Top Mutual Funds in India (2026)

Mutual funds in India work as regulated investment vehicles that collect money from many investors and invest it across a diversified set of securities. SEBI regulates the industry while AMFI supports industry standards and investor awareness. This structure allows investors to access capital markets through professionally managed portfolios that cater to different risk levels and financial goals.

Top Mutual Funds in India as per AUM

Here is a list of mutual funds based on AUM:

Disclaimer: Please note that the above mutual fund schemes list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Mutual Fund Screener and is subject to real-time updates.

Note: The data on the list of mutual funds is from 9th March 2026. This data is derived from the Tickertape Mutual Funds Screener.

• Plan: Growth
• Category: Equity
• AUM: Sorted from highest to lowest

Pro Tip: You can use Tickertape’s Mutual Fund Screener to research and evaluate funds with over 50+ pre-loaded filters and parameters.

What are Mutual Funds in India?

A mutual fund collects money from multiple investors and invests it across different securities such as equities, debt instruments, money market instruments, or a mix of these assets. Asset Management Companies manage these funds while SEBI regulates the overall framework in India.

Investors receive units in proportion to the amount they invest. The value of these units appears as the Net Asset Value or NAV. Fund houses calculate NAV at the end of each business day based on the market value of the underlying portfolio. Investors can access mutual funds in India through AMCs, registered distributors, and online investment platforms. Both resident Indians and Non Resident Indians can invest, subject to applicable regulations.

Overview of Top Mutual Funds in India as per AUM

SBI Gold Fund

SBI Gold Fund invests mainly in units of SBI Gold ETF, which tracks domestic gold prices. The fund gives investors exposure to gold through a mutual fund structure without buying or storing physical gold. Investors can invest through lump sum investments or systematic investment plans.

HDFC Gold ETF FoF

HDFC Gold ETF Fund of Fund invests in units of HDFC Gold ETF. The scheme gives investors exposure to gold price movements through the mutual fund route. The structure removes the need for physical gold storage and allows participation without opening a Demat account.

ICICI Pru Silver ETF FoF

ICICI Prudential Silver ETF Fund of Fund invests in units of ICICI Prudential Silver ETF. The fund gives exposure to domestic silver price movements through a mutual fund structure. Investors access silver as an asset class without holding physical silver or managing storage and security.

Nippon India Gold Savings Fund

Nippon India Gold Savings Fund is a Fund of Funds that invests in units of Nippon India ETF Gold BeES, offering investors exposure to gold price movements through a convenient mutual fund route, including the option of systematic investments via SIP.

Kotak Gold Fund

Kotak Gold Fund invests in units of Kotak Gold ETF, which tracks domestic gold prices. The fund gives investors exposure to gold through a mutual fund route without purchasing physical gold. Investors access gold price movements through a simplified investment structure.

ICICI Pru Gold ETF FoF

ICICI Prudential Gold ETF Fund of Fund invests in units of ICICI Prudential Gold ETF. The fund gives exposure to domestic gold price movements through a mutual fund structure. Investors gain access to gold without the operational requirements of holding physical gold.

Nippon India Silver ETF FoF

Nippon India Silver ETF Fund of Fund invests mainly in units of Nippon India ETF Silver. The scheme gives exposure to domestic silver price movements through a mutual fund structure. Investors participate in silver markets without purchasing or storing physical silver.

HDFC Silver ETF FoF

HDFC Silver ETF Fund of Fund invests in units of HDFC Silver ETF. The scheme gives exposure to domestic silver prices through the mutual fund route. Investors participate in silver price movements without holding physical silver or maintaining storage facilities.

Edelweiss Gold and Silver ETF FoF

Edelweiss Gold and Silver ETF Fund of Fund invests in a mix of gold and silver ETFs. The fund provides exposure to both precious metals through a single mutual fund scheme without physical holdings or a Demat account.

Motilal Oswal Gold and Silver Passive FoF

Motilal Oswal Gold and Silver Passive Fund of Fund allocates investments across gold and silver ETFs. The scheme gives exposure to both precious metals through a passive investment structure. Investors access gold and silver price movements through the mutual fund route.

Taxation on Mutual Funds in India

The tax treatment of mutual fund returns in India depends on the fund category and the investment holding period. The following table outlines the applicable capital gains tax structure for FY 2026-27.

Categories and Types of Mutual Funds in India

SEBI groups mutual funds in India into five broad categories based on the type of assets they invest in and their investment mandate.

• Equity Funds: Equity funds invest at least 65% of their corpus in equity and equity-related instruments. Common categories include large-cap, mid-cap, small-cap, flexi-cap, sectoral funds, and thematic funds. These funds usually carry higher market volatility, and investors often associate them with longer investment horizons.
• Debt Funds: Debt funds invest mainly in fixed income instruments such as government securities, corporate bonds, treasury bills, and money market instruments. Categories include liquid funds, overnight funds, gilt funds, credit risk funds, and dynamic bond funds. Each category differs in maturity profile and credit quality.
• Hybrid Funds: Hybrid funds allocate investments across both equity and debt. The proportion of each asset class varies across schemes. Categories include aggressive hybrid funds, conservative hybrid funds, balanced advantage funds, multi-asset allocation funds, and arbitrage funds. These schemes combine growth exposure with relatively stable income sources.
• Solution-Oriented Funds: Solution-oriented funds focus on specific financial goals such as retirement planning or children’s education. These schemes follow structured investment mandates and typically include mandatory lock in periods aligned with long term financial objectives.
• Other Funds: This category includes Fund of Funds, which invests in units of other mutual fund schemes. It also includes index funds and exchange-traded funds that track the performance of market indices such as NIFTY 50 through passive investment strategies.

