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Fincash » L&T Midcap Fund Vs BNP Paribas Mid Cap Fund

L&T Midcap Fund Vs BNP Paribas Mid Cap Fund

Updated on January 24, 2022 , 274 views

L&T Midcap Fund and BNP Paribas Mid Cap Fund both the schemes differ on a number of parameters. These differences exist in spite of both the schemes being part of the same category of Equity Funds. mid cap funds invest their pooled money in stocks of companies being part of the mid-cap category. These companies are second-in-line in after large-cap companies in terms of their market capitalization. Mid-cap companies are a good investment option for long-term investment. These schemes are a good option for investors having a long-term investment tenure. The market capitalization of mid-cap companies ranges between INR 500 – INR 10,000 Crores. Though there are a number of schemes in one category, nevertheless; numerous differences exist between them. So, let us understand the differences between L&T Midcap Fund and BNP Paribas Mid Cap Fund through this article.

L&T Midcap Fund

L&T Midcap Fund is offered and managed by L&T Mutual Fund under the mid-cap category. This scheme was incepted on August 09, 2004 and uses Nifty Midcap 100 TRI Index to construct its portfolio. The investment objective of this scheme of L&T Mutual Fund is to generate Capital appreciation by having exposure in stocks of mid-cap companies forming part of its benchmark index. As per the Asset Allocation objective, the scheme invests around 80-100% of its pooled money in equity and equity-related instruments while the remaining in fixed Income and money market instruments. L&T Midcap Fund is jointly managed by Mr. S. N. Lahiri and Mr. Vihang Naik. As of March 2018, some of the constituents of L&T Midcap Fund’s portfolio include Ramco Cements Limited, Graphite India Limited, AIA Engineering Limited, Engineers India Limited, and Avanti Feeds Limited.

BNP Paribas Mid Cap Fund

BNP Paribas Mid Cap Fund is a part of BNP Paribas Mutual Fund and it uses Nifty Free Float Midcap 100 TRI as its benchmark to build its basket of assets. This scheme is suitable for individuals looking for individuals seeking exposure in mid and small capitalization segments along with wealth creation in the long-term. This scheme of BNP Paribas Mutual Fund allocates a minimum of 65% of its corpus in stocks of companies belonging to mid-cap companies. It strives to identify the companies that have good opportunities of growth in the long-term. In addition, it also ensures to identify the companies that are driven by the dynamic style of management and entrepreneurial flair. Mr. Abhijeet Dey and Mr. Karthikraj Lakshmanan are the joint fund managers of BNP Paribas Mid Cap Fund.

L&T Midcap Fund Vs BNP Paribas Mid Cap Fund

L&T Midcap Fund and BNP Paribas Mid Cap Fund differ on account of a number of parameters that are classified into four sections. These sections are basics section, performance section, yearly performance section, and other details section. The explanation of these sections is as follows.

Basics Section

This is the first section in the comparison of the schemes. The parameters forming part of this scheme is Current NAV, Fincash Rating, and scheme category. On the Basis of current NAV, it can be said that both the schemes differ considerably. The NAV of L&T Midcap Fund was approximately INR 146 and of BNP Paribas Mid Cap Fund was around INR 33 as of May 03, 2018. With respect to Fincash Rating, it can be said that L&T Mutual Fund’s scheme is rated as 4-Star while BNP Paribas Mutual Fund’s scheme is rated as 3-Star. On the basis of scheme category, both the schemes are a part of Equity Mid & small cap Category. 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 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)
BNP Paribas Mid Cap Fund
Growth
Fund Details
₹57.079 ↑ 0.18   (0.32 %)
₹1,065 on 31 Dec 21
2 May 06
Equity
Mid Cap
18
High
2.36
2.26
-0.13
-5.92
Not Available
0-12 Months (1%),12 Months and above(NIL)

Performance Section

Being the second section in the comparison, it analyzes the differences in the Compounded Annual Growth Rate or CAGR returns between the schemes. This CAGR returns are compared at different intervals such as 1 Year Return, 3 Year Return, 5 Year Return, and Return since Inception. The comparison of performance section shows that there is a significant difference between the returns generated by both the schemes. In most of the instances, the performance of L&T Midcap Fund leads the race. 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 Midcap Fund
Growth
Fund Details
-0.8%
-3.9%
0.9%
25.5%
16.2%
13.4%
18.7%
BNP Paribas Mid Cap Fund
Growth
Fund Details
2%
-2.6%
3.3%
37.5%
24%
15.7%
11.7%

