LIC MF Large and Mid Cap Fund
Direct · GrowthAI Summary
LIC MF Large and Mid Cap Fund has posted SIP XIRR of 17.14% over 3Y and 17.34% over 5Y, trailing the category averages of 18.19% and 18.04% respectively. However, it has consistently outperformed the NIFTY 50, delivering alpha of 5.57% over 3Y and 3.97% over 5Y with positive alpha across all measured periods. Lump-sum long-term results are also solid, with a 15Y Fund CAGR of 10.02% versus the benchmark's 6.59%.
The fund shows downside capture well below 100% across all periods (82-95%), meaning it has historically fallen less than the NIFTY 50 during declines — the 5Y downside capture of 88.29% is particularly notable. Beta declined from around 1.0 in the 1Y window to about 0.85 over longer horizons, reflecting a shift toward lower market sensitivity. The stable Calmar ratios near 0.47-0.49 across durations suggest consistent, moderate risk-adjusted returns, though 9 drawdown events exceeding 10% confirm meaningful equity volatility.
The 37-stock portfolio is well diversified, with the top 10 holdings spread across banks, IT, autos, electrical equipment, retail, and pharma, and no single stock exceeding 4.16% of NAV. Sector concentration is moderate, led by Finance at 11.1% followed by Electrical Equipment at 9.8% and Banks at 9.3%. Exposure to names like Cartrade Tech, FSN E-Commerce (Nykaa), and CG Power indicates meaningful mid-cap and growth-leaning positioning within the large and mid cap mandate.
The fund's 10Y SIP XIRR of 16.14% sits below the category average of 16.82%, and its 12Y comparison (benchmark-based) shows a Fund CAGR of 12.67% versus the category SIP XIRR of 16.37%, indicating middling positioning among peers. Its strength lies in downside control rather than top-quartile returns, with consistent alpha versus the NIFTY 50 across 1Y through 15Y windows. Recent calendar-year performance has been weak, with returns of -7.33% in 2026 and just 0.79% in 2025 following strong gains in 2023 and 2024.
This fund suits investors seeking large and mid cap exposure with a patient horizon of at least 5-7 years, given the volatility implied by multiple double-digit drawdowns. It is appropriate for those who prioritize capital preservation in downturns over maximal upside participation, as evidenced by capture ratios of roughly 88% upside and 83% downside over 10Y. A moderate-to-high risk tolerance is still required since returns are uneven year to year, and SIP investing would help smooth the entry point given current weak momentum.
- Consistent positive alpha versus NIFTY 50 across all periods, including 5.57% over 3Y and 15Y alpha of 3.44%
- Strong downside protection with 10Y downside capture of just 83.51% against the benchmark
- Diversified 37-stock portfolio with no holding above 4.16% of NAV and a reasonable 0.9% expense ratio for the direct plan
- SIP XIRR trails category averages across most horizons, including 17.14% over 3Y versus 18.19% for the category
- Recent performance is weak, with negative calendar-year returns in 2026 (-7.33%) and near-flat 2025 (0.79%)
Generated on 02-11-2026, 3:33 AM. 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 | ₹12.66 L | 17.3% | -46.8% | 77.6% |
| 3 Years | ₹36.00 L | ₹45.67 L | 16.3% | -15.1% | 37.1% |
| 5 Years | ₹60.00 L | ₹90.40 L | 16.6% | -2.3% | 28.5% |
| 7 Years | ₹84.00 L | ₹1.53 Cr | 17.3% | 11.6% | 23.6% |
| 10 Years | ₹1.20 Cr | ₹2.81 Cr | 16.2% | 12.6% | 19.4% |
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 | 17.3% | 14.3% | 11.0% | +3.0% |
| 3 Years | 16.3% | 11.0% | 18.2% | +5.3% |
| 5 Years | 16.6% | 10.4% | 18.0% | +6.2% |
| 7 Years | 17.3% | 10.6% | 17.1% | +6.7% |
| 10 Years | 16.2% | 11.4% | 16.8% | +4.7% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 16.7% | 12.3% | -21.8% | 75.5% | 0.54 | 1.82 | 80% | — | — |
| 3 Years | 16.3% | 17.0% | -1.8% | 28.0% | 1.78 | 8.29 | 99% | — | — |
| 5 Years | 16.3% | 16.6% | 4.0% | 28.1% | 2.07 | 61.44 | 100% | — | — |
| 10 Years | 15.9% | 16.1% | 13.0% | 18.2% | 9.80 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +2.18 | 1.00 | 99.3% | 95.5% | -6.9% | -9.0% |
| 3 Years | +5.27 | 1.02 | 102.0% | 95.0% | 12.3% | 7.0% |
| 5 Years | +3.78 | 0.94 | 93.8% | 88.3% | 9.4% | 5.5% |
| 7 Years | +4.75 | 0.84 | 88.2% | 82.5% | 14.3% | 10.1% |
| 10 Years | +3.63 | 0.85 | 88.3% | 83.6% | 13.7% | 10.7% |
| 12 Years | +4.64 | 0.85 | 88.3% | 82.2% | 12.8% | 8.5% |
| 15 Years | +3.44 | 0.85 | 88.3% | 82.2% | 10.1% | 6.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | AU Small Finance Bank Ltd. | 4.16% |
| 2 | Persistent Systems Ltd. | 3.99% |
| 3 | Eicher Motors Ltd. | 3.83% |
| 4 | CG Power and Industrial Solutions Ltd. | 3.63% |
| 5 | InterGlobe Aviation Ltd. | 3.42% |
| 6 | Cartrade Tech Ltd. | 3.29% |
| 7 | Bajaj Finance Ltd. | 3.17% |
| 8 | FSN E-Commerce Ventures Ltd. | 3.16% |
| 9 | Aditya Birla Capital Ltd. | 3.05% |
| 10 | Divi's Laboratories Ltd. | 3.02% |