Union Large & Midcap Fund
Large & Mid Cap Fund · Union Asset Management Company Private Limited
Among the 146 similar large & mid cap funds we track, this one has grown money a bit faster than average. ₹1 lakh invested 5 years ago would be about ₹1.7 lakh today. Investing ₹10,000 every month for the last 5 years would have put in ₹6.1 lakh and grown it to about ₹8.2 lakh. Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹64,350. Funds like this reward patience and punish panic-selling.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.Union Large & Midcap Fund is a large & mid cap fund from Union Asset Management Company Private Limited. It has a track record of about 6.8 years. As of the latest data it carries an RS rating of 78/99 (its recent momentum versus category peers) and a King Score of 66/100 (a long-term quality composite). The current NAV is ₹28.71 (as of 2026-09-16).
Growth of ₹100 - last 5 years
Union Large & Midcap Fund returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -4.2% | -3.84% |
| 3 months | 2.21% | 0.87% |
| 6 months | 8.59% | 7.98% |
| 1 year | 2.9% | 2.0% |
| 3 years (CAGR) | 11.61% | 13.05% |
| 5 years (CAGR) | 11.06% | 12.28% |
The last 5 years return is 11.06% a year (₹1 lakh → ₹1.7 lakh), and the last 3 years return is 11.61% - behind its category's 13.05% average by 1.4 points. Its trailing one-year return is 2.9%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | Union Large & Midc | Benchmark |
|---|---|---|
| 2020 | +25.3% | +14.9% |
| 2021 | +40.0% | +25.0% |
| 2022 | -1.9% | +3.6% |
| 2023 | +28.3% | +20.0% |
| 2024 | +22.3% | +11.8% |
| 2025 | +3.6% | +9.0% |
| 2026 | +2.0% | -9.4% |
Union Large & Midcap Fund beat its benchmark in 5 of the last 7 calendar years. That is a strong hit-rate - most active funds fail to clear their index this often. Consistency against the benchmark matters more than any single great year.
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
What a monthly SIP in Union Large & Midcap Fund would have made
A ₹10,000-a-month SIP, using this fund's actual NAV history. SIP returns (XIRR) differ from lumpsum CAGR because your money goes in gradually, averaging your entry price.
| SIP duration | You invested | It became | XIRR |
|---|---|---|---|
| 3 years | ₹370,000 | ₹416,981 | 7.92% |
| 5 years | ₹610,000 | ₹820,790 | 11.81% |
Over 5 years, ₹610,000 invested in monthly instalments would have grown to about ₹820,790 - an XIRR of 11.81%. Figures are pre-tax and assume you stayed invested throughout.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -35.65% | -32.32% |
| Worst drawdown (3Y) | -18.73% | -18.85% |
| Volatility (1Y) | 18.49% | 17.71% |
| Sharpe (3Y) | 0.32 | 0.37 |
| Sortino (3Y) | 0.6 | 0.69 |
| Beta (3Y) | 1.05 | 1.04 |
| Alpha (3Y) | 5.36% | 6.73% |
| Up capture | 109.7% | 110.04% |
| Down capture | 96.1% | 92.85% |
| Bull-market return | 35.5% | 30.25% |
| Bear-market return | -29.9% | -29.78% |
Timing matters more than people admit: the best possible 1-year stretch in Union Large & Midcap Fund (starting 2020-03-23) gained 93.9%, while the worst (starting 2022-01-17) lost 6.1%. The worst peak-to-bottom fall Union Large & Midcap Fund has ever put investors through is -35.65% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about -29.9% annualised, versus 35.5% in rising markets. It has captured roughly 109.7% of its benchmark's up-moves and 96.1% of its down-moves.
How Union Large & Midcap Fund behaves when markets fall
When the market is falling (the Nifty below its 200-day average), Union Large & Midcap Fund has historically returned about -29.9% annualised, versus roughly 35.5% when the market is rising. Its deepest fall on record is -35.65%. Right now it sits about 4.2% below its all-time high (last hit 2026-08-14). The real question isn't the average year - it's whether you could hold on through the worst one.
