Searching for mid-cap mutual funds? Here are 5 funds for investing in May

ETMutualFunds has shortlisted these top midcap mutual funds based on mean rolling returns, consistency in the last three years, downside risk, outperformance, and asset size (threshold size is Rs 50 crore).

Launched in February 2011, the fund has offered a 22.2% return based on rolling frequency in the last three years. Axis Mid Cap Fund has been in the third quartile in the last 12 months. The scheme had been in the fourth quartile earlier.

Launched in December 2013, the fund has offered a return of around 26.6% based on rolling returns. PGIM India Midcap Opportunities Fund has been in the fourth quartile for the last 25 months.

Launched in May 2007, the midcap fund has offered a return of around 24.7%. Invesco India Midcap Fund has been in the first quartile in the last 12 months. The scheme had been in the second quartile earlier.

Launched in March 2007, the scheme has offered a return of around 24.6%. The scheme had been in the second quartile over the last eight months.

Launched in July 1994, the scheme has offered a return of around 23.4%. The fund has been in the second quartile in the last 10 months. The scheme had been in the third quartile earlier.

One should consider midcap funds only if they have a very high risk tolerance and also have a longer investment horizon of, say, seven to 10 years. A longer investment horizon would help investors to navigate the volatility better.