Union Midcap Fund

April 4, 2026 RA Jainee Leave a reply

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Union Midcap Fund

⚖️ Sahifund Review – Union Midcap Fund ✔

✓ PLUS: Union Midcap Fund has done a reasonably solid job for a relatively smaller AMC, especially in the 1-year period (6.04%), where it has outperformed both its benchmark and the broader mid-cap category average. Its 5-year return of 17.33% also shows that it has participated well in the mid-cap wealth creation cycle. The fund’s 70-stock portfolio is well diversified for a mid-cap scheme, reducing stock-specific blow-up risk compared to concentrated peers. It also carries a healthy 69.54% pure mid-cap allocation, which keeps the strategy true to category. For SIP investors who want a genuine mid-cap play without excessive top-heavy concentration, this fund remains relevant. The fund’s moderate AUM also means it still has room to maneuver more flexibly than giant mid-cap funds.

⚖️ MINUS: The issue is that while performance is decent, it is not category-leading enough to stand out against stronger peers like HDFC Mid Cap, Nippon India Growth Mid Cap and Edelweiss Mid Cap, especially over the 3-year and 5-year period. The expense ratio of 0.83% is acceptable, but not especially attractive when better-performing peers are available at similar or lower costs. The turnover of 92% is on the higher side, which suggests active churn and can increase execution risk. The portfolio also looks expensive with a P/E of 37.61, which can make returns vulnerable if mid-cap valuations cool off. And as always with mid-cap funds, investors must be prepared for sharp volatility and temporary drawdowns, especially in weak markets.

Sahifund View (Decisive Line):

A decent SIP-friendly mid-cap fund with good participation in the cycle — but not yet compelling enough to be a top-tier category pick.

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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? 
Mid-cap funds are suitable for investors: 
1. Seeking exposure in mid-cap stocks for high returns 
2. Aiming for long-term wealth creation 
3. With a 7+ year investment horizon 
4. Who can withstand interim sharp declines in investment value 
Note: 
• Invest only through SIP 

Fund’s Investment Strategy: 
The Scheme seeks to achieve long term capital appreciation and generate income by investing predominantly in equity and equity related securities of mid cap companies. 

Fund Manager: 

1) Gaurav Chopra 
Education: Mr. Chopra has done B.Com, Chartered Accountant and CFA (Level III cleared) 
Experience: Prior to joining Union Mutual Fund, he was associated with Centrum Portfolio Management Services- Centrum Broking Ltd., Barclays Wealth Trustees (India) Pvt. Ltd. and Sharp & Tanan Associates 
2) Pratik Dharmshi 
Education: Mr. Dharmshi has done B. Com & CA 
Experience: Prior to joining Union AMC, he was associated with UTI Pension Fund Limited, Safe Enterprises, Girik Capital, Edelweiss AMC, JP Morgan India Pvt. Ltd., CRISIL Ltd. & Morgan Stanley Advantage Services Pvt. Ltd.