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Fincash » L&T Midcap Fund Vs ICICI Prudential Midcap Fund

L&T Midcap Fund Vs ICICI Prudential MidCap Fund

Updated on August 16, 2022 , 652 views

L&T Midcap Fund and ICICI Prudential MidCap Fund both the schemes are a part of Mid-cap category of Equity Fund. In simple terms, mid cap funds are the Mutual Fund schemes that invest their corpus in equity and equity-related securities of mid-cap companies. The Market capitalization of these companies Range between INR 500 – INR 10,000 Crores. The share prices of mid-cap companies fluctuate less as compared to small-cap schemes. These companies are a notch below large-cap companies in terms of market capitalization. There are a number of schemes under mid-cap category offered by different fund houses. However, these schemes differ with respect to each other on various parameters. So, let us understand the differences between L&T Midcap Fund and ICICI Prudential MidCap Fund through this article.

L&T Midcap Fund

L&T Midcap Fund can be an apt choice for individuals looking for Capital appreciation by having exposure in mid-cap companies that form part of Nifty Free Float Midcap 100 Index. Based on the Asset Allocation objective, this scheme of L&T Mutual Fund invests around 80-100% of its fund money in equity and equity-related instruments while a maximum of 20% of its corpus in fixed Income and money market securities. The various parameters that L&T Midcap Fund looks for while choosing a stock for investment include management quality, competitive position, and valuations. This scheme was launched in the year 2004 and is jointly managed by Mr. Vihang Naik and Mr. S. N. Lahiri. As of 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.

ICICI Prudential MidCap Fund

ICICI Prudential MidCap Fund’s investment objective is to generate capital appreciation from an active portfolio that primarily consists of midcap stocks. Some of the key benefits of this scheme are it helps individuals to take the advantage of mid-cap stocks that have potentials of higher capital appreciation. Additionally, the scheme also complements a portfolio that is primarily focused on large-cap stocks. Mr. Mittul Kalawadia and Mr. Mrinal Singh are the joint fund managers of ICICI Prudential MidCap Fund. The scheme uses Nifty Midcap 100 Index as its primary benchmark and Nifty 50 Index as its additional benchmark to construct its portfolio. Some of the top holdings of ICICI Prudential MidCap Fund as of March 31, 2018, include Exide Industries Limited, Tata Chemicals Limited, Fortis Healthcare Limited, and Engineers India Limited.

L&T Midcap Fund Vs ICICI Prudential MidCap Fund

The differences between L&T Midcap Fund and ICICI Prudential MidCap Fund are classified into four sections, namely, basics section, performance section, yearly performance section, and other details sections. These sections are explained as follows.

Basics Section

It is the first section in the comparison of both the schemes. The parameters forming part of the basics section include current NAV, Fincash Rating, and scheme category. With respect to Fincash Rating, it can be said that L&T Midcap Fund is a 4-Star scheme and ICICI Prudential MidCap Fund is a 2-Star scheme. The comparison of scheme category states that both the schemes are a part of Equity Mid & small cap Category. Similarly, the comparison of current NAV also reveals a difference between the schemes. As of May 03, 2018, the NAV of L&T Midcap Fund was approximately INR 146 while of ICICI Prudential MidCap Fund was around INR 102. The table given below summarizes the comparison of this 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
₹205.48 ↓ -1.91   (-0.92 %)
₹6,022 on 30 Jun 22
9 Aug 04
Equity
Mid Cap
5
High
1.88
-0.52
0
0
Not Available
0-1 Years (1%),1 Years and above(NIL)
ICICI Prudential MidCap Fund
Growth
Fund Details
₹163.35 ↓ -2.09   (-1.26 %)
₹3,091 on 30 Jun 22
28 Oct 04
Equity
Mid Cap
35
Moderately High
2.3
-0.24
-0.51
-0.47
Not Available
0-1 Years (1%),1 Years 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 at different intervals. These intervals include 1 Month Return, 6 Month Return, 3 Year Return, and Return since Inception. The comparison of CAGR returns states that in almost all the instances, 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
4%
10.3%
4.2%
2.4%
19.4%
9.2%
18.3%
ICICI Prudential MidCap Fund
Growth
Fund Details
4.3%
13.6%
5.8%
7.5%
22.8%
12.3%
17%

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Yearly Performance Section

The comparison of absolute returns generated by both the schemes for a particular year is done in the yearly performance section. The comparison of absolute returns states that in certain years ICICI Prudential MidCap Fund leads the race while in others L&T Midcap Fund leads the race. The table given below summarizes the comparison of the yearly performance section.

