Baroda BNP Paribas Large & Mid Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Baroda BNP Paribas Large & Mid Cap Fund Direct Growth Plan is at a NAV of ₹29.807 as of 18 Sep 2026, with scheme AUM of ₹1,876 Cr. Its 1-year, 3-year and 5-year returns are 2.1%, 13.49% and 12.38% respectively, and the fund sits in the High Risk category. Our view is that this is a growth-oriented large- and mid-cap option with a mixed recent trend, but a steadier longer-term compounding record than the most recent year suggests.

The portfolio has a meaningful mid-cap tilt through names such as The Federal Bank Limited, One 97 Communications Limited, Radico Khaitan Limited and Bharat Heavy Electricals Limited, while still keeping large-cap exposure through HDFC Bank Limited and Larsen & Toubro Limited. That mix can make returns more sensitive to market swings, so the fund may suit investors who can stay invested through uneven stretches.

Quick facts

Particular	Details
NAV	₹29.807 as of 18 Sep 2026
AUM	₹1,876 Cr
Expense Ratio	0.82%
Launch Date	04 Sep 2020
Min SIP	₹250
Risk Category	High Risk
Benchmark	Nifty Mid Cap
Fund Category	Equity
Exit Load	Nil upto 10% of units and 1% for remaining units on or before 365D, Nil after 365D
Fund Managers	Jitendra Sriram, Kirtan Mehta

The fund is managed by Jitendra Sriram and Kirtan Mehta.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.53%	-3.73%
3M	0.62%	-3.14%
1Y	2.1%	-5.31%
3Y	13.49%	6.3%
5Y	12.38%	5.79%

The recent pattern is uneven, but the fund has held up better than the benchmark over the shorter windows. One month is still negative, yet it declined less than the benchmark, and the three-month figure has already moved back into positive territory while the benchmark remains negative. That tells us the fund has been more resilient than the reference index in the latest stretch.

The 1-year figure is modest, which matters because the long-only equity journey can look very different over one year than over several years. Even so, the fund still stands ahead of the benchmark over 1 year, and the gap becomes much clearer over 3 years and 5 years. That points to a stronger compounding profile than the benchmark over a full market cycle rather than a sharp burst of one-off outperformance.

At the same time, the recent numbers are not as smooth as the 3-year and 5-year record might suggest. The monthly and quarterly moves show some volatility, which is consistent with a High Risk fund focused on equity growth. Our read is that the longer-horizon return pattern is more important here than the latest month’s weakness.

Against the benchmark, the fund has been ahead in every period shown. The margin is small in the short term and wider over 3 years and 5 years, so the main takeaway is not just outperformance, but also that the outperformance has been earned over time rather than through a single strong quarter.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Baroda BNP Paribas 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Baroda BNP Paribas Large & Mid Cap Fund Direct Growth Plan	2.1%	13.49%	12.38%
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.

The current fund’s 1-year return is below every peer shown here, while its 3-year and 5-year figures are also lower than the stronger long-term numbers in the group. That does not change the fact that the fund is ahead of the benchmark over each of those periods, but it does show that peer comparison is less flattering than benchmark comparison.

The short-term picture and the longer-term picture are telling different stories. In the near term, the fund trails the better peer returns by a wide margin, especially on 1 year. Over 3 years and 5 years, it remains behind the strongest peer figures, but the gap is less dramatic than in the latest year. For investors, that means the fund has been a steadier benchmark-beater than a peer standout.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	4.33%
The Federal Bank Limited	Bank	3.52%
One 97 Communications Limited	IT	3.29%
Radico Khaitan Limited	Alcohol	3.01%
Bharat Heavy Electricals Limited	Capital Goods	2.84%
Indusind Bank Limited	Bank	2.83%
Navin Fluorine International Limited	Chemicals	2.7%
Reliance Industries Limited	Crude Oil	2.69%
HDFC Bank Limited	Bank	2.55%
Larsen & Toubro Limited	Infrastructure	2.52%

The top 10 holdings account for approximately 30.28% of the portfolio.

To see all holdings, visit the Baroda BNP Paribas Large & Mid Cap Fund Direct Growth Plan page

The largest holding, Clearing Corporation of India Ltd, is 4.33%, so no single position dominates the visible portfolio. The fall from the first holding to the tenth is gradual rather than sharp, which suggests the fund is not relying on one or two outsized bets among the largest disclosed positions.

Even so, the top 10 together account for about 30.28% across 52 disclosed holdings, so the visible book still has room for a longer tail of smaller positions. That mix may soften dependence on a single name while still allowing the larger holdings to matter meaningfully to returns.

The presence of both financials and operating businesses such as IT, capital goods, chemicals and infrastructure points to a diversified large- and mid-cap structure. Because the largest disclosed weights are not extreme, the fund’s performance may reflect a broader set of holdings rather than a handful of concentrated positions.

Source data date: as of 18 Sep 2026

Who should invest

This fund may suit investors who can accept High Risk and stay invested for at least several years. The 1-year result is much softer than the 3-year and 5-year numbers, so short holding periods may not capture the stronger compounding pattern.

The better fit is for someone who wants equity growth exposure with a large- and mid-cap mix and can tolerate swings along the way. The main trade-off is that the portfolio may offer stronger long-term upside than the benchmark, but it can also move unevenly in the short run and trail stronger peer figures in weaker phases.

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 up to 10% of units and 1% for the remaining units if sold on or before 365 days. No exit load after 365 days.

Source data date: as of 18 Sep 2026

Frequently asked questions

What is the current NAV of Baroda BNP Paribas Large & Mid Cap Fund Direct Growth Plan?
The NAV is ₹29.807 as of 18 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 2.1% over 1 year, 13.49% over 3 years and 12.38% over 5 years.

How does the fund compare with its benchmark?
It is ahead of the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The lead is modest in the short term and wider over the longer horizons.

How does it compare with the peer funds shown here?
Its 1-year return is below the peer figures shown, and its 3-year and 5-year numbers are also lower than the strongest peer numbers listed. It still compares better than the benchmark over the same periods.

What is the minimum SIP amount?
The minimum SIP is ₹250.

Who manages the fund and what is the exit load?
The fund is managed by Jitendra Sriram and Kirtan Mehta. The exit load is nil up to 10% of units and 1% for the remaining units if sold on or before 365 days, and there is no exit load after 365 days.

Bottom line

Baroda BNP Paribas Large & Mid Cap Fund Direct Growth Plan has a mixed recent record, but its 3-year and 5-year numbers are stronger than the 1-year figure and remain ahead of the benchmark. Against peers, the latest year looks softer, while the longer-term numbers are more respectable without being the strongest in the set. The High Risk label fits the fund’s uneven short-term behaviour. With a 30.28% top-10 weight across 52 holdings, the portfolio looks fairly spread out rather than tightly concentrated, which may appeal to investors looking for diversified equity exposure over a longer horizon.

Published on 21 September 2026 at 11:54 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.