The one large-cap fund that beat its benchmark 87% of time

Summary: How many funds can say they’ve beaten their benchmark nearly nine times out of ten over the past five years? We crunched a decade’s worth of numbers on India’s top large-cap funds, looking beyond headline returns to see who delivers most of the time. What we found might surprise you. While Nippon India and ICICI Prudential’s funds have done exceptionally well, there’s another large-cap fund that has won the consistency sweepstakes. Large-cap funds are often the core of an investor’s equity portfolio. They invest in the country’s biggest, most stable companies. Think of market leaders with strong balance sheets and proven track records, such as Reliance and HDFC Bank. While they won’t usually shoot the lights out in a bull run like small- or mid-caps might, they can deliver solid, steady returns over time. But steady doesn’t mean equal. Even within the large-cap category, some funds have been far more consistent than others. Let’s start with the five best-performing large-cap funds of the past 10 years, based on simple point-to-point returns: Fund 10-year annualised returns Nippon India Large Cap 14.67% ICICI Pru Large Cap 14.52% Canara Robeco Large Cap 14.43% Invesco India Largecap 13.88% Mirae Asset Large Cap 13.69% Note: Direct plans; As of August 12, 2025 Point-to-point vs rolling returns The above figures are point-to-point returns. They measure the growth of your investment if you had invested on a specific date 10 years ago and stayed invested until now. While that’s useful, there’s a catch. Point-to-point returns are highly dependent on the start and end dates. For example, if your starting date was right after a market crash, your return will look unusually high. If it were just before a crash, it would look unusually low. That’s why we prefer rolling returns to judge a fun