Tata Midcap Growth mutual fund has returned 42.56% in one year; 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
1 JULY 1994
CATEGORY
EQUITY
TYPE
MID CAP
AUM*

Invest and Earn on ET Money - Get up to 9.5% p.a. returns

Rs.3,041 crore
BENCHMARK
NIFTY MIDCAP 150 TOTAL
RETURN INDEX




WHAT IT COSTS
NAV**
GROWTH OPTION
Rs.346.50
IDCW**
Rs.95.64
MINIMUM INVESTMENT
Rs.5,000
MINIMUM SIP AMOUNT
Rs.100
EXPENSE RATIO# (%)
1.95
EXIT LOAD
For units in excess of 12% of the investment, 1% will be charged for redemption within 365 days.
*AS ON 31 DEC 2023
**AS ON 23 JAN 2024
#AS ON 31 DEC 2023

FUND MANAGER
SATISH CHANDRA MISHRA
2 YEARS, 9 MONTHS



Recent portfolio changes
New entrants
Max Financial Services (Nov). Aavas Financiers, G R Infraprojects, Mahindra Logistics, TeamLease Services (Dec).
Complete exits
Coromandel International (Nov). Hindustan Unilever, KNR Constructions (Dec).


Should You Buy
Earlier known as Tata Growth, this fund has been in existence for nearly three decades. It adopted a mid-cap bias after the merger of Tata Midcap and Tata Capital Builder with Tata Growth, in 2012. It prefers businesses with long growth runway and compounding characteristics, with a bias for sector or market leaders. It invests across sectors offering structural growth as well as those exhibiting cyclical recovery. Its small-cap exposure has increased in recent months. While its long-term track record is decent, the fund has struggled in recent years. A sustained turnaround is needed to improve its return profile.