Midcap and smallcap funds were preferred by investors according to data shared by Motilal Oswal Financial. Seven top schemes in assets under management revealed the highest increase in AUM on a month-on-month basis in May. HDFC Smallcap Fund led the pack, with a nearly 7% change in the net asset value. Despite earning growth concerns, shares of Tata Elxsi has given a 24% return to investors. Suzlon Energy has given 36% return, while Raymond has given approximately 12% return. Money managers remain confident with midcap and small cap funds, with funds flows continuing.