Best Mid-Cap Funds

What are Mid-Cap Funds?

Mid-cap mutual funds are equity schemes that primarily invest in companies with a "medium" market valuation. They are ideal for investors seeking 'alpha'—leveraging the fast growth of mid-sized firms. While some Unit Linked Insurance Plans (ULIPs) offer dedicated mid-cap fund options, this category is generally defined by a higher risk-return profile than large-cap funds. 

• High-Growth Potential: These funds provide exposure to agile companies with the potential to deliver market-beating "alpha" during economic expansion phases.
• Balanced Risk Profile: While more volatile than large-caps, mid-caps offer significantly more operational stability and resilience than small-cap stocks.
• SEBI-Mandated Focus: To maintain their category label, these funds must invest at least 65% of their total assets specifically in mid-cap equities.
• Wealth Creation: Historically, the mid-cap segment has been a primary engine for long-term wealth creation in India, outperforming large-cap indices over 7–10 year cycles.

Best Mid-Cap Mutual Funds in India

Here is a list of the top mid-cap funds in the financial market in India:

Disclaimer: ≈ Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans comprises insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India, refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in.

1. WhiteOak Capital Mid Cap Fund Regular - Growth

   WhiteOak Capital Mid Cap Fund (Regular - Growth) is an equity-oriented mutual fund that focuses on mid-sized companies. Since its launch in late 2022, it has quickly gained traction by leveraging the "Opco-Finco" investment framework.

   Parameters	Details
   Fund Name	WhiteOak Capital Mid Cap Fund Regular - Growth
   NAV	₹ 19.33 (as on 30th January, 2026)
   AUM	₹3,500.44 Crs
   Expense Ratio	1.86%
   Return 5 Years	N/A
   Minimum Investment	SIP ₹1000 & Lumpsum ₹500
   Risk Level	Principal at very high risk
   Launch Date	7th September, 2022
   Asset Allocation	Equity: 97.13%, Debt: 10.93%, Others: -10.12%
   Top Sectors	Consumer Discretionary Industrials Consumer Staples Diversified Energy & Utilities Financial Healthcare Materials Real Estate Technology
   Top Holdings	Others CBLO Persistent Systems Ltd Bharti Hexacom Ltd. Muthoot Finance Ltd Max Financial Services Ltd Phoenix Mills Ltd Fortis Healthcare Ltd The Federal Bank Ltd Coforge Ltd PB Fintech Ltd
   Fund Managers	Ashish Agrawal Dheeresh Pathak Piyush Baranwal Ramesh Mantri Trupti Agrawal
   Fund Type	Open-ended

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2. Motilal Oswal Midcap Fund Regular - Growth

   The Motilal Oswal Midcap Fund is an equity scheme that focuses on high-conviction "quality" stocks within the mid-cap space. It is known for its aggressive, concentrated investment style, often holding a limited number of stocks.

   Parameters	Details
   Fund Name	Motilal Oswal Midcap Fund Regular-Growth
   NAV	₹ 92.02 (as on 30th January, 2026)
   AUM	₹33,608.53 Crs
   Expense Ratio	1.55%
   Return 5 Years	33.24%
   Minimum Investment	SIP ₹1000 & Lumpsum ₹500
   Risk Level	Principal at very high risk
   Launch Date	24th February, 2014
   Asset Allocation	Equity: 81.6%, Debt: 14.25%, Others: 4.15%
   Top Sectors	Real Estate Materials Consumer Discretionary Industrials Financial Healthcare Technology
   Top Holdings	Others CBLO Reverse Repo/CBLO Dixon Technologies (India) Ltd Persistent Systems Ltd Coforge Ltd Zomato Ltd Kalyan Jewellers India Ltd One 97 Communications Ltd Trent Ltd Polycab India Ltd
   Fund Managers	Ajay Khandelwal Niket Shah Rakesh Shetty Sunil Sawant
   Fund Type	Open-ended

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3. HDFC Mid Cap Fund Regular - Growth

   The HDFC Mid-Cap Opportunities Fund is one of India's largest and most established schemes in the mid-cap category. Known for its massive Asset Under Management (AUM) and resilient performance across various market cycles.

   Parameters	Details
   Fund Name	HDFC Mid Cap Fund Regular-Growth
   NAV	₹ 200.39 (as on 30th January, 2026)
   AUM	₹83,847.39 Crs
   Expense Ratio	1.34%
   Return 5 Years	29.27%
   Minimum Investment	SIP ₹1000 & Lumpsum ₹100
   Risk Level	Principal at very high risk
   Launch Date	25th June, 2007
   Asset Allocation	Equity: 92.88%, Others: 7.12%
   Top Sectors	Consumer Discretionary Industrials Consumer Staples Diversified Energy & Utilities Financial Healthcare Materials Technology
   Top Holdings	Repo Max Financial Services Ltd AU Small Finance Bank Ltd Balkrishna Industries Ltd The Federal Bank Ltd Indian Bank Coforge Ltd Fortis Healthcare Ltd Glenmark Pharmaceuticals Ltd Ipca Laboratories Ltd
   Fund Managers	Chirag Setalvad Dhruv Muchhal
   Fund Type	Open-ended

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4. Edelweiss Mid Cap Fund Regular - Growth

   The Edelweiss Mid Cap Fund is a growth-oriented equity scheme that has recently emerged as a top-quartile performer in the mid-cap category. It distinguishes itself through its proprietary F.A.I.R. Investment Framework.

