Nippon India Vision Large and Midcap Fund: Track record of long-term wealth creation

Current market scenario

The market has bounced back after United States and Iran agreed on a 15-day ceasefire. Brent crude price has retreated from $110 per barrel level to below $100 a barrel. The Nifty recovered by almost 2,000 points, bouncing back from its 52-week low of 22,331 to 24,330 level. The sharp correction during the 40-day war between US / Israel and Iran brought down valuations to relatively attractive levels, especially in the large and midcap segments (please see the chart below). Equities may make a strong recovery if lasting ceasefire deal can be agreed and energy flows restored in the Gulf region. In current market conditions large and midcap funds may be suitable long-term investors.

In this article, we will review Nippon India Vision Large and Midcap, an equity fund with a 30-year track record of wealth creation, with impressive performance even in recent times.

Source: NSE, as of 31^st March 2026

What are large and midcap funds?

Large and Midcap funds are equity funds with a diversified portfolio and as per the SEBI mandate they invest a minimum of 35% each in large cap and midcap stocks. The remaining 30% of the portfolio can be invested at the discretion of the fund manager. Large Cap stocks are the top 100 stocks by market capitalization, whereas the midcap stocks belong to the 101^st to 250^th stock by market capitalization in India. Large cap allocation in these funds offers potential stability during volatile market conditions, and provides downside protection, whereas the Midcap stocks offer a higher growth potential leading to potential capital appreciation in the long term.

Wealth creation track record of Nippon India Vision Large and Midcap Fund

The chart below shows the growth of Rs 1 lakh investment in the Nippon India Vision Large and Midcap Fund since the inception of the scheme. You can see that your investment would have multiplied 145X to Rs 1.45 crores (as on 16^th April 2026).

Source: Advisorkhoj Research, as of 31^st March 2026

Superior rolling return performance versus benchmark

The chart below shows the 3 year rolling returns of the fund in the last 5 years since April 2021 as compared to the benchmark index. You can see that the fund consistently outperformed the benchmark index.

Source: Advisorkhoj Research, as of 16^th April 2026

Superior rolling return performance versus category

The chart below shows the 3 year rolling returns of the Nippon India Vision Large and Midcap Fund in the last 5 years, as compared to the large and midcap funds category average. You can see that the fund consistently outperformed the peer average.

Source: Advisorkhoj Research, as of 16^th April 2026

Consistently in the top 2 quartiles

The graphic below shows the quartile ranking of Nippon India Vision Large and Midcap fund over the last 12 quarters ending 31^st December 2025. You can see that the fund ranked in top 2 quartiles, 8 times in the last 12 quarters.

Source: Advisorkhoj Research, as of 31^st December 2025

Reduced downside risks for investors

The chart below shows the drawdowns of the fund versus the benchmark index over the last 3 years. You can see that the Nippon India Vision Large and Midcap fund was able to reduce downside risks compared to the benchmark index.

Source: Advisorkhoj Research, as of 16^th April 2026

Wealth creation through SIP

The chart below shows the growth of Rs 10,000 monthly SIP in Nippon India Vision Large and Midcap Fund since the inception of the scheme. You can see that with a cumulative investment of Rs 36.7 lakhs, you could have accumulated a corpus of Rs 11.1 crores (as of 16^th April 2026)

Source: Advisorkhoj Research, as of 31^st March 2026

Rolling SIP returns - Why you should have long SIP horizon

The chart below shows the 10-year rolling SIP XIRR returns of Nippon India Vision Large and Midcap Fund since the inception of the scheme. You can see that the fund was able to give double digit SIP XIRR most of the time (around 90% of instances). The average 10-year rolling SIP XIRR of the fund was 14%. The fund gave 12%+ XIRR returns in over 73% of the instances.

Source: Advisorkhoj Research, as of 16^th April 2026

Investment Strategy

The fund attempts to invest in high-quality businesses that are market leaders in their respective sectors and have a proven track record across market conditions. Large-cap stocks endeavor to provide stability and liquidity to the portfolio, and mid-cap allocations can potentially generate better returns. Backed by fund management expertise and a growth-oriented strategy, the fund endeavors to generate better risk-adjusted returns over the long term. The fund has a large cap bias with 62% of its assets in shares of large cap companies.

Current portfolio positioning

Source: Nippon India Mutual Fund, as of 31^st March 2026

Why should you invest in Large and Midcap funds?

• Historically, large & Midcap has provided above average risk-adjusted returns as compared to large caps


• Large & Midcaps provide the combination of stability through large caps and growth through midcaps


• Large & Midcaps category provides fair exposure to both established sectors as well as balanced exposure to promising or new age sectors


• Fund manager can overweight/underweight large, and midcaps based on his views. There is scope for alpha creation through active management


• DIY Investors may face tax & added cost implications by rebalancing the portfolio or shifting across market caps themselves. Nippon India Vision Fund is an efficient way to participate in large and midcaps segment.

Who should invest in Nippon India Vison Large and Midcap Fund?

• Investors who would like to benefit from the well positioned fund portfolio to gain significantly from the domestic revival can find this fund suitable.


• The fund is suited to investors who have a long-term investment horizon of 10 years or more.


• Investors can align their long-term goals like retirement planning or children’s education with this fund.


• The fund is also suited to investors who want to mitigate their risks from Midcap investments, but at the same time would like to earn higher returns which are typically offered by Midcap stocks. The large cap component of the fund offers stability during volatile market conditions.


• The fund is suitable for investments through SIP.


• Investors who have lumpsum funds but are worried about short term volatility can invest in Nippon India Liquid fund can transfer through STP to Nippon India Vison Large and Midcap Fund over 3 - 6 months.

Contact your financial advisor or mutual fund distributor to understand if the Nippon India Vision Large and Midcap Fund align to your financial goals and risk appetite.