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Fincash » Franklin India Prima Vs L&T Midcap Fund

Franklin India Prima Fund Vs L&T Midcap Fund

Updated on October 1, 2022 , 1343 views

Franklin India Prima Fund and L&T Midcap Fund both belong to the mid-cap category of Equity Funds. mid cap funds refer to the Mutual Fund schemes who invest their corpus in equity shares of mid-cap companies having a Market capitalization ranging between INR 500 - INR 10,000 crores. These companies have the potential to grow and form part of large cap companies. Mid Cap Companies in many situations have earned more returns than large cap companies. Though Franklin India Prima Fund and L&T Midcap Fund belong to the same category of equity funds yet; they are different in terms of NAV, Assets Under Management (AUM), and other factors. So, let us understand the differences between both Franklin India Prima Fund and L&T Midcap Fund through this article.

Franklin India Prima Fund

Franklin India Prima Fund is managed by Franklin Templeton Mutual Fund and was launched on December 01, 1993. The investment objective of the scheme is classified into two, namely, primary objective and secondary objective. Its primary objective is to attain Capital growth while the secondary objective is to earn Income at regular intervals. This scheme can be chosen as a substitute for direct investment in mid-sized companies. The fund aims to identify companies having a greater potential for growth and are at early stages of business life cycles.

As on January 31, 2018, some of the Top 10 constituents of Franklin India Prima Fund include Finolex Cables Limited, SKF India Limited, Voltas Limited, and Equitas Holdings Limited.

Franklin India Prima Fund uses Nifty 50, Nifty 500, and Nifty Free Float Midcap 100 indexes to construct its portfolio.

L&T Midcap Fund

L&T Midcap Fund is an open-ended equity fund scheme whose objective is to attain growth in capital by predominantly Investing the corpus money in shares of mid-cap companies. The scheme was incepted on August 09, 2004, and it uses Nifty Free Float Midcap 100 Index to construct its portfolio.

As on January 31, 2018, some of the shares that form part of L&T Midcap Fund’s portfolio include Cholamandalam Investment and Finance Company Limited, Emami Limited, Berger Paints India Limited, Kajaria Ceramics Limited, and Jindal Steel & Power Limited.

The various criteria that L&T Midcap Fund uses to choose the shares include Management Quality, liquidity, Competitive Position, and Valuations.

Franklin India Prima Fund Vs L&T Midcap Fund

Though both of the schemes are of the same category, yet they exhibit different attributes based on different parameters such as AUM, minimum SIP investment, and so on which are divided into four sections, namely, Basics Section, Performance Section, Yearly Performance Section, and Other details Section. So, let us have a comparative study of both these schemes based on these sections.

Basics Section

Some of the comparable elements that form part of the basics section include Fincash Rating, AUM, Scheme Category, expense ratio and many more. To begin with the Scheme Category, it can be said that both the schemes belong to same Equity Mid & small cap Category.

As per Fincash Rating, it can be said that Franklin India Prima Fund is rated as 3-Star while; L&T Midcap Fund is rated as a 4-Star Fund.

The table given below summarizes the comparable parameters of the basics section.

Parameters
BasicsNAV
Net Assets (Cr)
Launch Date
Rating
Category
Sub Cat.
Category Rank
Risk
Expense Ratio
Sharpe Ratio
Information Ratio
Alpha Ratio
Benchmark
Exit Load
Franklin India Prima Fund
Growth
Fund Details
₹1,494.29 ↓ -19.59   (-1.29 %)
₹7,582 on 31 Aug 22
1 Dec 93
Equity
Mid Cap
29
Moderately High
1.88
-0.03
-2.1
-8.54
Not Available
0-1 Years (1%),1 Years and above(NIL)
L&T Midcap Fund
Growth
Fund Details
₹204.93 ↓ -1.79   (-0.87 %)
₹6,674 on 31 Aug 22
9 Aug 04
Equity
Mid Cap
5
High
1.86
-0.04
0
0
Not Available
0-1 Years (1%),1 Years and above(NIL)

Performance Section

Performance Section compares the Compounded Annual Growth Rate or CAGR performance of both the schemes at different time periods. Some of these different time periods are 1 Month Return, 1 Year Return, 5 Year Return, and Return Since Inception. On the hindsight, it can be said that at most time points, the returns generated by L&T Mutual Fund is higher as compared to the returns of Franklin India Prima Fund. The performance summary of Franklin India Prima Fund and L&T Midcap Fund is tabulated as follows.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
Franklin India Prima Fund
Growth
Fund Details
-1.1%
15.4%
3.8%
-2.9%
17.7%
10.3%
19%
L&T Midcap Fund
Growth
Fund Details
-1.8%
10.1%
0.5%
-2.5%
18%
8.5%
18.1%

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Yearly Performance Section

The Yearly Performance Section compares the absolute returns between both the schemes for a particular year. Even in case of yearly performance, it can be said that the returns generated by L&T Midcap Fund are higher as compared to Franklin India Prima Fund’s returns. the summary of yearly performance section is shown with the help of table given below.

Parameters
Yearly Performance2021
2020
2019
2018
2017
Franklin India Prima Fund
Growth
Fund Details
32.6%
17.8%
3.5%
-9.4%
39.7%
L&T Midcap Fund
Growth
Fund Details
30.4%
19%
-0.2%
-12%
52.3%

Other Details Section

This is the last section that compares the schemes on various parameters. Some of the comparable parameters that form part of this section are Minimum SIP and Lumpsum Investment. With respect to the Minimum SIP and Lumpsum Investment, it can be said that for Franklin India Prima Fund and L&T Midcap Fund, both SIP amount and Lumpsum amount are the same. The minimum SIP investment for both the schemes is INR 500 while the minimum lumpsum investment is INR 5,000.

