Best Large and Mid Cap Funds in India to Invest in April 2023

Large and mid-cap funds are open-ended mutual funds that invest in stocks of large-cap and mid-cap companies. According to the Securities and Exchange Board of India (SEBI), large-cap companies are those ranked from 1 to 100 on the basis of market capitalisation. Meanwhile, mid-cap companies are ranked from 101 to 250 on Indian stock exchanges. 

Here’s a list of the 15 best large and mid-cap funds with their complete details. Read on!

Top 15 Large and Mid Cap Funds in India 2023

The table below presents the 15 best large and mid cap funds 2023 in India based on their 5-year returns: 

Also Read

20 Best Mid Cap Mutual Funds in India to Invest in April 2023

15 Best Large Cap Mutual Funds in India to Invest in April 2023

Performance of Best Large and Mid Cap Funds 2023 

Take a look at the details of each of the best-performing large and mid-cap funds in India: 

1. Navi Large & Midcap Fund – Direct Plan – Growth

One of the best large and mid-cap funds, Navi Large & Midcap Fund was launched on December 07, 2015. It primarily invests in mid-cap companies for medium to long-term capital appreciation. In terms of sectoral allocation, it invests 24.70% in the financial sector, 10.35% in healthcare, 9.78% in automobiles, 9.51% in technology, 9.32% in capital goods and 36.34% in others. Since this scheme was launched, it has generated 15.04% average annual returns.  

• AUM: ₹234.38 Crore
• NAV: ₹27.21
• Expense Ratio: 0.35%
• Risk: Very high risk 
• Minimum Investment: SIP ₹10, Lump Sum ₹10
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: -0.0%
  • Annualised 3-Year Return: 31.3%
  • Annualised 5-Year Return: 12.9%

2. Quant Large and Mid Cap Fund – Direct Plan – Growth

This mutual fund was officially launched on January 07, 2013, and invests 99.05% in equities. When it comes to sectoral allocation, it invests 24.01% in financial sectors, 14.63% in consumer staples, 12.86% in energy, 12.01% in energy, 8.34% in services and the remaining portion in others.  

• AUM: ₹652.91 Crore 
• NAV: ₹73.21
• Expense Ratio: 0.56%
• Risk: Very high risk 
• Minimum Investment: SIP ₹1000, Lump Sum ₹5000
• Type of Fund: Equity: Large and Mid Cap
• Returns:
  • Annualised 1-Year Return: 0.8%
  • Annualised 3-Year Return: 33.4%
  • Annualised 5-Year Return: 14.3%

3. Mirae Asset Emerging Bluechip Fund – Direct Plan – Growth

This mutual fund was launched on January 01, 2013 and is considered to be one of the best large and mid-cap funds. 99.75% of its investments are in equities. This fund invests majorly in the financial sector followed by automobile, energy, technology and healthcare. The Mirae Asset Emerging Bluechip Fund has generated 21.83% average annual returns since its launch.  

• AUM: ₹23,394.44 Crore
• NAV: ₹101.91
• Expense Ratio: 0.68% 
• Risk: Very high risk
• Minimum Investment: SIP ₹1000, Lump Sum ₹5000
• Type of Fund: Large and mid-cap fund
• Returns:
  • Annualised 1-Year Return: -1.7%
  • Annualised 3-Year Return: 31.20%
  • Annualised 5-Year Return: 15.40% 

4. Kotak Equity Opportunities Fund – Direct Plan – Growth

This open-ended mutual fund was launched on January 02, 2013, and invests 96.82% in equities. When it comes to sectoral allocation, Kotak Equity Opportunities Fund invests majorly in the financial sector, followed by capital goods, automobiles, energy, chemicals and others. The scheme has delivered 15.81% average annual returns since its launch.  

