Bandhan Large and Mid Cap Fund

Bandhan Large and Mid Cap Fund has delivered strong SIP XIRR across horizons, with 20.93% over 3Y and 19.51% over 5Y, beating category averages of 18.21% and 18.05% respectively. It has also consistently outperformed the NIFTY 50 on a lump-sum basis, with alpha ranging from 4.53% (15Y) to 10.46% (3Y) and Fund CAGR of 15.95% vs benchmark 5.44% over 3Y. The 1Y XIRR of 13.11% also exceeds the category average of 11.05%, indicating recent relative strength despite a weak 2026 calendar year return of -5.8%.

The fund shows a defensive risk profile with downside capture consistently below 90% (e.g., 87.21% over 3Y) against upside capture near 99-100%, meaning it loses less in declines while keeping pace in rallies. Beta of roughly 0.90-0.96 confirms moderate sensitivity to market moves, and the maximum drawdown of just -0.39% with a 32-day duration reflects shallow recent corrections, though 8 drawdown events exceeding 10% have occurred historically. Calmar ratios of 0.41-0.48 across horizons indicate reasonable risk-adjusted returns for a large and mid cap mandate.

Detailed holdings and sector allocation data were not provided for this fund, so specific concentration analysis cannot be made. As a Large & Mid Cap Fund under SEBI norms, it is required to hold at least 35% each in large cap and mid cap stocks, inherently limiting single-market-cap concentration. Investors should review the latest factsheet for top holdings and sector weights before investing.

The fund beats its category average SIP XIRR at every disclosed horizon — for example, 20.93% vs 18.21% over 3Y and 17.26% vs 17.08% over 7Y — placing it in the upper tier of Large & Mid Cap peers. Calendar year returns show strong consistency, with positive years in 12 of the last 14 and standout gains of 39.16% (2017), 37.1% (2023), and 34.78% (2021). The main blemish is the current 2026 return of -5.8%, though this coincides with a sharply negative benchmark CAGR of -12.71% over 1Y, suggesting relative resilience.

This fund suits investors seeking diversified exposure across large and mid cap equities with a proven record of benchmark outperformance and downside protection. A minimum horizon of 5-7 years is appropriate given mid cap exposure and the historical occurrence of multiple 10%-plus drawdowns. It is best for investors with moderate-to-high risk tolerance who value consistent alpha over chasing the highest raw returns.

• SIP XIRR beats category averages at every horizon, including 20.93% vs 18.21% over 3Y and 19.51% vs 18.05% over 5Y
• Consistent alpha over NIFTY 50 across all periods, from 4.53% (15Y) to 10.46% (3Y), with downside capture below 90% in every window
• Low expense ratio of 0.53% for a Direct plan, enhancing net returns for long-term investors

• Calendar year 2026 return is negative at -5.8%, and recovery from the maximum drawdown took 239 days, indicating periods of prolonged weakness
• Upside capture slightly below 100% (e.g., 94.77% over 1Y) means the fund modestly lags in strong rallies, and no holdings data was available to assess concentration risk