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<ul><li>In October 2017, the Securities and Exchange Board of India enforced rules to make mutual-fund categories more uniform and standardised. For example, <keyword id="136469" type="PERSON" weightage="20" keywordseo="large-cap">large-cap</keyword> stock schemes had to comprise at least 80% large-cap <keyword id="6354298" type="DEFINITION" weightage="20" keywordseo="Stocks">stocks</keyword>. </li><li>The rules were meant to declutter the mutual fund industry and improve investor choice, but instead they diverted inflows from <keyword id="419945" type="PERSON" weightage="20" keywordseo="small-cap">small-cap</keyword> companies by reducing the exposure of large-cap schemes to smaller stocks. </li><li>According to data from Prabhudas Lilladher, small-cap stock schemes recorded a net outflow of ₹220 million between January and June 2018, compared to a net inflow of ₹56.5 billion a year ago. </li></ul> When the Securities and Exchange Board of India (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) order the reclassification and rationalisation of open-ended mutual fund schemes <a href="https://www.sebi.gov.in/legal/circulars/oct-2017/categorization-and-rationalization-of-mutual-fund-schemes_36199.html">in October 2017</a>, its intentions were clear. It wanted to declutter the mutual fund industry by implementing procedures for standardisation and allowing investors greater ease in choosing and comparing schemes. Among the SEBI’s many rulings, one stood out. It made the categorisation of schemes into large-cap, <keyword id="71797" type="PERSON" weightage="20" keywordseo="Mid-cap">mid-cap</keyword> and small-cap stock schemes mandatory. This created a specific category for each scheme, which limited the exposure that each scheme had to other stock types. For example, large-cap stock schemes, which involve the shares of the top 100 companies by market capitalisation, had to be comprised of at least 80% large-cap stocks. Midcap schemes, which comprise the next 150 companies by market cap, had to be overwhelmingly weighted with stocks of mid-cap companies and so on. Fast forward to mid-2018, and the rules have had an unintended effect. They have led to a significant reduction in inflows to small-cap mutual fund schemes, comprising the shares of all other companies outside the top 250. Hence, the rules have shifted the power balance in favour of large companies. According to data from Prabhudas Lilladher, a brokerage house, small-cap stock schemes recorded a net outflow of ₹220 million between January and June 2018, compared to a net inflow of ₹56.5 billion in the same period of 2017. Meanwhile, large-cap and mid-cap schemes recorded a net inflow of ₹219 billion and ₹145 billion in the first six months of 2018. Why the focus on large and mid-caps? It all stems from an investor aversion to risk. 2018 represents a markedly different year from 2017, which was characterised by a booming stock market, an influx of cheap money and high investor optimism. However, this year, domestic <keyword id="31671" type="CITY" weightage="20" keywordseo="markets">markets</keyword> have suffered amid concerns of a trade war between the US and China as well as rising oil prices, a falling rupee and widening fiscal deficit. Hence, investors have sought to play it safe by redirecting their investments into larger companies. Small-cap stocks are considered to be more volatile and risky in these kinds of market conditions. The general rule of thumb is that larger companies are safer and better-capitalised to manage risk than smaller ones. Small-cap stocks might come with higher returns but that’s offset by higher risk. And yes, India’s markets have <a href="https://www.businessinsider.in/heres-what-led-to-the-indian-stock-markets-record-highs/articleshow/65161389.cms">had a bull run as of late</a>, but this has not extended to small-cap stocks. The Bombay Stock Exchange’s Small-Cap Index is down nearly 12% since the start of the year. If global market conditions pick up, and mutual fund houses start promoting small-cap schemes, there could be a resurgence in inflows to small-cap companies. The SEBI should keep an eye on the situation, and if necessary, reduce weightage and product restrictions for mutual fund schemes in the interest of diversification.