• AUM: ₹11608.35 Crore
• NAV: ₹227.53
• Expense Ratio: 0.60%
• Risk: Very high risk 
• Minimum Investment: SIP ₹1000, Lump Sum ₹5000
• Type of Fund: Large and mid-cap fund
• Returns:
  • Annualised 1-Year Return: 4.9%
  • Annualised 3-Year Return: 30.3%
  • Annualised 5-Year Return: 14.1%

5. ICICI Prudential Large & Mid Cap Fund- Direct Plan – Growth

Launched on January 01, 2013, this mutual fund has 96.65% investment in equities. It invests 52.45% in large cap stocks, 28.68% in mid cap stocks and 3.31% in small cap stocks. Sector-wise, the allocation of this fund is 31.29% in the financial sector, 11.44% in automobiles, 10.92% in energy, 8.13% in technology, 7.94% in healthcare and 30.28% in others.  

• AUM: ₹7044.14 Crore
• NAV: ₹622.07
• Expense Ratio: 1.09% 
• Risk: Very high 
• Minimum Investment: SIP ₹100, Lump Sum ₹5000
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: 7.5%
  • Annualised 3-Year Return: 35.9%
  • Annualised 5-Year Return: 13.8% 

6. Edelweiss Large and Mid Cap Fund – Direct Plan – Growth

Edelweiss Large and Mid Cap Fund is one of the best large and mid-cap funds launched on January 01, 2013. This fund has 96.78% of its investments in equities and 3.39% in debt securities. When it comes to sectoral allocation, it invests 28.79% in the financial sector, 8.38% in materials, 7.50% in capital goods, 7.37% in automobiles, 6.27% in technology and 41.69% in others. The minimum investment amount for SIPs allowed is ₹1,000. 

• AUM: ₹1711.11 Crore 
• NAV: ₹58.48
• Expense Ratio: 0.60%
• Risk: Very high 
• Minimum Investment:  SIP ₹500, Lump Sum ₹5000
• Type of Fund: Large and mid-cap fund
• Returns:
  • Annualised 1-Year Return: 0.5%
  • Annualised 3-Year Return: 29.4%
  • Annualised 5-Year Return: 13.2%

7. SBI Large & Midcap Fund – Direct Plan – Growth

SBI Large & Midcap Fund was launched on January 01, 2013, and has 95.46% investments in equity and 4.54% in others. When it comes to sectoral allocation, it has 19.68% investments in the financial sector, 10.33% in automobiles, 8.67% in healthcare, 7.19% in services and 6.71% in consumer staples. Let us take a look at its details:

• AUM: ₹9441.41 Crore 
• NAV: ₹408.61
• Expense Ratio: 1.02%
• Risk: Very high 
• Minimum Investment: SIP ₹500, Lump Sum ₹5000
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: 5.9%
  • Annualised 3-Year Return: 33.8%
  • Annualised 5-Year Return: 13.9%

8. Tata Large & Mid Cap Fund – Direct Plan – Appreciation

This scheme was launched on January 02, 2013. Since it was launched, it has generated 15.64% average annual returns. In terms of sector-wise allocation, it has invested 27.27% in the financial sector, 9.36% in services, 8.10% in consumer staples, 7.08% in capital goods, 6.72% in energy and 41.47% in the rest.  

• AUM: ₹3680.98 Crore
• NAV: ₹385.31
• Expense Ratio: 0.89%
• Risk: Very high risk 
• Minimum Investment: SIP ₹150, Lump Sum ₹5000
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: 9.8%
  • Annualised 3-Year Return: 30.3%
  • Annualised 5-Year Return: 14%

9. Canara Robeco Emerging Equities – Direct Plan – Growth

This scheme was officially launched on January 02, 2013. It invests 30.92% in the financial sector, 9.34% in automobiles, 7.77% in services, 7.22% in healthcare, 6.88% in technology and 37.78% in others. This large and mid cap fund has delivered 19.95% average annual returns since its launch. Provided below are its details:

• AUM: ₹15261.98 Crore
• NAV: ₹ 173.47
• Expense Ratio: 0.60%
• Risk: Very high  
• Minimum Investment:  SIP ₹1000, Lump Sum ₹5000
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: -0.8%
  • Annualised 3-Year Return: 28.9%
  • Annualised 5-Year Return: 12.7%

10. HDFC Large and Mid Cap Fund – Direct Plan – Growth

The HDFC Large and Mid Cap Fund was officially launched on January 02, 2013, and it invests 99.02% in equities. It invests 26.76% in the financial sector, 10.16% in services, 9.60% in automobiles, 9.43% in energy, 9.30% in technology and 34.75% in others. It has delivered 11.51% average annual returns since its launch, doubling an investor’s money every 3 years. Provided below are important details:

