Large & Mid Cap Mutual Funds in India
Updated June 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.
67% 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 | Motilal Oswal Large and Midcap Fund Motilal Oswal | +1.39% | +23.95% | +20.05% | 0.81 | -26.1% | 0.86% | ₹14.8K Cr |
| 2 | Invesco India Large & Mid Cap Fund Invesco | +0.29% | +22.50% | +17.48% | 0.74 | -19.9% | 0.63% | ₹9.1K Cr |
| 3 | Bandhan Large & Mid Cap Fund Bandhan | +0.53% | +21.29% | +17.56% | 0.85 | -18.3% | 2.55% | ₹14.2K Cr |
| 4 | HSBC Large & Mid Cap Fund HSBC | +7.46% | +19.43% | +16.10% | 0.69 | -25.1% | 1.45% | ₹4.6K Cr |
| 5 | quant Large & Mid Cap Fund quant | +1.86% | +18.56% | +16.59% | 0.69 | -24.1% | 2.06% | ₹3.1K Cr |
| 6 | UTI Large & Mid Cap Fund UTI | -1.75% | +18.43% | +15.31% | 0.74 | -18.3% | 1.36% | ₹5.6K Cr |
| 7 | ICICI Prudential Large & Mid Cap Fund ICICI Prudential | -2.97% | +17.44% | +17.10% | 0.89 | -14.8% | 1.04% | ₹27.8K Cr |
| 8 | Nippon India Vision Large & Mid Cap Fund Nippon India | -2.16% | +17.33% | +14.93% | 0.69 | -19.1% | 2.27% | ₹659 Cr |
| 9 | DSP Large & Mid Cap Fund DSP | -3.55% | +17.30% | +13.60% | 0.60 | -19.5% | 1.13% | ₹17.2K Cr |
| 10 | Nippon India Vision Large & Midcap Fund Nippon India | -2.81% | +16.66% | +14.31% | 0.65 | -19.3% | - | ₹6.1K Cr |
| 11 | Edelweiss Large & Mid Cap Fund Edelweiss | -1.39% | +16.07% | +14.32% | 0.66 | -18.2% | 0.53% | ₹4.3K Cr |
| 12 | HDFC Large and Mid Cap Fund HDFC | -3.85% | +16.01% | +15.48% | 0.72 | -18.7% | 0.92% | ₹28.0K Cr |
| 13 | Baroda BNP Paribas Large and Mid Cap Fund Baroda BNP Paribas | -3.46% | +15.61% | +14.93% | 0.64 | -20.6% | 1.65% | ₹1.7K Cr |
| 14 | Kotak Large & Midcap Fund Kotak Mahindra | -2.18% | +15.44% | +14.68% | 0.66 | -18.5% | 0.55% | ₹29.8K Cr |
| 15 | Axis Large & Mid Cap Fund Axis | +1.43% | +15.37% | +14.02% | 0.61 | -21.3% | 0.71% | ₹15.2K Cr |
| 16 | BANK OF INDIA Large & Mid Cap Fund Bank of India | -0.27% | +15.08% | +13.03% | 0.59 | -21.2% | 1.20% | ₹440 Cr |
| 17 | LIC MF Large & Mid Cap Fund LIC | -7.38% | +15.03% | +12.81% | 0.54 | -18.7% | 1.04% | ₹3.0K Cr |
| 18 | SBI LARGE & MIDCAP FUND SBI | +1.19% | +14.89% | +14.61% | 0.75 | -16.4% | 0.91% | ₹37.4K Cr |
| 19 | Mirae Asset Large & Midcap Fund Mirae Asset | -1.08% | +14.69% | +12.20% | 0.52 | -19.5% | 0.76% | ₹42.1K Cr |
| 20 | Mahindra Manulife Large & Mid Cap Fund Mahindra Manulife | -3.56% | +14.56% | +13.95% | 0.64 | -20.0% | 0.69% | ₹2.7K 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.