Motilal Oswal Midcap Fund is an equity mutual fund that focuses on mid-cap companies, aiming to provide long-term capital appreciation by investing predominantly in mid-cap stocks. Below is a comprehensive overview of the fund:
Fund Overview
- Name: Motilal Oswal Midcap Fund
- Type: Open-ended equity scheme
- Category: Mid Cap Fund
- Launch Date: February 3, 2014
- Fund Manager: Not specified in the available sources
- Benchmark: Nifty Midcap 150 TRI
- NAV (Direct-Growth): ₹107.95 (as of May 2, 2025)
- NAV (Regular-Growth): ₹94.43 (as of May 2, 2025)
- AUM: ₹26,028 crore (as of March 31, 2025)
Expense Ratio:
- Direct Plan: 0.64%
- Regular Plan: 1.56%
Motilal Oswal Midcap Fund NAV
As of May 2, 2025, the Net Asset Value (NAV) for the Motilal Oswal Midcap Fund is as follows:
- Direct Plan (Growth): ₹107.95
- Regular Plan (Growth): ₹94.43
These NAVs reflect the fund’s performance up to the specified date. The Direct Plan typically has a lower expense ratio compared to the Regular Plan, which can lead to higher returns over the long term.
Fund Managers of Motilal Oswal Midcap Fund
As of May 2025, the Motilal Oswal Midcap Fund is managed by a team of experienced professionals:
Niket Shah
- Tenure: Since March 2018
Education: MBA in Finance
Experience: Prior to joining Motilal Oswal AMC, he served as Head of Midcaps Research at Motilal Oswal Securities Limited. He also held roles at Edelweiss Securities Ltd. and Religare Capital Markets Ltd.
Rakesh Shetty
- Tenure: Since November 2022
- Education: Bachelor of Commerce
- Experience: Before joining Motilal Oswal Mutual Fund, he was in equity and debt ETFs, indices, and product development in the capital markets sector.
Ajay Khandelwal
- Tenure: Since October 2024
- Education: MBA and Bachelor of Engineering
- Experience: He has previously worked with Canara Robeco Mutual Fund, BOI AXA Mutual Fund, B&K Securities, and Infosys.
Sunil Sawant
- Tenure: Since July 2024
- Education: Master of Commerce
- Experience: His prior experience includes roles at Sharekhan, Aditya Birla, and Angel Broking.
This diverse team brings a wealth of experience in equity research, portfolio management, and product development, contributing to the fund’s strategic investment decisions.
Motilal Oswal Midcap Fund Portfolio
As of March 31, 2025, the Motilal Oswal Midcap Fund maintains a portfolio, focusing on quality mid-cap companies with strong growth potential. Here’s an overview of its holdings:
Top 10 Holdings
| Company | Sector | Allocation (%) |
|---|---|---|
| Coforge Ltd. | IT Services & Consulting | 10.13% |
| Persistent Systems Ltd. | IT Services & Consulting | 9.53% |
| Kalyan Jewellers India Ltd. | Precious Metals, Jewellery & Watches | 7.18% |
| Polycab India Ltd. | Cables | 4.40% |
| Trent Ltd. | Specialty Retail | 4.37% |
| Max Healthcare Institute Ltd. | Healthcare | 4.20% |
| One97 Communications Ltd. | Financial Technology (Fintech) | 3.73% |
| Dixon Technologies (India) Ltd. | Consumer Electronics | 3.72% |
| Bharti Hexacom Ltd. | Telecom Equipment & Accessories | 3.66% |
| KEI Industries Ltd. | Cables | 2.78% |
These top 10 holdings constitute approximately 53.7% of the fund’s total assets.
Portfolio Composition
- Number of Stocks: 34
- 5 Stock Weight: 35.61%
- 10 Stock Weight: 53.7%
- 3 Sector Weight: 36.39%
Sector Allocation
| Sector | Allocation (%) |
|---|---|
| Technology | 26.57% |
| Consumer Cyclical | 14.65% |
| Industrials | 12.31% |
| Healthcare | 4.20% |
| Financial Technology (Fintech) | 3.73% |
The fund exhibits a significant tilt towards the technology sector, reflecting its strategy to invest in high-growth mid-cap companies within this domain.
