India mutual fund monitor
November 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 Nov 2023 SIP not published for Nov 2023 NFO Nov 2023 Fund-house assets Jul–Sep 2023 (quarterly) Holdings Nov 2023
AMFI monthly report, Nov 2023. Total net flow covers all schemes; the asset-class figures are open-ended schemes. +2.08 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 +15,536 Cr
- Debt -4,707 Cr
- Hybrid +13,538 Cr
- Index funds & ETFs +2,520 Cr
- Overseas fund of funds -286 Cr
- Solution oriented +185 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +15,536 | +19,957 | +49,585 | +151,884 |
| Debt | -4,707 | +42,634 | -63,585 | +7,521 |
| Hybrid | +13,538 | +9,907 | +42,095 | +80,454 |
| Index funds & ETFs | +2,520 | +7,699 | +15,319 | +88,099 |
| Overseas fund of funds | -286 | +46.80 | -619 | -1,870 |
| Solution oriented | +185 | +343 | +696 | +2,172 |
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 · Nov 2023
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| ArbitrageHybrid | +9,404 | +8.38% | +25,103 | +49,227 |
| Small CapEquity | +3,699 | +1.85% | +10,873 | +39,423 |
| Mid CapEquity | +2,666 | +1.10% | +7,076 | +23,482 |
| Multi Asset AllocationHybrid | +2,589 | +5.91% | +11,324 | +21,706 |
| Sectoral / Thematic (combined)Equity | +1,965 | +0.90% | +9,007 | +24,632 |
| Large & Mid CapEquity | +1,847 | +1.16% | +4,916 | +17,736 |
| Multi CapEquity | +1,713 | +1.82% | +6,858 | +18,970 |
| Flexi CapEquity | +1,668 | +0.58% | +5,190 | +10,934 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| Ultra Short TermDebt | -1,866 | -1.96% | -4,675 | +1,220 |
| Corporate BondDebt | -1,578 | -1.13% | -2,098 | +14,773 |
| Ultra Short to Short TermDebt | -968 | -0.92% | -3,072 | +4,754 |
| LiquidDebt | -645 | -0.16% | -41,857 | -23,957 |
| OvernightDebt | -484 | -0.61% | -5,204 | -31,101 |
| Short TermDebt | -414 | -0.41% | -693 | -390 |
| Fund of Funds investing overseasFof Overseas | -286 | -1.34% | -619 | -1,870 |
| Medium TermDebt | -280 | -1.05% | -1,093 | -2,894 |
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: Jul–Sep 2023 quarter. AMFI publishes fund-house assets as quarterly averages. This is the latest quarter that had ended by Nov 2023; it is not a November 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 | 8.27 lakh Cr | 17.60% | -0.09 pp | 1 |
| ICICI Prudential Mutual Fund | 5.82 lakh Cr | 12.38% | +0.05 pp | 2 |
| HDFC Mutual Fund | 5.25 lakh Cr | 11.17% | -0.11 pp | 3 |
| Nippon India Mutual Fund | 3.51 lakh Cr | 7.46% | +0.18 pp | 4 |
| Kotak Mahindra Mutual Fund | 3.34 lakh Cr | 7.10% | -0.09 pp | 5 |
| Aditya Birla Sun Life Mutual Fund | 3.11 lakh Cr | 6.62% | -0.27 pp | 6 |
| UTI Mutual Fund | 2.67 lakh Cr | 5.68% | -0.08 pp | 7was 8 |
| Axis Mutual Fund | 2.60 lakh Cr | 5.53% | -0.23 pp | 8was 7 |
| Mirae Asset Mutual Fund | 1.39 lakh Cr | 2.96% | +0.11 pp | 9 |
| DSP Mutual Fund | 1.30 lakh Cr | 2.77% | +0.04 pp | 10was 11 |
Biggest share gainers · quarter
- Nippon India Mutual Fund+0.18 pp
- Tata Mutual Fund+0.14 pp
- quant Mutual Fund+0.13 pp
- Mirae Asset Mutual Fund+0.11 pp
- LIC Mutual Fund+0.09 pp
Biggest share decliners · quarter
- Aditya Birla Sun Life Mutual Fund-0.27 pp
- Axis Mutual Fund-0.23 pp
- HDFC Mutual Fund-0.11 pp
- SBI Mutual Fund-0.09 pp
- Bandhan Mutual Fund-0.09 pp
