This mutual fund has given over 22% annualised SIP return over 8 years

A monthly SIP in Mahindra Manulife Mid Cap Fund over the past eight years has delivered an XIRR of 22.3%, outperforming the 21.1% generated by the Nifty Midcap 150 TRI during the same period, according to fund data.

The scheme, whose date of allotment is January 30, 2018, has also outperformed its benchmark across multiple point-to-point return periods. Over three-, five- and seven-year timeframes, the fund has delivered returns at least two percentage points higher than the Nifty Midcap 150 TRI. It has also exceeded the category average across one-, three-, five- and seven-year periods.

Rolling return data further indicate consistency.

Between January 2018 and February 2026, three-year rolling returns show that the fund outperformed the benchmark for more than 81% of the observations. Over this period, the scheme delivered mean returns of 26%, compared with 24.6% for the index. The standard deviation of the fund’s three-year rolling returns stood at 5.2%, lower than the benchmark’s 6%, indicating relatively better risk-adjusted performance.

ALSO READ | ₹1 lakh invested in a money market mutual fund has grown over 4x in 23 years

As of January 30, 2026, the fund held a portfolio of 61 stocks, with the top 10 holdings accounting for about 26% of total assets, reflecting diversified exposure. Financial services stocks formed the largest allocation at around 29%, followed by automobiles and auto components, healthcare and select capital goods. The scheme has remained largely fully invested, with cash and debt exposure typically limited to 2–3%.

Midcap funds have attracted strong investor interest in recent years, with category assets rising significantly between December 2022 and December 2025. The Nifty Midcap 150 TRI has also outperformed broader large-cap and small-cap indices across multiple timeframes, increasing competition for active managers.

However, midcap strategies tend to be more volatile than large-cap funds and can experience sharper drawdowns during market corrections. Past performance does not guarantee future returns, and investors should evaluate their risk appetite and investment horizon before investing in midcap-oriented schemes.

JM Financial Asset Management launches ₹1,500 crore Category II Pre-IPO AIF