Home Mutual Fund Tata Massive & Mid Cap Fund Efficiency Assessment

Tata Massive & Mid Cap Fund Efficiency Assessment

Tata Massive & Mid Cap Fund Efficiency Assessment

This version of the fund efficiency report seems at Tata Massive & Mid Cap Fund. Though launched in March 1993 as Tata Fairness Alternatives Fund, the fund presently solely has an AUM of Rs. 3641 Crores.

After the SEBI MF categorization guidelines kicked in, Tata AMC merged Tata Fairness Alternatives Fund with Tata Dividend Yield Fund and renamed it Tata Massive and Mid cap Fund (from Might 2018). Additional, from Jan 2020, the fund’s benchmark was modified from S&P BSE 200 TRI to Nifty LargeMidcap 250 TRI.

Disclaimer: Fund efficiency stories current return and threat evaluation of a fund with consultant benchmarks and never funding suggestions. It have to be expressly understood that the information under mirror solely previous efficiency and is under no circumstances a sign of future efficiency. Our funding suggestions are Handpicked Listing of Mutual Funds (PlumbLine).

As one can see from the market cap allocation historical past, the fund doesn’t draw back from holding 30-40% of mid cap shares now and again.

Market cap allocation history of Tata Large & Mid Cap Fund
Market cap allocation historical past of Tata Massive & Mid Cap Fund

We learn how constantly the Tata Massive and Midcap Fund has carried out wrt Nitfy 200 index and Nify Largemidcap 250 TRI. We are going to use three metrics to investigate efficiency consistency versus benchmarks. Evaluation corresponding to this may be discovered for 350+ fairness funds in our month-to-month fairness mutual fund screener.

1 Rolling return outperformance consistency: the fund returns are in contrast with class benchmark returns over each potential  3Y,4Y, and 5Y interval from 1st Jan 2013. Increased the outperformance consistency, the higher. Suppose 876 fund returns have been in contrast with 876 benchmark returns, and the fund has crushed the benchmark 675 occasions. The consistency rating will probably be 675/876 ~ 77%.

MetricN200TRINifty Largemidcap 250 TRI
No of rolling return entries Index (3 Years)17301742
No of rolling return entries Fund (3 years)17301742
No of occasions the fund has outperformed the index (3 years)1279814
rolling return outperformance Consistency Rating (3 years)74%47%
No of rolling return entries Index (4 Years)14981498
No of rolling return entries Fund (4 years)14981498
No of occasions the fund has outperformed the index (4 years)1221603
rolling return outperformance Consistency Rating (4 years)82%40%
No of rolling return entries Index (5 Years)12521252
No of rolling return entries Fund (5 years)12521252
No of occasions the fund has outperformed the index (5 years)975464
rolling return outperformance Consistency Rating (5 years)78%37%

Sadly, Tata Massive and Midcap Fund has constantly underperformed its personal alternative of benchmark Nifty Largemidcap 250 TRI.

2 Upside efficiency consistency over each potential 1Y,2Y,3Y,4Y, 5Y: Increased the higher. A rating of 70% means, 7 out of 10 occasions, the Fund carried out higher than the class benchmark when the benchmark was transferring upIt is a measure of reward. It’s computed from rolling upside seize information (see hyperlink under).

MetricN200TRINifty Largemidcap 250 TRI
upside efficiency consistency (3 years)29%2%
upside efficiency consistency (4 years)24%0%
upside efficiency consistency (5 years)10%0%

The shortage of upside efficiency is typical in lots of funds.

3 Draw back efficiency consistency over each potential 1Y, 2Y, 3Y,4Y, and 5Y. Increased, the higher. A rating of 60% means 6 out of 10 occasions, the Fund carried out higher than the class benchmark when the benchmark was transferring downIt is a measure of threat safety. It’s computed from rolling draw back seize information. Learn extra: An introduction to Draw back and Upside Seize Ratios.

MetricN200TRINifty Largemidcap 250 TRI
draw back safety consistency (3 years)100%91%
draw back safety consistency (4 years)100%96%
draw back safety consistency (5 years)100%100%

The draw back efficiency is there, however meaning little if the fund doesn’t beat the benchmark it most well-liked over a standard capitalization-weighted index just like the BSE 200 or Nifty 200. The Nifty Largemidcap 20 has 50% of huge cap shares and 50% of mid cap shares. So when the mid cap shares surge, it could be tough for giant and mid-cap funds to beat it. On the similar time, such funds would fall decrease than the index.

Sadly, we can not deliver ourselves to advocate Tata Massive and Midcap Fund. The identical is true for a lot of different funds within the class as properly: Can I take advantage of a big and mid cap fund as an alternative of an index fund?

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