Rank changes among the top 30
- Bandhan Mutual Fund10 → 12
- NJ Mutual Fund28 → 30
- UTI Mutual Fund8 → 7
- Axis Mutual Fund7 → 8
- DSP Mutual Fund11 → 10
- Tata Mutual Fund12 → 11
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
16.18 Cr
+21.68 L on the month · +15.8% 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 · Nov 2023
14new schemes allotted
2,583 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 | 3 | 1,315 Cr | — |
| Flexi Cap Fund | 1 | 551 Cr | — |
| Fixed Term Plan | 2 | 447 Cr | — |
| Arbitrage Fund | 1 | 96.00 Cr | — |
| Index Funds | 2 | 96.00 Cr | — |
| Banking and PSU Fund | 1 | 27.00 Cr | — |
| Small Cap Fund | 1 | 24.00 Cr | — |
| ELSS | 1 | 17.00 Cr | — |
| GOLD ETFs | 1 | 5.00 Cr | — |
| Other ETFs | 1 | 5.00 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 · Nov 2023
969companies held
23AMCs reporting
838new positions
693complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 Hindalco Industries Limited122 comparable portfolios 14
- 02 Aurobindo Pharma Limited73 comparable portfolios 14
- 03 Nestle India Limited111 comparable portfolios 14
- 04 HDFC Bank Limited274 comparable portfolios 14
- 05 Zydus Lifesciences Limited67 comparable portfolios 13
- 06 Larsen & Toubro Limited214 comparable portfolios 13
- 07 ITC Limited180 comparable portfolios 13
- 08 HCL Technologies Limited149 comparable portfolios 13
- 09 Reliance Industries Limited240 comparable portfolios 13
- 10 Petronet LNG Limited38 comparable portfolios 12
Most AMCs reducing
↗CompanyAMCs
- 01 The Indian Hotels Company Limited92 comparable portfolios 12
- 02 Persistent Systems Limited90 comparable portfolios 11
- 03 IndusInd Bank Limited155 comparable portfolios 11
- 04 Axis Bank Limited217 comparable portfolios 11
- 05 BIRLASOFT LIMITED37 comparable portfolios 9
- 06 Polycab India Limited85 comparable portfolios 9
- 07 Bajaj Finserv Limited87 comparable portfolios 9
- 08 Coal India Limited104 comparable portfolios 9
- 09 ICICI Bank Limited280 comparable portfolios 9
- 10 Mahanagar Gas Limited28 comparable portfolios 8
Largest comparable holding increases
↗CompanyShares
- 01 Vodafone Idea Limited+18.8% · 21 portfolios +12.82 Cr
- 02 Indian Renewable Energy Development Agency Limited— · 15 portfolios +6.08 Cr
- 03 Petronet LNG Limited+147.7% · 38 portfolios +4.18 Cr
- 04 GAIL (India) Limited+12.1% · 90 portfolios +3.92 Cr
- 05 ETERNAL LIMITED+7.4% · 101 portfolios +3.45 Cr
- 06 Jio Financial Services Limited+11.5% · 85 portfolios +2.39 Cr
- 07 Indian Energy Exchange Limited+30.0% · 29 portfolios +2.18 Cr
- 08 Power Grid Corporation of India Limited+2.8% · 115 portfolios +1.88 Cr
- 09 National Aluminium Company Limited+18.1% · 28 portfolios +1.59 Cr
- 10 Aptus Value Housing Finance India Limited+221.0% · 11 portfolios +1.52 Cr
Largest comparable holding decreases
↗CompanyShares
- 01 Suzlon Energy Limited-52.6% · 25 portfolios -12.77 Cr
- 02 Bank of Baroda-16.7% · 109 portfolios -2.68 Cr
- 03 Indian Oil Corporation Limited-11.5% · 55 portfolios -1.90 Cr
- 04 Coal India Limited-4.0% · 104 portfolios -1.51 Cr
- 05 State Bank of India-2.8% · 235 portfolios -1.46 Cr
- 06 The Federal Bank Limited-2.6% · 106 portfolios -97.47 L
- 07 Manappuram Finance Limited-13.2% · 36 portfolios -80.48 L
- 08 Samvardhana Motherson International Limited-2.0% · 84 portfolios -80.09 L
