India mutual fund monitor
July 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 Jul 2023 SIP not published for Jul 2023 NFO Jul 2023 Fund-house assets Apr–Jun 2023 (quarterly) Holdings Jul 2023
AMFI monthly report, Jul 2023. Total net flow covers all schemes; the asset-class figures are open-ended schemes. +1.16 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 +7,626 Cr
- Debt +61,440 Cr
- Hybrid +12,421 Cr
- Index funds & ETFs +1,282 Cr
- Overseas fund of funds -423 Cr
- Solution oriented +121 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +7,626 | +8,637 | +19,504 | +113,922 |
| Debt | +61,440 | -14,136 | +93,264 | +81,621 |
| Hybrid | +12,421 | +4,611 | +23,125 | +2,691 |
| Index funds & ETFs | +1,282 | +2,567 | +8,585 | +116,937 |
| Overseas fund of funds | -423 | -510 | -1,181 | -596 |
| Solution oriented | +121 | +126 | +346 | +1,856 |
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 · Jul 2023
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| LiquidDebt | +51,938 | +12.38% | +68,627 | +88,211 |
| ArbitrageHybrid | +10,075 | +12.50% | +20,080 | -4,474 |
| Money MarketDebt | +8,608 | +6.15% | +24,166 | +29,350 |
| Ultra Short to Short TermDebt | +7,027 | +7.10% | +12,132 | +893 |
| Small CapEquity | +4,171 | +2.48% | +12,926 | +30,331 |
| Ultra Short TermDebt | +2,865 | +2.95% | +8,564 | +3,909 |
| Multi CapEquity | +2,500 | +3.19% | +3,340 | +10,867 |
| Floating Interest RatesDebt | +2,000 | +3.44% | +1,470 | -9,829 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| OvernightDebt | -10,747 | -12.04% | -25,029 | -51,767 |
| Large CapEquity | -1,880 | -0.72% | -5,292 | -3,832 |
| Banking and PSU DebtDebt | -1,310 | -1.60% | -1,986 | -7,433 |
| FocusedEquity | -1,067 | -0.97% | -3,029 | -1,593 |
| Flexi CapEquity | -932 | -0.34% | -1,317 | +7,654 |
| ELSS (Tax Saver)Equity | -592 | -0.35% | -1,571 | +4,212 |
| Fund of Funds investing overseasFof Overseas | -423 | -1.77% | -1,181 | -596 |
| Other ETFs (single category)Passive | -353 | -0.07% | +7,573 | +46,177 |
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: Apr–Jun 2023 quarter. AMFI publishes fund-house assets as quarterly averages. This is the latest quarter that had ended by Jul 2023; it is not a July 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 | 7.62 lakh Cr | 17.69% | -0.02 pp | 1 |
| ICICI Prudential Mutual Fund | 5.31 lakh Cr | 12.33% | -0.01 pp | 2 |
| HDFC Mutual Fund | 4.86 lakh Cr | 11.27% | +0.17 pp | 3 |
| Nippon India Mutual Fund | 3.14 lakh Cr | 7.28% | +0.04 pp | 4 |
| Kotak Mahindra Mutual Fund | 3.10 lakh Cr | 7.19% | +0.05 pp | 5 |
| Aditya Birla Sun Life Mutual Fund | 2.97 lakh Cr | 6.89% | +0.10 pp | 6 |
| Axis Mutual Fund | 2.48 lakh Cr | 5.76% | -0.20 pp | 7 |
| UTI Mutual Fund | 2.48 lakh Cr | 5.76% | -0.14 pp | 8 |
| Mirae Asset Mutual Fund | 1.23 lakh Cr | 2.85% | -0.02 pp | 9was 10 |
| Bandhan Mutual Fund | 1.18 lakh Cr | 2.74% | -0.14 pp | 10was 9 |
Biggest share gainers · quarter
- HDFC Mutual Fund+0.17 pp
- Tata Mutual Fund+0.15 pp
- Aditya Birla Sun Life Mutual Fund+0.10 pp
- quant Mutual Fund+0.08 pp
- PPFAS Mutual Fund+0.08 pp
Biggest share decliners · quarter
- Axis Mutual Fund-0.20 pp
- Bandhan Mutual Fund-0.14 pp
- UTI Mutual Fund-0.14 pp
- DSP Mutual Fund-0.10 pp
- Sundaram Mutual Fund-0.04 pp
Rank changes among the top 30
- Bank of India Mutual Fund31 → 29
- Mirae Asset Mutual Fund10 → 9
- Bandhan Mutual Fund9 → 10
- Tata Mutual Fund13 → 12
- Edelweiss Mutual Fund12 → 13
- Canara Robeco Mutual Fund16 → 15
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
15.14 Cr
+22.90 L on the month · +11.7% 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 · Jul 2023
17new schemes allotted
6,723 Crmobilised
Part of this month’s gross mobilisation — shown separately, never added to category net flow.
