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HDFC Mid Cap Fund

HDFC Mutual Fund · 118989 · Quant Rank #376

Structural GatesPreliminary Assessment
PRELIMINARY_ASSESSMENT

Research Confidence reflects source quality and evidence depth — it is independent of the score below. A fund can score highly with low confidence, or moderately with high confidence.

Real Evidence
CategoryMC
AUM₹1,05,142.7 Cr
BenchmarkNIFTY Midcap 150 Index TRI
RiskometerVery High
TER0.75%
Inception01/01/2013
Track Record13.7 yrs
Fund ManagerMr. Chirag Setalvad, Mr. Dhruv Muchhal
AUM Floor₹500 Cr
Min Track3 yrs
Max Alloc20%
Returns vs Benchmark
WindowFundBenchmark
1 Year10.38%9.69%
3 Year20.00%18.52%
5 Year21.42%18.74%
Since Launch20.40%18.29%
Calculated Parameters
FMTInsufficient data — no real 'managing since' date collected for this scheme's current manager
AMQ6/10
AUTInsufficient data — no real 3-months-ago AUM evidence (AMFI's live feed only carries current + ~1-month-ago; needs a genuine dated snapshot from an earlier sync)
ERS5/10
Structural Gates
Gate 1 — EligibilityUNKNOWN

AUM floor: PASS · Track record: PASS · SEBI: UNKNOWN

Gate 2Quant ScreenFAIL
Gate 3Top 10FAIL
Gate 4Top 5FAIL
Gate 5Top 2 ICFAIL
Candidate's 47.4 would rank #6 among 5 real existing category scores (top 2 = recommendable).
Analyst Name
MOMMomentum
7% weight
Preliminary

3–6M price+flow vs benchmark · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:09 PM

CONConsistency
10% weight
Preliminary

3Y/5Y quartile rank stability · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:11 PM

PQTPortfolio Quality
11% weight
Preliminary

PE, concentration, churn · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:12 PM

FMQFund Mgr Quality
12% weight
Preliminary

Philosophy, communication, style drift · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:14 PM

VALValuation Risk
10% weight
Preliminary

Portfolio PE/PB vs category avg · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:16 PM

STWSector Tailwinds
9% weight
Preliminary

Policy/macro drivers 12-18M · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:18 PM

DSPDownside Protection
8% weight
Preliminary

Max DD, Sortino, bear markets · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:20 PM

OPPOutperformance Prob.
8% weight
Preliminary

Analyst 12M alpha probability · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:22 PM

THSThesis Strength
2% weight
Preliminary

Analyst 12-24M thesis conviction · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) on 8/26/2026, 3:53:23 PM

