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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 April 22, 2024 , 509 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
Essel Long Term Advantage Fund
Growth
Fund Details
₹26.1324 ↑ 0.11   (0.43 %)
₹60 on 31 Mar 24
30 Dec 15
Not Rated
Equity
ELSS
Moderately High
0
1.91
-1.2
-5.52
Not Available
NIL
BNP Paribas Mid Cap Fund
Growth
Fund Details
₹87.5909 ↑ 0.50   (0.57 %)
₹1,790 on 31 Mar 24
2 May 06
Equity
Mid Cap
18
High
2.19
3.34
-0.76
3.57
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
Essel Long Term Advantage Fund
Growth
Fund Details
2.8%
2.1%
13.6%
30%
16.1%
12.5%
12.2%
BNP Paribas Mid Cap Fund
Growth
Fund Details
5.3%
8.6%
25%
48.4%
23.9%
23%
12.8%

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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 Performance2023
2022
2021
2020
2019
Essel Long Term Advantage Fund
Growth
Fund Details
24.1%
-2%
29.4%
8.5%
7.9%
BNP Paribas Mid Cap Fund
Growth
Fund Details
32.6%
4.7%
41.5%
23.1%
5.2%

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
Essel Long Term Advantage Fund
Growth
Fund Details
₹500
₹500
Aditya Mulki - 2.06 Yr.
BNP Paribas Mid Cap Fund
Growth
Fund Details
₹300
₹5,000
Shiv Chanani - 1.72 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 Mar 19₹10,000
31 Mar 20₹7,264
31 Mar 21₹11,758
31 Mar 22₹13,797
31 Mar 23₹13,650
31 Mar 24₹17,637
Growth of 10,000 investment over the years.
BNP Paribas Mid Cap Fund
Growth
Fund Details
DateValue
31 Mar 19₹10,000
31 Mar 20₹8,113
31 Mar 21₹14,815
31 Mar 22₹18,380
31 Mar 23₹18,345
31 Mar 24₹26,942

Detailed Portfolio Comparison

Asset Allocation
Essel Long Term Advantage Fund
Growth
Fund Details
Asset ClassValue
Cash3.18%
Equity96.82%
Equity Sector Allocation
SectorValue
Financial Services25.77%
Technology16.79%
Industrials11.32%
Health Care11.14%
Consumer Cyclical9.14%
Consumer Defensive8.95%
Basic Materials6.33%
Energy4.31%
Communication Services3.07%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 30 Apr 20 | INFY
7%₹4 Cr25,000
Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 28 Feb 21 | SUNPHARMA
5%₹3 Cr20,500
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
5%₹3 Cr21,500
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 19 | RELIANCE
4%₹3 Cr9,268
↓ -1,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Mar 16 | ICICIBANK
4%₹2 Cr23,609
↓ -3,000
Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 30 Sep 22 | HAL
4%₹2 Cr7,900
SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Jan 22 | SBILIFE
3%₹2 Cr13,500
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 28 Feb 21 | TATAMOTORS
3%₹2 Cr22,000
↓ -6,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Mar 20 | TCS
3%₹2 Cr4,465
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
3%₹2 Cr16,000
Asset Allocation
BNP Paribas Mid Cap Fund
Growth
Fund Details
Asset ClassValue
Cash2.99%
Equity96.47%
Debt0.54%
Equity Sector Allocation
SectorValue
Consumer Cyclical20.25%
Financial Services19.64%
Industrials14.26%
Health Care13.02%
Technology10.13%
Basic Materials7.4%
Consumer Defensive5%
Utility4.08%
Real Estate2.7%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Indian Hotels Co Ltd (Consumer Cyclical)
Equity, Since 31 Oct 21 | 500850
3%₹59 Cr1,000,000
PB Fintech Ltd (Financial Services)
Equity, Since 28 Feb 23 | 543390
3%₹58 Cr500,000
↑ 75,000
NHPC Ltd (Utilities)
Equity, Since 31 Mar 22 | NHPC
3%₹53 Cr6,000,000
↓ -300,000
Lupin Ltd (Healthcare)
Equity, Since 28 Feb 22 | 500257
3%₹52 Cr320,000
Phoenix Mills Ltd (Real Estate)
Equity, Since 31 Oct 22 | 503100
3%₹48 Cr175,000
Indian Bank (Financial Services)
Equity, Since 30 Jun 21 | 532814
3%₹47 Cr900,000
Sundaram Finance Ltd (Financial Services)
Equity, Since 31 May 16 | SUNDARMFIN
3%₹46 Cr110,000
TVS Motor Co Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 532343
3%₹45 Cr210,000
Zydus Lifesciences Ltd (Healthcare)
Equity, Since 31 Mar 23 | 532321
2%₹45 Cr475,000
Trent Ltd (Consumer Cyclical)
Equity, Since 31 Jan 19 | 500251
2%₹45 Cr115,000

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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