Mirae Asset Midcap Fund – Detailed Review & Insights
Mirae Asset Midcap Fund – Detailed Review & Insights
Sushil Bajaj |
28 November 2025 |
📅 Last Updated on: November 28, 2025
The Mirae Asset Midcap Fund (MAMCF) is an open-ended equity scheme that predominantly invests in mid-cap companies (101st to 250th as per SEBI/AMFI market-cap classification). Launched on 29 July 2019, the fund seeks to capture the long-term growth potential of India’s expanding mid-cap segment.
Mid-cap companies often operate in the growth and early-maturity phases of the business lifecycle, offering higher scalability, improving profitability, and opportunities to become tomorrow’s large caps. This fund aims to benefit from such companies through intensive primary research, a strong GARP philosophy (Growth-At-Reasonable-Price), and disciplined risk management.
What is a Midcap Fund?
A midcap fund is an equity mutual fund that primarily invests in mid-sized companies — usually ranked between 101st to 250th by market capitalization in India. These companies are often in the growth stage, offering a balance between the stability of large caps and the high-risk/high-return potential of small caps.
Key Features of Midcap Funds:
Ideal for those seeking wealth creation with moderate risk appetite
Higher growth potential than large caps
More volatility than large-cap funds, but lower than small caps
Suitable for investors with medium-to-long-term horizons (5+ years)
Quick Snapshot
Particular
Details
Fund Name
Mirae Asset Midcap Fund (MAMCF)
Category
Mid Cap Fund
Inception Date
29 July 2019
Benchmark
Nifty Midcap 150 TRI
Risk Profile
Very High
Fund Manager
Mr. Ankit Jain (since 2019)
Exit Load
If redeemed within 1 year (365 days) from the date of allotment: 1%
Entry Load
NIL
Minimum Allocation to Mid Caps
65%
The fund aims to:
Invest in high-quality mid-cap companies with strong business models
Identify potential future large caps
Build a diversified portfolio driven by robust primary research
Generate long-term wealth by focusing on high-growth companies at reasonable valuations
Benchmark Details
The fund’s performance is judged against the NIFTY Midcap 150 TRI index, which represents:
150 mid-sized companies
Broad sectoral representation
A fair indicator of India’s mid-cap market health
Updated semi-annually as per SEBI norms
The fund maintains low benchmark overlap, meaning it:
Follows active stock selection
Does not simply mirror the index
Aims to generate alpha (excess returns)
This is one of the reasons for the fund’s long-term outperformance.
Investment Style & Strategy
1. Core Philosophy
Growth-at-Reasonable-Price (GARP)
Focus on high-quality growth businesses
Emphasis on sustainable competitive advantage
Preference for companies with better return ratios and strong governance
3. Allocation Philosophy
Mid Caps: ~71%
Large Caps: ~9%
Small Caps: ~19%
Others: ~1%
2. Research-Driven Process
The investment process includes:
Quantitative Screening
Earnings growth
ROI
Liquidity
Management quality
Size & benchmark alignment
Primary Research
Management meetings
Industry checks, plant visits
Dealer feedback
Financial modeling
Brokerage insights
Portfolio Construction
Balanced, diversified allocation
Core + tactical approach
Liquidity & risk parameters considered
Fund Snapshot and Performance Quants
Fund Snapshot and Performance Quants
Screener: Performance overview for
Mirae Asset Mid Cap Fund
Q1. Is Mirae Asset Midcap Fund good for long-term investment?
A1: Yes. It is designed for 5+ years with strong growth potential from midcap companies.
Q2. What benchmark does the fund follow?
A2: Primary benchmark is Nifty Midcap 150 TRI.
Q3. How risky is this fund?
A3: It is categorized as Very High Risk due to midcap exposure.
Q4. What is the fund manager’s experience?
A4: Mr. Ankit Jain has managed the fund since July 2019.
Q5. Does the fund invest in small caps too?
A5: Yes, around 19% allocation in small caps (as of May 2025).
Q6. Is this fund suitable for SIP?
A6: Yes, SIP performance since inception is strong with 22.55% XIRR.
The Mirae Asset Midcap Fund aims to deliver long-term wealth creation by investing in high-quality midcap companies with strong growth potential. With a research-backed process, disciplined stock selection, and diversified sector exposure, it serves investors seeking higher returns over a long investment horizon.
However, being a midcap fund, it carries very high market risk, and investors must remain invested for 5 years or more to benefit fully.
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