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Best Small & Midcap Equity Mutual Funds 2024
Mid and small cap Mutual Funds are a well-known plan due to its potential of delivering good profits in the long-run. These funds are also considered as one of the best wealth creation tools for long-term investment goals. Investors can plan their various goals like Retirement planning, a child's higher education or a purchase of house/car, etc. Mid and Small cap funds are a type of Mutual Funds that invest in stocks of mid to small sized companies.
These funds are typically defined as firms with a Market capitalization (MC=no of shares issued by the company X market price per share) of INR 1000- 500 Crore. Traditionally, mid-caps are mid-sized companies, which, if run well and have a good business strategy become tomorrow’s leaders or large-caps. In fact, mid-cap stocks outperformed both large cap and small cap stocks in the year 2015, due to lower interest rates, lower input cost, and improvement in Capital reduction. The BSE mid-cap and BSE small-cap index surged 7.43% & 6.76%, respectively, whereas, BSE Sensex fell 5.03% during the same period of time.
Investors who are keen to invest in mid & small cap funds, below are the top performing funds with an AUM size of more than 2500 Cr.
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Top 6 Best Small & Midcap Funds To Invest In 2024
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) Sundaram Small Cap Fund Growth ₹225.382
↑ 0.03 ₹3,056 3.2 15.3 50.9 28.4 22 45.3 Invesco India Mid Cap Fund Growth ₹130.57
↑ 0.04 ₹4,280 5.3 20.9 47.7 25 21.6 34.1 TATA Mid Cap Growth Fund Growth ₹374.982
↓ -0.92 ₹3,348 5.2 19.7 53.5 24.9 21.8 40.5 Aditya Birla Sun Life Midcap Fund Growth ₹663.37
↓ -1.71 ₹4,913 5 16.8 48.1 24.5 18.1 39.9 Aditya Birla Sun Life Small Cap Fund Growth ₹75.0992
↓ -0.19 ₹4,444 1.3 10.9 46.8 21.4 16.4 39.4 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 19 Apr 24 Last 3 Year Return.
(Erstwhile Sundaram SMILE Fund) To primarily achieve capital appreciation by
investing in diversified stocks that are
generally termed as small and mid-caps and
by investing in other equities. Sundaram Small Cap Fund is a Equity - Small Cap fund was launched on 15 Feb 05. It is a fund with Moderately High risk and has given a Below is the key information for Sundaram Small Cap Fund Returns up to 1 year are on The Scheme seeks to provide long term capital appreciation by investing in a portfolio that is predominantly constituted of equity and equity related instruments of mid cap companies. However, there can be no assurance that the funds objectives will be achieved. Invesco India Mid Cap Fund is a Equity - Mid Cap fund was launched on 19 Apr 07. It is a fund with Moderately High risk and has given a Below is the key information for Invesco India Mid Cap Fund Returns up to 1 year are on To provide income distribution and / or medium to long term capital gains. Investments would be focused towards mid-cap stocks. TATA Mid Cap Growth Fund is a Equity - Mid Cap fund was launched on 1 Jul 94. It is a fund with Moderately High risk and has given a Below is the key information for TATA Mid Cap Growth Fund Returns up to 1 year are on An Open ended Growth Scheme with the objective to achieve long term growth of capital at controlled level of risk by investing primarily in ‘Mid-Cap’ Stocks. The level of risk is somewhat higher than a fund focused on large and liquid stocks. Concomitantly, the