UTI Large & Mid Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI Large & Mid Cap Fund Direct Growth Plan sits in the equity category with a High Risk profile. Its NAV is ₹197.5454 as of 09 Sep 2026, and its scheme AUM is ₹6,514 Cr. The fund’s 1-year, 3-year and 5-year returns are 3.67%, 14.65% and 14.15%, respectively. Our view is that the fund has delivered a steadier long-term picture than the recent one-year stretch suggests, but the risk level and mid-cap exposure mean it is better suited to investors who can accept sizeable swings.
Its benchmark-linked 1-year backdrop has been weaker, while the 3-year and 5-year track record remains more resilient. The portfolio is led by financials, technology, infrastructure and healthcare names, with the top 10 holdings accounting for a meaningful share of assets. That mix may support participation in equity growth, but it also means returns can be uneven in shorter windows.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹197.5454 as of 09 Sep 2026 |
| AUM | ₹6,514 Cr |
| Expense Ratio | 0.98% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty Mid Cap |
| Fund Category | Equity |
| Exit Load | 1% before 1Y, Nil on or after 1Y |
| Fund Managers | V. Srivatsa |
The fund is managed by V. Srivatsa.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.98% | -4.69% |
| 3M | 3.82% | 0.93% |
| 1Y | 3.67% | -7.16% |
| 3Y | 14.65% | 6% |
| 5Y | 14.15% | 5.87% |
The one-month picture was weak, but not as weak as the benchmark. Over the shorter three-month window, the fund recovered more firmly than the index, which tells us the recent pullback has not been uniform across every time frame.
The one-year result is still modest at 3.67%, yet it remains ahead of the benchmark’s negative 7.16%. That gap matters because it shows the fund held up better through a difficult stretch for the reference index, even though the absolute return is not especially strong for an equity strategy.
On a longer horizon, the pattern is more constructive. The 3-year return of 14.65% and the 5-year return of 14.15% both stand comfortably above the benchmark’s 6% and 5.87%. The time pattern suggests the fund has had phases of volatility, but the longer compounding trend has remained intact.
For investors, that combination points to a fund that can lag or wobble in the short run yet still preserve a better medium- to long-term track record than the benchmark. Our view is that the recent softness does not overturn the broader trend, but it does remind investors that the path will not be smooth.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD UTI 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 UTI Large & Mid Cap? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI Large & Mid Cap Fund Direct Growth Plan | 3.67% | 14.65% | 14.15% |
| Motilal Oswal Large & Midcap Fund Direct Growth Plan | 14.42% | 22.86% | 19.17% |
| Quant Large & Mid Cap Fund Direct Growth Plan | 13.43% | 14.97% | 16.35% |
| HSBC Large & Mid Cap Fund Direct Growth Plan | 12.77% | 17.71% | 15.05% |
| Sundaram Large and Mid Cap Fund Direct Growth Plan | 11.17% | 14.64% | 12.61% |
| Invesco India Large & Mid Cap Fund Direct Growth Plan | 9.92% | 22.84% | 17.63% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On recent numbers, the fund trails all five peers listed here on 1-year return, while its 3-year and 5-year figures are mid-pack rather than leading. That creates a split picture: the short-term result is clearly softer, but the medium-term record is still respectable against the peer set.
What stands out is that the longer-term comparison is not as weak as the 1-year reading. Several peers show stronger 3-year and 5-year outcomes, yet this fund still keeps a decent distance above the weakest longer-term figures in the list. That makes the fund look less compelling on recent momentum, but still relevant for investors who care more about consistency across full market cycles than about one-year strength.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Eq – HDFC Bank Limited | Bank | 5.23% |
| Eq – ICICI Bank Ltd | Bank | 4.78% |
| Eq – Reliance Industries Ltd. | Crude Oil | 3.72% |
| Eq – State Bank of India | Bank | 3.07% |
| Eq – Infosys Ltd. | IT | 3.05% |
| Eq – Larsen & Toubro Ltd. | Infrastructure | 2.82% |
| Eq – Aurobindo Pharma Ltd. | Healthcare | 2.58% |
| Eq – ITC Ltd. | FMCG | 2.46% |
| Eq – Aditya Birla Capital Ltd | Finance | 2.34% |
| Eq – Bharti Airtel Ltd. | Telecom | 2.18% |
The largest holding, HDFC Bank Limited, carries a weight of 5.23%, which is meaningful but not extreme for an equity fund of this type. The drop from the first holding to the tenth is gradual rather than abrupt, with the tenth position still at 2.18%, so influence appears to be spread across several names instead of resting on one or two outsized bets.
The top 10 holdings together account for 32.23% of the portfolio, and the fund has 66 disclosed holdings in total. That suggests the visible core is material, but the broader book is still fairly long. In our view, this structure may allow multiple sectors to contribute over time while reducing dependence on a single stock.
At the same time, the concentration in banks, along with exposure to technology, infrastructure and healthcare, means the fund may still move meaningfully when these pockets of the market rotate. The mix is diversified across industries, yet the top names are influential enough to shape short-term outcomes.
To see all holdings, visit the UTI Large & Mid Cap Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund fits investors who are comfortable with High Risk equity exposure and who can stay invested for several years. The 1-year result has been modest, but the 3-year and 5-year record is stronger, so the fund makes more sense for someone who can ride through weaker shorter periods in exchange for a better medium-term pattern.
The benchmark comparison also matters: the fund has held up better than the benchmark over 1 year and has stayed ahead over 3 and 5 years. That makes it suitable for investors who want equity growth potential without expecting smooth monthly outcomes. The trade-off is clear: there may be volatility in the near term, but the longer horizon has historically offered a more supportive return profile.
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% before 1 year; nil on or after 1 year.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of UTI Large & Mid Cap Fund Direct Growth Plan?
The current NAV is ₹197.5454 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 3.67%, 14.65% and 14.15%.
How does the fund compare with its benchmark?
It has outpaced the benchmark over 1 year, 3 years and 5 years. The benchmark return is -7.16% for 1 year, 6% for 3 years and 5.87% for 5 years.
How does it compare with the listed peer funds?
Its 1-year return is below all five peer funds listed here, while its 3-year and 5-year figures sit in the middle of the peer range. That makes the recent picture softer than the longer-term one.
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 V. Srivatsa. The exit load is 1% before 1 year and nil on or after 1 year.
Bottom line
UTI Large & Mid Cap Fund Direct Growth Plan looks better on a longer horizon than in the most recent year. Its recent return has been modest, but the 3-year and 5-year figures remain clearly ahead of the benchmark, and the peer set shows that the fund’s longer-term profile is solid rather than standout. The portfolio is anchored by banks and other large, influential businesses, which may help explain the fund’s meaningful upside as well as its High Risk character. It suits investors who can accept uneven short-term movement for a steadier medium-term equity outcome.
Published on 10 September 2026 at 4:41 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.