EquityLarge & Mid Cap FundDirectGrowthVery High

LIC MF Large & Mid Cap Fund

Q: What is the NAV of LIC MF Large & Mid Cap Fund?

As of 05 Oct 2026, the NAV of LIC MF Large & Mid Cap Fund is ₹43.26 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has LIC MF Large & Mid Cap Fund delivered?

LIC MF Large & Mid Cap Fund has returned -2.67% over 1 year, +12.36% per year over 3 years, +10.07% per year over 5 years and +13.44% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund charges an expense ratio of 1.45% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund's largest holdings are AU Small Finance Bank Ltd. (4.1%), Eicher Motors Ltd. (3.9%), Persistent Systems Ltd. (3.9%), CG Power and Industrial Solutions Ltd. (3.6%) and InterGlobe Aviation Ltd. (3.3%). Holdings are disclosed monthly and change over time.

Q: How risky is LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.8% and its worst peak-to-trough fall in our sample was -33.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.37 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. LIC MF Large & Mid Cap Fund's 0.37 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund is benchmarked against the Nifty LargeMidcap 250 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund is managed by Sudhanshu Asthana at LIC.

Q: How is LIC MF Large & Mid Cap Fund taxed?

LIC MF Large & Mid Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

LIC Mutual Fund · Best Large & Mid Cap Mutual Funds

NAV

₹43.26

+0.95% 1D

as of 05 Oct 2026

This is the Direct plan of LIC MF Large & Mid Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

Compare SIP calculator

Performance

-3.07%absolute

52-week rangePrev NAV ₹42.86

Latest ₹43.26

Low ₹39.3852nd percentile of its 52-week rangeHigh ₹46.80

Scorecard

★★☆☆☆2/5 vs 26 of 35 Large & Mid Cap Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Large & Mid Cap Fund (same plan and option). 26 of the 35 Large & Mid Cap Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +12.36% · ranks 15 of 26 Large & Mid Cap Funds

RiskModerate

Volatility 15.8% vs 14.6% category avg

CostHigh

1.4% expense vs 1.2% category avg

ConsistencyHigh

99% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Consistent — positive in 99% of rolling 3-year windows

Concerns

Trails the Large & Mid Cap Fund average on 3M/6M/1Y — 1Y by 3.16pp
3-year return (+12.36%) trails the Large & Mid Cap Fund average (+13.03%)
5-year return (+10.07%) trails the Large & Mid Cap Fund average (+11.70%)
Weaker risk-adjusted returns — Sharpe 0.37 below the Large & Mid Cap Fund average of 0.43
High expense ratio (1.45%) vs the Large & Mid Cap Fund average of 1.17%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.45%

Category 1.17%▲0.28%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

41.61

Category 27.60▲14.01

Excess return per unit of total volatility (rf = 6.5%)

0.37

Category 0.43▼0.06

Scheme Info

Definitions

Plan

Direct · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

12% of the units allotted shall be redeemed or switched out without any exit load, on or before completion of 3 months from the date of allotment of units., 1% on remaining units if redeemed or switched out on or before completion of 3 months from the date of allotment of units. , Nil, if redeemed or switched out after completion of 3 months from the date of allotment of units.

Up to 1.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹1,000

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

Nifty LargeMidcap 250 TRI

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

26 Feb 2015

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-5.59%

Absolute return over the last 3 months (not annualized)

-4.68%

Absolute return over the last 6 months (not annualized)

+7.26%

Absolute return since 1 Jan of this year (not annualized)

-4.21%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-2.67%

3-year annualized return (CAGR)

+12.36%

5-year annualized return (CAGR)

+10.07%

10-year annualized return (CAGR)

+13.55%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+13.44%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.78%

Excess return per unit of total volatility (rf = 6.5%)

0.37

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.50

Largest peak-to-trough decline over full history

-33.92%

Benchmark ratios (vs Nifty Midcap 150 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty Midcap 150 TRI

-0.94%

Sensitivity to Nifty Midcap 150 TRI moves; 1 = moves with the index

0.91

How much of the fund's movement Nifty Midcap 150 TRI explains

93.3%

Excess return per unit of beta (market risk)

6.29

Active return over the benchmark per unit of tracking error

-0.35

Annualized std dev of fund-minus-benchmark returns

4.85%

Fund's share of benchmark gains in up months (100 = matches index)