aim is to generate higher returns than a fund focused on large and liquid stocks. Aditya Birla Sun Life Midcap Fund is a Equity - Mid Cap fund was launched on 3 Oct 02. It is a fund with Moderately High risk and has given a Below is the key information for Aditya Birla Sun Life Midcap Fund Returns up to 1 year are on (Erstwhile Aditya Birla Sun Life Small & Midcap Fund) An Open ended Small and Mid Cap Equity Scheme with an objective to generate consistent long-term capital appreciation by investing predominantly in equity and equity related securities of companies considered to be small and midcap. The Scheme may also invest a certain portion of its corpus in fixed income securities including money market instruments, in order to meet liquidity requirements from time to time. Aditya Birla Sun Life Small Cap Fund is a Equity - Small Cap fund was launched on 31 May 07. It is a fund with Moderately High risk and has given a Below is the key information for Aditya Birla Sun Life Small Cap Fund Returns up to 1 year are on 1. Sundaram Small Cap Fund
CAGR/Annualized return of 17.6% since its launch. Ranked 19 in Small Cap category. Return for 2023 was 45.3% , 2022 was -2.1% and 2021 was 60.3% . Sundaram Small Cap Fund
Growth Launch Date 15 Feb 05 NAV (19 Apr 24) ₹225.382 ↑ 0.03 (0.01 %) Net Assets (Cr) ₹3,056 on 29 Feb 24 Category Equity - Small Cap AMC Sundaram Asset Management Company Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.12 Sharpe Ratio 3.4 Information Ratio -0.22 Alpha Ratio 2.2 Min Investment 5,000 Min SIP Investment 100 Exit Load 0-12 Months (1%),12 Months and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹6,221 31 Mar 21 ₹12,589 31 Mar 22 ₹17,263 31 Mar 23 ₹17,238 31 Mar 24 ₹25,783 Returns for Sundaram Small Cap Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Apr 24 Duration Returns 1 Month 7.9% 3 Month 3.2% 6 Month 15.3% 1 Year 50.9% 3 Year 28.4% 5 Year 22% 10 Year 15 Year Since launch 17.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 45.3% 2022 -2.1% 2021 60.3% 2020 26.2% 2019 -6.1% 2018 -29.2% 2017 55.6% 2016 -0.1% 2015 7.8% 2014 108.7% Fund Manager information for Sundaram Small Cap Fund
Name Since Tenure Ravi Gopalakrishnan 1 Jan 22 2.25 Yr. Rohit Seksaria 1 Nov 22 1.42 Yr. Data below for Sundaram Small Cap Fund as on 29 Feb 24
Equity Sector Allocation
Sector Value Financial Services 27.33% Industrials 15.64% Consumer Cyclical 12.21% Technology 10.91% Health Care 8.37% Basic Materials 6.3% Consumer Defensive 4.76% Real Estate 3.5% Communication Services 2.19% Utility 1.36% Asset Allocation
Asset Class Value Cash 4.84% Equity 95.16% Other 0% Top Securities Holdings / Portfolio
Name Holding Value Quantity Multi Commodity Exchange of India Ltd (Financial Services)
Equity, Since 30 Jun 20 | MCX3% ₹89 Cr 235,807
↓ -28,904 Can Fin Homes Ltd (Financial Services)
Equity, Since 30 Sep 20 | CANFINHOME3% ₹85 Cr 1,102,494 KSB Ltd (Industrials)
Equity, Since 31 May 14 | KSB3% ₹85 Cr 232,356
↓ -16,214 Ujjivan Financial Services Limited
Equity, Since 31 Jan 23 | -3% ₹79 Cr 1,441,430
↑ 222,355 KEI Industries Ltd (Industrials)
Equity, Since 31 Dec 21 | KEI3% ₹79 Cr 244,791
↓ -23,789 Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Jan 20 | CHOLAHLDNG2% ₹74 Cr 700,492 Safari Industries (India) Ltd (Consumer Cyclical)
Equity, Since 28 Feb 21 | 5230252% ₹71 Cr 350,728 Power Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 23 | 5328102% ₹70 Cr 1,754,986 Greenpanel Industries Ltd Ordinary Shares (Basic Materials)
