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Fincash » L&T Midcap Fund Vs Invesco India Mid Cap Fund

L&T Midcap Fund Vs Invesco India Mid Cap Fund

Updated on January 24, 2022 , 1952 views

L&T Midcap Fund and Invesco India Mid Cap Fund both the schemes belong to the mid-cap category of Equity Funds. Though these schemes belong to the same category, nevertheless; there are numerous differences between them. In short, mid cap funds invest their fund money in equity and equity-related instruments of mid-cap companies. These companies form the middle of the pyramid when stocks are classified on the Basis of Market capitalization. Since mid-cap companies are more focused and specialized they tend to respond faster to innovations. In many instances, mid-cap funds have outperformed large-cap and their stock prices are less volatile as compared to Small cap funds. Though there are a number of schemes in a given category of Mutual Fund yet; there are differences between them. So, let us understand the differences between L&T Midcap Fund and Invesco India Mid Cap Fund through this article.

L&T Midcap Fund

L&T Midcap Fund uses Nifty Freefloat Midcap 100 Index to construct its basket of assets. The parameters used by this scheme of L&T Mutual Fund to select its stocks are management quality, competitive position, and valuations. The scheme’s objective is to aim for Capital appreciation in the long-term by predominantly Investing in stocks of mid-cap companies. Sundaram Finance Limited, Berger Paints India Limited, Graphite India Limited, and the Federal Bank Limited are some of the holdings of L&T Midcap Fund’s portfolio as of March 31, 2018. Mr. S. N. Lahiri and Mr. Vihang Naik are the joint fund managers of L&T Midcap Fund. L&T Midcap Fund, based on its Asset Allocation objective, puts around 80-100% of the fund money in equity and equity-related securities.

Invesco India Mid Cap Fund

Invesco India Mid Cap Fund is offered and managed by Invesco Mutual Fund. This scheme is can be a good choice for investors seeking for investments in equity and equity-related instruments of mid-cap companies thereby; attaining capital appreciation. One of the key features of this scheme is, it is a dedicated midcap fund wherein; the investments are made in companies that are expected to benefit from the country’s long-term Economic Growth. Invesco India Mid Cap Fund uses Nifty Midcap 100 Index as its benchmark to construct its portfolio. Some of the holdings of Invesco India Mid Cap Fund as of March 2018, are Ajanta Pharma Limited, MRF Limited, United Breweries Limited, and Piramal Enterprises Limited. Invesco India Mutual Fund’s this scheme uses bottom-up approach for stock selection.

L&T India Midcap Fund Vs Invesco India Mid Cap Fund

The parameters based on which L&T Midcap Fund and Invesco India Mid Cap Fund are classified into four sections, namely, basics section, performance section, yearly performance section, and other details section. The explanation of each of these sections is as follows.

Basics Section

It is the first section in the comparison that includes parameters such as current NAV, Fincash Rating, and scheme category. The comparison of current NAV states that both the schemes differ considerably on account of NAV. The NAV of L&T Midcap Fund was approximately INR 146 and of Invesco India Mid Cap Fund was around INR 49 as of May 03, 2018. On the basis of Fincash Rating, it can be said that L&T Mutual Fund’s scheme is rated as 4-Star and Invesco’s Mutual Fund scheme is rated as 2-Star. However, on account of scheme category, both the schemes belong to the same domain of Equity Mid & Small-Cap. The comparison of the basics section is 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
₹198.17 ↓ -1.86   (-0.93 %)
₹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)
Invesco India Mid Cap Fund
Growth
Fund Details
₹86.08 ↓ -0.56   (-0.65 %)
₹2,195 on 31 Dec 21
19 Apr 07
Equity
Mid Cap
38
Moderately High
2.04
2.8
0
0
Not Available
0-1 Years (1%),1 Years and above(NIL)

