Small-cap/midcap funds continue to outperform in FY22, despite dropping equity markets, which is a time when investors should be cautious about making new equity investments. In the previous three months, both the mid and small-cap mutual fund categories lost more than 2%, and both have lost 8% in the last week. Increased volatility may lead to worse performance across sectors and market segments in the short term, but ICICI Securities remains bullish on the midcap/small-cap segment in the medium to long term.
"If you are an aggressive investor, slowly start SIP in midcap or small cap funds with an investment horizon of more than five years, with the expectation that they may underperform or fall more in the near term if overall markets continue to fall or trade with a negative bias," according to ICICI Securities in a recent research report. So, here are three mid-cap funds that have delivered SIP returns of more than 50% over the last three years.
Quant Mid Cap Fund Growth Option Direct Plan
Value Research has given Quant Mid Cap Fund Direct Growth a 5-star rating, and the fund was formed on January 7, 2013. As of May 24, 2022, Quant Mid Cap Fund Direct-Growth had a 0.57 percent cost ratio, 460 crores in assets under management (AUM), and a NAV of 125.06. The Quant Mid Cap Fund's 1-year direct growth returns are 18.84 percent, compared to 8.62 percent for the Nifty 50 benchmark index. The fund's holdings are spread across the service, healthcare, construction, consumer staples, and communication sectors. The fund's top five holdings are Indian Hotels Co. Ltd., Ruchi Soya Inds. Ltd., Tata Communications Ltd., Oracle Financial Services Software Ltd., and Reliance Industries Ltd.
PGIM India Midcap Opportunities Fund - Direct Plan - Growth
This fund has a 5-star rating from Value Research, and it was created on December 2, 2013. PGIM India Midcap Opportunities Fund Direct-Growth has a low cost ratio of 0.46 percent and assets under management (AUM) of 5,012 crores as of 31 March 2022, with a NAV of 43.14 as of 24 May 2022. The PGIM India Midcap Opportunities Fund has a 1-year direct growth return of 14.89%, compared to 8.62% for the benchmark index Nifty 50. Persistent Systems Ltd., HDFC Bank Ltd., TVS Motor Co. Ltd., Federal Bank Ltd., and Odisha Cement Ltd. are among the fund's top five holdings in the Financial, Capital Goods, Materials, Automobile, and Technology sectors.
SBI Magnum Midcap Fund - Direct Plan - Growth
SBI Magnum Midcap Fund was established on January 2, 2013, and Value Research has assigned it a 3-star rating. SBI Magnum Mid Cap Direct Plan-Growth returns in the previous year were 16.42 percent, compared to 8.62 percent for the benchmark index Nifty 50, despite the fund's high expense ratio of 1.01 percent. SBI Magnum Mid Cap Direct Plan-Growth has a total assets under management (AUM) of 7,136 crores as of 31/03/2022, and a net asset value (NAV) of 142.92 as of 24th May 2022. The car, financial, capital goods, consumer discretionary, and services sectors account for the majority of the fund's assets. The top five holdings of the fund are Sheela Foam Ltd., Page Industries Ltd., TI Financial Holdings Ltd., Schaeffler India Ltd., and Thermax Ltd.
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