SBI Magnum Mid Cap Fund Vs ICICI Prudential MidCap Fund

SBI Magnum mid cap fund and ICICI Prudential MidCap Fund both belong to the mid cap category of Equity Funds. These schemes invest their accumulated fund money in equity and equity-related instruments of companies having a market capitalization between INR 500 – INR 10,000 Crores. Mid cap stocks are defined as stocks whose market capitalization is between 101st to 250th in terms of full market capitalization. Though both the schemes belong to the same category yet; there are differences with respect to their performance, AUM, NAV, and many other related factors. So, for better investment decision, let us understand the differences between SBI Magnum Mid Cap Fund and ICICI Prudential MidCap Fund through this article.

SBI Magnum Mid Cap Fund

SBI Mid Cap Fund is offered by SBI Mutual Fund under Mid Cap category. It is an open-ended scheme which was launched on March 29, 2005. The scheme’s objective is to attain Capital growth in long-term by Investing in equity and equity-related instruments of mid cap companies. The scheme uses Nifty Midcap 150 to construct its portfolio. Some of the top holdings (as on 31/05/2018) of SBI Magnum Mid Cap Fund’s portfolio include Cholamandalam Investment and Finance Company Limited, The Ramco Cements Ltd, Dixon Technologies (India) Limited, Sheela Foam Limited, and Federal Bank Limited. The fund is suitable for investors looking for capital appreciation for long-term tenure. The scheme follows bottom-up approach of stock selection. SBI Magnum Mid Cap Fund is managed by Sohini Andani.

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. Mittul Kalawadia and Mrinal Singh are the joint fund managers of ICICI Prudential MidCap Fund. The scheme uses NIFTY Midcap 150 TRI as its primary 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.

SBI Magnum Mid Cap Fund Vs ICICI Prudential MidCap Fund

The parameters or elements that are used to compare both the scheme are divided into four categories, namely, basic section, performance section, yearly performance section, and other details section. So, let us have a look at each of these parameters and see how the funds stand against each other.

Basics Section

The elements compared in this section include Category of Scheme, Fincash Rating, Current NAV, and much more. To begin with the scheme’s category, we can see that both the schemes belong to the same category, that is, Equity Mid Cap. Moving on the next comparison parameter, that is, Fincash Rating, it can be said that ICICI Prudential MidCap Fund has a 2-Star Rating, while SBI Magnum Mid Cap Fund has 3-Star Rating. With respect to Net Asset Value, the NAV of SBI Magnum Mid Cap Fund is higher than that of ICICI Prudential MidCap Fund. As on 17th July, 2018, the NAV of SBI Magnum Mid Cap Fund was INR 72.3895 and of ICICI Prudential MidCap Fund was INR 95.05, approximately. The following table summarizes the various comparison components of the basics section.

Performance Section

As the name mentions, this scheme compares the CAGR performance of both the schemes at various time frames. Some of the timeframes for which the performance is compared are 1 Month, 3 Months, 1 Year, 5 Years, and Since Inception. When we look at the performance of both the schemes in almost all the time periods, ICICI Prudential MidCap Fund has performed better as compared to SBI Magnum Mid Cap Fund. The table given below tabulates the performance of both the schemes at different timeframes.

Yearly Performance

This category gives the absolute performance of both the schemes on a yearly Basis. If we look at the yearly bases performance, SBI Magnum Mid Cap Fund's performance is better as compared to ICICI Prudential MidCap Fund in many instances. The yearly performance of both the schemes is tabulated as follows.

Other Details Section

This section is the last section in case of comparison between both the schemes. Some of the comparison elements that form part of this section include AUM, Minimum SIP Investment, Minimum Lumpsum Investment, and Exit Load. The minimum monthly SIP investment of ICICI Prudential MidCap Fund is INR 1,000 and of SBI Magnum Mid Cap Fund is INR 500. The minimum lump sum amount of both the fund is same, i.e., INR 5,000. With respect to the AUM of both the schemes, the AUM of SBI Magnum Mid Cap Fund is higher in comparison to the AUM of ICICI Prudential MidCap Fund. As on May 31, 2018, the AUM of SBI Magnum Mid Cap Fund was INR 3,718 crores while of ICICI Prudential MidCap Fund was approximately INR 1,523 crores. The table given below summarizes the elements of other details section.

Growth of 10k Investments over the years