UTI Large and Mid Cap Fund

UTI Large and Mid Cap Fund has delivered consistent outperformance versus the NIFTY 50, generating positive alpha across all displayed periods (e.g., 7.53% over 3Y and 3.47% over 10Y). On a SIP basis, its XIRR of 18.45% (3Y) and 17.95% (5Y) modestly trails the category average of 18.19% and 18.04% respectively, and it lags category peers at longer horizons (16.63% vs 16.82% over 10Y). Long-term lump-sum CAGR of 12.65% (12Y) versus the benchmark's 9.03% confirms a durable edge over the index.

The fund shows defensive characteristics with downside capture consistently below 88% and upside capture in the 92-97% range across periods, meaning it loses less than the index in corrections. Beta of roughly 0.89-0.94 indicates slightly lower volatility than the NIFTY 50, supporting solid risk-adjusted returns. Investors should note 7 drawdown events exceeding 10%, and the extended max drawdown duration of 790 days (with 256 days to recovery), which highlights the patience required during prolonged corrections.

Detailed holdings and sector allocation data are not provided in this dataset, so concentration and diversification cannot be assessed from the capture ratios alone. As a Large & Mid Cap category fund, it must hold at least 35% each in large-cap and mid-cap stocks, giving it structural exposure to both stability and growth segments. Its beta below 1 and subdued downside capture suggest a portfolio weighted toward resilient large-cap names rather than aggressive small/mid-cap bets.

The fund's SIP XIRR slightly trails category averages at nearly every horizon: 11.58% vs 11.01% (1Y ahead), 18.45% vs 18.19% (3Y ahead), but 17.95% vs 18.04% (5Y behind) and 16.63% vs 16.82% (10Y behind). Returns show meaningful calendar-year dispersion, from 42.06% (2014) and 40.39% (2021) to losses of 7.26% (2018) and 7.44% (2026 YTD), typical of the category. Overall, it is a mid-pack category performer with superior benchmark-relative alpha.

This fund suits investors seeking diversified equity exposure with lower downside sensitivity than a pure mid-cap fund, given its 84-88% downside capture. A minimum horizon of 7 years is advisable, as evidenced by the 790-day maximum drawdown duration and the need to ride out multi-year corrections. It is appropriate for investors with moderate-to-high risk tolerance who want benchmark-beating returns but can accept annual return swings of -7% to +42%.

• Consistent positive alpha versus NIFTY 50 across all displayed periods, peaking at 7.76% over 7 years
• Defensive downside capture of 84.50-88.32% across all periods, limiting losses relative to the benchmark in corrections
• Strong long-term lump-sum compounding with 12Y CAGR of 12.65% versus the benchmark's 9.03%

• SIP XIRR trails category averages at the 5Y, 7Y, 10Y, and 12Y horizons, indicating mid-pack returns among large and mid-cap peers
• Seven drawdown events exceeding 10% and a prolonged 790-day maximum drawdown duration requiring significant investor patience