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    Franklin India Mid Cap Fund

    Mid CapDirect and Regular plans, Growth and IDCW options

    Data as on 30-10-2026

    Franklin India Mid Cap Fund is a Mid Cap fund run by Franklin Templeton Mutual Fund. On 30-09-2026, it managed ₹12,156 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 13.4% a year and its Regular plan returned 12.6% a year. Its benchmark, Nifty Midcap 150 TRI, returned 13.8% a year over the same 3 years.

    NAV (Direct plan)
    ₹2,903.85
    ▼ 1.14%30-10-2026
    NAV (Regular plan)
    ₹2,557.59
    ▼ 1.14%30-10-2026
    Expense ratio
    1.14%Direct1.92%Regular
    Riskometer
    Not available
    Set by the fund house
    3 year return
    13.4%Direct12.6%Regular

    Franklin India Mid Cap Fund NAV Today

    NAV on 30-10-2026: Direct Plan Growth ₹2,903.85 (down 1.14% that day); Regular Plan Growth ₹2,557.59 (down 1.14% that day).

    Franklin India Mid Cap Fund Returns vs Nifty Midcap 150 TRI

    Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

    Trailing returns
    Period1M3M6M1Y3Y5Y10Y
    This fund (Direct)−4.32%−9.38%−3.37%−8.42%+13.45%+11.51%+13.22%
    This fund (Regular)−4.38%−9.56%−3.74%−9.12%+12.56%+10.61%+12.24%
    Nifty Midcap 150 TRI−3.69%−8.46%−3.95%−4.37%+13.82%+13.84%+15.65%
    Mid Cap average−3.36%−6.03%−0.14%−2.17%+14.75%+12.95%+14.07%
    Best in Mid Cap−0.88%−2.09%+6.81%+9.56%+21.77%+17.38%+18.35%
    Worst in Mid Cap−5.08%−10.11%−5.44%−14.14%+8.47%+9.04%+7.45%
    Rank in Mid Cap27/3432/3329/3329/3120/2915/2210/17

    Category rows compare the Direct plans of 34 Mid Cap funds. Rank 1 is the highest return.

    Franklin India Mid Cap Fund Year-wise Returns

    Return of each calendar year
    YearDirectRegularNifty Midcap 150 TRI
    2026to date−8.29%−8.87%−4.97%
    2025+2.42%+1.61%+5.98%
    2024+32.89%+31.83%+24.46%
    2023+37.97%+36.75%+44.61%
    2022+3.00%+2.17%+3.91%
    2021+33.67%+32.62%+48.16%

    Franklin India Mid Cap Fund Rolling Returns

    The return of every holding period in the fund's history, not only the one that ends today

    Rolling returns

    Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 2,667 periods, one for each trading day from 01-01-2016 to 30-10-2026.

    −10%0%10%20%30%40%50%
    Nov 2013
    to
    Nov 2016
    Sept 2015
    to
    Sept 2018
    Jul 2017
    to
    Jul 2020
    May 2019
    to
    May 2022
    Mar 2021
    to
    Mar 2024
    Dec 2022
    to
    Dec 2025
    Franklin India Mid Cap Fund (Direct)Nifty Midcap 150 TRI

    Every holding period at a glance

    PeriodPeriodsMedianLowestHighestWith a lossBenchmark medianBeat benchmark
    1 year3,15514.1%−31.5%99.6%18%13.0%30%
    2 years2,91319.9%−16.8%56.8%8%18.8%33%
    3 years2,66719.3%−7.5%42.6%4%22.1%19%
    5 years2,17415.9%0.5%32.4%0%19.3%0%
    7 years1,68516.5%10.5%21.9%0%19.6%0%
    10 years94117.4%13.0%21.8%0%18.0%0%

    Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty Midcap 150 TRI over the same days. Past returns do not promise future returns.

    Franklin India Mid Cap Fund Risk

    How much it swings, and the falls an investor had to sit through

    Risk and return

    MeasureFranklin India Mid Cap Fund (Direct)This fundNifty Midcap 150 TRI
    Return (CAGR)+13.45%+13.82%
    Standard deviation15.52%17.08%
    Sharpe ratio0.480.46
    Sortino ratio0.650.61
    Maximum drawdown−18.3% (28-02-2025)−20.9% (28-02-2025)
    Beta0.891.00
    Alpha+0.53%0.00%

    From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

    Drawdowns

    How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.

