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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 April 10, 2024 , 2277 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
Essel Long Term Advantage Fund
Growth
Fund Details
₹26.1873 ↓ -0.19   (-0.70 %)
₹63 on 29 Feb 24
30 Dec 15
Not Rated
Equity
ELSS
Moderately High
0
2.14
-1.17
-2.73
Not Available
NIL
Invesco India Mid Cap Fund
Growth
Fund Details
₹132.74 ↓ -0.66   (-0.49 %)
₹4,240 on 29 Feb 24
19 Apr 07
Equity
Mid Cap
38
Moderately High
2.08
3.16
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
Essel Long Term Advantage Fund
Growth
Fund Details
1.1%
1.5%
11.3%
29.6%
16.6%
12.5%
12.3%
Invesco India Mid Cap Fund
Growth
Fund Details
6%
7.3%
22.4%
51.6%
25.6%
22.2%
16.4%

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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 Performance2023
2022
2021
2020
2019
Essel Long Term Advantage Fund
Growth
Fund Details
24.1%
-2%
29.4%
8.5%
7.9%
Invesco India Mid Cap Fund
Growth
Fund Details
34.1%
0.5%
43.1%
24.4%
3.8%

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
Essel Long Term Advantage Fund
Growth
Fund Details
₹500
₹500
Aditya Mulki - 2.06 Yr.
Invesco India Mid Cap Fund
Growth
Fund Details
₹500
₹5,000
Aditya Khemani - 0.39 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.
Invesco India Mid Cap Fund
Growth
Fund Details
DateValue
31 Mar 19₹10,000
31 Mar 20₹7,969
31 Mar 21₹14,043
31 Mar 22₹17,343
31 Mar 23₹17,319
31 Mar 24₹26,151

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
Invesco India Mid Cap Fund
Growth
Fund Details
Asset ClassValue
Cash0.96%
Equity99.04%
Equity Sector Allocation
SectorValue
Consumer Cyclical27.82%
Financial Services21.68%
Industrials14.51%
Health Care11.49%
Technology8.47%
Real Estate6.12%
Basic Materials5.02%
Utility1.98%
Consumer Defensive1.94%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Trent Ltd (Consumer Cyclical)
Equity, Since 30 Apr 21 | 500251
5%₹212 Cr546,046
Max Healthcare Institute Ltd Ordinary Shares (Healthcare)
Equity, Since 31 Dec 22 | MAXHEALTH
4%₹178 Cr2,246,434
The Federal Bank Ltd (Financial Services)
Equity, Since 31 Oct 22 | FEDERALBNK
4%₹173 Cr11,480,924
↑ 379,188
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Mar 21 | CHOLAFIN
4%₹167 Cr1,537,576
↑ 155,753
L&T Finance Holdings Ltd (Financial Services)
Equity, Since 31 Dec 23 | L&TFH
4%₹165 Cr9,883,840
↑ 204,597
Apollo Tyres Ltd (Consumer Cyclical)
Equity, Since 30 Nov 22 | 500877
4%₹151 Cr2,903,958
↑ 251,465
Kalyan Jewellers India Ltd (Consumer Cyclical)
Equity, Since 31 Dec 23 | KALYANKJIL
3%₹143 Cr3,611,063
↑ 810,796
Max Financial Services Ltd (Financial Services)
Equity, Since 30 Nov 23 | 500271
3%₹134 Cr1,383,185
↑ 96,625
Prestige Estates Projects Ltd (Real Estate)
Equity, Since 30 Nov 23 | PRESTIGE
3%₹132 Cr1,134,386
↑ 97,183
Mankind Pharma Ltd (Healthcare)
Equity, Since 30 Apr 23 | 543904
3%₹128 Cr600,883

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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