Learn About Mutual Fund

1. (Large Cap Fund - An open ended equity scheme
predominantly investing in Large Cap Stocks)
IDFC LARGE CAP FUND

2. Why Large Caps?

3. Large Caps Advantage
High Liquidity
Established Track
record
Extensively traded
making them more
liquid than Mid &
Small caps
Stable businesses
with an established
track record
Reputable
Management
Relatively
Stable
Good corporate
governance and
Trustworthy
management
Less sensitive to wide
market fluctuations
3
Financially Resilient
Generally strong
balance sheet which
helps to survive
economic downturns
Industry Leaders
Opportunity to
invest in sector
leaders

4. Large caps provide upside return potential
with relatively low volatility
Source: ICRA MFI Explorer
Data on 3 year rolling returns provided above is annualized and pertains to dates 01 Jan 2010 to 31 Jan 2021
IDFC Large Cap Fund – regular plan growth option has been considered
Past performance may not be sustained in the future
-4.7 -5.2
-11.1
-17.1
28.3 32.1
37.5 41.8
9.2 10.9 11.3 7.9
5.5 6.2 11.1 11.7
IDFC Large Cap Fund S&P BSE 100 TRI S&P BSE Mid cap TRI S&P BSE 250 Small cap TRI
3 year rolling returns (%)
Minimum Maximum Average Standard Deviation
% times positive returns generated by IDFC Large Cap Fund 97.4%
% times positive returns generated by S&P BSE 100 TRI 97.3%
% times positive returns generated by S&P BSE Mid Cap TRI 83.0%
% times positive returns generated by S&P BSE 250 Small Cap Index TRI 74.2%
4

5. Relatively lower drawdowns of Large Caps compared to
Mid & Small Caps; with the capability to recover faster
Source: ICRA MFI; data from Oct 2006 to Jan 2021
5
-80.0%
-70.0%
-60.0%
-50.0%
-40.0%
-30.0%
-20.0%
-10.0%
0.0%
Oct-06
Jul-07
Apr-08
Jan-09
Oct-09
Jul-10
Apr-11
Jan-12
Oct-12
Jul-13
Apr-14
Jan-15
Oct-15
Jul-16
Apr-17
Jan-18
Oct-18
Jul-19
Apr-20
Jan-21
Drawdown of Large Cap, Mid Cap & Small Cap indices
S&P BSE 100 TRI S&P BSE Mid Cap TRI S&P BSE 250 Small Cap Index TRI

6. Valuation have moved up; due to combination of
better-than-expected earnings and market upmove
27.0
20.5
23.1
18.0
14.0
16.0
18.0
20.0
22.0
24.0
26.0
28.0
30.0
31-Oct-14
31-Mar-15
31-Aug-15
31-Jan-16
30-Jun-16
30-Nov-16
30-Apr-17
30-Sep-17
28-Feb-18
31-Jul-18
31-Dec-18
31-May-19
31-Oct-19
31-Mar-20
31-Aug-20
31-Jan-21
S&P BSE 100 Positive PE
Positive PE Average +1 Standard deviation -1 Standard deviation
Source: Bloomberg; PE – Price to Earnings Ratio
Trailing 12 months Positive PE 6

7. 7
After a high 1-year return, the next 3-years can be reasonable
7.1%
9.8%
16.5%
22.5%
Greater than 25%
0 to 25%
-25% to 0%
Less than -25%
Today, we are
here
Next 3 year Return (CAGR)
1 year Return
Source: ICRA MFI, Data for S&P BSE 100 TRI Index considered from Jan’08 to Jan’21
Data as on Jan 2021 Past performance may or may not be sustained in future

