PGIM India Midcap Opportunities mutual fund review: On a high performance track

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

How the fund has performed

Where the fund invests

Basic facts

  • Date of launch: 12 February 2013
  • Category: Equity
  • Type: Mid Cap
  • AUM (As on 31 August 2021): Rs 2,709 cr
  • Benchmark: NIFTY Midcap 100 Total Return Index

What it costs
NAV (As on 21 September 2021)

  • Growth option: Rs 41.87
  • IDCW: Rs 23.11
  • Minimum Investment: Rs 5,000
  • Minimum SIP amount: Rs 1,000
  • Expense ratio (As on 31 August 2021) (%): 2.25
  • Exit load: For units in excess of 10% of the investment,0.5% will be charged for redemption within 90 days

Fund Manager: Aniruddha Naha
Tenure: 3 Years, 4 Months

Top 5 sectors in portfolio (%)

Top 5 stocks in portfolio (%)

Recent portfolio changes

  • New Entrants: Crompton Greaves Consumer Elec, Dalmia Bharat, GR Infraprojects, Gokaldas Exports, JB Chemicals, Affle (India), APL Apollo Tubes, Clean Science And Tech, Gujarat State Petronet, India Glycols, Praj Inds, Suven Pharma.
  • Complete Exits: Cholamandalam Inv, Graphite India, Indiamart Intermesh, NOCIL, GwR Infraprojects, John Cockrill India, MTAR Tech, SAIL, Whirlpool Of India

How risky is it?

Source: Value Research

Should You Buy
Earlier known as DHFL Pramerica Midcap Opportunities, the fund is now run solely under the banner of PGIM India since its 100% acquisition of the erstwhile joint venture. The change of ownership was followed by strengthening of internal processes under new CIO Srinivas Ravuri. Under its present fund manager, the fund places firm emphasis on low debt, strong cash flows and clean corporate governance. It avoids bets on sectors with high or rising competitive intensity. The fund manager prefers running an index agnostic portfolio. While it struggled for years till 2018, its performance has picked up since, boasting a much superior risk-return profile in its category. A few more years of consistent outperformance will cement its emergence as a worthy pick.