Nippon India Growth Mid Cap Fund has recently completed 30 years and has consistently rewarded investors with strong returns across market cycles.
For investors who invested through a lump sum, the fund has delivered a remarkable 22.20% compounded annual growth rate (CAGR), while SIP investors have earned an even higher 22.53% CAGR. This makes it the only mid-cap fund in India whose value has grown more than 400 times since inception.
Backed by solid portfolio management and long-term conviction in quality mid-cap stocks, the fund continues to hold a 5-star rating on Value Research, reflecting its consistent performance and investor trust.
Midcap fund with highest CAGR in India
Nippon India Growth Mid Cap Fund has proven itself to be not just the king of the mid-cap category, but also one of the best-performing equity mutual funds overall — thanks to its strong investment strategy and consistent performance. The fund, which has completed 30 years this month, has delivered high returns consistently over three decades.
For lump sum investors, it has provided a CAGR of 22.20%, while SIP investors have earned 22.53% CAGR. It is the only mid-cap fund whose overall returns have exceeded 400 times the initial investment. The fund also holds a 5-star rating on Value Research.
According to the fund’s fact sheet (as of September 30, 2025), the total Assets Under Management (AUM) stood at Rs 39,328.98 crore. The expense ratio was 1.55% for the regular plan and 0.75% for the direct plan.
This fund has turned a monthly SIP of Rs 2,500 into Rs 6.5 crore over 30 years. All SIP and lump sum return calculations have been taken directly from the mutual fund’s official fact sheet.
Nippon India Growth Mid Cap Fund: Investment strategy
Nippon India Growth Fund is a mid-cap fund, which means that the majority of its investments are made in stocks of mid-cap companies. The fund selects companies with strong current fundamentals and promising future growth potential.
The fund manager’s focus is on identifying companies that have the potential to become market leaders in the future. This strategy aims to generate high returns over the long term.
Another key aspect of the approach is ensuring that investments are made at reasonable valuations, rather than buying stocks that have already become too expensive.
However, it is important to note that there is no guarantee that this strategy will work well in every market phase.
Lump sum investment performance
Nippon India Growth Mid Cap Fund has completed 30 years since its launch on October 8, 1995. Over this 30-year journey, the fund has delivered an impressive annualised return of 22.20% through lump sum investment.
At this rate, an initial investment of Rs 10,000 has grown to Rs 40,92,986 (approximately Rs 41 lakh). Similarly, an investment of Rs 25,000 has grown to Rs 1.02 crore.
Fund’s SIP performance
The fund has returned 22.53% CAGR on SIP investment over the last 30 years, turning Rs 2,500 monthly investment into Rs 6,46,72,440.
Take a look at the fund’s SIP returns (annualised) over different time periods
Over 25 years: 22.00%
Over 20 years: 17.09%
Over 15 years: 18.63%
Over 10 years: 20.64%
Nippon India Growth Fund details
Total assets (as of September 30, 2025): Rs 39,328.98 crore
Expense ratio (as of September 30, 2025) – Regular plan: 1.55%
Expense ratio (as of September 30, 2025) – Direct plan: 0.75%
Standard Deviation: 15.44
Beta: 0.94
Sharpe Ratio: 1.12
Fund Manager: Rupesh Patel
Entry Load: None
Exit Load: 1% if redeemed or switched within 1 month from the date of unit allotment
Top 10 stocks in the portfolio
Fortis Healthcare: 3.34%
BSE: 2.65%
Cholamandalam Financial Holdings: 2.56%
Voltas: 2.21%
AU Small Finance Bank: 2.14%
Max Financial: 2.04%
Persistent Systems: 2.02%
The Federal Bank: 2.01%
Power Finance Corporation (PFC): 2.00%
Ashok Leyland: 1.88%
Fund’s exposure to top 10 sectors
Auto Components: 8.38%
Finance: 8.18%
Banks: 7.25%
Pharmaceuticals & Biotechnology: 6.36%
Retail: 6.22%
Consumer Durables: 5.89%
Industrial Products: 5.48%
Healthcare Services: 5.12%
Capital Markets: 4.91%
Power: 4.46%
Who should invest?
This scheme is suitable for investors who have the capacity to take high market-linked risks in pursuit of higher returns and who can hold their investment for at least 5 years or longer.
Since it primarily invests in mid-cap stocks, it is inherently exposed to market volatility and risk. Investors should also be prepared for the possibility that achieving strong returns may require a long holding period.
Disclaimer: The purpose of this article is purely informational and should not be considered investment advice. Past performance of any fund does not guarantee similar results in the future. Investors should make investment decisions only after obtaining complete information and consulting their financial or investment advisor.
Note: This content has been translated using AI. It has also been reviewed by FE Editors for accuracy.
