Growth mutual funds are making investors rich amidst the volatile stock market. They have delivered a compound annual growth rate (CAGR) of 22.2% over the past three decades. These fund schemes confirm the advice given by mutual fund experts to investors. This means that to achieve higher returns, you need to stay invested for a longer period.

Data shows that mid-cap funds like Edelweiss, Kotak, and Invesco have delivered impressive returns of between 17 and 19% over the past ten years. Nippon India Growth Mid Cap, one of the oldest mutual funds in the country, is completing 30 years this year. It was launched in 1995. Nippon India Growth Mid Cap Fund has been one of the best-performing funds in its three-decade journey. It has delivered returns at a CAGR of 22.2% since inception. If you had invested a lump sum of ₹1 lakh at the fund's inception, your investment would have been worth over ₹4 crore today.

Growth mid-cap funds focus on investing in companies that deliver above-average growth and have the potential to deliver good returns over time. The fund's success is attributed to its robust investment methodology and rigorous risk management processes. Growth-style mid-cap funds are ideal for long-term investments in the equity sector. Mid-cap funds provide diversification by investing in a variety of stocks, helping to mitigate risk.

Nippon India Growth Mid-Cap Fund has the largest investment in the financial sector, accounting for a quarter of its corpus. 17.47% is in consumer discretionary funds and 17.03% in industrials. It also has diversification in sectors such as healthcare, technology, energy, and materials.