Mid-cap funds with best returns in last year
The last year saw a major upsurge in the equity market owing to which the frontline indices have generated a return of over fifty per cent. Nevertheless, broader market indices have generated returns even better than frontline indices. Mid-cap and small-cap indices generated returns above 70 per cent and 80 per cent respectively in the same period.
21 mid-cap dedicated funds have completed more than three years. On average, they have generated a return of 67.34 per cent. The best performing fund has been PGIM India Midcap Opportunities Fund that generated a return of 92.36 per cent last year while the worst performing fund was DSP Midcap Fund that generated a return of just 51.27 per cent.
Against the commonly perceived notion that higher-rated funds generate better returns; we saw many lower-rated funds gave better returns than the higher-rated funds.
Following is a table with lower-rated funds generating better returns than higher-rated funds.
|
Scheme Name
|
Crisil Rating
|
MorningStar Rating
|
Value Research Rating
|
AuM (Cr)
|
Wt* Rating
|
One Year Returns (%)
|
|
SBI Magnum Midcap Fund - Direct Plan
|
4
|
2
|
2
|
5,928.65
|
3
|
76.54
|
|
Mahindra Manulife Mid Cap Unnati Yojana - Direct Plan
|
2
|
2
|
1
|
3,193.33
|
2
|
70.83
|
|
Sundaram Mid Cap Fund - Direct Plan
|
1
|
2
|
1
|
6,783.54
|
1
|
62.2
|
* equal-weighted rating of all the agencies
Following is a table with higher-rated funds generating returns lower than lower-rated funds.
|
Scheme Name
|
Crisil Rating
|
MorningStar Rating
|
Value Research Rating
|
AuM (Cr)
|
Wt Rating
|
One Year Returns (%)
|
|
DSP Midcap Fund - Direct Plan
|
3
|
4
|
4
|
13,457.43
|
4
|
51.27
|
|
Invesco India Mid Cap Fund - Direct Plan
|
3
|
4
|
4
|
1,860.70
|
4
|
61.06
|
|
Axis Midcap Fund - Direct Plan
|
3
|
5
|
5
|
13,834.27
|
4
|
66.06
|