Aims There are abundant epiphytic lichens in the tropical and subtropical montane forest ecosystems, which are important components of forest canopy and play a vital role in biodiversity conservation, environmental monitoring and nutrient cycling.In accordance with photobiont type, growth form and reproductive strategy, the epiphytic lichens can be divided into different functional groups, with different distribution patterns.In this study we aim to explain this phenomenon from the perspective of physiological ecology.Methods The maximum water content, water loss curves, photosynthetic water and light response curves were determined in four epiphytic lichen functional groups, including cyanolichens, fruticose lichens, broadly lobed foliose lichens and narrowly lobed foliose lichens.Important findings The functional characteristics of epiphytic lichens influence their maximum water-holding capacity and rate of water loss.The cyanolichens have higher maximum water content, while the fruticose lichens have a faster water loss.The cyanolichens that are widely distributed in the moist habitats require particularly high moisture for their photosynthetic activities; their optimal water content for photosynthesis is higher in comparison with other groups.They also have a low light compensation point and a high light saturation point, which explain the wide range of light intensity of the habitat.The fruticose lichens, widely distributed in the relatively arid habitats with high irradiance, have high light compensation point and light saturation point, and low optimum water 胡涛等: 哀牢山山地森林不同附生地衣功能群的水分关系和光合生理特征 811