Largest mutual fund schemes by AUM, January–March 2026

The biggest single scheme

The largest mutual fund scheme in India is not an actively managed fund. SBI Nifty 50 ETF, an exchange-traded fund that holds the Nifty 50 stocks, averaged ₹2,10,783 crore of assets in January–March 2026. That is 2.6% of everything the industry manages, in one scheme.

The figures are AMFI's scheme-wise average AUM (AAUM) for the quarter, the latest one published. Each covers a whole scheme, all plans and options together. Domestic fund-of-funds are left out, as in AMFI's industry total, because their money is already counted in the funds they buy.

The top fifteen

Links go to each scheme's Direct Growth plan where it has one; the AAUM is the whole scheme.

Only four schemes averaged more than ₹1 lakh crore: the two SBI index ETFs, Parag Parikh Flexi Cap and HDFC Balanced Advantage. Parag Parikh Flexi Cap is the largest actively managed fund of any kind, 37% larger than the next, HDFC Flexi Cap.

Every kind of fund is near the top

The fifteen span almost every corner of the industry: three ETFs, five equity funds, five hybrid funds and two liquid funds. Widening to the top 25, ten are equity funds, six ETFs, five hybrids and four liquid funds.

The largest scheme in each broad group:

The gap between an ETF and an index fund tracking the same index is striking. UTI's Nifty 50 index fund averaged ₹26,334 crore and its Nifty 50 ETF ₹68,363 crore, while SBI's Nifty 50 ETF was eight times the size of UTI's index fund. A gold ETF is in the top 25 too: Nippon India ETF Gold BeES averaged ₹53,346 crore.

Half the money, a hundred schemes

The ten largest schemes held ₹10,68,794 crore, 13.11% of the industry's ₹81,53,966 crore. The top 25 held 24.03%, and the top 100 held 51.77%: more than half of all the money in Indian mutual funds sits in a hundred schemes.

Below them the count rises quickly. 25 schemes averaged at least ₹50,000 crore, 76 at least ₹25,000 crore and 200 at least ₹10,000 crore.

Eight fund houses share the top 25. SBI and ICICI Prudential have five each, HDFC and Nippon India four each, Kotak Mahindra three, UTI two, and PPFAS and Aditya Birla Sun Life one each.

What this does not tell you

Size is not a verdict. A scheme's size reflects its history, its distribution and what kind of product it is. An index ETF's size says little about it beyond how much money chose that route to the index.

It is a quarterly average. AAUM is the mean of January–March's daily assets, a quarter in which markets fell, so it differs from any single day's figure.

Names follow AMFI's list for the quarter. Schemes are matched across plans by name, and each figure is the scheme's total.

Where to go from here

Each scheme links to its own page with returns and risk. For the houses behind these schemes, see the largest fund houses in January–March 2026. The guides to index funds and ETFs and hybrid and balanced advantage funds explain the two kinds of product that take most of the top places.