Motilal Oswal Large and Midcap Fund is an open-ended equity mutual fund that aims to provide medium to long-term capital appreciation by investing primarily in large and mid-cap stocks. Launched on October 1, 2019, the fund has been in operation for over five years.
Fund Overview:
- Fund Category: Equity – Large & Mid Cap
- Launch Date: October 1, 2019
- Benchmark: NIFTY LargeMidcap 250 TRI
- Assets Under Management (AUM): ₹7,624.82 crore (as of February 28, 2025)
- Expense Ratio: 1.75% (as of February 28, 2025)
Minimum Investment:
- Lump Sum: ₹500
- SIP (Systematic Investment Plan): ₹500
- NAV (as of March 13, 2025): ₹27.092
- Expense Ratio: 1.74% (as of March 28, 2025)
Fund Managers of Motilal Oswal Large and Midcap Fund
As of the latest data (2025), the Motilal Oswal Large and Midcap Fund is managed by a team of experienced fund managers:
Ajay Khandelwal
- Role: Fund Manager – Equity
- Background: Has experience in equity research and fund management across sectors.
Niket Shah
- Role: Chief Investment Officer (CIO) – Equities
- Background: Known for his strong research-driven approach; focuses on growth-oriented investing.
Ankush Sood
- Role: Associate Fund Manager
- Background: Specializes in mid and small-cap analysis.
Rakesh Shetty
- Role: Fund Manager – Equity
- Background: Focuses on quantitative research and thematic investing.
These fund managers collectively bring a blend of top-down and bottom-up investing strategies to the fund, aiming to spot both established and emerging growth opportunities across large and mid-cap segments.
Risk Assessment:
The fund is categorized under the “Very High” risk grade, indicating that it is suitable for investors with a high risk tolerance seeking substantial returns over a long-term horizon.
Suitability:
This fund is appropriate for investors aiming for long-term capital growth and who are comfortable with the volatility associated with equity investments, particularly in mid and small-cap segments. A minimum investment horizon of five years is advisable to mitigate short-term market fluctuations.
Conclusion:
Motilal Oswal Large and Midcap Fund has shown strong performance since its inception, outperforming its benchmark across various periods. However, potential investors should consider the fund’s high expense ratio and the inherent volatility associated with its significant allocation to mid and small-cap stocks. As always, aligning investment choices with individual financial goals and risk tolerance is crucial.
Motilal Oswal Large and Midcap Fund Portfolio
As of February 28, 2025, the Motilal Oswal Large and Midcap Fund maintains a diversified portfolio with the following key allocations:
Top Equity Holdings:
- Eternal Ltd.: 6.52%
- Bharti Airtel Ltd.: 6.04%
- Trent Ltd.: 5.99%
- HDFC Bank Ltd.: 3.51%
- Kalyan Jewellers India Ltd.: 3.47%
Sector Allocation:
- Capital Goods: 24.87%
- Services: 21.57%
- Financial: 8.95%
- Consumer Discretionary: 6.75%
Asset Allocation:
- Equity: 97.92%
- Debt: 0.8%
- Cash & Cash Equivalents: 1.28%
Market Capitalization Breakdown:
- Large Cap Stocks: 36.36%
- Mid Cap Stocks: 40.1%
- Small Cap Stocks: 21.46%
Motilal Oswal Large and Midcap Fund Returns
| Period | Fund Returns | Category Average | Rank within Category |
| 1 Year | 9.3% | 0.1% | 3rd |
| 3 Years | 22.5% | 15.4% | 2nd |
| 5 Years | 21.7% | 17.7% | 5th |
| Since Inception | 22.8% | N/A | N/A |
These figures indicate that the fund has consistently outperformed the category average across multiple time frames.
Motilal Oswal Large and Midcap Fund Direct Growth
As of March 17, 2025, the Motilal Oswal Large and Midcap Fund – Direct Growth has the following key details:
| Period | Fund Returns | Category Average | Rank within Category |
| 1 Year | 15.26% | 1.20% | 1st |
| 3 Years | 23.10% | 14.56% | 1st |
| 5 Years | 25.09% | 21.08% | 6th |
This fund aims for medium to long-term capital appreciation by investing primarily in large and mid-cap stocks. Its performance has consistently outpaced the category average, reflecting strong management and strategic allocation.
