PGIM India Midcap Fund
EQUITY
EQUITY
An open ended equity scheme predominantly investing in mid cap stocks
NAV as on 08 May 2026
₹75.2100
-0.23%
Benchmark
Nifty Midcap 150 - TRI
Risk
Very High
AUM as on 30 Apr 2026
₹10,681.27 Cr
Date of Inception
02 Dec 2013
Expense Ratio (07 May 2026)
0.55%
Ideal Holding Period
4 Years+
₹1 Lakh invested
Over last :
Since Inception
Invested as :
Lumpsum
Fund Returns
Annual Returns*
16.44%
Current Value
₹6,53,613
Benchmark Returns
19.22%
₹8,74,397
*Returns are CAGR - Compounded Annual Growth Rate
The performance provided is for Direct Plan - Growth Option.
The above returns are as on date 31 Mar 2026
Fund Returns
Annual Returns*
16.44%
Current value
₹6,53,613
Benchmark Returns*
19.22%
Current value
₹8,74,397
*Returns are CAGR - Compounded Annual Growth Rate
The performance provided is for Direct Plan - Growth Option.
The above returns are as on date 31 Mar 2026
Exit Load
For Exits within 90 days from date of allotment of units: 0.50%.
For Exits beyond 90 days from date of allotment of units: NIL.
For Exits beyond 90 days from date of allotment of units: NIL.
Minimum Investment
SIP : ₹1,000 | Lumpsum : ₹5,000
Portfolio Holdings as on 31 March 2026
Asset Allocation
Mid Cap - 67.59%
Large Cap - 18.86%
Small Cap - 10.86%
Cash and Cash Equivalents - 1.95%
MUTUAL FUND - 0.54%
Debt - 0.20%
Top holdings
PERSISTENT SYSTEMS LTD
2.73 %
BHARTI HEXACOM LIMITED
2.66 %
JK CEMENT LTD
2.64 %
UNO MINDA LTD
2.59 %
MAX FINANCIAL SERVICES LTD
2.56 %
Top Sectors
Financial Services
23.96 %
Capital Goods
12.97 %
Healthcare
11.62 %
Consumer Services
8.32 %
Automobile and Auto Components
8.15 %
Quantitative Indicators
Standard Deviation
0.15
Sharpe ratio
0.49
Beta
0.84
Portfolio Turnover
0.48%
Performance
Historical Returns
Historical Returns Calculator
Historical Returns as of March 31, 2026 with lumpsum investment of ₹10,000
PGIM India Midcap Fund
Returns ^
Value*
Nifty Midcap 150 - TRI**
Returns ^
Value*
NIFTY 50 TR Index#
Returns ^
Value*
1 Year
-2.55%
₹
9,744 2.26 %
₹
10,227 -3.97 %
₹
9,601 3 Years
11.67%
₹
13,926 20.34 %
₹
17,427 10.03 %
₹
13,320 5 Years
13.94%
₹
19,201 17.50 %
₹
22,395 10.01 %
₹
16,113 Since Inception
16.44%
₹
65,340 19.22 %
₹
87,360 12.26 %
₹
41,603 - Date of Inception: Direct Plan: December 02, 2013.
- ^Above returns are CAGR - Compounded Annual Growth Rate.
- ** Scheme Benchmark. # Standard Benchmark. *Based on standard investment of Rs.10,000 made at the beginning of the relevant period.
- Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments.
- Different plans have a different expense structure. The above returns are as on March 31, 2026.
- The performance provided is for Direct Plan - Growth Option.
Fund Managers
Vivek Sharma
Extensive experience within the Indian financial markets, particularly in equity research.
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Utsav Mehta
Extensive experience in Indian equities across equity research and portfolio management.
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Vinay Paharia
Industry veteran with over two decades of equity research and fund management experience.
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Puneet Pal
He has more than two decades of experience in the debt markets within the mutual fund space.
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Fund Details
Investment Objective
The primary objective of the Scheme is to achieve long-term capital appreciation by predominantly investing in equity & equity related instruments of mid cap companies. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee/indicate any returns.
Fund Type
An open ended equity scheme predominantly investing in mid cap stocks
Investment Strategy
The fund predominantly invests in midcap stocks in accordance with the investment objective and asset allocation. Fund Manager will select equity securities on a top-down and bottom–up, stock–by–stock basis, with consideration given to price–to–earnings, price–to–book, and price–to–sales ratios, as well as growth, margins, asset returns, and cash flows, amongst others.
