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

Nippon India Large Cap Fund Direct Growth Plan is at ₹98.6725 as of 09 Sep 2026, with scheme AUM of ₹54,133 Cr. Its 1-year, 3-year and 5-year returns are -3.23%, 10.49% and 13.26% respectively, and the fund sits in the High Risk category.

Our view is that this is a large-cap equity fund with a meaningful long-term record, but the recent phase has been weaker than its 3-year and 5-year track. The portfolio is led by banks, with large weights in HDFC Bank, ICICI Bank and Axis Bank, so investors should be comfortable with equity-market swings even though the benchmark is Nifty 50.

Quick facts

Particular	Details
NAV	₹98.6725 as of 09 Sep 2026
AUM	₹54,133 Cr
Expense Ratio	0.67%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 7D, Nil after 7D
Fund Managers	Sailesh Raj Bhan, Bhavik Dave

The fund is managed by Sailesh Raj Bhan and Bhavik Dave.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.10%	-4.69%
3M	2.16%	0.93%
1Y	-3.23%	-7.16%
3Y	10.49%	6%
5Y	13.26%	5.87%

The fund has had a choppy recent stretch, but it has still held up better than the benchmark over 1 month, 3 months and 1 year. The 1-year return is negative, which tells us that the last year has been difficult, yet the benchmark was weaker still, so the fund preserved relative ground even in a soft period.

Over 3 years and 5 years, the picture improves clearly. The fund’s 10.49% 3-year return and 13.26% 5-year return are comfortably ahead of the benchmark, which indicates that the longer compounding pattern has been healthier than the recent year alone suggests. Our view is that the longer record matters more here than the latest short-term patch.

The time pattern also looks uneven rather than smooth. There are visible drawdowns and recoveries across the recent periods, so this is not a fund that has advanced in a straight line. That matters for investors because the large-cap label does not remove equity volatility; it mainly shapes where that volatility comes from.

Compared with the benchmark, the fund appears to have added value over multi-year horizons even though the latest year remains negative. That mix usually points to a fund whose medium-term track is stronger than its short-term mood.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD Nippon India 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 Nippon India 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
Nippon India Large Cap Fund Direct Growth Plan	-3.23%	10.49%	13.26%
Quant Large Cap Fund Direct Growth Plan	8.13%	13.11%	Data not available
Taurus Large Cap Fund Direct Growth Plan	6.99%	12.61%	10.27%
Bank of India Large Cap Fund Direct Growth Plan	6.82%	12.8%	9.84%
Invesco India Largecap Fund Direct Growth Plan	3.91%	13.77%	11.79%
ITI Large Cap Fund Direct Growth Plan	3.08%	11%	9.6%

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

On a 1-year view, the fund trails the stronger peer numbers because several peers are positive while this fund is negative. That makes the recent stretch look comparatively softer. Over 3 years, however, the fund sits in a competitive band and is ahead of some peers while still behind the stronger 3-year figures in the set. On 5 years, its 13.26% return is stronger than the other peers with available 5-year figures, which supports the case that its longer compounding has been sturdier than its latest year.

The short-term and longer-term stories are therefore different. The recent year shows pressure, but the multi-year record looks more durable. For investors, that difference matters because it suggests the fund may suit someone who can look through temporary weakness and focus on the longer large-cap cycle.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Limited	Bank	8.65%
ICICI Bank Limited	Bank	6.71%
Axis Bank Limited	Bank	5.29%
Reliance Industries Limited	Crude Oil	4.11%
Larsen & Toubro Limited	Infrastructure	3.7%
Infosys Limited	IT	3.63%
Tata Consultancy Services Limited	IT	3.55%
Bajaj Finance Limited	Finance	3.23%
State Bank of India	Bank	2.95%
Mahindra & Mahindra Limited	Automobile & Ancillaries	2.92%

The top 10 holdings account for approximately 44.74% of the portfolio.

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

The largest position, HDFC Bank Limited, is 8.65%, which is sizeable but not extreme for a large-cap equity fund. The second and third holdings are also banks, so the leading positions are clearly anchored in financials rather than spread evenly across every sector. That makes the top of the portfolio meaningful in determining how the fund behaves.

Weight does fall away after the top three, but the decline is gradual rather than steep. The tenth holding is 2.92%, so the gap from the largest holding to the tenth is notable without being abrupt. This pattern suggests that the portfolio is built around a set of core positions instead of a single dominant bet.

Because the top 10 holdings make up 44.74% of the portfolio and the scheme discloses 57 holdings overall, the rest of the book still matters. Our view is that this creates a balance between concentration at the top and diversification across a longer tail, although the bank-heavy lead positions may still have greater influence on short-term behaviour.

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who can accept High Risk behaviour in pursuit of equity-market growth and who are willing to stay invested through uneven short-term outcomes. The 1-year result is negative, while the 3-year and 5-year records are positive, so the fund makes more sense for a medium-to-long horizon than for near-term goals.

The benchmark comparison also points to a fund that can hold up better over time than in the latest year alone. Investors who want a large-cap allocation and can tolerate swings in return may find the setup familiar, especially because the portfolio leans heavily on banks and other large listed businesses. The main trade-off is that the stronger longer-term record comes with clear year-to-year variability.

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% if units are sold within 7 days; nil after 7 days.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of Nippon India Large Cap Fund Direct Growth Plan?

The current NAV is ₹98.6725 as of 09 Sep 2026.

How has the fund performed over 1 year, 3 years and 5 years?

Its 1-year return is -3.23%, the 3-year return is 10.49% and the 5-year return is 13.26%.

How does the fund compare with the benchmark?

It has done better than NIFTY 50 over 1 month, 3 months, 1 year, 3 years and 5 years. The gap is most visible over the 3-year and 5-year periods.

How does the fund compare with the peer funds listed here?

The 1-year return is weaker than the positive 1-year figures shown by several peers, but the 5-year return is stronger than the peers with available 5-year figures. The 3-year figure is broadly competitive within the peer set.

Is there a minimum SIP amount?

Yes. The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Sailesh Raj Bhan and Bhavik Dave. The exit load is 1% if units are sold within 7 days and nil after 7 days.

Bottom line

This fund’s recent year has been softer, but its 3-year and 5-year records are stronger and compare well with the benchmark. In the peer set, the latest year looks weaker while the longer record is more resilient. The High Risk profile and bank-heavy core mean the fund may suit investors who want large-cap exposure and can accept visible swings. The portfolio is reasonably broad across 57 holdings, yet the top positions still matter enough to shape outcomes.

Published on 10 September 2026 at 10:46 AM 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.