Nippon India Mutual Fund · Direct Growth · SEBI Category: Mid Cap
Nippon India Growth Fund is one of India's oldest mid cap mutual funds with a history stretching back to October 1995 — nearly 30 years of continuous operation. Originally a multi-cap fund, it was recategorised as a mid cap fund post SEBI's 2018 categorisation exercise. The fund has survived and compounded through the dotcom bust, the 2008 global financial crisis, the 2020 pandemic crash and multiple other corrections.
The fund's investment approach is growth-oriented — it seeks companies with above-average earnings growth potential within the mid cap universe. Its nearly three-decade track record means it has one of the longest history periods for drawdown analysis and rolling return evaluation. The fund was temporarily closed to lump sum investments during strong market phases due to deployment constraints.
Manish Gunwani is CIO — Equity at Nippon India Mutual Fund and co-manages the Nippon India Growth Fund alongside Tejas Sheth. Gunwani is known for a research-intensive, bottom-up approach to mid cap investing with a willingness to take concentrated bets in high-conviction ideas. He brings extensive experience in equity research and portfolio management across multiple market cycles.
For current co-manager details and full biography, refer to the latest Nippon India Mutual Fund factsheet on AMFI or the AMC website.
Informational points to help you form your own view — not judgements or recommendations.
Live data. Current fund highlighted. Click any fund name for full analysis.
| Fund | NAV | AAUM | 1Y Return | 3Y CAGR | 5Y CAGR | Sharpe (3Y) |
|---|---|---|---|---|---|---|
| HDFC Mid-Cap Opportunities Fund | ₹219.94 | ₹90.4K Cr Jan–Mar 2026 | +5.5% | +22.1% p.a. | +20.7% p.a. | 1.19 |
| Nippon India Growth Fund ▲ | ₹4,781.46 | ₹40.7K Cr Jan–Mar 2026 | +7.3% | +23.8% p.a. | +21.6% p.a. | 1.20 |
| Kotak Emerging Equity Fund | ₹162.15 | ₹59.2K Cr Jan–Mar 2026 | +7.8% | +21.1% p.a. | +18.8% p.a. | 1.05 |
| Axis Midcap Fund | ₹135.29 | ₹30.8K Cr Jan–Mar 2026 | +5.1% | +18.3% p.a. | +15.8% p.a. | 0.90 |
| SBI Magnum Midcap Fund | ₹261.72 | ₹22.1K Cr Jan–Mar 2026 | +0.9% | +14.3% p.a. | +16.4% p.a. | 0.66 |
Calculated from 2,566 daily NAV records in RightAdvise DB. Last calculated: Jun 2026.
1M / 3M / 6M / 1Y — simple point-to-point return · 3Y / 5Y / 10Y — CAGR (compounded annual growth rate)
Based on all rolling windows in full NAV history. Dates show the start and end of each period.
Jan 1 to Dec 31 each year. Simple point-to-point — not CAGR.
Rolling returns show performance across every possible investment start date — not one cherry-picked number. Learn more →
How much the fund fell from its peak NAV — what investors actually experience during crashes. Calculated from full NAV history.
Calculated from actual NAV data. "Pre-inception" means the fund didn't exist during that period.
Calculated from 3 years of daily NAV — industry standard. Risk-free rate: 6.5% p.a. Last updated: Jun 2026. What do these mean? →
Our portfolio holdings page shows every stock the fund owns, sector allocation, and month-over-month changes — from official AMC disclosures.
See how Nippon India Growth Mid Cap FundGrowth PlanOption ranks against other Mid Cap funds on returns, drawdown, Sharpe ratio and AAUM — side by side.
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