Nippon India Vision Large and Midcap Fund: 145X wealth multiplier since inception

Current market scenario

Market sentiment has been weak due to headwinds from continuing FII sell-off and depreciatory pressure on the INR. Though crude oil prices have retreated from the highs, stalemate between US and Iran in the Persian Gulf and prolonged disruption of oil and gas flows due to closure of the Strait of Hormuz has caused uncertainty and dampened foreign investor risk sentiments. The sharp correction over the past few months has brought valuations to relatively attractive levels, especially in the large and midcap segments. Historical data shows that Indian equities may make a strong recovery from deep corrections in the past e.g. COVID-19. In current market conditions large and midcap funds may provide attractive investment options for 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.

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 101st to 250th 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 31^st May 2026).

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

Superior rolling return performance versus benchmark

The chart below shows the 3-year rolling returns of Nippon India Vision Large and Midcap Fund versus its benchmark index over the last 5 years. You can see that the fund consistently outperformed the benchmark index.

Source: Advisorkhoj Research, as of 5^th June 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 versus the large and midcap funds category average over the last 5 years. You can see that the fund consistently outperformed the category average.

Source: Advisorkhoj Research, as of 5^th June 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 March 2026. 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 March 2026

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. The maximum drawdown for Nippon India Vision Large and Midcap fund during this period was 17%, while the maximum drawdown for the benchmark index for the benchmark index, Nifty Large Midcap 250 TRI was 19%.

Source: Advisorkhoj Research, as of 5^th June 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 36.8 lakhs, you could have accumulated a corpus of Rs 11.2 crores (as of 31^st May 2026)

Source: Advisorkhoj Research, as of 31^st May 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 median 10-year rolling SIP XIRR of the fund was 14.84%. The fund gave 12%+ XIRR returns in over 73% of the instances.

Source: Advisorkhoj Research, as of 5^th June 2026

The table below rolling SIP XIRR distribution of Nippon India Vision Large and Midcap Fund for different investment tenures since the inception of the scheme. The SIP rolling XIRR distribution shows that SIP investors should have long investment tenures.

Source: Advisorkhoj Research, as of 5^th June 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. The fund is true to label (large and midcap), with no exposure to small cap stocks, unlike peer schemes. 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 60% of its assets in shares of large cap companies (versus 45% category average).

Current portfolio positioning

Source: Nippon India Mutual Fund, as of 30^th April 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.


• Investing in large cap and midcap funds separately may increase overlap of your portfolio.


• 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 and can transfer through STP to Nippon India Vison Large and Midcap Fund

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.