Quant, SBI Magnum Among Top Five Mid-Cap Funds: Know Their Three-Year Returns

Indian mid-cap stocks saw robust growth over the past three years as markets emerged from the shadow of a devastating first and second pandemic wave driven by an upbeat economic outlook.

Mid-cap stocks are ranked 101-250 on the National Stock Exchange (NSE) based on their market capitalisation as per the guidelines of the Securities and Exchange Board of India (Sebi ).

You can invest in mid-cap stocks through an index or a mutual fund. An index fund invests directly in the top mid-cap stocks, while a mutual fund picks the best-performing stocks from the pool.

So, the aim is to generate high returns by investing in a basket of the best stocks. However, investing in mid-cap stocks is considered risky; hence, they suit high-risk tolerance investors. The following five mutual funds have generated the highest returns with a Systematic Investment Plan (SIP) of Rs 1,000.

Quant Mid-Cap Fund

The Quant Mid-Cap fund generated Rs 63,377 with a SIP of Rs 1,000 invested over three years. It gave a 21.79 per cent return in a year and a 32.3 per cent return in two years.

The fund, launched in January 2013, has invested 30 per cent in the services sector, 15.9 per cent in the automobile sector, and 8.2 per cent in the communications sector. The fund has allocated 99.23 per cent of its assets in equity markets, while only 0.77 per cent in liquid cash.

PGIM India Mid-Cap Opportunities Fund Direct

The fund generated Rs 62,954 with a SIP of Rs 1,000 invested over three years. It has given a 15.87 per cent return in one year and a 27.5 per cent return in two years. Its current assets under management (AUM) are Rs 6,614.4 crore. The exit load for the first 90 days is 0.50 per cent of the net asset value (NAV), and zero charges after 90 days of subscription. The fund has invested 16.2 per cent of its corpus in the capital goods sector, 15.2 per cent in the financial industry, and 12 per cent in the construction sector. It has invested 93.9 per cent assets of its assets in equity markets and 7.4 per cent in the debt market.

SBI Magnum Mid-Cap

SBI Magnum Mid-Cap has generated Rs 58,911 with a SIP of Rs 1,000 invested over three years. It returned 18.53 per cent in one year and 27.35 in two years. Its current AUM is Rs 8,043.42 crore, and the price of one unit of NAV is Rs 151.24 as of October 7. The exit load is 1 per cent of the NAV if redeemed within a year. The fund’s expense ratio is 1.01 per cent. SBI Magnum Mid-Cap has invested 16.7 per cent in the automobile sector, 13.1 per cent in the capital goods sector, and 10.6 per cent in the financial sector. The fund’s 95.4 per cent of assets are in equity markets, while 0.3 per cent are in the debt market, and 4.4 per cent are in liquid cash.

Mirae Asset Mid-Cap Fund

The fund has generated Rs 55,697 with a SIP of Rs 1,000 invested over three years. It gave an 11.2 per cent return in one year and 21.32 in two years. Its current AUM is Rs 8,498.5 crore. The exit load for the first 365 days of investment is 1 per cent of the NAV, and no exit load after a year. The fund was started in July, and it has invested 19.3 per cent in the financial sector, 12.8 per cent in the automobile sector, and 10.9 per cent in the healthcare sector. The fund’s 98.45 per cent of assets are in equity markets, while 1.55 per cent are in liquid cash.

Edelweiss Mid-Cap Fund

The fund has generated Rs 54,820 with a SIP of Rs 1,000 invested over three years. It has given a 14.35 per cent return in one year and a 21.59 per cent return in 2 years. Its current AUM is Rs 2,256.1 crore. An exit load of 1 per cent of NAV will be charged if redeemed within a year of investment. The fund has invested 22.9 per cent in the financial sector, 14.3 per cent in the capital goods sector, and 12.6 per cent in the chemicals sector. The fund’s 96.3 per cent assets are in equity markets and 4.8 per cent in the debt market.

Disclaimer: This list is based on their performance, not our recommendation. Please refer to OLM 50- Outlook Money’s hand-picked list of MFs across categories.