- 09 The Indian Hotels Company Limited-7.0% · 92 portfolios -76.66 L
- 10 HDFC Bank Limited-0.9% · 274 portfolios -65.04 L
Most new positions
↗CompanyPositions
- 01 Tata Technologies Limited23 comparable portfolios 23
- 02 Hindustan Petroleum Corporation Limited71 comparable portfolios 15
- 03 Indian Renewable Energy Development Agency Limited15 comparable portfolios 15
- 04 Lupin Limited76 comparable portfolios 15
- 05 Flair Writing Industries Limited13 comparable portfolios 13
- 06 Bajaj Finance Limited158 comparable portfolios 13
- 07 Container Corporation of India Limited82 comparable portfolios 11
- 08 CG Power and Industrial Solutions Limited44 comparable portfolios 10
- 09 Hero MotoCorp Limited110 comparable portfolios 10
- 10 Shriram Finance Limited83 comparable portfolios 10
Most complete exits
↗CompanyExits
- 01 Tata Communications Limited43 comparable portfolios 14
- 02 Mahindra & Mahindra Limited152 comparable portfolios 13
- 03 Bharat Forge Limited77 comparable portfolios 10
- 04 Maruti Suzuki India Limited180 comparable portfolios 10
- 05 SBI Cards and Payment Services Limited67 comparable portfolios 9
- 06 IndusInd Bank Limited155 comparable portfolios 9
- 07 Polycab India Limited85 comparable portfolios 9
- 08 Persistent Systems Limited90 comparable portfolios 8
- 09 DLF Limited99 comparable portfolios 8
- 10 SBFC Finance Limited23 comparable portfolios 8
Most widely held stocks
CompanyAMCs
- 01 Maruti Suzuki India Limited203 portfolios 22
- 02 IndusInd Bank Limited179 portfolios 22
- 03 Bharat Electronics Limited152 portfolios 22
- 04 ICICI Bank Limited319 portfolios 21
- 05 HDFC Bank Limited312 portfolios 21
- 06 Reliance Industries Limited261 portfolios 21
- 07 State Bank of India256 portfolios 21
- 08 Axis Bank Limited251 portfolios 21
- 09 Larsen & Toubro Limited237 portfolios 21
- 10 Tata Consultancy Services Limited185 portfolios 21
Broader ownership
↗CompanyΔ AMCs
- 01 Hindustan Petroleum Corporation Limited20 AMCs now +4
- 02 Atul Limited11 AMCs now +4
- 03 Steel Authority of India Limited16 AMCs now +4
- 04 GlaxoSmithKline Pharmaceuticals Limited11 AMCs now +4
- 05 Indian Oil Corporation Limited20 AMCs now +4
- 06 Aurobindo Pharma Limited18 AMCs now +4
- 07 Sun TV Network Limited13 AMCs now +4
- 08 Aarti Industries Limited13 AMCs now +4
- 09 Oracle Financial Services Software Limited16 AMCs now +4
- 10 Dalmia Bharat Limited17 AMCs now +3
Narrower ownership
↗CompanyΔ AMCs
- 01 Tata Communications Limited12 AMCs now -3
- 02 Mishra Dhatu Nigam Limited3 AMCs now -2
- 03 Aether Industries Limited6 AMCs now -2
- 04 Welspun Living Limited5 AMCs now -2
- 05 Kalyan Jewellers India Limited8 AMCs now -2
- 06 Global Health Limited9 AMCs now -2
- 07 Chemplast Sanmar Limited5 AMCs now -2
- 08 Zensar Technologies Limited7 AMCs now -2
- 09 NMDC Limited13 AMCs now -2
- 10 Craftsman Automation Limited11 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 | Nov 2023 | Monthly | Aug 2026 |
| SIP contribution & assets | Not published for this period | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | Nov 2023 | Monthly | Aug 2026 |
| Fund-house assets & market share | Jul–Sep 2023 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | Nov 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 →