8. Why IDFC Large Cap Fund?

9. About the Fund
*The allocation mentioned is as per current strategy and market conditions; this is however subject to change without notice. As per the fund’s mandate, it invests 80-100% in Large cap companies.
Given the available investment opportunities in the market, the fund manager may invest 0-20% in mid and small cap companies as well.
Large Cap oriented Investment Approach
Diversified equity
fund (80 to 100%
in Large Caps)
Blend of Top Down
and Bottom Up
Stable Alpha
Potential
Additional Alpha
Opportunities
Combining Low
Volatility and Alpha
Opportunities
Opportunistic
Mid/Small Cap
allocation up to 20%*
9

10. Three pillar strategy for Portfolio Construct
Buying the
right sectors
Buying
Sector leaders
Opportunistic
allocation to
Mid / Small caps
10
Note: Investment strategy shall be as per provisions of Scheme Information Document

11. 11
Historically, each year has different Winning Sectors
Buying the
right sectors
 Getting the sector allocation right can be a key driver of the overall portfolio returns
 Timely, Overweight & Underweight decisions can drive upside and limit downside
 Our focus and endeavor is to identify such sectors ahead in time
 The Fund may have a large deviation from the benchmark sector weights
Source: ICRA MFI
Calendar year returns in % provided for the price indices given above. CY 2021* return is as on 31 Jan 2021.
Past performance may not be sustained in the future
Index 2021* 2020 2019 2018 2017 2016 2015 2014 2013 2012
S&P BSE Auto 6 13 (11) (22) 32 8 (1) 52 6 40
S&P BSE Bankex (3) (2) 20 6 39 7 (10) 65 (11) 56
S&P BSE Consumer Durables (1) 21 20 (9) 102 (7) 24 65 (25) 46
S&P BSE Capital Goods 4 11 (10) (2) 40 (4) (9) 50 (7) 34
S&P BSE FMCG (3) 11 (3) 11 32 3 2 18 10 46
S&P BSE Health Care (5) 61 (4) (6) 0 (13) 15 47 22 38
S&P BSE IT 2 56 9 26 11 (8) 4 17 60 (1)
S&P BSE Metal (5) 11 (11) (20) 48 36 (32) 8 (12) 19
S&P BSE Oil & Gas (2) (4) 7 (15) 34 27 (4) 12 4 13
S&P BSE Power (3) 7 (4) (17) 20 1 (6) 23 (15) 11
S&P BSE Realty (2) 9 24 (31) 106 (8) (14) 5 (34) 53
S&P BSE Telecom 6 14 11 (41) 49 (22) (0) 6 17 (3)

12. 12
How Sectoral Allocation has helped the Fund (1/3)
Source: Bloomberg
Telecom – Staying away for long; helped well timed
entry after the pricing discipline kicked-in
Auto – Early underweight in the sector; helped
contained the downside
-8
-6
-4
-2
0
2
4
6
10,000
14,000
18,000
22,000
26,000
30,000
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Auto UW/OW S&P BSE Auto Index LHS
-4
-2
0
2
4
6
800
1,000
1,200
1,400
1,600
1,800
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Telecommunication Services UW/OW
S&P BSE Telecom Index LHS

13. 13
How Sectoral Allocation has helped the Fund (2/3)
Source: Bloomberg
Health Care - Higher allocation driven by an early
defensive stance
Technology - Early entry into Technology sector well
ahead of the INR depreciation led rally
-4
-2
0
2
4
6
8
10
-
5,000
10,000
15,000
20,000
25,000
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Health Care UW/OW S&P BSE Healthcare Index LHS
BSE100 Index LHS
-8
-6
-4
-2
0
2
4
6
8
8,000
13,000
18,000
23,000
28,000
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Information Technology UW/OW S&P BSE IT Index LHS
BSE100 Index LHS

14. 14
How Sectoral Allocation has helped the Fund (3/3)
Source: Bloomberg
Financials – Early overweight helped; thereafter
largely underweight during the NPA/Restructuring
crisis
FMCG – Increased allocation well ahead of the
strong sector performance
-20
-15
-10
-5
0
5
10
20,000
24,000
28,000
32,000
36,000
40,000
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Financials UW/OW S&P BSE Bankex Index LHS
-10
-8
-6
-4
-2
0
2
4
6
8
8,000
10,000
12,000
14,000
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Consumer Staples UW/OW S&P BSE FMCG Index LHS

