Large & Mid Cap Mutual Funds in India
Updated September 2026 · 41 active funds · data from AMFI NAVs · benchmark: NIFTY LargeMidcap 250 TRI
Large & Mid Cap funds are SEBI-mandated to invest at least 35% in large-cap stocks (top 100 by market cap) and at least 35% in mid-cap stocks (companies ranked 101-250), with the balance at the manager's discretion. This twin-minimum structure forces meaningful exposure to both the stability of blue chips and the higher growth potential of mid-sized companies in a single fund. The result sits between a pure large-cap and a pure mid-cap fund on the risk-return spectrum: more volatile than a large-cap fund, but typically steadier than a dedicated mid-cap fund. Investors often use these funds to capture mid-cap upside without taking the full plunge, or as a one-fund blend of two cap segments. The default benchmark on FindMF is the NIFTY LargeMidcap 250 TRI, which combines the NIFTY 100 and NIFTY Midcap 150 in equal weight - closely mirroring the mandated 50/50 tilt. FindMF computes trailing returns, volatility, Sharpe, Sortino, drawdown and alpha/beta against this benchmark from AMFI daily NAVs under a disclosed methodology, so you can evaluate how each fund has balanced the two cap buckets historically.
Who it suits: Investors who want a built-in blend of large-cap stability and mid-cap growth without holding two separate funds.
79% of the 33 funds here with a computed alpha beat their benchmark over the measured window (positive alpha). Past performance is not indicative; this is analysis, not advice.
| # | Scheme | 1Y | 3Y | 5Y | Sharpe | Max DD | TER | AUM |
|---|---|---|---|---|---|---|---|---|
| 1 | Invesco India Large & Mid Cap Fund Invesco | +8.30% | +22.78% | +16.64% | 0.83 | -19.9% | 0.63% | ₹9.1K Cr |
| 2 | Motilal Oswal Large and Midcap Fund Motilal Oswal | +7.62% | +22.03% | +18.54% | 0.86 | -26.1% | 0.86% | ₹14.8K Cr |
| 3 | Bandhan Large & Mid Cap Fund Bandhan | +4.01% | +17.76% | +16.41% | 0.86 | -18.3% | 2.55% | ₹14.2K Cr |
| 4 | HSBC Large & Mid Cap Fund HSBC | +8.88% | +17.52% | +13.93% | 0.72 | -25.1% | 1.45% | ₹4.6K Cr |
| 5 | Axis Large & Mid Cap Fund Axis | +5.86% | +15.21% | +11.74% | 0.66 | -21.3% | 0.71% | ₹15.2K Cr |
| 6 | ICICI Prudential Large & Mid Cap Fund ICICI Prudential | +0.61% | +15.14% | +15.16% | 0.94 | -14.8% | 1.04% | ₹27.8K Cr |
| 7 | quant Large & Mid Cap Fund quant | +10.59% | +15.06% | +15.38% | 0.68 | -24.1% | 2.06% | ₹3.1K Cr |
| 8 | UTI Large & Mid Cap Fund UTI | +2.78% | +14.82% | +13.55% | 0.76 | -18.3% | 1.36% | ₹5.6K Cr |
| 9 | Nippon India Vision Large & Mid Cap Fund Nippon India | -1.02% | +14.22% | +12.36% | 0.72 | -19.1% | 2.27% | ₹659 Cr |
| 10 | Edelweiss Large & Mid Cap Fund Edelweiss | +3.93% | +14.11% | +12.55% | 0.70 | -18.2% | 0.53% | ₹4.3K Cr |
| 11 | Sundaram Large and Midcap Fund Sundaram | +6.67% | +14.07% | +11.40% | 0.68 | -20.3% | 2.60% | ₹6.5K Cr |
| 12 | Baroda BNP Paribas Large and Mid Cap Fund Baroda BNP Paribas | +2.66% | +13.73% | +11.91% | 0.68 | -20.6% | 1.65% | ₹1.7K Cr |
| 13 | Nippon India Vision Large & Midcap Fund Nippon India | -1.70% | +13.54% | +11.74% | 0.68 | -19.3% | - | ₹6.1K Cr |
| 14 | LIC MF Large & Mid Cap Fund LIC | +0.30% | +13.42% | +10.84% | 0.61 | -18.7% | 1.04% | ₹3.0K Cr |
| 15 | BANK OF INDIA Large & Mid Cap Fund Bank of India | +6.37% | +13.36% | +11.48% | 0.63 | -21.2% | 1.20% | ₹440 Cr |
| 16 | Union Large & Midcap Fund Union | +5.60% | +13.19% | +11.34% | 0.67 | -19.6% | 1.30% | ₹911 Cr |
| 17 | Kotak Large & Midcap Fund Kotak Mahindra | +1.43% | +13.13% | +13.08% | 0.70 | -18.5% | - | ₹29.8K Cr |
| 18 | DSP Large & Mid Cap Fund DSP | -1.17% | +13.09% | +11.41% | 0.62 | -19.5% | 1.13% | ₹17.2K Cr |
| 19 | BANK OF INDIA Large & Mid Cap Fund Eco Bank of India | +5.73% | +12.82% | +10.92% | 0.59 | -21.4% | - | ₹5 Cr |
| 20 | HDFC Large and Mid Cap Fund HDFC | +0.43% | +12.60% | +13.99% | 0.76 | -18.7% | 0.92% | ₹28.0K Cr |
Ranked by trailing return (3Y where available, else 1Y) on funds with at least one year of history. Returns, Sharpe, drawdown and TER are computed independently from AMFI NAVs - see methodology. No paid placement.
Frequently asked questions
How are Large & Mid Cap funds taxed?
These funds hold well over 65% in Indian equity, so they follow equity taxation: short-term gains (held under 12 months) are taxed at 20%, and long-term gains (held 12 months or more) at 12.5% on amounts above Rs 1.25 lakh per financial year.
What expense ratio is reasonable, and how do I compare these funds?
Direct-plan TERs here usually run modestly above pure large-cap funds because of the mid-cap research load. Since managers have wide latitude over the remaining 30%, dispersion between funds can be large - compare them on FindMF using long-term alpha versus the NIFTY LargeMidcap 250 TRI, volatility, drawdown and TER together, all computed from AMFI NAVs.
How are Large & Mid Cap funds different from Multi Cap funds?
Both span market caps, but a Multi Cap fund must hold at least 25% each in large, mid and small caps, whereas a Large & Mid Cap fund needs 35% each in large and mid with no small-cap floor. That makes Large & Mid Cap funds typically less small-cap-heavy.
How volatile are these funds?
They sit between large-cap and mid-cap funds in risk. The mandated mid-cap minimum means deeper drawdowns than a large-cap fund in corrections. FindMF's volatility and maximum-drawdown figures, derived from AMFI NAVs, show each fund's historical swings.