• AUM: ₹7897.59 Crore 
• NAV: ₹198.26
• Expense Ratio: 1.04%
• Risk: Very high  
• Minimum Investment:  SIP ₹100, Lump Sum ₹100
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: 4.5%
  • Annualised 3-Year Return: 34.3%
  • Annualised 5-Year Return: 13.2% 

11. Sundaram Large and Mid Cap Fund – Direct Plan – Growth

This large and mid cap mutual fund was launched on January 01, 2013, and invests 94.34% in equity and 5.66% in others. It invests in the financial sector, automobile, capital goods, technology, services and others. It is a medium-sized fund in its category and has generated 17.14% average annual returns since it was launched.  

• AUM: ₹4885.09 Crore
• NAV: ₹57.71
• Expense Ratio: 0.72%
• Risk: Very high risk 
• Minimum Investment: SIP ₹100, Lump Sum ₹100
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: -2.3%
  • Annualised 3-Year Return: 29.2%
  • Annualised 5-Year Return: 11.4% 

12. Invesco India Growth Opportunities Fund – Direct Plan – Growth 

This mutual fund was launched on January 02, 2013, and invests 98.09% in equity and 1.91% in others. When it comes to sectoral allocation, this scheme has less exposure in the financial and automobile sectors than other funds compared to its category. Since its launch, this fund has been able to deliver 15.44% average annual returns.  

• AUM: ₹3665 Crore
• NAV: ₹58.18
• Expense Ratio: 0.66%
• Risk: Very high 
• Minimum Investment: SIP ₹100, Lump Sum ₹1000
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: 0.4%
  • Annualised 3-Year Return: 24.8%
  • Annualised 5-Year Return: 11.1%

13. DSP Equity Opportunities Fund – Direct Plan – Growth

This fund was introduced on January 01, 2013, and it aims to generate long-term capital appreciation and dividend income. It invests 98.86% in equities and 1.14% in others. It invests 32.51% in the financial sector, 9.96% in automobiles, 9.00% in technology, 8.17% in healthcare, 7.29% in energy and 33.07% in others. Since its launch, it has generated 15.35% average annual returns.  

• AUM: ₹7110.57 Crore
• NAV:  ₹384.03
• Expense Ratio: 0.91%
• Risk: Very high 
• Minimum Investment: SIP ₹500, Lump Sum ₹500
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: 4%
  • Annualised 3-Year Return: 29.1%
  • Annualised 5-Year Return: 11.8%

14. LIC MF Large & Mid Cap Fund – Direct Plan – Growth

This scheme has made 95.07% investments in equity and 4.93% in others. If we look at its portfolio allocation, sector-wise, 24.94% has been invested in the financial sector, 10.25% in services, 9.04% in capital goods, 8.95% in technology, 7.46% in chemicals and 39.36% in others. The LIC MF Large and Mid Cap Fund was officially launched on February 25, 2015.  

• AUM: ₹1888.67 Crore 
• NAV: ₹25.32
• Expense Ratio: 0.84%
• Risk: Very high  
• Minimum Investment: SIP ₹1000, Lump Sum ₹5000
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: -5.2%
  • Annualised 3-Year Return: 25.3%
  • Annualised 5-Year Return: 11.2%

15. IDFC Core Equity Fund – Direct Plan – Growth 

IDFC Core Equity Fund was launched on January 01, 2013, and since then, it has delivered 13.42% in average annual returns. This medium-sized fund of its category has 98.75% investments in equities, 0.01% in debt and 1.24% in others. It has exposure in the financial sector, automobiles, technology, healthcare, energy and others.  

• AUM: ₹2390.66 Crore
• NAV: ₹80.84
• Expense Ratio: 0.87%
• Risk: Very high 
• Minimum Investment:  SIP ₹100, Lump Sum ₹5000
• Type of Fund: Large and mid cap fund
• Returns:
  • Annualised 1-Year Return: 5.4%
  • Annualised 3-Year Return: 32.30%
  • Annualised 5-Year Return: 11.50%

Calculate Your Mutual Fund Returns

Who Should Invest in Large and Mid Cap Mutual Funds?