Stocks are selected on the basis of, amongst others, the historical and current financial condition of the company, potential value creation/unlocking of value and its impact on earnings growth, capital structure, business prospects, policy environment, strength of management, responsiveness to business conditions, product profile, brand equity, market share, competitive edge, research, technological know–how and transparency in corporate governance.
About PGIM India Midcap Fund
Mid Cap firms are those companies that are ranked in the middle - above small caps and below Large Caps, in terms of market capitalisation. Mid Cap Funds invest in the universe of companies that are ranked 101st to 250th in market capitalisation.
If you are looking for wealth creation, Mid Cap Funds can be a part of your portfolio as well-run companies in the mid cap space have the potential to be in the league of large caps in the long run.
The percentage of allocation to Mid Cap Funds should ideally depend on your risk appetite, goals and time horizon. Mid cap firms are typically not as risky as small cap stocks. This means they witness relatively lower downside volatility as compared to small caps during an economic downturn. However, as compared to large caps, mid caps are more volatile.
Frequently Asked Questions
What is a Mid Cap Fund and how does it work?
A Mid Cap Fund invests primarily in mid-sized companies (ranked 101–250 by market capitalisation) that have the potential for faster growth compared to large-cap companies.
Who should invest in Mid Cap Funds?
Mid cap funds are suitable for investors with a high-risk appetite, a long-term investment horizon, and the ability to stay invested during market volatility.
What is the ideal investment horizon for Mid Cap Funds?
A minimum investment horizon of 7–10 years is recommended, as mid cap stocks tend to be more volatile in the short term but can deliver strong returns over longer periods.
Are Mid Cap Funds riskier than Large Cap Funds?
Yes, mid cap funds carry higher risk and volatility than large cap funds, but they also offer higher growth potential over the long term. Large cap firms are established with good market presence, proven business models and steady cash flows.
On the other hand, mid cap companies may be still in their growth phase. These businesses may face higher competitive pressure, and greater sensitivity to market cycles. Thus, shares of mid cap firms may fluctuate more during adverse economic cycles.
That said, both large and mid-cap stocks are not completely immune to volatility. Despite the higher risk, mid‑cap funds may often outperform large‑caps over longer time horizons because growing companies can scale faster and capture new opportunities more aggressively. However, this also means that mid‑caps may fall harder during downturns. Investors should have a balanced exposure towards large and mid-cap stocks as per their risk appetite and investment time horizon.
Is SIP a better option than lump sum for Mid Cap Funds?
SIPs are generally preferred for mid cap funds as they help average market volatility, especially during volatile or overheated market phases. Investing through SIP helps you accumulate more units when markets fall. You can decide to allocate lumpsum or SIP as per your cash flows. When market valuations are high, it is advisable to stagger your investments in an Equity Fund
When does lump sum investment make sense in Mid Cap Funds?
Lump sum investments may be considered during market corrections or when valuations are relatively attractive. It may make sense to invest a lump sum when your investment horizon is comfortably long, typically seven to ten years or more. You may also invest lump‑sum when you are rebalancing your portfolio. If your current allocation is underweight mid‑caps and you have the capacity to handle volatility, deploying a lump sum can bring your portfolio back to your desired asset allocation.
How do Mid Cap Funds perform during market corrections?
Mid‑cap funds tend to face higher volatility during market corrections compared to large‑cap funds. Mid‑cap stocks usually react more noticeably to shifts in economic conditions, valuation pressures and changes in investor sentiment.
Mid‑cap funds may experience more pronounced short‑term declines during market corrections, their long‑term performance depend on multiple factors and should be evaluated in the context of your risk tolerance, time horizon and life goals. Past trends should not be interpreted as future performance. You may assess your mid‑cap exposure as part of a well‑diversified portfolio by consulting a trusted financial advisor.
How are Mid Cap Funds taxed in India?
Mid cap funds are taxed as equity mutual funds:
- Short-term capital gains (holding period < 12 months): 20%
- Long-term capital gains (holding period > 12 months): 12.5% on gains above ₹1.25 lakh(capital gains).
What is PGIM India Midcap Fund?
PGIM India Midcap Fund is an open-ended equity scheme that primarily invests in mid cap companies (minimum of 65% in mid-caps) with the objective of generating long-term capital appreciation. It is meant for your core portfolio to meet your long-term goals.
Why consider PGIM India Mid Cap Fund?
