An open-ended equity scheme which invests at least 35% of its assets in large cap and at least another 35% of its assets in mid cap stocks. Since a large and mid cap fund invests in both large and mid cap stocks, it can provide an optimal blend of higher returns and lower volatility. While mid cap stocks can potentially provide higher returns that pure large cap mutual funds, the presence of large cap stocks in the portfolio makes the fund less volatile than pure mid cap mutual funds. Investors with the perspective of high return at moderate risk can look out for a large and mid cap equity fund.