91.5%

Fund's share of benchmark losses in down months (lower is better)

94.1%

Computed vs the Nifty Midcap 150 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Large & Mid Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-5.59%	-5.18%	-0.41%
3M abs	-4.68%	-3.59%	-1.09%
6M abs	+7.26%	+9.69%	-2.43%
1Y CAGR	-2.67%	+0.49%	-3.16%
3Y CAGR	+12.36%	+13.03%	-0.67%
5Y CAGR	+10.07%	+11.70%	-1.63%

Category average across peers in Large & Mid Cap Fund (up to 35 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 35 peers in Large & Mid Cap Fund

1Y return

-2.67%

Beats 21.9% · rank #26

3Y return

+12.36%

Beats 44% · rank #15

5Y return

+10.07%

Beats 24% · rank #20

Sharpe

0.37

Beats 32% · rank #18

Sortino

0.50

Beats 32% · rank #17

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.59L

Absolute

+26.58%

XIRR

+9.66%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into LIC MF Large & Mid Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty Midcap 150 TRI	Diff
2026part	-4.21%	-1.81%	-2.40%
2025	+1.55%	+6.24%	-4.69%
2024	+29.62%	+24.74%	+4.88%
2023	+28.25%	+45.27%	-17.02%
2022	-0.84%	+4.09%	-4.93%
2021	+35.49%	+48.31%	-12.82%
2020	+16.05%	+26.10%	-10.05%
2019	+12.19%	—	—
2018	-3.43%	—	—
2017	+42.55%	—	—

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Expense ratio down: 1.56% → 1.45%
02 Oct 2026

History points

2,856

Expense ratio

1.45%

AUM

₹2,984Cr

Portfolio turnover

137%

Exit load

P/E ratio

41.6

P/B ratio

9.2

Avg market cap

₹1,52,100Cr

P/E & P/B are portfolio-weighted harmonic means across 34 of 40 equity holdings (83% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Large & Mid Cap Fund

Compare all


LIC MF Large & Mid Cap FundThis fund LIC · Direct · Growth	★★☆☆☆	-2.67%	+12.36%	+10.07%	41.61	1.45%	—
Invesco India Large & Mid Cap Fund Invesco · Direct · Growth	★★★★★	+6.12%	+21.40%	+15.88%	42.81	0.79%	—
Motilal Oswal Large and Midcap Fund Motilal Oswal · Direct · Growth	★★★★☆	+5.62%	+21.20%	+18.26%	38.81	0.89%	₹17,050Cr
HSBC Large & Mid Cap Fund HSBC · Direct · Growth	★★★☆☆	+7.65%	+16.77%	+13.52%	31.22	1.34%	—
Bandhan Large & Mid Cap Fund Bandhan · Direct · Growth	★★★★★	+1.38%	+16.67%	+15.58%	19.23	1.15%	—
Quant Large & Mid Cap Fund quant · Direct · Growth	★★★☆☆	+7.99%	+14.58%	+14.54%	32.31	1.21%	—

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap41.0%
Mid cap43.1%
Small cap15.8%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity98.52%
Cash & Equivalents1.48%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

AU Small Finance Bank Ltd.

4.12%

Eicher Motors Ltd.

3.93%

Persistent Systems Ltd.

3.89%

CG Power and Industrial Solutions Ltd.

3.59%

InterGlobe Aviation Ltd.

3.31%

Bajaj Finance Ltd.

3.22%

FSN E-Commerce Ventures Ltd.

3.18%

Cartrade Tech Ltd.

3.13%

Aditya Birla Capital Ltd.

3.02%

Apollo Hospitals Enterprise Ltd.

2.92%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
LIC MF Balanced Advantage Fund LIC · Dynamic Asset Allocation or Balanced Advantage	38.1% of 78% equity	★★☆☆☆	1.43%	+7.90%
Mahindra Manulife Innovation Opportunities Fund Mahindra Manulife · Sectoral/ Thematic	34.3%	—	0.98%	—
LIC MF Flexi Cap Fund LIC · Flexi Cap Fund	33.1%	★☆☆☆☆	1.80%	+10.13%
JM Large & Mid Cap Fund JM Financial · Large & Mid Cap Fund	31.5%	★★★★☆	1.04%	—
LIC MF Mid Cap Fund LIC · Mid Cap Fund	30.7%	★☆☆☆☆	1.99%	+15.11%
TRUSTMF Large & Midcap Fund Trust · Large & Mid Cap Fund	30.3%	—	2.28%	—
LIC MF Multi Asset Allocation Fund LIC · Multi Asset Allocation	29.9% of 69% equity	★☆☆☆☆	1.07%	—
LIC MF Conservative Hybrid Fund LIC · Conservative Hybrid Fund	29.7% of 18% equity	★★☆☆☆	1.68%	+6.39%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 2.03% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

