Aditya Birla Sun Life Midcap Fund: Not a consistent performer

ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

How has the fund performed?
With a 10-year return of 16.31%, the fund has outperformed the benchmark index (13.48%) and mirrors the category average (16.52%).

Annualised performance (%)

Yearly performance (%)

Basic facts

Date of launch: October 3, 2002
Category: Equity
Type: Mid cap
Average AUM: Rs 2,222.19 Crore
Benchmark: Nifty midcap 100 index

What it costs

NAVs* growth option: Rs 301
Dividend option: Rs 35
Minimum investment: Rs 1,000
Minimum sip amount: Rs 1,000
Expense ratio(%): 2.28
Exit load: 1% for redemption within 365 days

*As on 11 Jul 2018
*As on 31 May 2018

Fund Manager: Jayesh Gandhi
Tenure: 3 years and 5 months
Education: B.COM, CFA, Masters in international management

Where does the fund invest?

How risky is it?

Should you buy?
This fund has retained its mid-cap tilt, paring back its earlier sizeable presence in large-caps due to the new re-categorisation norms. Its earlier highly diversified portfolio with small positions in individual bets has been replaced with a slightly compact portfolio that allows for meaningful exposure to its top picks. The fund manager has a benchmark-agnostic approach, and most stock bets are outside the benchmark index. This lends an element of aggression to the fund. The fund manager often emphasises on macro factors and drills down to sub-sectors for investible opportunities. The fund has not been able to sustain outperformance over longer time frames and its performance has been mediocre. Consistency in execution is needed to make it a worthy bet in this space.