EquityMid Cap FundRegularVery High

Nippon India Growth Mid Cap Fund

Q: What is the NAV of Nippon India Growth Mid Cap Fund?

As of 01 Oct 2026, the NAV of Nippon India Growth Mid Cap Fund is ₹711.43 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Nippon India Growth Mid Cap Fund delivered?

Nippon India Growth Mid Cap Fund has returned +3.65% over 1 year, +15.55% per year over 3 years, +15.83% per year over 5 years and +15.24% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund charges an expense ratio of 1.55% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund's largest holdings are AU Small Finance Bank Limited (2.9%), The Federal Bank Limited (2.8%), Multi Commodity Exchange of India Limited (2.8%), Info Edge (India) Limited (2.6%) and Fortis Healthcare Limited (2.6%). Holdings are disclosed monthly and change over time.

Q: How risky is Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.6% and its worst peak-to-trough fall in our sample was -62.6%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.54 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Growth Mid Cap Fund's 0.54 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund is benchmarked against the Tier 1 Benchmark: NIFTY Midcap 150 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund is managed by Rupesh Patel at Nippon India.

Q: How is Nippon India Growth Mid Cap Fund taxed?

Nippon India Growth Mid Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Nippon India Mutual Fund · Best Mid Cap Mutual Funds

NAV

₹711.43

-0.98% 1D

as of 01 Oct 2026

This is the Regular plan of Nippon India Growth Mid Cap Fund — bought through a distributor, whose commission is paid out of its expense ratio.

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Performance

+4.40%CAGR

52-week rangePrev NAV ₹718.44

Latest ₹711.43

Low ₹634.9459th percentile of its 52-week rangeHigh ₹765.57

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Equity funds (same plan and option) to rank against yet.

PerformanceStrong

3Y CAGR +15.55% · ranks 9 of 30 Mid Cap Funds

RiskModerate

Volatility 16.6% vs 16.1% category avg

CostLow

1.6% expense vs 2.2% category avg

ConsistencyHigh

93% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

3-year return (+15.55%) beats the Mid Cap Fund average (+13.94%)
5-year return (+15.83%) beats the Mid Cap Fund average (+13.26%)
Stronger risk-adjusted returns — Sharpe 0.54 vs 0.45 Mid Cap Fund average
Low expense ratio (1.55%) vs the Mid Cap Fund average of 2.20%
Consistent — positive in 93% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.55%

Category 2.20%▼0.65%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

24.70

Category —

Excess return per unit of total volatility (rf = 6.5%)

0.54

Category 0.45▲0.09

Scheme Info

Definitions

Plan

Regular

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

1% if redeemed or switched out on or before completion of 1 month from the date of allotment of units.Nil, thereafter.

1.00%

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

Tier 1 Benchmark: NIFTY Midcap 150 TRI

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

03 Apr 2006

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-5.61%

Absolute return over the last 3 months (not annualized)

-4.81%

Absolute return over the last 6 months (not annualized)

+9.77%

Absolute return since 1 Jan of this year (not annualized)

+1.16%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+3.65%

3-year annualized return (CAGR)

+15.55%

5-year annualized return (CAGR)

+15.83%

10-year annualized return (CAGR)

+16.80%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+15.24%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

16.63%

Excess return per unit of total volatility (rf = 6.5%)

0.54

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.73

Largest peak-to-trough decline over full history

-62.65%

Benchmark ratios (vs Nifty Midcap 150 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty Midcap 150 TRI

2.06%

Sensitivity to Nifty Midcap 150 TRI moves; 1 = moves with the index

0.96

How much of the fund's movement Nifty Midcap 150 TRI explains

95.9%

Excess return per unit of beta (market risk)

9.86

Active return over the benchmark per unit of tracking error

0.54

Annualized std dev of fund-minus-benchmark returns

3.79%

Fund's share of benchmark gains in up months (100 = matches index)

99.4%

Fund's share of benchmark losses in down months (lower is better)

