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

UTI Large Cap Fund Direct Growth Plan has a NAV of ₹287.9943 as of 09 Sep 2026 and scheme AUM of ₹12,189 Cr. Its 1-year, 3-year and 5-year returns are -2.8%, 7.52% and 7.11%, and it sits in the High Risk bucket. Our view is that this is a large-cap fund suited to investors who can accept a more volatile path in exchange for exposure to large Indian companies and a portfolio that is meaningfully tilted to banks and other leaders.

The fund has not been uniformly strong across time. The longer-run numbers are positive, but the recent 1-year return is negative and trails the benchmark over that period. That makes it more suitable for a patient investor who is willing to look beyond short stretches of weakness and who wants a large-cap allocation with a concentrated core.

Quick facts

Particular	Details
NAV	₹287.9943 as of 09 Sep 2026
AUM	₹12,189 Cr
Expense Ratio	0.93%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	Nil upto 10% of units and 1% for remaining units on or before 1Y, Nil after 1Y
Fund Managers	Karthikraj Lakshmanan

The fund is managed by Karthikraj Lakshmanan.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.62%	-4.69%
3M	3.54%	0.93%
1Y	-2.8%	-7.16%
3Y	7.52%	6%
5Y	7.11%	5.87%

The short-term picture is uneven. Over 1 month, the fund fell less than the benchmark, which suggests some relative cushioning in a weak phase. Over 3 months, it moved ahead of the benchmark and recovered more strongly, but the 1-year figure remains negative, so the recent path still looks choppy rather than steady.

The longer horizon is more constructive. The 3-year and 5-year returns are both positive and ahead of the benchmark, which tells us the fund has been able to compound better than the index across fuller market cycles. That is important because a large-cap fund is often judged on consistency over time rather than on one isolated quarter or month.

The time pattern also shows that returns have not moved in a straight line. There have been periods of clear drawdown and recovery, which fits a fund that can be affected by broad equity swings even while holding large, established companies. For investors, that means recent weakness should not be read in isolation, but it does show that the journey can be uncomfortable.

On balance, the fund is ahead of the benchmark over 3 years and 5 years, but behind over 1 year. Our read is that the longer-term compounding story is better than the near-term one, which makes horizon discipline especially important here.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD UTI 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
UTI Large Cap Fund Direct Growth Plan	-2.8%	7.52%	7.11%
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%

Our read is that the fund’s 1-year return is weaker than the peer figures shown here, while several peers have held up better in the same period. Over 3 years, the fund is still positive, but it trails the stronger peer outcomes available in this set, which points to a softer intermediate-run compounding profile.

Over 5 years, the fund’s return is positive, but the peer set with available 5-year numbers is ahead. That means the comparison is mixed across horizons: the fund has done better than the benchmark over longer periods, yet it has not matched the stronger peer numbers shown here. This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eq – ICICI Bank Ltd	Bank	9.27%
Eq – HDFC Bank Limited	Bank	8.64%
Eq – Reliance Industries Ltd.	Crude Oil	5.02%
Eq – Kotak Mahindra Bank Ltd.	Bank	4.83%
Eq – Bharti Airtel Ltd.	Telecom	3.96%
Eq – Larsen & Toubro Ltd.	Infrastructure	3.91%
Eq – Eternal Limited	Retailing	3.49%
Eq – Infosys Ltd.	IT	3.49%
Eq – Bajaj Finance Ltd.	Finance	3.43%
Eq – Axis Bank Ltd.	Bank	3.12%

The top 10 holdings account for approximately 49.16% of the portfolio.

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

The largest holding, ICICI Bank at 9.27%, is meaningful on its own and is likely to have greater influence than most of the rest of the list. After that, the weights step down fairly quickly, with HDFC Bank at 8.64% and the tenth holding, Axis Bank, at 3.12%.

That spread suggests a core built around a few larger positions, especially banks, rather than an evenly spread basket. At the same time, the fund still holds 54 positions in total, so the visible list points to a mix of concentration at the top and broader diversification underneath.

Because the top 10 holdings make up 49.16% of the portfolio, the fund’s return profile may be influenced by how these larger names behave. The long tail matters too, but the biggest positions are large enough that they are likely to shape the fund’s short- to medium-term movement.

Source data date: as of 09 Sep 2026

Who should invest

This fund may suit investors who are comfortable with High Risk exposure and who can stay invested through uneven phases. The 1-year return is weak, but the 3-year and 5-year results are positive and ahead of the benchmark, which makes a patient horizon more important than a short holding period.

The main trade-off is between higher portfolio quality and a return path that can still be volatile. The bank-heavy top holdings and the recent drawdown suggest that the fund can move sharply with market sentiment even though it stays within large-cap territory. Investors looking for a steadier short-term experience may find that trade-off uncomfortable.

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 upto 10% of units and 1% for remaining units on or before 1Y, Nil after 1Y.

Source data date: as of 09 Sep 2026

Frequently asked questions

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

The current NAV is ₹287.9943 as of 09 Sep 2026.

What are the 1-year, 3-year and 5-year returns?

The 1-year return is -2.8%, the 3-year return is 7.52%, and the 5-year return is 7.11%.

How does it compare with the benchmark?

It is ahead of the Nifty 50 over 3 years and 5 years, while the 1-year return is better than the benchmark but still negative. That makes the longer-term picture stronger than the recent one.

How does it compare with peer funds?

Its recent 1-year return is weaker than several peer funds shown here, and its 3-year and 5-year returns also trail the stronger peer numbers available in this set.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Karthikraj Lakshmanan. The exit load is nil upto 10% of units and 1% for remaining units on or before 1Y, and nil after 1Y.

Bottom line

UTI Large Cap Fund Direct Growth Plan shows a clear split between recent and longer-term performance: the 1-year return is negative, while the 3-year and 5-year figures are positive and ahead of the benchmark. In peer comparison, the fund is behind several peers on the available return data, which makes the longer-term story respectable but not standout. The High Risk tag and the bank-heavy top holdings mean this is a fund that may still move with market swings even inside large caps, so it fits investors who can tolerate uneven periods and wait for compounding to work over time.

Published on 10 September 2026 at 4:04 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.