Parag Parikh Flexi Cap Fund, HDFC Flexi Cap Fund and SBI Equity Hybrid Fund dominate AUM rankings

Assets under management (AUM) offer a useful lens into investor participation and fund scale within the mutual fund landscape. As of 31 March 2026, nine equity-oriented schemes reported AUM above ₹60,000 crore. 

This group reflects a mix of flexi cap, hybrid, large cap, arbitrage, and small cap strategies, indicating varied investor preferences across market segments.

Top Mutual Funds by AUM as of March 2026

Note: The Data above is as per The Economic Times report.

1. Parag Parikh Flexi Cap Fund Leads the Pack

Parag Parikh Flexi Cap Fund remained the largest active and flexi cap scheme by AUM, reporting ₹1.28 lakh crore as of March 2026. This marked a slight moderation from ₹1.34 lakh crore recorded in the previous month, though it continued to hold a clear lead over peers.

2. HDFC Mutual Fund Schemes Feature Prominently

Three schemes from HDFC Mutual Fund were among the largest by assets. HDFC Balanced Advantage Fund reported ₹98,457 crore, followed by HDFC Flexi Cap Fund at ₹91,334 crore and HDFC Mid Cap Fund at ₹85,357 crore. These figures highlight continued investor allocation across both hybrid and equity-oriented categories.

3. SBI Equity Hybrid Fund Maintains Scale

SBI Equity Hybrid Fund reported an AUM of ₹76,291 crore as of March-end, compared with ₹82,317 crore in February. The scheme remains one of the larger hybrid funds, combining equity exposure with debt allocation.

4. ICICI Prudential Funds in the Large AUM Bracket

ICICI Prudential Large Cap Fund recorded ₹69,947 crore in AUM, while ICICI Prudential Balanced Advantage Fund stood at ₹66,397 crore. Both funds saw a decline from their February figures, reflecting broader shifts in flows or market valuation changes.

5. Arbitrage and Small Cap Segments Represented

Kotak Arbitrage Fund reported ₹67,116 crore in AUM, down from ₹71,264 crore in February. Meanwhile, Nippon India Small Cap Fund, the largest in its category, held ₹61,808 crore as of March, compared with ₹67,641 crore in the previous month.

Read More: Debt Mutual Funds See ₹2.94 Lakh Crore Outflows in March 2026 Amid Year-End Redemptions.

Conclusion

The presence of multiple schemes above ₹60,000 crore AUM indicates sustained investor participation across diverse fund categories. While some funds saw marginal declines month-on-month, the overall distribution reflects continued interest in both equity growth and hybrid strategies within the mutual fund ecosystem.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.