Nippon India Growth Midcap Fund: Glorious 30 year run of wealth creation

Nippon India Growth Midcap Fund has completed 30 years since its launch in 1995. A long-time favourite of retail investors, the wealth creation track record of this fund is legendary. If you had invested Rs 1 lakh in the fund at the time of its launch, your investment would have multiplied 400X to a little over Rs 4 crores (see the chart below).

Source: Advisorkhoj Research, as on 30^th September 2025

The SIP performance of the fund is also spectacular. If you had invested Rs 10,000 every month in Nippon India Growth Midcap Fund since its inception, you could have accumulated a corpus of Rs 26.56 crores with a cumulative investment of just Rs 36 lakhs (see the chart below).

Source: Advisorkhoj Research, as on 3^rd October 2025

In the last 30 years, Nippon India Growth Midcap Fund has seen many bull market and bear market cycles. You should know that midcap funds are usually more volatile than large cap funds, especially in bear market conditions (e.g. 2008 Global Financial Crisis, COVID-19 pandemic in 2020 etc). However, the fund has rewarded disciplined investors who had long investment horizon. The chart below shows the rolling 10 year SIP returns of Nippon India Growth Midcap Fund since the inception of the scheme. You can see that the fund has never given negative returns over 10 year SIP tenures. The average and median 10 year SIP XIRR of the fund was 23.5% and 18.6% respectively.

Source: Advisorkhoj Research, as on 3^rd October 2025

The chart below shows the distribution of rolling 10 year SIP XIRR of Nippon India Growth Midcap Fund since its inception. You can see that the fund has almost always (98% of the instances) given double digit SIP XIRR for 10 year SIP tenure.

Source: Advisorkhoj Research, as on 3^rd October 2025

Superior risk / return trade-off versus the benchmark across market conditions

The chart below shows the 3 year rolling returns of Nippon India Growth Midcap Fund versus its benchmark index (Nifty Midcap 150 TRI) over the last 20 years (since 1^st January 2005). The average 3 year rolling return of he fund was 16.78% versus 16.02% for the benchmark. The 3 year rolling returns distribution of the fund versus the benchmark shows that the fund has lesser percentage instances of negative returns and a higher percentage instances of 12%+ CAGR returns. Therefore, the fund provided superior risk / return trade-off relative to the benchmark index.

Source: Advisorkhoj Research, as on 3^rd October 2025

Limited downside risks for investors

The chart below shows the drawdowns of the fund versus the benchmark index over the last 20 years. You can see that the fund was able to limit downside risks for the investors. The maximum drawdown of the scheme in last 20 years was -63%, while that of the benchmark was -73%.

Source: Advisorkhoj Research, as on 3^rd October 2025

Strong performance consistency relative to peers

Most funds go through periods of underperformance, but Nippon India Growth Midcap Fund has always bounced back to outperform its peers. In the last 10 years (2015 to 2024), the fund was in top 2 quartiles 6 times. The fund is in the top quartile in the current year, 2025 (YTD), as well.

Source: Advisorkhoj Research, as on 3^rd October 2025

Nippon India Growth Midcap Fund – Investment philosophy

Investment Strategy

Current portfolio positioning

Source: Nippon India MF Fund Factsheet, as of 31^st August 2025

Who can invest in Nippon India Growth Midcap Fund?

• Investors seeking capital appreciation or wealth creation over long investment tenures


• Investors with very high risk appetites


• Investors with long (minimum 5 years) investment horizon


• The fund is suitable for SIP investors


• Lump sum investors can also invest in the fund if they have minimum 5 year investment horizon

Investors should consult with their financial advisors or mutual fund distributors if Nippon India Growth Midcap Fund is suitable for their investment needs.