India mutual fund monitor
May 2023
Flows, assets, SIPs, fund-house structure and equity ownership activity. Each dataset keeps its own period; the status at the foot of the page lists them.
Flows & AUM May 2023 SIP not published for May 2023 NFO May 2023 Fund-house assets Jan–Mar 2023 (quarterly) Holdings May 2023
AMFI monthly report, May 2023. Total net flow covers all schemes; the asset-class figures are open-ended schemes. +1.01 lakh Cr of the AUM change came from market movement and other effects, not investor money.
1 · Where money moved
Net flow by asset class · open-ended schemes · ₹ crore
- Equity +3,240 Cr
- Debt +45,959 Cr
- Hybrid +6,093 Cr
- Index funds & ETFs +4,736 Cr
- Overseas fund of funds -248 Cr
- Solution oriented +99.79 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +3,240 | +6,480 | +30,255 | +122,054 |
| Debt | +45,959 | +106,677 | +95,752 | -53,001 |
| Hybrid | +6,093 | +3,317 | -2,962 | -21,767 |
| Index funds & ETFs | +4,736 | +7,062 | +38,429 | +139,840 |
| Overseas fund of funds | -248 | -117 | -192 | +964 |
| Solution oriented | +99.79 | +194 | +517 | +1,858 |
3- and 12-month sums appear only where the series is unbroken; “—” means the window crosses a new classification.
2 · Category winners and losers
SEBI scheme categories · May 2023
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| LiquidDebt | +45,234 | +11.37% | +51,529 | +41,343 |
| Money MarketDebt | +8,731 | +7.11% | +11,270 | +8,427 |
| Ultra Short TermDebt | +7,585 | +8.40% | +7,967 | -3,399 |
| ArbitrageHybrid | +6,640 | +9.34% | -1,802 | -29,916 |
| Other ETFs (single category)Passive | +4,524 | +0.90% | +10,984 | +56,122 |
| Short TermDebt | +4,055 | +4.31% | +5,519 | -10,054 |
| Small CapEquity | +3,283 | +2.31% | +7,895 | +24,083 |
| Ultra Short to Short TermDebt | +1,747 | +1.88% | +1,031 | -18,670 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| OvernightDebt | -18,910 | -18.48% | -20,941 | -46,397 |
| Floating Interest RatesDebt | -2,378 | -4.15% | -2,167 | -25,436 |
| Large CapEquity | -1,362 | -0.56% | -398 | +3,319 |
| Aggressive / Balanced Hybrid (combined)Hybrid | -997 | -0.63% | -1,457 | +2,215 |
| FocusedEquity | -944 | -0.92% | -827 | +2,456 |
| Balanced Advantage / Dynamic Asset AllocationHybrid | -757 | -0.38% | -1,272 | -165 |
| ELSS (Tax Saver)Equity | -505 | -0.32% | +2,242 | +6,247 |
| Flexi CapEquity | -368 | -0.15% | +1,290 | +12,497 |
Investor money into and out of each category. It is not attributed to any stock.
3 · Fund-house market structure
Average AUM · quarterly
Fund-house data: Jan–Mar 2023 quarter. AMFI publishes fund-house assets as quarterly averages. This is the latest quarter that had ended by May 2023; it is not a May observation and nothing is interpolated. A later quarter (Apr–Jun 2026) is available on the AMC explorer.
| Fund house | Average AUM | Market share | Δ quarter | Rank |
|---|---|---|---|---|
| SBI Mutual Fund | 7.17 lakh Cr | 17.71% | +0.01 pp | 1 |
| ICICI Prudential Mutual Fund | 5.00 lakh Cr | 12.34% | +0.21 pp | 2 |
| HDFC Mutual Fund | 4.50 lakh Cr | 11.10% | +0.06 pp | 3 |
| Nippon India Mutual Fund | 2.93 lakh Cr | 7.24% | -0.03 pp | 4 |
| Kotak Mahindra Mutual Fund | 2.89 lakh Cr | 7.14% | +0.02 pp | 5 |
| Aditya Birla Sun Life Mutual Fund | 2.75 lakh Cr | 6.79% | -0.20 pp | 6 |
| Axis Mutual Fund | 2.41 lakh Cr | 5.96% | -0.21 pp | 7 |
| UTI Mutual Fund | 2.39 lakh Cr | 5.90% | -0.09 pp | 8 |
| Bandhan Mutual Fund | 1.17 lakh Cr | 2.89% | -0.07 pp | 9 |
| Mirae Asset Mutual Fund | 1.16 lakh Cr | 2.87% | +0.01 pp | 10was 11 |
Biggest share gainers · quarter
- ICICI Prudential Mutual Fund+0.21 pp
- Edelweiss Mutual Fund+0.17 pp
- quant Mutual Fund+0.09 pp
- Tata Mutual Fund+0.08 pp
- HDFC Mutual Fund+0.06 pp
Biggest share decliners · quarter
- Axis Mutual Fund-0.21 pp
- Aditya Birla Sun Life Mutual Fund-0.20 pp
- UTI Mutual Fund-0.09 pp
- HSBC Mutual Fund-0.07 pp
- Bandhan Mutual Fund-0.07 pp
Rank changes among the top 30
- Mirae Asset Mutual Fund11 → 10
- DSP Mutual Fund10 → 11
- Edelweiss Mutual Fund13 → 12
- Tata Mutual Fund12 → 13
- quant Mutual Fund24 → 23
- LIC Mutual Fund23 → 24
Official AMC-level net-flow data is not available from the validated source. AUM movement includes both investor flows and market movement.
