Nippon India Growth Mid Cap Fund(B)-Direct Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Nippon India Growth Mid Cap Fund(B)-Direct Plan has a NAV of ₹822.6465 as of 10 Sep 2026 and an AUM of ₹52,270 Cr. Its 1-year, 3-year and 5-year returns are 9.7%, 17.88% and 18.39% respectively, and the scheme is marked High Risk.
Our view is that this is a mid-cap equity fund with a strong long-term record, but the recent run has been softer than its 3-year and 5-year pace. The portfolio is spread across 76 holdings, and the leading positions suggest meaningful exposure to financials, healthcare and technology. That mix can support growth participation, but it also means investors need to be comfortable with sharper swings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹822.6465 as of 10 Sep 2026 |
| AUM | ₹52,270 Cr |
| Expense Ratio | 0.74% |
| Launch Date | 01 Jan 2013 |
| Risk Category | High Risk |
| Benchmark | Nifty Mid Cap |
| Fund Category | Equity |
| Exit Load | 1% on or before 1M, Nil after 1M |
| Fund Managers | Rupesh Patel |
The fund is managed by Rupesh Patel.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.28% | -2.37% |
| 3M | 5.73% | 5.39% |
| 1Y | 9.7% | 4.92% |
| 3Y | 17.88% | 15.22% |
| 5Y | 18.39% | 15.05% |
The fund has stayed slightly ahead of the benchmark over every period shown, but the gap is not uniform. The 1-month figure is still negative, which tells us the recent move has been choppy even though it has been a little better than the index over the same stretch.
The 3-month profile looks more constructive. The fund recovered from a weak start and then held a steadier upward path, while the benchmark also improved but with a little less lift. That supports the view that the fund has participated well in the mid-cap rebound without being perfectly smooth.
The longer view is more important here. Both the 3-year and 5-year returns are stronger than the benchmark, which suggests the fund has been able to compound faster than the index over full market cycles. The 5-year result is particularly useful because it shows that the fund has done more than just catch a short rally.
At the same time, the recent 1-year return is clearly lower than the 3-year and 5-year pace, so momentum has cooled versus the fund’s own longer-term track. For investors, that means the fund still looks capable of adding value over time, but it is not a smooth-line product and should be read as a mid-cap growth allocation rather than a defensive one.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD Nippon India Growth Mid Cap Fund(B)-Direct Plan?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Nippon India Growth Mid Cap Fund(B)-Direct Plan? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Nippon India Growth Mid Cap Fund Direct Growth Plan | 9.7% | 17.88% | 18.39% |
| HSBC Midcap Fund Direct Growth Plan | 21.55% | 24.22% | 19.4% |
| WOC Mid Cap Fund Direct Growth Plan | 14.92% | 21.73% | Data not available |
| Helios Mid Cap Fund Direct Growth Plan | 14.33% | Data not available | Data not available |
| ITI Mid Cap Fund Direct Growth Plan | 12.94% | 20.01% | 16.89% |
| Mahindra Manulife Mid Cap Fund Direct Growth Plan | 12.06% | 17.86% | 18.41% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the latest 1-year figure, the fund trails HSBC Midcap Fund Direct Growth Plan, WOC Mid Cap Fund Direct Growth Plan, Helios Mid Cap Fund Direct Growth Plan, ITI Mid Cap Fund Direct Growth Plan and Mahindra Manulife Mid Cap Fund Direct Growth Plan. That shows the recent run has been modest beside some peers, even though it still stayed ahead of the benchmark in the performance table.
Over 3 years, the fund is ahead of Mahindra Manulife Mid Cap Fund Direct Growth Plan and below HSBC Midcap Fund Direct Growth Plan, WOC Mid Cap Fund Direct Growth Plan and ITI Mid Cap Fund Direct Growth Plan. Over 5 years, it is above ITI Mid Cap Fund Direct Growth Plan and broadly close to Mahindra Manulife Mid Cap Fund Direct Growth Plan, while HSBC Midcap Fund Direct Growth Plan remains stronger on the available five-year figure. So the peer picture is mixed: the short-term number looks softer, while the multi-year pattern remains competitive.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| AU Small Finance Bank Limited | Bank | 2.93% |
| Multi Commodity Exchange of India Limited | Finance | 2.8% |
| The Federal Bank Limited | Bank | 2.8% |
| Info Edge (India) Limited | IT | 2.64% |
| Fortis Healthcare Limited | Healthcare | 2.61% |
| BSE Limited | Finance | 2.45% |
| Eternal Limited | Retailing | 2.39% |
| REC Limited | Finance | 2.2% |
| Bharat Forge Limited | Automobile & Ancillaries | 2.05% |
| One 97 Communications Limited | IT | 2% |
The largest holding, AU Small Finance Bank Limited, accounts for 2.93% of the portfolio, so no single position dominates the fund. The drop from the first holding to the tenth is modest in percentage terms, which suggests the visible book is built from several similarly sized bets rather than one very large anchor position.
The top 10 holdings together account for approximately 24.87% of the portfolio, and the fund discloses 76 holdings in total. That combination points to a portfolio that is not narrowly concentrated in the disclosed leaders, although the named holdings still matter because each one carries a meaningful but contained weight.
From a portfolio construction angle, this may allow the fund to benefit from multiple mid-cap themes at once. It could also mean the fund’s path is shaped by several stock-specific outcomes rather than a single position carrying the whole return story.
To see all holdings, visit the Nippon India Growth Mid Cap Fund(B)-Direct Plan page
Source data date: as of 10 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk volatility and can stay invested through uneven mid-cap cycles. The 1-year number is weaker than the 3-year and 5-year records, so the return path has not been straight, but the longer view still shows the fund keeping ahead of its benchmark. That makes a patient horizon more relevant than a short holding period.
The trade-off is clear: you accept sharper price movement in exchange for the chance to participate in stronger mid-cap compounding over time. The portfolio’s broad spread across 76 holdings may help reduce dependence on one stock, but it does not remove the underlying equity risk. Investors looking for a smoother ride may find this unsuitable, while those seeking long-term growth exposure may view the fund more favourably.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 1% if units are sold within 1 month; nil after 1 month.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of Nippon India Growth Mid Cap Fund Direct Growth Plan?
The current NAV is ₹822.6465 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 9.7% over 1 year, 17.88% over 3 years and 18.39% over 5 years.
How does it compare with the benchmark?
It has stayed ahead of the NIFTY Mid Cap benchmark across the 1-month, 3-month, 1-year, 3-year and 5-year periods shown. The longer-term gap is wider than the very recent one.
How does it compare with peers on available return data?
Its latest 1-year return is below the stronger peer numbers shown, while its 3-year and 5-year figures remain competitive and above some peers with available longer-term data. The picture is mixed rather than one-sided.
Does the fund have a minimum SIP amount?
No minimum SIP amount is stated here. Only the SIP facility being allowed is visible.
Who manages the fund and what is the exit load?
The fund is managed by Rupesh Patel. The exit load is 1% if units are sold within 1 month, and nil after 1 month.
Bottom line
This fund’s recent return has been softer than its own 3-year and 5-year track, but it still stays ahead of the benchmark over the periods shown. Peer comparison paints a mixed picture: the latest 1-year figure trails some peers, while the multi-year record remains credible. With a High Risk profile and a portfolio spread across 76 holdings, it looks more suitable for investors who can accept volatility in exchange for mid-cap growth potential over a longer horizon.
Published on 11 September 2026 at 12:48 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.