Mid Cap Funds : Toppers in 2023
Source: ACE MF, Trailing returns as on December 11, 2023Around 12 schemes have offered over 35% in 2023. Nippon India Growth Fund, the topper in the category, offered 43.51%. JM Midcap Fund gave around 42.41%.
Mahindra Manulife Mid Cap Fund offered 41.70% in 2023. HDFC Mid-Cap Opportunities Fund, the largest scheme in the category based on assets managed, offered 40.94%. The scheme manages assets of Rs 52,137.70 crore.
ETMutualFunds also compared the performance of toppers with their respective benchmarks. Around seven schemes have failed to beat their respective benchmarks. That indicates that only five schemes managed to beat their benchmarks in 2023.
The mid cap schemes are benchmarked against Nifty Midcap 100 – TRI, Nifty Midcap 150 – TRI, and S&P BSE 150 MidCap – TRI. Nifty Midcap 100 – TRI, Nifty Midcap 150 – TRI, and S&P BSE 150 MidCap – TRI offered 42.91%, 40.22%, and 38.08% respectively in 2023.
According to the Amfi data, the mid cap category in 2023 has witnessed an inflow of Rs 21,519.98 crore. The category received the highest inflow of Rs 2,665.73 crore in November.
The asset under management of mid cap category as on November 30,2023 was at Rs 2.64 lakh crore. The asset under management of mid cap category has surged by approximately 44.36% in 2023 from Rs 1.83 lakh crore in January to Rs 2.64 lakh crore in November.
Note, the above exercise is not a recommendation. The purpose of the exercise was to find how the toppers in the mid cap category performed in 2023. One should not make investment or redemption decisions based on the above exercise.
If you are looking for recommendations, see:
Best mid cap mutual funds to invest in 2023