89.8%

Computed vs the Nifty Midcap 150 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Mid Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-5.61%	-6.05%	+0.44%
3M abs	-4.81%	-3.00%	-1.81%
6M abs	+9.77%	+12.21%	-2.44%
1Y CAGR	+3.65%	+3.61%	+0.04%
3Y CAGR	+15.55%	+13.94%	+1.61%
5Y CAGR	+15.83%	+13.26%	+2.57%

Category average across peers in Mid Cap Fund (up to 34 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 34 peers in Mid Cap Fund

1Y return

+3.65%

Beats 54.8% · rank #15

3Y return

+15.55%

Beats 72.4% · rank #9

5Y return

+15.83%

Beats 86.4% · rank #4

Sharpe

0.54

Beats 79.3% · rank #6

Sortino

0.73

Beats 72.4% · rank #8

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹8.73L

Absolute

+45.54%

XIRR

+15.47%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Nippon India Growth Mid Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty Midcap 150 TRI	Diff
2026part	+1.16%	-1.81%	+2.97%
2025	+3.59%	+6.24%	-2.65%
2024	+26.90%	+24.74%	+2.16%
2023	+48.61%	+45.27%	+3.34%
2022	+5.81%	+4.09%	+1.72%
2021	+46.46%	+48.31%	-1.85%
2020	+22.05%	+26.10%	-4.05%
2019	+6.78%	—	—
2018	-10.90%	—	—
2017	+44.32%	—	—

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

History points

5,047

Expense ratio

1.55%

AUM

₹46,445Cr

Portfolio turnover

13%

Exit load

1% if redeemed or switched out on or before completion of 1 month from the date of allotment of units.Nil, thereafter.

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

24.7

P/B ratio

5.0

Avg market cap

₹1,00,359Cr

P/E & P/B are portfolio-weighted harmonic means across 81 of 100 equity holdings (83% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Mid Cap Fund

Compare all


Nippon India Growth Mid Cap FundThis fund Nippon India · Regular	—	+3.65%	+15.55%	+15.83%	—	1.55%	₹46,445Cr
HSBC Midcap Fund HSBC · Regular · Growth	★★★★☆	+14.70%	+20.52%	—	—	2.16%	₹13,701Cr
Invesco India Mid Cap Fund Invesco · Regular · Growth	★★★★☆	+5.40%	+20.37%	+16.99%	—	1.86%	—
ICICI Prudential Mid Cap Fund ICICI Prudential · Regular · Growth	★★★☆☆	+8.99%	+18.36%	+14.86%	—	1.84%	—
WhiteOak Capital Mid Cap Fund WhiteOak Capital · Regular · Growth	★★★★★	+9.32%	+18.33%	—	—	2.24%	₹5,514Cr
WhiteOak Capital Mid Cap Fund WhiteOak Capital · Regular · IDCW	—	+9.32%	+18.33%	—	—	2.24%	₹5,514Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 98% of the equity sleeve priced.

Large cap22.2%
Mid cap65.8%
Small cap12.1%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity98.77%
Cash & Equivalents1.23%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
PGIM India Midcap Fund PGIM India · Mid Cap Fund	46.0%	★★☆☆☆	0.72%	+10.51%
Tata Nifty Midcap 150 Index Fund Tata · Index Funds	46.0%	★★★☆☆	0.29%	—
Baroda BNP Paribas Nifty Midcap 150 Index Fund Baroda BNP Paribas · Index Funds	46.0%	★★★☆☆	0.58%	—
Nippon India Nifty Midcap 150 Index Fund Nippon India · Index Funds	45.9%	★★★★☆	0.37%	+12.85%
Nippon India ETF Nifty Midcap 150 Nippon India · Other ETFs	45.9%	—	0.24%	+13.04%
Navi Nifty Midcap 150 Index Fund Navi · Index Funds	45.7%	★★★★☆	0.38%	+12.73%
HDFC Nifty Midcap 150 Index Fund HDFC · Index Funds	45.7%	★★★★☆	0.34%	+12.74%
Motilal Oswal Nifty Midcap 150 Index Fund Motilal Oswal · Index Funds	45.7%	★★★★★	0.39%	+13.07%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 0.47% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

