HSBC Midcap Fund review: Sustained improvement needed to overcome erratic performance

ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of HSBC Midcap Fund, its portfolio and performance to help you make an informed investment decision.

DATE OF LAUNCH

9 AUG 2004
CATEGORY

EQUITY
TYPE
MIDCAP
AUM*

Rs.9,541 crore

BENCHMARK
NIFTY MIDCAP 150 TOTAL RETURN INDEX

NAV**
ROWTH OPTION

Rs.338.36
IDCW
Rs.69.19
MINIMUM INVESTMENT
Rs.5,000

MINIMUM SIP AMOUNT
Rs.500

EXPENSE RATIO# (%)
1.75

EXIT LOAD
For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days.

*AS ON 28 FEB 2025
**AS ON 2 APR 2025
#AS ON 28 FEB 2025

VENUGOPAL MANGHAT /CHEENU GUPTA (RIGHT)
1 YEAR, 5 MONTHS/2 YEARS, 4 MONTHS

New entrants
Kaynes Technology India (Jan) Abbott India, Ashok Leyland, Axis Bank, Mahindra & Mahindra (Feb)
Complete exits
Kalyan Jewellers India, Power Finance Corporation, REC (Jan)

Should You Buy

This mid cap fund (earlier L&T Midcap) runs a sizeable allocation in large and small caps. Its preference is for scalable businesses with strong execution capability, proven management track record and strong financials. Quality of business, ESG and valuation are key parameters for consideration. The fund runs a heavily diversified portfolio, yet takes healthy positions in its top bets. The fund has exhibited erratic performance over the years, unable to deliver consistently. Even as it outperformed sharply last year, only a sustained improvement would warrant a relook at this fund.