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).
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PNB Met Life - Mid Cap Fund Five year return (CAGR): 26.2% Fund manager: Amit Shah AUM: Rs 76 Crore
Tata AIA Life - Whole Life Mid-Cap Equity Fund Five year return (CAGR): 22% Fund manager: Rajeev Tewari AUM: Rs 11,070 Crore
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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
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Reliance Life Midcap Fund 2 Five year return (CAGR): 20.1% Fund manager: Biswarup Mohapatra AUM: Rs 53 Crore
