Can hybrid aggressive funds invest in large, mid and small cap stocks

Yes, you are right, Aggressive Hybrid Funds can invest 65% to 80% in equities and 20% to 35% in debt instruments. These funds were earlier known as Balanced Funds and you can read our blog on this https://www.advisorkhoj.com/rmf...

As per SEBI guidelines, these schemes can invest predominantly in equity or equity related instruments. There is no such restriction for these schemes to invest in large, mid and small cap stocks. Therefore, it is the discretion of the fund manager to choose stocks across various market caps as per his/her choice/ research. However, as mentioned by you, the fund manager cannot invest in large, mid or small cap funds as this is not allowed. Only a fund-of-fund can invest in mutual fund schemes of their own AMC as well as others.

Hope the above is helpful. In case you want to invest in good Hybrid Aggressive Funds you may refer to our research of most consistent performing funds https://www.advisorkhoj.com/mutual-funds-research...