India’s Top Mutual Funds by AUM: Performance & Returns

If you’re looking at mutual funds, it’s helpful to know which ones manage the most money. As of July 31, 2026, the Indian mutual fund industry oversees a massive Rs 86.34 lakh crore, with the largest schemes holding significant portions.

Key Fund Figures You Should Know

India’s largest actively managed equity fund by AUM is Parag Parikh Flexi Cap Fund. This fund manages Rs 1.48 lakh crore.

It posted a 1-year loss of 1.28%. Despite this, it shows strong 3-year returns of 14.68%.

Over five years, Parag Parikh Flexi Cap Fund achieved a return of 13.23%.

While Parag Parikh leads in size, other funds offer impressive returns, especially over longer periods. It shows that bigger isn’t always better for short-term gains, but consistency matters.

Understanding Different Fund Types and Their Performance

The HDFC Flexi Cap Fund, with an AUM of Rs 1.10 lakh crore, saw a 1-year return of 6.13%. It achieved the highest 5-year return among listed flexi-cap funds at 18.81%.

HDFC Balanced Advantage Fund is India’s largest hybrid fund. Managing Rs 1.07 lakh crore, it delivered 3.48% over 1 year and 15.78% over 5 years by balancing equity and debt.

The HDFC Mid Cap Fund, with an AUM of Rs 1.05 lakh crore, was a top performer across all timeframes. It yielded 12.48% over 1 year, 20.32% over 3 years, and 20.91% over 5 years.

It’s interesting to see how different strategies play out. Some funds focus on growth, while others prioritize safety or a mix, which can be useful depending on your goals.

Exploring Other Major Funds in India

SBI Equity Hybrid Fund manages Rs 88,036 crore and offered an 11.30% return over 5 years.

ICICI Prudential Multi Asset Fund diversifies across asset classes with Rs 86,785 crore AUM, achieving a 5-year return of 17.49%.

SBI Liquid Fund aims for capital safety over growth, holding Rs 84,055 crore in AUM. It yielded 6.27% over 5 years.

ICICI Prudential Large Cap Fund, with Rs 80,960 crore AUM, returned 0.57% in 1 year, 13.15% in 3 years, and 12.91% in 5 years.

The Nippon India Small Cap Fund, the largest in its category at Rs 78,957 crore AUM, boasts a strong 5-year return of 20.51%.

ICICI Prudential Balanced Advantage Fund manages Rs 74,555 crore, with a 5-year return of 11.79%.

Remember, a fund’s Assets Under Management (AUM) primarily shows its total market value, not necessarily how well it will perform for you. While SBI Mutual Fund is the largest fund house overall, the performance of individual schemes can vary greatly, so always look beyond just the size.