India’s securities regulator has hurt smaller companies with its recently-implemented mutual fund rules

The large and mid cap funds of <keyword id="1707555" type="General" weightage="100" keywordseo="lic-mutual-funds" source="Orion">LIC Mutual Funds</keyword> has offered 12.49 per cent compound annual growth return since its inception in February 2015. As on July 31, 2022, the compounded annual growth returns performance of <keyword id="45316" type="General" weightage="80" keywordseo="lic-mf" source="Orion">LIC MF</keyword> large and mid cap fund under regular (G) option, for different periods -- 5 years, 3 years and 1 year -- stood at 11.44 per cent, 18.83 per cent and 9.16 per cent, respectively. The funds have Rs 1.17 lakh crore of net assets under management as on July 31, 2022. While LIC MF large and mid cap funds AUM stood at Rs 1,831.26 crore. Banks (15.62 per cent), <keyword id="14748877" type="General" weightage="20" keywordseo="it-software" source="Orion">IT &amp; Software</keyword> (9.67 per cent), <keyword id="14748878" type="General" weightage="20" keywordseo="chemicals-petrochemicals" source="Orion">Chemicals &amp; Petrochemicals</keyword> (8.81 per cent), Consumer Durables (8.69 per cent), and Industrial products (7.38 per cent) are among the top 5 sectors in the fund house's Large and Mid cap fund category. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tencent-fires-5-5k-workers-as-sales-down-for-1st-time-since-going-public/articleshow/93634989.cms">Tencent fires 5.5K workers as sales down for 1st time since going public</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/gig-jobs-are-popular-with-pocket-money-seeking-teens-for-primary-earners-its-a-burden/articleshow/93632374.cms">Gig jobs are popular with pocket-money seeking teens, for primary earners it’s a burden</a>

LIC Mutual Fund's large & mid cap funds offer 12.49% CAGR since inception

New Delhi, Mar 22 () Equity-oriented mutual fund schemes delivered a negative return of about 25 per cent to investors over the last one month as the broader market witnessed significant downtrend amid coronavirus-triggered recession fears. The 44-player mutual fund industry is not immune to the economic blowback of COVID-19, and going ahead, small and mid-cap equity schemes will continue to remain under pressure in the short to medium term on account of volatility in the markets, said Krishna Karwa, Senior Research Analyst, at iFAST Financial India.According to data compiled by Morningstar India, all the equity scheme categories -- equity linked saving scheme (ELSS), mid-cap, large &amp; mid-cap, large-cap, small-cap, mid-cap and multi-cap have given negative return in the range of 25-26 per cent between February 19 and March 18, 2020.Individually, large and mid-cap funds have given a negative return of 26.63 per cent followed by large-cap (26.58 per cent), ELSS (26.47 per cent), multi-cap (26.45 per cent), small-cap (26.32 per cent) and mid-cap (24.84 per cent).Notably, all the funds fell less than their respective benchmark indices during the bear market.The benchmark Sensex crashed about 30 per cent during the same period, falling from 41,000 level to 29,000 level, following the coronavirus pandemic, decline in international crude oil price and the Yes Bank fiasco."We have seen such falls in the market multiple times before, while pessimism may remain for sometime given the uncertain situation with the spread of the coronavirus. But as we have seen in the past over the long term markets will recover," Morningstar India Director- Manager Research Kaustubh Belapurkar said.He, further, said that investors should continue to focus on asset allocation and continue with their investment and systematic investment plans (SIPs). If an investor was underallocated to equities as per his risk profile, it would be a good time to start increasing the equity exposure at current low valuations. He advised investors to keep at least 7-10 year investment horizon in mind with a volatile asset class like equities.Echoing similar views, iFAST Financial India's Karwa said that corrections have made the valuations pretty attractive, and investors should consider going long on small and mid-cap funds. "Despite witnessing a marked dip in net asset value (NAV) in recent times, large-cap and blue chip funds should be able to bounce back at a faster pace. Quality businesses and industry leaders with superior fundamentals will always command a premium multiple over the rest, and would be the first ones to see investment inflows on major dips," he added.With regard to the debt schemes, Karwa expects stress in the credit markets to persist. From a defensive standpoint, an investor should focus more on short duration debt funds (typically up to one year) with good liquidity. Those with a higher risk appetite can keep long duration credit risk funds on their radar as well, he added."The current market downturn has led to both concerns as well as a sense of potential wealth creation opportunity due to this increased awareness," said Satyen Kothari, Founder &amp; CEO, Cube Wealth. SP DRR

