Best 4 Large Cap Mutual Funds For 2023 Recommended By ICICI Direct

ICICI Direct in its Mutual Fund Review report published on 23 December 2022 has recommended 4 mutual funds as top picks for 2023. These large-cap mutual funds are ICICI Prudential Bluechip Fund, IDFC Large Cap Fund, Nippon India Large Cap Fund, and Mirae India Large Cap Fund. Below are the key takeaways from the funds:

1. ICICI Prudential Bluechip Fund

This large cap mutual fund from the house for ICICI Prudential Mutual Fund is a 14-year-old fund launched on May 23, 2008. It is a top large-cap mutual fund category bluechip fund with more than 92% investments in domestic equities. Investors have recently become interested in it due to its recent record-breaking growth.

The fund has delivered great performance among peers. Its Asset Under Management (AUM) as on 30 November 2022 is Rs 35,929 crore. Its benchmark is NIFTY 100 TRI. It is an open-ended equity fund with major holdings in the financial sector, followed by the technology, Energy, Automobile and Construction sectors. The top holdings of the fund are ICICI Bank, Reliance, HDFC Bank, Infosys, and Larsen & Toubro. A minimum Rs 100 is required to begin investing in this fund via SIP as well as lumpsum investment.

2. IDFC Large Cap Fund

IDFC Large Cap Fund is another large-cap mutual fund recommended by the brokerage. It is a 16 years old equity fund launched on 9 June 2006 by the IDFC Mutual Fund. It has delivered relatively less return compared to its peer funds in the large-cap category however, the fund has been by top agencies. It has been rated 2 star by CRISIL and 3 star by Value Research. Its benchmark is S&P BSE 100 TRI.

According to the available data, its AUM as on 30 November 2022 is Rs 1,128 crore. It has major investments around 38.41% in the Financial sector followed by Technology, Consumer Staples, Automobile and Energy. In terms of top holdings HDFC Bank, ICICI Bank, State Bank of India, Infosys, and Reliance are its top 5 holdings. Investment in this can be started in this fund with the minimum required amount of Rs 5000 for lumpsum investment and Rs 100 for SIP.

3. Nippon India Large Cap Fund

Nippon India Large Cap Fund is a more than a decade-old large-cap fund, launched on 8 August 2007 by the Nippon India Mutual Fund. The fund has been rated 5 star by CRISIL and 3 star by Value Research, respectively. The Fund has experienced compounded annualised growth over the past five years of about 13.38%, compared to the 7.09% CAGR delivered by its benchmark S&P BSE 100 - TRI Index. When compared to the benchmark and category average, this outperformance has been achieved at a much more manageable risk. Its AUM as on 30 November 2022 is Rs 12,922 crore.

Nippon India Large Cap Fund has major investments in the Financial sector followed by Technology, Services, Consumer Staples, Energy and Construction. Whereas, its top holdings include Housing Development Finance, Larsen & Toubro, Reliance, HDFC Bank, and State Bank of India. The minimum amount required to start investing in this fund is Rs 100 and Rs 1000 for SIP.

4. Mirae Asset India Large cap Fund

Launched on 4 April 2008, Mirae Asset Large Cap Fund is one of the most popular Large Cap Mutual schemes. Its AUM as on 30 November 2022 is Rs 35,407 crore and its expense ratio is 0.51%. It is an open-ended fund with the majority of investments in equity, around 98.07%. It is rated 3 star by CRISIL and 4 star by Value Research, respectively. The Fund's five-year CAGR of growth has been around 11.71%, which is less than its benchmark Nifty 100-TRI index, however, roughly in line with the benchmark. The ability of the fund to produce reasonable risk-adjusted returns allowed it to benefit investors over the long term.

The portfolio of the fund comprised 59 stocks as of November 30, 2022. Large-cap names with high liquidity, including HDFC Bank, ICICI Bank, Infosys, Reliance Industries, and Axis Bank, make up the majority of its exposure. According to the sector, the fund currently has investments in the Financial, Technology, Energy, Healthcare, and Automobile. You can begin investing in this fund with Rs 1,500, the minimum required amount for lump sum investing and a minimum of Rs 1,000 to begin SIP in the fund.

Disclaimer

Mutual fund investments are subject to market risk. Read all scheme-related Terms and Conditions carefully before investing. The above-mentioned information is purely informational and doesn't guarantee any return. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.