Equity, Since 31 Jul 21 | GREENPANEL2% ₹65 Cr 1,682,672
↑ 81,278 Radico Khaitan Ltd (Consumer Defensive)
Equity, Since 31 Mar 22 | RADICO2% ₹64 Cr 410,580 2. Invesco India Mid Cap Fund
CAGR/Annualized return of 16.3% since its launch. Ranked 38 in Mid Cap category. Return for 2023 was 34.1% , 2022 was 0.5% and 2021 was 43.1% . Invesco India Mid Cap Fund
Growth Launch Date 19 Apr 07 NAV (19 Apr 24) ₹130.57 ↑ 0.04 (0.03 %) Net Assets (Cr) ₹4,280 on 31 Mar 24 Category Equity - Mid Cap AMC Invesco Asset Management (India) Private Ltd Rating ☆☆ Risk Moderately High Expense Ratio 2.08 Sharpe Ratio 3.46 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹7,969 31 Mar 21 ₹14,043 31 Mar 22 ₹17,343 31 Mar 23 ₹17,319 31 Mar 24 ₹26,151 Returns for Invesco India Mid Cap Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Apr 24 Duration Returns 1 Month 8.1% 3 Month 5.3% 6 Month 20.9% 1 Year 47.7% 3 Year 25% 5 Year 21.6% 10 Year 15 Year Since launch 16.3% Historical performance (Yearly) on absolute basis
Year Returns 2023 34.1% 2022 0.5% 2021 43.1% 2020 24.4% 2019 3.8% 2018 -5.3% 2017 44.3% 2016 1.1% 2015 6.4% 2014 77% Fund Manager information for Invesco India Mid Cap Fund
Name Since Tenure Aditya Khemani 9 Nov 23 0.39 Yr. Amit Ganatra 1 Sep 23 0.58 Yr. Data below for Invesco India Mid Cap Fund as on 31 Mar 24
Equity Sector Allocation
Sector Value Consumer Cyclical 27.82% Financial Services 21.68% Industrials 14.51% Health Care 11.49% Technology 8.47% Real Estate 6.12% Basic Materials 5.02% Utility 1.98% Consumer Defensive 1.94% Asset Allocation
Asset Class Value Cash 0.96% Equity 99.04% Top Securities Holdings / Portfolio
Name Holding Value Quantity Trent Ltd (Consumer Cyclical)
Equity, Since 30 Apr 21 | 5002515% ₹212 Cr 546,046 Max Healthcare Institute Ltd Ordinary Shares (Healthcare)
Equity, Since 31 Dec 22 | MAXHEALTH4% ₹178 Cr 2,246,434 The Federal Bank Ltd (Financial Services)
Equity, Since 31 Oct 22 | FEDERALBNK4% ₹173 Cr 11,480,924
↑ 379,188 Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Mar 21 | CHOLAFIN4% ₹167 Cr 1,537,576
↑ 155,753 L&T Finance Holdings Ltd (Financial Services)
Equity, Since 31 Dec 23 | L&TFH4% ₹165 Cr 9,883,840
↑ 204,597 Apollo Tyres Ltd (Consumer Cyclical)
Equity, Since 30 Nov 22 | 5008774% ₹151 Cr 2,903,958
↑ 251,465 Kalyan Jewellers India Ltd (Consumer Cyclical)
Equity, Since 31 Dec 23 | KALYANKJIL3% ₹143 Cr 3,611,063
↑ 810,796 Max Financial Services Ltd (Financial Services)
Equity, Since 30 Nov 23 | 5002713% ₹134 Cr 1,383,185
↑ 96,625 Prestige Estates Projects Ltd (Real Estate)
Equity, Since 30 Nov 23 | PRESTIGE3% ₹132 Cr 1,134,386
↑ 97,183 Mankind Pharma Ltd (Healthcare)
Equity, Since 30 Apr 23 | 5439043% ₹128 Cr 600,883 3. TATA Mid Cap Growth Fund
CAGR/Annualized return of 12.9% since its launch. Ranked 31 in Mid Cap category. Return for 2023 was 40.5% , 2022 was 0.6% and 2021 was 40% . TATA Mid Cap Growth Fund
Growth Launch Date 1 Jul 94 NAV (19 Apr 24) ₹374.982 ↓ -0.92 (-0.25 %) Net Assets (Cr) ₹3,348 on 31 Mar 24 Category Equity - Mid Cap AMC Tata Asset Management Limited Rating ☆☆ Risk Moderately High Expense Ratio 2.15 Sharpe Ratio 3.26 Information Ratio -0.74 Alpha Ratio 3.31 Min Investment 5,000 Min SIP Investment 150 Exit Load 0-365 Days (1%),365 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹7,657 31 Mar 21 ₹13,925 31 Mar 22 ₹17,104 31 Mar 23 ₹17,083 31 Mar 24 ₹25,900 Returns for TATA Mid Cap Growth Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Apr 24 Duration Returns 1 Month 8.1% 3 Month 5.2% 6 Month 19.7% 1 Year 53.5% 3 Year 24.9% 5 Year 21.8% 10 Year 15 Year Since launch 12.9% Historical performance (Yearly) on absolute basis