4 · SIPs & retail participation
AMFI Monthly Note (SIP) and monthly report (folios)
SIP contribution
—Not published for this period
SIP contribution · 12 months
—Not published for this period
SIP assets
—Not published for this period
Contributing SIP accounts
—Not published for this period
Folios
14.74 Cr
+9.59 L on the month · +10.5% on a year ago
SIP contribution is published from June 2024 and SIP assets from January 2024; contributing accounts from September 2024. Earlier months show “Not published for this period”, never zero.
5 · New fund offers
New Schemes sheet of the AMFI monthly report · May 2023
5new schemes allotted
483 Crmobilised
Part of this month’s gross mobilisation — shown separately, never added to category net flow.
| Published category | Schemes | Mobilised | Schemes launched |
|---|---|---|---|
| Sectoral/Thematic Funds | 1 | 174 Cr | — |
| Index Funds | 2 | 142 Cr | — |
| Fixed Term Plan | 1 | 103 Cr | — |
| Multi Asset Allocation Fund | 1 | 64.00 Cr | — |
Ordered by amount mobilised in each category. AMFI prints NFO amounts by category, so the largest NFOs are shown as the largest categories with their scheme names.
6 · Equity ownership activity
Disclosed holdings · like-for-like portfolios · May 2023
837companies held
19AMCs reporting
740new positions
890complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 Housing Development Finance Corp.Lt162 comparable portfolios 14
- 02 Hindustan Unilever Limited167 comparable portfolios 11
- 03 Piramal Enterprises Limited23 comparable portfolios 10
- 04 Mankind Pharma Limited42 comparable portfolios 10
- 05 Hero MotoCorp Limited72 comparable portfolios 10
- 06 Zee Entertainment Enterprises Limited58 comparable portfolios 10
- 07 Muthoot Finance Limited45 comparable portfolios 10
- 08 JSW Steel Limited56 comparable portfolios 10
- 09 Kajaria Ceramics Limited54 comparable portfolios 10
- 10 Bharat Petroleum Corporation Limited80 comparable portfolios 10
Most AMCs reducing
↗CompanyAMCs
- 01 Siemens Limited81 comparable portfolios 11
- 02 Torrent Pharmaceuticals Limited62 comparable portfolios 11
- 03 ITC Limited162 comparable portfolios 11
- 04 Kotak Mahindra Bank Limited147 comparable portfolios 11
- 05 Maruti Suzuki India Limited136 comparable portfolios 11
- 06 ICICI Bank Limited245 comparable portfolios 11
- 07 ABB India Limited80 comparable portfolios 10
- 08 The Indian Hotels Company Limited84 comparable portfolios 10
- 09 Varun Beverages Limited55 comparable portfolios 10
- 10 HDFC Bank Limited226 comparable portfolios 10
Largest comparable holding increases
↗CompanyShares
- 01 Vodafone Idea Limited+37.6% · 14 portfolios +6.37 Cr
- 02 ETERNAL LIMITED+26.1% · 44 portfolios +6.24 Cr
- 03 Punjab National Bank+10.7% · 40 portfolios +2.39 Cr
- 04 IDFC First Bank Limited+16.2% · 41 portfolios +2.19 Cr
- 05 HDFC Life Insurance Company Limited+35.0% · 82 portfolios +1.77 Cr
- 06 Indus Towers Limited+244.8% · 31 portfolios +1.52 Cr
- 07 Zee Entertainment Enterprises Limited+12.1% · 58 portfolios +1.47 Cr
- 08 NMDC Limited+13.5% · 39 portfolios +1.31 Cr
- 09 Samvardhana Motherson International Limited+4.0% · 61 portfolios +1.29 Cr
- 10 Engineers India Limited+31.9% · 13 portfolios +1.27 Cr
Largest comparable holding decreases
↗CompanyShares
- 01 Max Healthcare Institute Limited-44.9% · 48 portfolios -3.48 Cr
- 02 The Indian Hotels Company Limited-12.7% · 84 portfolios -1.63 Cr
- 03 Manappuram Finance Limited-22.3% · 24 portfolios -1.56 Cr
- 04 Power Grid Corporation of India Limited-2.8% · 101 portfolios -1.30 Cr
- 05 Steel Authority of India Limited-11.1% · 35 portfolios -1.03 Cr
- 06 HDFC Bank Limited-2.4% · 226 portfolios -94.95 L
- 07 Kotak Mahindra Bank Limited-7.4% · 147 portfolios -76.46 L
