Franklin Templeton in 2026: a record ₹1.33 lakh crore, 18th

Higher than ever, and further down the table

Franklin Templeton Mutual Fund managed an average of ₹1,32,776 crore in July–September 2026, excluding domestic fund-of-funds. That is the highest quarter in AMFI's data as we hold it, back to April–June 2010, and 1.52% of the industry's ₹87,21,848 crore. Its fund house page carries the same figure.

Yet it ranks 18th. The path there is the interesting part:

Assets fell by 31% in a single quarter, April–June 2020, the one that followed the wind-up of six of its debt schemes, and kept falling to a low in April–June 2021. They then doubled in rupees, but the industry did more than that. Franklin grew 8.6% in the last year against 13.1% for the whole industry, and it now sits behind houses it outranked in 2021, such as HSBC, Invesco and Motilal Oswal.

42 schemes, mostly equity and debt

Counting each open-ended scheme once by its Direct Growth plan, Franklin has 42: 15 equity, 13 debt, 9 hybrid, 3 fund-of-funds, an index fund and a solution-oriented scheme. The largest by average assets in July–September 2026:

Franklin's US Opportunities fund-of-funds holds ₹6,003 crore and its Liquid fund ₹5,992 crore. The house is, in other words, an equity house: the four biggest schemes are all active equity funds, and the Flexi Cap fund alone is more than the Liquid and Money Market funds put together.

How the equity funds rank

Direct Growth returns to 16 October 2026, annualised for three and five years. Rank is among Direct Growth funds in the same category with that much history.

The two thematic funds are the bright spot; the rest of the table is in the lower half over three years. The Flexi Cap fund, the largest, is mid-table over five years but 40th of 42 over one. Our fund house scorecard measured the same thing across all houses.

Costs

On AMFI's expense filings, three of Franklin's big funds charge noticeably more than their category's middle fund:

The Large & Mid Cap fund, 24th of 26 over three years, is also 0.55 points dearer than its category's median. The Opportunities fund, the best performer, is cheaper than its category's median. A 0.5-point annual gap is the sort of difference our Direct versus Regular cost post puts into rupees over a long holding.

What the numbers do not tell you

Rupees up is not rank up. Doubling assets from the 2021 low is a recovery, but the table above shows a house that grew more slowly than its peers.

Category ranks are a snapshot. A fund 27th of 36 over three years can be 12th of 27 over five; the periods end on the same day but start in very different markets. Our guide to reading a category rank shows how.

Thematic funds are not like for like. The 142 sector and thematic funds include everything from banking to defence, so a rank among them says less than one in a plain category.

None of this is a recommendation to buy or sell any fund.