    −50%−40%−30%−20%−10%0%
    2014201620182020202220242026
    Franklin India Mid Cap Fund (Direct)Nifty Midcap 150 TRI
    Worst fallHigh before itBottomBack at the highTime to climb backBelow its high today
    Franklin India Mid Cap Fund (Direct)−36.6%23-01-201823-03-202013-11-20208 months−11.4%
    Nifty Midcap 150 TRI−43.1%08-01-201823-03-202023-11-20208 months−10.5%

    From the Direct plan's daily NAV since 01-01-2013, adjusted for unit splits, and Nifty Midcap 150 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

    Franklin India Mid Cap Fund vs Other Mid Cap Funds

    The five Mid Cap funds with the best three year return, and this fund. Direct plans.

    Fund nameRankAUM (Cr)Exp. ratio1Y return3Y return3Y alpha3Y beta3Y Sharpe3Y Sortino
    Invesco India Mid cap Fund1/2915,7490.77%−0.48%+21.77%+8.73%0.930.921.29Compare
    HSBC Midcap Fund2/2916,8001.11%+9.56%+21.64%+7.52%1.040.831.12Compare
    WhiteOak Capital Mid Cap Fund3/297,5400.93%+3.63%+20.42%+7.68%0.900.911.24Compare
    ICICI Prudential Mid Cap Fund4/297,9611.10%+0.90%+19.38%+5.47%1.010.751.01Compare
    Edelweiss Mid Cap Fund5/2919,2300.68%−1.99%+18.99%+5.58%0.950.781.06Compare
    Franklin India Mid Cap Fund20/2912,1561.14%−8.42%+13.45%+0.53%0.890.480.65

    AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

    Franklin India Mid Cap Fund Expense Ratio and Costs

    What each plan charges a year, in force from 17-10-2026

    PlanBase expense ratioBrokerageTransaction costsLevies and GSTTotal expense ratioMid Cap medianCost rank (1 = cheapest)
    Direct0.81%0.06%0.00%0.27%1.14%0.95%25/34
    Regular1.48%0.06%0.00%0.38%1.92%2.02%12/34

    The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Mid Cap funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

    Direct vs Regular: what the gap cost

    Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

    Over the lastRegularDirectDirect earned more by₹1 lakh became (Regular)₹1 lakh became (Direct)
    1 year−9.12%−8.42%0.70%₹90,880₹91,580
    3 years12.56%13.45%0.89% a year₹1,42,611₹1,46,020
    5 years10.61%11.51%0.90% a year₹1,65,566₹1,72,413
    10 years12.24%13.22%0.98% a year₹3,17,305₹3,46,124

    Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

    Franklin India Mid Cap Fund SIP Calculator

    What a one-time or monthly investment in this fund would be worth today, from its own NAV history

    Growth of an investment

    Step up each year
    PeriodFor

    ₹10,000 on the first trading day of every month, from 01-01-2013 to 30-10-2026: 166 instalments, ₹16,60,000 in all.

    InvestmentInvestedValue nowGainReturn a year
    Direct planFranklin India Mid Cap Fund (Direct) ₹16,60,000 ₹52,86,016 ₹36,26,016 15.4%
    Regular planFranklin India Mid Cap Fund (Regular) ₹16,60,000 ₹48,64,070 ₹32,04,070 14.4%
    Category averageCategory average, 34 Mid Cap funds ₹16,60,000 ₹59,73,885 ₹43,13,885 17.0%
    ₹0₹20.0 L₹40.0 L₹60.0 L₹80.0 L
    2014201620182020202220242026
    Direct planFranklin India Mid Cap Fund (Direct)Regular planFranklin India Mid Cap Fund (Regular)Category averageCategory average, 34 Mid Cap fundsAmount invested

    From each plan's published NAV (Growth option) and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.

