What is AAUM in mutual funds?

AAUM stands for Average Assets Under Management — the average of a fund's AUM over a quarter, published by AMFI. It is used to compare fund house sizes on a standardised basis.

What is the difference between Direct and Regular AAUM?

Direct AAUM covers investors who invested without a distributor. Regular AAUM includes assets where distributor commission is paid. A higher Direct percentage means lower expense ratios for those investors.

How often is AAUM data updated?

AMFI publishes quarterly AAUM data within weeks of each quarter end. RightAdvise updates this data as soon as AMFI releases it, covering Q1 to Q4 of the financial year.

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Mutual Fund AAUM Analytics

Average Assets Under Management · Direct vs Regular plan · FY2026 · Values in Crores

📊 Overview 💰 Fund Wise 🏢 AMC Wise 📁 Category Wise ⚡ ETF Rankings 📈 AAUM Growth 🔄 Direct Trend

Quarter › Q1 · Apr-Jun 2025 Q2 · Jul-Sep 2025 Q3 · Oct-Dec 2025 Q4 · Jan-Mar 2026

Fund Wise AAUM — Oct-Dec 2025

25 active funds · Index & ETF excluded

#	Fund	Total AAUM ▼	Direct ↕	Regular ↕	Direct vs Regular	Direct % ↕
1	Parag Parikh Flexi Cap Fund - Direct Plan - Growth Parag Parikh Mutual FundFlexi Cap	₹1.28 L Cr	₹84.3 K Cr	₹43.5 K Cr	66%34%	65.98%
2	HDFC Flexi Cap Fund - Growth Option - Direct Plan HDFC Mutual FundFlexi Cap	₹90.4 K Cr	₹29.1 K Cr	₹61.3 K Cr	32%68%	32.16%
3	HDFC Mid Cap Fund - Growth Option - Direct Plan HDFC Mutual FundMid Cap	₹88.9 K Cr	₹22.9 K Cr	₹65.9 K Cr	26%74%	25.82%
4	SBI EQUITY HYBRID FUND - DIRECT PLAN - Growth SBI Mutual FundEquity	₹78.0 K Cr	₹4.7 K Cr	₹73.2 K Cr	6%94%	6.08%
5	HDFC Balanced Advantage Fund - Growth Plan - Direct Plan HDFC Mutual FundBalanced Advantage	₹73.6 K Cr	₹19.5 K Cr	₹54.1 K Cr	27%73%	26.51%
6	ICICI Prudential Multi-Asset Fund - Direct Plan - Growth ICICI Prudential Mutual FundEquity	₹69.7 K Cr	₹14.5 K Cr	₹55.2 K Cr	21%79%	20.82%
7	Nippon India Small Cap Fund - Direct Plan Growth Plan - Growth Option Nippon India Mutual FundSmall Cap	₹67.6 K Cr	₹20.5 K Cr	₹47.0 K Cr	30%70%	30.39%
8	ICICI Prudential Balanced Advantage Fund - Direct Plan - Growth ICICI Prudential Mutual FundBalanced Advantage	₹67.5 K Cr	₹15.2 K Cr	₹52.4 K Cr	22%78%	22.46%
9	Kotak Midcap Fund - Direct Plan - Growth Kotak Mutual FundMid Cap	₹59.8 K Cr	₹14.8 K Cr	₹45.0 K Cr	25%75%	24.69%
10	ICICI Prudential Value Fund (erstwhile Value Discovery Fund) - Direct Plan - Growth ICICI Prudential Mutual FundValue/Contra	₹57.9 K Cr	₹17.4 K Cr	₹40.5 K Cr	30%70%	30.03%
11	Kotak Flexicap Fund - Growth - Direct Kotak Mutual FundFlexi Cap	₹55.2 K Cr	₹17.2 K Cr	₹38.0 K Cr	31%69%	31.09%
12	SBI Large Cap FUND-DIRECT PLAN -GROWTH SBI Mutual FundLarge Cap	₹53.5 K Cr	₹15.8 K Cr	₹37.7 K Cr	30%70%	29.53%
13	Nippon India Multi Cap Fund - Direct Plan Growth Plan - Growth Option Nippon India Mutual FundMulti Cap	₹48.4 K Cr	₹8.9 K Cr	₹39.5 K Cr	18%82%	18.41%
