The Mirae Asset Midcap Fund, launched on July 29, 2019, has delivered impressive returns for its investors. A monthly Systematic Investment Plan (SIP) of ₹10,000 has grown to ₹12.75 lakh over the past five years, reflecting an annualized return of 30.72%, according to Value Research.
Investors who made a lumpsum investment of ₹1 lakh at the fund’s inception have seen their investment rise to ₹3.56 lakh, translating to a compounded annual growth rate (CAGR) of 28.65%. Over the last three years, the fund has delivered a CAGR of 23.24%, though it slightly trailed its benchmark, the Nifty Midcap 150 (TRI), which achieved a CAGR of 28.41%.
The fund’s assets under management (AUM) have surged by 94% since inception, reaching ₹17,225 crore as of July 2024. Mirae Asset has expanded its active coverage from 320 companies in 2019 to 470 by mid-2024, with midcap coverage increasing to 125 companies within the AMFI market cap categorization.
Throughout its five-year history, the Mirae Asset Midcap Fund has navigated various market conditions, including both bullish and bearish phases. Launched during a market cool-down, the fund has capitalized on subsequent multiyear highs and robust earnings growth in the midcap segment.
June’s stress test results reveal that the fund can liquidate 50% of its portfolio within seven days and 25% within four days. The fund, an open-ended equity scheme, focuses on midcap stocks with the aim of providing long-term capital appreciation by investing predominantly in Indian equity and equity-related securities of midcap companies.
The top holdings of the Mirae Asset Midcap Fund – Regular Plan include Indian Bank (2.68%), Federal Bank (2.55%), Lupin (2.43%), Prestige Estates (2.40%), and Gland Pharma (2.39%).
