With India’s stock market growing rapidly, investors are discovering opportunities across the board, and blue-chip stocks are expected to deliver impressive returns. Among the top performers riding this wave is the SBI Large and Midcap Fund – Regular Growth. Backed by SBI Mutual Fund, one of the country’s most trusted and leading asset management companies, this fund stands out as a powerful choice for investors looking to tap into the potential of both stability and growth. The fund’s managers launched it on 26th May 2005. It belongs to the Large and Midcap equity category, aiming to provide long-term capital appreciation and wealth growth through a diversified portfolio that combines both large-cap and mid-cap companies. This blog will help explore the fund’s core features, its performance, investment strategy, and overall suitability for all types of investors.
What is the SBI Large and Midcap Fund Regular Growth?
The SBI Large and Midcap Fund Regular Growth offers an open-ended equity scheme designed to balance both growth and stability. The fund achieves this by investing in a mix of large-cap and mid-cap stocks, while also allocating a small portion to debt and cash equivalents. Given that this is an open-ended fund, it offers instant liquidity with no lock-in period, thus allowing investors the freedom to leave and enter as per their choice. Saurabh Pant and Pradeep Kesavan, fund managers at SBI, manage the fund. They focus on selecting quality companies to support investors’ long-term growth.
Latest Features
The SBI Large and Mid-cap Fund highlights the following features:
- Current NAV: As of 8th August, the NAV is INR 618.234
- Fund Type: Open-ended equity scheme with no lock-in period.
- Objective of investment: The objective is to provide long-term capital appreciation by investing in a diversified portfolio that comprises a merged mix of large-cap and mid-cap companies.
- Minimum Investment: The fund requires a minimum investment of INR 5,000 for a lump-sum investment, and INR 100 for a Systematic Investment Plan (SIP).
- Expense Ratio: As of 31st July 2025, the expense ratio is 1.58% for the regular plan
- Exit Load: Investors are charged a 0.10% exit load if they redeem the fund within 30 days. The fund does not charge any exit load after 30 days.
- Fund Age: The fund has an age of over 20 years since its inception on 26th May 2005.
- Fund Size: INR 33,031.14 as of 30th June 2025.
- Fund Managers: Saurabh Pant since 10th September 2016, and Pradeep Kesavan.
Performance Analysis
The SBI Large and Midcap Fund Regular has delivered returns consistently, quarter after quarter, and has even outperformed its category average over multiple periods.
| Period | Fund Returns (%) | Category Returns (%) |
|---|---|---|
| 1 Year | 1.09% | -7.11% |
| 3 Years | 18.26% | 17.84% |
| 5 Years | 24.39% | 22.81% |
| Since Launch | 14.96% | – |
SBI Large and Midcap Fund Regular Growth Chart – NAV History and Growth Chart
Every stock price has a growth table and line chart that represents the Net Asset Value (NAV) history. Below is a growth table and chart that denotes the NAV of the fund based on the available data points ranging from July to August 2025.
| Date | NAV (INR) |
|---|---|
| 15th July 2025 | 629.26 |
| 18th July 2025 | 681.18 |
| 21st July 2025 | 630.322 |
| 4th August 2025 | 618.234 |
Major Holding of SBI Large and Midcap Fund Regular Growth
| Holding Name | Type | % of Total Holdings | Sector | Notes |
|---|---|---|---|---|
| HDFC Bank Ltd | Equity | 6.87% | Financials | Major holding in the financial sector. |
| 6.79% Govt Stock 2034 | Debt | 5.96% | Debt (Government Bond) | Part of the debt allocation, high credit quality. |
| Bharti Airtel Ltd | Equity | 4.34% | Telecom | Key holding in the telecom sector. |
| Solar Industries India Ltd | Equity | 4.00% | Industrials | Chemical manufacturing exposure. |
| ICICI Bank Ltd | Equity | 3.86% | Financials | Significant financial sector exposure. |
| Kotak Mahindra Bank Ltd | Equity | 3.85% | Financials | Financial sector exposure. |
| Divi’s Laboratories Ltd | Equity | 3.20% | Healthcare | Healthcare sector exposure. |
| State Bank of India | Equity | 3.13% | Financials | Financial sector exposure. |
| MRF Ltd | Equity | 3.07% | Consumer Goods | Consumer goods sector exposure. |
| Infosys Ltd | Equity | 3.05% | Technology | Technology sector exposure. |
| Other Equity Holdings | Equity | ~40.68% | Various (Financials, Technology, Healthcare, etc.) | Remaining equity allocation (total equity ~73.08%). |
| Debt Securities (52 Holdings) | Debt | ~22.23% | Debt (Bonds) | Includes bonds with a modified duration of 3.99 years, YTM 6.88%. |
| Cash & Cash Equivalents | Cash | ~3.06% | Cash | Provides liquidity. |
| REITs & InvITs | Other | 1.64% | Other | Real estate and infrastructure investment trusts. |
How the Fund Invests: Strategy and Sector Exposure
SBI Large and Midcap Fund Regular Growth is known to employ an active investment strategy with its fund managers that select stocks based on the market conditions and growth potential.