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Yearly Performance Section

Being the third section in the comparison, it analyzes the differences in the absolute returns generated by both the schemes for a particular year. The comparison of absolute returns states that, in certain years, BNP Paribas Mid Cap Fund has performed better as compared to L&T Midcap Fund while in other years, L&T Midcap Fund had done well in comparison to BNP Paribas Mid Cap Fund. The comparison of yearly performance section is as follows.

Parameters
Yearly Performance2021
2020
2019
2018
2017
L&T Midcap Fund
Growth
Fund Details
30.4%
19%
-0.2%
-12%
52.3%
BNP Paribas Mid Cap Fund
Growth
Fund Details
41.5%
23.1%
5.2%
-17.5%
49%

Other Details Section

AUM, minimum SIP investment, minimum lumpsum investment, and exit load are some of the parameters that form part of this last section in the comparison of the schemes. The SIP and lumpsum amount for both the schemes is same, that is, INR 500 and INR 5,000 respectively. Also, the exit load for both the schemes is same. However, there is a significant difference between the AUM of both the schemes. The AUM of L&T’s scheme was around INR 2,403 Crores and of BNP Paribas’s schemes was approximately INR 774 Crores, as of March 2018. The comparison of other details section is summarized in the table given below.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
L&T Midcap Fund
Growth
Fund Details
₹500
₹5,000
Venugopal Manghat - 2.04 Yr.
BNP Paribas Mid Cap Fund
Growth
Fund Details
₹300
₹5,000
Karthikraj Lakshmanan - 5.13 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.
BNP Paribas Mid Cap Fund
Growth
Fund Details
DateValue
31 Dec 16₹10,000
31 Dec 17₹14,901
31 Dec 18₹12,294
31 Dec 19₹12,935
31 Dec 20₹15,928
31 Dec 21₹22,537

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
BNP Paribas Mid Cap Fund
Growth
Fund Details
Asset ClassValue
Cash5.78%
Equity94.22%
Equity Sector Allocation
SectorValue
Consumer Cyclical22.43%
Financial Services15.17%
Industrials14.93%
Basic Materials14.58%
Technology8.58%
Health Care6.53%
Utility5.07%
Real Estate3.18%
Consumer Defensive2.34%
Communication Services1.4%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Trent Ltd (Consumer Cyclical)
Equity, Since 31 Jan 19 | 500251
5%₹52 Cr485,000
↑ 134,205
Jindal Steel & Power Ltd (Basic Materials)
Equity, Since 31 Aug 20 | 532286
4%₹46 Cr1,225,000
↑ 25,000
Voltas Ltd (Industrials)
Equity, Since 31 Oct 18 | VOLTAS
4%₹46 Cr376,000
Persistent Systems Ltd (Technology)
Equity, Since 31 Jul 20 | PERSISTENT
4%₹39 Cr79,700
↑ 39,200
Gujarat Gas Ltd (Utilities)
Equity, Since 31 Jan 19 | 539336
3%₹32 Cr508,000
Bharat Electronics Ltd (Industrials)
Equity, Since 30 Apr 19 | BEL
3%₹31 Cr1,500,000
↓ -425,466
The Federal Bank Ltd (Financial Services)
Equity, Since 31 Jul 16 | FEDERALBNK
3%₹30 Cr3,631,000
Mphasis Ltd (Technology)
Equity, Since 30 Apr 18 | 526299
3%₹30 Cr88,000
Astral Ltd (Industrials)
Equity, Since 30 Sep 19 | ASTRAL
3%₹27 Cr118,256
ACC Ltd (Basic Materials)
Equity, Since 30 Apr 20 | 500410
2%₹27 Cr120,000

Therefore, from the aforesaid parameters, it can be said that both the schemes differ on account of numerous parameters. Resultantly, individuals should be careful while choosing any of the schemes. They should check whether the scheme matches their investment objectives or not. Also, they must have a thorough understanding of the scheme chosen. This will help individuals to choose their objectives on time along with ensuring 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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