Hybrid mutual funds from SBI, HDFC, and ICICI have emerged as top performers in 2025, attracting investors seeking a balance between growth and stability. While equity fund inflows moderated, investors preferred hybrid schemes combining debt and equity to manage volatility. The funds saw significant asset accumulation driven by SIP contributions and domestic retail participation. Analysts suggest the trend reflects increased risk awareness and the desire for steady returns amid market uncertainties, including global rate pressures and domestic economic growth expectations.