Strategy
The fund primarily is known to invest in large-cap stocks, around 40.62% for stability, and around 28.0% in mid-cap stocks for growth. There is a third but small allocation to small-cap stocks, around 7.45% and debt around 0.1%. The fund follows a growth-oriented approach and focuses on quality companies.
Sector Exposure
- Financial Services: 27%
- Basic Materials: 15%
- Consumer Cyclical: 13%
- Healthcare: 10%
- Industries: 10%
- Other Sectors: 23%
Who Should Invest?
The SBI Large and Midcap Fund Regular Growth is suitable for investors of a particular type, but in general, every type of investor can invest in these stocks.
- Investors with Moderate to High Risk Tolerance: The fund maintains an equity-leveraging portfolio of around 94.91%, making it suitable for investors comfortable with market volatility.
- Long-term Investors: This fund is ideal for those investors who want to keep their shares locked in for over 3 years to reduce the risk of market volatility and benefit from its growth.
- Diversified Portfolio: This fund is also quite suitable for those who want to diversify their portfolio and are looking to mix up their large-cap stability with mid-cap growth potential.
- Minimum Investment Enthusiasts: Given the fact that the minimum SIP amount is INR 100 and the lump sum is INR 5000, this suits low and minimum-investment enthusiasts very well.
- Tax-Saving Investors: The fund is quite suitable for those who are tax-conscious and want the benefits of short-term capital tax reduction of 20% or long-term capital gains tax reduction of 12.5%. This, however, comes with terms and conditions.
Costs and Taxation
Costs
- Expense Ratio: 1.58% for the Regular plan, which also includes the management and distribution fees.
- Exit load: 0.10% if redeemed within 30 days, and no fees thereafter.
- No entry load: Since there’s zero entry load, this reduces upfront investment costs.
Taxation
- Short Term Capital Gains (STCG): Taxed at 20% if units are redeemed within 1 year
- Long Term Capital Gains (LTCG): Taxed at 12.5% if the units held exceed INR 125,000 in a financial year and held over a year.
- Dividend Distribution Tax: The tax authorities add dividend income to the investor’s total income and apply a 10% TDS if the dividend exceeds INR 5,000 annually, taxing it according to the investor’s tax slab.
Platform and Regulatory Updates
- SEBI Guidelines: The SBI fund makes sure to adhere to SEBI regulations, thus ensuring transparency and overall investor protection.
- Direct vs Regular Plans: A comparison shows that the regular plan has a higher expense ratio of 1.58% due to commissions, as compared to the direct plan, which offers a lower expense ratio of 0.73%.
- Taxation Updates: The recent tax changes have included a 20% STCG tax and a 12.5% LTCG above INR 1.25 lakhs after a year.
- RBI Interest Rate: The changes in RBI’s monetary policy might end up impacting the fund’s debt component, especially during the rising interest rate periods.
Pros and Cons of SBI Large and Midcap Fund Regular Growth
| Pros | Cons |
|---|---|
| Diversified Portfolio: It balances the large-cap stability (40.62%) with a mid-cap growth (28.08%) and a minimal debt exposure of 0.1%. | Market Volatility: The fund offers high equity exposure of 94.91% thus making it susceptible to market downturns, especially in mid-cap segments. |
| No Lock-In period: This offers the investors liquidity, thus requiring flexibility. | Higher Expense Ratio: The regular plan has a much higher expense ratio of 1.58% as compared to the direct plan, which is 0.73% |
| Good Historical Returns: The fund has been managed by strong professionals for the past 15 years. | Not Suitable For Short-Term Investors: Due to the market fluctuations, investing short-term is not suitable, and it is best suited for 3+ years. |
| Low Investment: Investors can enter the fund with a minimum of INR 100 SIP, or an INR 5000 lump sum | Debt Component Sensitivity: The debt allocation of 0.10% might be affected by the rising interest rates. |
| Low Exit Load: There is a minimum exit load of 0.10% if the fund is redeemed within 30 days; thereafter, there is no exit load. |
Other Options of SBI Large and Midcap Fund Regular Growth
Oftentimes, investors might seek other alternative options in the Large and Midcap sections, and some of these options include:
- HDFC Large and Mid Cap Fund Growth: This fund has a similar risk-return profile with a 5-year CAGR of 24%.
- Kotak Equity Opportunities Fund Growth: This focuses on large and mid-cap stocks, but with a slightly lower expense ratio.
- Mirae Asset Large and Midcap Fund Growth: Investors recognize it for strong performance and diversified holdings.
Conclusion
The SBI Large and Midcap Fund Regular Growth is an attractive choice for investors who are seeking a balance of growth and stability through a diversified portfolio. Given the fact that the fund has over 20 years of operation, and a robust AUM of INR 33,031.14 crores in addition to a strong track record of annualized returns, this is appealing to those investors who like some risk in their portfolio. Financial experts always advise investors to conduct ample market research before investing in any fund.
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