New Delhi, July 2 -- India's biggest mutual fund schemes manage several lakh crores of investors' money. The country's biggest scheme by assets under management (AUM), Parag Parikh Flexi Cap Fund, manages over Rs.1.41 lakh crore, followed by HDFC Balanced Advantage Fund.

But does the biggest fund also deliver the best returns? Here's a look at how the top five mutual funds by AUM have performed over the past one, three, and five years.

Assets Under Management (AUM) refers to the total market value of the investments managed by a mutual fund scheme. A higher AUM generally reflects a larger investor base and the fund's popularity.

Here is the list of the top 5 funds by AUM.

Parag Parikh Flexi Cap Fund is the country's largest mutual fun...