Motilal Oswal Large and Midcap Fund Regular Growth
As of March 18, 2025, the Motilal Oswal Large and Midcap Fund – Regular Growth has the following key details:
| Period | Fund Returns | Category Average | Rank within Category |
| 1 Year | 13.80% | 10.99% | 2nd |
| 3 Years | 21.61% | 15.01% | 1st |
| 5 Years | 27.78% | 25.49% | 6th |
This fund aims for medium to long-term capital appreciation by investing primarily in large and mid-cap stocks. Its performance has consistently outpaced the category average, reflecting strong management and strategic allocation.
Motilal Oswal Large and Midcap Fund Performance
As of April 4, 2025, the Motilal Oswal Large and Midcap Fund has demonstrated the following performance:
| Time Period | Fund Returns | Category Average | Rank within Category |
| 1 Year | 6.84% | -1.43% | 8th out of 29 funds |
| 2 Years | 28.68% (annualized) | 22.98% (annualized) | 3rd out of 26 funds |
| 3 Years | 20.51% (annualized) | 13.34% (annualized) | 1st out of 36 funds |
| 5 Years | 30.51% (annualized) | 27.30% (annualized) | 5th out of 26 funds |
Conclusion:
The Motilal Oswal Large and Midcap Fund has consistently outperformed its category averages across multiple time frames, indicating strong management and effective investment strategies. Investors should consider their financial goals and risk tolerance before investing.
Strengths of Motilal Oswal Large and Midcap Fund:
1) Strong Long-Term Performance:
- The fund has delivered 20%+ annualized returns over 3 and 5 years, outperforming its category average and benchmark consistently.
2) Focused Investment Strategy:
- Follows a buy and hold strategy with a concentrated portfolio of high-conviction large and mid-cap stocks, which can generate strong alpha over time.
3) Experienced Fund Management:
- Managed by a seasoned team including Ajay Khandelwal, Rakesh Shetty, and Atul Mehra, with expertise in identifying growth opportunities in Indian equities.
4) High Exposure to High-Growth Sectors:
- Heavily invested in sectors like Capital Goods, Services, and Financials, which are poised to benefit from India’s long-term economic growth.
5) Clear Stock Selection Framework:
- Uses a QGLP philosophy (Quality, Growth, Longevity, and Price) which focuses on high-quality businesses with sustainable competitive advantages.
6) Well-Diversified Across Caps:
- Though categorized as a Large & Midcap fund, it maintains a good balance across large, mid, and even some high-performing small-cap stocks.
Risks of Motilal Oswal Large and Midcap Fund:
1) High Volatility:
- With a beta of 1.34 and a standard deviation of 21.59, the fund is relatively more volatile than peers — meaning greater NAV fluctuations during market swings.
2) Concentrated Portfolio:
- The fund typically holds 25–30 stocks, which can increase stock-specific risk if any of the top holdings underperform.
3) Higher Expense Ratio (Regular Plan):
- The 1.74% expense ratio (for Regular Plan) is on the higher side, which can eat into returns, especially in sideways or bearish markets.
4) Aggressive Small-Cap Tilt:
- Despite being a Large & Midcap fund, it has over 39% exposure to small-cap stocks, which may increase risk during downturns.
5) Sector Concentration Risk:
- Heavy tilt toward select sectors (e.g., Capital Goods and Services) may hurt performance if those sectors lag.
6) Short-Term Underperformance:
- In the last 1 year (as of April 2025), the fund delivered only 6.84%, underperforming many peers during short-term market corrections.
Conclusion:
Motilal Oswal Large and Midcap Fund is best suited for aggressive investors with a long-term horizon (5+ years) who are comfortable with short-term volatility. Its strong track record and quality-focused strategy make it a solid bet for wealth creation, but it’s important to be mindful of its higher risk profile and concentrated bets.
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