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HDFC Mid Cap Fund Crosses ₹1 Lakh Crore AUM, Strengthens Position Among India’s Largest Midcap Funds

· Free Press Journal

HDFC Mid Cap Fund has achieved a major milestone by crossing ₹1 lakh crore in Assets Under Management (AUM), positioning itself among the largest funds in the mid-cap mutual fund category in India.

The fund was launched on June 25, 2007, and has built a strong track record over nearly two decades.

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Since inception, the fund has delivered a compound annual growth rate (CAGR) of 17.13%, outperforming its benchmark, the Nifty Midcap 150 Index, which recorded a CAGR of 15.04% over the same period.

As of May 31, 2026, the fund’s AUM stood at ₹97,350 crore before crossing the ₹1 lakh crore mark, reflecting steady inflows and long-term investor confidence.

According to HDFC Asset Management Company, the fund’s performance is driven by a disciplined, research-oriented investment strategy focused on identifying high-quality businesses with long-term compounding potential.

The approach emphasises strong management, scalable business models, sustainable competitive advantages, and reasonable valuations.

HDFC AMC Managing Director and CEO Navneet Munot said the milestone reflects nearly 20 years of consistent investing through multiple market cycles.

He noted that the fund has remained focused on identifying quality companies with strong growth potential, supported by investor trust and distributor participation.

Over different time horizons, the fund has delivered strong returns. In the last 10 years, it generated a CAGR of 17.95%, while the five-year CAGR stood at 20.20%.

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Systematic Investment Plan (SIP) performance also highlights long-term wealth creation potential.

A monthly SIP of ₹10,000 since inception would have grown to approximately ₹1.82 crore, delivering an XIRR of 19.01%.

Over 10 and 15 years, the same SIP would have grown to ₹32.44 lakh and ₹88.26 lakh respectively, demonstrating the impact of compounding over time.

Similarly, a lump sum investment of ₹10,000 at inception would now be worth about ₹1.99 lakh.

The fund is designed for investors seeking long-term capital appreciation through exposure to mid-cap companies.

As of May 31, 2026, other HDFC Mutual Fund schemes with over ₹1 lakh crore AUM include the HDFC Balanced Advantage Fund and HDFC Flexi Cap Fund.

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US sanctions Raipur CEO, firm over explosives supplies linked to Sudan war

· India Today

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Trio accused in R10m insurance fraud scheme granted bail

· Citizen

Three of the accused in the R10 million insurance murder case have been granted bail.

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The accused appeared in the Polokwane Magistrates’ Court on Friday, where the ruling was handed down. The case involves former police sergeant Rachel Kutumela,

The three are expected to go on trial from 5-30 October 2026 at the Polokwane High Court.

Bail

The court granted bail of R10 000 each to accused 8, Damaris Selepe; accused 9, Benedictor Mataba; and accused 10, Martha Ruiters, after finding insufficient evidence that they posed a risk to state witnesses.

They were released on strict conditions, including not to interfere with state witnesses, and must report to the Seshego Police Station every Friday until the matter is finalised.

Charges

The trio are among ten accused facing charges linked to an alleged insurance fraud and murder scheme.

They face 47 charges, including nine counts of murder, fraud, money laundering, receiving the proceeds of unlawful activities and defeating the ends of justice.

The group allegedly killed at least ten people, including poor, vulnerable and disabled relatives, to claim millions of rand in insurance payouts.

Bail denied

Meanwhile, the Polokwane Magistrate’s Court denied bail to five other accused in the R10 million insurance matter.

Bail was denied to accused 5 Thomas Shokane (brother of Rachel Kutumela), accused 6: William Shokane (Thomas’s brother), accused 7: David Kutumela (Rachel’s husband and a school principal), and accused 11: Robert Shokane (Rachel’s brother), placing four close family members at the centre of the alleged R10‑million insurance fraud case.

Accused 4, Johannes Shokane, also a brother of Rachel Kutumela, abandoned his bail application.

They remain in custody.

Case postponed

The National Prosecuting Authority (NPA) spokesperson, Mashudu Malabi, said they welcomed the bail rulings handed down today by the Polokwane Magistrate’s Court.

“The matter was postponed to 30 July 2026 for further investigations and continuation of court proceedings.

“The NPA commends the investigating team for its diligent work in bringing the matter before court and remains steadfast in its commitment to ensuring that those involved in fraud and corruption are held accountable through the criminal justice system, without fear, favour, or prejudice,” Malabi said.

Court

Kutumela, a 43-year-old sergeant attached to a police station in Limpopo, was arrested on 11 October 2024 while on duty.

During court proceedings in November, the alleged insurance killer explained that she began insuring her family members after joining the police force. This is after witnessing her mother’s financial struggles at a young age.

The State has accused Kutumela of killing Sydney Noko Montja, Joyce Tsela Malesa, Navel Kutumela, Maphari Ephraim Chosi, Jacob Petrus Seakamela and Phuthi Martin Mothata between 2019 and 2024.

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