Mid-cap funds are an ideal investment options for investors looking for high return potential that comes with lower risk than small-cap funds. Mid-cap funds are not very susceptible to volatility in broader markets, making it an ideal bet given that macroeconomic conditions have generally offered a roller-coaster ride in recent years. Meanwhile, when capital appreciation over the long term takes precedence over dividend payouts, growth funds become a natural choice for investors. These funds focus on realizing an appreciable amount of capital growth by investing in stocks of firms whose value is projected to rise over the long term. However, a relatively higher tolerance to risk and the willingness to park funds for the longer term are necessary when investing in these securities. This is because they may experience relatively more fluctuations than other fund classes.

Below we will share with you 5 buy ranked mid-cap growth mutual funds. Each has earned either a Zacks Mutual Fund Rank #1 (Strong Buy) or a Zacks Mutual Fund Rank #2 (Buy) as we expect these mutual funds to outperform their peers in the future. 

Janus Enterprise S (JGRTX - MF report) seeks capital appreciation over the long run. JGRTX invests a minimum of half of its assets in common stocks of companies having market capitalizations similar to those listed in the Russell Midcap Growth Index. JGRTX invests in companies that are believed to have above-average growth prospects. JGRTX may invest in companies located outside the US including those from emerging nations. The Janus Enterprise S fund has returned 6.8% over the year-to-date frame.

Brian Demain is the fund manager and has managed JGRTX since 2007.

Neuberger Berman Mid Cap Growth A (NMGAX - MF report) invests a large chunk of its assets in companies having market cap size identical to those included in the Russell Midcap Index. NMGAX maintain a diversified portfolio by investing in common stocks of companies across a wide range of sectors and industries. NMGAX may focus on specific sectors that are expected to gain from market or economic trends. The Neuberger Berman Mid Cap Growth A fund has returned 12.3% over the year-to-date frame.

As of May 2015, NMGAX held 104 issues with 1.71% of its assets invested in O'Reilly Automotive Inc.

TIAA-CREF Mid-Cap Growth Premier (TRGPX - MF report) seeks total return through long-term growth of capital. TRGPX invests a major portion of its assets in equity securities of companies having market capitalizations within the range of the Russell Midcap Growth Index. TRGPX primarily emphasizes on acquiring securities of domestic companies with favorable growth potentials. The TIAA-CREF Mid-Cap Growth Premier fund has returned 7% over the year-to-date frame.

TRGPX has an expense ratio of 0.62% as compared to category average of 1.30%.

Dreyfus Mid-Cap Growth F (FRSPX - MF report) invests a lion’s share of its assets in growth companies having market capitalizations within the universe of the Russell Midcap Growth Index. FRSPX may invest a maximum of 30% of its assets in securities of non-US companies. FRSPX may invest up to 25% of its assets in a particular foreign country. The Dreyfus Mid-Cap Growth F fund has returned 5.5% over the year-to-date frame.

As of May 2015, FRSPX held 59 issues with 2.79% of its assets invested in Imax Corp.

PRIMECAP Odyssey Aggressive Growth (POAGX - MF report) seeks capital growth over the long run. POAGX invests in common stocks of domestic companies having an impressive growth prospect. Though POAGX invests in companies irrespective of market capitalizations, POAGX invests a notable portion of its assets in mid and small cap firms. The PRIMECAP Odyssey Aggressive Growth fund has returned 7.7% over the year-to-date frame.

POAGX has an expense ratio of 0.62% as compared to category average of 1.30%.

To view the Zacks Rank and past performance of all mid cap growth mutual funds, investors can click here to see the complete list of funds.