The investment philosophy of PGIM India Mid Cap Fund is built on core principles: we believe that high quality businesses with strong long term growth prospects may tend to deliver superior relative performance over time, and that stock prices ultimately gravitate toward their fair intrinsic value. The fund aims to honour the fund mandate in both letter and spirit, ensuring that the approach remains disciplined and true to purpose. Additionally, the fund follows a process driven framework to manage risk through thoughtful diversification, maintaining high active share while staying aligned with the mandate, and keeping portfolio turnover low to support long term value creation.
What are the benefits of investing in PGIM India Midcap Fund?
- Offers greater growth potential as compared to Large Cap funds.
- Less volatile as compared to Small Cap funds.
- Tends to recover quickly when the economy revives.
What makes PGIM India Mid Cap Fund different from other mid cap funds?
The scheme follows a defined, process‑driven investment framework focused on investing in high quality and growth companies. PGIM India Midcap Fund follows the broad regulatory mandate applicable to all mid‑cap funds, which is to invest a minimum of 65% in mid cap companies and maximum 35% in debt. What distinguishes it is the way we position the scheme in terms of investment philosophy, portfolio construction and risk management approach.
How does PGIM India Mid Cap Fund manage the risks associated with equity markets?
Risk is managed through diversification across sectors, stock-level research, and continuous portfolio monitoring to avoid excessive concentration. The fund incorporates adequate safeguards for controlling risks in the portfolio construction process. The risk control process involves reducing risks through portfolio diversification, taking care however not to dilute returns in the process. The fund aims to minimise stock specific risk by investing only in those companies that have been analysed by the investment team at the AMC. PGIM India Mutual Fund follows a quality–growth investing philosophy, grounded in measurable factors such as above average earnings growth and higher than average Return on Equity (ROE). The philosophy integrates rigorous stock selection, risk managed portfolio construction, and a strong emphasis on business quality and valuation discipline.
What should be ideal time horizon while investing in PGIM India Midcap Fund?
At least five years and more.
How to invest in PGIM India Midcap Fund?
You can invest through multiple options:
- Website: You can invest through PGIM India Website by creating your profile and submitting identity details, and bank account information, and becoming KYC compliant.
- RIA/MFD: You can also invest through a Registered Investment Adviser or Mutual Fund distributor registered with SEBI/AMFI.
- Industry Portal: You can also invest through MF Utility or MF Central portals.
- Do consult your financial advisor before investing to understand if the fund fits into your risk profile.
Can I invest through SIP and lumpsum mode in PGIM India Midcap Fund?
- You can invest in lumpsum as well as through the SIP mode.
- The minimum application amount is Rs 5,000 for a lump sum and Rs 1,000 for additional investment.
- You need to commit at least 5 instalments (monthly or quarterly) of Rs 1,000 per instalment through SIP.
Should you invest lumpsum or through SIP in PGIM India Midcap Fund?
Investing through SIP helps you accumulate more units when markets fall. You can decide to allocate lumpsum or SIP as per your cash flows. When market valuations are high, it is advisable to stagger your investments in an Equity Fund.
What frequency/dates are allowed for Systematic Investment Plan (SIP), Systematic Transfer Plan (STP) and Systematic Withdrawal Plan (SWP) transactions in PGIM India Midcap Fund?
- SIP: Any date of the month or quarter, as applicable.
- STP: Daily, Weekly, Monthly and Quarterly. 5 instalments of Rs.1,000/- and in multiples of Rs.1/-.
- SWP: Monthly, Quarterly and Annually.
How is PGIM India Midcap Fund Taxed?
Investments redeemed on or after 23rd July 2024.
- Holding Period (To qualify for LTCG): 12 months
- Short Term Capital Gains Tax: 20%
- Long Term Capital Gains Tax: 12.5% (with an exemption up to INR 1.25 lakhs)
Plus surcharge and cess as may be applicable on the above rates.
Fund Documents
KIM
SID
Scheme Summary Document
Product Literature
Fund Dashboard
Riskometer
This product is suitable for investors who are seeking*:
- Capital appreciation over long run.
- To achieve long term capital appreciation by predominantly investing in equity and equity related instruments of mid cap companies.
- Degree of risk – VERY HIGH.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Scheme Riskometer
The risk of the scheme is Very High
Benchmark Riskometer
The risk of the Benchmark is
Very High
AMFI Tier - 1 Benchmark - Nifty Midcap 150 - TRI
Very High
AMFI Tier - 1 Benchmark - Nifty Midcap 150 - TRI
The risk of the Benchmark is Very High
AMFI Tier - 1 Benchmark - Nifty Midcap 150 - TRI
AMFI Tier - 1 Benchmark - Nifty Midcap 150 - TRI
Potential Risk Class
No records available
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