Mirae Asset Midcap Fund performance review analysis for January
Mirae Asset Midcap Fund performance review analysis for January: This detailed review of Mirae Asset Midcap Fund evaluates its recent performance, comparing it to the Nifty index, and analyzes key metrics such as Sharpe Ratio and sectoral allocation. The fund's strategy, top holdings, and recent portfolio moves are explored to provide insights for existing and potential investors.
Mirae Asset Midcap Fund Direct Growth performance review analysis for January: Mirae Asset Midcap Fund Direct Growth, managed by the seasoned fund managers Ankit Jain, remains a prominent player in the Mid-Cap. Mirae Asset Midcap Fund boasts an impressive AUM of ₹16695.39 crore. Under the guidance of Ankit Jain, the fund adheres to its objective of the investment objective of the scheme is to provide long-term capital appreciation from a portfolio investing predominantly in Indian equity and equity related securities of midcap companies. From time to time, the fund manager may also participate in other Indian equities and equity related securities for optimal portfolio construction. There is no assurance that the investment objective of the Scheme will be realized. This detailed review of Mirae Asset Midcap Fund evaluates its recent performance, comparing it to the NIFTY Midcap 150 index, and analyzes key metrics such as sharpe ratio and sectoral allocation. The fund's strategy, top holdings, and recent portfolio moves are explored to provide insights for existing and potential investors.
Performance Analysis:
Over the past week, Mirae Asset Midcap Fund returned -4.34%, showing a negative delta of -2.01% with respect to NIFTY Midcap 150. The one-month performance shows a negative trend, with the fund delivering -9.06% against the NIFTY Midcap 150’s -7.79%.
The performance over the longer durations is mentioned below:
| Period | Mutual Fund Returns | NIFTY Midcap 150 Performance | Performance Difference |
|---|---|---|---|
| 6 Months | -7.25% | -5.89% | -1.36% |
| 1 Year | 10.56% | 14.73% | -4.17% |
| 3 Years | 55.76% | 67.25% | -11.49% |
| 5 Years | 201.56% | 204.75% | -3.19% |
Top Holdings of the Fund
Below is the list of top holdings in the fund:
| Holding Name | Percentage of Portfolio |
|---|---|
| Lupin | 2.75% |
| Indian Bank | 2.66% |
| Federal Bank | 2.55% |
| One 97 Communications | 2.48% |
| Delhivery | 2.43% |
Sector Allocation of the Fund
| Sector Name | Weightage (%) |
|---|---|
| Biotechnology & Drugs | 9.41% |
| Software & Programming | 8.66% |
| Regional Banks | 7.49% |
| Consumer Financial Services | 5.83% |
| Construction Services | 4.44% |
| Chemical Manufacturing | 4.38% |
| Misc. Fabricated Products | 3.64% |
| Metal Mining | 3.43% |
| Tires | 3.26% |
| Business Services | 3.13% |
| Investment Services | 3.0% |
| Misc. Capital Goods | 2.74% |
| Healthcare Facilities | 2.53% |
| Appliance & Tool | 2.52% |
| Construction - Raw Materials | 2.24% |
| Communications Services | 2.14% |
| Oil & Gas Operations | 2.12% |
| Auto & Truck Parts | 2.06% |
| Footwear | 2.02% |
| Natural Gas Utilities | 1.93% |
| Real Estate Operations | 1.76% |
| Constr. - Supplies & Fixtures | 1.76% |
| Electric Utilities | 1.69% |
| Retail (Catalog & Mail Order) | 1.57% |
| Major Drugs | 1.54% |
| Railroads | 1.13% |
| Personal & Household Prods. | 1.12% |
| Auto & Truck Manufacturers | 1.01% |
| Apparel/Accessories | 0.89% |
| Insurance (Life) | 0.87% |
| Iron & Steel | 0.8% |
| Aerospace & Defense | 0.76% |
| Textiles - Non Apparel | 0.64% |
| Fabricated Plastic & Rubber | 0.56% |
| Beverages (Alcoholic) | 0.37% |
Risk Measurement
Understanding the risk associated with the fund is crucial for investors. The Sharpe Ratio, which measures risk-adjusted returns, is a key indicator of how well the fund compensates investors for the risk taken. Over the past year, the fund's Sharpe Ratio stands at 0.97, while the three-year and five-year ratios are 0.92 and 1.04, respectively. Sharpe ratio values above 1 are considered good, whereas values below 1 are considered bad.
