HDFC Mid-Cap Opportunities has outpaced its benchmark by 10.7pc annually over past 5 years
FUND FACTS
INCEPTION: June 2007
CATEGORY: Equity: Mid and Small Cap
TYPE: Open-ended
AUM: Rs 3160.35 crore
BENCHMARK INDEX: CNX Midcap
WHAT IT COSTS
NAV: Rs 28.5390(G), Rs 21.5900(D)
MIN INVESTMENT: Rs 5000
MIN SIP AMOUNT: Rs 500
EXPENSE RATIO: 2.42%
EXIT LOAD: 1% if redeemed within one year
WHY INVEST IN IT?
Despite being the biggest fund in its category, it has managed to not lose its plot. The fund has stayed on course and remained underweight in largecaps relative to its category. It has also been cautious on the volatile smallcaps. It is the fund's stock selection in the mid-cap category, which has paid off well. This fund is growth-oriented and focuses on identifying companies that can grow at higher-than-industry rates. Size, however, has forced this fund to own a rather large number of stocks (64 at last count) with small weights in each of them. The latter probably helps control liquidity risks. Consistent returns and ability to navigate choppy markets are its USPs
MEET THE FUND MANAGER
Chirag Setalvad has a total16 years of experience of which13 years in Fund Management and Equity Research and 3 years in investment banking. From March 2007 till date he is with HDFC Asset Management Company. He has also worked with New Vernon Advisory Services Pvt. Ltd., ING Barings N.V
(Data and analysis of the fund have been sourced from Value Research)
