Edelweiss Mid Cap mutual fund has healthy long-term credentials; should you invest?

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
26 DECEMBER 2007
CATEGORY

EQUITY
TYPE
MID CAP
AUM*
Rs.3,798 crore
BENCHMARK
NIFTY MIDCAP 150 TOTAL
RETURN INDEX

WHAT IT COSTS
NAV**
GROWTH OPTION
Rs.61.71
IDCW**
Rs.35.58
MINIMUM INVESTMENT
Rs.5,000
MINIMUM SIP AMOUNT
Rs.100
EXPENSE RATIO# (%)
1.86
EXIT LOAD
1% for redemption within 90 days

*AS ON 30 SEPT 2023
**AS ON 23 OCT 2023
#AS ON 30 SEPT 2023

FUND MANAGER
SAHIL SHAH / TRIDEEP BHATTACHARYA (IN PIC)
1 YEAR, 9 MONTHS /1 YEAR, 11 MONTHS

Recent portfolio changes
New entrants
Concord Biotech, M&M Financial Services, Max Financial Services, Supreme Industries, Suzlon Energy, The Phoenix Mills (Aug). Fortis Healthcare, JSW Energy, Power Finance Corporation, REC, Sundaram Finance, The Indian Hotels Company (Sept).
Complete exits
ABB India, Carborundum Universal, KEC International, PI Industries, TCI Express (Aug). JK Lakshmi Cement (Sept).

Should you buy?
The fund invests in a mix of steady compounders and discounted stocks with potential for valuation re-rating. The preference is for quality businesses with profitable products and services, and run by good managements. The fund does not take outsized sectoral bets, macro calls or cash calls. Maintaining portfolio liquidity at all times is also a key focus area. Even though the fund’s long-term track record is healthy, its performance has dipped recently, lagging behind its index and peers since 2022 amid a broader mid-cap uptick. The fund needs to prove its credentials under its new stewardship to remain a worthy candidate in this segment.

(Source: Value Research)