Top performing midcap equity schemes over past one year

MUMBAI: Even as the BSE Mid cap index has lost steam in the past few months, thanks to the recent carnage in select mid cap stocks, those invested in the mid cap mutual fund schemes have much more to cheer.

Against over 5% decline in the S&P BSE Mid cap index over the last one-year period, the mid cap schemes in the diversified equity category have generated close to 4% gains on an average.

While 4% is the average category return, schemes like SBI Emerging Businesses have generated over 20% returns for its investors over the past one year period while others like Taurus Discovery, Axis Mid cap and Franklin India Smaller Companies have gained more than 15% in value during this period.

Mid cap schemes with over 10% returns in the past one-year period include schemes like Principal Emerging Bluechip, Franklin India Prima, Franklin India High Growth Companies, SBI Magnum Mid cap, Reliance Equity Opportunities, SBI Magnum Global and I-Pru Discovery.

That these mid-cap schemes could out perform the broader market index is on account of fine stock selection by their fund managers, taking cue from the 2008 financial crisis where many fund managers burnt their fingers by participating in the momentum stocks of 2007.

This time round, however, the domestic fund managers have played their cards well, investing in business with earnings visibility and growth prospects.

Some of the stocks invested into by the mutual fund managers that have generated decent returns in the past few months include names like - Mindtree, Blue Dart, Persistent Systems, PI Industries, Shri City Union, Pidilite Industries, Container Corp., Phoenix Mills, Kansai Nerolac, Vardhman Textile, ING Vysya Bank and Amara Raja Batteries among others.