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Fincash » L&T Emerging Businesses Fund Vs L&T Midcap Fund

L&T Emerging Businesses Fund Vs L&T Mid Cap Fund

Updated on July 14, 2025 , 3836 views

L&T Emerging Businesses Fund and L&T Midcap Fund both belong to the same category of the mid & small-cap category of Equity Funds. However, L&T Emerging Businesses Fund predominantly invests its corpus in equity and equity-related instruments of small-cap companies, while L&T Midcap Fund invests its corpus in shares of midcap companies. As a consequence, there are some differences between both the schemes. In short, small-cap companies are the ones whose Market capitalization is less than INR 500 Crores. On the other hand, the market capitalization of mid-cap companies ranges between INR 500 – INR 10,000 Crores. Though both the schemes belong to the same category, they differ on account of numerous parameters. So, let’s understand the differences between both the schemes through this article.

About L&T Emerging Businesses Fund

The investment objective of L&T Emerging Businesses Fund is to generate long-term Capital growth from a diversified Portfolio consisting of equity-related securities predominantly focusing on small-cap companies. This scheme is jointly managed by Mr. S. N. Lahiri and Mr. Karan Desai. L&T Emerging Businesses Fund was incepted on May 13, 2014. Some of the advantages of L&T Emerging Businesses Fund include style diversifier, suitable for investors seeking higher returns, and an experienced investment team. The scheme uses S&P BSE small cap TRI as its benchmark to construct its portfolio.

Supreme Industries Limited, Swaraj Engines Limited, NOCIL Limited, Future Retail Limited, are some of the holdings of L&T Emerging Businesses Fund as of March 31, 2018.

About L&T Midcap Fund

L&T Midcap Fund is also a part of L&T Mutual Fund that primarily focuses to invest in mid-cap stocks. L&T Midcap Fund uses Nifty Free Float Midcap 100 Index to construct its portfolio. This scheme was incepted in the month of August 2004 and is managed by Mr. S. N. Lahiri and Mr. Vihang Naik. As per the scheme’s Asset Allocation objective, it invests around 80-100% of its corpus in shares of mid-cap companies while the remaining in fixed Income and money market instruments. The scheme invests in stocks that form part of its benchmark index.

The top constituents of L&T Midcap Fund’s portfolio (as on 31st March'18) included Cholamandalam Investment and Finance Company Limited, The Ramco Cements Limited, Berger Paints India Limited, Graphite India Limited, and IndusInd Bank Limited.

L&T Emerging Businesses Fund Vs L&T Midcap Fund

Though L&T Emerging Businesses Fund and L&T Midcap Fund belong to the same category, nevertheless; they differ on various parameters. So, let’s understand the differences between both the schemes by comparing these parameters that are classified into four sections which are as follows.

Basics Section

It is the first section in the comparison of the schemes that includes elements such as Fincash Rating, current NAV, and scheme category.

The comparison of Fincash Rating reveals that L&T Emerging Businesses Fund is rated as 5-Star, while L&T Midcap Fund is rated as 4-Star scheme.

With respect to NAV, it can be said that there is a drastic difference between both the schemes. As on April 24, 2018, the NAV of L&T Emerging Businesses Fund was approximately INR 28 while of L&T Midcap Fund is around INR 147. The comparison of scheme category reveals that both the schemes belong to the same category, that is, Equity Mid & Small Cap. The table given below shows the summarized comparison 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
L&T Emerging Businesses Fund
Growth
Fund Details
₹85.4091 ↑ 0.17   (0.20 %)
₹16,061 on 31 May 25
12 May 14
Equity
Small Cap
2
High
1.73
0.02
-0.39
-3.97
Not Available
0-1 Years (1%),1 Years and above(NIL)
Essel Long Term Advantage Fund
Growth
Fund Details
₹29.0621 ↓ -0.05   (-0.16 %)
₹57 on 31 May 25
30 Dec 15
Not Rated
Equity
ELSS
Moderately High
2.11
0.14
-1.01
-1.1
Not Available
NIL

Performance Section

It is the second section in the comparison that analyses the difference in the Compounded Annual Growth Rate or CAGR returns of both the schemes. This CAGR return is compared at different time intervals such as 3 Month Return, 6 Month Return, 3 Year Return, and 5 Year Return. The comparison of the performance section reveals that L&T Emerging Businesses Fund leads the race in most of the instances. The summary comparison of the performance section is tabulated as follows.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
L&T Emerging Businesses Fund
Growth
Fund Details
3.9%
16.4%
2.5%
-1.7%
26.3%
35.4%
21.1%
Essel Long Term Advantage Fund
Growth
Fund Details
0.5%
8%
4.8%
-2.8%
16.5%
17.7%
11.8%

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Yearly Performance Section

The comparison of Absolute Returns generated by both the schemes for a particular year is done in the yearly performance section. The comparison of yearly performance section reveals that L&T Emerging Businesses Fund leads the race. The table given below shows the summary comparison of the yearly performance section.