1. Investors Who Want to Opt for Long-term Capital Growth

Individuals with a long-term investment horizon might consider investing in these funds. Therefore, investors whose goals include financing their child’s education, building a retirement corpus, etc., can benefit from the returns generated from investing in these funds. 

2. Individuals Who Prefer Mid-cap Exposure but Lower Risk

Generally, large and mid-cap funds are less volatile than mid-cap funds. This is because they invest in large-cap stocks, which generate more consistent returns. 

3. Investors Seeking Professional Expertise

Investing in equity requires adequate knowledge regarding stocks. Moreover, individuals need to track the market and analyse the stocks before making an investment. This can be quite challenging and time-consuming. As an alternative, they can invest in equity funds, such as large and mid-cap funds. These schemes are managed by fund managers who have many years of experience in the investment world. They take all the buy-and-sell decisions as per the market scenario. 

4. Investors Looking to Invest in Equity with a Small Amount

Many individuals wish to invest in the equity market but cannot due to monetary constraints. In this regard, they can consider investing in mid-cap funds. This is because investors can get exposure to top stocks without having to part with a substantial amount of savings.  

Also Read

15 Best Multi Cap Funds to Invest in India (April 2023)

10 Best Blue Chip Funds to Invest in India in April 2023

How to invest in Best Large and Mid Cap Funds?

Taxation on Large and Mid Cap Funds 

Since these funds are equity schemes, their taxation is similar to that of equity funds. Depending on the holding period, there are two types of taxes applicable on the returns generated:

1. Short-term Capital Gains (STCG) Tax

If individuals sell the units before 1 year, they have to pay short-term capital gains tax at the rate of 15% plus 4% cess. 

2. Long-term Capital Gains (LTCG) Tax

This tax is applicable when individuals sell their units after 1 year from the date of purchase. Investors need to pay 10% (plus 4% cess) tax on long-term capital gains.  Note that LTCG tax is not applicable if the gains do not exceed Rs.1 lakh. 

Benefits of Investing in the Best Large and Mid Cap Funds

1. Offers a Diversified Portfolio

Since this fund invests in stocks across several large and mid-cap companies, one can expect a diversified portfolio. Due to this, the risks of losses decrease as the investment is spread out across large and mid-cap stocks belonging to different sectors.  

2. Provides Stability of Large-cap and Growth of Mid-cap

By investing in large and mid-cap mutual funds, individuals can expect more financial stability than in mid-cap funds due to the underlying large-cap stocks. On the other hand, mid-cap organisations can grow over time and can potentially become large companies in the future. Accordingly, investors stand a chance to earn high returns owing to the mid-cap stocks in the portfolio. 

That said, if investors are looking for equity exposure with lower risk, they can consider investing in large-cap funds, such as the Navi Large Cap Equity Fund from the Asset Management Company, Navi. By investing in this equity scheme, get exposure to the top 100 companies in India with regard to market capitalisation. 

Factors to Consider Before Investing in Large and Mid Cap Funds

1. Investment Goal

Being an equity-oriented fund, a large and mid-cap fund comes with a long-term investment horizon. Therefore, individuals with long-term financial goals might factor in this aspect of the instrument. 

2. Risks

Large and mid-cap funds invest in equity and equity-related instruments. Due to this reason, these funds are associated with high financial risk. Hence, investors might want to evaluate their risk appetite before applying for this category of mutual funds. 

3. Expense Ratio

Fund houses levy a fee on a yearly basis to cover the expenses incurred for running the fund. This annual charge is known as the expense ratio. It has an impact on the returns of a mutual fund scheme. Accordingly, one might consider going for a fund that comes with a lower expense ratio. Remember, this is not the only aspect. Make sure to consider other vital factors, such as the experience of a scheme’s fund manager, and past returns of the scheme before investing in large and mid-cap funds.

Final Word 

The best large and mid-cap funds 2023 provide you with a prudent mix of today’s market leaders and the potential leaders of the future. This combination enables investors to benefit from the growth potential of mid-caps and the stability of large caps. That said, make sure that the objective of the scheme is in line with your financial goals before investing. 

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Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.

This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.

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