Mid-cap mania: These ULIPs deliver up to 26% returns in the last 5 years

Investments in mid and small-cap stocks have rewarded the investors handsomely over the last five years. Midcap funds offered by both mutual funds and Unit Linked Insurance Plans (ULIP) have delivered notable returns during the period. ULIP midcap funds, as a category, delivered a compounded annualised return of 19.2% over the five years while mutual funds midcap category clocked 20.6%. Meanwhile the Nifty Midcap 100 – TRI gave 21.6%.
Only five out of 18 ULIP midcap funds outperformed the Nifty Midcap 100-TRI. On the mutual fund side, nine out of 22 schemes outperformed the index.
Here are the top 10 ULIP midcap funds in terms of the five year returns. Return data was as of December 5, 2023. Source: Morningstar Investment Research India Private Limited (formerly known as Morningstar Investment Adviser India Private Limited).

PNB Met Life - Mid Cap Fund
Five year return (CAGR): 26.2%
Fund manager: Amit Shah
AUM: Rs 76 Crore

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Future Generali Life - Future Midcap Fund
Five year return (CAGR): 24.5%
Fund manager: Niraj Kumar and Srijan Sinha
AUM: Rs 74 Crore

Max Life High Growth Fund
Five year return (CAGR): 24.2%
Fund manager: Saurabh Katariya, Naresh Kumar and Rohit Tandon
AUM: Rs 3,650 Crore

AEGON Life-Opportunity Fund
Five year return (CAGR): 24%
Fund manager: Avinash Agarwal and Vishal Advani
AUM: Rs 200 Crore

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Tata AIA Life - Whole Life Mid-Cap Equity Fund
Five year return (CAGR): 22%
Fund manager: Rajeev Tewari
AUM: Rs 11,070 Crore

Canara HSBC Oriental Bank of Commerce Life - Unit Linked Emerging Leaders Equity Fund
Five year return (CAGR): 21.2%
Fund manager: Balwinder Singh
AUM: Rs 560 Crore

Reliance Life Midcap Fund 2
Five year return (CAGR): 20.1%
Fund manager: Biswarup Mohapatra
AUM: Rs 53 Crore

Also see: Powering small-cap funds: Stocks in top holding that drive performance

Edelweiss Tokio Life Equity Midcap Fund
Five year return (CAGR): 20%
Fund manager: Ritika Chhabra
AUM: Rs 340 Crore

Reliance Life Midcap Fund 1
Five year return (CAGR): 19.6%
Fund manager: Biswarup Mohapatra
AUM: Rs 32 Crore

Aditya Birla Sun Life - Individual Multiplier Fund
Five year return (CAGR): 18.2%
Fund manager: Bhaumik Bhatia
AUM: Rs 3,450 Crore

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