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Fincash » Franklin India Prima Vs L&T Midcap Fund

Franklin India Prima Fund Vs L&T Midcap Fund

Updated on July 14, 2024 , 1635 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
₹2,677.96 ↑ 6.41   (0.24 %)
₹11,011 on 31 May 24
1 Dec 93
Equity
Mid Cap
29
Moderately High
1.89
2.85
-1.34
1.22
Not Available
0-1 Years (1%),1 Years and above(NIL)
Essel Long Term Advantage Fund
Growth
Fund Details
₹29.9416 ↑ 0.03   (0.10 %)
₹62 on 31 May 24
30 Dec 15
Not Rated
Equity
ELSS
Moderately High
0
1.6
-1.04
-4.99
Not Available
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
3.8%
20.1%
25.4%
55.8%
23.2%
23.4%
20%
Essel Long Term Advantage Fund
Growth
Fund Details
4.9%
16.1%
15.9%
30.9%
16.8%
16%
13.7%

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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 Performance2023
2022
2021
2020
2019
Franklin India Prima Fund
Growth
Fund Details
36.8%
2.2%
32.6%
17.8%
3.5%
Essel Long Term Advantage Fund
Growth
Fund Details
24.1%
-2%
29.4%
8.5%
7.9%

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 - 13.34 Yr.
Essel Long Term Advantage Fund
Growth
Fund Details
₹500
₹500
Aditya Mulki - 2.23 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 Jun 19₹10,000
30 Jun 20₹8,645
30 Jun 21₹14,503
30 Jun 22₹13,441
30 Jun 23₹17,806
30 Jun 24₹27,235
Growth of 10,000 investment over the years.
Essel Long Term Advantage Fund
Growth
Fund Details
DateValue
30 Jun 19₹10,000
30 Jun 20₹8,722
30 Jun 21₹12,637
30 Jun 22₹12,360
30 Jun 23₹15,299
30 Jun 24₹19,929

Detailed Assets & Holdings Comparison

Asset Allocation
Franklin India Prima Fund
Growth
Fund Details
Asset ClassValue
Cash3.88%
Equity96.12%
Equity Sector Allocation
SectorValue
Financial Services19.96%
Industrials19.27%
Consumer Cyclical15.86%
Basic Materials12.09%
Health Care7.61%
Technology6.25%
Real Estate6.18%
Consumer Defensive5.07%
Utility1.94%
Communication Services1.34%
Energy0.73%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
The Federal Bank Ltd (Financial Services)
Equity, Since 30 Jun 20 | FEDERALBNK
3%₹380 Cr23,439,752
Bharat Electronics Ltd (Industrials)
Equity, Since 30 Sep 18 | BEL
3%₹314 Cr10,617,750
↓ -3,000,000
Prestige Estates Projects Ltd (Real Estate)
Equity, Since 31 Jan 22 | PRESTIGE
3%₹305 Cr1,909,937
↓ -21,981
Cummins India Ltd (Industrials)
Equity, Since 30 Apr 22 | 500480
3%₹281 Cr792,366
Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 31 Jan 23 | HAL
3%₹279 Cr560,000
↓ -100,000
Crompton Greaves Consumer Electricals Ltd (Consumer Cyclical)
Equity, Since 31 May 16 | CROMPTON
2%₹251 Cr6,391,052
Coromandel International Ltd (Basic Materials)
Equity, Since 31 May 11 | 506395
2%₹250 Cr1,911,228
Deepak Nitrite Ltd (Basic Materials)
Equity, Since 31 Jan 21 | DEEPAKNTR
2%₹241 Cr1,100,123
ICICI Bank Ltd (Financial Services)
Equity, Since 29 Feb 20 | ICICIBANK
2%₹239 Cr2,135,566
Emami Ltd (Consumer Defensive)
Equity, Since 30 Nov 18 | 531162
2%₹230 Cr3,676,225
Asset Allocation
Essel Long Term Advantage Fund
Growth
Fund Details
Asset ClassValue
Cash7.25%
Equity92.75%
Equity Sector Allocation
SectorValue
Financial Services24.14%
Industrials14.83%
Technology13.53%
Consumer Defensive9.79%
Consumer Cyclical8.99%
Health Care8.51%
Basic Materials4.81%
Energy4.3%
Communication Services3.85%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 30 Sep 22 | HAL
6%₹4 Cr7,900
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
5%₹3 Cr21,500
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 19 | RELIANCE
4%₹3 Cr9,268
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
4%₹2 Cr16,000
Infosys Ltd (Technology)
Equity, Since 30 Apr 20 | INFY
3%₹2 Cr15,000
↓ -10,000
UNO Minda Ltd (Consumer Cyclical)
Equity, Since 31 Aug 21 | UNOMINDA
3%₹2 Cr24,000
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 28 Feb 21 | TATAMOTORS
3%₹2 Cr22,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Mar 20 | TCS
3%₹2 Cr5,265
SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Jan 22 | SBILIFE
3%₹2 Cr13,500
State Bank of India (Financial Services)
Equity, Since 31 Aug 21 | SBIN
3%₹2 Cr21,000

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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