Sundaram Mid Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Sundaram Mid Cap Fund Direct Growth Plan has a NAV of ₹1,649.3864 as of 09 Sep 2026 and an AUM of ₹14,504 Cr. Its 1-year, 3-year and 5-year returns are 8.98%, 18.04% and 17.17% respectively, and the scheme is tagged High Risk.

Our view is that this is a mid-cap equity fund that has delivered a steadier longer-term outcome than its latest 1-year result suggests. The portfolio is spread across 71 holdings, with the top positions led by financials, industrials and selective consumer-facing names, so investors need comfort with sharper equity swings.

Quick facts

Particular	Details
NAV	₹1,649.3864 as of 09 Sep 2026
AUM	₹14,504 Cr
Expense Ratio	0.92%
Launch Date	02 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty Mid Cap
Fund Category	Equity
Exit Load	Nil upto 25% of units and 1% for remaining units on or before 365D, Nil after 365D
Fund Managers	S. Bharath

The fund is managed by S. Bharath.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.4%	-2.04%
3M	6.44%	4.88%
1Y	8.98%	5.51%
3Y	18.04%	15.36%
5Y	17.17%	15.14%

The fund’s recent path has been uneven, but the last three months and the 1-year figure both point to a recovery after weaker stretches. The 1-month return is still negative, which tells us the fund has not been moving in a straight line, even though the 3-month number shows a better short-run rebound than the benchmark.

Over longer horizons, the picture is more constructive. The 3-year and 5-year returns both stay ahead of the benchmark, which indicates that the fund has been able to compound better than NIFTY Mid Cap over fuller market cycles. That matters in mid-cap investing, where the route to returns is usually less smooth than in large-cap funds.

The time pattern also supports a measured interpretation rather than a simple one-period reading. The 5-year track has included stretches of weakness and recovery, and the same is true over 3 years and 1 year. Our view is that the fund has shown the kind of uneven but improving behaviour that investors often see in mid-cap strategies: some short-term pullbacks, but better compounding when held through longer periods.

Compared with the benchmark, the fund is ahead across all the tracked periods in the main return table. The margin is clearer over 3 years and 5 years than over 1 month, which suggests the relative edge has been built more through sustained compounding than through one-off short bursts.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD Sundaram Mid Cap?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Sundaram Mid Cap Fund Direct Growth Plan	8.98%	18.04%	17.17%
HSBC Midcap Fund Direct Growth Plan	22.93%	24.35%	19.48%
WOC Mid Cap Fund Direct Growth Plan	16.16%	21.78%	Data not available
Helios Mid Cap Fund Direct Growth Plan	14.68%	Data not available	Data not available
ITI Mid Cap Fund Direct Growth Plan	14.35%	20.09%	16.94%
Mahindra Manulife Mid Cap Fund Direct Growth Plan	13.23%	17.96%	18.47%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s 1-year return trails the stronger peer figures available in this set, especially HSBC Midcap Fund Direct Growth Plan and WOC Mid Cap Fund Direct Growth Plan. On the longer horizon, its 3-year return is competitive with several peers, and its 5-year return remains respectable, though not the strongest in the group where data is available.

The short-term and longer-term stories are therefore different. Recent performance has lagged the best peer numbers, but the 3-year and 5-year figures show that the fund has still kept pace with the wider mid-cap pack over fuller holding periods. That makes the fund look more consistent as a longer-horizon mid-cap choice than as a fund defined by one strong recent year.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Mahindra & Mahindra Financial Services Ltd	Finance	3.11%
Cummins India Ltd	Automobile & Ancillaries	2.75%
Cash and Other Net Current Assets	Cash & Cash Equivalents and Net Assets	2.73%
Kalyan Jewellers India Ltd	Diamond & Jewellery	2.72%
The Federal Bank Ltd	Bank	2.71%
Coromandel International Ltd	Chemicals	2.48%
BSE Ltd	Finance	2.38%
IDFC First Bank Ltd	Bank	2.23%
Ge Vernova T and D India Ltd	Capital Goods	2.09%
Coforge Ltd	IT	2.02%

The top 10 holdings account for approximately 25.22% of the portfolio.

To see all holdings, visit the Sundaram Mid Cap Fund Direct Growth Plan page

The largest holding, Mahindra & Mahindra Financial Services Ltd, stands at 3.11%, which is modest rather than dominant. The drop to the tenth holding is gradual, ending at 2.02%, so the visible book does not look sharply tilted toward just one or two names.

That said, the top 10 together account for 25.22% of the portfolio, while the scheme reports 71 holdings in total. Our view is that this points to a portfolio with a meaningful tail beyond the largest positions, which may reduce reliance on any single stock but still leaves the fund tied to mid-cap market movements.

The mix across finance, banking, industrials, chemicals, jewellery and IT suggests a diversified mid-cap style rather than a narrow thematic bet. Because the top positions are only a small slice of the overall portfolio, performance is likely to be driven by how the broader basket of holdings behaves over time.

Source data date: as of 09 Sep 2026

Who should invest

This fund suits investors who can handle High Risk volatility and are willing to stay invested for several years. The 1-year result is weaker than the 3-year and 5-year figures, so short holding periods may not capture the fund’s better compounding pattern.

It is more suitable for people who want mid-cap exposure and can accept that returns may move around more than a large-cap strategy. The benchmark comparison is helpful here: the fund has stayed ahead over 3 years and 5 years, but recent numbers have been less smooth.

The key trade-off is simple: you get a portfolio with a reasonably spread set of mid-cap holdings and a decent longer-term record, but you must be comfortable with uneven near-term performance and sharper drawdowns than in lower-risk equity funds.

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: Nil up to 25% of units and 1% for remaining units on or before 365D; nil after 365D.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of Sundaram Mid Cap Fund Direct Growth Plan?

The current NAV is ₹1,649.3864 as of 09 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s 1-year return is 8.98%, its 3-year return is 18.04%, and its 5-year return is 17.17%.

How does the fund compare with its benchmark?

It is ahead of the benchmark across the tracked periods in the performance table. The gap is especially visible over 3 years and 5 years, while the 1-month comparison is more modest.

How does it compare with the peer funds listed here?

Its 1-year return is below the stronger peer figures shown, but its 3-year and 5-year returns remain competitive with several peers that have available data. That makes the longer-term picture more balanced than the recent one-year result alone.

Is there a minimum SIP amount?

Yes. The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by S. Bharath. The exit load is nil up to 25% of units and 1% for remaining units on or before 365D, and nil after 365D.

Bottom line

Sundaram Mid Cap Fund Direct Growth Plan shows a clearer long-term story than a short-term one. Its recent return has been more muted than its 3-year and 5-year numbers, and it compares reasonably well with the benchmark while trailing some stronger peers on 1-year performance. The portfolio is spread across 71 holdings, with the largest positions still fairly modest in size, which may help keep single-stock dependence limited. For investors who can stay with a high-risk mid-cap allocation through uneven periods, the fund’s longer-term pattern is the more relevant part of the picture.

Published on 10 September 2026 at 1:55 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.