Market Capitalization Breakdown
- Mid Cap Stocks: 65.71%
- Large Cap Stocks: 8.86%
- Small Cap Stocks: 16.32%
- Others: 9.11%
This distribution underscores the fund’s focus on mid-cap companies, aligning with its investment objective.
Motilal Oswal Midcap Fund Returns
As of March 19, 2025, the Motilal Oswal Midcap Fund – Regular Plan (Growth) has delivered the following returns across various investment horizons:
| Investment Period | ₹10,000 Invested On | Latest Value (₹) | Absolute Return (%) | Annualized Return (%) | Category Average (%) | Category Rank |
|---|---|---|---|---|---|---|
| 1 Week | March 12, 2025 | 10,306.20 | 3.06% | — | 4.10% | 30/30 |
| 1 Month | February 19, 2025 | 9,898.60 | -1.01% | — | 1.49% | 30/30 |
| 3 Months | December 19, 2024 | 8,051.10 | -19.49% | — | -13.27% | 29/30 |
| 6 Months | September 19, 2024 | 8,660.40 | -13.40% | — | -14.36% | 8/30 |
| Year-to-Date | January 1, 2025 | 8,116.20 | -18.84% | — | -11.91% | 30/30 |
| 1 Year | March 19, 2024 | 12,267.50 | 22.68% | 22.68% | 13.26% | 2/30 |
| 2 Years | March 17, 2023 | 18,471.70 | 84.72% | 35.74% | 27.39% | 1/30 |
| 3 Years | March 17, 2022 | 21,066.90 | 110.67% | 28.11% | 18.35% | 1/26 |
| 5 Years | March 19, 2020 | 45,818.70 | 358.19% | 35.56% | 30.00% | 2/24 |
| 10 Years | March 19, 2015 | 46,123.60 | 361.24% | 16.50% | 14.60% | 1/21 |
| Since Inception | February 24, 2014 | 91,564.60 | 815.65% | 22.14% | 18.12% | 5/30 |
Key Observations
- Short-Term Performance: The fund experienced a decline in the short term, with a -19.49% return over the past 3 months and -13.40% over 6 months.
- Long-Term Outperformance: Over longer horizons, the fund has significantly outperformed its category averages, especially notable in the 2-year (35.74% vs. 27.39%) and 3-year (28.11% vs. 18.35%) periods.
- Consistent Ranking: The fund consistently ranks among the top performers in its category over 1, 2, and 3-year periods.
Motilal Oswal Midcap Fund Direct Growth
As of March 20, 2025, the Motilal Oswal Midcap Fund – Direct Plan (Growth) has demonstrated notable performance across various investment horizons. Below is a detailed table outlining its returns:
| Investment Period | ₹10,000 Invested On | Latest Value (₹) | Absolute Return (%) | Annualized Return (%) | Category Average (%) | Category Rank |
|---|---|---|---|---|---|---|
| 1 Week | Mar 12, 2025 | 10,308.00 | 3.08% | — | 4.11% | 29/29 |
| 1 Month | Feb 19, 2025 | 9,905.60 | -0.94% | — | 1.57% | 29/29 |
| 3 Months | Dec 19, 2024 | 8,069.60 | -19.30% | — | -13.07% | 28/29 |
| 6 Months | Sep 19, 2024 | 8,703.10 | -12.97% | — | -13.86% | 9/29 |
| Year-to-Date | Jan 1, 2025 | 8,132.10 | -18.68% | — | -11.74% | 29/29 |
| 1 Year | Mar 19, 2024 | 12,396.00 | 23.96% | 23.96% | 14.61% | 2/29 |
| 2 Years | Mar 17, 2023 | 18,874.80 | 88.75% | 37.21% | 28.81% | 1/29 |
| 3 Years | Mar 17, 2022 | 21,777.60 | 117.78% | 29.53% | 19.63% | 1/25 |
| 5 Years | Mar 19, 2020 | 48,542.40 | 385.42% | 37.14% | 31.33% | 2/23 |
| 10 Years | Mar 19, 2015 | 51,992.20 | 419.92% | 17.91% | 15.74% | 1/20 |
| Since Inception | Feb 24, 2014 | 104,560.90 | 945.61% | 23.62% | 20.17% | 5/29 |