Mr. Janakiraman Rengaraju, Mr. Hari Shyamsundar, and Mr. Srikesh Karunakaran Nair, together are the fund managers of Franklin India Prima Fund.

The fund managers who jointly manage the L&T Midcap Fund are Mr. S. N. Lahiri and Mr. Vihang Naik.

The table given below summarizes the comparison of both the schemes.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
Franklin India Prima Fund
Growth
Fund Details
₹500
₹5,000
R. Janakiraman - 14.67 Yr.
L&T Midcap Fund
Growth
Fund Details
₹500
₹5,000
Venugopal Manghat - 2.71 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
Franklin India Prima Fund
Growth
Fund Details
DateValue
30 Sep 17₹10,000
30 Sep 18₹9,844
30 Sep 19₹10,216
30 Sep 20₹10,074
30 Sep 21₹16,960
30 Sep 22₹16,638
Growth of 10,000 investment over the years.
L&T Midcap Fund
Growth
Fund Details
DateValue
30 Sep 17₹10,000
30 Sep 18₹9,573
30 Sep 19₹9,416
30 Sep 20₹10,166
30 Sep 21₹15,550
30 Sep 22₹15,288

Detailed Assets & Holdings Comparison

Asset Allocation
Franklin India Prima Fund
Growth
Fund Details
Asset ClassValue
Cash2.79%
Equity97.21%
Equity Sector Allocation
SectorValue
Consumer Cyclical23.38%
Financial Services20.28%
Basic Materials15.71%
Industrials13.91%
Health Care7.67%
Real Estate4.39%
Technology4.23%
Consumer Defensive3.34%
Utility2.6%
Communication Services1.71%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Crompton Greaves Consumer Electricals Ltd (Consumer Cyclical)
Equity, Since 31 May 16 | CROMPTON
4%₹303 Cr7,441,052
↓ -150,000
The Federal Bank Ltd (Financial Services)
Equity, Since 30 Jun 20 | FEDERALBNK
4%₹285 Cr24,369,927
ICICI Bank Ltd (Financial Services)
Equity, Since 29 Feb 20 | ICICIBANK
4%₹269 Cr3,035,566
↓ -75,000
City Union Bank Ltd (Financial Services)
Equity, Since 30 Apr 14 | CUB
3%₹230 Cr12,760,416
↓ -400,000
Ashok Leyland Ltd (Industrials)
Equity, Since 31 Aug 18 | 500477
3%₹228 Cr14,789,858
Coromandel International Ltd (Basic Materials)
Equity, Since 31 May 11 | 506395
3%₹209 Cr1,986,228
Deepak Nitrite Ltd (Basic Materials)
Equity, Since 31 Jan 21 | 506401
3%₹208 Cr1,050,123
Bharat Electronics Ltd (Industrials)
Equity, Since 30 Sep 18 | BEL
2%₹185 Cr6,039,250
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 14 | HDFCBANK
2%₹182 Cr1,223,175
Trent Ltd (Consumer Cyclical)
Equity, Since 31 Oct 17 | 500251
2%₹179 Cr1,273,937
Asset Allocation
L&T Midcap Fund
Growth
Fund Details
Asset ClassValue
Cash4.38%
Equity95.62%
Equity Sector Allocation
SectorValue
Industrials19.16%
Consumer Cyclical16.86%
Financial Services16.52%
Basic Materials15%
Health Care12.49%
Consumer Defensive4.94%
Technology3.46%
Utility2.18%
Communication Services2.17%
Real Estate1.96%
Energy0.88%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Blue Dart Express Ltd (Industrials)
Equity, Since 31 Dec 17 | 526612
4%₹290 Cr339,223
Emami Ltd (Consumer Defensive)
Equity, Since 31 Aug 13 | 531162
4%₹256 Cr5,275,057
Bayer CropScience Ltd (Basic Materials)
Equity, Since 31 May 13 | 506285
3%₹210 Cr385,382
Ratnamani Metals & Tubes Ltd (Basic Materials)
Equity, Since 31 Oct 15 | 520111
3%₹198 Cr1,063,861
Ipca Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 19 | 524494
3%₹170 Cr1,875,600
Cummins India Ltd (Industrials)
Equity, Since 30 Apr 18 | 500480
3%₹168 Cr1,404,620
CRISIL Ltd (Financial Services)
Equity, Since 31 Mar 17 | 500092
2%₹167 Cr508,000
Bosch Ltd (Consumer Cyclical)
Equity, Since 31 Oct 19 | 500530
2%₹159 Cr90,899
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 30 Nov 17 | CHOLAFIN
2%₹159 Cr2,008,600
Sundaram Finance Ltd (Financial Services)
Equity, Since 30 Nov 13 | SUNDARMFIN
2%₹156 Cr743,568

Thus, from the above parameters, it can be said that there are differences between both the funds though they belong to the same category. As a result, investors should be careful while choosing the modalities of the schemes. They should understand the modalities of the scheme completely and check whether it matches with their investment objective or not. People should also consult a financial advisor if required. This will help them to ensure that their money is safe and paves way for wealth creation.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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