 

Edelweiss Mid Cap Fund

Edelweiss Mid Cap Fund is an open-ended equity scheme predominantly investing in mid-cap stocks. The fund was launched in December 2007 and Rs 1,00,000 invested since inception has grown to Rs 4,50,477 at 10.97% CAGR.

The fund has a NAV of Rs 44.8410 and a total AUM of Rs 1,959 crore. With 59 stocks in its portfolio, the scheme’s majority of investment includes in financial services, basic materials, consumer cyclicals and industrials sector. Persistent Systems, Cummins India, Bharat Forge, Dixon Technologies (India) and Ashok Leyland are the top holdings.

Nippon India Growth Fund

Nippon India Growth Fund has shown over 13% returns in the last five years and Rs 1 lakh investment five years back would have grown to Rs 1.93 lakh today.

The fund has 83 stocks in its portfolio with Varun Beverages, Cholamandalam Financial Holdings, AU Small Finance Bank, Max Financial Services and Aditya Birla Fashion and Retail as its top holdings. The scheme has an AUM of Rs 12,178 crore.

Disclaimer: This article is for information purposes only and should not be considered as stock recommendation or advice to buy or sell shares of any company. Investing in the stock market can be risky. It is therefore advisable to research well or consult an investment advisor before investing in shares, derivatives or any other such financial instruments traded on the exchanges.

 


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