Bajaj Finserv Large Cap Fund

The Bajaj Finserv Large Cap Fund has delivered a 1-year SIP XIRR of 6.19%, which is significantly below the category average of 14.08% for the same period. On a lump-sum basis, the fund's 1-year CAGR of 5.63% outperformed the NIFTY 50's -2.9%, resulting in a positive alpha of 8.12%. However, over longer horizons (3Y to 15Y), the fund's CAGR remains positive but low, while the benchmark has been negative, indicating relative outperformance but absolute returns are modest.

The fund exhibits a maximum drawdown of -0.17% with a recovery period of 259 days, indicating relatively shallow but prolonged drawdowns. The Calmar ratio of 0.321 for 1 year suggests moderate risk-adjusted returns relative to drawdown. With a beta of 0.96, the fund is slightly less volatile than the benchmark, and its downside capture of 90.45% indicates it loses less than the market in downturns, while upside capture of 101.5% shows it participates fully in upswings.

The fund holds 32 stocks with top 10 holdings accounting for about 46% of NAV, led by ICICI Bank (8.55%) and HDFC Bank (5.97%). Sector concentration is moderate, with Banks at 19.7% and Finance at 9.8%, together representing nearly 30% of the portfolio. The fund also has notable exposure to Pharmaceuticals (8.5%) and Automobiles (7.1%), providing some diversification beyond financials.

The fund's 1-year XIRR of 6.19% is well below the category average of 14.08%, indicating underperformance relative to peers. Over longer periods, the fund's CAGR has been positive but low, while the category averages (SIP XIRR) are around 14% across all horizons, suggesting the fund has consistently lagged its category. The fund's alpha versus the benchmark is positive, but this has not translated into category-leading returns.

This fund may suit investors seeking large-cap exposure with lower downside risk, as indicated by its downside capture ratio below 100%. However, given its significant underperformance versus the category, it is more appropriate for investors with a long-term horizon (5+ years) who prioritize capital preservation over high returns. Investors with a moderate risk tolerance and a preference for established large-cap names may consider this fund, but they should be aware of its recent return shortfall.

• Positive alpha versus the NIFTY 50 across all time horizons, indicating consistent benchmark outperformance.
• Lower downside capture (90.45% for 1Y) suggests the fund protects capital better than the index in falling markets.
• Moderate expense ratio of 0.61% for a direct plan, which is competitive for a large-cap fund.

• 1-year SIP XIRR of 6.19% is significantly below the category average of 14.08%, indicating underperformance versus peers.
• Calendar year returns have been volatile, with a -4.48% return in 2024 and -1.22% in 2026, showing inconsistent performance.