How Union Large & Midcap Fund ranks in its category
Percentile versus its ~146 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
| Measure | Value |
|---|---|
| Median 3Y rolling CAGR | 18.82% |
| 3Y windows positive | 100.0% |
| Worst 3Y window | 12.8% |
| 3Y windows beating Nifty 500 | 100.0% |
| Median 5Y rolling CAGR | 19.52% |
Instead of one lucky start date, rolling returns test every start date. Across all 3-year windows in its history, Union Large & Midcap Fund returned a median of 18.82% a year, and 100.0% of those windows were positive.
What Union Large & Midcap Fund holds
Its latest monthly portfolio disclosure. This is what your money actually owns.
Top holdings
Sector allocation
The top 10 holdings make up 25.0% of the portfolio, across 75 stocks. A higher concentration means the fund's fortunes ride on fewer names.
Portfolio overlap with similar funds
Union Large & Midcap Fund shares ICICI Prudential Large & Mid Cap Fund (18%), Invesco India Large & Mid Cap Fund (0%), Motilal Oswal Large and Midcap Fund (0%) of its portfolio with these category peers (overlap = the slice of the two portfolios invested in the same stocks). The lower the overlap, the more genuinely different the portfolios are.
Who manages Union Large & Midcap Fund - and how good are they?
Union Large & Midcap Fund is managed by Pratik Dharmshi and Vinod Malviya. Below is each manager's complete track record - every fund they currently run, judged on the same numbers as everything else on this page - so you can see whether this fund is in strong hands or is the outlier in a weak book.
Pratik Dharmshi's full record
Pratik Dharmshi currently runs 8 funds, across FoF Domestic, Focused Fund, Large & Mid Cap Fund, Large Cap Fund and more, with about ₹6,559 Cr under management. The book's average King Score is 65.2/100. Their strongest fund by King Score is Union Midcap Fund (73/100); Union Large & Midcap Fund ranks #4 of 8 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Union Midcap Fund | 75 | 73 | 1.8% | 11.2% | 7.2% | 15.8% | 14.6% | n/a | 0.53 | 23.1% | -21.3% |
| 2 | Union Retirement Fund | 70 | 73 | 0.4% | 5.8% | 3.1% | 11.9% | n/a | n/a | 0.36 | 18.3% | -17.8% |
| 3 | Union Small Cap Fund | 87 | 68 | 7.6% | 25.0% | 19.9% | 16.5% | 16.7% | 17.1% | 0.51 | 18.5% | -44.7% |
| 4 | Union Large & Midcap Fund (this page) | 78 | 66 | 2.2% | 8.6% | 2.9% | 11.6% | 11.1% | n/a | 0.32 | 18.8% | -35.6% |
| 5 | Union Focused Fund | 70 | 66 | 1.2% | 9.6% | 3.8% | 10.1% | 9.2% | n/a | 0.24 | 16.1% | -34.0% |
| 6 | Union Largecap Fund | 42 | 45 | -1.5% | 0.5% | -4.8% | 6.5% | 6.8% | n/a | 0.01 | 14.2% | -36.4% |
| 7 | Union Business Cycle Fund | 48 | n/a | -0.2% | 7.6% | 2.4% | n/a | n/a | n/a | 0.03 | n/a | -19.9% |
| 8 | Union Diversified Equity All Cap Active FOF | n/a | n/a | 3.6% | 13.3% | n/a | n/a | n/a | n/a | n/a | n/a | -11.5% |
Vinod Malviya's full record
Vinod Malviya currently runs 8 funds, across ELSS, Flexi Cap Fund, FoF Domestic, Focused Fund and more, with about ₹6,308 Cr under management. The book's average King Score is 65.2/100. Their strongest fund by King Score is Union Value Fund (72/100); Union Large & Midcap Fund ranks #2 of 8 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Union Value Fund | 45 | 72 | -1.7% | 2.6% | -0.6% | 10.8% | 11.9% | n/a | 0.28 | 20.0% | -37.7% |
| 2 | Union Large & Midcap Fund (this page) | 78 | 66 | 2.2% | 8.6% | 2.9% | 11.6% | 11.1% | n/a | 0.32 | 18.8% | -35.6% |
| 3 | Union Focused Fund | 70 | 66 | 1.2% | 9.6% | 3.8% | 10.1% | 9.2% | n/a | 0.24 | 16.1% | -34.0% |
| 4 | Union ELSS Tax Saver Fund | 40 | 62 | 0.2% | 4.8% | -2.4% | 9.2% | 9.7% | 12.6% | 0.19 | 14.2% | -35.4% |
| 5 | Union Flexi Cap Fund | 52 | 60 | 2.5% | 7.3% | 0.8% | 10.2% | 9.8% | 13.1% | 0.26 | 13.8% | -35.4% |
| 6 | Union Gold ETF Fund of Fund | 77 | n/a | 0.2% | -2.1% | 35.8% | n/a | n/a | n/a | 1.0 | n/a | -17.2% |
| 7 | Union Multi Asset Allocation Fund | 62 | n/a | 0.2% | 1.8% | 10.2% | n/a | n/a | n/a | 0.31 | n/a | -10.0% |
| 8 | Union Consumption Fund | n/a | n/a | 4.5% | 9.7% | n/a | n/a | n/a | n/a | n/a | n/a | -16.8% |
A caveat worth keeping: funds often have co-managers, and results belong to the whole team and process rather than one person. A manager's book tells you about their range and consistency, not a guarantee of skill.
