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Fincash » L&T Midcap Fund Vs ABSL Midcap Fund

L&T Midcap Fund Vs Aditya Birla Sun Life Midcap Fund

Updated on June 11, 2024 , 1465 views

L&T Midcap Fund and Aditya Birla Sun Life Midcap Fund both the schemes belong to the mid-cap category of Equity Funds. mid cap funds in simple terms are the Mutual Fund schemes that invest their money in the stocks of companies having a Market capitalization between INR 500 – INR 10,000 Crores. Mid-cap schemes are considered to be a good long-term investment option. These companies have good growth potentials and if performed well, they can be the future large-cap companies. Though L&T Midcap Fund and Aditya Birla Sun Life Midcap Fund belong to the same category, yet; they differ on account of a number of differences. So, let’s understand the differences between them through this article.

L&T Midcap Fund

L&T Midcap Fund’s investment objective is to attain Capital growth in the long-term by mainly Investing the pooled money in mid-cap stocks. The scheme selects its stocks for investment that form part of the Nifty Freefloat Midcap 100 Index to formulate its Portfolio. Based on the Asset Allocation objective of the scheme, L&T Midcap Fund invests around 80-100% of the fund money in equity and equity-related securities and the remaining in fixed Income and money market instruments. The parameters that L&T Midcap Fund uses to select its stocks are management quality, competitive position, and valuations. L&T Midcap Fund is jointly managed by Mr. S. N. Lahiri and Mr. Vihang Naik. As on March 31, 2018, some of the constituents of L&T Midcap Fund’s portfolio included Sundaram Finance Limited, Berger Paints India Limited, Graphite India Limited, and the Federal Bank Limited.

Aditya Birla Sun Life Midcap Fund

Aditya Birla Sun Life (ABSL) Midcap Fund is a part of ABSL Mutual Fund and was incepted on October 02, 2002. This open-ended mid-cap fund can be an apt choice for individuals seeking long-term capital growth by investing in mid-cap stocks. The scheme aims to provide investors a chance to invest in mid-cap companies that can be potential leaders of tomorrow. The highlights of ABSL Midcap Fund are long-term capital growth and investment in stocks with higher growth potentials. TeamLease Services Limited, Mahindra CIE Automotive Limited, Bharat Electronics Limited, and Gujrat State Petronet Limited are some of the top 10 constituents of this scheme of ABSL Mutual Fund as on March 31, 2018. Mr. Jayesh Gandhi is the sole fund manager of ABSL Midcap Fund.

L&T Midcap Fund Vs Aditya Birla Sun Life Midcap Fund

The various parameters that differentiate L&T Midcap Fund and ABSL Midcap Fund are classified into four sections, namely, basics section, performance section, yearly performance section, and other details section. These sections are explained as follows.

Basics Section

Basics section is the first section in the comparison of the schemes that includes parameters such as Fincash Rating, scheme category, and current NAV. To begin with the Fincash Rating, it can be said that L&T Midcap Fund is rated as 4-Star and ABSL Midcap Fund is rated as 3-Star. The comparison of scheme category reveals that both the schemes belong to the same category of Equity Mid & small cap. However, in case of NAV, both the schemes differ drastically. As on May 02, 2018, the NAV of L&T Mutual Fund’s scheme was nearly INR 147 while of ABSL Mutual Fund’s scheme was around INR 320. The summary comparison of the basics section is listed below as follows.

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
Essel Long Term Advantage Fund
Growth
Fund Details
₹28.2581 ↑ 0.18   (0.63 %)
₹62 on 30 Apr 24
30 Dec 15
Not Rated
Equity
ELSS
Moderately High
0
1.89
-1.21
-5.13
Not Available
NIL
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
₹744.39 ↑ 7.44   (1.01 %)
₹5,303 on 30 Apr 24
3 Oct 02
Equity
Mid Cap
16
Moderately High
2.07
2.78
-0.77
-2.08
Not Available
0-365 Days (1%),365 Days and above(NIL)

Performance Section

Being the second section, it compares the CAGR or Compounded Annual Growth Rate returns of both the schemes. These CAGR returns are compared at different time intervals such as 3 Year Return, 5 Year Return, and Return since Inception. On the Basis of performance, it can be said that, in most of the instances, L&T Midcap Fund leads the race. The table given below summarizes the comparison of the performance section.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
Essel Long Term Advantage Fund
Growth
Fund Details
8.3%
11.8%
14%
28.8%
15.2%
14.1%
13.1%
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
11.3%
22.1%
22.7%
50.5%
23.4%
21.1%
22%

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Yearly Performance Section

This section compares the absolute returns generated by both the schemes for a particular year. The comparison of yearly performance section also shows that in most of the years, L&T Midcap Fund has performed better as compared to ABSL Midcap Fund. The comparison summary of the yearly performance section is tabulated as follows.

