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BANDHAN MID CAP FUND

Bandhan Mutual Fund · 150404 · Quant Rank #372

Structural GatesFully Researched (Deep)Prospera Research Confidence: HIGH
ANALYST_REVIEWED

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₹2,526.1 Cr
BenchmarkBSE Midcap 150 TRI
RiskometerVery High
TERInsufficient data
InceptionInsufficient data
Track RecordInsufficient data
Fund ManagerHarshal Joshi and Ritu Modi
AUM Floor₹500 Cr
Min Track3 yrs
Max Alloc20%
Returns vs Benchmark
WindowFundBenchmark
1 Year11.61%8.83%
3 Year20.12%18.08%
Since Launch19.78%18.78%
Calculated Parameters
FMT4/10
AMQ5/10
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)
ERSInsufficient data — no TER evidence collected for this scheme
Structural Gates
Gate 1 — EligibilityUNKNOWN

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

Gate 2Quant ScreenFAIL
Gate 3Top 10FAIL
Gate 4Top 5FAIL
Gate 5Top 2 ICFAIL
Candidate's 43.2 would rank #6 among 5 real existing category scores (top 2 = recommendable).
Analyst Name
MOMMomentum
7% weight
Deep ResearchConfidence: HIGH

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

CONConsistency
10% weight
Deep ResearchConfidence: HIGH

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

PQTPortfolio Quality
11% weight
Deep ResearchConfidence: MEDIUM

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

FMQFund Mgr Quality
12% weight
Deep ResearchConfidence: MEDIUM

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

VALValuation Risk
10% weight
Deep Research

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

STWSector Tailwinds
9% weight
Deep ResearchConfidence: MEDIUM

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

DSPDownside Protection
8% weight
Deep Research

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

OPPOutperformance Prob.
8% weight
Deep ResearchConfidence: MEDIUM

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

THSThesis Strength
2% weight
Deep ResearchConfidence: MEDIUM

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

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:57:42 AM

V6 Final Score
43.2
/ 100 — Final Score
AVOID
MOM
4.9
CON
6.0
PQT
7.7
FMQ
7.2
VAL
0.0
STW
5.4
DSP
0.0
OPP
4.8
FMT
3.2
AMQ
3.0
AUT
ERS
THS
1.0
Data-limited: AUT, ERS (insufficient data — never defaulted to 0)
Source Evidence (16)
BenchmarkBSE Midcap 150 TRI
Riskometer (Scheme)Very High
NAV - Direct Plan20.626
NAV Date21-Aug-2026
Daily AUM (Cr.)2526.1428
1 Year Return - Direct Plan (%)11.6065
3 Year Return - Direct Plan (%)20.1154
Since Launch Return - Direct Plan (%)19.7813
1 Year Return - Benchmark (%)8.8343
3 Year Return - Benchmark (%)18.0844
Since Launch Return - Benchmark (%)18.7816
Fund ManagerHarshal Joshi and Ritu Modi
Fund Manager - Managing SinceAugust 18, 2022
Value Research Rating3 out of 5 stars
Top 5 HoldingsThe Federal Bank 3.58%, GE Vernova T&D 3.43%, Apar Industries 3.07%, Fortis Healthcare 2.73%, Ipca Laboratories 2.48% (top-5 total 15.29%)
Audit Log
MOM 77 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION] Real AMFI returns vs benchmark: 1Y +2.77pp, 3Y +2.03pp — real, consistent outperformance.
CON 76 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION] Real Value Research rating is 3 out of 5 stars, confirmed directly on the fund's own VR page. Approved substitution: 3★ = 6.
PQT 67 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION] Real top-5 holdings: The Federal Bank 3.58%, GE Vernova T&D 3.43%, Apar Industries 3.07%, Fortis Healthcare 2.73%, Ipca Laboratories 2.48% (top-5 total 15.29%) — low concentration, diversified across banking, power equipment, industrial, healthcare, and pharma.
FMQ 56 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION] Real managers: Harshal Joshi and Ritu Modi, managing since August 18, 2022 — a real, moderate tenure (~4 years).
VAL 50 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION] No PE/PB evidence found on the fund's own VR page. Scored 0 (N/A).
STW 66 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION] Real portfolio diversified across banking, power equipment, industrial, healthcare, and pharma — a genuine, currently-relevant broad mid-cap exposure.
DSP 50 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION] No real drawdown/Sortino evidence found on the fund's own VR page. Scored 0 (N/A).
OPP 66 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION, analyst judgment] A real, above-average 3-star rating and real consistent outperformance support a moderately favorable forward view.
THS 55 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:57:42 AM
[FINAL CHALLENGER VALIDATION] Genuinely diversified mid-cap thesis with real, above-average independent validation.
THS 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:52:20 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 56 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:52:18 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 +2.77pp vs benchmark, 3Y +2.03pp vs benchmark, SinceLaunch +1.00pp vs benchmark (avg 1.93pp).
DSP 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:52:17 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] 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, 3:52:15 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] 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, 3:52:14 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 real TER data collected; scored at category-neutral baseline (no portfolio PE/PB data exists in any source checked this session).
FMQ 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:52:12 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] No manager identity evidence collected; scored at category-neutral baseline.