Who Can Consider Investing in Mutual Funds in India?

Mutual funds in India are accessible to a wide range of investors across different financial profiles and investment objectives.

• First-time investors: The investors seeking a structured and professionally managed entry into capital markets may find mutual funds accessible due to low minimum investment thresholds and the availability of Systematic Investment Plans (SIPs).
• Salaried individuals: The individuals looking to build long-term wealth through disciplined, periodic investments may evaluate equity or hybrid mutual funds based on their risk profile and time horizon.
• Conservative investors: Investors who prefer capital preservation and stable returns may assess debt fund categories such as liquid funds, overnight funds, or gilt funds based on their specific requirements.
• HNIs and corporates: Investors managing surplus cash or seeking portfolio diversification across asset classes may evaluate a range of fund categories depending on their liquidity needs and return expectations.
• NRIs: They may invest in Indian mutual funds subject to compliance with FEMA regulations and the Foreign Account Tax Compliance Act (FATCA) requirements.

Benefits of Investing in Mutual Funds in India

• Professional fund management: Mutual funds are managed by qualified fund managers who conduct research, monitor market conditions, and make informed investment decisions on behalf of investors.
• Diversification across securities: A single mutual fund unit provides exposure to a diversified portfolio of securities, reducing the concentration risk associated with direct stock or bond investments.
• Accessibility through SIPs: Systematic Investment Plans enable investors to participate in mutual funds with as little as ₹100 per month, making them accessible across different income levels.
• Regulatory oversight by SEBI: The mutual fund industry in India operates under a well-defined regulatory framework, with mandatory disclosures, standardised categorisation, and investor protection norms enforced by SEBI.
• Liquidity in open-ended schemes: Most open-ended mutual funds allow investors to redeem their units on any business day at the prevailing NAV, providing flexibility to access funds when required.
• Range of fund categories: The availability of diverse fund categories, spanning equity, debt, hybrid, and passive funds, allows investors to align their investments with specific financial goals, risk tolerance, and time horizons.
• Tax efficiency through ELSS: Equity Linked Savings Schemes (ELSS) offer a tax deduction of up to ₹1.5 lakh per financial year under Section 80C of the Income Tax Act, along with the potential for capital appreciation.

Risks of Investing in Mutual Funds in India

• Market risk in equity funds: Equity mutual funds are subject to market volatility, and their NAVs can fluctuate significantly in response to broader market conditions, sectoral movements, and macroeconomic factors.
• Credit risk in debt funds: Debt funds that invest in lower-rated instruments are exposed to issuer default risk and credit downgrades, which can negatively impact the fund’s NAV.
• Interest rate risk: Debt funds, particularly those with longer durations, are sensitive to interest rate changes. Rising interest rates typically result in a decline in bond prices and, consequently, the fund’s NAV.
• Liquidity risk in specific categories: Certain fund categories, such as closed-ended funds or those with higher exposure to illiquid securities, may not offer the same level of liquidity as standard open-ended funds.
• Concentration risk in sectoral and thematic funds: Sectoral and thematic funds invest in a specific industry or theme, making them more susceptible to sector-specific downturns than diversified equity funds.
• Exit load and expense ratio impact: Ongoing charges, such as the expense ratio, and applicable exit loads on early redemptions reduce the net returns investors receive over time.
• Risk of underperformance: Actively managed mutual funds may underperform their benchmark indices, particularly during periods when fund manager decisions do not align with prevailing market movements.

Factors to Consider While Investing in Mutual Funds in India

• Investment objective and financial goal: The investment objective defines the purpose of allocating capital to mutual funds. Investors may pursue capital growth, income generation, tax savings, or liquidity management. The selected mutual fund category usually reflects the stated objective.
• Risk tolerance: Risk tolerance refers to an individual’s capacity to withstand market fluctuations. Equity funds typically exhibit higher volatility, while debt and liquid funds generally show relatively lower volatility due to their underlying asset composition.
• Fund performance and track record: Historical performance provides insight into how a fund has behaved across different market cycles. Investors often compare mutual funds online along with the returns with benchmark indices and category averages while recognising that past performance does not guarantee future outcomes.
• Expense ratio: The expense ratio represents the annual cost of managing a mutual fund and is deducted from the Net Asset Value. Over the long term, this cost directly affects the fund’s overall net return.
• Fund manager experience: The fund manager’s investment philosophy, professional experience, and consistency of decision-making across different market environments form part of the qualitative assessment of a mutual fund.
• Exit load structure: Exit load refers to the fee charged when investors redeem units within a specified time period. Each scheme specifies its exit load policy, which can influence the effective cost of early redemption.
• Tax implications: The taxation of mutual fund returns depends on the fund category and the holding period. Tax treatment influences the final post tax outcome realised from the investment.

Conclusion

Mutual funds in India offer a regulated, professionally managed, and accessible avenue for investors across different financial profiles to participate in capital markets. With a wide range of fund categories governed by SEBI, investors can align their investments with specific financial goals, risk appetite, and investment horizons. However, selecting a mutual fund requires a thorough evaluation of factors such as fund category, expense ratio, tax implications, and individual financial circumstances. A considered and well-informed approach to fund selection remains essential to making mutual fund investments a meaningful component of a long-term financial plan.

Frequently Asked Questions About Mutual Funds in India