PB Fintech LimitedShort-term · Stage I2.03%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-33.9%20 Feb 2020 → 23 Mar 2020
Fell over 32 days, back to the old high on 17 Nov 2020 — 8 months under water after the low.
-22.1%05 Aug 2015 → 25 Feb 2016
Fell over 7 months, back to the old high on 28 Jul 2016 — 5 months under water after the low.
-18.7%27 Sep 2024 → 28 Feb 2025
Fell over 5 months, back to the old high on 05 Aug 2026 — 17 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

LIC Mutual Fund is sponsored by the Life Insurance Corporation of India and has been in business since 1989. It absorbed IDBI Mutual Fund's schemes in 2023 and runs a mix of equity, debt and index funds.

Launched

19 Apr 1994

Total AUM

₹49,535Cr+6.6% QoQ

Avg AUM · April - June 2026

Website

licmf.com

Fund Managers

SASudhanshu AsthanaManaging since 07 Apr 2026

Role

Chief Investment Officer Equity

Total experience

26 years

Education

• Diploma In Investment - Management, NMIMS Mumbai • M.A. Economics, Mumbai University

Experience

+ • Presently Chief Investment Officer – Equity, LIC Mutual Fund Asset Management Limited th (11 June 2026 till date) • Head – Equity - LIC Mutual Fund Asset Management Limited th th (16 March 2026 – 10 June 2026) • Chief Business Officer & Portfolio Manager – Electrum Portfolio Managers Private Ltd- (November 2024 – February 2026) • Designated Partner – Trivarga Business Consultancy LLP (December 2021- January 2025) • Fund Manager (Equity) - UTI Asset Management Company Limited (April 2021 – November 2021) • CEO & CIO - Tamohara Investment Managers Private Limited (August 2016 - April 2021) • Senior Fund Manager (Equity) – Axis Asset Management Company Limited (August 2009 – August 2016)

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Top holdings

AU Small Finance Bank Ltd.Eicher Motors Ltd.Persistent Systems Ltd.CG Power and Industrial Solutions Ltd.InterGlobe Aviation Ltd.Bajaj Finance Ltd.FSN E-Commerce Ventures Ltd.Cartrade Tech Ltd.Aditya Birla Capital Ltd.Apollo Hospitals Enterprise Ltd.Larsen & Toubro Ltd.Divi's Laboratories Ltd.

LIC in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

Run SIP calculator Add to compare

Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Large & Mid Cap funds

Large & mid cap funds keep at least 35% each in large-cap and mid-cap stocks. They aim to blend the stability of big companies with the higher growth — and higher swings — of mid caps.

Frequently asked questions

What is the NAV of LIC MF Large & Mid Cap Fund?

As of 05 Oct 2026, the NAV of LIC MF Large & Mid Cap Fund is ₹43.26 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has LIC MF Large & Mid Cap Fund delivered?

LIC MF Large & Mid Cap Fund has returned -2.67% over 1 year, +12.36% per year over 3 years, +10.07% per year over 5 years and +13.44% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund charges an expense ratio of 1.45% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund's largest holdings are AU Small Finance Bank Ltd. (4.1%), Eicher Motors Ltd. (3.9%), Persistent Systems Ltd. (3.9%), CG Power and Industrial Solutions Ltd. (3.6%) and InterGlobe Aviation Ltd. (3.3%). Holdings are disclosed monthly and change over time.

How risky is LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.8% and its worst peak-to-trough fall in our sample was -33.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.37 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. LIC MF Large & Mid Cap Fund's 0.37 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund is benchmarked against the Nifty LargeMidcap 250 TRI. Its alpha and beta on this page are measured against that index.

Who manages LIC MF Large & Mid Cap Fund?

LIC MF Large & Mid Cap Fund is managed by Sudhanshu Asthana at LIC.

How is LIC MF Large & Mid Cap Fund taxed?

LIC MF Large & Mid Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.