Tata Mutual Fund by the numbers: 9th a year ago, 11th now

The house in one number

Tata Mutual Fund managed an average of ₹2,36,199 crore in July–September 2026. That is 2.71% of the industry's ₹87,21,848 crore and makes it the 11th largest fund house on AMFI's quarterly average AUM, which leaves out domestic fund-of-funds. Mirae Asset, ₹1,222 crore ahead, passed it this quarter; our league table of fund houses has the full list.

Tata grew 8.9% in a year, from ₹2,16,961 crore, against 13.1% for the industry. A year ago it was 9th. Over the 66 quarters on file it has ranked 11th in 25, 13th in 18 and 12th in 15, and 9th only four times, all since January–March 2025 (April–June 2025 is the exception, at 11th or lower).

Over ten years Tata grew 5.95 times, a little faster than the industry's 5.41, and moved up from 12th to 11th. The recent slide is the opposite of that: in two quarters Tata went from 9th to 11th while still growing, because houses around it grew faster. DSP, Mirae Asset and Bandhan each grew more than 5% in the latest quarter; Tata grew 3.4%.

71 schemes, and a big index range

We counted every Tata open-ended scheme that has a Direct Growth plan, ETFs excluded:

Eleven of the 21 equity-category funds are sector or thematic, and the 22 index funds make the passive range the largest single block by count. The counts are of schemes, not of money, and ETFs are not included.

How the diversified funds rank in their categories

Direct Growth returns to 9 October 2026, annualised over three and five years; ranks are among the Direct Growth funds in each category with that much history.

The value, ELSS and dividend yield funds are the strong end, and the three together are in the upper half of their categories over five years. The weak end is the Large & Mid Cap fund, last of 33 over a year and last of 26 over three, and the Flexi Cap fund, last of 40 over a year. Those are, respectively, the worst and second-worst one-year returns in the house among its diversified funds.

Four of 14 diversified funds were in the top half of their category over three years: Arbitrage (1st of 26), Dividend Yield, ELSS and Value. The rest, including the Balanced Advantage fund (27th of 30), Aggressive Hybrid (27th of 28) and Multi Asset Allocation (12th of 15), were in the lower half. That matches the pattern in our scorecard of fund houses against their categories.

Costs are the strength

On AMFI's expense filings, nine of Tata's core equity funds compare with their category median Direct TER like this:

Eight of nine are below their category median; only Large Cap is above. Across its 20 equity funds, Tata's average Direct expense ratio is 0.91%, the fourth lowest among the houses with at least ten (see expense ratios by fund house), against 1.20% for all equity funds. Low cost has not translated into top-half returns, which is a reminder that the expense ratio is a hurdle, not a result.

The thematic range

Tata's sector and thematic funds are more varied. India Pharma & Healthcare returned 17.9% a year over three years (36th of 142 funds in the sector and thematic group) and 4.0% over one year. Resources & Energy returned 14.5% over three years and India Consumer 13.6%. At the bottom, Digital India lost 15.0% in the year and returned 3.7% a year over three, and Ethical lost 9.8% in the year. In a group this mixed, a rank among all sector funds is a weak yardstick; compare these only with funds in the same theme.

What the numbers do not tell you

Rank is not reward. Holding eleventh place says Tata's inflows kept pace with parts of the industry and not others.

Category ranks move. A value or dividend-yield fund's lead over five years reflects a stretch that favoured those styles.

Small categories exaggerate. First of 10 or 3rd of 9 is a rank among a handful of funds.

None of this is a recommendation to buy or sell any fund. To check any one of Tata's funds against its category, open it on the screener.