Over a dozen midcap MFs deliver alpha returns in 2024 so far; Quant Midcap Fund tops chart at 23%

Midcap equity mutual funds have delivered alpha returns in 2024 so far with Quant Midcap fund once again maintaining its lead over peers in this category. Average returns by midcap schemes on the year-to-date basis stand at 11.81% which are up from average returns of 10.91% given by their benchmarks.

There are currently 29 active midcap mutual funds and 14 MFs have outperformed their respective benchmark index on the YTD basis. The rest have been laggards.

The top five performers are Quant Mid Cap Fund, JM Midcap Fund, ITI Mid Cap Fund, Motilal Oswal Midcap Fund and HSBC Midcap Fund which have given returns in the range of 23.15% and 14.91%.



All these schemes are either benchmarked against S&P BSE 150 MidCap - TRI or Nifty Midcap 150 - TRI whose returns are at 11.97% and 10.64%, respectively.

Five funds with lowest returns in the said period include PGIM India Midcap Opp Fund, DSP Midcap Fund, Aditya Birla SL Midcap Fund(G), UTI Mid Cap Fund and SBI Magnum Midcap Fund-Reg(G) which have given returns between 5.32% and 7.89%.


The midcap mutual funds witnessed net inflows of Rs 1,793.07 crore in April and combined assets managed by them stood at Rs 3,16,223 crore.

April inflows were higher on a month-on-month basis versus Rs 1017.69 crore recorded in March but lower from February and January at Rs 1,808.18 crore and Rs 2,061.18 crore, respectively.

Also Read: SBI PSU Fund adds IEX in April, raises stake in LIC, SAIL and 2 more stocks

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)