   Parameters	Details
   Fund Name	Edelweiss Mid Cap Fund Regular-Growth
   NAV	₹ 102.05 (as on 30th January, 2026)
   AUM	₹11,026.93 Crs
   Expense Ratio	1.68%
   Return 5 Years	29.1%
   Minimum Investment	SIP ₹1000 & Lumpsum ₹100
   Risk Level	Principal at very high risk
   Launch Date	26th December, 2007
   Asset Allocation	Equity: 97.79%, Debt: 2.3%, Others: -0.09%
   Top Sectors	Consumer Discretionary Industrials Consumer Staples Energy & Utilities Financial Healthcare Materials Real Estate Technology
   Top Holdings	Others CBLO Coforge Ltd Max Healthcare Institute Ltd Persistent Systems Ltd Marico Ltd PB Fintech Ltd BSE Ltd Fortis Healthcare Ltd Solar Industries India Ltd Indian Bank
   Fund Managers	Raj Koradia Trideep Bhattacharya Dhruv Bhatia
   Fund Type	Open-ended

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5. Nippon India Growth Mid Cap Fund Direct - Growth

   The Nippon India Growth Fund is one of the oldest and most respected players in the mid-cap space, having been launched in 1995. The Direct - Growth variant is specifically designed for investors who want a lower expense ratio.

   Parameters	Details
   Fund Name	Nippon India Growth Mid Cap Fund Direct- Growth
   NAV	₹ 4,556.46 (as on 30th January, 2026)
   AUM	₹38,581.28 Crs
   Expense Ratio	0.71%
   Return 5 Years	30.16%
   Minimum Investment	SIP ₹1000 & Lumpsum ₹100
   Risk Level	Principal at very high risk
   Launch Date	NA
   Asset Allocation	Equity: 97.74%, Debt: 0.01%, Others: 2.25%
   Top Sectors	Consumer Discretionary Industrials Consumer Staples Diversified Energy & Utilities Financial Healthcare Materials Real Estate Technology
   Top Holdings	BSE Ltd Fortis Healthcare Ltd Repo Cholamandalam Financial Holdings Ltd The Federal Bank Ltd AU Small Finance Bank Ltd Persistent Systems Ltd Voltas Ltd Ashok Leyland Ltd Max Financial Services Ltd
   Fund Managers	Rupesh Patel Kinjal Desai
   Fund Type	Open-ended

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6. Sundaram Mid Cap Fund Regular - Growth

   The Sundaram Mid Cap Fund is a veteran in the Indian mutual fund industry, having been launched in July 2002. It is recognised for its "mid-cap specialist" approach, historically focusing on identifying companies early in their growth cycle.

   Parameters	Details
   Fund Name	Sundaram Mid Cap Fund Regular-Growth
   NAV	₹ 1,392.69 (as on 30th January, 2026)
   AUM	₹12,595.54 Crs
   Expense Ratio	1.74%
   Return 5 Years	26.66%
   Minimum Investment	SIP ₹1000 & Lumpsum ₹100
   Risk Level	Principal at very high risk
   Launch Date	30th July, 2002
   Asset Allocation	Equity: 95.46%, Debt: 0.42%, Others: 4.13%
   Top Sectors	Financial Healthcare Materials Real Estate Technology Consumer Discretionary Industrials Consumer Staples Energy & Utilities
   Top Holdings	Repo Cummins India Ltd Coromandel International Ltd Mahindra & Mahindra Financial Services Ltd Fortis Healthcare Ltd Kalyan Jewellers India Ltd GE T&D India Ltd IDFC First Bank Ltd The Federal Bank Ltd Lupin Ltd
   Fund Managers	Bharath S. Ratish Varier
   Fund Type	Open-ended

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7. Kotak Midcap Fund Regular - Growth

   The Kotak Midcap Fund is one of the largest and most consistent schemes in its category. Managed by Atul Bhole, the fund follows a bottom-up stock selection strategy through its "BMV" framework.

