HDFC Mid-Cap Opportunities Fund - Invest Online
A fund which has proved adept at containing downside in falling markets, HDFC Midcap Opportunities has retained a four- or five-star rating for the entire period since 2010. Typically parking 60-65 per cent of its portfolio in mid caps and 25-35 per cent in small caps, this fund also takes tactical calls to shift up to 25 per cent to large caps in dicey market conditions. Stocks are selected for their ability to grow strongly with high return on equity.
The fund has beaten its benchmark convincingly over three-, five- and seven-year periods by double-digit margins. This recent run has had its asset size expanding by leaps and bounds to over R10,200 crore by end June 2015. The fund's focus on mid-cap stocks rather than small caps may allow for deployment of this corpus without very high impact cost. What stands out in its yearly returns is its ability to weather any kind of bear market. In 2008, 2011 and 2013, this was a rare mid-cap fund to contain losses to levels far lower than peers as well as the benchmark. The fund has delivered muted participation in bull markets though, mostly just about matching the benchmark. This could be indicative of lower risk taking in the portfolio. The fund's tactical calls to raise its large-cap allocations have proved spot on. Incidentally, large caps were at a fairly high 24 per cent of the portfolio by end June.
It's a good fund to own if you want the returns that mid caps can provide without the nasty shocks that they can give you in bear markets.
Best Tax Saver Mutual Funds 2016 or ELSS Mutual Funds for 2016
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