| Published category | Schemes | Mobilised | Schemes launched |
|---|---|---|---|
| Liquid Fund | 1 | 3,083 Cr | — |
| Sectoral/Thematic Funds | 4 | 1,540 Cr | — |
| Multi Cap Fund | 1 | 1,471 Cr | — |
| Overnight Fund | 2 | 303 Cr | — |
| Index Funds | 2 | 176 Cr | — |
| Other ETFs | 6 | 122 Cr | — |
| Money Market Fund | 1 | 28.00 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 · Jul 2023
937companies held
18AMCs reporting
1,364new positions
973complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 HDFC Bank Limited262 comparable portfolios 15
- 02 Jio Financial Services Limited196 comparable portfolios 14
- 03 Tata Steel Limited129 comparable portfolios 13
- 04 TATA CONSUMER PRODUCTS LIMITED86 comparable portfolios 12
- 05 Adani Ports and Special Economic Zone Limited55 comparable portfolios 11
- 06 REC Limited42 comparable portfolios 11
- 07 State Bank of India220 comparable portfolios 11
- 08 IndusInd Bank Limited144 comparable portfolios 11
- 09 ITC Limited163 comparable portfolios 11
- 10 Kotak Mahindra Bank Limited146 comparable portfolios 11
Most AMCs reducing
↗CompanyAMCs
- 01 JSW Steel Limited69 comparable portfolios 11
- 02 UltraTech Cement Limited162 comparable portfolios 11
- 03 Power Finance Corporation Limited51 comparable portfolios 10
- 04 The Indian Hotels Company Limited77 comparable portfolios 9
- 05 Marico Limited58 comparable portfolios 9
- 06 Cummins India Limited76 comparable portfolios 9
- 07 Bajaj Finserv Limited82 comparable portfolios 9
- 08 Tata Motors Passenger Vehicles Limited137 comparable portfolios 9
- 09 Titan Company Limited118 comparable portfolios 9
- 10 Crompton Greaves Consumer Electricals Limited94 comparable portfolios 9
Largest comparable holding increases
↗CompanyShares
- 01 HDFC Bank Limited+51.3% · 262 portfolios +22.29 Cr
- 02 Jio Financial Services Limited— · 196 portfolios +21.06 Cr
- 03 Vodafone Idea Limited+38.2% · 13 portfolios +9.50 Cr
- 04 The Federal Bank Limited+22.5% · 86 portfolios +6.69 Cr
- 05 Tata Steel Limited+9.8% · 129 portfolios +6.01 Cr
- 06 Steel Authority of India Limited+31.5% · 33 portfolios +2.42 Cr
- 07 Bharat Heavy Electricals Limited+18.8% · 49 portfolios +2.41 Cr
- 08 REC Limited+63.3% · 42 portfolios +2.31 Cr
- 09 Coal India Limited+4.6% · 88 portfolios +1.73 Cr
- 10 Zee Entertainment Enterprises Limited+10.0% · 71 portfolios +1.40 Cr
Largest comparable holding decreases
↗CompanyShares
- 01 Housing Development Finance Corp.Lt-100.0% · 163 portfolios -13.50 Cr
- 02 NHPC Limited-7.6% · 34 portfolios -4.95 Cr
- 03 IDFC LIMITED-19.0% · 33 portfolios -2.32 Cr
- 04 Equitas Small Finance Bank Limited-5.7% · 42 portfolios -1.64 Cr
- 05 Oil & Natural Gas Corporation Limited-2.5% · 78 portfolios -1.19 Cr
- 06 RBL Bank Limited-24.4% · 36 portfolios -1.13 Cr
- 07 ETERNAL LIMITED-4.0% · 55 portfolios -92.10 L
- 08 ITC Limited-1.4% · 163 portfolios -90.09 L
- 09 Union Bank of India-22.1% · 10 portfolios -87.17 L
- 10 IDFC First Bank Limited-5.4% · 32 portfolios -78.96 L
Most new positions
