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One scheme no longer fits all: Sebi plans split routine as funds bulk up 7x

Watchdog flexes clone-and-cap fix as AUM bloat strains category limits

Parag Parikh Flexi Cap, HDFC Balanced Advantage, Sebi, Mutual fund schemes, Equity markets, stock markets
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Sebi’s proposal acknowledges a practical challenge: the larger a fund becomes, the harder it is to trade mid and smallcap stocks without moving the market | Imaging: Ajaya Mohanty

Abhishek Kumar Mumbai

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Actively managed mutual fund schemes with assets over ₹50,000 crore have jumped from just two in March 2023 to 14 by June 2025 — a sevenfold leap.
 
Powering this growth are buoyant equity markets and a steady stream of fresh inflows. Parag Parikh Flexi Cap and HDFC Balanced Advantage (BAF) now sit above the ₹1 trillion mark.
 
In March 2023, only two schemes — HDFC BAF and SBI Equity Hybrid — had assets under management (AUM) of ₹50,000 crore.
 
That ‘mega’ club is likely to swell further, with several more funds closing in on the ₹50,000 crore AUM line. As