Top 10 Mutual Funds by AUM: Parag Parikh Flexi Cap and HDFC Balanced Advantage Lead With Over ₹1 Lakh Crore

Assets Under Management (AUM) is a key indicator of where investors are allocating their capital. Here's a look at the top 10 mutual funds with the largest AUM as of November 2025, according to data from ACE MF.

Leading the pack is Parag Parikh Flexi Cap Fund, which holds the title of the largest active and flexi-cap fund based on AUM, with ₹1.29 lakh crore as of November 28, 2025.

The second-largest fund is HDFC Balanced Advantage Fund, a balanced advantage fund, with an AUM of ₹1.07 lakh crore as of November 2025.

Several other HDFC funds also feature prominently in the top 10. HDFC Flexi Cap Fund had an AUM of ₹94,068 crore, while HDFC Mid Cap Fund had ₹92,168 crore, both as of November 28, 2025.

SBI Equity Hybrid Fund, classified as an aggressive hybrid fund, recorded an AUM of ₹82,958 crore as of November 28, 2025.

ICICI Pru Large Cap Fund, the largest large-cap fund by AUM, held ₹78,159 crore as of November 28, 2025.

Kotak Arbitrage Fund, an arbitrage fund, showed an AUM of ₹72,773 crore as of November 28, 2025.

ICICI Pru Balanced Advantage Fund, another balanced advantage fund, had an AUM of ₹69,867 crore as of November 28, 2025.

Rounding out the list is Nippon India Small Cap Fund, the largest small-cap fund based on AUM, with ₹68,571 crore as of November 28, 2025.