Axis Large Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis Large Cap Fund Direct Growth Plan has a NAV of ₹69.76 as of 03 Sep 2026 and a scheme AUM of ₹31,631 Cr. Its 1-year, 3-year and 5-year returns are 0.55%, 10.17% and 6.15% respectively, and it sits in the High Risk bucket. Our view is that the fund has shown a mixed pattern: the medium-term outcome has been better than the latest 1-year stretch, while the longer-term figure is steady but not especially strong versus the benchmark.

The portfolio is anchored by large banking and financial names, with a meaningful weight in the top holdings. That mix can help in a market cycle that favours large, liquid companies, but it also means the fund may move unevenly when leadership shifts away from those themes.

Quick facts

Particular	Details
NAV	₹69.76 as of 03 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 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.32%	-3.01%
3M	6.41%	1.95%
1Y	0.55%	-4.40%
3Y	10.17%	5.74%
5Y	6.15%	6.27%

The recent picture is better than the 1-year number alone suggests. Over 1 month, the fund fell, but it still did slightly better than the benchmark in a softer stretch. The 3-month return recovered sharply, which tells us the fund can participate when its chosen holdings move in its favour.

Longer-term performance is more balanced. The 3-year return is clearly ahead of the benchmark, but the 5-year figure is slightly below it. That combination points to a fund that has done better in the middle part of the cycle than in the full five-year window.

From a compounding view, the trajectory has not been smooth. The pattern over the past few years shows periods of weakness, a recovery phase, and then renewed unevenness. For an investor, that means the fund has not behaved like a straight-line performer; it has relied on swings in large-cap leadership and stock selection to rebuild returns.

Compared with the benchmark, the fund has been ahead over 3 years and roughly in line over 5 years, while the latest 1-year stretch has been weak in absolute terms. That makes the current picture more suitable for investors who can look through short-run noise and judge the fund on a fuller cycle rather than on the last year alone.

Source data date: as of 03 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?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
Axis Large Cap Fund Direct Growth Plan	0.55%	10.17%	6.15%
Taurus Large Cap Fund Direct Growth Plan	8.95%	13.94%	10.55%
Quant Large Cap Fund Direct Growth Plan	8.61%	14.48%	Data not available
Bank of India Large Cap Fund Direct Growth Plan	7.37%	14%	9.94%
Invesco India Largecap Fund Direct Growth Plan	6.56%	15.2%	12.14%
Bajaj Finserv Large Cap Fund Direct Growth Plan	4.31%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

In the recent 1-year period, the fund trails the stronger peer figures by a wide margin, with several peers posting mid-to-high single-digit gains. That gap matters because the latest year has been the clearest weak spot in the fund’s record.

On the longer view, the fund’s 3-year return is respectable but still below the stronger peer numbers available here, and its 5-year return also sits behind the better five-year figures in the group. The story is therefore mixed: the fund has rebuilt some medium-term momentum, but peers with available longer-horizon data have generally delivered more.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Limited	Bank	9.64%
HDFC Bank Limited	Bank	8.40%
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, carries a weight of 9.64%, which is large enough to have a visible effect on outcomes but not so large that one stock dominates the story by itself. The drop from the first holding to the tenth is fairly gradual, moving from 9.64% to 3.09%, so the visible book is spread across several major names rather than concentrated in one position.

The top 10 holdings account for approximately 49.44% of the portfolio, and the fund discloses 41 holdings in total. That suggests a meaningful core of large positions alongside a longer tail of smaller holdings, so returns may be influenced by a concentrated leadership set while still carrying diversification across more names.

Because the top holdings lean toward banks, financials, telecom, infrastructure and select industrial and consumer exposure, the portfolio may be more sensitive to how large-cap domestic cyclical and financial names behave. That does not make the fund narrow, but it does mean the key drivers are likely to come from a fairly recognisable set of companies.

To see all holdings, visit the Axis Large Cap Fund Direct Growth Plan page

Source data date: as of 03 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk equity volatility and can stay invested for a longer horizon. The 1-year result has been weak, but the 3-year outcome is stronger and the 5-year figure is more moderate, so the fund fits someone who can accept uneven short-run performance in exchange for the possibility of recovery over time.

Its benchmark comparison also matters. The fund has outpaced the benchmark over 3 years, but it is slightly behind over 5 years and has a soft latest year, so the trade-off is that performance has not been consistently ahead across every period. Investors who prefer a smoother profile or who need near-term stability may find that uncomfortable, while those who can tolerate swings and focus on large-cap exposure may find the shape of returns more acceptable.

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 sold on or before 12 months; no exit load after 12 months.

Source data date: as of 03 Sep 2026

Frequently asked questions

What is the current NAV of Axis Large Cap Fund Direct Growth Plan?
Its NAV is ₹69.76 as of 03 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its returns are 0.55% over 1 year, 10.17% over 3 years and 6.15% over 5 years.

How does it compare with the benchmark?
It is ahead of the Nifty 50 over 3 years, slightly behind over 5 years, and better than the benchmark over the latest 1-year period even though the absolute 1-year return is low.

How does it compare with the peer funds listed here?
Its 1-year return is weaker than the peer returns shown here, and its 3-year and 5-year figures are also below the stronger peer numbers available in this group.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?
It is managed by Shreyash Devalkar, Jayesh Sundar and Krishnaa N. The exit load is nil for 10% of investments and 1% for the remaining investments if units are sold on or before 12 months, and there is no exit load after 12 months.

Bottom line

Axis Large Cap Fund Direct Growth Plan has a mixed record: the latest 1-year outcome is weak, the 3-year return is stronger, and the 5-year result is broadly in line with a mature large-cap fund rather than a standout performer. Against peers with available numbers, the fund looks softer on both recent and longer-horizon measures. The risk profile is High Risk, and the portfolio leans heavily on large banks and other large domestic names, so it is best viewed as a cyclical, market-linked large-cap option for patient investors.

Published on 4 September 2026 at 5:30 PM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore 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.