- About the ICICI Large & Midcap Cap Fund
- Basic Details
- Classification Portfolio of the fund
- Fund Managers & Tenure of managing the Scheme
- Investment Details
- Returns Generated
- Risk Factors
- Investment Philosophy
- Taxability of Earnings
(A) About the ICICI Large & Mid Cap Fund
ICICI Prudential Asset Management Company’s ICICI Prudential Large & Mid Cap Fund is a diversified equity scheme that invests at least 35% each in large-cap and mid-cap stocks, balancing stability and growth.
The fund follows a benchmark-aware, actively managed approach, combining top-down macro views with bottom-up stock selection, and uses a counter-cyclical strategy to capture opportunities across market cycles.
Overall, it aims to deliver long-term capital appreciation by blending large-cap stability with mid-cap growth potential.
(B) Basic Details of ICICI Large & Mid Cap Fund
| Fund House | ICICI Mutual Fund |
| Category | Equity: Large & Midcap Fund |
| Launch Date | 09-July-1998 |
| Type | Open-ended |
| AUM | ₹27,00,455 Cr (As on 31 March 2026) |
| Available at NAV of | ₹1024.38 (As on 17 Apr 2026) |
(C) Classification Portfolio of the fund
(i) Portfolio Mix by Market Cap Size
(ii) Top 10 Holdings of the ICICI Large & Mid Cap Fund
(iii) Top 10 Sectors Exposures of the ICICI Large & Mid Cap Fund
(D) Fund Manager & Tenure of managing the Scheme
(E) Fund – Investment Details
| ICICI Large & Mid Cap Fund | |
|---|---|
| Application Amount for fresh Subscription (Lumpsum) | ₹5000 |
| Min Additional Investment (SIP) | ₹100 |
| Exit load | 1%* |
| Lock In | No |
| Expense Ratio | 1.64% (As on 31st Mar 2026) |
(F) Returns Generated By The Fund
(G) Risk Factors
(i) Top Drawdowns
ICICI Prudential Large & Mid Cap Fund has experienced periodic market-linked drawdowns, with the worst decline of -37.84% during the COVID-19 market crash, but it demonstrated strong resilience by recovering relatively quickly.
Most drawdowns typically fall in the -10% to -20% range, indicating moderate volatility due to its mix of large-cap stability and mid-cap growth exposure.
The fund has shown a consistent ability to recover within a few months, highlighting strong portfolio construction and effective sector allocation.
Recent corrections, including the ongoing ~-13% drawdown, appear cyclical in nature and already on a recovery path, rather than indicating any structural weakness.
Overall, the fund is suitable for long-term investors who can tolerate short-term volatility, as drawdowns have historically been temporary with strong bounce-backs.
(H) Investment Philosophy
The fund follows a dynamic and counter-cyclical investment strategy, combining top-down macro views with bottom-up stock selection.
- Maintains minimum 35% allocation each to large and mid caps
- Follows a benchmark-agnostic approach to capture opportunities
- Uses top-down sector rotation based on market cycles
- Applies bottom-up stock selection focusing on profitability, scalability, and competitive strength
- Adopts a counter-cyclical approach, avoiding overheated sectors and investing in undervalued opportunities
- Builds portfolio based on global vs domestic economic exposure
- Allows tactical allocation to small caps for alpha generation
Taxation
(I) Taxability on earnings
Capital Gains Taxation
- If you sell mutual fund units after 1 year of investment, gains up to ₹1.25 lakh in a financial year are exempt from tax, while gains above this are taxed at 12.5%.
- If you sell within 1 year of investment, the entire gain is taxed at 20%.
- No tax is payable as long as you continue to hold the units.
Dividend Taxation
- Dividends from mutual funds are taxed as per the investor’s income tax slab.
- If the dividend income exceeds ₹10,000 in a financial year, a 10% TDS is deducted by the fund house before payout.
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References: valueresearchonline.com, Industry’s Publications, News Publications, Mutual Fund Company.
Disclaimer: The report only represents personal opinions and views of the author. No part of the report should be considered as recommendation for buying/selling any stock. In summary, the report and its references are presented to offer readers an informational overview of the discussed industry.
Overall, the report and accompanying references serve an informational purpose, helping readers better understand the stated industry.
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