   Parameters	Details
   Fund Name	Kotak Midcap Fund Regular-Growth
   NAV	₹ 131.98 (as on 30th January, 2026)
   AUM	₹57,375.20 Crs
   Expense Ratio	1.39%
   Return 5 Years	27.51%
   Minimum Investment	SIP ₹1000 & Lumpsum ₹100
   Risk Level	Principal at very high risk
   Launch Date	30th March, 2007
   Asset Allocation	Equity: 99%, Debt: 0.21%, Others: 0.79%
   Top Sectors	Consumer Discretionary Industrials Consumer Staples Diversified Energy & Utilities Financial Healthcare Materials Real Estate Technology
   Top Holdings	GE T&D India Ltd Fortis Healthcare Ltd Mphasis Ltd Dixon Technologies (India) Ltd Ipca Laboratories Ltd Vishal Mega Mart Ltd. Swiggy Ltd. JK Cement Ltd Coromandel International Ltd Indian Bank
   Fund Managers	NA
   Fund Type	Open-ended

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8. HSBC Midcap Fund Direct - Growth

   The HSBC Midcap Fund is an equity scheme in the mid-cap category, having been launched in August 2004. The Direct - Growth variant is designed for investors who want to minimise costs by investing directly with the AMC, effectively bypassing distributor commissions.

   Parameters	Details
   Fund Name	HSBC Midcap Fund Direct-Growth
   NAV	₹ 447.82 (as on 30th January, 2026)
   AUM	₹11,845.25 Crs
   Expense Ratio	0.65%
   Return 5 Years	25.39%
   Minimum Investment	SIP ₹1000 & Lumpsum ₹5,000
   Risk Level	Principal at very high risk
   Launch Date	1st January, 2013
   Asset Allocation	Equity: 98.61%, Others: 1.41%
   Top Sectors	Consumer Discretionary Industrials Consumer Staples Diversified Energy & Utilities Financial Healthcare Technology Materials Real Estate
   Top Holdings	FSN E-Commerce Ventures Ltd Dixon Technologies (India) Ltd Zomato Ltd Max Healthcare Institute Ltd Ashok Leyland Ltd GE T&D India Ltd PB Fintech Ltd Jubilant FoodWorks Ltd Multi Commodity Exchange Of India Ltd Nippon Life India Asset Management Ltd
   Fund Managers	Cheenu Gupta Sonal Gupta
   Fund Type	Open-ended

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9. Tata Mid Cap Fund Regular - Growth

   The Tata Mid Cap Growth Fund is one of India's oldest equity schemes, launched in July 1994. It targets "future leaders" by investing in mid-sized companies that have demonstrated strong business moats and the potential for rapid scaling.

   Parameters	Details
   Fund Name	Tata Mid Cap Fund Regular-Growth
   NAV	₹ 435.47 (as on 30th January, 2026)
   AUM	₹4,984.23 Crs
   Expense Ratio	1.85%
   Return 5 Years	23.87%
   Minimum Investment	SIP ₹1000 & Lumpsum ₹5,000
   Risk Level	Principal at very high risk
   Launch Date	1st July, 1994
   Asset Allocation	Equity: 95.88%, Others: 4.12%
   Top Sectors	Technology Financial Healthcare Materials Real Estate Consumer Discretionary Industrials Consumer Staples Diversified Energy & Utilities
   Top Holdings	Repo UPL Ltd Max Financial Services Ltd Cummins India Ltd Indian Bank AU Small Finance Bank Ltd Alkem Laboratories Ltd Cash/Net Current Assets The Federal Bank Ltd UNO Minda Ltd
   Fund Managers	NA
   Fund Type	Open-ended

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10. Mirae Asset Midcap Fund Regular - Growth

    The Mirae Asset Midcap Fund is an actively managed equity scheme designed to capture the high-growth potential of mid-sized companies. It has focused on identifying "future large-caps"—businesses with robust models and sustainable competitive advantages.

    Parameters	Details
    Fund Name	Mirae Asset Midcap Fund Regular - Growth
    NAV	₹ 36.39 (as on 30th January, 2026)
    AUM	₹17,030.61 Crs
    Expense Ratio	1.66%
    Return 5 Years	26.42%
    Minimum Investment	SIP ₹1000 & Lumpsum ₹5,000
    Risk Level	Principal at very high risk
    Launch Date	29th July, 2019
    Asset Allocation	Equity: 97.44%, Debt: 0.22%, Others: 2.34%
    Top Sectors	Consumer Discretionary Industrials Consumer Staples Energy & Utilities Financial Healthcare Materials Real Estate Technology
    Top Holdings	The Federal Bank Ltd Lupin Ltd Bharat Forge Ltd Cummins India Ltd Hero Motocorp Ltd Delhivery Ltd L&T Finance Holdings Ltd Tata Communications Ltd Indusind Bank Ltd Swiggy Ltd.
    Fund Managers	NA
    Fund Type	Open-ended

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Summing up

Mid-cap funds are essential investment options for long-term wealth creation, targeting high-growth companies. Per SEBI guidelines, these funds must invest at least 65% of their assets in mid-cap stocks. This category features well-established performers and high-conviction players like HDFC Mid-Cap Opportunities Fund, Nippon India Growth Fund, Sundaram Mid Cap Fund, Motilal Oswal Midcap Fund, WhiteOak Capital Mid Cap Fund, and Edelweiss Mid Cap Fund. Beyond their high-growth potential, these funds are characterised by professional active management, a risk profile that is more stable than small-caps yet more rewarding than large-caps.