Year Returns 2023 40.5% 2022 0.6% 2021 40% 2020 24.3% 2019 6.5% 2018 -13% 2017 49.8% 2016 -2.2% 2015 10.8% 2014 80% Fund Manager information for TATA Mid Cap Growth Fund
Name Since Tenure Satish Mishra 9 Mar 21 3.06 Yr. Data below for TATA Mid Cap Growth Fund as on 31 Mar 24
Equity Sector Allocation
Sector Value Industrials 34.49% Financial Services 16.97% Health Care 11.54% Basic Materials 9.77% Consumer Cyclical 9.08% Real Estate 6.54% Technology 4.02% Consumer Defensive 2.16% Energy 1.62% Communication Services 1.25% Utility 1.11% Asset Allocation
Asset Class Value Cash 1.44% Equity 98.56% Top Securities Holdings / Portfolio
Name Holding Value Quantity Thermax Ltd (Industrials)
Equity, Since 30 Apr 21 | THERMAX3% ₹108 Cr 296,518
↓ -35,351 Cummins India Ltd (Industrials)
Equity, Since 31 Mar 21 | 5004803% ₹104 Cr 380,000
↓ -70,000 Aurobindo Pharma Ltd (Healthcare)
Equity, Since 30 Jun 23 | AUROPHARMA3% ₹103 Cr 1,000,000 Bharat Heavy Electricals Ltd (Industrials)
Equity, Since 30 Sep 22 | 5001033% ₹96 Cr 4,200,000 PI Industries Ltd (Basic Materials)
Equity, Since 31 Dec 15 | PIIND3% ₹92 Cr 250,000 CreditAccess Grameen Ltd Ordinary Shares (Financial Services)
Equity, Since 30 Nov 22 | CREDITACC3% ₹88 Cr 600,000 Kajaria Ceramics Ltd (Industrials)
Equity, Since 30 Jun 22 | 5002333% ₹86 Cr 670,000
↑ 30,000 Bharat Electronics Ltd (Industrials)
Equity, Since 31 Jul 22 | BEL2% ₹82 Cr 4,000,000
↑ 500,000 Lupin Ltd (Healthcare)
Equity, Since 31 Dec 22 | 5002572% ₹81 Cr 500,000 Birlasoft Ltd (Technology)
Equity, Since 30 Jun 23 | BSOFT2% ₹81 Cr 1,040,228 4. Aditya Birla Sun Life Midcap Fund
CAGR/Annualized return of 21.5% since its launch. Ranked 16 in Mid Cap category. Return for 2023 was 39.9% , 2022 was -5.3% and 2021 was 50.4% . Aditya Birla Sun Life Midcap Fund
Growth Launch Date 3 Oct 02 NAV (19 Apr 24) ₹663.37 ↓ -1.71 (-0.26 %) Net Assets (Cr) ₹4,913 on 31 Mar 24 Category Equity - Mid Cap AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.07 Sharpe Ratio 2.68 Information Ratio -0.94 Alpha Ratio -3.17 Min Investment 1,000 Min SIP Investment 1,000 Exit Load 0-365 Days (1%),365 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹6,636 31 Mar 21 ₹12,022 31 Mar 22 ₹15,714 31 Mar 23 ₹14,823 31 Mar 24 ₹21,721 Returns for Aditya Birla Sun Life Midcap Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Apr 24 Duration Returns 1 Month 8.5% 3 Month 5% 6 Month 16.8% 1 Year 48.1% 3 Year 24.5% 5 Year 18.1% 10 Year 15 Year Since launch 21.5% Historical performance (Yearly) on absolute basis
Year Returns 2023 39.9% 2022 -5.3% 2021 50.4% 2020 15.5% 2019 -3.7% 2018 -16% 2017 44.8% 2016 5.7% 2015 10.4% 2014 72.6% Fund Manager information for Aditya Birla Sun Life Midcap Fund
Name Since Tenure Harish Krishnan 3 Nov 23 0.41 Yr. Dhaval Joshi 21 Nov 22 1.36 Yr. Data below for Aditya Birla Sun Life Midcap Fund as on 31 Mar 24
Equity Sector Allocation
Sector Value Financial Services 18.3% Basic Materials 16.82% Industrials 16.34% Consumer Cyclical 16.12% Health Care 9.33% Technology 6.89% Utility 4.2% Consumer Defensive 3.55% Real Estate 3.11% Communication Services 3.03% Asset Allocation
Asset Class Value Cash 2.33% Equity 97.67% Top Securities Holdings / Portfolio
Name Holding Value Quantity Gujarat Fluorochemicals Ltd Ordinary Shares (Basic Materials)
