Axis Large Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 28, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Axis Large Cap Fund Direct Growth Plan is at a NAV of ₹69.25 as of 08 Sep 2026, with an AUM of ₹31,631 Cr. Its 1-year, 3-year and 5-year returns are -0.76%, 9.31% and 6.03%, respectively, and it sits in the High Risk bucket. Our view is that the fund has delivered a mixed journey: it has shown a steadier longer-term profile than its recent one-year result, but the latest phase has been uneven.
The portfolio is built around large, established businesses and the top holdings are led by banking names. That makes the fund better suited to investors who can stay invested through short-term swings and are looking for a large-cap core exposure rather than a smooth, low-volatility ride.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹69.25 as of 08 Sep 2026 |
| AUM | ₹31,631 Cr |
| Expense Ratio | 0.7% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | Nil for 10% of investments and 1% for remaining investments on or before 12M, Nil after 12M |
| Fund Managers | Shreyash Devalkar, Jayesh Sundar, Krishnaa N |
The fund is managed by Shreyash Devalkar, Jayesh Sundar and Krishnaa N.
Source data date: as of 08 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.09% | -3.86% |
| 3M | 5.9% | 1.69% |
| 1Y | -0.76% | -5.72% |
| 3Y | 9.31% | 6.3% |
| 5Y | 6.03% | 6.05% |
The recent pattern is better than the one-year return alone suggests. The fund’s one-month and one-year numbers were weak, but the three-month figure shows a clear rebound, which tells us the portfolio has been able to recover after a softer stretch.
Over the medium term, the story is stronger. The three-year return is comfortably ahead of the benchmark, while the five-year return sits almost exactly in line with it. That combination points to a fund that has generally kept pace with the large-cap market over a full cycle, even if it has not always done so smoothly.
The time pattern also suggests uneven compounding rather than a straight upward path. There were periods of drawdown and recovery, so investors should expect the fund to behave like an active large-cap portfolio that can move around before it settles into a longer-term trend.
Compared with the benchmark, the fund has been ahead over 3 years and essentially matched it over 5 years. The latest 1-year result is softer than both the 3-year and 5-year figures, so recent behaviour looks weaker than the broader trend.
Source data date: as of 08 Sep 2026
Should you BUY or HOLD Axis Large Cap?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Axis Large Cap? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Axis Large Cap Fund Direct Growth Plan | -0.76% | 9.31% | 6.03% |
| Quant Large Cap Fund Direct Growth Plan | 9.01% | 13.24% | Data not available |
| Taurus Large Cap Fund Direct Growth Plan | 8.36% | 12.98% | 10.51% |
| Bank of India Large Cap Fund Direct Growth Plan | 7.74% | 13.02% | 9.97% |
| Invesco India Largecap Fund Direct Growth Plan | 5.28% | 14.09% | 11.99% |
| Bandhan Large Cap Fund Direct Growth Plan | 3.45% | 13.33% | 10.9% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On a 1-year view, the fund trails all five peers listed here, while the stronger peer numbers show that the recent stretch has been the weak spot. The longer view is more balanced: its 3-year return is below several peers, but its 5-year return is still ahead of the funds with available 5-year figures for some comparisons and broadly close to the benchmark style outcome. That means the short-term and longer-term pictures do not tell the same story.
Source data date: as of 08 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Limited | Bank | 9.64% |
| HDFC Bank Limited | Bank | 8.4% |
| Bajaj Finance Limited | Finance | 5.55% |
| Bharti Airtel Limited | Telecom | 4.85% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 3.99% |
| Reliance Industries Limited | Crude Oil | 3.73% |
| Eternal Limited | Retailing | 3.64% |
| Larsen & Toubro Limited | Infrastructure | 3.38% |
| Clearing Corporation of India Ltd | Cash & Cash Equivalents and Net Assets | 3.17% |
| Sun Pharmaceutical Industries Limited | Healthcare | 3.09% |
The largest holding, ICICI Bank Limited, stands at 9.64%, which is a meaningful single-position weight for a large-cap fund. The tenth holding is 3.09%, so the weights fall away steadily rather than dropping off sharply after the first few names.
The top 10 holdings together account for approximately 49.44% of the portfolio, and the fund has 41 disclosed holdings in total. That suggests the portfolio is not a one-stock or even a handful-of-stocks story, but the leading positions may still have greater influence on return patterns than the longer tail.
We also see a clear tilt toward banks and other large, liquid businesses at the top of the list. In our view, that structure may help keep the portfolio anchored in familiar large-cap names, while still leaving room for active positioning across a wider set of holdings.
To see all holdings, visit the Axis Large Cap Fund Direct Growth Plan page
Source data date: as of 08 Sep 2026
Who should invest
This fund suits investors who can tolerate a High Risk large-cap equity allocation and who want to stay invested for at least a medium-to-long horizon. The return pattern shows that shorter periods can be choppy, while the 3-year and 5-year outcomes are more stable as a guide to the fund’s behaviour.
The main trade-off is between large-cap focus and return consistency. The portfolio is concentrated enough in leading positions to matter, but still broad enough to avoid relying on just a few stocks. Investors who want benchmark-like large-cap exposure with active swings may find that acceptable, while those seeking smoother near-term outcomes may not.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: Nil for 10% of investments and 1% for the remaining investments if units are sold within 12 months; no exit load after 12 months.
Source data date: as of 08 Sep 2026
Frequently asked questions
What is the current NAV of Axis Large Cap Fund Direct Growth Plan?
The current NAV is ₹69.25 as of 08 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are -0.76% for 1 year, 9.31% for 3 years and 6.03% for 5 years.
How does it compare with the benchmark?
It has outpaced the benchmark over 3 years, matched it closely over 5 years and lagged it over the latest 1 year. That makes the recent picture weaker than the longer-term one.
Which fund managers run this scheme?
The fund is managed by Shreyash Devalkar, Jayesh Sundar and Krishnaa N.
What is the risk category of this fund?
The fund is classified as High Risk. That fits a portfolio that can move around in shorter periods while still aiming to compound over time.
What is the exit load?
Units sold within 12 months carry an exit load of 1% on the remaining investments after the 10% free portion; no exit load applies after 12 months.
Bottom line
Axis Large Cap Fund Direct Growth Plan has a mixed recent record, but the longer view is steadier: the 3-year return is better than the benchmark and the 5-year return is broadly in line with it. The fund remains in the High Risk bucket, so short-term volatility is part of the package. Its large-cap, bank-led portfolio gives it a familiar core shape, while the broader 41-holding structure suggests it is not overly dependent on just a few names. It may suit investors who want large-cap exposure and can stay patient through uneven phases.
Published on 9 September 2026 at 3:33 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.