Choice Large & Mid Cap Fund is a new equity scheme from Choice Mutual Fund, run by Choice AMC Private Limited. The NFO (new fund offer, the window when a scheme first sells units) opens on 20-10-2026 and closes on 03-11-2026.
The fund aims to grow your money over the long term by investing mainly in big and mid-sized listed companies. It is actively managed, so a fund manager picks the stocks. It is a mutual fund, which pools many investors’ money.
Large companies give a portfolio its base. Mid-sized ones add room to grow. You can start with ₹1,000, or ₹250 a month through a Chhoti SIP if you are a first-time investor.
Choice Large & Mid Cap Fund NFO details
Fund name | |
Fund type | Open-ended equity scheme |
Category | Large & Mid Cap Fund |
Nature of scheme | Actively managed |
Benchmark | NIFTY Large Midcap 250 Total Return Index (TRI) |
Fund manager | Rochan Pattnayak |
NFO opens | 20-10-2026 |
NFO closes | 03-11-2026 |
Allotment / reopening | Within five business days of allotment. Allotment date: Not available |
Minimum investment | ₹1,000 |
Additional investment | ₹1,000 |
SIP amount | ₹500 monthly; ₹250 daily or weekly; Chhoti SIP ₹250 |
NAV | ₹10 per unit during the NFO |
Plans and options | Regular and Direct; Growth only |
Stamp duty | Charged at the applicable rate |
Entry load | Not applicable |
Exit load | 1% before 365 days; nil after |
Choice AMC details
AMC name | Choice AMC Private Limited |
Assets under management | New Fund Offer (NFO) from October 20 to November 3, 2026 |
Website | |
Office address | Sunil Patodia Tower, Plot No 156-158, J.B. Nagar, Andheri (East), Mumbai 400099 |
Contact number | 1800 266 3866 (toll free) |
Source: AMFI India New fund offer: Choice Large & Mid Cap Fund
What has Choice AMC launched?
The Choice Large & Mid Cap Fund is an open-ended equity mutual fund. Open-ended means you can buy or sell units on any business day after it reopens.
It invests in two kinds of companies. Large caps are the 100 biggest listed companies by market value. Mid caps are those ranked 101 to 250. It keeps 35% to 65% in each group and at least 70% in equity.
The rest has room to move. Up to 30% can go into other stocks, and up to 30% into debt, money market, gold and silver instruments. Up to 10% can go into InvITs, which are trusts that own infrastructure assets.
Its benchmark is the NIFTY Large Midcap 250 TRI, an index that also counts dividends. The goal is long-term growth, which the scheme does not guarantee.
Also read: A comprehensive guide to mutual funds in India
How does the Choice Large & Mid Cap Fund work?
Think of it as two layers: a base of large companies and a growth layer of mid-sized ones, tuned by the manager to keep the portfolio diversified.
Step | Stage | What happens? |
1 | Start with the universe | The manager looks at the top 250 listed companies by market value. |
2 | Shortlist companies | Firms with above-average growth, strong finances and fair prices make the cut. |
3 | Set the base | Between 35% and 65% goes to large caps, and the same range to mid caps. |
4 | Use the flexible 30% | Other stocks, debt, gold or silver can be added. |
5 | Hedge when needed | Derivatives are used only to hedge. |
6 | Spread it out | The aim is a reasonably diversified portfolio at all times. |
7 | Restore the mix | If a limit is crossed, the mix is corrected within set deadlines. |
Let’s understand through an example
Take Meera, a 34-year-old salaried professional in Pune. She puts ₹10,000 into the NFO at ₹10 a unit. That buys about 1,000 units, slightly fewer after stamp duty.
Until allotment, the money waits in short-term government instruments. Then the manager has up to 30 business days to invest it across large and mid-sized companies.
After that, her units are priced at the daily NAV. If she redeems within a year, the 1% exit load applies.
Choice Large & Mid Cap Fund portfolio allocation
This is the fund’s asset allocation under normal conditions, as a share of total assets.
Instrument | Minimum | Maximum |
Equity and equity related instruments | 70% | 100% |
Large cap companies | 35% | 65% |
Mid cap companies | 35% | 65% |
Other companies | 0% | 30% |
Debt, money market, gold and silver instruments | 0% | 30% |
InvIT units | 0% | 10% |
Investment strategy of the fund
Stock picking is the heart of it. The manager backs companies with above-average growth, competitive strengths, strong finances, reasonable prices or value waiting to be unlocked.
There are firm limits. Derivatives are for hedging only, up to 50% of the equity part. InvITs are capped at 10% of NAV, and 5% for any single issuer.
For liquidity, the scheme can hold cash and short-term government instruments. If the mix shifts for defensive reasons, it is corrected within 30 calendar days.