Cost & fund basics
| Detail | Value |
|---|---|
| Expense ratio (Direct) | 0.86% |
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹1000 |
| Fund size (AUM) | ₹932 Cr |
| Age | 6.8 years |
| Plan / Option | Direct · Growth |
| Benchmark | NIFTY100 |
How Union Large & Midcap Fund compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| Invesco India Large & Mid Cap Fund | 96 | 91 | 21.5% |
| Motilal Oswal Large and Midcap Fund | 96 | 88 | 21.1% |
| ICICI Prudential Large & Mid Cap Fund | 32 | 87 | 13.9% |
| Bandhan Large & Mid Cap Fund | 63 | 85 | 16.8% |
| Edelweiss Large & Mid Cap Fund | 53 | 84 | 13.3% |
| HSBC Large & Mid Cap Fund | 93 | 79 | 16.9% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
Union Large & Midcap Fund review: the bottom line
Related
Frequently asked questions
Is Union Large & Midcap Fund a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, Union Large & Midcap Fund scores 66/100 on our King Score and RS 78/99 within its category, has compounded 11.61% a year over three years, and its worst drawdown was -35.65%. Compare those against your needs and the peer table above.
What is the NAV of Union Large & Midcap Fund today?
The latest NAV is ₹28.71 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
What is the expense ratio of Union Large & Midcap Fund?
The Direct-plan expense ratio is 0.86% a year. The Direct plan is cheaper than the Regular plan because it carries no distributor commission - over decades that gap compounds meaningfully.
Who is the fund manager of Union Large & Midcap Fund?
Union Large & Midcap Fund is managed by Pratik Dharmshi; Vinod Malviya.
Is Union Large & Midcap Fund safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was -35.65% - ₹1 lakh briefly becoming about ₹64,350. As a equity fund, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is Union Large & Midcap Fund good for SIP?
We can't tell you what to do, but here is what actually happened: a ₹10,000 monthly SIP over the last 5 years grew ₹6.1 lakh into about ₹8.2 lakh (XIRR 11.81%). SIPs average your entry price, which helps most in funds that swing hard - check the crash-behaviour section above to see how it treats investors in bad markets.
What are the SIP returns of Union Large & Midcap Fund?
A ₹10,000/month SIP over 5 years would have grown to about ₹820,790 (an XIRR of 11.81%) on ₹610,000 invested, using the fund's actual NAV history. See the SIP table above for other durations.
How does Union Large & Midcap Fund rank among similar funds?
On 3-year returns it sits around the 59th percentile of its category, and its consistency ranks 80th percentile. 100th is best-in-class, 50th is average. See the category-ranking section above.
Is Union Large & Midcap Fund tax-efficient / what about capital gains?
As a equity fund, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See Union Large & Midcap Fund live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
- Interactive price chart with EMAs & RSI
- The RS line plotted against its benchmark
- Full holdings, sector mix & portfolio overlap
- Point-in-time backtester & portfolio doctor
- Compare it side-by-side with any peer
- Screen 1,600+ funds on the same metrics
Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.