Mumbai, October 30, 2026: HDFC Large Cap Fund, an open-ended equity scheme investing primarily in large cap stocks, has completed 30 years since its launch in October 1996, delivering a compounded annual growth rate (CAGR) of 17.62% as of September 30, 2026.
According to HDFC Mutual Fund, a lump-sum investment of ₹1 lakh at the fund’s inception would have grown to approximately ₹1.30 crore, while a monthly SIP of ₹10,000 since launch would have reached about ₹8.46 crore by September 30, 2026.
Performance across market cycles
Initially known as HDFC Top 100 Fund, the scheme has navigated major market events over three decades, including the Asian financial crisis, the dot-com bust, the 2008 global financial crisis, and the 2020 pandemic sell-off, while maintaining its strategy of investing in India’s leading businesses for the long term.
As of September 30, 2026, the fund’s portfolio spanned sectors such as banking, telecommunications, consumer durables, petroleum products, and pharmaceuticals.
Management and investment approach
The fund is managed by Rahul Baijal, who has been at the helm since July 29, 2022, with Bhagyesh Kagalkar managing gold and silver instruments since August 26, 2026. The scheme aims for long-term capital appreciation and income by focusing on large cap companies, which are considered market leaders in the Indian economy.
Leadership comments on milestone
Navneet Munot, Managing Director and Chief Executive Officer of HDFC AMC, said the 30-year milestone reflects the trust of investors and partners across generations, adding, “Large caps are currently at decent valuations. Investors with a long horizon can consider large cap funds for potential wealth creation.” Fund Manager Rahul Baijal also thanked investors and partners for their support, noting that many large cap companies are trading at relatively reasonable valuations, offering opportunities for long-term investors.
Fund background and regulatory details
HDFC Asset Management Company Limited, incorporated in December 1999 and approved by SEBI in July 2000, manages HDFC Mutual Fund, one of India’s largest mutual funds. The company holds SEBI licenses for PMS and AIF and operates a nationwide branch and distribution network. The fund’s SEBI Registration Number is MF/044/00/6.
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