Canara Robeco Mutual Fund, one of India’s oldest asset management companies, is celebrating the 20-year milestone of its flagship equity offering, the Canara Robeco Large & Mid Cap Fund. The fund, an open-ended scheme investing across both large-cap and mid-cap stocks, has become a cornerstone for investors seeking long-term wealth creation.
Originally launched as Canara Robeco Emerging Equities, the fund was renamed to reflect its strategic focus on India’s largest and mid-sized companies. The fund tracks the NIFTY Large Midcap 250 TRI as its primary benchmark, aiming to generate capital appreciation through a diversified portfolio spanning market capitalizations.
As of May 30, 2025, the fund boasts an impressive Assets Under Management (AUM) of ₹25,092 crore. Performance figures highlight its consistent returns across various timeframes. Over the last one, three, and five years, the regular growth option of the fund has delivered CAGR returns of 12.79%, 18.67%, and 25.13%, respectively. While these returns slightly trail the benchmark over the three- and five-year periods, they outperform the BSE SENSEX TRI, the fund’s additional benchmark, which posted returns of 11.36%, 14.95%, and 21.66% over the same periods.
Since its inception, the fund has delivered a robust CAGR of 17.29%, compared to the additional benchmark’s 14.56%. A notional investment of Rs 10,000 made at the fund’s inception would have grown to Rs 2,52,040 as of May 30, 2025. By contrast, the same investment in the additional benchmark would have resulted in a corpus of only Rs 1,56,340.
For investors committed to systematic investment planning (SIP), the fund’s performance has been equally impressive. A monthly SIP of Rs 10,000 initiated at inception would have translated into a total investment of Rs 24,30,000 by May 2025. This investment would now be worth an astounding Rs 2,02,55,905, delivering an XIRR of 18.05%.
Rajnish Narula, MD & CEO of Canara Robeco Asset Management Company Ltd., said, “Over two decades, we’ve strived to identify enduring investment opportunities across market cycles. Our investors’ trust has been invaluable, and we remain focused on research-driven, disciplined investment strategies.”
The fund maintains a flexible allocation strategy, investing 35-65% of assets in large-cap equities, and another 35-65% in mid-cap stocks. Additionally, it can allocate up to 30% in other equities, debt, or money market instruments, and up to 10% in REITs and InvITs.
“The fund is positioned to tap into India’s growth story through a balanced mix of large and mid-cap companies,” said Shridatta Bhandwaldar, Head – Equities at Canara Robeco AMC. “We focus on identifying businesses with sustainable competitive advantages and strong fundamentals to drive consistent long-term returns.”
Over 98% of the fund’s portfolio is allocated to established businesses with proven operational models and solid balance sheets, providing stability and growth potential for investors.
Gaurav Goyal, National Head – Sales and Marketing, added, “Our Large & Mid Cap Fund has become one of our flagship products, now serving more than 8.45 lakh investors nationwide. It’s a testament to our commitment to helping investors participate confidently in India’s dynamic economic landscape.”
The fund is managed by Shridatta Bhandwaldar and Amit Nadekar, both seasoned professionals with deep expertise in equity markets.
Founded in 1987, Canara Robeco Mutual Fund stands as India’s second oldest mutual fund house, offering a diverse mix of equity, hybrid, and debt schemes tailored to meet evolving investor needs.
Canara Robeco Large & Mid Cap Fund vs other Large & Mid Cap funds
Among Large & Mid Cap funds, Invesco India Large & Mid Cap Fund – Direct Plan shines with a robust 16.58% 1-year return, and a stellar 32.21% CAGR over 3 years, alongside 27.92% over 5 years, and 17.29% over 10 years.
Motilal Oswal Large and Midcap Fund – Direct Plan follows closely, delivering 35.71% in 3 years and 31.72% over 5 years. Over a decade, Mirae Asset Large & Midcap Fund – Direct Plan leads with an 18.62% return, highlighting consistent long-term performance. These funds stand out for blending large-cap stability with mid-cap growth, offering investors attractive risk-adjusted returns.