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Performance review: PGIM India Mid-Cap Opportunities Fund

Henil Shah
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Performance review: PGIM India Mid-Cap Opportunities Fund

PGIM India Mutual Fund, erstwhile DHFL Pramerica Mutual Fund had launched its mid-cap offering-PGIM India Mid-Cap Opportunities Fund in December 2013.

 

Since its launch, it is underperforming S&P BSE 150 MidCap Index TRI. However, post mutual fund rationalisation, we have seen a turnaround in the performance of this fund as the fund has never looked back. In fact, in recent times, this is one of the best performing mid-cap funds. Having said, in this article, we would dissect the performance of the PGIM Mid-Cap Opportunities Fund.

 

Source: Value Research

 

Source: Value Research

 

As you can see from the above graphs, before rationalisation, this fund was clearly underperforming S&P BSE 150 MidCap TRI. However, post the mutual fund rationalisation, it started performing in-line with the index. Moreover, in March 2020, it fell comparatively less as compared to the index, and since then, it is outperforming the index by a good margin. This can be seen as a turnaround.

 

The investment objective of the fund is to seek long-term capital appreciation by predominantly investing in equity and equity-related instruments of mid-cap companies. Further, it is quite ‘true to its label’ as 81.38 per cent of the assets are dedicated towards mid-caps, whereas 16.06 per cent is dedicated towards small-caps and a mere 2.56 per cent towards large-caps.

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