Midcap Mutual Funds: 79% Have Beaten Their Averages for a Year Now
An analysis recently done for the performance of midcap mutual fund schemes reflects the fact that about 79 per cent of them have outperformed their benchmarks over the last one year, that is 23 out of the 29. Only six in the midcap category had lags and fell behind the marks set.
The best performers among the lot were Aditya Birla Sun Life Midcap Fund, which clocked 18.14%, against its benchmark, Nifty Midcap 150 – TRI, at 17.16%. Axis Midcap Fund and Bandhan Midcap Fund, which both benchmark against BSE 150 MidCap – TRI, were also outperformers.
Franklin India Prima Fund and HDFC Mid-Cap Opportunities Fund have shown remarkable returns of 24.68% and 20.52%, respectively, compared to their benchmark, Nifty Midcap 150 – TRI, which returned 17.16% over the same period.
Kotak Emerging Equity Fund was one of the second-largest midcap funds by assets under management, which posted a stellar 26.61% return. It also left its benchmark way behind. Mahindra Manulife Mid Cap Fund was able to outperform its benchmark for the period.
Motilal Oswal Midcap Fund and Nippon India Growth Fund were notable outperformers, delivering returns of 36.17% and 21.41%, respectively, compared to the 17.16% return of their benchmark, Nifty Midcap 150 – TRI. SBI Magnum Midcap Fund and Sundaram Midcap Fund also delivered above-benchmark returns during the same period.
On the other hand, some schemes fared below their benchmarks. Mirae Asset Midcap Fund returned 13.87%, missing the benchmark Nifty Midcap 150 – TRI by 17.16%. Also, PGIM India Midcap Opportunities Fund and Quant Midcap Fund lagged behind their respective benchmarks in the same period.
Tata Mid Cap Growth Fund and Taurus Mid Cap Fund delivered returns of 16.62% and 6.78%, respectively, and underperformed their benchmark, Nifty Midcap 150 – TRI, which gained 17.16%. UTI Mid Cap Fund also trailed its benchmark during the same period.
The average return on midcap funds has been 21.11% over the last one year and outperformed the respective benchmark indexes, namely, Nifty Midcap 150 – TRI and BSE 150 MidCap – TRI that have yielded 17.16% and 18.21% respectively.
All regular and growth options of midcap funds had formed a part of this analysis for one-year performance compared with their respective benchmarks. While this exercise points to the relative performance of the midcap funds, it is not meant to be an investment recommendation. These are for investors who make the right decision based on their risk appetite, financial goals, and horizon of investments and not based on past performances or benchmark comparisons.
