These actively-managed large & mid cap schemes are benchmarked against NIFTY LargeMidcap 250 – TRI and S&P BSE 250 LargeMidCap Index – TRI. NIFTY LargeMidcap 250 – TRI and S&P BSE 250 LargeMidCap Index – TRI gave 18.23% and 11.83% respectively in 2023.
Top five schemes by AUM or assets
Mirae Asset Emerging Bluechip Fund, the largest scheme in the category based on assets managed, offered 17.12% and failed to beat its benchmark (NIFTY LargeMidcap 250 – TRI). The scheme manages assets of Rs 29,024.00 crore.
Canara Robeco Emerging Equities Fund gave 12.82%, compared to 18.23% by its benchmark (NIFTY LargeMidcap 250 – TRI). The scheme manages assets of Rs 18,063.42 crore. SBI Large & Midcap Fund which manages assets of Rs 15,705.95 crore gave 14.37% in 2023 so far. The scheme failed to beat its benchmark (NIFTY LargeMidcap 250 – TRI).
Kotak Equity Opportunities Fund and HDFC Large and Mid Cap Fund gave 18.64% and 22.22% respectively and managed to beat their benchmark (NIFTY LargeMidcap 250 – TRI). Kotak Equity Opportunities Fund and HDFC Large and Mid Cap Fund manage assets of Rs 15,500.47 crore and Rs 11,810.08 crore respectively.
Around six schemes gave more than 20% in 2023. Motilal Oswal Large & Midcap Fund, the topper in the category, gave 24.15%. HDFC Large and Mid Cap Fund and UTI Core Equity Fund gave around 22%. HSBC Large & Mid Cap Fund and Axis Growth Opportunities Fund offered 21%. Bandhan Core Equity Fund gave 20.24%. Canara Robeco Emerging Equities Fund offered the lowest return of around 12.82%.
Quarterly performance
ETMutualFunds also looked at the performance of large & mid cap funds during July-September quarter in 2023. These actively-managed large & mid cap schemes have offered an average return of around 7% in July-September quarter in 2023. There were around 26 schemes in the category and 11 schemes managed to beat their respective benchmarks. Around 15 schemes failed to beat their respective benchmarks.
All the schemes in the category offered single-digit returns during the July-September quarter. Bandhan Core Equity Fund, the topper in the category, gave around 9.92%. Quant Large & Mid Cap Fund gave 9.83%. Axis Growth Opportunities Fund gave the lowest return of around 3.70%
Note, the above exercise is not a recommendation. The purpose of this exercise was just to find out how large & mid cap schemes performed in 2023 so far. One should not make investment or redemption decisions based on the above exercise. One should always choose schemes based on risk appetite, investment horizon and goal. Past performance does not guarantee future returns.
We considered the regular and growth options.
Large & mid cap schemes are suitable for aggressive investors who are willing to invest in mid cap stocks. These schemes may have more exposure to large cap or mid cap stocks, based on the market conditions and the outlook of the fund manager. Large & mid cap schemes invest a minimum of 35% of total assets in large cap companies, and a minimum of 35% of total assets in mid cap stocks.
If you are looking for recommendations, see: Best large & mid cap funds to invest in 2023
