Mid Cap Funds – July 2022

Before I start off on any analysis in this segment, even at the cost of a repetitive bore I will put forth this disclaimer. All fund schemes are taken as direct. However, even if you are a direct investor, hire a financial advisor that you trust who can guide with investments. Pay for your advice.

Fund category definition: Funds with minimum 65% portfolio allocation to Mid Cap (101-250 by market cap size) stocks

Benchmark: Nifty Mid Cap 150 TRI with a change of 11.67% in July 2022 and a 1-year return of 7.69%.

All data as on: 29th July, 2022

Summary

mid-cap-funds-summary-july-2022

In terms of AUM ranking, there’s no change.

Nippon has reduced its expense ratio by 4 basis points to still remain at a very high 1.20%.

In terms of number of stocks also, the funds have again been fairly stable.

In this category too, last months’ green dominated report card has been inverted. This month only 3 funds have outperformed the benchmark and the number goes up slightly to four for the 1-year performance.

Market Cap Allocation

mid-cap-funds-market-cap-july-2022

This month, many funds including Axis, HDFC, Nippon and Mirae see a 3% or more shift towards Mid Cap allocation. It looks like the remaining action from the AMFI reclassification last month.

Top 5 sectors

mid-cap-funds-sector-july-2022

In Nippon, there is an organic swap between Consumer Durables and Leisure Services, with the latter making the cut to the Top 5 Sectors this month.

Franklin sees an organic swap between Consumer Non Durables and Cement & Cement Products, with the latter featuring in the Top 5 Sectors this month.

Organic swaps seem to be the order of the day with Chemicals knocking out Auto Ancilliaries in Sundaram.

Top 10 stocks & Movement

mid-cap-funds-stocks-july-2022

HDFC has substantially increased its’ position in Coforge zooming up from 0.26% to 1.66%. There are also three exits – RITES (0.43%), Blue Star (0.42%) and WABCO India (0.27%).

Axis has a new 0.29% position in SKF India. There are also two exits – Divi’s Labs (0.20%) and Gujarat Fluorochemicals (0.04%).

Nippon has drastically cut down it’s allocation in Dr. Reddy’s Labs from 1.68% to 0.31%. The fund has four new stocks – J.K. Cement make a re-entry after February (0.42%), Poonawalla Fincorp (0.39%), Ajanta Pharma (0.23%) and NMDC (0.22%). There’s also a long line of exits – Oil India (0.72%), Macrotech Developers (0.48%), ICICI Prudential Life Insurance after a mere four months (0.41%), Lux Industries (0.17%), Fine Organic (0.13%) and LIC after two miniscule months (0.12%).

Mirae has reduced it’s position in Hindustan Aeronautics by 0.88%, bringing it to less than half at 0.86%. There are two new entrants – HPCL (0.86%) and NALCO (0.60%). The fund has also exited it’s 0.67% position in Jyothy Labs.

Franklin has exited three stocks – Infosys (0.95%), Atul Ltd. (0.55%) and RBL Bank (0.15%). To make up for it, there are four new entrants – Coforge (1.00%), Escorts after a gap of 3 months (0.56%), Zomato (0.43%) and Indusind bank (0.42%).

Sundaram has two new entrants – United Breweries (0.74%) and APL Apollo Tubes (0.15%).

UTI has exited it’s 0.23% position in Kansai Nerolac.

Check out the other categories and what the funds there were up to:

Large Cap Funds – July 2022

Flexi Cap Funds – July 2022

Multi Cap Funds – July 2022

Large & Mid Cap Funds – July 2022

Small Cap Funds – July 2022

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