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HDFC, Nippon India or Invesco: Which mid-cap fund performed best?
- •Mid-cap mutual funds continued to see strong investor interest, attracting Rs 7,834.84 crore in September despite falling markets.
- •HDFC Mid Cap Fund recorded the highest estimated inflows among the three at Rs 1,303 crore, followed by Nippon India and Invesco.
- •Despite fresh inflows, all three funds experienced a decline in assets under management due to negative market movements in September.
- •Invesco delivered the strongest longer-term performance, leading with 21.32 percent over six months and 20.71 percent annualized over three years.
- •The three funds maintain vastly different portfolio strategies, varying significantly in stock concentration, cash holdings, and market-cap exposure.
Key Questions Answered
HDFC Mid Cap Fund recorded the highest estimated September inflows among the three compared schemes at Rs 1,303 crore. Nippon India Growth Mid Cap Fund followed with Rs 838 crore, while Invesco India Midcap Fund received an estimated Rs 837 crore.
All three schemes recorded negative returns in September amid falling markets. Nippon India Growth Mid Cap recorded the smallest monthly decline at 5.61 percent, compared to 6.24 percent for Invesco India Midcap and 7.17 percent for HDFC Mid Cap.
Invesco India Midcap has the most concentrated portfolio with 43 stocks, whereas Nippon India Growth Mid Cap is more diversified with 101 stocks, and HDFC Mid Cap sits between them with 79 stocks. Additionally, HDFC maintains higher cash at 8.26 percent, Nippon India has the highest large-cap allocation at 21.54 percent, and Invesco holds the highest small-cap exposure at 17.88 percent.
