ICICI Prudential MidCap Fund Vs DSP BlackRock Midcap Fund both belong to the mid cap category of Equity Funds. These schemes invest their accumulated fund money in equity and equity-related instruments of companies having a Market capitalization between INR 500 – INR 10,000 Crores. Mid cap stocks are defined as stocks whose market capitalization is between 101st to 250th in terms of full market capitalization. Though both the schemes belong to the same category yet; there are differences with respect to their performance, AUM, NAV, and many other related factors. So, for better investment decision, let us understand the differences between ICICI Prudential MidCap Fund Vs DSP BlackRock Midcap Fund through this article.
ICICI Prudential MidCap Fund’s investment objective is to generate Capital appreciation from an active Portfolio that primarily consists of midcap stocks. Some of the key benefits of this scheme are it helps individuals to take the advantage of mid-cap stocks that have potentials of higher capital appreciation. Additionally, the scheme also complements a portfolio that is primarily focused on large-cap stocks. Mittul Kalawadia and Mrinal Singh are the joint fund managers of ICICI Prudential MidCap Fund. The scheme uses Nifty Midcap 150 TRI as its primary benchmark to construct its portfolio. Some of the top holdings of ICICI Prudential MidCap Fund as on June 30th, 2018, include Indian Hotels Co Ltd, Exide Industries Ltd, Net Current Assets, Tata Chemicals Ltd, Thomas Cook India Ltd, etc.
DSP BlackRock Midcap Fund is an open-ended equity scheme that aims to create capital appreciation in the long-term. DSP BlackRock Midcap Fund invests in a portfolio of equity and equity linked securities to ensure capital growth. Generally, DSP Midcap Fund invests in stocks of companies that have a great potential to grow as they operate on a smaller scale. Apart from this, the fund manager periodically seeks investments in other kinds of equity and equity-linked instruments to provide stable returns. Currently, DSP BlackRock Midcap Fund is managed by Vinit Sambre, Jay Kothari and Reshma Jain. Some of the top holdings of the fund as on June 30th, 2018 are Exide Industries Ltd, Cblo/Reverse Repo Investments, Edelweiss Financial Services Ltd, Manappuram Finance Ltd, etc.
The parameters or elements that are used to compare both the scheme are divided into four categories, namely, basic section, performance section, yearly performance section, and other details section. So, let us have a look at each of these parameters and see how the funds stand against each other.
The elements compared in this section include Category of Scheme, Fincash Rating, Current NAV, and much more. To begin with the scheme’s category, we can see that both the schemes belong to the same category, that is, Equity Mid Cap. Moving on the next comparison parameter, that is, Fincash Rating, it can be said that ICICI Prudential MidCap Fund has a 2-Star Rating, while DSP BlackRock Midcap Fund has 3-Star Rating. With respect to Net Asset Value, the NAV of DSP BlackRock Midcap Fund (as on 27th July 2018) was INR 55.384, and the NAV of ICICI Prudential MidCap Fund was INR 97.04.
Parameters Basics NAV Net Assets (Cr) Launch Date Rating Category Sub Cat. Category Rank Risk Expense Ratio Sharpe Ratio Information Ratio Alpha Ratio Benchmark Exit Load ICICI Prudential MidCap Fund
Growth
Fund Details ₹313.15 ↓ -1.61 (-0.51 %) ₹6,969 on 31 Jan 26 28 Oct 04 ☆☆ Equity Mid Cap 35 Moderately High 1.88 0.53 -0.16 5.44 Not Available 0-1 Years (1%),1 Years and above(NIL) DSP Midcap Fund
Growth
Fund Details ₹144.935 ↓ -1.34 (-0.92 %) ₹19,047 on 31 Jan 26 14 Nov 06 ☆☆☆ Equity Mid Cap 20 Moderately High 1.68 0.17 -0.88 -1.04 Not Available 0-12 Months (1%),12 Months and above(NIL)
As the name mentions, this scheme compares the CAGR performance of both the schemes at various time frames. Some of the timeframes for which the performance is compared are 1 Month, 3 Months, 1 Year, 5 Years, and Since Inception. When we look at the performance of both the schemes in almost all the time periods they have performed quite close. The table given below tabulates the performance of both the schemes at different timeframes.
Parameters Performance 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year Since launch ICICI Prudential MidCap Fund
Growth
Fund Details -1.2% 1.2% 6.4% 25.1% 24.6% 19.3% 17.5% DSP Midcap Fund
Growth
Fund Details -2.3% -3.2% -0.9% 16% 19.4% 13.4% 14.9%
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This category gives the absolute performance of both the schemes on a yearly Basis. If we look at the yearly bases performance, ICICI Prudential MidCap Fund has performed better in some instance as compared to DSP BlackRock Midcap Fund. The yearly performance of both the schemes is tabulated as follows.
Parameters Yearly Performance 2024 2023 2022 2021 2020 ICICI Prudential MidCap Fund
Growth
Fund Details 11.1% 27% 32.8% 3.1% 44.8% DSP Midcap Fund
Growth
Fund Details 1.7% 22.4% 38.4% -4.9% 28.3%
This section is the last section in case of comparison between both the schemes. Some of the comparison elements that form part of this section include AUM, Minimum SIP Investment, Minimum Lumpsum Investment, and Exit Load. The minimum monthly SIP investment of ICICI Prudential MidCap Fund is INR 1,000, whereas for DSP BlackRock Midcap Fund is INR 500. The minimum lump sum amount for ICICI Pru MidCap Fund is INR 5,000 and for DSP BlackRock Midcap Fund is INR 1,000. The AUM of the DSPBR Midcap Fund was INR 5,266 Cr and the AUM of ICICI Prudential MidCap Fund was INR 1,461 Cr (as on 30th June 2018). The table given below summarizes the elements of other details section.