Performance Section

This section compares the CAGR or Compounded Annual Growth Rate returns of both the schemes at different time intervals. Some of these time intervals are 1 Month Return, 3 Month Return, 5 Year Return, and Return since Inception. The analysis of performance section reveals that in almost all the instances, L&T Midcap Fund leads the race. The comparison of the performance section is as shown in the table given below.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
L&T Midcap Fund
Growth
Fund Details
-2%
-6.5%
-0.5%
25.7%
15.8%
13.1%
18.6%
Invesco India Mid Cap Fund
Growth
Fund Details
-1.2%
-3.4%
6.5%
35%
23%
17.6%
15.7%

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Yearly Performance Section

The comparison of absolute returns earned by both the schemes for a particular year is done in this yearly performance section. The comparison of yearly performance section also states that for many years, L&T Midcap Fund has performed better as compared to Invesco India Mid Cap Fund. 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%
Invesco India Mid Cap Fund
Growth
Fund Details
43.1%
24.4%
3.8%
-5.3%
44.3%

Other Details Section

It is the last section in the comparison that includes elements like AUM, minimum SIP investment, minimum lumpsum investment, and exit load. The exit load for both the schemes is same. Moreover, the minimum SIP and lumpsum investment are also same for both the schemes wherein; the SIP amount is INR 500 and lumpsum amount is INR 5,000 respectively. However, there is a difference between the AUM of both the schemes. As of March 31, 2018, the AUM of L&T Midcap Fund was around INR 2,403 Crores and of Invesco India Mid Cap Fund was around INR 171 Crores. The table given below shows the comparison summary of the other details section.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
L&T Midcap Fund
Growth
Fund Details
₹500
₹5,000
Venugopal Manghat - 2.04 Yr.
Invesco India Mid Cap Fund
Growth
Fund Details
₹500
₹5,000
Pranav Gokhale - 3.76 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.
Invesco India Mid Cap Fund
Growth
Fund Details
DateValue
31 Dec 16₹10,000
31 Dec 17₹14,432
31 Dec 18₹13,672
31 Dec 19₹14,192
31 Dec 20₹17,651
31 Dec 21₹25,266

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
Invesco India Mid Cap Fund
Growth
Fund Details
Asset ClassValue
Cash3.04%
Equity96.96%
Equity Sector Allocation
SectorValue
Consumer Cyclical21.46%
Industrials21.32%
Financial Services14.71%
Basic Materials10.14%
Health Care9.99%
Technology9.39%
Utility6.76%
Consumer Defensive1.94%
Energy1.24%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Minda Industries Ltd (Consumer Cyclical)
Equity, Since 31 Jul 19 | 532539
4%₹88 Cr719,747
↓ -77,799
Persistent Systems Ltd (Technology)
Equity, Since 31 Jan 21 | PERSISTENT
4%₹85 Cr172,811
Mphasis Ltd (Technology)
Equity, Since 30 Sep 20 | 526299
3%₹72 Cr212,729
↓ -20,997
Voltas Ltd (Industrials)
Equity, Since 29 Feb 20 | VOLTAS
3%₹68 Cr560,198
Sundaram Fasteners Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | SUNDRMFAST
3%₹67 Cr739,179
↑ 37,673
Bharat Electronics Ltd (Industrials)
Equity, Since 30 Nov 18 | BEL
3%₹67 Cr3,204,884
↓ -318,217
Craftsman Automation Ltd (Consumer Cyclical)
Equity, Since 31 Mar 21 | 543276
3%₹63 Cr276,811
Tata Power Co Ltd (Utilities)
Equity, Since 31 Aug 21 | 500400
3%₹62 Cr2,790,412
↓ -294,802
Ashok Leyland Ltd (Industrials)
Equity, Since 31 Jul 20 | 500477
3%₹58 Cr4,767,661
↑ 740,392
KEI Industries Ltd (Industrials)
Equity, Since 31 Dec 20 | 517569
3%₹57 Cr485,298

Therefore, from the above-mentioned sections, it can be said that both the schemes differ on a number of parameters. Resultantly, individuals should be very careful before choosing any of the schemes for investment. They should check whether the scheme matches their investment objectives and understand its functioning completely. This will help individuals 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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