8 mid cap schemes fail to beat benchmarks in 2020, 2021, 2023
These eight mid cap schemes underperformed their respective benchmarks in 2020, 2021, and 2022. The mid cap schemes are benchmarked against Nifty Midcap 100 — TRI, Nifty Midcap 150 — TRI, and S&P BSE 150 MidCap — TRI.
Benchmark2020
2021
2022
Nifty Midcap 150 — TRI
25.56%
48.16%
3.91%
S&P BSE 150 MidCap — TRI
26.29%
48.65%
3.64%
DSP Midcap Fund
Nifty Midcap 150 — TRI
23.64%
28.32%
-4.93%
Franklin India Prima Fund
Nifty Midcap 150 — TRI
17.78%
32.62%
2.17%
HSBC Midcap Fund
Nifty Midcap 150 — TRI
19.05%
30.39%
1.07%
ICICI Pru Midcap Fund
Nifty Midcap 150 — TRI
19.11%
44.82%
3.11%
LIC MF Midcap Fund
Nifty Midcap 150 — TRI
24.32%
36.57%
-4.09%
Tata Mid Cap Growth Fund
Nifty Midcap 150 — TRI
24.26%
40.02%
0.60%
Axis Midcap Fund
S&P BSE 150 MidCap — TRI
26.01%
39.93%
-5.07%
Invesco India Midcap Fund
S&P BSE 150 MidCap — TRI
24.38%
43.14%
0.51%
Source:ACE MF, Yearly returns as on September 9,2023
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Around 24 mid cap schemes have completed three years of existence in the market. Out of these 24 mid cap schemes, eight schemes have underperformed against their benchmarks for consecutive three years. Note, we have included only schemes that have failed to beat their benchmarks in three consecutive years starting from 2020 to 2022.
Out of these eight schemes, three schemes have underperformed their benchmark in 2019, too. These schemes were: HSBC Midcap Fund, ICICI Prudential Midcap Fund, and LIC MF Midcap Fund. LIC MF Midcap Fund, launched in January 2017, has been underperforming against its benchmark since 2017, based on yearly returns.
The regular and growth options were taken for the analysis.
Note, this is not a recommendation. The main purpose of the exercise was
