A Study on Performance Consistency of Selected Mid-Cap Mutual Funds: A Risk-Adjusted and Rolling Returns Approach
A Study on Performance Consistency of Selected Mid-Cap Mutual Funds: A Risk-Adjusted and Rolling Returns Approach
Ms. S.V. Keerthana1, Mrs. Shireen fathima .S2
1Student, Department of MBA, Panimalar Engineering College, Chennai – 600123
2Assistant Professor, Department of MBA, Panimalar Engineering College,
Chennai - 600123
ABSTRACT:This study evaluates the performance consistency of selected Indian mid-cap mutual funds over the period April 2020 to March 2025 using risk-adjusted measures and rolling returns. The analysis covers five funds: DSP Midcap Fund, Invesco India Midcap Fund, Nippon India Growth Fund, HDFC Mid- Cap Fund, and Motilal Oswal Midcap Fund. Key metrics such as Sharpe Ratio, Treynor Ratio, Jensen’s Alpha, and rolling returns are used to assess return efficiency and stability. The findings show that HDFC Mid Cap Fund performs best in risk-adjusted terms, while Nippon India Growth Fund demonstrates strong long-term consistency. However, all funds underperform the benchmark (NIFTY Midcap 150). The study highlights the importance of considering risk and consistency alongside returns.KEYWORDS: Mutual Funds, Mid-Cap Funds, Risk-Adjusted Performance, Rolling Returns