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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 September 26, 2023 , 823 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
₹245.183 ↑ 1.87   (0.77 %)
₹7,920 on 31 Jul 23
9 Aug 04
Equity
Mid Cap
5
High
1.85
1.35
-1.88
-0.79
Not Available
0-1 Years (1%),1 Years and above(NIL)
ICICI Prudential MidCap Fund
Growth
Fund Details
₹187.44 ↑ 1.11   (0.60 %)
₹4,226 on 31 Jul 23
28 Oct 04
Equity
Mid Cap
35
Moderately High
2.11
0.9
-1.16
-4.99
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
4.2%
15.2%
19.6%
20.9%
22.2%
11.3%
18.3%
ICICI Prudential MidCap Fund
Growth
Fund Details
3.3%
13.1%
16.6%
16.5%
26.1%
13.6%
16.9%

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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 Performance2022
2021
2020
2019
2018
L&T Midcap Fund
Growth
Fund Details
1.1%
30.4%
19%
-0.2%
-12%
ICICI Prudential MidCap Fund
Growth
Fund Details
3.1%
44.8%
19.1%
-0.6%
-10.8%

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
Vihang Naik - 7.18 Yr.
ICICI Prudential MidCap Fund
Growth
Fund Details
₹100
₹5,000
Lalit Kumar - 1.17 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 Aug 18₹10,000
31 Aug 19₹8,267
31 Aug 20₹9,115
31 Aug 21₹14,008
31 Aug 22₹14,368
31 Aug 23₹17,092
Growth of 10,000 investment over the years.
ICICI Prudential MidCap Fund
Growth
Fund Details
DateValue
31 Aug 18₹10,000
31 Aug 19₹8,750
31 Aug 20₹9,280
31 Aug 21₹15,504
31 Aug 22₹16,644
31 Aug 23₹19,160

Detailed portfolio Comparison

Asset Allocation
L&T Midcap Fund
Growth
Fund Details
Asset ClassValue
Cash0.87%
Equity99.13%
Equity Sector Allocation
SectorValue
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Ratnamani Metals & Tubes Ltd (Basic Materials)
Equity, Since 31 Oct 15 | RATNAMANI
3%₹276 Cr1,043,486
AIA Engineering Ltd (Industrials)
Equity, Since 31 Dec 16 | AIAENG
3%₹230 Cr621,300
Sundaram Finance Ltd (Financial Services)
Equity, Since 30 Nov 13 | SUNDARMFIN
2%₹193 Cr743,568
Abbott India Ltd (Healthcare)
Equity, Since 31 May 18 | ABBOTINDIA
2%₹186 Cr80,700
Bosch Ltd (Consumer Cyclical)
Equity, Since 31 Oct 19 | 500530
2%₹179 Cr96,253
3M India Ltd (Industrials)
Equity, Since 30 Sep 19 | 3MINDIA
2%₹176 Cr56,500
Emami Ltd (Consumer Defensive)
Equity, Since 31 Aug 13 | 531162
2%₹174 Cr3,326,025
Power Finance Corp Ltd (Financial Services)
Equity, Since 30 Jun 21 | 532810
2%₹174 Cr6,690,600
CRISIL Ltd (Financial Services)
Equity, Since 31 Mar 17 | CRISIL
2%₹169 Cr426,444
Godrej Properties Ltd (Real Estate)
Equity, Since 31 Mar 17 | GODREJPROP
2%₹164 Cr995,400
Asset Allocation
ICICI Prudential MidCap Fund
Growth
Fund Details
Asset ClassValue
Cash3.98%
Equity96.02%
Equity Sector Allocation
SectorValue
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Lupin Ltd (Healthcare)
Equity, Since 31 Aug 22 | 500257
4%₹165 Cr1,504,935
↑ 86,000
Hindustan Petroleum Corp Ltd (Energy)
Equity, Since 31 Aug 22 | HINDPETRO
4%₹164 Cr6,593,890
Balkrishna Industries Ltd (Consumer Cyclical)
Equity, Since 28 Feb 22 | BALKRISIND
4%₹157 Cr675,342
Jindal Steel & Power Ltd (Basic Materials)
Equity, Since 31 Jan 22 | 532286
4%₹153 Cr2,242,227
Phoenix Mills Ltd (Real Estate)
Equity, Since 31 May 20 | 503100
3%₹127 Cr706,691
UNO Minda Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | UNOMINDA
3%₹124 Cr2,059,384
TVS Motor Co Ltd (Consumer Cyclical)
Equity, Since 31 Oct 18 | 532343
3%₹122 Cr858,409
AIA Engineering Ltd (Industrials)
Equity, Since 30 Nov 17 | AIAENG
3%₹121 Cr326,406
Affle India Ltd (Communication Services)
Equity, Since 31 Oct 22 | 542752
3%₹114 Cr1,056,618
Jindal Stainless Ltd (Basic Materials)
Equity, Since 31 Aug 22 | JSL
3%₹112 Cr2,464,776

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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