An Indian mid-cap mutual fund has delivered an astounding return over the past 30 years, turning an initial ₹1 lakh investment into roughly ₹4 crore—reflecting a compound annual growth rate (CAGR) of ~22%. Fund managers attribute this performance to a disciplined Growth At Reasonable Price (GARP) investment strategy, focusing on financials and consumer-facing stocks while controlling valuations and adapting to evolving market cycles. As India’s manufacturing and capital-expenditure cycles gain traction, the fund remains bullish on mid-cap earnings revival but emphasises valuation discipline and risk management in its next phase.