↗CompanyPositions
- 01 Jio Financial Services Limited196 comparable portfolios 196
- 02 LTM Limited143 comparable portfolios 27
- 03 Tech Mahindra Limited140 comparable portfolios 19
- 04 JINDAL STEEL LIMITED78 comparable portfolios 17
- 05 REC Limited42 comparable portfolios 15
- 06 HDFC Bank Limited262 comparable portfolios 15
- 07 Aurobindo Pharma Limited58 comparable portfolios 15
- 08 JSW Steel Limited69 comparable portfolios 14
- 09 The Federal Bank Limited86 comparable portfolios 14
- 10 Dr. Reddy's Laboratories Limited96 comparable portfolios 13
Most complete exits
↗CompanyExits
- 01 Housing Development Finance Corp.Lt163 comparable portfolios 163
- 02 Eicher Motors Limited81 comparable portfolios 17
- 03 LTM Limited143 comparable portfolios 17
- 04 Hindalco Industries Limited118 comparable portfolios 13
- 05 Cipla Limited121 comparable portfolios 12
- 06 Bata India Limited30 comparable portfolios 12
- 07 Voltas Limited77 comparable portfolios 11
- 08 Crompton Greaves Consumer Electricals Limited94 comparable portfolios 11
- 09 JSW Steel Limited69 comparable portfolios 10
- 10 Navin Fluorine International Limited71 comparable portfolios 9
Most widely held stocks
CompanyAMCs
- 01 Tata Motors Passenger Vehicles Limited137 portfolios 18
- 02 HDFC Bank Limited276 portfolios 17
- 03 ICICI Bank Limited273 portfolios 17
- 04 Tata Consultancy Services Limited166 portfolios 17
- 05 Bajaj Finance Limited152 portfolios 17
- 06 Maruti Suzuki India Limited148 portfolios 17
- 07 HCL Technologies Limited146 portfolios 17
- 08 Tech Mahindra Limited144 portfolios 17
- 09 LTM Limited135 portfolios 17
- 10 Dr. Reddy's Laboratories Limited102 portfolios 17
Broader ownership
↗CompanyΔ AMCs
- 01 Bandhan Bank Limited12 AMCs now +4
- 02 Jyothy Labs Limited9 AMCs now +4
- 03 Cohance Lifesciences Limited11 AMCs now +3
- 04 Kirloskar Oil Engines Limited7 AMCs now +3
- 05 Finolex Industries Limited10 AMCs now +3
- 06 The Ramco Cements Limited12 AMCs now +3
- 07 Bayer Cropscience Limited8 AMCs now +3
- 08 Berger Paints (I) Limited12 AMCs now +3
- 09 V-Mart Retail Limited8 AMCs now +3
- 10 Lodha Developers Limited8 AMCs now +3
Narrower ownership
↗CompanyΔ AMCs
- 01 Housing Development Finance Corp.Lt1 AMCs now -15
- 02 Sun TV Network Limited7 AMCs now -3
- 03 Bata India Limited8 AMCs now -2
- 04 Intellect Design Arena Limited5 AMCs now -2
- 05 Aditya Birla Capital Limited9 AMCs now -2
- 06 Reliance Industries Limited16 AMCs now -1
- 07 JSW Steel Limited15 AMCs now -1
- 08 Dodla Dairy Limited3 AMCs now -1
- 09 Indian Energy Exchange Limited11 AMCs now -1
- 10 Grasim Industries Limited15 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 | Jul 2023 | Monthly | Aug 2026 |
| SIP contribution & assets | Not published for this period | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | Jul 2023 | Monthly | Aug 2026 |
| Fund-house assets & market share | Apr–Jun 2023 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | Jul 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 →