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New fund offerChoice Mutual Fund

Choice Large & Mid Cap Fund

An open ended equity scheme investing in both large cap and mid cap stocks

A skyline in three zones: today’s leaders (ranks 1–100) as tall towers, the challengers (ranks 101–250) rising under a construction crane, and smaller companies beyond rank 250.
≥35%
largeRanks 1–100At least 35% in large caps
≥35%
midRanks 101–250At least 35% in mid caps
≤30%
beyond 250Rank 251 onwardsUp to 30% beyond the top 250

Indicative allocation (% of total assets) under normal circumstances, as per the SID. Large cap: 1st–100th, mid cap: 101st–250th, small cap: 251st company onwards by full market capitalisation (SEBI Master Circular, para 3.9.1).

Read the facts

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Choice Large & Mid Cap · NFODrawing set A–C
NFO open · closes 3 Nov 2026
NFO opens20 Oct 2026
NFO closes3 Nov 2026
NFO price₹10 per unit
Minimum₹1,000 or SIP from ₹250
BenchmarkNIFTY LargeMidcap 250 TRI
RiskometerThe risk of the scheme is Very HighThe risk of the benchmark is Very High

The above product labelling assigned during the New Fund Offer (NFO) is based on internal assessment of the scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made

Fund managerRochan Pattnayak
Choice Mutual FundAs of 22 Oct 2026

The drawing set

How this fund works, in four drawings

  1. the zoneRanks 1–100large capsRanks 101–250mid capsBeyond 250small caps

    Drawing 1

    The zone

    Every listed company is ranked by full market value. Ranks 1–100 are the large caps, today’s leaders; ranks 101–250 are the mid caps, the challengers. This fund’s zone is both.

  2. ≥35%≥35%≤30%largemidbeyond 250

    Drawing 2

    The mandate

    At least 35% in large caps and at least 35% in mid caps, at all times. Large caps can rise to 65% and mid caps to 65%; up to 30% can go beyond the top 250.

  3. GGrowthVValueOOperatingearningsTTrajectoryEExcellence

    Drawing 3

    The GVOTE test

    Every company is tested for Growth, Value, Operating earnings, Trajectory and Excellence, against its sector peers, before it can be bought.

    GVOTE is Choice AMC’s internal framework, applied within the SID’s investment strategy.

  4. Top 500~30–50

    Drawing 4

    From the top 500 to ~30–50

    Top 500 → Investable → Scored → Shortlist → Approved → ~30–50. Companies held, kept reasonably diversified at all times (indicative).

    Illustrative. The number of companies at each stage varies with market conditions; the number of holdings is indicative and not a commitment. GVOTE and the research process are internal and may change; the portfolio will be managed in line with the investment objective, strategy and asset allocation in the SID.

The explainer, as a comic

Download the explainer (PDF)
  • Choice MF’s first active equity fund is open: India’s leaders and challengers, in one fund. Choice Large & Mid Cap Fund, NFO 20 Oct – 3 Nov 2026, at ₹10 a unit. Finished towers stand beside towers rising in scaffolding, behind a site hoarding that reads Large & Mid Cap.
    1 / 7
  • The rule: at least 35% in leaders, at least 35% in challengers. Leaders are India’s top 100 companies, challengers are ranks 101–250, and up to 30% can go beyond. A site engineer points to a zoning board with plots marked Top 100 · 35%+ and 101–250 · 35%+.
    2 / 7
  • Each company has to pass five tests, G-V-O-T-E: Growth, Value, Operating earnings, Trajectory, Excellence. About 30–50 stocks, indicative. Five inspectors at desks marked G, V, O, T and E check a block arriving on a trolley.
    3 / 7
  • The mechanics, for the curious: ₹1,000 lumpsum or SIP from ₹250, exit load 1% within 365 days, risk Very High. Papa checks the NFO on his phone while Poo points to 3 Nov circled on the calendar.
    4 / 7
  • Papa asks, large cap or mid cap? Poo answers that this one has to hold both: at least 35% in each, by SEBI’s rule for this category. NFO closes 3 Nov. Not advice. Poo shows Papa the Scheme Information Document on the sofa.
    5 / 7
  • Product label: Choice Large & Mid Cap Fund, an open ended equity scheme investing in both large cap and mid cap stocks, is suitable for investors seeking long term capital appreciation and investment predominantly in large cap and mid cap stocks. Scheme riskometer: the risk of the scheme is Very High. Benchmark riskometer, NIFTY Large Midcap 250 TRI: the risk of the benchmark is Very High. The above product labelling assigned during the New Fund Offer (NFO) is based on internal assessment of the scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made.
    6 / 7
  • Sign-off: Felix Wealth, data and tools for mutual fund distributors, at @felixwealth.in and felixwealth.in, with a QR code to this page. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
    7 / 7

Swipe for the next panel

Sheet A

The engineering

How does the fund house pick companies?

