When it comes to investing, stability and reliable returns in the long run are the most important aspects. This is why large-cap mutual funds are considered to be the most popular choice among investors. These funds invest in the large and stable companies — those which have seen many cycles of business ups and downs, recession-boom over decades and have maintained themselves in a strong position every time.
When you invest in large-cap funds, you are putting your money in companies with healthy balance sheets, strong management and stable cash flows. And if a fund has a 20-year track record, what can be a better guarantee of trust than this. Only two funds have given more than 20 times return in 20 years.
According to research data (till June 30, 2025) from FundsIndia and Ace MF, there are only two large-cap funds in the country that have given more than 20 times return in the last 20 years. These funds are: Aditya Birla Sun Life Large Cap Fund and HDFC Large Cap Fund.
Both these funds turned Rs 1 lakh into more than Rs 20 lakh in 20 years. Aditya Birla Sun Life Large Cap Fund gave a 21.1 times return with a 16.5% CAGR over the last 20 years, and HDFC Large Cap Fund gave a 20.1 times return at a 16.2% CAGR in this period.
Excellent performance in 10 and 15 years too
| Fund Name | 10-Year CAGR | 15-Year CAGR | Money Multiplied in 10 Years | Money Multiplied in 15 Years |
| Aditya Birla Sun Life Large Cap Fund | 12.60% | 13.30% | 3.3 times | 6.5 times |
| HDFC Large Cap Fund | 13.10% | 12.60% | 3.4 times | 5.9 times |
(Source: Ace MF, FundsIndia Research)
Not just 20 years, but the performance of these funds has been commendable in the last 10 and 15 years too. Aditya Birla Sun Life Large Cap Fund has delivered 12.6% annualised returns in 10 years and 13.3% annualised returns in 15 years.
That is, if you had invested Rs 1 lakh in these funds 10 years ago, it would have become about Rs 3.3 to 3.4 lakh today. And in 15 years, the same amount would have reached 6.5 lakh.
Importance of staying invested for long-term
The biggest advantage of investing in large-cap funds is low volatility and the magic of compounding over time. Over a period as long as 20 years, these funds are not just dependent on market movements, but have proven themselves many times.
Past returns are not a guarantee of future returns
Although both these funds have performed well so far, investors should also understand that past returns are not a guarantee of the future. The performance of the fund depends on market conditions, the direction of the economy and the fundamentals of the company. Therefore, it is important to take any investment decision thoughtfully and according to your risk profile.
Not only the returns of these funds, other parameters are also strong
Aditya Birla Sun Life Large Cap Fund and HDFC Large Cap Fund have not only given excellent returns in the long term, but have also performed strongly on other parameters. Aspects like the experience of the fund manager, stable portfolio, low volatility, strategy of investing at the right valuation and relatively low expense ratio also make them stronger. Here are more details about the funds.
Aditya Birla Sun Life Large Cap Fund
Aditya Birla Sun Life Large Cap Fund – an open-ended equity mutual fund – was launched on August 30, 2002. It primarily invests in the top 100 companies and tracks the NIFTY 100 TRI as its benchmark. Since inception, the fund has delivered an impressive 18.94% annualised return, making it a strong option for long-term investors.
As of June 30, 2025, the fund manages assets worth Rs 30,927 crore. The expense ratio stands at 1.63%. According to the riskometer, this fund falls under the ‘Very High’ risk category, meaning it is best suited for investors with a long investment horizon and a higher risk tolerance.
Portfolio:
As of the latest portfolio data, Aditya Birla Sun Life Large Cap Fund has a well-diversified exposure to some of India’s largest and most trusted companies. HDFC Bank holds the highest weight in the portfolio at 8.21%, followed by ICICI Bank at 7.73%. Among other major allocations, Reliance Industries accounts for 5.23%, Infosys for 5.20%, Larsen & Toubro for 4.36%, and Bharti Airtel for 3.86%.
HDFC Large Cap Fund
HDFC Large Cap Fund is one of the oldest and most established equity mutual funds in India. It was launched on September 4, 1996, and is an open-ended scheme that primarily invests in large-cap companies. The fund tracks the NIFTY 100 TRI as its benchmark. Since inception, it has delivered a strong 18.68% annualised return.
As of June 30, 2025, the fund manages total assets worth Rs 38,905 crore. Its expense ratio stands at 1.59%. The fund is rated ‘Very High’ on the riskometer, indicating that it is suitable for investors with a long-term view.
Portfolio:
As per the latest available data, HDFC Large Cap Fund holds a concentrated portfolio of high-quality blue-chip stocks. HDFC Bank has the highest allocation at 9.84%, closely followed by ICICI Bank at 9.67%. The fund also has significant exposure to Bharti Airtel with 6.16%, Reliance Industries with 5.73%, and Axis Bank with 5%.
Summing up…
If you want stability in your portfolio as well as wealth creation in the long term, large-cap funds can prove to be a reliable option. Especially those funds that have a track record of 20 years and have seen many ups and downs. However, it is very important to keep in mind your needs, risk-taking capacity and financial goals before investing.