EquityLarge & Mid Cap FundDirectGrowthVery High

TRUSTMF Large & Midcap Fund

Q: What is the NAV of TRUSTMF Large & Midcap Fund?

As of 01 Oct 2026, the NAV of TRUSTMF Large & Midcap Fund is ₹9.63 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has TRUSTMF Large & Midcap Fund delivered?

TRUSTMF Large & Midcap Fund has returned -4.08% 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 TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund charges an expense ratio of 2.28% 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 TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund's largest holdings are ICICI Bank Limited (4.0%), Eternal Limited (3.1%), Titan Company Limited (3.0%), Dixon Technologies (India) Limited (2.5%) and Bharti Airtel Limited (2.4%). Holdings are disclosed monthly and change over time.

Q: How risky is TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.6% and its worst peak-to-trough fall in our sample was -7.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund is benchmarked against the Nifty LargeMidcap 250 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund is managed by Mihir Vora, Saurabh Kataria and Aakash Manghani at Trust.

Q: How is TRUSTMF Large & Midcap Fund taxed?

TRUSTMF Large & Midcap 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.

Trust Mutual Fund · Best Large & Mid Cap Mutual Funds

NAV

₹9.63

-1.23% 1D

as of 01 Oct 2026

This is the Direct plan of TRUSTMF Large & Midcap 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.

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Performance

-4.08%absolute

52-week rangePrev NAV ₹9.75

Latest ₹9.63

Low ₹9.630th percentile of its 52-week rangeHigh ₹10.39

Scorecard

Not rated

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. Not rated — this fund has no full year of NAV history yet. A rating needs at least a 1-year return to rank its performance against peers.

Performance—

Not enough Large & Mid Cap Fund peers to rank yet

RiskLow

Volatility 11.6% vs 14.8% category avg

CostHigh

2.3% expense vs 1.1% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

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

Strengths

Less volatile than its Large & Mid Cap Fund peers (11.6% vs 14.8%)

Concerns

High expense ratio (2.28%) vs the Large & Mid Cap Fund average of 1.15%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.28%

Category 1.15%▲1.13%

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

31.57

Category 27.88▲3.69

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

—

Category 0.39

Scheme Info

Definitions

Plan

Direct · Growth

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

None

1% - If redeemed/switched out within 180 days from the date of allotment. Nil - if redeemed/switched out after 180 days from the date of allotment.

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

₹1,000

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.

30 Jul 2026

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

Definitions

Absolute return over the last 1 month (not annualized)

-6.23%

Absolute return over the last 3 months (not annualized)

—

Absolute return over the last 6 months (not annualized)

—

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

-4.08%

Annualized returns (≥1Y — CAGR)

Definitions

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

—

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

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.

-4.08%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

11.61%

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

—

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

—

Largest peak-to-trough decline over full history

-7.31%

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

—

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

—

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

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

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

—

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

—

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	-6.23%	-5.89%	-0.34%
3M abs	—	-3.58%	—
6M abs	—	+9.01%	—
1Y CAGR	—	+0.43%	—
3Y CAGR	—	+12.56%	—
5Y CAGR	—	+11.92%	—

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.

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

₹20.00K

Current value

₹19.38K

Absolute

-3.12%

XIRR

-54.31%

Value vs. invested

ValueInvested

2 monthly installments of ₹10,000 into TRUSTMF Large & Midcap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Recent changes

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

Expense ratio down: 2.68% → 2.28%
02 Oct 2026

History points

Expense ratio

2.28%

Exit load

1% - If redeemed/switched out within 180 days from the date of allotment. Nil - if redeemed/switched out after 180 days from the date of allotment.

P/E ratio

31.6

P/B ratio

7.5

Avg market cap

₹2,19,234Cr

P/E & P/B are portfolio-weighted harmonic means across 60 of 71 equity holdings (85% 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


TRUSTMF Large & Midcap FundThis fund Trust · Direct · Growth	—	—	—	—	31.57	2.28%	—
Invesco India Large & Mid Cap Fund Invesco · Direct · Growth	★★★★★	+5.93%	+21.14%	+16.29%	42.79	0.79%	—
Motilal Oswal Large and Midcap Fund Motilal Oswal · Direct · Growth	★★★★☆	+5.56%	+20.48%	+18.20%	38.81	0.89%	₹17,050Cr
Bandhan Large & Mid Cap Fund Bandhan · Direct · Growth	★★★★★	+1.56%	+16.26%	+15.92%	19.23	1.15%	—
HSBC Large & Mid Cap Fund HSBC · Direct · Growth	★★★☆☆	+7.29%	+16.20%	+13.72%	31.19	1.34%	—
Axis Large & Mid Cap Fund Axis · Direct · Growth	★★★★★	+3.59%	+13.98%	+11.40%	31.23	0.83%	—

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 99% of the equity sleeve priced.

Large cap49.1%
Mid cap39.6%
Small cap11.3%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity96.06%
Cash & Equivalents3.94%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
TRUSTMF Flexi Cap Fund Trust · Flexi Cap Fund	69.9%	★★★★☆	1.74%	—
TRUSTMF Multi Cap Fund Trust · Multi Cap Fund	59.0%	★★★★★	1.82%	—
TRUSTMF Mid Cap Fund Trust · Mid Cap Fund	56.0%	—	1.93%	—
Groww Aggressive Hybrid Fund Groww · Aggressive Hybrid Fund	40.2% of 72% equity	★★☆☆☆	2.10%	+7.94%
Axis Large & Mid Cap Fund Axis · Large & Mid Cap Fund	39.6%	★★★★★	0.83%	+13.98%
Groww ELSS Tax Saver Fund Groww · ELSS	38.5%	★☆☆☆☆	1.52%	+7.74%
Axis Multicap Fund Axis · Multi Cap Fund	38.5%	★★★★★	1.00%	+18.29%
Helios Large & Mid Cap Fund Helios · Large & Mid Cap Fund	38.0%	★★★★☆	1.00%	—

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)

3 holdings — 1.88% 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 I1.04%
Welspun Corp LimitedLong-term · Stage I0.82%
Milky Mist Dairy Food LimitedLong-term · Stage IV0.02%

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.

