The AUM (asset under management) of mutual funds reported in most online portals is the AUM of the regular plan (commissions removed before NAV declaration) plus the AUM of the direct plan (no commissions). This article lists the most popular direct plan mutual funds. That is the ones with the largest AUM.
Each quarter, the association of mutual funds in India (AMF) reports the average AUM per quarter. Domestic fund of funds AUM is reported separately to avoid double-counting assets. This reports the AUM of the direct and regular plan mutual funds separately. Also, under each plan, one can find the AUM in the dividend (IDCW) and growth options. NB: Plans and options have distinct meanings for mutual funds and should not be used interchangeably!
Let us now slice the AUM step by step. The data corresponds to Average Assets under Management (AAUM) for the quarter of October – December 2020 (Rs in Lakhs).
- Grand Total: Rs. 402675769.4 Lakhs (excluding domestic FoFs)
- ETF: Rs. 50563326.15 Lakhs (excluding domestic FOFs; these have no direct plan, regular plan, growth, or dividend options!). Aum share of ETFs: 12.55%
- Almost 3.77% of the total AUM is held in SBI-ETF Nifty 50.
- Regular Plan: Rs. 210472726.6 Lakhs. Aum share of regular plan MFs: 59.77%
- Direct Plan: Rs. 141639716.6 Lakhs. Aum share of direct plan MFs: 40.22%
We expect much of the direct plan AUM to be in liquid funds, money market funds and other debt funds. Let us inspect the top 50 direct plan funds.
The top 9 are short-term debt funds (The AUM is in Lakhs
Join 32,000+ readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email! (Link takes you to our email sign-up form)
🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥
- SBI Liquid Fund – DIRECT PLAN -Growth 5016853.57
- HDFC Liquid Fund – Growth Option – Direct Plan 3987565.69
- ICICI Prudential Liquid Fund – Direct Plan-Growth 3145353.96
- Aditya Birla Sun Life Liquid Fund – Growth – Direct Plan 2997539.37
- Kotak Liquid – Growth – Direct 2651579.83
- UTI-Liquid Cash Plan – Direct Plan – Growth Option 2379785.48
- Nippon India Liquid Fund – Direct Plan Growth Plan – Growth Option 2175927.47
- Axis Liquid Fund – Direct Plan – Growth Option 2072693.19
- SBI OVERNIGHT FUND – DIRECT PLAN – GROWTH 1903734.61
At no 10 is Parag Parikh Flexi Cap Fund – Direct Plan-Growth with Rs. 1727404.88 Lakhs AUM. Making it the most popular direct plan equity mutual fund (we shall not consider arbitrage funds as equity funds for this classification). We have not consolidated growth and dividend (IDCW) options. Even if we did, the IDCW contributions from equity direct plan funds are too small to displace Parag Parikh Flexicap (which does not have an IDCW option).
There are nine equity funds if we consider the next 45 funds.
| Scheme Name | Average AUM |
| Axis Bluechip Fund – Direct Plan – Growth | 1216543 |
| Mirae Asset Large Cap Fund – Direct Plan – Growth | 1168819 |
| Kotak Flexicap Fund – Growth – Direct | 940412.9 |
| SBI BLUE CHIP FUND-DIRECT PLAN -GROWTH | 906744 |
| HDFC Flexi Cap Fund – Growth Option – Direct Plan | 864729.7 |
| ICICI Prudential Bluechip Fund – Direct Plan – Growth | 841726.7 |
| Mirae Asset Emerging Bluechip Fund – Direct Plan – Growth | 803763.6 |
| Axis Long Term Equity Fund – Direct Plan – Growth Option | 802786.7 |
| ICICI Prudential Balanced Advantage Fund – Direct Plan -Growth | 705882.3 |
The next 45 popular direct plan funds are tabulated below.
