Large and Mid Cap Mutual Funds
Last updated:
Large and mid cap mutual funds combine large-company and mid-sized-company exposure within one equity portfolio. SEBI requires at least 35% of total assets in large-cap equities and related instruments and at least 35% in mid caps. The category therefore has a meaningful mid-cap commitment even when the manager becomes cautious about that segment.
Total funds
37
SEBI categorised
Category AUM
₹3.54L Cr
▼ ₹18.85K Cr MoM
Category avg 1Y return
-3.5%
As of 30th October 2026
Net flow - October 2026
₹4.07K Cr
▲ Net Inflow
Best Large and Mid Cap Mutual Funds in India
Eligible direct-plan funds are ordered by INDmoney Rank; schemes marked Not Ranked do not currently meet its eligibility criteria. Compare the displayed return periods, expense ratios and AUM, then review the portfolio and benchmark before shortlisting. The ranking is a research aid and does not guarantee future returns.
What are the companies that Top 5 Large Mid Cap Funds adding or exiting?
List of companies added and exited by Top Ranked Large Mid Cap Funds in the month of September 2026.
| Mutual fund | Adding | Exiting | ||
|---|---|---|---|---|
| Company | Value | Company | Value | |
| Bandhan Large & Mid Cap FundBandhan Large & Mid Cap Fund | ||||
| Invesco India Large&MidCap FundInvesco India Large&MidCap Fund | ||||
| Motilal Oswal Large and Midcap FundMotilal Oswal Large and Midcap Fund | ||||
| Baroda BNP Paribas Large and Mid Cap FundBaroda BNP Paribas Large and Mid Cap Fund | ||||
| SBI Large & Midcap FundSBI Large & Midcap Fund | ||||
Which funds are gaining or losing investor interest?
List of Large Mid Cap Funds with highest cash net Inflow and Outflow in the month of October 2026.
Highest Inflow funds in the last month
Fund | Inflow |
|---|---|
 Motilal Oswal Large and Midcap Fund | +₹669.91 Cr |
 Bandhan Large & Mid Cap Fund | +₹627.18 Cr |
 SBI Large & Midcap Fund | +₹528.81 Cr |
 ICICI Prudential Large & Mid Cap Fund | +₹507.47 Cr |
 Invesco India Large&MidCap Fund | +₹491.36 Cr |
Highest Outflow funds in the last month
Fund | Outflow |
|---|---|
 Tata Large & Mid Cap Fund | -₹68.64 Cr |
 Edelweiss Large & Mid Fund | -₹47.96 Cr |
 Canara Robeco Large and Mid Cap Fund | -₹43.61 Cr |
 ITI Large & Mid Cap Fund | -₹14.85 Cr |
 Aditya Birla Sun Life Large & Mid Cap Fund | -₹9.36 Cr |
How the allocation changes your investment
The two minimum allocations account for at least 70% of the portfolio. The remaining portion is managed within the scheme’s permitted mandate; it should not be assumed to be a permanent cash buffer or an equal split between market caps.
Large-company holdings may add liquidity and established earnings streams. Mid-cap holdings can introduce different business opportunities, but also sharper valuation changes and liquidity constraints. Combining them does not guarantee that one portion will offset losses in the other.
Large and mid cap versus flexi cap and multi cap
| Category | Main constraint | Investor implication |
|---|---|---|
| Large and mid cap | At least 35% each in large and mid caps | Mid-cap exposure cannot be reduced below its category floor in normal operation |
| Flexi-cap mutual funds | No prescribed minimum in each market-cap segment | The manager has greater freedom over the size mix |
| Multi-cap mutual funds | At least 25% each in large, mid and small caps | Includes a compulsory small-cap allocation |
Choose between these mandates before comparing past returns. A higher return from a portfolio with more smaller-company exposure is not automatically evidence of better fund management.
What to check before comparing funds
Review the actual market-cap mix, top holdings and sector concentration. Then compare returns with the fund’s stated total return benchmark across several market conditions and inspect drawdowns where available.
Also check whether a new fund duplicates an existing large-cap and mid-cap combination. A single combined fund may simplify monitoring, while separate funds offer control over allocation; neither structure is automatically superior. Expenses, manager continuity and portfolio overlap help explain the practical differences.
Risks, holding period and taxation
Both large and mid caps can decline together during a market correction. Mid-cap valuations and trading liquidity can amplify losses, so this is a long-term equity allocation rather than money reserved for an approaching expense.
Capital-gains treatment depends on the scheme qualifying as equity-oriented and on the holding period of the units sold. Each SIP instalment has its own acquisition date. Check the current tax-year rules, and assess IDCW distributions separately from capital gains.
Explore More Equity Funds
Frequently asked questions
Compare schemes following the combined mandate over the same dates and plan type. Examine their actual mid-cap exposure, concentration, costs and losses during weaker markets. The required mid-cap allocation makes this a different decision from selecting a predominantly large-cap fund.
No. The minimum is 35% in each segment, not a compulsory 50:50 allocation. Actual weights depend on the scheme and the manager’s decisions.
Its minimum mid-cap allocation is lower, but actual risk also depends on holdings, valuations and concentration. Compare portfolio and drawdown evidence instead of relying only on category labels.
Not exactly. A large-cap fund has a much higher mandatory large-cap allocation, so it serves a different market-cap role.