Bandhan Large & Mid Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 31, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan Large & Mid Cap Fund Direct Growth Plan had a NAV of ₹165.863 as of 18 Sep 2026 and manages ₹21,020 Cr. Its 1-year, 3-year and 5-year returns are 3.44%, 17.59% and 16.85% respectively, and the scheme sits in the High Risk bucket. Our view is that this is a cyclical equity fund with a stronger longer-term record than its recent 1-year showing, but the recent stretch has been much softer than the 3-year and 5-year pattern.
The portfolio is built around large financials, select information technology exposure and a meaningful cash-and-cash-equivalents position. That mix can support upside in a favourable market phase, but it also means the fund can move unevenly, so it may suit investors who can stay invested through volatility and judge it over a longer horizon.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹165.863 as of 18 Sep 2026 |
| AUM | ₹21,020 Cr |
| Expense Ratio | 0.56% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty Mid Cap |
| Fund Category | Equity |
| Exit Load | Nil upto 10% of investment and 1% for remaining investment on or before 365D, Nil after 365D |
| Fund Managers | Manish Gunwani, Rahul Agarwal |
The fund is managed by Manish Gunwani and Rahul Agarwal.
Source data date: as of 18 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.06% | -3.73% |
| 3M | 0.82% | -3.14% |
| 1Y | 3.44% | -5.31% |
| 3Y | 17.59% | 6.30% |
| 5Y | 16.85% | 5.79% |
The fund has held up better than the benchmark over every period shown, but the gap is especially noticeable over 3 years and 5 years. That tells us the strategy has translated into solid compounding over a full market cycle, not just in a short burst.
The recent 1-month and 3-month numbers are modest, and the 1-year return is also much softer than the medium-term track record. In our view, that makes the current run look more muted than the fund’s longer pattern, rather than the start of a clearly new trend.
The 3-year and 5-year figures suggest that the fund has been able to create value when held through a longer period, even though the path has not been smooth. The benchmark’s negative 1-year reading, compared with the fund’s positive 1-year return, also shows that the fund has managed to stay ahead through a weaker patch for the broader index.
For an investor, the key point is that the fund’s return profile is not linear. It has combined better longer-term compounding with short-term stretches of weaker momentum, so the decision is less about recent headline movement and more about whether one is comfortable with a high-risk equity style that can move around before results accumulate.
Source data date: as of 18 Sep 2026
Should you BUY or HOLD Bandhan Large & Mid 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 Bandhan Large & Mid Cap? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan Large & Mid Cap Fund Direct Growth Plan | 3.44% | 17.59% | 16.85% |
| Quant Large & Mid Cap Fund Direct Growth Plan | 9.74% | 14.83% | 15.98% |
| HSBC Large & Mid Cap Fund Direct Growth Plan | 9.29% | 18.04% | 14.68% |
| Sundaram Large and Mid Cap Fund Direct Growth Plan | 8.13% | 14.5% | 12.17% |
| Motilal Oswal Large & Midcap Fund Direct Growth Plan | 7.44% | 22.21% | 18.76% |
| Invesco India Large & Mid Cap Fund Direct Growth Plan | 6.46% | 22.41% | 17.1% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the recent 1-year view, this fund trails the peer group figures shown here, even though it still stays ahead of the benchmark. The stronger story appears in the 3-year and 5-year numbers, where its long-run returns are competitive and, in this set, sit above some peers while remaining below others.
That split matters. The short-term comparison says the fund has not had the strongest recent run among these names, while the longer-term comparison shows that it has still compounded well over time. For investors, that means the fund may appeal more when the focus is on multi-year holding periods rather than on matching the best recent monthly or annual momentum.
Source data date: as of 18 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Triparty Repo TRP_010926 | Cash & Cash Equivalents and Net Assets | 4.26% |
| HDFC Bank Limited | Bank | 3.78% |
| One 97 Communications Limited | IT | 3.36% |
| ICICI Bank Limited | Bank | 3.18% |
| Kotak Mahindra Bank Limited | Bank | 2.55% |
| Axis Bank Limited | Bank | 2.43% |
| ICICI Lombard General Insurance Company Limited | Insurance | 2.02% |
| Multi Commodity Exchange of India Limited | Finance | 1.88% |
| Jindal Steel Limited | Iron & Steel | 1.85% |
| Infosys Limited | IT | 1.84% |
The largest disclosed holding is Triparty Repo TRP_010926 at 4.26%, which is a modest single-position weight rather than a heavy concentration. The tenth holding is Infosys Limited at 1.84%, so the weights taper down fairly gradually across the top 10 instead of dropping sharply after the first few names.
The top 10 holdings together account for approximately 27.15% of the portfolio, which suggests a meaningful but not overwhelming contribution from the most visible positions. Because there are 72 disclosed holdings in total, the rest of the portfolio is spread across a longer tail that may reduce dependence on any one idea.
In our view, the largest positions point to a portfolio that may be balanced between conviction ideas and diversification. Financials occupy several of the top slots, while cash equivalents and technology also appear prominently, so the fund may behave differently from a very concentrated mid-cap portfolio focused on one theme.
To see all holdings, visit the Bandhan Large & Mid Cap Fund Direct Growth Plan page
Source data date: as of 18 Sep 2026
Who should invest
This fund may suit investors who can tolerate High Risk and are comfortable with equity-style swings in the short run. The 1-year number is much softer than the 3-year and 5-year returns, so the payoff here looks more suited to a longer holding period than to a quick outcome.
The benchmark comparison is favourable over all listed periods, but the peer comparison shows that recent results have not been the strongest in the group. The trade-off is clear: investors may be accepting a less consistent short-term path in exchange for a fund that has still compounded well over longer horizons and carries a diversified set of holdings rather than a narrow one.
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 upto 10% of investment and 1% for remaining investment on or before 365D, Nil after 365D.
Source data date: as of 18 Sep 2026
Frequently asked questions
What is the current NAV of Bandhan Large & Mid Cap Fund Direct Growth Plan?
The current NAV is ₹165.863 as of 18 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 3.44%, the 3-year return is 17.59% and the 5-year return is 16.85%.
How does the fund compare with its benchmark?
It has outperformed the benchmark across the 1-month, 3-month, 1-year, 3-year and 5-year periods shown. The gap is widest over 3 years and 5 years.
How does it compare with peer funds on recent returns?
Its 1-year return is lower than the peer figures shown here, while its 3-year and 5-year returns remain competitive and stronger than some peers. The recent and longer-term pictures are not the same.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Manish Gunwani and Rahul Agarwal. The exit load is nil upto 10% of investment and 1% for the remaining investment on or before 365D, and nil after 365D.
Bottom line
Bandhan Large & Mid Cap Fund Direct Growth Plan has a softer recent run than its 3-year and 5-year record, so the short-term picture is weaker than the longer-term one. It has still stayed ahead of the benchmark across the periods shown and remains competitive versus the peer set on multi-year returns. The High Risk profile and the bank-heavy, diversified portfolio mean this is better viewed as a longer-horizon equity fund for investors who can live with uneven short-term movement.
Published on 21 September 2026 at 11:33 AM 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.