14	Nippon India Large Cap Fund - Direct Plan Growth Plan - Growth Option Nippon India Mutual FundLarge Cap	₹48.2 K Cr	₹15.9 K Cr	₹32.4 K Cr	33%67%	32.86%
15	SBI CONTRA FUND - DIRECT PLAN - GROWTH SBI Mutual FundValue/Contra	₹48.0 K Cr	₹14.0 K Cr	₹33.9 K Cr	29%71%	29.26%
16	Kotak Arbitrage Fund - Direct Plan - Growth Kotak Mutual FundArbitrage	₹44.7 K Cr	-	-	0%100%	%
17	Mirae Asset Large & Midcap Fund - Direct Plan - Growth Mirae Asset Mutual FundMid Cap	₹42.6 K Cr	₹16.4 K Cr	₹26.2 K Cr	38%62%	38.48%
18	SBI FOCUSED FUND - DIRECT PLAN -GROWTH SBI Mutual FundFocused	₹41.1 K Cr	₹11.7 K Cr	₹29.4 K Cr	29%71%	28.50%
19	Mirae Asset Large Cap Fund - Direct Plan - Growth Mirae Asset Mutual FundLarge Cap	₹40.9 K Cr	₹15.8 K Cr	₹25.0 K Cr	39%61%	38.77%
20	Nippon India Growth Mid Cap Fund - Direct Plan Growth Plan - Growth Option Nippon India Mutual FundMid Cap	₹39.7 K Cr	₹7.6 K Cr	₹32.1 K Cr	19%81%	19.07%
21	SBI Balanced Advantage Fund - Direct Plan - Growth SBI Mutual FundBalanced Advantage	₹38.8 K Cr	₹4.1 K Cr	₹34.7 K Cr	11%89%	10.58%
22	HDFC Large Cap Fund - Growth Option - Direct Plan HDFC Mutual FundLarge Cap	₹38.5 K Cr	₹10.4 K Cr	₹28.2 K Cr	27%73%	26.90%
23	HDFC Small Cap Fund - Growth Option - Direct Plan HDFC Mutual FundSmall Cap	₹37.5 K Cr	₹13.0 K Cr	₹24.5 K Cr	35%65%	34.78%
24	Motilal Oswal Midcap Fund-Direct Plan-Growth Option Motilal Oswal Mutual FundMid Cap	₹37.2 K Cr	₹22.2 K Cr	₹15.0 K Cr	60%40%	59.73%
25	SBI Small Cap Fund - Direct Plan - Growth SBI Mutual FundSmall Cap	₹36.0 K Cr	₹12.4 K Cr	₹23.7 K Cr	34%66%	34.32%

* Active funds only · Index funds and ETFs excluded · Direct % = Direct Plan AAUM as % of total fund AAUM

RightAdvise tracks quarterly AAUM data for all active mutual fund schemes in India — showing the split between Direct and Regular plans across fund houses, categories and individual funds. Data sourced from official AMFI quarterly disclosures. Updated every quarter.

What Is AAUM and Why Does It Matter?

AAUM — Average Assets Under Management — is the quarterly average of a fund's total AUM. It is the official metric AMFI uses to rank fund houses and calculate expense ratio slabs. A rising AAUM indicates investor confidence; a falling AAUM may signal outflows or poor performance.

What Does the Direct vs Regular Split Tell You?

The Direct percentage shows what proportion of a fund's AUM is held by investors who bypassed distributors. A higher Direct share means lower average expense ratios for investors in that fund. Industry-wide, the Direct share has been rising steadily — a sign of increasing financial awareness among Indian investors.

How Often Is This Data Updated?

AMFI publishes quarterly AAUM data within a few weeks of each quarter end — Q1 (Apr–Jun), Q2 (Jul–Sep), Q3 (Oct–Dec) and Q4 (Jan–Mar). RightAdvise updates this page as soon as AMFI releases the data.

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