Fund categoriesSep 2026

Mutual fund categories

Pick a category to see the stocks its schemes hold most, what they bought and sold, and every scheme in it. Each rule is SEBI's, from its categorisation circular of 6 Oct 2017, as amended; large cap = the 100 largest listed companies, mid cap the next 150, small cap the rest.

Equity

schemes with a portfolio · fund houses

Category	SEBI's rule	Schemes	Fund houses
Contra funds	At least 65 % in equity, following a contrarian investing strategy. A fund house may run a value or a contra fund, not both.	5	5
Dividend yield funds	At least 65 % in equity, mostly in dividend-paying stocks.	12	12
ELSS (tax saver) funds	At least 80 % in equity, with a three-year lock-in, under the Equity Linked Savings Scheme rules.	47	33
Flexi cap funds	At least 65 % in equity, in companies of any size.	40	40
Focused funds	At most 30 stocks, at least 65 % in equity.	24	24
Large & mid cap funds	At least 35 % in large cap and at least 35 % in mid cap stocks.	32	32
Large cap funds	At least 80 % in large cap stocks.	31	31
Mid cap funds	At least 65 % in mid cap stocks.	30	30
Multi cap funds	At least 75 % in equity, with at least 25 % each in large, mid and small cap stocks.	30	30
Sectoral or thematic funds	At least 80 % in the stocks of one sector or theme.	234	35
Small cap funds	At least 65 % in small cap stocks.	31	31
Value funds	At least 65 % in equity, following a value investing strategy. A fund house may run a value or a contra fund, not both.	20	20

Hybrid

schemes with a portfolio · fund houses

Category	SEBI's rule	Schemes	Fund houses
Aggressive hybrid funds	65 % to 80 % in equity, 20 % to 35 % in debt.	27	27
Arbitrage funds	Follows an arbitrage strategy, with at least 65 % in equity and equity-related instruments.	36	36
Balanced advantage or dynamic asset allocation funds	Equity and debt in a mix the fund manages up and down over time.	34	33
Balanced hybrid funds	40 % to 60 % in equity and 40 % to 60 % in debt, with no arbitrage.	5	5
Conservative hybrid funds	10 % to 25 % in equity, 75 % to 90 % in debt.	17	17
Equity savings funds	At least 65 % in equity and equity-related instruments and at least 10 % in debt.	22	22
Multi asset allocation funds	At least three asset classes, with at least 10 % in each.	31	31

Solution-oriented

schemes with a portfolio · fund houses

Category	SEBI's rule	Schemes	Fund houses
Children's funds	A lock-in of at least five years, or until the child comes of age if that comes first.	12	10
Life cycle funds	—	6	2
Retirement funds	A lock-in of at least five years, or until retirement age if that comes first.	27	13