Mtar Technologies LimitedLong-term · Stage IV0.47%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-62.6%04 Jan 2008 → 09 Mar 2009
Fell over 14 months, back to the old high on 23 Aug 2010 — 17 months under water after the low.
-35.4%20 Feb 2020 → 03 Apr 2020
Fell over 43 days, back to the old high on 13 Nov 2020 — 7 months under water after the low.
-34.9%08 Nov 2010 → 20 Dec 2011
Fell over 13 months, back to the old high on 13 May 2014 — 2.4 years under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹46,445Cr

April - June 2026

+10%

since January - March 2026

+₹3,884Cr

est. net flow, last quarter

At or near its largest, ₹46,445Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

Nippon India Mutual Fund is managed by Nippon Life India Asset Management, which took control of the former Reliance Mutual Fund in 2019 when Nippon Life of Japan bought out the Reliance Capital stake. It is among India's largest fund houses by assets and is best known for its small- and mid-cap franchise.

Launched

29 Jun 1995

Total AUM

₹7,87,053Cr+4.7% QoQ

Avg AUM · July - September 2026

Website

mf.nipponindiaim.com

Fund Managers

RPRupesh PatelManaging since 01 Jan 2023

Role

Senior Fund Manager Fund

Education

MBA (Finance) B.E. (Civil)

Experience

Over 25 years of experience in Equity Markets From June 15, 2021 onwards NAM India : Senior Fund Manager – Equity May 2008 – June 2021 Tata Asset Management Ltd.: Senior Fund Manager : May 2019 to June 14, 2021 Tata Asset Management Ltd.: Fund Manager : June 2013 to April 2019 Tata Asset Management Ltd.: Head PMS – Investments : January 2012 to May 2013 Tata Asset Management Ltd.: DGM – Investments : May 2008 to December 2011 August 2007 – April 2008 Indiareit Fund Advisors Pvt. Ltd. : Assistant Vice President November 2001 – August 2007 CARE : Deputy General Manager : November 2006 to August 2007 CARE : Senior Manager : April 2005 to October 2006 CARE : Manager : August 2004 to March 2005 CARE : Analyst : November 2001 to August 2004

Funds managed (1)

Nippon India ELSS Tax Saver Fund

All schemes Rupesh Patel runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Rupesh Patel

Top holdings

AU Small Finance Bank Limited The Federal Bank Limited Multi Commodity Exchange of India Limited Info Edge (India) Limited Fortis Healthcare Limited BSE Limited Eternal Limited REC Limited Bharat Forge Limited One 97 Communications Limited GE Vernova T&D India Limited Mankind Pharma Limited

Nippon India in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

Run SIP calculator Add to compare

Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Mid Cap funds

Mid cap funds invest in the 101st–250th largest companies. They can grow faster than large caps but fall harder in downturns — a higher-risk, higher-reward slice of the market.

Frequently asked questions

What is the NAV of Nippon India Growth Mid Cap Fund?

As of 01 Oct 2026, the NAV of Nippon India Growth Mid Cap Fund is ₹711.43 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Nippon India Growth Mid Cap Fund delivered?

Nippon India Growth Mid Cap Fund has returned +3.65% over 1 year, +15.55% per year over 3 years, +15.83% per year over 5 years and +15.24% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund charges an expense ratio of 1.55% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund's largest holdings are AU Small Finance Bank Limited (2.9%), The Federal Bank Limited (2.8%), Multi Commodity Exchange of India Limited (2.8%), Info Edge (India) Limited (2.6%) and Fortis Healthcare Limited (2.6%). Holdings are disclosed monthly and change over time.

How risky is Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 16.6% and its worst peak-to-trough fall in our sample was -62.6%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.54 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Growth Mid Cap Fund's 0.54 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund is benchmarked against the Tier 1 Benchmark: NIFTY Midcap 150 TRI. Its alpha and beta on this page are measured against that index.

Who manages Nippon India Growth Mid Cap Fund?

Nippon India Growth Mid Cap Fund is managed by Rupesh Patel at Nippon India.

How is Nippon India Growth Mid Cap Fund taxed?

Nippon India Growth Mid Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.