In terms of volatility, the standard deviation over the same periods— 13.51% for one year, 14.87% for three years, and 20.21% for five years. Higher standard deviations indicate greater volatility, while lower ones suggest more stable returns.
Recent Portfolio Activity
In the last month, the fund acquired new positions in the following stocks:
| Stock Name | Holding (%) | No of shares | Holding Value (in Cr) |
|---|---|---|---|
| KPIT Technologies | 0.65% | 735414 | 107.72 |
| Bharat Heavy Electricals | 0.57% | 4182718 | 95.96 |
| Au Small Finance Bank | 0.48% | 1443173 | 80.69 |
| Vishal Mega Mart | 0.41% | 6410220 | 68.23 |
| Acme Solar Holdings | 0.39% | 2792673 | 65.81 |
| United Breweries | 0.37% | 304503 | 62.03 |
The fund has increased its position in the following stocks:
| Stock Name | No of shares (Before purchase) | No of shares (After purchase) | Holding Value (in Cr) |
|---|---|---|---|
| Tata Communications | 2168279.0 | 2094394.0 | 356.76 |
| HDFC Asset Management Company | 922751.0 | 843315.0 | 354.12 |
| Hindustan Petroleum Corporation | 8995306.0 | 8643425.0 | 353.30 |
| Tata Power | 7726671.0 | 7175910.0 | 281.59 |
| SRF | 1377625.0 | 1218622.0 | 272.73 |
| Syngene International | 4335095.0 | 2431296.0 | 208.72 |
| National Aluminium Company | 1.0714383E7 | 9308011.0 | 197.06 |
| Suzlon Energy | 3.4055214E7 | 2.7513173E7 | 171.19 |
| Deepak Nitrite | 787036.0 | 657377.0 | 163.97 |
| Oberoi Realty | 751452.0 | 687879.0 | 159.01 |
| Bharat Forge | 1574748.0 | 1196630.0 | 155.51 |
| Ola Electric Mobility | 2.1236219E7 | 1.7809892E7 | 152.69 |
| Multi Commodity Exchange Of India | 268447.0 | 236043.0 | 147.16 |
| UPL | 3328342.0 | 2608045.0 | 130.67 |
| Bharat Electronics | 5710645.0 | 4309995.0 | 126.35 |
| Mahindra & Mahindra Financial | 5254347.0 | 4539060.0 | 120.27 |
| Balkrishna Industries | 408962.0 | 399415.0 | 116.24 |
| Berger Paints India | 1533789.0 | 1346424.0 | 60.40 |
The fund has reduced its holding in the following stocks:
| Stock Name | No of shares (Before reduction) | No of shares (After reduction) | Holding Value (in Cr) |
|---|---|---|---|
| Indian Bank | 8511494.0 | 8385862.0 | 444.41 |
| Cummins India | 1120041.0 | 1052111.0 | 344.47 |
| Indus Towers | 1.0161109E7 | 9819109.0 | 335.62 |
| Oracle Financial Services Softwa | 316553.0 | 243748.0 | 311.75 |
| Fortis Healthcare | 4495732.0 | 4146619.0 | 298.50 |
| Prestige Estates Projects | 1791810.0 | 1738627.0 | 294.53 |
| CEAT | 899995.0 | 867747.0 | 280.49 |
| FSN E-Commerce Ventures | 1.7049281E7 | 1.5994857E7 | 261.94 |
| PB Fintech | 1546329.0 | 1114594.0 | 235.06 |
| Coforge | 325356.0 | 237565.0 | 229.56 |
| Voltas | 1163790.0 | 1063790.0 | 190.42 |
| Page Industries | 54104.0 | 31329.0 | 148.86 |
| Apollo Tyres | 3284937.0 | 2774167.0 | 146.87 |
| Tata Steel | 1.1433325E7 | 9728325.0 | 134.30 |
| Vijaya Diagnostic Centre | 1275745.0 | 1174139.0 | 124.09 |
| K P R Mill | 1892576.0 | 1072748.0 | 106.66 |
| Dalmia Bharat | 775104.0 | 561558.0 | 99.25 |
| Laurus Labs | 2334758.0 | 1021977.0 | 61.60 |
| Utkarsh Small Finance Bank | 2.1590307E7 | 1.6296558E7 | 55.40 |
Disclaimer: This is an AI-generated live story and has not been edited by LiveMint staff.
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