Midcap funds get ahead of largecaps in AUM race

Midcap funds get ahead of largecaps in AUM race

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ET Intelligence Group: The share of assets under management (AUM) by midcap funds has surpassed that of large-cap funds by 0.6 percentage point, the most on record, as per data from the Association of Mutual Funds in India. Midcap funds constitute 12.9% of the total equity AUM, compared with 12.3% for their large-cap peers. Now, mid-cap funds have become the third-largest fund category after sectoral and flexi-cap funds.

Historically, the AUM share of midcap funds has lagged large-cap funds by about 5.5 percentage points.

Midcap funds get ahead of largecaps in AUM raceETMarkets.com


Growth Driven by Mkt Appreciation


In 2020, large-cap funds held a peak share of 20% in the equity funds AUM. Over the past year, their share has decreased by 228 basis points, while that of the midcap funds has increased by 30 basis points.

In the past year, the equity AUM of midcap funds has increased 64% to Rs 3.8 lakh crore. This was significantly faster than the 36% growth in the large-cap AUM to Rs 3.6 lakh crore. The growth can be attributed to fresh inflows as well as market appreciation. Midcap funds reported an inflow of Rs 24,438 crore over the previous year compared with Rs 7,287 crore for the large-cap funds.

Additionally, the Nifty 150 Midcap index gained 55% over the 12 months to July 2024, boosting the AUM, compared with a 27.8% gain by the Nifty 50.

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