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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 January 23, 2022 , 1047 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
₹200.03 ↑ 1.39   (0.70 %)
₹6,782 on 31 Dec 21
9 Aug 04
Equity
Mid Cap
5
High
1.88
2.08
-1.34
-8.48
Not Available
0-1 Years (1%),1 Years and above(NIL)
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
₹463.48 ↑ 3.68   (0.80 %)
₹3,449 on 31 Dec 21
3 Oct 02
Equity
Mid Cap
16
Moderately High
2.16
3.34
-0.85
7.78
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
-0.8%
-3.9%
0.9%
25.5%
16.2%
13.4%
18.7%
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
-0.1%
-0.2%
9.7%
43.4%
19.6%
13%
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 Performance2021
2020
2019
2018
2017
L&T Midcap Fund
Growth
Fund Details
30.4%
19%
-0.2%
-12%
52.3%
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
50.4%
15.5%
-3.7%
-16%
44.8%

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
Venugopal Manghat - 2.04 Yr.
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
₹1,000
₹1,000
Anil Shah - 1.68 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
L&T Midcap Fund
Growth
Fund Details
DateValue
31 Dec 16₹10,000
31 Dec 17₹15,233
31 Dec 18₹13,400
31 Dec 19₹13,380
31 Dec 20₹15,929
31 Dec 21₹20,770
Growth of 10,000 investment over the years.
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
DateValue
31 Dec 16₹10,000
31 Dec 17₹14,485
31 Dec 18₹12,161
31 Dec 19₹11,706
31 Dec 20₹13,525
31 Dec 21₹20,339

Detailed portfolio Comparison

Asset Allocation
L&T Midcap Fund
Growth
Fund Details
Asset ClassValue
Cash4.05%
Equity95.95%
Equity Sector Allocation
SectorValue
Financial Services20.91%
Industrials15.99%
Basic Materials15.71%
Health Care14.46%
Consumer Cyclical9.9%
Technology7.42%
Consumer Defensive6.49%
Real Estate3.46%
Communication Services1.05%
Energy0.56%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Mphasis Ltd (Technology)
Equity, Since 30 Apr 16 | 526299
5%₹336 Cr988,400
↓ -42,000
Emami Ltd (Consumer Defensive)
Equity, Since 31 Aug 13 | 531162
5%₹308 Cr5,925,057
↓ -242,857
Ipca Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 19 | 524494
3%₹203 Cr937,800
Blue Dart Express Ltd (Industrials)
Equity, Since 31 Dec 17 | 526612
3%₹202 Cr318,740
Bayer CropScience Ltd (Basic Materials)
Equity, Since 31 May 13 | 506285
3%₹191 Cr385,382
Cummins India Ltd (Industrials)
Equity, Since 30 Apr 18 | 500480
3%₹184 Cr1,949,500
Ramco Cements Ltd (Basic Materials)
Equity, Since 30 Sep 12 | RAMCOCEM
3%₹178 Cr1,769,142
Sundaram Finance Ltd (Financial Services)
Equity, Since 30 Nov 13 | SUNDARMFIN
3%₹174 Cr758,894
↓ -25,406
Abbott India Ltd (Healthcare)
Equity, Since 31 May 18 | 500488
3%₹172 Cr88,200
Bosch Ltd (Consumer Cyclical)
Equity, Since 31 Oct 19 | 500530
3%₹170 Cr98,100
Asset Allocation
Aditya Birla Sun Life Midcap Fund
Growth
Fund Details
Asset ClassValue
Cash2.87%
Equity97.13%
Equity Sector Allocation
SectorValue
Financial Services16.36%
Basic Materials14.36%
Industrials14.29%
Consumer Cyclical13.93%
Technology11.14%
Health Care10.67%
Utility7.77%
Consumer Defensive3.77%
Communication Services2.42%
Real Estate2.42%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Mphasis Ltd (Technology)
Equity, Since 31 Mar 20 | 526299
6%₹216 Cr636,027
Tata Power Co Ltd (Utilities)
Equity, Since 30 Sep 18 | 500400
4%₹130 Cr5,875,172
MindTree Ltd (Technology)
Equity, Since 30 Sep 20 | 532819
3%₹118 Cr247,907
K.P.R. Mill Ltd (Consumer Cyclical)
Equity, Since 31 Aug 20 | 532889
3%₹113 Cr1,694,379
Gujarat Fluorochemicals Ltd Ordinary Shares (Basic Materials)
Equity, Since 30 Sep 19 | 542812
3%₹110 Cr457,307
↓ -23,138
Voltas Ltd (Industrials)
Equity, Since 31 Aug 15 | VOLTAS
3%₹98 Cr800,000
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Dec 19 | CHOLAFIN
3%₹95 Cr1,821,603
Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Dec 14 | 504973
3%₹94 Cr1,448,702
Fortis Healthcare Ltd (Healthcare)
Equity, Since 31 May 17 | 532843
3%₹91 Cr3,075,084
Coromandel International Ltd (Basic Materials)
Equity, Since 31 Aug 18 | 506395
3%₹88 Cr1,167,738

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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