15. 15
Investment in Sector Leaders
Buying
Sector
leaders
Strong Growth Potential
 Relatively higher visibility of growth
 Sustainability of earnings
Good Quality of business & management
 Superior Return on Capital Employed (ROCE) and low Leverage
 Low capital intensity and healthy operating cash flow
 Efficient capital allocation and strong Corporate Governance
Robust Fundamentals
 Strong execution track record.
 Demonstrated leadership in scale, size, operating margins and return on
capital employed.
 Stronger ability to withstand business cycle downturns.

16. 16
Exploring additional Alpha opportunities
Opportunistic
allocation to
mid / small
caps
3
13
16
21
12
8 8
7
10 12
13
9
15
9 11 10
0
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
30-Nov-16
31-Jan-17
31-Mar-17
31-May-17
31-Jul-17
30-Sep-17
30-Nov-17
31-Jan-18
31-Mar-18
31-May-18
31-Jul-18
30-Sep-18
30-Nov-18
31-Jan-19
31-Mar-19
31-May-19
31-Jul-19
30-Sep-19
30-Nov-19
31-Jan-20
31-Mar-20
31-May-20
31-Jul-20
30-Sep-20
30-Nov-20
31-Jan-21
Historical Mid & Small Cap allocation
IDFC Large Cap Fund - Mid & Small Cap allocation (%)
S&P BSE MidSmall Cap TRI Index Value
 To take advantage of any mispriced opportunities or a benevolent risk-on environment
Source: ICRA MFI
Period: 30 Nov 2016 to 31 Jan 2021

17. How is the Fund positioned currently?
 The fund is overweight in Telecommunication Services, Information Technology and Consumer Staples sectors.
 Financials, Commodities and Utilities are the three sectors with the highest underweight position in the fund.
 Currently, the fund does not have any allocation towards Mid & Small Cap stocks.
Data as on 31 Jan 2021
Source : Bloomberg
17

18. 18
Summary
 Benefit of predominantly investing in Industry leading companies amongst the top 100 in the country*
 Blend of top down and bottom up investment philosophy in portfolio construction
 The portfolio approach is based on a robust three pillar strategy:
Buying the right sectors – Identifying and investing in the right sectors with a flexibility to have large
deviation from the benchmark sector weights.
Buying the sector leaders - Investing in the sector leader companies having strong fundamentals, solid
execution track record as well as resilient balance sheet to withstand any cyclical downturns.
Tactical allocation to mid/small caps – Opportunistic allocation to take advantage of any mispriced
opportunities or a benevolent risk-on environment.
 “Growth” and “Quality” oriented investment style
*Top 100 as per SEBI Circular on Categorization and Rationalization of Mutual funds, dated October 6, 2017 and December 4, 2017. The market capitalization is subject to change on half yearly basis.
As per the fund’s mandate, it invests 80-100% in Large cap companies.

19. Fund Details
Large Cap Fund – An open ended
equity scheme predominantly
investing in Large Cap Stocks
Fresh Purchase - Rs.5,000/-
& any amount thereafter
S&P BSE 100 TRI Nil
Nature
Minimum Application
Amount
Benchmark Exit Load
Mr. Sumit Agrawal
Mr. Arpit Kapoor
Fund Manager*
19
Rs. 648.62 Crores
Month End AUM
*Overseas investment will be managed by Mr. Viraj Kulkarni
Data as on 31 Jan 2021