Potential benefits
Potential benefit | Why does it matter? |
Two segments in one fund | You get both company sizes without buying two funds. |
Active management | A manager decides the stocks and the mix within set limits. |
Room to flex | Up to 30% can sit outside large and mid caps. |
Low starting amount | ₹1,000 lump sum, or a ₹250 Chhoti SIP for first-time investors. |
Key points to note before the NFO closes
Point | What does it mean? |
Exit load | 1% if you redeem or switch out within 365 days. Nil after that. There is no entry load. |
Regular or Direct | Quote a broker code and do not pick Direct, and you get Regular. Otherwise you get Direct. |
Growth only | There is no IDCW (dividend payout) option. Gains stay invested. |
New scheme | It has no performance history yet. |
Deployment time | Money is invested within 30 business days of allotment, extendable by 30 with recorded reasons. |
Running costs | Expenses are charged to the scheme. See the daily TER on the Choice MF website. |
Who may consider this fund?
Investor type | Why it may fit |
A salaried investor in their 30s saving for retirement | The long-term objective suits a long horizon, and SIPs start at ₹500 a month. |
Parents funding a child’s education in 2036 or later | Growth option keeps gains invested; the exit load ends after a year. |
A first-time mutual fund investor | The Chhoti SIP starts at ₹250 a month. |
Who may not find it suitable?
Investor type | Why it may not fit |
Someone who needs the money within a year | Exiting before 365 days costs a 1% exit load. |
Someone who wants regular payouts | There is no IDCW option, only growth. |
Someone who wants a guaranteed return | The scheme offers no assured or guaranteed return. |
Someone who wants to study a track record first | This is a new scheme with no performance history. |
How it compares with traditional investment options
Option | Return potential | Liquidity | Horizon | Suitable investor |
Fixed deposit | Fixed rate | Early exit, often with a penalty | Short to medium | Wants a known return |
Debt mutual fund | Bond interest income | Business days | Short to medium | Parks money for a few years |
Hybrid fund | Equity and debt mix | Business days | Medium to long | Wants both in one fund |
Equity mutual fund | Linked to company growth | Business days | Long | Has a long goal |
This fund | Linked to large and mid-sized company growth | Business days after reopening; 1% exit load under a year | Long | Has a long goal |
Choice Large & Mid Cap Fund review by Zenith Finserve
Our reading: this fund fits a goal ten years or more away, such as retirement or a child’s education. The mandate targets long-term growth, and the 1% exit load in year one suits money you will not touch. Know your investment horizon first.
In a portfolio, it works as a growth holding. Since up to 30% can sit outside both groups, the manager has more freedom than a plain large and mid cap index. If you already own a large cap or flexi cap fund, check the overlap.
It is also Choice’s first equity scheme, and Mr Pattnayak’s current schemes are gold, index and overnight funds. Weigh that when you judge the strategy. Check your own goal and holdings before investing. This is news coverage, not a recommendation.
How Zenith Finserve can help
At Zenith Finserve, we follow a process driven investment framework. We assess your goals, cash flows, risk profile, time horizon, existing investments, loans and tax situation before suggesting investments. We align our investment suggestions with your financial objectives and review them periodically to keep them suitable as your circumstances change.
Explore our mutual fund advisory, investment planning and goal-based financial planning services, or read about Zenith.
Similar NFOs on Zenith
Zenith has covered two NFOs that each match half of this mandate. Both are passive. We have not yet covered an active large and mid cap NFO.
- Quant Nifty Midcap 150 Index Fund NFO: passive mid cap fund, ₹5,000 minimum, nil exit load.
- Quant Nifty 100 Index Fund NFO: passive large cap fund, ₹5,000 minimum, nil exit load.
Frequently Asked Questions
1. Is Choice Large & Mid Cap Fund NFO good to invest in?
Only you can judge that. It suits long goals and money you will not need for a year.
2. When does the NFO open and close?
It opens on 20-10-2026 and closes on 03-11-2026.
3. What is the minimum investment?
₹1,000 lump sum. SIPs start at ₹500 monthly, or ₹250 for daily, weekly or Chhoti SIP.
4. What does the fund invest in?
Large and mid cap stocks, 35% to 65% each. Up to 30% can go to other stocks, debt, gold or silver.
5. Who manages the Choice Large & Mid Cap Fund?
Rochan Pattnayak, an ISB MBA with over 15 years in financial services.
6. What is the exit load?
1% if you exit before 365 days. Nil after that.
7. Is there a dividend option?
No. Only the Growth option is offered, in both Regular and Direct plans.
8. Can I start a SIP during the NFO?
Yes. SIP is available during the NFO and on an ongoing basis.
9. When can I buy and sell units after the NFO?
It reopens within five business days of allotment. Redemption proceeds follow within three business days.
10. What should I check in this Choice Large & Mid Cap Fund review?
Your goal horizon, the exit load, the plan type, any overlap with funds you hold, and that it is new.
