With a 10-year return of 16.5%, the fund has comfortably outperformed both the category average (13.9%) and the benchmark index (12.1%).
This is a true-to-label mid-cap fund with a focus on turnaround stories. It identifies businesses witnessing weaker earnings growth in relation to their true potential. The aim is to spot stocks with favourable risk reward profiles and to ride their earnings recovery.
With a bottom-up process, the UTI Mid Cap Fund is quite agnostic to value and growth, even as it retains some value stocks because of their growth potential. Under the current manager, the portfolio has been pruned from 100-plus to around 65 stocks, allowing for meaningful positions in high conviction bets. While the fund has underperformed in recent years, amid a largely growth and momentum-driven rally, it's longer term track record is healthy.
Top 10 Tax Saving Mutual Funds of 2018
Best 10 ELSS Mutual Funds to Invest in India of 2018
1. Tata India Tax Savings Fund
2. Mirae Asset Tax Saver Fund
3. DSP BlackRock Tax Saver Fund
4. Sundaram Diversified Equity Fund
5. Birla Sun Life Tax Relief 96
6. ICICI Prudential Long Term Equity Fund
7. Invesco India Tax Plan
8. Reliance Tax Saver (ELSS) Fund
9. Axis Tax Saver Fund
10. BNP Paribas Long Term Equity Fund
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