Coronavirus: Equity mutual funds give 25 pc negative returns to investors

New Delhi, Feb 16 () Investors poured nearly Rs 12,000 crore into equity oriented mutual funds in the three months ended December 2019, a sharp slump of 50 per cent from the preceding quarter, on worries over stock valuations as well as stuttering economic growth. Notably, all categories of equity funds, including large-cap, mid-cap, small-cap and dividend yield funds, saw a drop in flows compared to the preceding quarter. According to a Morningstar report, total flows in equity mutual funds stood at Rs 11,837 crore for the quarter ended December as against Rs 23,874 crore in the September quarter. During April-June quarter, inflows in such schemes stood at Rs 17,500 crore. The asset base of equity funds, on the other hand, rose by 6 per cent to Rs 7.7 lakh crore for the quarter ended December. "Although the flows were positive, the sharp fall in equity flows could be attributed to concerns around over-valuations of some of the underlying stocks held by funds, polarised performances of some of the heavy-weighted stocks in the indexes, which camouflages the performance of the other under-performing stocks, and concerns regarding the steady fall in the GDP growth of the country that have been witnessed in the past few months," the report noted. Over 30 per cent of the net equity flows have been directed toward the large-cap category, as this segment has been the most resilient over the past year and delivered good returns. However, inflows in large-cap funds plunged by 42 per cent to Rs 3,500 crore for the period under review, from Rs 6,000 crore seen in July-September. Until this quarter, large-cap equities had continued to see steady rise in flows as investors continued to align their investments to these funds relative to mid-cap and small-cap counterparts, which saw significant corrections in some of the underlying stocks. Mid-cap funds saw infusion to the tune of Rs 2,688 crore in the period under review, from Rs 3,738 crore in the preceding three months, translating into a decline of 28 per cent. The flows in the small-cap category halved to Rs 1,360 crore, from Rs 3,038 crore in the September quarter. Overall, mutual fund flows have been growing consecutively for the past four quarters. Such funds witnessed a net infusion of Rs 1,28,463 crore in the third quarter of the ongoing financial year 2019-20, compared to Rs 46,578 crore in the preceding three months. SP ABM

Equity MF inflows drop 50 pc to Rs 12k-cr in Dec qtr on valuation, growth concerns