How the fund house tests every company, how a wide field narrows to a portfolio, and the mandate it is built on.

A-01

GVOTE: five tests every company must pass

  1. Growth

    Room to keep growing

    Sales, profit and cash-flow growth, judged against true peers

  2. Value

    A sensible price

    Earnings, cash-flow and book yields vs peers

  3. Operating earnings

    Profits growing faster than sales

    Margins, and profits outgrowing sales

  4. Trajectory

    Returns that are rising

    Rising returns, earnings upgrades, price trend

  5. Excellence

    A balance sheet that funds growth

    Returns on equity, balance sheet, governance

GVOTE is Choice AMC’s internal framework, applied within the SID’s investment strategy; measures and weights may change.

A-02

From the top 500 to one portfolio

  1. Top 500

    India’s 500 largest listed companies (AMFI list): the large & mid cap zone, and the next 250.

  2. Investable

    Liquidity, free float, governance and accounting red flags remove what cannot be owned with confidence.

  3. Scored

    Growth, Value, Operating earnings, Trajectory, Excellence — against sector peers; banks and lenders on their own measures.

  4. Shortlist

    Five-step due diligence: idea → quality → valuation → risk → fit in the portfolio.

  5. Approved

    Thesis, position size and sell trigger agreed before buying; Risk has its own vote.

  6. ~30–50

    Companies held, kept reasonably diversified at all times (indicative).

Illustrative. The number of companies at each stage varies with market conditions; the number of holdings is indicative and not a commitment. GVOTE and the research process are internal and may change; the portfolio will be managed in line with the investment objective, strategy and asset allocation in the SID.

A-03

Built on the Scheme’s mandate

Quoted from the investment strategy in the Scheme Information Document: companies that

  1. (a)are likely to achieve above average growth
  2. (b)enjoy distinct competitive advantages
  3. (c)have superior financial strength
  4. (d)are trading at relatively attractive valuations
  5. (e)have value unlocking potential

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Sheet B

The handover

How does an investment start, and who manages it?

SIP and lumpsum minimums, STP and SWP, and the fund manager, as per the Scheme Information Document.

B-01

Minimums: SIP from ₹250, lumpsum from ₹1,000

SIP frequencyMinimum amountMinimum instal­mentsDates
Daily₹25030All business days
Weekly₹25012Any day, Monday to Friday
Fortnightly₹500121st and 16th of the month
Monthly₹50012Any date
Quarterly₹1,0004Any date (1st–28th)
Semi-annual / annual₹5,0004Any date (1st–28th)
Chhoti SIP (monthly)
For first-time mutual fund investors		₹25060Any date (1st–28th)

Lumpsum

₹1,000 during the NFO and after it re-opens. Additional purchases from ₹1,000.

STP

Daily, weekly, fortnightly, monthly or quarterly. From ₹1,000 (₹500 daily); minimum 6 instalments (4 quarterly).

SWP

Weekly, monthly, quarterly, semi-annual or annual. From ₹500; minimum 6 instalments (4 quarterly or longer).

B-02

The fund manager

Rochan Pattnayak

Fund Manager · Chief Investment Officer, Choice AMC

Education
MBA, Indian School of Business, Hyderabad
Experience
Over 15 years of work experience in the financial services industry
Also manages
  • Choice Gold ETF
  • Choice Nifty 50 Index Fund
  • Choice Nifty Next 50 Index Fund
  • Choice Overnight Fund

Career

  1. 2020–2024Head of Institutional Research, Choice Equity Broking
  2. 2019–2020Fund Manager, Quant Capital Finance & Investments
  3. 2017–2019Senior Investment Analyst, Edelweiss Asset Management
  4. 2011–2016Research Analyst, Indus Equity Advisors
  5. 2008–2010Trading Analyst, Wolverine Equities & Markets, UK

Fund manager details as per the SID; managing since: not applicable (new scheme). The fund house’s first actively managed equity scheme.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Sheet C

Specifications

What are the facts?

Scheme features, riskometers and disclosures, as per the Scheme Information Document.