| Scheme Name | Average AUM |
| ICICI Prudential Savings Fund – Direct Plan – Growth | 1606308 |
| Tata Liquid Fund- Direct Plan-Growth Option | 1422676 |
| HDFC Overnight Fund – Growth Option – Direct Plan | 1366383 |
| HDFC Floating Rate Debt Fund – Direct Plan – Growth Option | 1326602 |
| IDFC Corporate Bond Fund – Direct Growth | 1280809 |
| Axis Bluechip Fund – Direct Plan – Growth | 1216543 |
| HDFC Corporate Bond Fund – Growth Option – Direct Plan | 1206842 |
| ICICI Prudential Overnight Fund – Direct Plan – Growth | 1196207 |
| ICICI Prudential Corporate Bond Fund – Direct Plan – Growth | 1190140 |
| Kotak Money Market Scheme – (Growth) – Direct | 1187089 |
| Aditya Birla Sun Life Floating Rate Fund-Direct Plan-Growth | 1183819 |
| Mirae Asset Large Cap Fund – Direct Plan – Growth | 1168819 |
| Aditya Birla Sun Life Money Manager Fund – Growth – Direct Plan | 1067542 |
| Kotak Equity Arbitrage Fund – Growth – Direct | 1066880 |
| HSBC Liquid Fund -Growth Direct | 1036929 |
| IDFC Cash Fund -Direct Plan-Growth | 1028646 |
| Kotak Savings Fund-Growth – Direct | 976392.9 |
| HDFC Money Market Fund – Growth Option – Direct Plan | 971174.7 |
| DSP Liquidity Fund – Direct Plan – Growth | 956129.5 |
| SBISAVINGS FUND – DIRECT PLAN – GROWTH | 942538.8 |
| Kotak Flexicap Fund – Growth – Direct | 940412.9 |
| ADITYA BIRLA SUN LIFE OVERNIGHT FUND-DIRECT PLAN-GROWTH | 915712.8 |
| SBI BLUE CHIP FUND-DIRECT PLAN -GROWTH | 906744 |
| Aditya Birla Sun Life Savings Fund – Growth – Direct Plan | 878217.7 |
| Nippon India Overnight Fund – Direct Plan – Growth Option | 876655.2 |
| ICICI Prudential Money Market Fund Option – Direct Plan -Growth | 870980.9 |
| Kotak Bond Short Term Plan-(Growth) – Direct | 866807.1 |
| HDFC Flexi Cap Fund – Growth Option – Direct Plan | 864729.7 |
| IDFC-IDFC Banking & PSU Debt Fund – Direct Growth | 850974.5 |
| ICICI Prudential Bluechip Fund – Direct Plan – Growth | 841726.7 |
| Kotak Overnight Fund -Direct Plan-Growth Option | 834619.3 |
| Axis Overnight Fund – Direct Plan – Growth Option | 826738.6 |
| Mirae Asset Emerging Bluechip Fund – Direct Plan – Growth | 803763.6 |
| Axis Long Term Equity Fund – Direct Plan – Growth Option | 802786.7 |
| SBI SHORT TERM DEBT FUND – DIRECT PLAN -GROWTH | 792440.1 |
| Axis Banking & PSU Debt Fund – Direct Plan – Growth Option | 792105.3 |
| HDFC Ultra Short Term Fund – Direct Plan-Growth Option | 789504 |
| Nippon India Money Market Fund – Direct Plan Growth Plan – Growth Option | 777463.6 |
| SBI MAGNUM ULTRA SHORT DURATION FUND – DIRECT PLAN – GROWTH | 765626.5 |
| Aditya Birla Sun Life Corporate Bond Fund – Growth – Direct Plan | 758799.2 |
| UTI – Overnight Fund – Direct Plan – Growth Option | 742623.9 |
| Nippon India Floating Rate Fund- Direct Plan Growth Plan – Growth Option | 734383.4 |
| HDFC Short TermDebt Fund – Growth Option – Direct Plan | 707242.2 |
| Aditya Birla Sun Life Nifty SDL Plus PSU Bond SEP 2026 60:40 Index Fund-Direct Growth | 707222.5 |
| ICICI Prudential Balanced Advantage Fund – Direct Plan -Growth | 705882.3 |
🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 7000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! ⇐ More than 2,500 investors and advisors use this!
Track your mutual funds and stock investments with this Google Sheet!
We also publish monthly equity mutual funds, debt and hybrid mutual funds, index funds and ETF screeners and momentum, low-volatility stock screeners.
- Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
- Have a question? Subscribe to our newsletter using the form below.
- Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.
Join 32,000+ readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email! (Link takes you to our email sign-up form)
About The Author
Dr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course! Increase your income by getting people to pay for your skills! ⇐ More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our new book for kids: “Chinchu Gets a Superpower!” is now available!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Do you want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & its content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our YouTube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing
Published by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
This book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.Your Ultimate Guide to Travel
This is an in-depth dive into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically, with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)