Smallcap mutual funds narrow AUM gap with largecap peers in FY2024. Check details

Not just superior returns in FY2024, smallcap mutual funds managed to narrow the difference in their overall assets under management (AUM) with large cap peers in FY2024. Data analysed by ETMarkets showed that difference in AUMs of large and smallcap MFs came down to Rs 45,000 crore in February 2024 from Rs 1.02 lakh crore in April 2023.

In April, the combined AUM of all active largecap schemes stood at Rs 2.44 lakh crore versus Rs 1.42 lakh crore AUM of smallcap schemes. In February, the combined AUM of all largecap schemes was reported at 3.05 lakh crore as against AUM of 2.49 lakh crore by smallcap schemes.

While March data is due for a release next week, AUM for smallcap schemes rose by a staggering 1.07 lakh crore versus Rs 61,000 crore by largecap schemes.


The AUM comprises inflows along with capital appreciation in funds. In smallcap schemes, net inflows between April and February amounted to Rs 40,282 crore (including inflows in NFOs) while the rest was growth in net asset value (NAV). Meanwhile, largecap schemes witnessed net outflows of Rs 2,741 crore in the said period though their NAV went up.

There are currently 28 smallcap mutual fund schemes and here is a list of five funds with highest AUM as on February 29, 2024.

The average returns of these five schemes stood at 49.12% as on April 2, 2024. They are benchmarked against Nifty Smallcap 250 - TRI and S&P BSE 250 Small Cap - TRI with absolute returns of 64.14% and 59.31%, respectively.

As for the largecap MFs, there are currently 31 schemes and here is a list of five funds with highest AUM as on February 29, 2024.


The average returns of these five schemes stood at 49.12% as on April 2, 2024. They are benchmarked against S&P BSE 100 - TRI and NIFTY 100 - TRI with absolute returns of 34.17% and 34.78%, respectively.

5 smallcap funds with highest AUM growth:

5 largecap funds with highest AUM growth

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