Choice Large & Mid Cap FundC-01 · Scheme specifications
Type
An open ended equity scheme investing in both large cap and mid cap stocks
Investment objective
To generate long-term capital appreciation through a portfolio predominantly invested in equity and equity related instruments of large cap and mid cap companies. There is no assurance or guarantee that the investment objective of the Scheme will be achieved.
Category
Large & Mid Cap Fund
Fund manager
Rochan Pattnayak
Benchmark
NIFTY LargeMidcap 250 TRI
Additional benchmark
NIFTY 50 TRI
Riskometer, scheme
Very High
Riskometer, benchmark
Very High
NFO period
Opens 20 Oct 2026 · Closes 3 Nov 2026
NFO price
₹10 per unit
Minimum target
₹10 crore during the NFO
Minimum application
₹1,000
Additional purchase
₹1,000
Minimum redemption
₹1,000 or 1 unit or the folio balance, whichever is lower
Entry load
Nil
Exit load
1% if redeemed or switched out within 365 days of allotment; nil after 365 days. No load on switches between plans/options.
Liquidity
Re-opens within 5 business days of allotment
After the NFO
The scheme re-opens for ongoing purchases and redemptions within 5 business days of allotment.
Listing
Not listed on a stock exchange
Stamp duty
0.005% on applicable purchases and switch-ins
Cut-off time
3:00 p.m. for credit of funds to the Scheme (purchases)
STP
Daily, weekly, fortnightly, monthly or quarterly. From ₹1,000 (₹500 daily); minimum 6 instalments (4 quarterly).
SWP
Weekly, monthly, quarterly, semi-annual or annual. From ₹500; minimum 6 instalments (4 quarterly or longer).
Where to apply
AMC and CAMS centres, AMC and RTA websites, NSE MFSS, BSE StAR MF and MF Central; ASBA during the NFO.
Regular plan · Growth
ISIN
INF2KCX01111
AMFI code
154840
C-02

Asset allocation

% of total assets, under normal circumstances

InstrumentMinimumMaximumRange, 0–100%
Equity and equity related instruments70%100%
Large cap companies (ranks 1–100)35%65%
Mid cap companies (ranks 101–250)35%65%
Other than large and mid cap companies0%30%
Debt, money market instruments, gold and silver instruments0%30%
Units issued by InvITs0%10%

Indicative allocation (% of total assets) under normal circumstances, as per the SID. Large cap: 1st–100th, mid cap: 101st–250th, small cap: 251st company onwards by full market capitalisation (SEBI Master Circular, para 3.9.1).

C-03

Product label and riskometers

This product is suitable for investors who are seeking*

  • Long term capital appreciation
  • Investment predominantly in large cap and mid cap stocks

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Scheme riskometer

Choice Large & Mid Cap Fund

LowLow toModerateModerateModeratelyHighHighVery HighRiskometer

The risk of the scheme is Very High

Benchmark riskometer

NIFTY LargeMidcap 250 TRI

LowLow toModerateModerateModeratelyHighHighVery HighRiskometer

The risk of the benchmark is Very High

The above product labelling assigned during the New Fund Offer (NFO) is based on internal assessment of the scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Where to invest

Through a distributor, or on the fund house’s own page. Each link opens in a new tab.

Also, as per the SID: AMC and CAMS centres, AMC and RTA websites, NSE MFSS, BSE StAR MF and MF Central; ASBA during the NFO.

Scheme documents

Read the SID, KIM and SAI before investing. Each opens as a PDF from the fund house.

Questions, answered by the fund house

01What is Choice Large & Mid Cap Fund?

Choice Large & Mid Cap Fund is an open-ended equity scheme investing in both large-cap and mid-cap stocks.

02How are large-cap mid-cap & small cap companies defined?

Large-cap companies are ranked 1st to 100th and mid-cap companies 101st to 250th by full market capitalisation,under the applicable SEBI/AMFI classification framework.

03Are returns guaranteed?

No. Returns are market-linked and are not guaranteed. The Scheme’s NAV may rise or fall depending on market conditions and the performance of its investments.

04Which plans and options are available?

The Scheme offers Regular and Direct Plans, each with a Growth Option. The Scheme does not offer an Income Distribution cum Capital Withdrawal (IDCW) option. Both Plans have a common portfolio.

05What is the NFO price?

The New Fund Offer (NFO) price is INR 10 per unit. This is the initial offer price and does not guarantee the future value or returns of the investment.

06When can investors purchase or redeem units after the NFO?

The Scheme is expected to reopen for ongoing purchases and redemptions within 5 business days from allotment,once ongoing transactions commence, purchases, switch-ins, redemptions and switch-outs are available on Business Days, subject to applicable terms and cut-off timings.

07Is the Scheme listed on a stock exchange?

The Scheme is not proposed to be listed on a stock exchange.

08What is the minimum lump-sum investment?

The minimum lump-sum investment is INR 1,000, with additional investments in multiples of INR 1 thereafter.

09What is the minimum additional purchase amount?

The minimum additional purchase amount is INR 1,000, with additional investments in multiples of INR 1 thereafter.

10What are the minimum SIP amounts?

