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Tuesday, March 31, 2015

UTI Mid Cap Fund - Invest Online

An open-ended equity fund with the objective to provide 'Capital appreciation' by investing primarily in mid cap stocks.

The fund has been a consistent performer in the last four years and it has managed to deliver superior returns than its peers. It has outperformed its benchmark by 34 per cent and the category average by 15 per cent in the last year.

However, the fund had an uneven performance record before it turned around four years ago. The fund started off well but then skidded into a rough patch in the next three years before staging a brief recovery in 2009. However, it has performed admirably since then. Its trailing three- and five-year returns reflect its renewed performance, as it beat its benchmark by over 10 per cent. Cumulatively, the fund had outperformed the benchmark by over 50 per cent by the end of 2014.

Its average mid-cap holdings in 2014 have been 56 per cent, but it did have a higher exposure to small caps for brief time periods earlier. The fund looks for companies with a track record of generating positive operating cash flows for at least three out of five years on a historic basis.

It also focuses on companies that could spring positive earnings growth surprises and limits its enthusiasm for perpetual turnaround candidates. If at all it falls for the temptation to invest in companies that do not generate cash flows consistently, it limits such holding to less than 1.5 per cent of the total portoflio on an individual basis.

Finally, you should pick this one if you are impressed with its consistency in the last four years and the stable management behind it for more than a decade.

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