Launched in August 2004, L&T Midcap Fund invests primarily in companies with market capitalisation between the highest and the lowest constituent of the Nifty Midcap 100 index. The fund was a part of DBS Cholamandalam Asset Management Company before it was acquired by L&T Investment Management in February 2010. It ranked 1 in the mid-cap category of CRISIL Mutual Fund Rankings (CMFR) - June 2018. S N Lahiri has been managing the fund since June 2013. He was joined by Vihang Naik in June 2016.
The fund's month-end assets under management (AUM) increased over eight times from Rs 366 crore in October 2015 to Rs 3,095 crore in September 2018. Its investment objective is to generate capital appreciation by investing primarily in mid-cap stocks.
The fund has outperformed the benchmark (Nifty Mid Cap 100 TRI) and its peers (funds ranked under the mid cap category in CMFR - June 2018) across all trailing periods under analysis except the one-year trail.
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