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

Tata Large & Mid Cap Fund Direct Growth Plan has a NAV of ₹562.142 as of 17 Sep 2026 and an AUM of ₹7,679 Cr. Its 1-year, 3-year and 5-year returns are -7.08%, 5.9% and 8.79% respectively, and it sits in the High Risk category.

Our view is that this is a fund for investors who can tolerate sharp swings and are comfortable giving the strategy time to recover. The portfolio is tilted toward banks and other cyclical names, so the experience may differ meaningfully from broad-market behaviour in weaker stretches.

Quick facts

Particular	Details
NAV	₹562.142 as of 17 Sep 2026
AUM	₹7,679 Cr
Expense Ratio	0.65%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty Mid Cap
Fund Category	Equity
Exit Load	0.50% on or before 30D, Nil after 30D
Fund Managers	Chandraprakash Padiyar, Kapil Malhotra

The fund is managed by Chandraprakash Padiyar and Kapil Malhotra.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.74%	-3.66%
3M	-1.87%	-3.71%
1Y	-7.08%	-7.13%
3Y	5.9%	5.82%
5Y	8.79%	5.72%

The recent picture is softer than the longer view, but it is not materially worse than the benchmark over the same periods. The 1-month and 3-month numbers are still negative, which tells us the fund has continued to face pressure in the near term even after some recovery in earlier stretches. That matters for investors because this is not a smooth compounding profile.

Over 1 year, the fund has been almost flat versus the benchmark, with both ending in negative territory. The 3-year figure is slightly ahead of the benchmark, while the 5-year figure is clearly better than the benchmark. That combination suggests the strategy has still added value over a full market cycle even though the most recent year has not been supportive.

The time pattern also points to uneven compounding rather than steady progress. The 3-year and 5-year paths show several drawdowns and recoveries, which is consistent with a portfolio that leans into higher-beta parts of the market. For a patient investor, that can be acceptable; for someone who wants smoother quarter-to-quarter outcomes, it may feel uncomfortable.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Tata 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
Tata Large & Mid Cap Fund Direct Growth Plan	-7.08%	5.9%	8.79%
Quant Large & Mid Cap Fund Direct Growth Plan	7.52%	13.52%	15.17%
HSBC Large & Mid Cap Fund Direct Growth Plan	7.21%	16.82%	13.91%
Sundaram Large and Mid Cap Fund Direct Growth Plan	6.45%	13.51%	11.52%
Motilal Oswal Large & Midcap Fund Direct Growth Plan	6.16%	21.07%	18%
Bank of India Large & Mid Cap Fund Direct Growth Plan	5.73%	12.75%	11.41%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the recent 1-year view, the fund trails the better peer outcomes by a wide margin because the current return is negative while the peer set here is positive. The longer-horizon picture is more balanced: the fund is ahead of some peers on 5-year performance, but it remains below several others on both 3-year and 5-year returns. So the short-term and longer-term peer comparisons tell different stories.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd	Bank	7.94%
State Bank of India	Bank	5.8%
IDFC First Bank Ltd	Bank	5.4%
Godrej Properties Ltd	Realty	4.46%
I) Repo	Cash & Cash Equivalents and Net Assets	4.41%
ICICI Bank Ltd	Bank	4.35%
Bharti Airtel Ltd	Telecom	3.96%
SBI Cards and Payment Services Ltd	Finance	3.86%
Reliance Industries Ltd	Crude Oil	3.82%
Varun Beverages Ltd	FMCG	3.65%

The largest holding, HDFC Bank Ltd, is 7.94%, which is meaningful but not dominant on its own. The weight then steps down gradually through the next few positions, with the tenth holding still at 3.65%, so the top slice is fairly spread rather than concentrated in one very large bet.

At the same time, the top 10 holdings account for approximately 47.65% of the portfolio, and the fund has 44 disclosed holdings in total. That tells us the portfolio may be concentrated in its leading ideas, but it still leaves room for a broader tail of smaller positions that could affect outcomes over time.

Because banks appear repeatedly among the largest positions, the fund could be more sensitive to movements in that part of the market than a more evenly diversified large-and-mid-cap strategy. The cash and cash-equivalent position also gives some flexibility, but it does not by itself remove the influence of the leading equity holdings.

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

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who can accept High Risk and stay invested through periods of weakness. The 1-year return has been negative, but the 3-year and 5-year figures show that the strategy can recover over a longer window, especially when market conditions are more supportive.

It is better aligned with a medium- to long-term horizon rather than short-term money. The main trade-off is that the portfolio may lag in calmer or difficult phases, while still offering the chance of stronger outcomes over a full cycle. The benchmark comparison and the peer set both point to the same conclusion: patience matters more here than near-term consistency.

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: 0.50% if units are sold on or before 30 days; nil after 30 days.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Tata Large & Mid Cap Fund Direct Growth Plan?
Its NAV is ₹562.142 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year, 3-year and 5-year returns are -7.08%, 5.9% and 8.79%.

How does it compare with its benchmark?
It is slightly ahead of the benchmark over 3 years and 5 years, while the 1-year return is almost in line with the benchmark’s negative outcome.

How does it compare with the peer funds listed here?
The recent 1-year return trails the better peer outcomes, while the 5-year figure is ahead of some peers and behind others. The 3-year figure is also mixed versus the set shown.

Is there a minimum SIP amount?
Yes, the minimum SIP amount is ₹100.

Who manages the fund and what kind of portfolio does it have?
The fund is managed by Chandraprakash Padiyar and Kapil Malhotra. Its largest holdings are led by banks, and the top 10 positions account for about 47.65% of the portfolio.

Bottom line

Tata Large & Mid Cap Fund Direct Growth Plan has a mixed short-term record but a firmer longer-term shape. The 1-year return is weak, yet the 3-year and 5-year figures are better than the benchmark, and the peer comparison shows that the story is not uniformly behind. Its High Risk label and bank-heavy top holdings mean it can move sharply, so it is best viewed as a fund for investors who can hold through uneven stretches and focus on cycle-level outcomes rather than steady monthly gains.

Published on 18 September 2026 at 3:31 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.