December 29, 2025
RA Jainee
DSP Midcap Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 165.95 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 72.02 |
| Min. Investment (Rs.) | 100 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 12 |
| Benchmark | NIFTY Midcap 150 TRI |
| AUM Rs. | 19,855 Cr |
| (As on 30-Nov-2025) | |
| Expense | 0.73% |
| 1 Year Return (%) | 2.64 |
| 3 Year Return (%) | 21.46 |
| 5 Year Return (%) | 17.38 |
| 10 Year Return (%) | 15.86 |
| Return Since Launch | 17.45% |
⚖️ Sahifund Review — DSP Midcap Fund ✓
PLUS: Stability, track record, cost efficiency
DSP Midcap Fund carries a long, tested track record since 2013, giving investors confidence in its process across multiple market cycles. Over the long term, the fund has delivered steady wealth creation with ~21% CAGR over 3 years and ~16% over 10 years. The portfolio maintains a clear midcap orientation, helping investors participate in India’s structural growth story. A moderate expense ratio of 0.73% and controlled churn support efficient compounding. Backed by DSP Mutual Fund, the fund follows a research-driven and risk-aware approach.
MINUS: Large AUM, large-cap bias, momentum lag
With assets nearing Rs. 20,000 Cr, agility during sharp midcap rallies can be limited. Recent performance has lagged category leaders, especially in strong momentum phases. The fund also carries a meaningful large-cap exposure, which may dilute pure midcap alpha. Return rankings remain subdued in the short to medium term.
Decisive Line (Sahifund View):
Suitable for patient SIP investors (7+ years) who prefer consistency and risk control in midcaps rather than chasing high-volatility outperformers.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
When you invest for seven years or more, you can expect gains that comfortably beat the inflation rate as well as returns from fixed income options.
This is a fund that invests in medium-sized companies. Compared to those that invest in larger companies, such funds tend to fall more when stock prices fall. So while you can expect higher returns in the long term, there will be more severe ups and downs along the way.
Like for all equity funds, you must invest only through the SIP route.
Fund’s Investment Strategy:
The scheme aims to generate long term capital appreciation from a portfolio that is substantially constituted of equity and equity related securities of midcap companies.
Fund Manager:
1) Vinit Sambre
Education: Mr. Sambre is a B.Com and FCA.
Experience: Prior to joining DSP he was associated with DSP Merrill Lynch Ltd.(Nov 2005 to Jun 2007), IL & FS Investsmart Ltd. (Dec 2002 to Oct 2005), Unit Trust of India Investment Advisory Services Ltd.(Jun 2000 to Dec 2002), Kisan Ratilal Choksey Shares and Securities Pvt. Ltd. (March 1999 to May 2000) and Credit Rating Information Service of India Ltd.(Apr 1998 to Feb 1999).
2) Abhishek Ghosh
Education: Mr. Ghosh is a MBA Finance, BE (Electronics)
Experience: Prior to joining DSP Mutual Fund, he has worked with Motilal Oswal Securities, IDFC securities Ltd, BNP Paribas, B&K Securities, Edelweiss Securities.
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | 500 |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 364 days |
Basic Details of DSP Midcap Fund
| Fund House | DSP Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 17.45% |
| Benchmark | NIFTY Midcap 150 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | Rs 19,855 Cr |
| (As on 30-Nov-2025) | |
| Expense | 0.73% |
| (As on 30-Nov-2025) | |
| Risk Grade | Above Average |
| Return Grade | Low |
| Turnover | 26.00% |
Trailing Returns (%) of DSP Midcap Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| DSP Midcap Dir | 2.33 | -0.52 | -1.60 | 3.08 | 1.67 | 2.64 | 21.46 | 17.38 | 17.43 | 15.86 |
| BSE 150 MidCap TRI | 3.31 | -0.22 | -1.13 | 4.43 | 1.84 | 3.65 | 23.80 | 23.89 | 20.66 | 17.97 |
| Equity: Mid Cap | 2.75 | -0.34 | -1.49 | 4.38 | 1.11 | 2.92 | 23.27 | 22.98 | 20.40 | 17.26 |
| Rank within category | 29 | 50 | 38 | 39 | 29 | 30 | 32 | 25 | 19 | 15 |
| Number of funds in category | 48 | 57 | 55 | 54 | 52 | 48 | 40 | 25 | 22 | 19 |
Peer Comparison of DSP Midcap Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| DSP Midcap Dir | 1 star | 2.64 | 21.46 | 17.38 | 0.73 | 19,855 | 17.45 | 1.00 (364) | 12Y 11M | 26.00 |
| HDFC Mid Cap Dir | 5 star | 7.22 | 26.78 | 26.48 | 0.71 | 92,169 | 20.96 | 1.00 (365) | 12Y 11M | 13.07 |
| Kotak Midcap Dir | 4 star | 2.88 | 23.06 | 24.31 | 0.37 | 60,480 | 20.51 | 1.00 (365) | 12Y 11M | 24.73 |
| Nippon India Growth Mid Cap Dir | 4 star | 4.44 | 26.30 | 25.99 | 0.73 | 42,042 | 18.56 | 1.00 (30) | 12Y 11M | 6.00 |
| Motilal Oswal Midcap Dir | 5 star | -10.08 | 27.18 | 29.39 | 0.72 | 38,003 | 22.80 | 1.00 (365) | 11Y 10M | 124.00 |
Portfolio Analysis of DSP Midcap Fund
| No. of Stocks | 60 |
| Top 10 Stocks | 28.86% |
| Top 5 Stocks | 16.73% |
| Top 3 Sectors | 50.09% |
| Portfolio P/B Ratio | 4.09 |
| Portfolio P/E Ratio | 28.55 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 58,795 | 64,456 |
| Giant (%) | 4.87 | 5.25 |
| Large (%) | 24.47 | 40.03 |
| Mid (%) | 66.45 | 55.71 |
| Small (%) | 4.21 | 4.06 |
| Tiny (%) | — | 2.05 |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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