Motilal Oswal Large Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Motilal Oswal Large Cap Fund Direct Growth Plan currently has a NAV of ₹13.7741 as of 17 Sep 2026 and a scheme AUM of ₹3,146 Cr. Its 1-year, 3-year and 5-year returns are -4.63%, 0% and 0%, and the scheme is tagged as High Risk. Our view is that this is a large-cap equity fund that has not yet built a long track record, so the recent return pattern matters more than any long-horizon reading.
The fund sits on a Nifty 50 benchmark and its portfolio is anchored by large financials, telecom, infrastructure and IT names. That mix can make it more suited to investors who are comfortable with sharper near-term swings and want a large-cap style portfolio rather than a defensive income-oriented one.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.7741 as of 17 Sep 2026 |
| AUM | ₹3,146 Cr |
| Expense Ratio | 0.81% |
| Launch Date | 06 Feb 2024 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 365D, Nil after 365D |
| Fund Managers | Ajay Khandelwal, Atul Mehra, Rakesh Shetty |
The fund is managed by Ajay Khandelwal, Atul Mehra and Rakesh Shetty.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.71% | -3.66% |
| 3M | -1.14% | -3.71% |
| 1Y | -4.63% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
In the recent period, the fund has held up better than the benchmark, even though both have been under pressure. The 1-month and 3-month figures show a mild drawdown rather than a sharp slide, which suggests that the fund has not been immune to volatility but has declined less than the index over those windows.
The 1-year return is still negative, so the fund has not yet produced a positive one-year outcome. Even so, it has outpaced the benchmark over the same period, which tells us the portfolio has absorbed part of the market weakness rather than amplifying it. That relative edge matters, but it should be read alongside the fact that the absolute return remains below zero.
The longer-run view is limited because the scheme was launched in February 2024, so there is no full 3-year or 5-year track record to study. In practical terms, that means investors should place more weight on consistency through different market phases than on any long-horizon claim. The recent pattern is better than the benchmark, but the available history is still short and has not yet converted into positive compounded returns.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Motilal Oswal 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 Motilal Oswal Large Cap? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Motilal Oswal Large Cap Fund Direct Growth Plan | -4.63% | Data not available | Data not available |
| Taurus Large Cap Fund Direct Growth Plan | 4.24% | 11.47% | 9.62% |
| Quant Large Cap Fund Direct Growth Plan | 3.59% | 12.14% | Data not available |
| Bank of India Large Cap Fund Direct Growth Plan | 2.65% | 11.67% | 9.1% |
| Invesco India Largecap Fund Direct Growth Plan | 0.52% | 12.74% | 11.03% |
| JioBlackRock Large Cap Fund Direct Growth Plan | Data not available | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The current fund has lagged the better-returning peer set on 1-year returns, where several peers have positive numbers while this scheme is still negative. That gap is important because the recent period is the only live horizon available for this fund.
Where peers have 3-year and 5-year figures, those records are clearly stronger than what this scheme can show today, but the comparison is not apples to apples because this fund does not yet have a comparable long-history return. The short-term picture and the longer-term peer record therefore tell different stories: the scheme has been softer recently, while some peers have already demonstrated positive compounding over multiple years.
Source data date: as of 17 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 8.79% |
| ICICI Bank Limited | Bank | 7.76% |
| Reliance Industries Limited | Crude Oil | 6.49% |
| Bharti Airtel Limited | Telecom | 4.28% |
| Larsen & Toubro Limited | Infrastructure | 3.6% |
| State Bank of India | Bank | 3.37% |
| Infosys Limited | IT | 3.24% |
| Axis Bank Limited | Bank | 2.69% |
| Tata Consultancy Services Limited | IT | 2.36% |
| Kotak Mahindra Bank Ltd | Bank | 2.33% |
The largest holding is HDFC Bank Limited at 8.79%, so no single position dominates the portfolio by itself. The tenth holding is Kotak Mahindra Bank Ltd at 2.33%, which shows that weight does step down meaningfully after the top name, but not in a cliff-like way.
The top 10 holdings account for approximately 44.91% of the portfolio, so the disclosed part of the book is moderately concentrated rather than spread evenly across many small positions. With 53 holdings disclosed in total, the fund may still have a long tail that dilutes individual stock impact beyond the top names.
That structure suggests the biggest holdings are likely to have greater influence on short-run results, especially the banking cluster, which includes several large positions. At the same time, the presence of 53 holdings means the fund is not relying on a handful of names alone, so portfolio behaviour may be shaped by both its leaders and the wider set of smaller positions.
To see all holdings, visit the Motilal Oswal Large Cap Fund Direct Growth Plan page
Source data date: as of 17 Sep 2026
Who should invest
This fund is better suited to investors who can tolerate high volatility and who are comfortable with a large-cap equity allocation that may move around in the short run. The benchmark comparison shows some relative resilience in recent periods, but the absolute one-year return is still negative, so patience matters.
The scheme fits a longer investment horizon rather than a quick-return mindset. Its portfolio is led by banks, telecom, infrastructure and IT, which can work well for investors seeking a mainstream large-cap equity core, but the trade-off is that returns can still be uneven while the fund is building history.
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: 1% on or before 365D, Nil after 365D.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Motilal Oswal Large Cap Fund Direct Growth Plan?
The current NAV is ₹13.7741 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is -4.63%, while the 3-year and 5-year returns are not available because the scheme is still too new for those horizons.
How has it performed versus the benchmark?
It has done better than Nifty 50 over the available 1-month, 3-month and 1-year periods, although all three periods are still negative for the fund. That means it has been relatively steadier than the benchmark, but not yet positive in absolute terms.
How does it compare with peer funds on available return data?
Its one-year return trails the positive one-year numbers shown by several peers, while those peers also have stronger 3-year and 5-year records where available. The comparison therefore points to weaker recent performance than the peer set on the figures currently available.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund, and what is the exit load?
The fund is managed by Ajay Khandelwal, Atul Mehra and Rakesh Shetty. The exit load is 1% on or before 365 days and nil after 365 days.
Bottom line
Motilal Oswal Large Cap Fund Direct Growth Plan has shown a softer short-term return profile than several peers, even though it has still held up better than the benchmark in the recent windows we can observe. The fund is High Risk, and its portfolio leans heavily on banks with a meaningful presence in telecom, infrastructure and IT, so stock selection at the top can matter a lot. It suits investors who can stay invested through uneven early-stage performance and want a large-cap equity fund with a clear, concentrated core.
Published on 18 September 2026 at 12:05 PM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
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.