Parameters
Yearly Performance2024
2023
2022
2021
2020
L&T Emerging Businesses Fund
Growth
Fund Details
28.5%
46.1%
1%
77.4%
15.5%
Essel Long Term Advantage Fund
Growth
Fund Details
11.8%
24.1%
-2%
29.4%
8.5%

Other Details Section

It is the last section in the comparison that includes elements such as AUM, minimum SIP and lumpsum investment. The minimum SIP and lumpsum investment for both the schemes are same. With respect to minimum SIP amount, it is INR 500 for both the schemes and for the lumpsum amount, it is INR 5,000. However, the comparison of AUM reveals a difference between both the schemes.

As on March 31, 2018, the AUM of L&T Emerging Businesses Fund is around INR 4,404 Crores. On the other hand, for L&T Midcap Fund, the AUM is approximately INR 2,403 Crores.

The summary comparison of the other details section is as shown in the table given below.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
L&T Emerging Businesses Fund
Growth
Fund Details
₹500
₹5,000
Venugopal Manghat - 5.46 Yr.
Essel Long Term Advantage Fund
Growth
Fund Details
₹500
₹500
Ashutosh Shirwaikar - 1.84 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
L&T Emerging Businesses Fund
Growth
Fund Details
DateValue
30 Jun 20₹10,000
30 Jun 21₹20,185
30 Jun 22₹22,103
30 Jun 23₹29,592
30 Jun 24₹45,892
30 Jun 25₹45,349
Growth of 10,000 investment over the years.
Essel Long Term Advantage Fund
Growth
Fund Details
DateValue
30 Jun 20₹10,000
30 Jun 21₹14,489
30 Jun 22₹14,172
30 Jun 23₹17,542
30 Jun 24₹22,850
30 Jun 25₹23,033

Detailed Assets & Holdings Comparison

Asset Allocation
L&T Emerging Businesses Fund
Growth
Fund Details
Asset ClassValue
Cash3.42%
Equity96.58%
Equity Sector Allocation
SectorValue
Industrials28.92%
Financial Services16.18%
Consumer Cyclical15.6%
Basic Materials11.06%
Technology8.65%
Health Care7.18%
Consumer Defensive4.31%
Real Estate3.79%
Energy0.9%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Aditya Birla Real Estate Ltd (Basic Materials)
Equity, Since 30 Sep 22 | ABREL
2%₹348 Cr1,595,574
Techno Electric & Engineering Co Ltd (Industrials)
Equity, Since 31 Jan 19 | TECHNOE
2%₹340 Cr2,414,100
↑ 129,138
K.P.R. Mill Ltd (Consumer Cyclical)
Equity, Since 28 Feb 15 | KPRMILL
2%₹335 Cr2,972,250
↓ -545,950
Nippon Life India Asset Management Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Aug 24 | NAM-INDIA
2%₹329 Cr4,446,300
Multi Commodity Exchange of India Ltd (Financial Services)
Equity, Since 29 Feb 24 | MCX
2%₹316 Cr479,200
↑ 24,050
The Federal Bank Ltd (Financial Services)
Equity, Since 30 Sep 22 | FEDERALBNK
2%₹314 Cr15,544,000
Jyoti CNC Automation Ltd (Industrials)
Equity, Since 31 Jan 24 | JYOTICNC
2%₹300 Cr2,317,401
PNB Housing Finance Ltd (Financial Services)
Equity, Since 31 Jul 24 | PNBHOUSING
2%₹268 Cr2,566,200
Neuland Laboratories Ltd (Healthcare)
Equity, Since 31 Jan 24 | NEULANDLAB
2%₹266 Cr231,110
↓ -30,267
Karur Vysya Bank Ltd (Financial Services)
Equity, Since 31 Oct 22 | KARURVYSYA
2%₹264 Cr11,912,400
Asset Allocation
Essel Long Term Advantage Fund
Growth
Fund Details
Asset ClassValue
Cash4.61%
Equity95.39%
Equity Sector Allocation
SectorValue
Financial Services21.44%
Industrials19.8%
Technology11.94%
Health Care11.87%
Consumer Defensive8.43%
Energy5.79%
Communication Services5.65%
Basic Materials5.63%
Consumer Cyclical4.85%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 19 | RELIANCE
5%₹3 Cr18,536
Persistent Systems Ltd (Technology)
Equity, Since 31 Jul 22 | PERSISTENT
4%₹2 Cr4,400
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jul 18 | AXISBANK
4%₹2 Cr19,500
Infosys Ltd (Technology)
Equity, Since 30 Apr 20 | INFY
4%₹2 Cr13,000
Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 30 Sep 22 | HAL
4%₹2 Cr4,000
↓ -1,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Mar 16 | ICICIBANK
3%₹2 Cr13,609
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
3%₹2 Cr10,000
Suzlon Energy Ltd (Industrials)
Equity, Since 31 Jan 25 | SUZLON
3%₹2 Cr250,000
Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 28 Feb 21 | SUNPHARMA
3%₹2 Cr10,500
State Bank of India (Financial Services)
Equity, Since 31 Aug 21 | SBIN
3%₹2 Cr21,000

Therefore, it can be concluded in a nutshell, that both L&T Emerging Businesses Fund and L&T Midcap Fund differ on account of various parameters. As a result, individuals should be careful while making their investment decisions. They should understand the functioning of a scheme completely before they invest their money in it. Investors should also ensure whether the schemes chosen matches their investment objective or not. This will help them to ensure that their money is safe and their objectives are met on time.

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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