Parameters Other Details Min SIP Investment Min Investment Fund Manager ICICI Prudential MidCap Fund
Growth
Fund Details ₹100 ₹5,000 Lalit Kumar - 3.59 Yr. DSP Midcap Fund
Growth
Fund Details ₹500 ₹1,000 Vinit Sambre - 13.59 Yr.
ICICI Prudential MidCap Fund
Growth
Fund Details Growth of 10,000 investment over the years.
Date Value 28 Feb 21 ₹10,000 28 Feb 22 ₹11,990 28 Feb 23 ₹12,607 29 Feb 24 ₹18,989 28 Feb 25 ₹19,219 28 Feb 26 ₹25,523 DSP Midcap Fund
Growth
Fund Details Growth of 10,000 investment over the years.
Date Value 28 Feb 21 ₹10,000 28 Feb 22 ₹11,276 28 Feb 23 ₹11,197 29 Feb 24 ₹15,725 28 Feb 25 ₹16,063 28 Feb 26 ₹19,941
ICICI Prudential MidCap Fund
Growth
Fund Details Asset Allocation
Asset Class Value Cash 1.55% Equity 98.45% Equity Sector Allocation
Sector Value Basic Materials 28.43% Financial Services 22.54% Industrials 21.17% Consumer Cyclical 11.64% Communication Services 6.93% Real Estate 5.62% Health Care 1.62% Technology 0.34% Utility 0.15% Top Securities Holdings / Portfolio
Name Holding Value Quantity Muthoot Finance Ltd (Financial Services)
Equity, Since 30 Nov 23 | MUTHOOTFIN5% ₹316 Cr 824,501 Jindal Steel Ltd (Basic Materials)
Equity, Since 31 Jan 22 | JINDALSTEL5% ₹315 Cr 2,786,470 Multi Commodity Exchange of India Ltd (Financial Services)
Equity, Since 30 Apr 24 | MCX4% ₹313 Cr 1,239,860 APL Apollo Tubes Ltd (Basic Materials)
Equity, Since 30 Sep 22 | APLAPOLLO4% ₹292 Cr 1,425,196 BSE Ltd (Financial Services)
Equity, Since 30 Apr 24 | BSE4% ₹283 Cr 1,011,840 Jindal Stainless Ltd (Basic Materials)
Equity, Since 31 Aug 22 | JSL4% ₹256 Cr 3,106,731 UPL Ltd (Basic Materials)
Equity, Since 31 Oct 22 | UPL4% ₹244 Cr 3,465,469 PB Fintech Ltd (Financial Services)
Equity, Since 31 May 24 | 5433903% ₹217 Cr 1,308,585 Vedanta Ltd (Basic Materials)
Equity, Since 31 Aug 24 | VEDL3% ₹213 Cr 3,128,459 Bharti Hexacom Ltd (Communication Services)
Equity, Since 30 Apr 24 | BHARTIHEXA3% ₹213 Cr 1,376,584 DSP Midcap Fund
Growth
Fund Details Asset Allocation
Asset Class Value Cash 4.07% Equity 95.93% Equity Sector Allocation
Sector Value Financial Services 22.37% Consumer Cyclical 16.7% Basic Materials 14.95% Industrials 11.89% Health Care 10.17% Technology 9.48% Communication Services 3.11% Energy 3.09% Real Estate 2.31% Consumer Defensive 1.07% Utility 0.78% Top Securities Holdings / Portfolio
Name Holding Value Quantity Coforge Ltd (Technology)
Equity, Since 31 Mar 22 | COFORGE4% ₹817 Cr 4,941,275 Ipca Laboratories Ltd (Healthcare)
Equity, Since 31 May 13 | IPCALAB3% ₹631 Cr 4,290,936
↓ -346,792 Coromandel International Ltd (Basic Materials)
Equity, Since 30 Sep 14 | COROMANDEL3% ₹521 Cr 2,282,965 Jindal Steel Ltd (Basic Materials)
Equity, Since 31 Oct 24 | JINDALSTEL3% ₹495 Cr 4,374,445 Fortis Healthcare Ltd (Healthcare)
Equity, Since 31 Jul 24 | FORTIS3% ₹487 Cr 5,713,758
↑ 42,119 Voltas Ltd (Consumer Cyclical)
Equity, Since 30 Apr 24 | VOLTAS3% ₹483 Cr 3,639,527 Max Financial Services Ltd (Financial Services)
Equity, Since 30 Jun 15 | MFSL2% ₹475 Cr 2,946,419 AU Small Finance Bank Ltd (Financial Services)
Equity, Since 31 Aug 22 | AUBANK2% ₹467 Cr 4,756,746
↓ -1,245,814 Schaeffler India Ltd (Consumer Cyclical)
Equity, Since 31 Jul 23 | SCHAEFFLER2% ₹458 Cr 1,265,170
↑ 157,443 The Federal Bank Ltd (Financial Services)
Equity, Since 31 May 16 | FEDERALBNK2% ₹452 Cr 15,691,347
Thus, from the above elements, it can be said that both the schemes differ on account of various parameters. However, it is always advised to individuals to understand a scheme’s modalities completely before Investing. They should check if the fund’s objective is in-line with theirs. They should also check various parameters such as returns, Underlying asset portfolio, fund manager managing the scheme and much more. Additionally, they can take help of a financial advisor, if required. Through this individual can ensure that their money is safe and their objectives are met timely.
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