The available SIP frequencies, minimum amounts and minimum instalments are: SIP Frequency – Minimum SIP Amount – Minimum Instalments – Available SIP Dates Daily – Rs. 250 – 30 instalments – All Business Days Weekly – Rs. 250 – 12 instalments – Monday to Friday Fortnightly – Rs. 500 – 12 instalments – 1st and 16th of the month Monthly – Rs. 500 – 12 instalments – Any date of the month Quarterly – Rs. 1000 – 4 instalments – Any date from the 1st to the 28th Semi-annually – Rs. 5000 – 4 instalments – Any date from the 1st to the 28th Annually – Rs. 5000 – 4 instalments – Any date from the 1st to the 28th Chhoti SIP (Monthly) – Rs. 250 per instalment – 60 instalments – Monthly For daily SIPs, dates are all Business Days; weekly SIPs can be scheduled Monday to Friday; fortnightly SIPs are on the 1st and 16th; monthly SIPs may be on any date; quarterly, semi-annual and annual SIPs may be on any date from the 1st to the 28th. Amounts are in multiples of ₹1 thereafter where applicable.

11Are STP and SWP facilities available?

Yes. Systematic Transfer Plan (STP) and Systematic Withdrawal Plan (SWP) facilities are available on an ongoing basis, subject to the applicable terms, minimum amounts, frequencies and instalment requirements.

12Can investors switch their investments into the Scheme?

Yes, subject to the applicable transaction rules. The minimum switch-in amount is as per the Scheme’s minimum application amount.

13Where can investors check the NAV?

NAVs are disclosed on every Business Day and are available on our website and on the AMFI website.

14How is the applicable NAV determined for a purchase?

The applicable NAV depends on the receipt of a valid application and the availability of funds for utilisation by the Scheme, in accordance with the applicable cut-off rules. For purchase transactions, the SID specifies a 3:00 p.m. cut-off for credit of funds to the Scheme. The applicable NAV cannot be guaranteed in advance.

15Is an entry load applicable?

No. Entry load is not applicable.

16What is the exit load?

A 1% exit load applies where units are redeemed or switched out before 365 days from the date of allotment. No exit load is payable where units are redeemed or switched out after 365 days. No load is levied on switches between the Scheme’s plans, options and sub-options. For systematic transactions such as SIPs and STPs, the exit load prevailing on the date of registration/enrolment applies. Investors should check the latest applicable load structure before transacting.

17Is stamp duty applicable?

Stamp duty of 0.005% is levied on applicable mutual fund transactions. The number of units allotted on applicable purchase and switch-in transactions, including systematic instalments, is reduced to account for stamp duty.

18When will allotment confirmation be sent?

Allotment confirmation specifying the units allotted is sent by email and/or SMS within five working days of receipt of a valid application or transaction, to the investor’s registered email address and/or mobile number.

19Where can investors find taxation details?

Tax treatment depends on applicable tax laws and the investor’s circumstances. Please refer to the latest Statement of Additional Information (SAI) and consult a qualified tax adviser for guidance specific to your situation.

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https://felixwealth.in/nfo/choice-large-mid-cap-fund

Choice Large & Mid Cap Fund · Large & Mid Cap Fund

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Disclaimers and statutory details

  1. This page gives general information about a scheme of Choice Mutual Fund; it is not an offer or recommendation. The AMC/Sponsor(s)/Trustee do not guarantee that the investment objective will be achieved, and the Scheme does not offer any guaranteed or assured returns. Read the SID, KIM and SAI before investing.
  2. The scheme will invest at least 35% each in large and mid cap companies; investment in small caps is subject to the asset allocation and may range from nil to 30%. Small caps may be more volatile and less liquid. References to growth describe the approach and do not indicate or guarantee returns.
  3. The investment process, frameworks and parameters are internal and may change; the portfolio will be managed in line with the SID.

Choice Mutual Fund. Sponsor: Choice International Limited. Trustee: Choice Trustees Services Private Limited (CIN U66190MH2025PTC440639). Investment Manager: Choice AMC Private Limited (CIN U66190MH2007PTC177075). SEBI Regn. No. MF/087/25/13. RTA: Computer Age Management Services Limited. Sunil Patodia Tower, Plot No 156-158, J.B. Nagar, Andheri (East), Mumbai 400099.

1800 266 3866 (toll-free)support@choicemf.comchoicemf.com1st Floor, Sunil Patodia Tower, J.B. Nagar, Andheri (East), Mumbai 400099

About this page: Felix is a technology platform for mutual fund distributors and investors; it is not the fund house. Every scheme detail and figure on this page is taken from Choice Mutual Fund’s Scheme Information Document, Key Information Memorandum, website and product presentation (October 2026).