Invesco India Midcap Fund has emerged as the best-performing midcap fund over the past decade, delivering a 426% return while building assets under management of about ₹16,000 crore. Its performance has been driven by a long-term, earnings-focused approach that looks beyond near-term valuation multiples and market noise.
Aditya Khemani, head of equities at Invesco, told ET Markets in an interview that the fund’s investment process is built around identifying businesses with strong earnings power, capable management teams and a long runway for reinvestment. The fund runs a reasonably concentrated portfolio where the top 10 stocks contribute to nearly half of the portfolio. In June, the scheme had 41 stocks with Prestige Estates, Federal Bank, Max Healthcare, Meesho and Global Health being the 5 largest holdings.
