Morningstar Investment's Kaustubh Belapurkar discusses the changing context of AUM and the impact on fund size. Funds managing over Rs 50,000 crore are now common, but the overall market has also grown. Belapurkar lists popular funds with high AUM, such as the HDFC Balanced Advantage Fund and the SBI Equity Hybrid Fund. He emphasizes the importance of considering the growth of the market and individual fund strategies when evaluating AUM.