-7.3%26 Aug 2026 → 01 Oct 2026
Still below that high — 36 days down, and no recovery yet.

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

TRUST Mutual Fund is run by TRUST Asset Management, part of the TRUST Group, a financial services firm with a fixed-income heritage. Its line-up leans heavily towards debt schemes.

Launched

06 Oct 2019

Total AUM

₹5,075Cr+19.3% QoQ

Avg AUM · April - June 2026

Website

trustmf.com

Fund Managers

MVMihir VoraStart date not disclosed

Role

Ms. Puja Trivedi Head - Compliance, Secretarial & Legal

Education

CFA - CFA Institute, USA PGDM - IIM, Lucknow Bachelor of Engineering - Maharaja Sayajirao University, Vadodara

Experience

Over 30 years of experience in Fund Management across various verticals in financial services industry, viz. Mutual 2025 Funds, Insurance, Sovereign Funds. From October 2023 till date: Chief Investment Officer, TRUST Asset Management Private Limited Sept. 2014 - Sept. 2023: Chief Investment Officer, Max Life Insurance Company April 2012 - September 2014: Chief Investment Officer (Offshore), Birla Sunlife Asset Management

Funds managed (4)

All schemes Mihir Vora runs →

SKSaurabh KatariaStart date not disclosed

Experience

Over 20 years of experience mainly in the Financial Services Industry. April 2026 till Date Head - Equity, Trust Asset Management Private Limited. July 2019 - April 2026 Sr. Fund Manager, Axis Max Life Insurance. August 2009 - June 2019 Fund Manager, BOI AXA Mutual Fund.

AMAakash ManghaniStart date not disclosed

Role

Mr. Vardhman Kochar Chief Risk Officer

Education

MBA – SP Jain School of Global Management, B.E. – Sardar Patel College of Engineering, University of Mumbai

Experience

Over 15 years of experience in equities, Since Inception: with expertise in research and portfolio i.e. October 11, management, demonstrating a keen analytical focus across diverse sectors. From February 2024 till date: Fund Manager – Equity, TRUST Asset Management Private Limited July 2022 - February 2024: Fund Manager, ICICI Prudential Life Insurance July 2019 - July 2022: Fund Manager, BOI AXA Investment Managers Private Limited December 2017 - July 2019: Senior Equity Research Analyst – Indian Equities, BOI AXA Investment Managers Private Limited March 2015 - November 2017: Equity Research Analyst – Indian Equities, BOI AXA Investment Managers Private Limited

Funds managed (3)

All schemes Aakash Manghani runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. 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

Fund managers

Mihir Vora Aakash Manghani

Top holdings

ICICI Bank Limited Eternal Limited Titan Company Limited Dixon Technologies (India) Limited Bharti Airtel Limited Shriram Finance Limited Bajaj Finance Limited Lenskart Solutions Limited Kotak Mahindra Bank Limited One 97 Communications Limited Larsen & Toubro Limited Muthoot Finance Limited

Trust 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.

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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.

From the blog

New mutual funds in July 2026: 17 launches
07 Aug 2026
17 new schemes published a first NAV in July 2026, up from 5 in June. Life-cycle funds, multi-asset funds and momentum index products led the list.

Frequently asked questions

What is the NAV of TRUSTMF Large & Midcap Fund?

As of 01 Oct 2026, the NAV of TRUSTMF Large & Midcap Fund is ₹9.63 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has TRUSTMF Large & Midcap Fund delivered?

TRUSTMF Large & Midcap Fund has returned -4.08% 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 TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund charges an expense ratio of 2.28% 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 TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund's largest holdings are ICICI Bank Limited (4.0%), Eternal Limited (3.1%), Titan Company Limited (3.0%), Dixon Technologies (India) Limited (2.5%) and Bharti Airtel Limited (2.4%). Holdings are disclosed monthly and change over time.

How risky is TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.6% and its worst peak-to-trough fall in our sample was -7.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund is benchmarked against the Nifty LargeMidcap 250 TRI. Its alpha and beta on this page are measured against that index.

Who manages TRUSTMF Large & Midcap Fund?

TRUSTMF Large & Midcap Fund is managed by Mihir Vora, Saurabh Kataria and Aakash Manghani at Trust.

How is TRUSTMF Large & Midcap Fund taxed?

TRUSTMF Large & Midcap 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.

TRUSTMF Large & Midcap Fund

Performance

Scorecard

Strengths & concerns

Strengths

Concerns

Key Metrics

Scheme Info

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

Annualized returns (≥1Y — CAGR)

Fund vs category average (Large & Mid Cap Fund)

Backtest this fund

Recent changes

Taxation

Peer comparison · Large & Mid Cap Fund

Market-cap allocation · AMFI bands, Jul 2026

Asset allocation

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

🚩Holdings under NSE surveillance (ASM)

AMC Profile

Fund Managers

Explore from here

Trust in the news

About Large & Mid Cap funds

From the blog

New mutual funds in July 2026: 17 launches

Frequently asked questions

Peer comparison · Large & Mid Cap Fund

Market-cap allocation · AMFI bands, Jul 2026

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

🚩Holdings under NSE surveillance (ASM)