Akash Jha
Mid-cap companies are publicly traded entities whose market capitalization ranks between 101 and 250. Typically, these companies are in the expansion phase of the business cycle and have the potential to become multibaggers in the future. Mid-cap funds are mutual funds that invest in mid-sized corporations. In India, there are plenty of best-performing mid-cap mutual funds that have delivered remarkable returns. Here is a comprehensive overview of several of them.
1. Quant Mid Cap Fund
Quant Mid Cap Fund was established in 2001 and has approximately 1,550 crores in Assets Under Management (AUM) at present. The mutual fund invests in the leading mid-cap companies across ten distinct industries. Financial services, consumer defense, industrials, and healthcare are among the leading sectors in which this fund has invested.
Although the expense ratio of the fund is slightly higher than average at 2.68, the returns it generates more than make up for this. In the past three-year time frame, the mutual fund has generated 37.2% returns, which makes it one of the best-performing mid-cap mutual funds in India. The Quant Mid Cap Fund’s net asset value (NAV) was 126.16 as of March 16, 2023.
2. PGIM India Mid Cap Opportunities Fund
The PGIM India Mid Cap Opportunities Fund, which was established in 2013, has invested in significant industries including industrials, financial services, consumer cyclical, and healthcare. Additionally, it has invested in six other industries. Currently, the fund’s AUM is approximately 7,707,7 and its expense ratio is 1.94.
The fund’s portfolio includes Clearing Corporation Of India, Cummins India, Kajaria Ceramics, and Ashok Leyland, among others. The PGIM India Mid Cap Opportunities fund has generated returns of 34.3% over the previous three years. The NAV of this mutual fund as of March 16, 2023 was 41.47.
3. SBI Magnum Mid Cap Fund
The SBI Magnum Mid Cap Fund, which was introduced in 2005, is one of the largest mid-cap mutual funds with an AUM of approximately 8,436 lakhs. The fund invests predominantly in consumer cyclical and financial services sectors, to which it has allocated approximately 35.1% and 15.2% of its total AUM, respectively. The remaining funds have been allocated to eight additional essential sectors.
The expense ratio of the SBI Magnum Mid Cap Fund is 2.01, which is moderately high. However, its returns over the previous three-year period, at 30.2%, have been nothing short of spectacular. This mid-cap fund from SBI is another one of the best-performing mid-cap funds in the country that you can consider investing in. As of March 16, 2023, the mutual fund’s net asset value was 142.20.
4. Edelweiss Mid Cap Fund
The Edelweiss Mid Cap Fund, which was established in 2007, has a total AUM of approximately 2530.9 crores and has invested in nine distinct industries. The top four sectors in terms of asset allocation are the industrials, financial services, consumer cyclical, and fundamental materials.
The expense ratio of the Edelweiss Mid Cap Fund is roughly 2.12, which is slightly above average. However, the returns over three years are also substantial, averaging 27.3%. As of March 16, 2023, the net asset value (NAV) of this midcap mutual fund was 50.09.
5. Motilal Oswal Midcap 30 Fund
The Motilal Oswal Midcap 30 Fund, which was introduced in 2014, is among the top-performing mid-cap mutual funds in India. The fund invests primarily in consumer cyclical, financial services, and industrials sectors, and its portfolio includes Tube Investments Of India, Campus Activewear, and Cg Power & Industrial Solutions.
In addition to the aforementioned sectors, the Motilal Oswal Midcap 30 Fund invests in seven others. As of March 16, 2023, the fund’s AUM is 3,769 crores, while its NAV is 49.43 crores. Over the past three years, the mutual fund returned approximately 26%.
Also read :- Best Mutual Funds For Lumpsum Investment In 2023
Conclusion
These are the top five performing mid-cap funds in India in which you may wish to invest. The high capital appreciation potential of mid-cap funds makes them excellent investment options. However, they contain a substantial amount of risk, which you must take into account when investing in them.
Ensure that you have an active demat account before investing in mid-cap funds or any other mutual funds. By visiting the Motilal Oswal website, you can instantaneously open a demat account and a trading account for free if you do not already have one.