Hello everyone! Welcome to this weekly roundup of <keyword id="35175" type="ORGANIZATION" weightage="60" keywordseo="investing">Investing</keyword> stories from deputy editor Joe Ciolli. Please <a href="http://newsletter.businessinsider.com/join/4np/insider-investing" target="_blank" rel="noopener">subscribe here</a> to get this newsletter in your inbox every week.Hello and welcome to Insider Investing. I'm Joe Ciolli, and I'm here to guide you through the current market and investing landscape. The newsletter will be taking a week off and returning on April 11. Here's what's on the docket:<ul><li>Chamath Palihapitiya's ongoing SPAC frenzy is being targeted by hedge funds, who have made $40 million this year betting against him. We provide <a href="https://www.businessinsider.com/chamath-palihapitiya-spacs-hedge-funds-short-bets-data-details-explained-2021-3" target="_blank" rel="noopener">a detailed look at the short wagers being made against Chamath's SPACs</a>.</li><li>Amy Zhang manages a fund that's generated a 138% return over the past year. She explains <a href="https://www.businessinsider.com/mid-cap-stock-picks-surge-amid-economic-reopening-fund-manager-2021-3" target="_blank" rel="noopener">why the mid-cap equity space is teeming with opportunity</a>, and shares <a href="https://www.businessinsider.com/mid-cap-stock-picks-surge-amid-economic-reopening-fund-manager-2021-3" target="_blank" rel="noopener">3 of her top stock picks</a>.</li><li>David Keller, the chief market strategist at Stockcharts.com and technical-analysis expert, shared with us <a href="https://www.businessinsider.com/market-predictions-charts-forecasting-stock-picks-bonds-yields-gold-price-2021-3" target="_blank" rel="noopener">the 4 charts to watch for crucial signs of what's to come</a> in <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>.</li></ul><a href="http://newsletter.businessinsider.com/join/4np/insider-investing" target="_blank" rel="noopener">If you aren't yet a subscriber to Insider Investing, you can sign up here.</a>Have thoughts on the newsletter? Just want to talk markets? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com" target="_blank" rel="noopener">jciolli@insider.com</a> or on Twitter <a href="https://twitter.com/JoeCiolli" target="_blank" rel="noopener">@JoeCiolli</a>.<h2>Check out our new investing e-book:</h2><h3><a href="https://www.businessinsider.com/guide-picking-long-term-stock-market-winners-e-book" target="_blank" rel="noopener">The definitive guide to picking long-term stock-market winners, according to America's top-ranked fund managers.</a></h3>Investing editor Akin Oyedele showcases eight star fund managers, their performance highlights, and their five biggest stock holdings.<h2><a href="https://www.businessinsider.com/chamath-palihapitiya-spacs-hedge-funds-short-bets-data-details-explained-2021-3" target="_blank" rel="noopener">Hedge funds vs. Chamath</a></h2><div type="image" title="GettyImages 615649084" height="1587" width="3174" msid="81740997" hostid="261"></div>SPACs have been caught in a harsh sell-off along with growth <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> as bond yields rise. Billionaire Chamath Palihapitiya has been among those most affected, with <a href="https://www.businessinsider.com/chamath-palihapitiya-spacs-hedge-funds-short-bets-data-details-explained-2021-3" target="_blank" rel="noopener">short-sellers making $40 million betting against his SPACs</a> year-to-date. We break down <a href="https://www.businessinsider.com/chamath-palihapitiya-spacs-hedge-funds-short-bets-data-details-explained-2021-3" target="_blank" rel="noopener">the wagers being made against Chamath's three most high-profile SPACs</a>.Read the full story here:<h3><a href="https://www.businessinsider.com/chamath-palihapitiya-spacs-hedge-funds-short-bets-data-details-explained-2021-3" target="_blank" rel="noopener">Hedge funds are ramping up bets against Chamath Palihapitiya's SPACs and have already taken home $40 million this year. Here's a detailed look at the wagers they're making.</a></h3><h2><a href="https://www.businessinsider.com/mid-cap-stock-picks-surge-amid-economic-reopening-fund-manager-2021-3" target="_blank" rel="noopener">The case for overlooked mid-cap stocks</a></h2><a href="https://www.businessinsider.com/mid-cap-stock-picks-surge-amid-economic-reopening-fund-manager-2021-3" target="_blank" rel="noopener"><div type="image" title="Amy Zhang" height="1201" width="2404" msid="81740801" hostid="261"></div></a>Amy Zhang manages $11 billion across small- and mid-cap funds for Alger - one of which has generated a 138% return over the past year. She explains <a href="https://www.businessinsider.com/mid-cap-stock-picks-surge-amid-economic-reopening-fund-manager-2021-3" target="_blank" rel="noopener">why the mid-cap equity space is teeming with opportunity</a>, and