Large & Mid Cap is a new category defined in recent SEBI guideline. There was no formal or informal category by this name before. In this category fund house invest in both large cap and mid cap as per specific percentage described by SEBI.
Whereas Multi-Cap is an old category where fund manager has complete freedom to allocate funds in stocks across market capitalisations.
2. Meaning of Large & Mid Cap & Multicap Funds
3. Difference Between Large & Mid Cap & Multicap Funds