Motilal Oswal Midcap Fund Reglar Growth
As of March 20, 2025, the Motilal Oswal Midcap Fund – Regular Plan (Growth) has demonstrated the following performance across various investment horizons:
| Investment Period | ₹10,000 Invested On | Latest Value (₹) | Absolute Return (%) | Annualized Return (%) | Category Average (%) | Category Rank |
|---|---|---|---|---|---|---|
| 1 Week | Mar 13, 2025 | 10,112.50 | 1.13% | — | 1.76% | 28/30 |
| 1 Month | Feb 20, 2025 | 9,842.60 | -1.57% | — | 0.83% | 30/30 |
| 3 Months | Dec 20, 2024 | 7,912.90 | -20.87% | — | -15.07% | 29/30 |
| 6 Months | Sep 20, 2024 | 8,568.70 | -14.31% | — | -16.12% | 7/30 |
| Year-to-Date | Jan 1, 2025 | 8,008.50 | -19.91% | — | -13.46% | 29/30 |
| 1 Year | Mar 20, 2024 | 12,022.60 | 20.23% | 20.23% | 10.22% | 1/30 |
| 2 Years | Mar 20, 2023 | 18,226.70 | 82.27% | 34.90% | 26.31% | 1/30 |
| 3 Years | Mar 20, 2022 | 20,787.40 | 107.87% | 27.57% | 17.68% | 1/26 |
| 5 Years | Mar 20, 2020 | 42,669.70 | 326.70% | 33.65% | 28.52% | 2/24 |
| 10 Years | Mar 20, 2015 | 45,351.20 | 353.51% | 16.31% | 14.35% | 1/21 |
| Since Inception | Feb 24, 2014 | 90,350.10 | 803.50% | 22.00% | 17.83% | 5/30 |
Strengths of Motilal Oswal Midcap Fund
1) Strong Long-Term Performance
- The fund has delivered excellent annualized returns (e.g., ~37% over 5 years in Direct Plan) and has consistently outperformed the Nifty Midcap 150 TRI benchmark and category averages.
2) High-Conviction, Concentrated Portfolio
- It invests in 25–30 carefully selected midcap stocks, which helps amplify returns when stock selection is successful.
3) Experienced Fund Management Team
- Managed by Niket Shah and others with a strong track record in equity research and midcap investing.
4) Focus on Growth-Oriented Midcaps
- Targets companies with scalable business models and long-term competitive advantages (e.g., Coforge, Persistent Systems, Kalyan Jewellers).
5) Low Expense Ratio (Direct Plan)
- The Direct Plan has a lower expense ratio (~0.64%–0.68%), which enhances compounding over time.
6) Strong Risk-Adjusted Returns
- Sharpe Ratio and Alpha have been above category average, suggesting better return per unit of risk taken.
Risks of Motilal Oswal Midcap Fund
1) Very High Risk (Volatility)
- Being a midcap fund, it is more volatile than large-cap funds and prone to sharp drawdowns in market corrections.
2) Short-Term Underperformance
- It can underperform in sideways or bearish markets, as seen in recent 3- and 6-month returns (-19.3% to -14.3%).
3) Concentration Risk
- With a limited number of holdings, underperformance by a few key stocks can impact the fund’s overall returns.
4) Liquidity Risk
- Midcap stocks may have lower trading volumes, which can be a challenge during high redemptions or market stress.
5) Sector Bias
- A heavy tilt towards technology and consumer cyclicals may pose risk if those sectors underperform.
Summary
Motilal Oswal Midcap Fund is best suited for investors with:
- A high-risk appetite
- A long-term investment horizon (5+ years)
- Comfort with market fluctuations and short-term underperformance
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