How many large & mid-cap funds have a 5-star rating today?

Summary: We sifted through all 33 actively managed funds in this category to find the ones with a perfect five-star rating from Value Research. But we didn’t stop there. We dug deeper to see whether these funds have actually walked the talk over the long term. From their 10-year track records to five-year rolling returns (a far better test of consistency than just point-to-point numbers), we reveal how often these funds beat their benchmark, how frequently they delivered double-digit returns and how many times they produced blockbuster 25 per cent-plus annualised gains. When it comes to mutual funds, investors are usually familiar with large-cap funds (that invest in market heavyweights) and mid-cap funds (that chase faster-growing mid-sized companies). But there’s a third category that combines the best of both worlds: large & mid-cap funds. These funds must invest at least 35 per cent each in large-cap (top 100 companies by market capitalisation) and mid-cap stocks (companies ranked 101 to 250 by market capitalisation), which gives them a nice balance of stability and growth potential. And you may be surprised to know this is not a small fund category. There are 33 actively managed large & mid-cap funds in the market right now, with 10 large &mid-cap funds having net assets worth Rs 10,000 crore and more. The biggest of them all is Mirae Asset Large & Midcap Fund, which manages roughly Rs 40,000 crore. Clearly, investors see this as a sweet spot between the safety of large caps and the excitement of mid caps. How Value Research Rating works Before we talk about which large & mid-cap funds have earned five stars, let’s understand what Value Research star ratings really mean. Our star rating system looks purely at risk-adjusted past performance. It compares a fund with its peers in the same category, looking at both returns and volatility. Funds that have