20. Performance
Performance Table
Scheme Name
CAGR Return (%) Current Value of Investment of Rs.10,000
1 Year 3 Years 5 Years
Since Inception
June 09, 2006
1 Year 3 Years 5 Years
Since Inception
June 09, 2006
IDFC Large Cap Fund 14.83% 6.34% 12.66% 9.79% 11,479 12,022 18,161 39,280
S&P BSE 100 TRI# 15.84% 7.93% 13.42% 12.42% 11,580 12,570 18,780 55,575
Nifty 50 TRI## 15.27% 8.70% 13.94% 12.59% 11,522 12,841 19,214 56,859
Performance based on NAV as on 31/01/2021. Past performance may or may not be sustained in future. The performances given are of regular plan growth option.
Regular and Direct Plans have different expense structure. Direct Plan shall have a lower expense ratio since it excludes distribution expenses, commission expenses etc.
#Benchmark Returns. ##Alternate Benchmark Returns.
The fund has been repositioned from an IPO fund to a large cap fund w.e.f. April 18, 2017. Current Index performance adjusted for the period from since inception to June 28, 2007 with the
performance of S&P BSE 100 price return index (Benchmark). The Fund Manager of the fund is Mr. Sumit Agrawal & Mr. Arpit Kapoor (w.e.f. 1st March 2017). Mr. Viraj Kulkarni is the dedicated
fund manager for overseas investments of the scheme.
20

21. Performance based on NAV as on 31/01/2021. Past performance may or may not be sustained in future. The performances given are of regular plan growth option. Regular and Direct Plans have different
expense structure. Direct Plan shall have a lower expense ratio since it excludes distribution expenses, commission expenses etc. #Benchmark Returns. ##Alternate Benchmark Returns.
2The fund has been repositioned from an IPO fund to a large cap fund w.e.f. April 18, 2017. §Current Index performance adjusted for the period from since inception to June 28, 2007 with the performance
of S&P BSE 100 price return index (Benchmark).
Other Funds Managed by the Fund Manager
21

22. Other Funds Managed by the Fund Manager
Performance based on NAV as on 31/01/2021. Past performance may or may not be sustained in future. The performances given are of regular plan growth option. Regular and Direct Plans have
different expense structure. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission expenses etc. #Benchmark Returns. ##Alternate Benchmark Returns
2The fund has been repositioned from an IPO fund to a large cap fund w.e.f. April 18, 2017. §Current Index performance adjusted for the period from since inception to June 28, 2007 with the
performance of S&P BSE 100 price return index (Benchmark). 5The fund has been repositioned w.e.f. May 28, 2018 and since will invest only in the schemes of IDFC Mutual Funds. ^Current Index
performance adjusted for the period from since inception to May 28, 2018 with the performance of CRISIL Hybrid 85+15 Conservative Index (Benchmark) and CRISIL Hybrid 35+65 - Aggressive Index
22

23. Disclaimer:
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.
The Disclosures of opinions/in house views/strategy incorporated herein is provided solely to enhance the transparency about the investment strategy / theme of
the Scheme and should not be treated as endorsement of the views / opinions or as an investment advice. This document should not be construed as a research
report or a recommendation to buy or sell any security. This document has been prepared on the basis of information, which is already available in publicly
accessible media or developed through analysis of IDFC Mutual Fund. The information/ views / opinions provided is for informative purpose only and may have
ceased to be current by the time it may reach the recipient, which should be taken into account before interpreting this document. The recipient should note and
understand that the information provided above may not contain all the material aspects relevant for making an investment decision and the stocks may or may not
continue to form part of the scheme’s portfolio in future. The decision of the Investment Manager may not always be profitable; as such decisions are based on the
prevailing market conditions and the understanding of the Investment Manager. Actual market movements may vary from the anticipated trends. This information is
subject to change without any prior notice. The Company reserves the right to make modifications and alterations to this statement as may be required from time to
time. Neither IDFC Mutual Fund / IDFC AMC Trustee Co. Ltd./ IDFC Asset Management Co. Ltd nor IDFC, its Directors or representatives shall be liable for any
damages whether direct or indirect, incidental, punitive special or consequential including lost revenue or lost profits that may arise from or in connection with the
use of the information.
23
IDFC Large Cap Fund
(Large Cap Fund- An open ended equity scheme predominantly investing in large cap stocks)