shares <a href="https://www.businessinsider.com/mid-cap-stock-picks-surge-amid-economic-reopening-fund-manager-2021-3" target="_blank" rel="noopener">3 of her top stock picks</a>.Read the full story here:<h3><a href="https://www.businessinsider.com/mid-cap-stock-picks-surge-amid-economic-reopening-fund-manager-2021-3" target="_blank" rel="noopener">A fund manager who's returned 138% in the past year shares 3 mid-cap stocks poised to surge as the economic reopening accelerates - and breaks down why investors should consider this overlooked yet outperforming asset class</a></h3><h2><a href="https://www.businessinsider.com/market-predictions-charts-forecasting-stock-picks-bonds-yields-gold-price-2021-3" target="_blank" rel="noopener">4 charts for the future</a></h2><a href="https://www.businessinsider.com/market-predictions-charts-forecasting-stock-picks-bonds-yields-gold-price-2021-3" target="_blank" rel="noopener"><div type="image" title="A trader waits for news while working on the floor of the New York Stock Exchange following a halt in trading in New York, July 8, 2015. REUTERS/Lucas Jackson " height="400" width="800" msid="81740802" hostid="261"></div></a>David Keller is the chief market strategist at Stockcharts.com and an expert at technical analysis. We asked him <a href="https://www.businessinsider.com/market-predictions-charts-forecasting-stock-picks-bonds-yields-gold-price-2021-3" target="_blank" rel="noopener">what charts investors should be looking at now</a>, and what they're indicating assets might do going forward. He responded with <a href="https://www.businessinsider.com/market-predictions-charts-forecasting-stock-picks-bonds-yields-gold-price-2021-3" target="_blank" rel="noopener">four that he dissected in detail</a>.Read the full story here:<h3><a href="https://www.businessinsider.com/market-predictions-charts-forecasting-stock-picks-bonds-yields-gold-price-2021-3" target="_blank" rel="noopener">A chief market strategist shares 4 must-see charts that forecast the next big moves in stocks, bonds, and gold - and 6 trades set to surge on what happens next</a></h3><h2>Stock pick central</h2>Seeking experts who are willing to name names? Look no further:<ul><li><a href="https://www.businessinsider.com/stock-picks-to-buy-for-2021-fastest-sales-growth-goldman-2021-3" target="_blank" rel="noopener">Goldman Sachs says to buy these 33 stocks that are set to generate the market's most explosive sales growth in 2021 as the COVID-slammed economy reopens</a></li><li><a href="https://www.businessinsider.com/stock-picks-to-buy-pandemic-seismic-shifts-financials-btig-emanuel-2021-3" target="_blank" rel="noopener">Buy these 30 stocks that are best-placed to benefit from the pandemic's 'seismic shifts' and continue surging in its aftermath, BTIG says</a></li><li><a href="https://www.businessinsider.com/stocks-to-buy-mergers-acquisitions-targets-heats-up-morgan-stanley-2021-3" target="_blank" rel="noopener">MORGAN STANLEY: Buy these 10 stocks quickly that will roar higher as M&amp;A heats up - including one with a potential upside of 114%</a></li><li><a href="https://www.businessinsider.com/stock-picks-to-buy-fastest-dividend-growth-in-2021-gs-2021-3" target="_blank" rel="noopener">Buy these 49 stocks that are set to increase their dividend payouts to shareholders the most in 2021, Goldman Sachs says</a></li><li><a href="https://www.businessinsider.com/stocks-to-buy-stimulus-picks-consumer-retail-reopening-cowen-investing-2021-3" target="_blank" rel="noopener">Cowen says buy these 10 retail stocks before a colossal wave of consumer spending sends them skyrocketing - including one expected to surge 71%</a></li><li><a href="https://www.businessinsider.com/stock-picks-to-buy-industrials-firms-surge-capex-growth-jefferies-2021-3" target="_blank" rel="noopener">Buy these 15 stocks that are set to surge as companies invest their near-record amounts of cash on massive infrastructure projects and technologies, Jefferies says</a></li><li><a href="https://www.businessinsider.com/stocks-to-buy-banks-to-beat-market-value-rotation-ms-2021-3" target="_blank" rel="noopener">Morgan Stanley shares 7 bank stocks set to be among the biggest winners of the market's vast rotation into cheaper names - and lays out 5 reasons why they can continue outperforming</a></li></ul>

You Searched For "mid cap fund" and got 5 results

India’s securities regulator has hurt smaller companies with its recently-implemented mutual fund rules

Dilsher Dhillon

LIC Mutual Fund's large & mid cap funds offer 12.49% CAGR since inception

IANS

Coronavirus: Equity mutual funds give 25 pc negative returns to investors

PTI

Equity MF inflows drop 50 pc to Rs 12k-cr in Dec qtr on valuation, growth concerns

PTI

Hedge funds vs. Chamath, plus finding gems in overlooked mid-cap stocks

Joe Ciolli

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