The plan achieved this with an annualized return of 30.72%, according to the Value Research report.
For investors who made an overall investment of ₹1 lakh since the inception of the fund, the value has grown to ₹3.56 lakh.
This reflects a CAGR of 28.65%.
Over the past three years, the plan has delivered a CAGR of 23.24%.
However, it slightly lagged its benchmark index, the Nifty Midcap 150 (TRI), which registered a CAGR of 28.41%.
The fund is benchmarked to the Nifty Midcap 150 (TRI) and its AUM has grown by 94% since inception, reaching ₹17,225 crore as of July 2024.
The fund has evolved along with the markets and Mirae Asset has increased its active coverage from 320 companies in 2019 to 470 companies on 29 July 2024.
Mid-cap coverage specifically increased to 125 companies from the 150 available under AMFI’s market capitalization categorization, Mirae Asset Mutual Fund said.
Over the past five years, the fund has gone through both bullish and bearish phases.
At its launch in 2019, midcap valuations had cooled after a bullish period, and the market was facing challenges such as a slowdown in exports, rural distress and changes that were not favourable to midcaps.
In contrast, in 2023, the midcap segment experienced multi-year highs and a solid earnings trajectory.
According to the results of the June stress tests, the fund can liquidate 50% of its portfolio in seven days and 25% in four days.
Mirae Asset Midcap Fund is an open-ended equity scheme focusing on mid-cap stocks.
Its objective is to provide long-term capital appreciation by investing predominantly in Indian equities and equity-related securities of mid-cap companies.
The fund manager also occasionally invests in other Indian stocks to build an optimal portfolio.
Main holdings of the Mirae Asset Midcap fund – Regular plan:
- Bank of India: 2.68%
- Federal Bank: 2.55%
- Lupine: 2.43%
- Prestigious properties: 2.40%
- Pharmaceutical Gland: 2.39%
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