Equity, Since 30 Sep 19 | FLUOROCHEM3% ₹169 Cr 457,307 Phoenix Mills Ltd (Real Estate)
Equity, Since 31 Aug 20 | 5031003% ₹155 Cr 560,844
↓ -3,547 Torrent Power Ltd (Utilities)
Equity, Since 31 Oct 19 | 5327793% ₹153 Cr 1,419,262 K.P.R. Mill Ltd (Consumer Cyclical)
Equity, Since 31 Aug 20 | KPRMILL3% ₹143 Cr 1,855,868 Fortis Healthcare Ltd (Healthcare)
Equity, Since 31 May 17 | 5328433% ₹134 Cr 3,294,435
↓ -25,000 Mphasis Ltd (Technology)
Equity, Since 31 Mar 20 | 5262993% ₹130 Cr 498,427 Coromandel International Ltd (Basic Materials)
Equity, Since 31 Aug 18 | 5063953% ₹126 Cr 1,167,738 Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Dec 14 | CHOLAHLDNG2% ₹121 Cr 1,148,702 Shriram Finance Ltd (Financial Services)
Equity, Since 30 Jun 23 | SHRIRAMFIN2% ₹114 Cr 467,029 The Federal Bank Ltd (Financial Services)
Equity, Since 31 Mar 12 | FEDERALBNK2% ₹113 Cr 7,541,948 5. Aditya Birla Sun Life Small Cap Fund
CAGR/Annualized return of 12.6% since its launch. Ranked 1 in Small Cap category. Return for 2023 was 39.4% , 2022 was -6.5% and 2021 was 51.4% . Aditya Birla Sun Life Small Cap Fund
Growth Launch Date 31 May 07 NAV (19 Apr 24) ₹75.0992 ↓ -0.19 (-0.25 %) Net Assets (Cr) ₹4,444 on 31 Mar 24 Category Equity - Small Cap AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆☆ Risk Moderately High Expense Ratio 2.08 Sharpe Ratio 2.44 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 1,000 Exit Load 0-365 Days (1%),365 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹5,668 31 Mar 21 ₹11,904 31 Mar 22 ₹14,426 31 Mar 23 ₹13,839 31 Mar 24 ₹20,221 Returns for Aditya Birla Sun Life Small Cap Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Apr 24 Duration Returns 1 Month 8.8% 3 Month 1.3% 6 Month 10.9% 1 Year 46.8% 3 Year 21.4% 5 Year 16.4% 10 Year 15 Year Since launch 12.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 39.4% 2022 -6.5% 2021 51.4% 2020 19.8% 2019 -11.5% 2018 -22.6% 2017 56.7% 2016 9.7% 2015 13.4% 2014 66.3% Fund Manager information for Aditya Birla Sun Life Small Cap Fund
Name Since Tenure Vishal Gajwani 4 Oct 22 1.49 Yr. Dhaval Joshi 21 Nov 22 1.36 Yr. Data below for Aditya Birla Sun Life Small Cap Fund as on 31 Mar 24
Equity Sector Allocation
Sector Value Industrials 26.68% Consumer Cyclical 18.69% Financial Services 14.94% Technology 9.54% Basic Materials 8.1% Health Care 7.12% Consumer Defensive 5.1% Real Estate 4.84% Communication Services 0.7% Asset Allocation
Asset Class Value Cash 3.9% Equity 96.1% Top Securities Holdings / Portfolio
Name Holding Value Quantity JK Cement Ltd (Basic Materials)
Equity, Since 31 Mar 18 | JKCEMENT3% ₹156 Cr 346,400 Hitachi Energy India Ltd Ordinary Shares (Technology)
Equity, Since 30 Sep 20 | POWERINDIA2% ₹134 Cr 223,165 Sanofi India Ltd (Healthcare)
Equity, Since 31 Jul 21 | SANOFI2% ₹128 Cr 149,109 TeamLease Services Ltd (Industrials)
Equity, Since 30 Jun 23 | TEAMLEASE2% ₹117 Cr 389,550 Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Dec 18 | CHOLAHLDNG2% ₹113 Cr 1,072,811 R R Kabel Ltd (Industrials)
Equity, Since 30 Sep 23 | 5439812% ₹107 Cr 740,047
↑ 45,000 TD Power Systems Ltd (Industrials)
Equity, Since 30 Jun 23 | TDPOWERSYS2% ₹105 Cr 3,529,376 Go Fashion (India) Ltd (Consumer Cyclical)
Equity, Since 30 Nov 21 | 5434012% ₹104 Cr 917,687 Brigade Enterprises Ltd (Real Estate)
Equity, Since 30 Jun 21 | 5329292% ₹102 Cr 1,023,617 Tega Industries Ltd (Industrials)
Equity, Since 31 Dec 21 | 5434132% ₹100 Cr 856,177
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