Like mutual funds, mid cap funds offered by Unit Linked Insurance Plans (ULIPs) have also shown a strong rally during the past years after the breakout of the COVID pandemic. Most of the ULIP midcap funds have given triple digit returns during this period and made their policy holders rich. Presently, there are 20 midcap funds offered by Life Insurance which have given stellar returns during this period. However, it is to be noted that most of the MF Midcap indices have outperformed their benchmark indices during the last 2 years. On the other hand, there have been many ULIP midcap funds which have underperformed their benchmark indices. Buy and hold strategy is believed to be responsible for this underperformance. Apart from this, all ULIP midcap funds adopted a defensive strategy to deal with the corona epidemic. Here we are giving a list of 10 ULIP midcap funds that have given 208 per cent returns since the March 2020 low. Source: Life Insurance website and ACEMF.
PNB MetLife midcap fundIn March 2022, it had a corpus of Rs 22 crore. This scheme was launched in March 2018. This fund is a chart topper based on the performance of the last 25 months. The top 3 preferred sectors of the fund are Financial & Insurance (16%), Software (6.7%) and Chemical (5.9%).
Future Generali Life-Future Midcap FundThe corpus of this fund was Rs 31 crore as of March 2022. Banking & Financial (32%), Metals (9.3%), Chemical (7.3%) are the preferred sectors of this fund.
Canara HSBC OBC Life-UL Emerging Leaders Eq FundThe corpus of this fund as of March 2022 was Rs 301 crore. Banking & Financial (11.8%), Software (9.7%), Chemical (9.2%) are the preferred sectors of this fund.
Reliance Life- Midcap Fund 2 : The corpus of this fund as of March 2022 was Rs 45 crore. Banking & Insurance (19.8%), Infrastructure (9.3%), Software (6.7%) are the preferred sectors of this fund.
Max LifeThe corpus of this fund was Rs 1,608 crore as of March 2022. Financial & Insurance (16%), Chemical (11%), Software (12%) are the preferred sectors of this fund.
Aditya Birla Sun LifeThe corpus of this fund as of March 2022 was Rs 2,549 crore. Pharma (10.4%), Auto (9.5%), Financial Services (8.9%) are the preferred sectors of the fund.
AEGON LifeThe corpus of this fund was Rs 183 crore as of March 2022. Infrastructure (9%), Chemical (9%), Financial Services (13%) are the preferred sectors of this fund.
Edelwiess Tokio LifeAs of March 2022, the corpus of this fund was Rs 280 crore. Software (8%), Chemical (8.8%), Financial and Insurance (16.1%) are the preferred sectors of the fund.
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Tata AIA LifeThe corpus of this fund as of March 2022 was Rs 8,820 crore. Manufacturing of electronic equipment (8.1%), software (6.7%), financial services (20.3%) are the preferred sectors of the fund.
Bajaj Allianz LifeThe corpus of this fund was Rs 469 crore as of March 2022. Manufacturing of electronic equipment (8%), software (7.9%), financial services (18.1%) are the preferred sectors of the fund.