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 | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹53.6100 | — | — | — | — |
| Regular Growth | ₹49.2700 | +2.41% | +8.72% | +19.46% | +18.43% |
| Direct IDCW | ₹53.6100 | — | — | — | — |
| Regular IDCW | ₹49.2700 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Active Stock PickerActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
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.
Frequently Asked Questions
How many stocks does Union Midcap Fund hold?
Union Midcap Fund holds 71 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 15.65% of NAV.
What is the largest holding in Union Midcap Fund?
The largest position in Union Midcap Fund is The Federal Bank Ltd., accounting for 4.14% of NAV in the Banks sector.
Is Union Midcap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.289, Union Midcap Fund is well-diversified. The HHI concentration index is 17,525 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 15.65% of the portfolio.
What is the market cap allocation of Union Midcap Fund?
Based on SEBI's AMFI classification, Union Midcap Fund's equity portfolio is split as: Large Cap: 12.92%, Mid Cap: 65.39%, Small Cap: 18.32%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Union Midcap Fund invest in most?
Union Midcap Fund has the highest allocation to Banks (10.36%), Pharmaceuticals & Biotechnology (9.30%), Auto Components (8.44%). The fund is invested across 30 sectors in total.
How actively managed is Union Midcap Fund compared to other Mid Cap Fund funds?
Union Midcap Fund has an Active Share of 54.12%, classifying it as "Active Stock Picker" among 30 Mid Cap Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in Union Midcap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Union Midcap Fund added 4 new stocks (including Bharat Heavy Electricals Ltd.) and exited 5 stocks (including Info Edge (India) Ltd.). Total holding count decreased from 74 to 73 stocks.