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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 July 12, 2019 , 252 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
L&T Midcap Fund
Growth
Fund Details
₹128.57 ↑ 0.55   (0.43 %)
₹4,503 on 30 Apr 19
9 Aug 04
Equity
Mid Cap
5
High
2.69
-0.8
0.77
-2.4
Not Available
0-1 Years (1%),1 Years and above(NIL)
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
₹279.75 ↑ 1.41   (0.51 %)
₹2,343 on 30 Apr 19
3 Oct 02
Equity
Mid Cap
16
Moderately High
2.5
-0.76
0
0
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
L&T Midcap Fund
Growth
Fund Details
-2.2%
-4.7%
-2.6%
-7.5%
10.4%
15.1%
18.7%
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
-2.5%
-2.8%
-0.3%
-6.6%
5.9%
11.9%
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 Performance2018
2017
2016
2015
2014
L&T Midcap Fund
Growth
Fund Details
-12%
52.3%
9.8%
10.8%
81.6%
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
-16%
44.8%
5.7%
10.4%
72.6%

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
L&T Midcap Fund
Growth
Fund Details
₹500
₹5,000
S.N. Lahiri - 5.61 Yr.
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
₹1,000
₹1,000
Jayesh Gandhi - 4.41 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
L&T Midcap Fund
Growth
Fund Details
DateValue
30 Jun 14₹10,000
30 Jun 15₹13,130
30 Jun 16₹14,219
30 Jun 17₹19,599
30 Jun 18₹20,662
30 Jun 19₹20,116
Growth of 10,000 investment over the years.
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
DateValue
30 Jun 14₹10,000
30 Jun 15₹12,902
30 Jun 16₹13,755
30 Jun 17₹17,403
30 Jun 18₹17,796
30 Jun 19₹16,940

Detailed portfolio Comparison

Asset Allocation
L&T Midcap Fund
Growth
Fund Details
Asset ClassValue
Cash8.01%
Equity91.68%
Debt0%
Other0.31%
Equity Sector Allocation
SectorValue
Basic Materials23.18%
Financial Services22.37%
Consumer Cyclical13.92%
Industrials13.76%
Health Care6.52%
Real Estate3.84%
Consumer Defensive3.09%
Technology2.71%
Utility1.03%
Energy0.85%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
(A) Tri Party Repo Dealing System (Treps)
CBLO/Reverse Repo | -
8%₹391 Cr
RBL Bank Ltd (Financial Services)
Equity, Since 30 Apr 18 | RBLBANK
4%₹182 Cr2,653,200
↑ 208,000
City Union Bank Ltd (Financial Services)
Equity, Since 31 Mar 18 | CUB
3%₹170 Cr8,012,634
↑ 133,234
Ramco Cements Ltd (Basic Materials)
Equity, Since 30 Sep 12 | RAMCOCEM
3%₹140 Cr1,717,000
↑ 291,000
Shree Cement Ltd (Basic Materials)
Equity, Since 31 Dec 12 | 500387
3%₹129 Cr59,512
↑ 13,512
ACC Ltd (Basic Materials)
Equity, Since 30 Jun 18 | 500410
3%₹125 Cr742,000
↑ 139,000
Emami Ltd (Consumer Defensive)
Equity, Since 31 Aug 13 | 531162
2%₹103 Cr2,964,800
↑ 121,500
Engineers India Ltd (Industrials)
Equity, Since 29 Feb 16 | 532178
2%₹99 Cr8,157,000
↑ 2,409,400
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 30 Nov 17 | CHOLAFIN
2%₹95 Cr621,000
Kajaria Ceramics Ltd (Basic Materials)
Equity, Since 31 Oct 16 | 500233
2%₹94 Cr1,476,700
↑ 77,100
Asset Allocation
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
Asset ClassValue
Cash1.21%
Equity98.79%
Equity Sector Allocation
SectorValue
Financial Services27.27%
Basic Materials17.96%
Industrials15.2%
Consumer Cyclical14.36%
Health Care10.5%
Utility4.63%
Energy3.73%
Technology2.6%
Consumer Defensive2.54%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Gujarat Fluorochemicals Ltd (Basic Materials)
Equity, Since 31 Jul 15 | 500173
5%₹131 Cr1,250,000
↑ 160,450
TeamLease Services Ltd (Industrials)
Equity, Since 29 Feb 16 | TEAMLEASE
5%₹126 Cr418,589
↑ 102,976
RBL Bank Ltd (Financial Services)
Equity, Since 31 Aug 16 | RBLBANK
4%₹86 Cr1,250,000
↓ -150,000
Century Textiles & Industries Ltd (Basic Materials)
Equity, Since 31 Aug 16 | 500040
3%₹82 Cr802,000
↑ 50,000
KEC International Ltd (Industrials)
Equity, Since 30 Nov 15 | 532714
3%₹80 Cr2,489,592
↑ 139,592
The Federal Bank Ltd (Financial Services)
Equity, Since 31 Mar 12 | FEDERALBNK
3%₹75 Cr7,000,000
↑ 400,000
DCB Bank Ltd (Financial Services)
Equity, Since 30 Apr 17 | 532772
3%₹70 Cr3,000,000
↓ -1,500,000
Gujarat State Petronet Ltd (Utilities)
Equity, Since 30 Nov 14 | 532702
3%₹68 Cr3,513,000
↑ 213,000
Crompton Greaves Consumer Electricals Ltd (Consumer Cyclical)
Equity, Since 31 May 16 | CROMPTON
3%₹65 Cr2,730,000
Pfizer Ltd (Healthcare)
Equity, Since 31 Jul 18 | PFIZER
3%₹63 Cr196,680

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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