Flexi Cap Funds Lead Equity MF Growth As AUM Hits ₹33.54 Lakh Crore

Equity-oriented mutual funds recorded a 17.38% year-on-year rise in average assets under management (AUM) to ₹33.54 lakh crore in March 2026, up from ₹28.57 lakh crore a year earlier, according to AMFI data analysed by Abakkus Mutual Fund.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

Flexi Cap funds became the largest type of equity schemes with an average net asset base increase of 25.10% to ₹5.28 lakh crore from ₹4.22 lakh crore as on March 2025.

Flexi Cap Funds Become Largest Type of Equity Mutual Funds

The percentage contribution of Flexi Cap funds in total AUM of equity mutual funds was 15.75% in March 2026 against 14.77% the previous year.

The category’s growth reflects continued inflows, with cumulative investments of around ₹5 lakh crore, as per AMFI data cited by Abakkus Mutual Fund.

Broad-Based Growth Across Categories

The Mid Cap funds showed a growth of 22.74% in the AUM, bringing the amount to ₹4.38 lakh crore, which accounted for 13.05% of the total equity AUM. The Small Cap funds too grew, with the AUM registering a growth of 20.33%, taking the AUM to ₹3.47 lakh crore, with an 10.35% share of the equity AUM. 

The Large Caps category had an estimated AUM of ₹3.87 lakh crore and a market share of 11.55%, which was lower than the 12.21% figure from March 2025. This portion of the sectoral and thematic funds remained relevant, with the overall value standing at ₹15.01 lakh crore, holding 14.93% market share, which was less than that observed in March 2025 by 15.52%.

Mixed Trends In Other Segments

AUM for Multi Cap funds witnessed a growth rate of 24.14% to ₹2.10 lakh crore while holding a share of 6.27%. Value & Contra funds also experienced a growth rate of 14.20% to ₹2.04 lakh crore with a market share of 6.08%.

Growth in ELSS funds was slowest at 1.99%, with AUM of ₹2.30 lakh crore while holding a market share of 6.85%. AUM for Focused funds increased by 16.99% to ₹1.64 lakh crore with a market share of 4.88%.

Dividend Yield category still continued to have the least amount of AUMs, at ₹30,604 crore, accounting for 0.91% of the market.

Data-Based Shift In Allocation

Equity mutual fund AUMs grew even when there was market volatility during FY26, as investments continued in diversified and multi-cap mutual fund schemes.

According to AMFI data, various types of mutual funds like mid-cap, small-cap, and multi-cap mutual funds witnessed double-digit growth in their AUM.

This trend reflects a change in investment trends among equity mutual funds, wherein Flexi Cap funds make up the highest proportion of the AUM as of March 2026.