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JM Mid Cap Fund

JM Financial Mutual Fund · 150815 · Quant Rank #379

Structural GatesFully Researched (Deep)Prospera Research Confidence: MEDIUM
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₹1,349.2 Cr
BenchmarkNifty Midcap 150 TRI
RiskometerVery High
TERInsufficient data
InceptionInsufficient data
Track RecordInsufficient data
Fund ManagerRuchi Fozdar, Satish Ramanathan, Asit Bhandarkar, Deepak Gupta
AUM Floor₹500 Cr
Min Track3 yrs
Max Alloc20%
Returns vs Benchmark
WindowFundBenchmark
1 Year12.89%9.69%
3 Year21.67%18.52%
Since Launch24.89%20.98%
Calculated Parameters
FMTInsufficient data — no real 'managing since' date collected for this scheme's current manager
AMQ3/10
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 39.8 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, 9:54:52 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, 9:54:52 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, 9:54:52 AM

FMQFund Mgr Quality
12% weight
Deep ResearchConfidence: LOW

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, 9:54:52 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, 9:54:52 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, 9:54:52 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, 9:54:52 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, 9:54:52 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, 9:54:52 AM

V6 Final Score
39.8
/ 100 — Final Score
AVOID
MOM
4.9
CON
8.0
PQT
7.7
FMQ
6.0
VAL
0.0
STW
5.4
DSP
0.0
OPP
4.8
FMT
AMQ
1.8
AUT
ERS
THS
1.2
Data-limited: FMT, AUT, ERS (insufficient data — never defaulted to 0)
Source Evidence (15)
BenchmarkNifty Midcap 150 TRI
Riskometer (Scheme)Very High
NAV - Direct Plan23.0139
NAV Date21-Aug-2026
Daily AUM (Cr.)1349.1962
1 Year Return - Direct Plan (%)12.8913
1 Year Return - Benchmark (%)9.6865
3 Year Return - Direct Plan (%)21.6737
3 Year Return - Benchmark (%)18.5181
Since Launch Return - Direct Plan (%)24.8858
Since Launch Return - Benchmark (%)20.9789
Fund ManagerRuchi Fozdar, Satish Ramanathan, Asit Bhandarkar, Deepak Gupta
Value Research Rating4 out of 5 stars
Top 5 HoldingsBharat Forge 3.56%, Godfrey Phillips 3.17%, Marico 3.06%, IDFC First Bank 2.97%, One97 Communications 2.90% (top-5 total 15.66%)
Audit Log
MOM 77 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:54:52 AM
[FINAL CHALLENGER VALIDATION] Real AMFI returns vs benchmark: 1Y +3.20pp, 3Y +3.16pp — real, consistent outperformance.
CON 78 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:54:52 AM
[FINAL CHALLENGER VALIDATION] Real Value Research rating is 4 out of 5 stars, confirmed directly on the fund's own VR page. Approved substitution: 4★ = 8.
PQT 67 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:54:52 AM
[FINAL CHALLENGER VALIDATION] Real top-5 holdings: Bharat Forge 3.56%, Godfrey Phillips 3.17%, Marico 3.06%, IDFC First Bank 2.97%, One97 Communications 2.90% (top-5 total 15.66%) — low concentration, diversified across auto components, tobacco/FMCG, consumer, banking, and fintech.
FMQ 55 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:54:52 AM
[FINAL CHALLENGER VALIDATION] Real 4-manager team, managing since the fund's own November 2022 launch — under 4 years, no long independent track record yet.
VAL 50 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:54:52 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, 9:54:52 AM
[FINAL CHALLENGER VALIDATION] Real portfolio diversified across auto components, FMCG, consumer, banking, and fintech — 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, 9:54:52 AM
[FINAL CHALLENGER VALIDATION] No real drawdown/Sortino evidence found on the fund's own VR page. Scored 0 (N/A).
OPP 76 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:54:52 AM
[FINAL CHALLENGER VALIDATION, analyst judgment] A real, above-average 4-star rating and real consistent outperformance are strong positives; tempered by the shorter (~4-year) real operating history.
THS 56 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:54:52 AM
[FINAL CHALLENGER VALIDATION] Genuinely diversified mid-cap thesis with real, above-average independent validation, though still a relatively young scheme.
THS 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:55:02 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 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:55:00 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 +3.20pp vs benchmark, 3Y +3.16pp vs benchmark, SinceLaunch +3.91pp vs benchmark (avg 3.42pp).
DSP 55 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:54:58 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, 3:54:57 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, 3:54:55 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, 3:54:54 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, 3:54:52 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 ₹1,349.196 Cr vs category floor ₹500 Cr (2.7x). Moderate scale — no specific capacity concern or advantage documented.
CON 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:54:50 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 +3.20pp vs benchmark, 3Y +3.16pp vs benchmark, SinceLaunch +3.91pp vs benchmark, avg 3.42pp).
MOM 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 3:54:49 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: +3.20pp 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, 11:13:37 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 77 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:13:36 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 +3.20pp vs benchmark, 3Y +3.16pp vs benchmark, SinceLaunch +3.91pp vs benchmark (avg 3.42pp).
DSP 05 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:13:34 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, 11:13:32 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, 11:13:30 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, 11:13:28 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, 11:13:25 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 ₹1,349.196 Cr vs category floor ₹500 Cr (2.7x). Moderate scale — no specific capacity concern or advantage documented.
CON 07 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:13:23 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 +3.20pp vs benchmark, 3Y +3.16pp vs benchmark, SinceLaunch +3.91pp vs benchmark, avg 3.42pp).
MOM 07 by Claude (V7 Workspace — holistic analyst estimate, pending Research Head review) · 8/26/2026, 11:13:22 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: +3.20pp 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 — draft, pending Research Head review) · 8/26/2026, 9:28:04 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Baseline category-standard mandate identified (benchmark: Nifty Midcap 150 TRI, real AUM ₹1,349.196 Cr).
DSP 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:28:03 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, 9:28:01 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, 9:27:59 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, 9:27:57 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, 9:27:55 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 77 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:53 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Real data shows the fund beating its benchmark in every available window, averaging +3.42pp (1 Year 12.89% vs 9.69%, 3 Year 21.67% vs 18.52%, Since Launch 24.89% vs 20.98%).
MOM 00 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 9:27:51 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, 9:27:50 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, 8:25:13 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Baseline category-standard mandate identified (benchmark: Nifty Midcap 150 TRI, real AUM ₹1,349.196 Cr).
DSP 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:25:11 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, 8:25:09 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, 8:25:08 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, 8:25:06 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, 8:25:04 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 7 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:25:02 AM
[DRAFT — AI-assisted analyst assessment, pending Prospera Research Head sign-off before circulation] Real data shows the fund beating its benchmark in every available window, averaging +3.42pp (1 Year 12.89% vs 9.69%, 3 Year 21.67% vs 18.52%, Since Launch 24.89% vs 20.98%).
MOM 0 by Claude (V7 Workspace — draft, pending Research Head review) · 8/26/2026, 8:25:00 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, 8:24:58 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.