Launched in 2002, Sundaram Mid Cap Fund (Earlier known as Sundaram Select Midcap Fund) has offered 22.90% in 20 years, 18.24% in 10 years, 12.01% in five years, and 28.78% in three years. During the same periods, the benchmark (Nifty Midcap 100 – TRI) offered 19.58%, 18.60%, 16.10%, and 35.15% respectively. This shows that the scheme has outperformed its benchmark only in the 20-year horizon.
The scheme also achieved another milestone recently. The NAV of the scheme crossed Rs 800-mark on June 16, 2023. The current NAV of the fund’s regular plan is 845.04, while that of the direct plan is 907.36. Sundaram Mid Cap Fund is the third scheme in the category to cross the 800-mark. The other two schemes to cross this mark are Nippon India Growth Fund and Franklin India Prima Fund with NAV of 2519.91 and 1730.24 respectively.
An investment of Rs 1 lakh at the time of launch would have now grown to Rs 84.50 lakh with a CAGR of 23.51%. An SIP of Rs 1,000 since inception would have now become Rs 25.95 lakh. A monthly SIP for a period of 10 years would have offered 14.71% returns. In the seven year horizon, the scheme offered an XIRR return of 14.10%. In the five year horizon, the scheme offered XIRR returns of around 18.51%. In the three-year horizon, the scheme has offered 20.36% SIP returns.
Among seven mid cap schemes that have completed 20 years, Sundaram Mid Cap Fund ranked first among its peers and offered 22.90% returns. Sundaram Mid Cap Fund ranked 16 among 18 mid cap schemes that have completed 10 years, and offered 18.24% returns. The scheme ranked 19 amongst 22 mid cap schemes that have completed five years and offered 12.01% returns. Among 24 mid schemes that have completed three years, Sundaram Mid Cap Fund ranked 17 and offered 28.78% return.
The scheme is managed by S. Bharath and Ratish Varier. The portfolio of the fund is diversified across 66 stocks, with top 10 stocks accounting for 27.09%. As on June 31, the fund has 94.95% allocation to equity, and 5.04% in others which include cash and cash equivalents. The scheme is primarily mid cap oriented with Shriram Finance, The Federal Bank, Cummins India, and Navin Fluorine International as the top holdings.
The fund follows a combination of bottom-up approach towards investing / identifying individual stocks and a top-down approach towards investing / identifying sectors so that the resultant portfolio is well diversified.
As per the scheme information document with data as on March 31, 2023, the scheme has 2,89,917 folios, the highest among all open-ended equity schemes offered by the fund house.
