Equity holds the largest slice
Active equity funds held 43.1% of the mutual fund industry's average assets in April–June 2026, and they added ₹1,13,542 crore over the quarter, about 72% of the whole industry's increase.
These figures add up AMFI's scheme-wise average AUM (AAUM) for April–June by category. The schemes come to ₹82,29,715 crore, 99.0% of AMFI's house-level total of ₹83,14,467 crore. Domestic fund-of-funds are left out, as in AMFI's headline figure, because their money is already counted in the funds they buy. About 92% of the money is in schemes we matched by name to a fund in our data; the rest we classed by the scheme's name, which for most of it is unambiguous (liquid, short duration, hybrid).
The split
| Category | AAUM Apr–Jun 2026 (₹ crore) | Share | Change from Jan–Mar | Growth |
|---|---|---|---|---|
| Active equity | 35,45,689 | 43.1% | +1,13,542 | +3.3% |
| Debt | 19,45,802 | 23.6% | −4,642 | −0.2% |
| Hybrid | 11,79,464 | 14.3% | +21,064 | +1.8% |
| ETFs | 11,39,977 | 13.9% | +9,304 | +0.8% |
| Index funds | 3,15,043 | 3.8% | +11,143 | +3.7% |
| Solution-oriented | 57,785 | 0.7% | +752 | +1.3% |
| Overseas fund of funds | 45,954 | 0.6% | +7,550 | +19.7% |
| Total | 82,29,715 | 100% | +1,58,715 | +1.97% |
The total grew 1.97%, exactly as AMFI's house-level figures did. Equity's share rose from 42.5% to 43.1%, and debt's fell from 24.2% to 23.6%.
Passive products, ETFs and index funds together, hold 17.7% of the money. Most of it is in ETFs; index funds, which track many of the same indices, hold about a quarter as much.
Domestic fund-of-funds averaged a further ₹2,20,776 crore across the schemes in the list, close to AMFI's own figure of ₹2,20,797 crore.
Inside the categories
For the schemes matched to a fund in our data, the sub-category moves show where the quarter's changes came from.
| Grew most | Added (₹ crore) | Growth |
|---|---|---|
| Liquid funds | 74,769 | 12.6% |
| Small-cap funds | 40,419 | 11.3% |
| Mid-cap funds | 29,600 | 6.6% |
| Flexi-cap funds | 17,749 | 3.3% |
| Multi-asset allocation funds | 16,309 | 8.7% |
| Gold ETFs | 10,485 | 6.3% |
| Fell most | Change (₹ crore) | Growth |
|---|---|---|
| Corporate bond funds | −11,538 | −5.9% |
| Short duration funds | −11,218 | −14.8% |
| Low duration funds | −8,739 | −11.6% |
| Money market funds | −7,259 | −2.8% |
| Silver ETFs | −6,164 | −6.8% |
| Large-cap funds | −5,659 | −1.4% |
Debt looks flat only because two opposite moves cancel. Liquid funds grew by ₹74,769 crore while short duration, low duration, corporate bond, money market and gilt funds shrank.
Prices against money
AAUM moves with new money and with the value of what is already held, and the two can be pulled apart a little by setting each category against its market:
- Small-cap funds grew 11.3%; the Nifty Smallcap 250's average close rose 6.54% from January–March.
- Large-cap funds fell 1.4%; the Nifty 50's average close fell 4.75%.
- Gold ETFs grew 6.3%; the average gold price in rupees fell 3.9%.
- Silver ETFs fell 6.8%; the average silver price fell 8.6%.
In each case assets did better than prices alone would explain, which points to money coming in. The comparison is rough, since a fund's holdings are not exactly its index and averages smooth out the timing, but the direction is consistent.
What this does not tell you
Categories are broad. "Equity" here includes every active equity fund, from large-cap to sectoral, and "ETFs" mixes equity, gold, silver and debt ETFs.
The sub-category tables cover about 92% of the money. Schemes we could not match by name are in the category totals but not in the sub-category rows.
These are quarterly averages, not end-of-quarter balances, and not a recommendation to favour any category.
Where to go from here
The categories page has every SEBI category with its funds, and the guide to SEBI's fund categories explains how they are defined. For the schemes that climbed most, see the largest mutual fund schemes in April–June 2026; for the houses, the largest fund houses in April–June 2026.
Frequently asked questions
How is mutual fund money split by category in India?
In April–June 2026, active equity funds held 43.1% of average assets, debt funds 23.6%, hybrid funds 14.3%, ETFs 13.9%, index funds 3.8%, solution-oriented funds 0.7% and overseas fund-of-funds 0.6%, on AMFI's scheme-wise figures excluding domestic fund-of-funds.
Which mutual fund categories grew in April–June 2026?
Active equity funds added ₹1,13,542 crore (3.3%) from January–March 2026, about 72% of the industry's increase. Index funds grew 3.7% and overseas fund-of-funds 19.7%. Debt funds were flat at −0.2%, as a ₹74,769 crore rise in liquid funds offset falls in short-term debt categories.
Did gold and silver ETFs grow in April–June 2026?
Gold ETFs' average assets rose 6.3% to ₹1,78,060 crore although the average gold price in rupees was 3.9% lower than in January–March 2026. Silver ETFs fell 6.8% to ₹83,959 crore, against an 8.6% fall in the average silver price.
This is commentary on published data, not investment advice. WealthTicker is not a SEBI-registered adviser or distributor. Figures are as of the dates stated and can be revised by their source.
Keep reading
Fastest-growing mutual fund houses in 2026
Industry AAUM rose 15.3% in the year to April–June 2026. Helios, Zerodha and WhiteOak grew fastest; ICICI Prudential and Nippon India added the most rupees.
Five-star mutual funds: what the ratings show
185 of 1,629 rated funds hold 5 stars. Among flexi caps, the 5-star median 3-year return trailed the 4-star one; the edge was smaller falls and lower costs.
Fund managers with the most schemes in 2026
One Kotak manager is named on 88 schemes and nine others on 46 to 59. Most are index funds and ETFs, or roles like managing a fund's overseas holdings.