New Delhi, July 28 -- As market leadership continues to shift between equities, gold and debt, investors are increasingly turning to multi-asset allocation funds to diversify their portfolios.

Multi-asset allocation funds have emerged as the top net-selling category among hybrid funds over the last 12 months, attracting Rs.70,819 crore in net inflows. The category also recorded strong inflows of Rs.4,811 crore in June alone, highlighting sustained investor interest.

Under SEBI's categorisation norms, multi-asset allocation funds must invest at least 10% of their assets each in a minimum of three asset classes. These can include equities, debt, gold, silver, REITs, and InvITs.

Devender Singhal, Senior Fund Manager at Kotak Mutual Fund, ...