Axis Midcap mutual fund review: Worthy pick over market cycles

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.

BASIC FACTS
DATE OF LAUNCH
18 FEBRUARY 2011

CATEGORY
EQUITY
TYPE
MID CAP
AUM*
Rs.17,645 crore
BENCHMARK
S&P BSE 150 MIDCAP
TOTAL RETURN INDEX

WHAT IT COSTS
NAV**
GROWTH OPTION
Rs.64.32
IDCW
Rs.31.41
MINIMUM INVESTMENT
Rs.5,000

MINIMUM SIP AMOUNT
Rs.500
EXPENSE RATIO*** (%)
1.63
EXIT LOAD
For units in excess of 10% of the investment,1% will be charged for redemption within 365 days

*AS ON 31 MARCH 2022
**AS ON 4 MAY 2022
***AS ON 31 MARCH 2022

FUND MANAGER
SHREYASH DEVALKAR
TENURE: 5 YEARS, 5 MONTHS

Recent portfolio changes
New Entrants
Gujarat Fluorochemicals, TVS Motor Company, Vedant Fashions, Fortis Healthcare, Linde India, Oberoi Realty.

Complete Exits
Tata Consumer Products, FSN E-Commerce Ventures, Indiamart Intermesh, Indigo Paints, Medplus Health Services.

Should you buy?
This mid-cap fund retains a heavy presence in large-caps unlike many peers. This is owing to the strict emphasis on quality in the fund manager’s stock selection approach. His preference is for businesses that either have leadership position within a niche area or challenge bigger rivals in a larger arena. The portfolio size has expanded from 35-40 stocks two years ago to around 60 as more businesses started participating in the earnings uptick amid economic recovery. Owing to its distinct style, the fund boasts a much superior downside performance but does tend to underperform in momentum driven markets like in 2021. It remains a worthy pick over complete market cycles.

(Source: Valueresearch)