You should also note that sometimes midcap funds may suffer excessive losses if the midcaps they invest in do not perform well.
For whom midcap funds are suitable, they are only suitable for investors with high risk appetite and high tolerance. You should also have an investment horizon of 7 to 10 years.
List of best performing midcap funds this year:
1. Axis Midcap Fund
2. PGIM India Midcap Opportunities Fund
3. Invesco India Midcap Fund
4. Kotak Emerging Equity Fund
5. Tata Midcap Growth Fund
As mentioned above these midcap funds are suitable for long-term investors. If you invest in short term you may face excessive loss due to market risks.
Disclaimer: Mutual fund schemes are subject to market risks. Consult your advisor before investing and invest at your own discretion.