Edelweiss Mid Cap Fund only outperformer among 30 peers in April

Economic Times

02-05-2025

Getty Images On average, mid-cap funds returned 3.81%, underperforming the Nifty Midcap 150 TRI (4.99%) and BSE 150 MidCap TRI (6.35%).
Only the Edelweiss Mid Cap Fund managed to outperform its benchmark in April. There were around 30 funds in the mid-cap category during the period, and approximately 29 of them underperformed their respective benchmarks — indicating a 97% underperformance rate for the mid-cap category.
Edelweiss Mid Cap Fund delivered a return of 5.08% in April, outperforming its benchmark, the Nifty Midcap 150 TRI, which returned 4.99% during the same period.The fund is an open-ended equity scheme that primarily invests in mid-cap stocks. Its investment approach follows a bottom-up stock-picking strategy — focusing on company-specific fundamentals rather than macroeconomic trends.The fund maintains no particular bias toward any sector, with a core focus on mid-cap stocks listed on Indian exchanges. Its strategy is to identify companies early that have the potential to scale up and become materially larger over the medium to long term. The minimum application amount is Rs 100, and in multiples of Re 1 thereafter. The scheme is managed by Dhruv Bhatia, Trideep Bhattacharya, and Raj Koradia.
Around 29 mid-cap funds underperformed their respective benchmarks during the same period. Of these, 23 are benchmarked against the Nifty Midcap 150 TRI, while the remaining six are benchmarked against the BSE 150 MidCap TRI.For instance, Aditya Birla SL Midcap Fund returned 3.58% in April, lagging the 4.99% return posted by the Nifty Midcap 150 TRI. Axis Midcap Fund and Bandhan Midcap Fund — both benchmarked against the BSE 150 MidCap TRI — also failed to outperform during the month.Canara Robeco Mid Cap Fund delivered a return of 4.21% in April but failed to beat its benchmark, the BSE 150 MidCap TRI, which returned 6.35% during the same period. Franklin India Prima Fund, the oldest mid-cap fund, returned 3.92%, underperforming its benchmark, the Nifty Midcap 150 TRI.
HDFC Mid-Cap Opportunities Fund, the largest mid-cap fund by assets under management, delivered a 3.75% return in April, also failing to outperform the Nifty Midcap 150 TRI.
The second-largest mid-cap fund, Kotak Emerging Equity Fund, posted a return of 3.72%, underperforming its benchmark return of 4.99% during the month. Mirae Asset Midcap Fund and Motilal Oswal Midcap Fund returned 4.65% and 3.58% respectively in April but lagged behind the Nifty Midcap 150 TRI, their benchmark for the period.Quant Mid Cap Fund returned 4.21% in April, trailing its benchmark, the Nifty Midcap 150 TRI, which returned 4.99%. SBI Magnum Midcap Fund, also benchmarked to the Nifty Midcap 150 TRI, similarly failed to outperform.In April, mid-cap funds delivered an average return of 3.81%. Their benchmarks—the Nifty Midcap 150 TRI and the BSE 150 MidCap TRI—posted returns of 4.99% and 6.35% respectively.All mid-cap funds available during the period were considered for this analysis, focusing on regular plans with the growth option. Returns were calculated from April 1 to April 30.
Disclaimer: This exercise is not a recommendation. It aims solely to evaluate the performance of mid-cap funds against their respective benchmarks in April. Investors should not base investment or redemption decisions on this analysis alone. Always consider individual risk appetite, investment horizon, and financial goals before making any investment decisions.