    Franklin India Mid Cap Fund Asset Allocation

    Asset allocation as on 30-09-2026

    What the fund holds

    98.1%Equity

    AssetFundCategory
    Equity98.1%95.4%
    Cash and others1.7%4.0%
    Debt0.2%0.6%

    Market cap of stocks

    Market capFundCategory
    Large Cap9.8%11.8%
    Mid Cap66.8%66.9%
    Small Cap20.1%15.1%
    Not on AMFI's list1.3%1.7%

    Share of the whole fund. Category: the average of the Mid Cap funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

    Franklin India Mid Cap Fund Sector Allocation

    Sector allocation of the fund's stocks as on 30-09-2026

    Largest sectors

    1. Banks9.4%

    2. Consumer Durables7.1%

    3. Industrial Products6.5%

    4. Pharmaceuticals & Biotechnology6.1%

    5. Finance6.0%

    6. Retailing5.8%

    7. Electrical Equipment5.2%

    8. Auto Components5.0%

    9. Capital Markets4.5%

    10. IT - Software4.1%

    The ten largest of 28 sectors. The other 18 add up to 38.3%.

    Sector changes

    SectorJuly 2026August 2026September 2026Change
    Banks10.5%9.9%9.4%−1.1%
    Consumer Durables8.5%7.5%7.1%−1.4%
    Industrial Products4.4%5.8%6.5%+2.1%
    Pharmaceuticals & Biotechnology6.4%6.0%6.1%−0.3%
    Finance5.8%6.0%6.0%+0.2%

    Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

    Franklin India Mid Cap Fund Portfolio Holdings

    As on 30-09-2026 · 79 holdings · from the fund house's monthly portfolio

    HoldingsSector / RatingWeight%Holdings trend1M change
    Kalyan Jewellers India LtdConsumer Durables2.87%0.0%
    Biocon LtdPharmaceuticals & Biotechnology2.47%0.0%
    Federal Bank LtdBanks2.39%0.0%
    One 97 Communications LtdFinancial Technology (Fintech)2.29%+43.8%
    IDFC First Bank LtdBanks2.20%−10.8%
    APL Apollo Tubes LtdIndustrial Products2.16%0.0%
    Mankind Pharma LtdPharmaceuticals & Biotechnology2.12%0.0%
    Prestige Estates Projects LtdRealty1.99%0.0%
    Balkrishna Industries LtdAuto Components1.96%0.0%
    Coforge LtdIT - Software1.91%−7.0%

    Franklin India Mid Cap Fund Stocks Bought and Sold

    All changes are between August 2026 and September 2026

    More
    Stocks bought and sold in September 2026
    IDFC First Bank LtdReduced−10.8%2.20%
    PB Fintech LtdAdded+20.9%1.77%
    One 97 Communications LtdAdded+43.8%2.29%
    Coforge LtdReduced−7.0%1.91%
    Swiggy LtdAdded+12.1%1.90%
    Dixon Technologies (India) LtdReduced−6.9%1.46%
    IPCA Laboratories LtdReduced−4.9%1.55%
    Tube Investments of India LtdReduced−0.1%1.40%
    Astral LtdAdded+12.6%1.52%
    State Bank of IndiaAdded+20.5%1.51%

    A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

    What Franklin India Mid Cap Fund bought and sold

    Franklin India Mid Cap Fund Portfolio Overlap

    Funds with the most similar portfolios, across every fund house and category

    FundOverlapHoldings in common
    Kotak Nifty Midcap 150 Index FundIndex · Kotak Mahindra38.8%54Compare
    Nippon India Nifty Midcap 150 Index FundIndex · Nippon India38.6%54Compare
    Nippon India ETF Nifty Midcap 150ETF · Nippon India38.6%54Compare
    JioBlackRock Nifty Midcap 150 Index FundIndex · Jio BlackRock38.5%54Compare
    Groww Nifty Midcap 150 Index FundIndex · Groww38.5%54Compare
    Navi Nifty Midcap 150 Index fundIndex · Navi38.4%54Compare
    UTI Nifty Midcap 150 Index FundIndex · UTI38.4%54Compare
    Mirae Asset Nifty Midcap 150 ETFETF · Mirae Asset38.4%54Compare

    Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

    Franklin India Mid Cap Fund Overview

    Fund facts from the scheme summary document, as on 16-10-2026

    Expense ratio (Direct)
    1.14%
    Expense ratio (Regular)
    1.92%
    Category
    Mid Cap
    Risk
    Not available
    Benchmark
    Nifty Midcap 150 TRI
    Launch date
    01-12-1993
    Minimum investment
    5000/1
    Minimum additional investment
    1000/1
    AUM
    ₹12,155.57 Cr (30-09-2026)
    Lock in
    None
    Scheme code (Direct)
    118533
    ISIN (Direct)
    INF090I01FH9
    Scheme code (Regular)
    100473
    ISIN (Regular)
    INF090I01809
    NAV history
    From 01-01-2013, 13.8 years
    Exit load
    Exit load of 1% if redeemed within 1 year

    Tax on Franklin India Mid Cap Fund returns

    • Franklin India Mid Cap Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
    • Units sold within 1 year: the gain is taxed at 20%.
    • Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
    • IDCW (dividend) payouts are added to your income and taxed at your slab rate.
    • A stamp duty of 0.005% is deducted when you invest.

    Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

    All plans and options

    PlanOptionNAVAs on
    directGrowth₹2,903.849230-10-2026
    directIDCW₹95.497730-10-2026
    regularGrowth₹2,557.591430-10-2026
    regularIDCW₹78.665430-10-2026

    About Franklin India Mid Cap Fund

    Franklin India Mid Cap Fund is a mutual fund from Franklin Templeton Mutual Fund. Its category is Mid Cap. It was launched on 01-12-1993. Its benchmark is Nifty Midcap 150 TRI. At the end of September 2026 it held 79 securities.

    Fund Manager

    • Janakiraman Rengaraju

      Fund manager of Franklin India Mid Cap Fund, since 01-02-2011

    • Akhil Kalluri

      Fund manager of Franklin India Mid Cap Fund, since 07-02-2022

    • Sandeep Manam

      Fund manager of Franklin India Mid Cap Fund, since 18-10-2021

    See all funds of Franklin Templeton Mutual Fund

    AUM change

    September 2026
    ₹12,155.57 Cr
    −6.87% from August 2026
    August 2026
    ₹13,052.40 Cr
    +1.41% from July 2026
    July 2026
    ₹12,870.79 Cr
    +3.05% from June 2026

    AUM moves with money invested or taken out, and with the value of what the fund holds.

    Compare Franklin India Mid Cap Fund with Other Funds

    Returns, risk, costs and the stocks they share, side by side

    Frequently Asked Questions for Franklin India Mid Cap Fund

    What is the current NAV of Franklin India Mid Cap Fund?

    The Direct plan NAV is ₹2,903.8492. The Regular plan NAV is ₹2,557.5914, as on 30-10-2026.

    What are the returns of Franklin India Mid Cap Fund?

    The Direct plan returned −8.42% in 1 year, +13.45% a year over 3 years, +11.51% a year over 5 years. The Regular plan returned −9.12% in 1 year, +12.56% a year over 3 years, +10.61% a year over 5 years. These figures are as on 30-10-2026.

    What is the expense ratio of Franklin India Mid Cap Fund?

    The Direct plan charges 1.14% a year. The Regular plan charges 1.92% a year. This is the figure the fund house reported to AMFI, in force from 17-10-2026.

    What is the AUM of Franklin India Mid Cap Fund?

    Franklin India Mid Cap Fund managed ₹12,155.57 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

    What are the top holdings of Franklin India Mid Cap Fund?

    At the end of September 2026 the largest holdings were KALYANKJIL (2.87%), BIOCON (2.47%), FEDERALBNK (2.39%), PAYTM (2.29%), IDFCFIRSTB (2.20%). The fund held 79 securities in all.

    What did Franklin India Mid Cap Fund buy and sell in September 2026?

    It bought 2 new stocks: Honasa Consumer Ltd, Ge Vernova T&D India Ltd. It sold out of 3: HDFC Bank Ltd, Procter & Gamble Hygiene and Health Care Ltd, Siemens Energy India ltd. It added shares in 10. It reduced 11.

    How do I invest in Franklin India Mid Cap Fund?

    Through Franklin Templeton Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least 5000/1. You can invest once or through a monthly SIP.

    Who is the fund manager of Franklin India Mid Cap Fund?

    Janakiraman Rengaraju (since 01-02-2011), Akhil Kalluri (since 07-02-2022), Sandeep Manam (since 18-10-2021).

    Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

    This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.

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