Parameters
Yearly Performance2023
2022
2021
2020
2019
Essel Long Term Advantage Fund
Growth
Fund Details
24.1%
-2%
29.4%
8.5%
7.9%
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
39.9%
-5.3%
50.4%
15.5%
-3.7%

Other Details Section

The parameters forming part of this section includes AUM, minimum SIP and lumpsum investment, and exit load. Both the schemes differ on the basis of AUM. As on March 31, 2018, the AUM of L&T Midcap Fund 2,403 Crores and of ABSL Midcap Fund is around 2,229 Crores. The minimum SIP and lumpsum investment are also different for both the schemes. In case of L&T’s scheme, the SIP and lumpsum amounts are INR 500 and INR 5,000 respectively. However, for ABSL Midcap Fund, both SIP and lumpsum amounts are INR 1,000 only. The exit load of both the schemes are also same. The summary comparison of the other details section is tabulated as follows.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
Essel Long Term Advantage Fund
Growth
Fund Details
₹500
₹500
Aditya Mulki - 2.14 Yr.
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
₹1,000
₹1,000
Harish Krishnan - 0.49 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
Essel Long Term Advantage Fund
Growth
Fund Details
DateValue
31 May 19₹10,000
31 May 20₹7,884
31 May 21₹12,166
31 May 22₹12,877
31 May 23₹14,408
31 May 24₹18,029
Growth of 10,000 investment over the years.
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
DateValue
31 May 19₹10,000
31 May 20₹7,181
31 May 21₹12,988
31 May 22₹15,041
31 May 23₹16,636
31 May 24₹23,852

Detailed portfolio Comparison

Asset Allocation
Essel Long Term Advantage Fund
Growth
Fund Details
Asset ClassValue
Cash4.88%
Equity95.12%
Equity Sector Allocation
SectorValue
Financial Services24.76%
Technology15.54%
Industrials13%
Health Care11.19%
Consumer Defensive9%
Consumer Cyclical8.66%
Basic Materials4.86%
Energy4.41%
Communication Services3.71%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 30 Apr 20 | INFY
6%₹4 Cr25,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
5%₹3 Cr21,500
Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 30 Sep 22 | HAL
5%₹3 Cr7,900
Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 28 Feb 21 | SUNPHARMA
5%₹3 Cr20,500
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 19 | RELIANCE
4%₹3 Cr9,268
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Mar 16 | ICICIBANK
4%₹3 Cr23,609
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 28 Feb 21 | TATAMOTORS
4%₹2 Cr22,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
3%₹2 Cr16,000
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
Asset Allocation
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
Asset ClassValue
Cash1.42%
Equity98.58%
Equity Sector Allocation
SectorValue
Financial Services18.53%
Industrials17.7%
Consumer Cyclical16.75%
Basic Materials16.56%
Health Care9.06%
Technology5.71%
Utility5.11%
Consumer Defensive3.52%
Communication Services3.01%
Real Estate2.62%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Torrent Power Ltd (Utilities)
Equity, Since 31 Oct 19 | 532779
4%₹199 Cr1,324,017
↓ -10,105
K.P.R. Mill Ltd (Consumer Cyclical)
Equity, Since 31 Aug 20 | KPRMILL
3%₹157 Cr1,855,868
Gujarat Fluorochemicals Ltd Ordinary Shares (Basic Materials)
Equity, Since 30 Sep 19 | FLUOROCHEM
3%₹153 Cr421,207
↓ -28,500
Fortis Healthcare Ltd (Healthcare)
Equity, Since 31 May 17 | 532843
3%₹144 Cr3,294,435
Coromandel International Ltd (Basic Materials)
Equity, Since 31 Aug 18 | 506395
3%₹141 Cr1,167,738
Phoenix Mills Ltd (Real Estate)
Equity, Since 31 Aug 20 | 503100
3%₹139 Cr441,671
↓ -63,438
Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Dec 14 | CHOLAHLDNG
2%₹124 Cr1,148,702
AU Small Finance Bank Ltd (Financial Services)
Equity, Since 30 Nov 19 | 540611
2%₹124 Cr1,949,456
↑ 10,384
Cummins India Ltd (Industrials)
Equity, Since 31 Jan 22 | 500480
2%₹123 Cr374,853
The Federal Bank Ltd (Financial Services)
Equity, Since 31 Mar 12 | FEDERALBNK
2%₹123 Cr7,541,948

Thus, from the above-mentioned pointers, it can be said that both the schemes differ on numerous parameters in spite of belonging to the same category. As a result, individuals should be careful before investing in any of the schemes. Individuals should analyse the schemes thoroughly and check whether it matches their investment objective or not. If required, they can even take the financial opinion of a financial advisor. This will help individuals to attain their objectives on time and ensure that their investment is safe.

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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