PQT 66 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:52:10 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 ₹2,526.143 Cr vs category floor ₹500 Cr (5.1x). Moderate scale — no specific capacity concern or advantage documented.
CON 57 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:52:08 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 +2.77pp vs benchmark, 3Y +2.03pp vs benchmark, SinceLaunch +1.00pp vs benchmark, avg 1.93pp).
MOM 57 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:52:06 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: +2.77pp 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, 11:12:17 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 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:15 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 return-vs-benchmark data available; scored at category-neutral baseline.
DSP 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:13 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, 11:12:11 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, 11:12:10 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 TER data collected; scored at category-neutral baseline (no portfolio PE/PB data exists in any source checked this session).
FMQ 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:08 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 manager identity evidence collected; scored at category-neutral baseline.
PQT 06 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:05 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 ₹2,526.143 Cr vs category floor ₹500 Cr (5.1x). Moderate scale — no specific capacity concern or advantage documented.
CON 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:03 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 return-vs-benchmark data or Value Research rating available; scored at category-neutral baseline (matches the original workbook's own practice of never leaving a parameter blank).
MOM 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:12:01 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 return-vs-benchmark data available; scored at category-neutral baseline.
THS 55 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:28 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Baseline category-standard mandate identified (benchmark: BSE Midcap 150 TRI, real AUM ₹2,526.143 Cr).
DSP 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:26 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real Max Drawdown or Sortino Ratio data collected for this scheme; ordinary volatility/beta are not used as a substitute.
STW 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:24 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real sector-allocation data collected for this scheme to support a forward sector-tailwind judgment.
VAL 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:23 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio PE/PB data collected for this scheme from any real source.
FMQ 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:21 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no manager identity or tenure evidence collected for this scheme.
PQT 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:19 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio composition data (Top-10 holdings, sector concentration, or turnover) collected for this scheme.
OPP 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:17 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real fund-vs-benchmark return data collected for any window for this scheme.
MOM 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:15 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real 1/3/6-month return data collected for this scheme (V6's stated 3-6M momentum window has no evidence source for most funds in this pipeline).
CON 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:13 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no Value Research rating collected for this scheme this round.
THS 5 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:37 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Baseline category-standard mandate identified (benchmark: BSE Midcap 150 TRI, real AUM ₹2,526.143 Cr).
DSP 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:35 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real Max Drawdown or Sortino Ratio data collected for this scheme; ordinary volatility/beta are not used as a substitute.
STW 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:34 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real sector-allocation data collected for this scheme to support a forward sector-tailwind judgment.
VAL 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:32 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio PE/PB data collected for this scheme from any real source.
FMQ 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:30 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no manager identity or tenure evidence collected for this scheme.
PQT 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:28 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no portfolio composition data (Top-10 holdings, sector concentration, or turnover) collected for this scheme.
OPP 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:26 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real fund-vs-benchmark return data collected for any window for this scheme.
MOM 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:24 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no real 1/3/6-month return data collected for this scheme (V6's stated 3-6M momentum window has no evidence source for most funds in this pipeline).
CON 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:24:22 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] N/A — no Value Research rating collected for this scheme this round.