- 08 Axis Bank Limited-2.4% · 214 portfolios -76.07 L
- 09 CESC Limited-7.8% · 15 portfolios -70.22 L
- 10 Bharat Heavy Electricals Limited-5.0% · 45 portfolios -64.56 L
Most new positions
↗CompanyPositions
- 01 Mankind Pharma Limited42 comparable portfolios 24
- 02 Vedant Fashions Limited52 comparable portfolios 18
- 03 Dixon Technologies (India) Limited61 comparable portfolios 13
- 04 HDFC Life Insurance Company Limited82 comparable portfolios 12
- 05 Kajaria Ceramics Limited54 comparable portfolios 11
- 06 Bharat Forge Limited73 comparable portfolios 11
- 07 CIE Automotive India Limited35 comparable portfolios 10
- 08 Voltas Limited64 comparable portfolios 9
- 09 Muthoot Finance Limited45 comparable portfolios 9
- 10 Coforge Limited69 comparable portfolios 9
Most complete exits
↗CompanyExits
- 01 Gland Pharma Limited55 comparable portfolios 17
- 02 Tata Chemicals Limited35 comparable portfolios 16
- 03 Kotak Mahindra Bank Limited147 comparable portfolios 15
- 04 Torrent Pharmaceuticals Limited62 comparable portfolios 15
- 05 Page Industries Limited86 comparable portfolios 14
- 06 Bharti Airtel Limited181 comparable portfolios 12
- 07 Cipla Limited122 comparable portfolios 11
- 08 Siemens Limited81 comparable portfolios 10
- 09 SBI Life Insurance Company Limited115 comparable portfolios 10
- 10 Sumitomo Chemical India Limited31 comparable portfolios 10
Most widely held stocks
CompanyAMCs
- 01 Infosys Limited256 portfolios 18
- 02 Reliance Industries Limited241 portfolios 18
- 03 Hindustan Unilever Limited183 portfolios 18
- 04 ITC Limited177 portfolios 18
- 05 Tata Consultancy Services Limited164 portfolios 18
- 06 Bajaj Finance Limited147 portfolios 18
- 07 Power Grid Corporation of India Limited111 portfolios 18
- 08 Dr. Reddy's Laboratories Limited94 portfolios 18
- 09 ICICI Bank Limited276 portfolios 17
- 10 HDFC Bank Limited268 portfolios 17
Broader ownership
↗CompanyΔ AMCs
- 01 Mankind Pharma Limited14 AMCs now +8
- 02 Indraprastha Gas Limited14 AMCs now +5
- 03 Zydus Lifesciences Limited14 AMCs now +4
- 04 JSW Steel Limited16 AMCs now +4
- 05 Hindalco Industries Limited17 AMCs now +4
- 06 Escorts Kubota Limited12 AMCs now +4
- 07 SHREE CEMENT LIMITED12 AMCs now +4
- 08 Kajaria Ceramics Limited14 AMCs now +4
- 09 Bharat Forge Limited15 AMCs now +4
- 10 Mahindra & Mahindra Financial Services Limited9 AMCs now +4
Narrower ownership
↗CompanyΔ AMCs
- 01 Tata Chemicals Limited8 AMCs now -4
- 02 Page Industries Limited12 AMCs now -2
- 03 Hindustan Aeronautics Limited14 AMCs now -1
- 04 Gland Pharma Limited6 AMCs now -1
- 05 Chambal Fertilizers & Chemicals Limited7 AMCs now -1
- 06 IDFC First Bank Limited8 AMCs now -1
- 07 Vinati Organics Limited10 AMCs now -1
- 08 360 ONE WAM LIMITED6 AMCs now -1
- 09 Hindustan Copper Limited9 AMCs now -1
- 10 Computer Age Management Services Limited6 AMCs now -1
Comparable lists need at least 10 portfolios observed in both months and exclude companies under corporate-action review. Share changes are quantities, not cash flows, and category flows are never attributed to these stocks.
7 · Data status
What each figure on this page refers to
| Dataset | Period on this page | Frequency | Latest available |
|---|---|---|---|
| Flows, AUM, folios | May 2023 | Monthly | Aug 2026 |
| SIP contribution & assets | Not published for this period | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | May 2023 | Monthly | Aug 2026 |
| Fund-house assets & market share | Jan–Mar 2023 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | May 2023 | Monthly disclosures | Aug 2026 |
Known limitations: no official net flow exists by fund house; fund-house figures are quarterly averages; SIP history starts in 2024; category flows cannot be attributed to stocks. Methodology →