LIC MF Infrastructure Fund
Direct · GrowthAI Summary
LIC MF Infrastructure Fund has delivered strong returns across horizons, with SIP XIRR of 21.83% over 1Y, 17.78% over 3Y and 19.57% over 10Y, consistently beating the category average SIP XIRR of 14.1%, 16.82% and 16.71% respectively. Against the NIFTY 50, the fund shows substantial alpha of 19.31% over 1Y and 16.05% over 5Y, with the fund's 5Y lump-sum CAGR of 23.82% far exceeding the benchmark's 7.83%. The alpha has narrowed over longer horizons, from 16.05% at 5Y to 4.84% at 15Y, suggesting the outperformance is more pronounced in recent periods.
The fund shows a favorable downside profile with downside capture below 100% across all periods (82.03% at 1Y, 80.29% at 5Y) while maintaining upside capture near or above 100%, indicating it falls less than the benchmark in declines. Six drawdown events exceeding 10% have occurred, with the maximum drawdown taking 290 days to recover, which is a meaningful recovery lag. Calmar ratios between 0.38 and 0.51 across horizons indicate moderate risk-adjusted returns, reasonable for a sectoral fund.
The portfolio holds 50 stocks with a well-spread top 10, where the largest position (Tata Motors PV at 3.64%) is modest, limiting single-stock risk. Sector allocation is diversified across industrial products (9.8%), auto components (8.6%), automobiles (7.7%), banks (7.6%) and power (7.0%), with exposure extending beyond pure infrastructure names into realty, telecom and auto components. This breadth softens the concentration risk typically seen in thematic funds, though it also dilutes the purity of the infrastructure theme.
The fund outperforms the category average SIP XIRR at every measured horizon, with the widest gap at 1Y (21.83% vs 14.1%) and a steady edge of roughly 1-3 percentage points over 3Y to 12Y. Calendar year returns show strong consistency in up-markets, with gains above 43% in 2014, 2017, 2021, 2023 and 2024, though losses in 2013, 2015, 2016, 2018 and 2025 highlight cyclicality. This pattern is typical of sectoral funds, where performance clusters with infrastructure and capex cycles.
This fund suits investors with high risk tolerance who already hold a diversified core portfolio and want a tactical allocation to India's infrastructure and capex theme. A horizon of at least 5-7 years is advisable, as the fund's cyclicality means multi-year flat or negative stretches (such as 2015-2016 and 2025) must be tolerated. Investors should size the position modestly, since sectoral funds carry higher timing risk than diversified equity funds.
- Consistent outperformance versus category average SIP XIRR at all horizons from 1Y to 12Y
- Strong alpha against NIFTY 50, including 16.05% over 5Y and 19.08% over 3Y, with downside capture below 90% in most periods
- Diversified 50-stock portfolio with a low largest holding of 3.64%, reducing single-stock concentration risk
- Six drawdown events exceeding 10% with a maximum drawdown recovery period of 290 days, reflecting the theme's cyclicality
- Alpha versus NIFTY 50 has narrowed over longer horizons, from 16.05% at 5Y to 4.84% at 15Y, and calendar year returns show sharp swings including -13.15% in 2018 and -3.13% in 2025
Generated on 06-09-2026, 7:59 PM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.86 L | 21.8% | -59.5% | 126.8% |
| 3 Years | ₹36.00 L | ₹45.85 L | 17.8% | -23.6% | 56.1% |
| 5 Years | ₹60.00 L | ₹93.24 L | 17.8% | -10.8% | 43.9% |
| 7 Years | ₹84.00 L | ₹1.50 Cr | 17.9% | -4.3% | 33.0% |
| 10 Years | ₹1.20 Cr | ₹3.52 Cr | 19.6% | 12.4% | 25.0% |
| 12 Years | ₹1.44 Cr | ₹4.93 Cr | 19.3% | 17.1% | 22.1% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 21.8% | 14.4% | 14.1% | +7.5% |
| 3 Years | 17.8% | 11.1% | 16.8% | +6.7% |
| 5 Years | 17.8% | 10.4% | 16.9% | +7.4% |
| 7 Years | 17.9% | 10.6% | 16.5% | +7.3% |
| 10 Years | 19.6% | 11.5% | 16.7% | +8.1% |
| 12 Years | 19.3% | 11.4% | 16.3% | +7.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 20.1% | 14.6% | -32.3% | 97.3% | 0.51 | 1.58 | 75% | — | — |
| 3 Years | 17.3% | 15.5% | -8.3% | 42.0% | 0.93 | 3.88 | 93% | — | — |
| 5 Years | 16.3% | 13.6% | -4.2% | 37.9% | 1.03 | 5.69 | 98% | — | — |
| 10 Years | 16.5% | 17.0% | 11.8% | 20.0% | 5.37 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +19.31 | 0.99 | 106.1% | 82.0% | 16.5% | -2.9% |
| 3 Years | +19.08 | 1.08 | 116.5% | 93.8% | 26.9% | 7.8% |
| 5 Years | +16.05 | 0.95 | 99.7% | 80.3% | 23.8% | 7.8% |
| 7 Years | +12.26 | 0.92 | 96.3% | 83.4% | 23.7% | 11.8% |
| 10 Years | +7.60 | 0.93 | 95.1% | 85.9% | 18.1% | 10.8% |
| 12 Years | +6.05 | 0.94 | 95.8% | 88.4% | 15.6% | 9.8% |
| 15 Years | +4.84 | 0.96 | 97.9% | 91.5% | 14.4% | 9.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Tata Motors Passenger Vehicles Ltd. | 3.64% |
| 2 | Tata Motors Ltd. | 3.60% |
| 3 | Garware Hi-Tech Films Ltd. | 3.58% |
| 4 | The Phoenix Mills Ltd. | 3.42% |
| 5 | Larsen & Toubro Ltd. | 3.30% |
| 6 | Tata Power Company Ltd. | 2.86% |
| 7 | KSH International Ltd. | 2.70% |
| 8 | Carraro India Ltd. | 2.65% |
| 9 | NTPC Ltd. | 2.53% |
| 10 | Bharti Airtel Ltd. | 2.46% |