HDFC Flexi Cap Fund turns Rs 10,000 SIP into Rs 23 crore in 31 years, AUM crosses Rs 1 lakh crore

HDFC Flexi Cap Fund, the second-largest flexicap fund based on assets under management, turned a Rs 10,000 monthly SIP into Rs 22.96 crore in nearly 31 years, according to a press release by the fund house. (As of August 31, 2026)

Launched on January 1, 1995, the flexicap fund has completed more than three decades of navigating market cycles and investing across largecap, midcap and smallcap stocks. A Rs 1 lakh investment in the fund at inception would have grown to approximately Rs 2 crore, compared with approximately Rs 37.71 lakh for the NIFTY 500 Index (TRI). The fund has delivered a CAGR of 18.37% since inception and 17.69% over five years, as of August 31, 2026.

The fund follows a disciplined investment approach centred on valuation discipline, quality and diversification, while retaining the flexibility to identify opportunities across market capitalisations.


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Its investment framework evaluates valuations holistically and focuses on businesses with strong fundamentals, quality management and sustainable competitive advantages. This market-cap agnostic approach enables the portfolio to adapt to changing market conditions and identify relative opportunities across largecap, midcap and smallcap segments.

“HDFC Flexi Cap Fund’s track record spans more than three decades and several market cycles. The fund has a time-tested philosophy rooted in research, with the aim of long-term wealth creation. We are grateful to every investor and distribution partner who has been with us on this journey, and we look forward to continuing it together for many years to come,” said Navneet Munot, Managing Director & Chief Executive Officer, HDFC Asset Management.

The fund has navigated multiple market cycles and outperformed the NIFTY 500 Index (TRI) in 21 of 31 calendar years. Its rolling return analysis further highlights the consistency of its long-term performance, with the fund delivering more than 10% CAGR in 96% of instances for investment periods exceeding 10 years, based on daily rolling returns since inception through August 31, 2026.

HDFC Flexi Cap Fund is currently managed by Amit Ganatra, who has been managing the scheme since February 1, 2026.

As of August 31, 2026, the fund had an AUM of Rs 1.13 lakh crore. The fund house has two other funds that have an AUM of over Rs 1 lakh crore. The other two funds are HDFC Mid Cap Fund and HDFC Balanced Advantage Fund, which had an AUM of Rs 1.08 lakh crore and Rs 1.07 lakh crore, respectively.

In the flexicap category, the largest fund is Parag Parikh Flexi Cap Fund, with an AUM of Rs 1.47 lakh crore as of August 31, 2026.

HDFC Flexi Cap Fund is an open-ended dynamic equity scheme investing across largecap, midcap and smallcap stocks. The performance of the fund is benchmarked against the NIFTY 500 Index (TRI) and is managed by Amit Ganatra and Dhruv Muchhal.

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The top stock holdings of the fund were ICICI Bank, Axis Bank, HDFC Bank and SBI, where the allocation ranged between 4.16% and 9.19%. Around 70% of the portfolio is in largecap, while the fund holds 14.9% and 9.62% in midcap and smallcap stocks, respectively.

Since its inception, the fund has delivered a return of 18.12%. In the last three years, the fund gave 14.09% returns, and in the last five years, the fund gained 15.24%.

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