Parameters
Yearly Performance2021
2020
2019
2018
2017
L&T Midcap Fund
Growth
Fund Details
30.4%
19%
-0.2%
-12%
52.3%
ICICI Prudential MidCap Fund
Growth
Fund Details
44.8%
19.1%
-0.6%
-10.8%
42.9%

Other Details Section

It is the last section in the performance that includes elements such as AUM, minimum SIP investment, minimum lumpsum investment, and so on. The comparison of minimum lumpsum investment states that the lumpsum amount for both the schemes is same, that is, INR 5,000. With respect to minimum SIP investment, it can be said that the SIP amount for L&T Midcap Fund is INR 500, while for ICICI Prudential MidCap Fund is INR 1,000. Even the comparison of AUM for both the schemes, reveals a significant difference. the AUM of L&T Midcap Fund was around INR 2,403 Crores and of ICICI Prudential MidCap Fund was around INR 1,450 Crores, as of March 31, 2018. The exit load for both the schemes is same. The summary of other details section is as follows.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
L&T Midcap Fund
Growth
Fund Details
₹500
₹5,000
Venugopal Manghat - 2.62 Yr.
ICICI Prudential MidCap Fund
Growth
Fund Details
₹100
₹5,000
Priyanka Khandelwal - 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 Jul 17₹10,000
31 Jul 18₹10,481
31 Jul 19₹9,012
31 Jul 20₹9,251
31 Jul 21₹14,822
31 Jul 22₹14,985
Growth of 10,000 investment over the years.
ICICI Prudential MidCap Fund
Growth
Fund Details
DateValue
31 Jul 17₹10,000
31 Jul 18₹10,620
31 Jul 19₹9,672
31 Jul 20₹9,210
31 Jul 21₹16,635
31 Jul 22₹17,408

Detailed portfolio Comparison

Asset Allocation
L&T Midcap Fund
Growth
Fund Details
Asset ClassValue
Cash4.7%
Equity95.3%
Equity Sector Allocation
SectorValue
Industrials18.99%
Financial Services15.89%
Basic Materials15.34%
Consumer Cyclical14.53%
Health Care13.38%
Consumer Defensive5.62%
Technology4.07%
Utility2.19%
Communication Services1.93%
Real Estate1.9%
Energy1.46%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Blue Dart Express Ltd (Industrials)
Equity, Since 31 Dec 17 | BLUEDART
4%₹265 Cr339,223
Emami Ltd (Consumer Defensive)
Equity, Since 31 Aug 13 | 531162
4%₹222 Cr5,275,057
Ratnamani Metals & Tubes Ltd (Basic Materials)
Equity, Since 31 Oct 15 | RATNAMANI
3%₹194 Cr1,170,670
↓ -35,808
Bayer CropScience Ltd (Basic Materials)
Equity, Since 31 May 13 | 506285
3%₹193 Cr385,382
Ipca Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 19 | 524494
3%₹168 Cr1,875,600
CRISIL Ltd (Financial Services)
Equity, Since 31 Mar 17 | CRISIL
3%₹167 Cr508,000
Abbott India Ltd (Healthcare)
Equity, Since 31 May 18 | ABBOTINDIA
3%₹151 Cr80,700
Mphasis Ltd (Technology)
Equity, Since 30 Apr 16 | 526299
2%₹147 Cr640,579
↓ -56,605
Cummins India Ltd (Industrials)
Equity, Since 30 Apr 18 | 500480
2%₹144 Cr1,404,620
↓ -419,880
Bosch Ltd (Consumer Cyclical)
Equity, Since 31 Oct 19 | 500530
2%₹138 Cr90,899
↓ -7,201
Asset Allocation
ICICI Prudential MidCap Fund
Growth
Fund Details
Asset ClassValue
Cash6.42%
Equity93.58%
Equity Sector Allocation
SectorValue
Consumer Cyclical22.66%
Financial Services21.45%
Industrials12.69%
Health Care9.16%
Technology8.58%
Communication Services6.23%
Basic Materials4.61%
Real Estate3.7%
Consumer Defensive3.63%
Utility0.86%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Max Financial Services Ltd (Financial Services)
Equity, Since 31 Jul 17 | 500271
5%₹142 Cr1,813,195
TVS Motor Co Ltd (Consumer Cyclical)
Equity, Since 31 Oct 18 | 532343
4%₹128 Cr1,521,820
The Federal Bank Ltd (Financial Services)
Equity, Since 30 Nov 17 | FEDERALBNK
4%₹113 Cr12,572,698
↑ 200,000
Indian Hotels Co Ltd (Consumer Cyclical)
Equity, Since 31 Oct 17 | 500850
3%₹108 Cr4,788,952
Persistent Systems Ltd (Technology)
Equity, Since 31 Jan 21 | PERSISTENT
3%₹96 Cr281,807
↑ 1,706
Minda Industries Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | MINDAIND
3%₹95 Cr1,029,692
Phoenix Mills Ltd (Real Estate)
Equity, Since 31 May 20 | 503100
3%₹83 Cr702,889
Tata Communications Ltd (Communication Services)
Equity, Since 31 Mar 21 | TATACOMM
2%₹76 Cr833,540
↑ 80,012
Ashok Leyland Ltd (Industrials)
Equity, Since 31 Aug 20 | 500477
2%₹75 Cr5,089,603
Alkem Laboratories Ltd (Healthcare)
Equity, Since 30 Nov 20 | ALKEM
2%₹74 Cr245,989

Therefore, based on the above parameters, it can be said that both L&T Midcap Fund and ICICI Prudential MidCap Fund differ on account of a number of parameters. Therefore, individuals should be very cautious while Investing in any of the schemes. They should understand the modalities of the scheme completely. Also, they should ensure whether the scheme is in-line with their investment objective or not. This will help them to attain their objectives on time and in a hassle-free manner.

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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