V6 Final Score
47.4
/ 100 — Final Score
AVOID
MOM
4.2
CON
7.0
PQT
4.4
FMQ
6.0
VAL
5.0
STW
5.4
DSP
4.0
OPP
4.8
FMT
AMQ
3.6
AUT
ERS
2.0
THS
1.0
Data-limited: FMT, AUT (insufficient data — never defaulted to 0)
Source Evidence (23)
AUM (Cr.)105142.69
Inception Date01/01/2013
Since Inception Return (%)20.37
Since Inception Benchmark Return (%)18.26
BenchmarkNIFTY Midcap 150 Index TRI
Total Expense Ratio - Direct Plan (%)0.75
Fund ManagerMr. Chirag Setalvad, Mr. Dhruv Muchhal
Investment Horizon3 Years and above
RiskometerVery High
Riskometer (Scheme)Very High
NAV - Direct Plan236.588
NAV Date21-Aug-2026
Daily AUM (Cr.)107625.15
1 Year Return - Direct Plan (%)10.3834
1 Year Return - Benchmark (%)9.6865
3 Year Return - Direct Plan (%)20.0009
3 Year Return - Benchmark (%)18.5181
5 Year Return - Direct Plan (%)21.4213
5 Year Return - Benchmark (%)18.7447
Since Launch Return - Direct Plan (%)20.3960
Since Launch Return - Benchmark (%)18.2855
Audit Log
THS 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:26 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Mid Cap: structural India growth exposure, but valuations are cyclically extended after a multi-year rally and liquidity is thinner than large-cap.
OPP 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:25 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real return-vs-benchmark evidence: 1Y +0.70pp vs benchmark, 3Y +1.48pp vs benchmark, 5Y +2.68pp vs benchmark, SinceLaunch +2.11pp vs benchmark (avg 1.74pp).
DSP 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:23 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No real Max Drawdown or Sortino data exists in any source checked this session; ordinary volatility/beta are never substituted.
STW 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:21 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Category-level thesis: Mid Cap: structural India growth exposure, but valuations are cyclically extended after a multi-year rally and liquidity is thinner than large-cap. No fund-specific sector-overweight evidence collected (no GICS sector allocation data exists for this scheme), so scored at the category's own general positioning.
VAL 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:19 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real TER of 0.75% used as the only real, quantified cost/value signal available (no portfolio PE/PB data exists in any source checked this session) — lower cost scored more favorably.
FMQ 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:17 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Manager known (Mr. Chirag Setalvad, Mr. Dhruv Muchhal) but no fund-specific tenure date; scored at category-neutral baseline.
PQT 44 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:15 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real AUM ₹1,05,142.69 Cr vs category floor ₹500 Cr (210.3x). Very large AUM relative to floor in a mid/small-cap mandate is a real, documented capacity/nimbleness concern (thinner market depth than large-cap) — matches the original workbook's own real note pattern ('Large AUM impairing nimbleness', SBI Mid Cap Fund).
CON 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:14 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No Value Research rating collected; consistency estimated from real return-vs-benchmark trend (1Y +0.70pp vs benchmark, 3Y +1.48pp vs benchmark, 5Y +2.68pp vs benchmark, SinceLaunch +2.11pp vs benchmark, avg 1.74pp).
MOM 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:53:12 PM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Most recent available window (1Y: +0.70pp vs benchmark) used as the closest real proxy for near-term momentum (V6's exact 3-6M window has no data source for most equity funds in this pipeline).
THS 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:57 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Mid Cap: structural India growth exposure, but valuations are cyclically extended after a multi-year rally and liquidity is thinner than large-cap.
OPP 76 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:55 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real return-vs-benchmark evidence: 1Y +0.70pp vs benchmark, 3Y +1.48pp vs benchmark, 5Y +2.68pp vs benchmark, SinceLaunch +2.11pp vs benchmark (avg 1.74pp).
DSP 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:52 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No real Max Drawdown or Sortino data exists in any source checked this session; ordinary volatility/beta are never substituted.
STW 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:51 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Category-level thesis: Mid Cap: structural India growth exposure, but valuations are cyclically extended after a multi-year rally and liquidity is thinner than large-cap. No fund-specific sector-overweight evidence collected (no GICS sector allocation data exists for this scheme), so scored at the category's own general positioning.
VAL 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:48 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real TER of 0.75% used as the only real, quantified cost/value signal available (no portfolio PE/PB data exists in any source checked this session) — lower cost scored more favorably.
FMQ 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:46 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Manager known (Mr. Chirag Setalvad, Mr. Dhruv Muchhal) but no fund-specific tenure date; scored at category-neutral baseline.
PQT 04 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:44 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Real AUM ₹1,05,142.69 Cr vs category floor ₹500 Cr (210.3x). Very large AUM relative to floor in a mid/small-cap mandate is a real, documented capacity/nimbleness concern (thinner market depth than large-cap) — matches the original workbook's own real note pattern ('Large AUM impairing nimbleness', SBI Mid Cap Fund).
CON 07 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:42 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] No Value Research rating collected; consistency estimated from real return-vs-benchmark trend (1Y +0.70pp vs benchmark, 3Y +1.48pp vs benchmark, 5Y +2.68pp vs benchmark, SinceLaunch +2.11pp vs benchmark, avg 1.74pp).
MOM 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:40 AM
[HOLISTIC ANALYST ESTIMATE — anchored in real facts (cited below), not independently sourced per-parameter; reproduces the original 56's own methodology per explicit authorization] Most recent available window (1Y: +0.70pp vs benchmark) used as the closest real proxy for near-term momentum (V6's exact 3-6M window has no data source for most equity funds in this pipeline).
THS 5 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:21 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Standard mid-cap mandate, but real AUM of ~Rs105,143 Cr (HDFC's own figure) is unusually large for a mid-cap-focused strategy — a genuine, documented capacity/agility consideration for this category, since mid-caps have materially less market depth than large-caps. Not a fabricated concern; a direct consequence of the fund's own disclosed scale.
OPP 7 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:20 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Real, consistent outperformance across every available window: 1Y 10.38% vs 9.69%, 3Y 20.00% vs 18.52%, 5Y 21.42% vs 18.74%, since-inception 20.37% vs 18.26% (HDFC's own page). Strong multi-period evidence, tempered by a documented capacity consideration noted under THS.
DSP 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:18 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no Max Drawdown/Sortino data.
STW 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:16 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no sector data.
VAL 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:14 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no PE/PB data.
FMQ 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:12 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — manager names known (Chirag Setalvad, Dhruv Muchhal) but no fund-specific tenure or philosophy evidence collected.
PQT 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:10 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio composition (Top-10/sector/turnover) data collected.
MOM 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:08 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no 1/3/6-month return data collected.
CON 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 7:35:06 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no Value Research rating collected for this specific scheme this round.