Union Midcap Fund
Union Midcap Fund is positioned for steady growth through financials and infrastructure plays, with banks commanding over 10% allocation alongside rising exposure to electrical equipment and energy transition themes. The manager recently rotated out of consumer discretionary and tech into heavyweight financial stocks like Axis Bank and BHEL, signaling conviction in cyclical recovery and capex-driven infrastructure demand. Moderate concentration—top-10 at 27%—with 73 holdings provides balanced conviction without excessive single-name risk, though the pivot away from growth assets suggests cautious near-term positioning.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹53.0700 | — | — | — | — | — | — |
| Regular Growth | ₹48.7700 | +3.28% | +1.18% | -0.16% | +9.06% | +19.26% | +18.19% |
| Direct IDCW | ₹53.0700 | — | — | — | — | — | — |
| Regular IDCW | ₹48.7700 | — | — | — | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Bharat Heavy Electricals Ltd. | 1.80% |
| Axis Bank Ltd. | 1.08% |
| Eternal Ltd. | 0.69% |
| 364 Day Treasury Bills | 0.05% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | The Federal Bank Ltd. INE171A01029 | 4.14% |
| 2 | Max Financial Services Ltd. INE180A01020 | 3.14% |
| 3 | Fortis Healthcare Ltd. INE061F01013 | 2.91% |
| 4 | L&T Finance Ltd. INE498L01015 | 2.80% |
| 5 | Nippon Life India Asset Management Ltd. INE298J01013 | 2.66% |
| 6 | Indian Bank INE562A01011 | 2.55% |
| 7 | Jindal Steel Ltd. INE749A01030 | 2.33% |
| 8 | JSW Energy Ltd. INE121E01018 | 2.22% |
| 9 | The Phoenix Mills Ltd. INE211B01039 | 2.17% |
| 10 | GE Vernova T&D India Ltd. INE200A01026 | 2.13% |
| 11 | KEI Industries Ltd. INE878B01027 | 2.11% |
| 12 | Cummins India Ltd. INE298A01020 | 2.05% |
| 13 | IPCA Laboratories Ltd. INE571A01038 | 2.02% |
| 14 | Shriram Finance Ltd. INE721A01047 | 1.95% |
| 15 | Bharti Hexacom Ltd. INE343G01021 | 1.86% |
| 16 | Mphasis Ltd. INE356A01018 | 1.81% |
| 17 | Bharat Heavy Electricals Ltd. INE257A01026 | 1.80% |
| 18 | Vishal Mega Mart Ltd. INE01EA01019 | 1.79% |
| 19 | CG Power and Industrial Solutions Ltd. INE067A01029 | 1.75% |
| 20 | One 97 Communications Ltd. INE982J01020 | 1.64% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.