Mirae Asset Large & Midcap Fund has completed 16 years, turning a ₹10,000 monthly SIP into ₹96.9 lakh. The fund delivered an XIRR of 18.44%, consistently outperforming benchmark indices over the long term.
The Mirae Asset Large & Midcap Fund recently celebrated 16 years of operation, highlighting the power of long-term wealth creation through systematic investment plans. Investors who started a monthly SIP of ₹10,000 at the fund's inception in July 2010 saw their total investment of ₹19 lakh grow to approximately ₹96.9 lakh by May 31, 2026. This performance reflects an XIRR, or the internal rate of return adjusted for timing, of 18.44%.
Performance Against Benchmarks
The fund’s long-term track record shows it has frequently outperformed major market indices. Over the last 15 years, the scheme reported a compound annual growth rate, or CAGR, of 18.85%. In comparison, the Nifty LargeMidcap 250 Total Return Index delivered a 14.60% CAGR, while the BSE Sensex Total Return Index returned 11.22% during the same period. This comparison indicates that the fund has successfully managed to beat its primary and broader market benchmarks over a long duration.
Fund Management and Strategy
As of May 31, 2026, the fund managed assets totaling ₹42,792.20 crore. The scheme follows an open-ended equity strategy, investing in a mix of large-cap and mid-cap companies. The investment team is led by Neelesh Surana, who has managed the fund since it began, and Ankit Jain, who has been a co-manager since January 2019. The fund’s objective is to generate capital growth by picking stocks from the large and mid-cap space, while maintaining the flexibility to adjust the portfolio based on market conditions.
Factors for Investors to Consider
While the past 16-year performance is notable, investors should understand that equity mutual funds are subject to market risks. The returns of this fund are largely driven by its stock selection in the large and mid-cap segments, which can be more volatile than pure large-cap funds. As with any equity investment, future performance is not guaranteed to match the past. Investors should continue to monitor the fund's portfolio turnover, management stability, and how the fund maintains its performance relative to the Nifty LargeMidcap 250 benchmark in changing market cycles.