India's Top 6 Mutual Funds By Assets Under Management

India's mutual fund industry has been on a steady climb, with systematic investment plan inflows breaking records and more retail investors entering the market than ever before. A small group of funds sits at the very top of the assets under management rankings. Here is what each of them does, how they have performed:

1. Parag Parikh Flexi Cap Fund Direct Growth

Key details of the Parag Parikh Flexi Cap Fund (Direct Growth) are as follows:

• Assets under management: ₹1,28,966 crore

• Net asset value: ₹91.40

• 1-month return: 5.36%

• 3-month return: -2.57%

• 1-year return: 3.52%

• 3-year return: 63.32%

The biggest actively managed fund in the country by assets under management. Parag Parikh Flexi Cap Fund has built its reputation on a concentrated, high-conviction approach that includes a slice of international stocks, mostly US-listed technology companies.

2. HDFC Balanced Advantage Fund Direct Growth

Key details of the HDFC Balanced Advantage Fund (Direct Growth) are as follows:

• Assets under management: ₹98,457.80 crore

• Net asset value: ₹562.18

• 1-month return: 5.61%

• 3-month return: -1.74%

• 1-year return: 4.63%

• 3-year return: 58.05%

This fund shifts its equity and debt allocation based on how expensive or cheap the market looks at any given time. The one-year return of 4.63% reflects a period where the fund was sitting cautiously given elevated valuations and global uncertainty.

3. HDFC Flexi Cap Fund Direct Growth

Key details of the HDFC Flexi Cap Fund (Direct Growth) are as follows:

• Assets under management: ₹91,334.90 crore

• Net asset value: ₹2,152.11

• 1-month return: 5.59%

• 3-month return: -4.27%

• 1-year return: 4.22%

• 3-year return: 73.55%

The fund moves freely across large-cap, mid-cap and small-cap based on where the manager sees the best opportunity, which is both its edge and its vulnerability.

4. HDFC Mid Cap Fund Direct Growth

Key details of the HDFC Mid Cap Fund (Direct Growth) are as follows:

• Assets under management: ₹85,357.90 crore

• Net asset value: ₹222.31

• 1-month return: 8.8%

• 3-month return: -0.61%

• 1-year return: 14.39%

• 3-year return: 93.94%

The standout performer in this comparison. A 93.94% three-year return and 14% over one year, combined with the strongest one-month return of around 8% makes the HDFC Mid Cap Fund one of the most rewarding funds in this group on a returns basis.

5. HDFC Liquid Fund Direct Growth

Key details of the HDFC Liquid Fund (Direct Growth) are as follows:

• Assets under management: ₹72,872.56 crore

• Net asset value: ₹5,447.95

• 1-month return: 0.50%

• 3-month return: 1.65%

• 1-year return: 6.27%

• 3-year return: 22.41%

A completely different product from the other four. HDFC Liquid Fund usually parks money in short-term money market instruments and is built for capital safety and easy access rather than growth.

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6. ICICI Prudential Large Cap Fund Direct Growth

Key details of the ICICI Prudential Large Cap Fund (Direct Growth) are as follows:

• Assets under management: ₹69,947.55 crore

• Net asset value:

• 1-month return: 5.80%

• 3-month return: -4.83%

• 1-year return: 2.18%

• 3-year return: 57.61%

The three-year return of 57.61% is the number that jumps out and demands attention. The fund mainly invests in large-cap companies. These stocks usually see better liquidity and less volatility compared to mid- and small-cap stocks.

Note: All net asset values referenced in this article are as of 10:45 AM on 7 May 2026.

Sources:

Moneycontrol

The Economic Times