Nippon India Large Cap Fund currently stands at the top of its category based on 5-year returns. Its performance over the years has been impressive — the fund has delivered a 5-year annualised return (CAGR) of 21.88%, which is almost 5.5% higher than its benchmark, the BSE 100 TRI.
With an asset base of nearly ₹50,000 crore, the fund reflects strong investor confidence. It has also earned a 5-star rating from both Crisil and Value Research, further boosting its credibility.
Why large-cap funds attract investors
Large-cap funds are usually preferred because they offer more stability. While they may not deliver as high returns as mid-cap or small-cap funds, they tend to manage market ups and downs better. In this case, the Nippon India Large Cap Fund has shown not just stability but also exceptional returns over the last 5 years.
A standout 5-year performance
The direct plan of the fund has given an average return of 21.88% annually over the past five years. In comparison, its benchmark — the BSE 100 TRI — returned 16.41% during the same period. This means the fund has beaten its benchmark by 5.47% every year on average.
5-year CAGR (direct plan): 21.88%
5-year CAGR of benchmark: 16.41%
A clear edge over the benchmark
The fund has outperformed its benchmark by 5.47% on an annual basis. For a large-cap scheme, maintaining such a gap over five years is noteworthy. It shows the fund managers have made smart stock picks and managed the portfolio well. Before looking at the top 10 holdings, let’s see how investors have benefited through lump-sum and SIP routes.
How a lump-sum investment performed
Someone who invested ₹1 lakh in the direct plan of Nippon India Large Cap Fund five years ago would see their money grow to around ₹2.87 lakh today.
Investment made 5 years ago: ₹1,00,000
Current value: ₹2,87,280
(Source: Fund website, NAV ₹105.6844 as of November 28, 2025)
SIP investors have gained too
Those who invested regularly through a ₹10,000 monthly SIP over the past five years have also seen strong results.
Monthly SIP: ₹10,000
Duration: 5 years
Total invested: ₹6,00,000
Annualised return: 18.69%
Current value: ₹9,55,617
(Source: Value Research)
Top stocks in the fund portfolio
As of October 31, 2026, the fund mainly invests in banking, IT, consumer, and capital goods sectors. The top 10 stock holdings are:
HDFC Bank – 8.36%
Reliance Industries – 6.25%
ICICI Bank – 4.54%
State Bank of India – 4.46%
Axis Bank – 4.29%
Larsen & Toubro – 3.63%
Bajaj Finance – 3.13%
ITC – 3.04%
Infosys – 3.03%
GE Vernova T&D India – 2.83%
The fund’s portfolio shows a focus on strong business models and large-cap companies. The highest exposure is in the banking and financial sector at 23.15%, followed by 6.83% in IT-software. Other sectors in the top 10 include automobiles, petroleum products, retail, diversified FMCG, finance, pharmaceuticals & biotechnology, electrical equipment, and power, each contributing around 5–6% of the portfolio.
Key details about the fund
Regular plan launch date: August 8, 2007
Direct plan launch date: January 1, 2013
AUM: ₹49,660 crore (as of December 8, 2025)
Crisil rating: 5-star
Value Research rating: 5-star
Expense ratio: Direct plan 0.67%, Regular plan 1.49%
Fund managers: Bhavik Dave, Sailesh Raj Bhan
Risk level: Very high
(Source: AMFI, Fund factsheet)
Who should invest in this fund
While the 5-year returns of Nippon India Large Cap Fund look attractive, there is no guarantee the same performance will continue in the future. Large-cap funds are generally less risky than mid-cap or small-cap funds, but being a pure equity fund, its returns depend entirely on market performance. That is why it is rated as “very high risk” on the riskometer.
Investors should assess their risk-taking ability before investing. For equity funds, it is best to invest for the long term, at least 5 years. SIP investments help in averaging costs and reducing the impact of market volatility, along with the benefit of compounding.
(Disclaimer: This article is for information purposes only and is not investment advice. Any investment decision should be made after gathering full information and consulting a SEBI-registered investment advisor.)
Note: This content has been translated using AI. It has also been reviewed by FE Editors for accuracy.