India mutual fund monitor
December 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 Dec 2023 SIP not published for Dec 2023 NFO Dec 2023 Fund-house assets Oct–Dec 2023 (quarterly) Holdings Dec 2023
AMFI monthly report, Dec 2023. Total net flow covers all schemes; the asset-class figures are open-ended schemes. +2.14 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 +16,997 Cr
- Debt -75,560 Cr
- Hybrid +15,009 Cr
- Index funds & ETFs +992 Cr
- Overseas fund of funds -419 Cr
- Solution oriented +220 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +16,997 | +15,536 | +52,491 | +161,578 |
| Debt | -75,560 | -4,707 | -37,633 | -46,092 |
| Hybrid | +15,009 | +13,538 | +38,454 | +93,208 |
| Index funds & ETFs | +992 | +2,520 | +11,211 | +73,839 |
| Overseas fund of funds | -419 | -286 | -658 | -2,435 |
| Solution oriented | +220 | +185 | +748 | +2,229 |
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 · Dec 2023
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| ArbitrageHybrid | +10,645 | +8.61% | +25,573 | +58,989 |
| Sectoral / Thematic (combined)Equity | +6,005 | +2.53% | +11,866 | +30,841 |
| Small CapEquity | +3,858 | +1.75% | +12,052 | +41,035 |
| Multi Asset AllocationHybrid | +2,420 | +4.98% | +7,420 | +22,415 |
| Large & Mid CapEquity | +2,339 | +1.35% | +5,920 | +18,885 |
| Multi CapEquity | +1,852 | +1.80% | +6,476 | +20,146 |
| Mid CapEquity | +1,393 | +0.53% | +6,468 | +22,913 |
| Balanced Advantage / Dynamic Asset AllocationHybrid | +1,369 | +0.62% | +2,920 | +5,802 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| LiquidDebt | -39,675 | -9.55% | -7,356 | -49,780 |
| Ultra Short to Short TermDebt | -9,432 | -8.95% | -11,541 | -4,275 |
| Money MarketDebt | -8,384 | -5.55% | -1,270 | +22,287 |
| Floating Interest RatesDebt | -6,171 | -10.16% | -4,925 | -8,924 |
| Ultra Short TermDebt | -6,030 | -6.42% | -5,536 | -6,547 |
| OvernightDebt | -4,865 | -6.14% | -8,794 | -34,712 |
| Banking and PSU DebtDebt | -661 | -0.82% | -675 | +211 |
| FocusedEquity | -491 | -0.41% | +193 | -2,718 |
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: Oct–Dec 2023 quarter. AMFI publishes fund-house assets as quarterly averages. This is the latest quarter that had ended by Dec 2023; it is not a December 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 | 8.51 lakh Cr | 17.28% | -0.32 pp | 1 |
| ICICI Prudential Mutual Fund | 6.15 lakh Cr | 12.48% | +0.11 pp | 2 |
| HDFC Mutual Fund | 5.52 lakh Cr | 11.20% | +0.04 pp | 3 |
| Nippon India Mutual Fund | 3.78 lakh Cr | 7.67% | +0.21 pp | 4 |
| Kotak Mahindra Mutual Fund | 3.51 lakh Cr | 7.13% | +0.03 pp | 5 |
| Aditya Birla Sun Life Mutual Fund | 3.12 lakh Cr | 6.33% | -0.29 pp | 6 |
| UTI Mutual Fund | 2.73 lakh Cr | 5.54% | -0.13 pp | 7 |
| Axis Mutual Fund | 2.62 lakh Cr | 5.33% | -0.20 pp | 8 |
| Mirae Asset Mutual Fund | 1.47 lakh Cr | 2.99% | +0.03 pp | 9 |
| DSP Mutual Fund | 1.36 lakh Cr | 2.76% | -0.01 pp | 10 |
Biggest share gainers · quarter
- Nippon India Mutual Fund+0.21 pp
- quant Mutual Fund+0.15 pp
- ICICI Prudential Mutual Fund+0.11 pp
- PPFAS Mutual Fund+0.11 pp
- Invesco Mutual Fund+0.07 pp
Biggest share decliners · quarter
- SBI Mutual Fund-0.32 pp
- Aditya Birla Sun Life Mutual Fund-0.29 pp
- Axis Mutual Fund-0.20 pp
- UTI Mutual Fund-0.13 pp
- Bandhan Mutual Fund-0.05 pp
Rank changes among the top 30
- WhiteOak Capital Mutual Fund31 → 28
- Bajaj Finserv Mutual Fund32 → 29
- Bank of India Mutual Fund28 → 30
- PPFAS Mutual Fund19 → 18
- Sundaram Mutual Fund18 → 19
- quant Mutual Fund21 → 20
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
16.49 Cr
+30.76 L on the month · +16.8% 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 · Dec 2023
21new schemes allotted
9,872 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 | 4 | 4,259 Cr | — |
| Fixed Term Plan | 7 | 2,060 Cr | — |
| Dynamic Asset Allocation / Balanced Advantage Fund | 2 | 1,228 Cr | — |
| Small Cap Fund | 1 | 1,226 Cr | — |
| Large & Mid Cap Fund | 1 | 836 Cr | — |
| Index Funds | 3 | 167 Cr | — |
| Fund of funds investing overseas | 1 | 56.00 Cr | — |
| Childrens' Fund | 1 | 32.00 Cr | — |
| GOLD ETFs | 1 | 8.00 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 · Dec 2023
945companies held
20AMCs reporting
1,156new positions
950complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 ITC Limited194 comparable portfolios 15
- 02 Shriram Finance Limited91 comparable portfolios 14
- 03 Power Grid Corporation of India Limited116 comparable portfolios 14
- 04 State Bank of India235 comparable portfolios 14
- 05 Oracle Financial Services Software Limited41 comparable portfolios 13
- 06 Indian Railway Catering And Tourism Corporation Limited50 comparable portfolios 13
- 07 Bharat Petroleum Corporation Limited92 comparable portfolios 13
- 08 IndusInd Bank Limited153 comparable portfolios 13
- 09 SBI Life Insurance Company Limited117 comparable portfolios 13
- 10 ICICI Bank Limited280 comparable portfolios 13
Most AMCs reducing
↗CompanyAMCs
- 01 UltraTech Cement Limited170 comparable portfolios 12
- 02 HDFC Bank Limited271 comparable portfolios 12
- 03 Torrent Pharmaceuticals Limited75 comparable portfolios 11
- 04 DLF Limited94 comparable portfolios 11
- 05 Cholamandalam Investment and Finance Company Limited123 comparable portfolios 10
- 06 PI Industries Limited94 comparable portfolios 10
- 07 Hindustan Aeronautics Limited97 comparable portfolios 10
- 08 ABB India Limited90 comparable portfolios 10
- 09 Bharti Airtel Limited193 comparable portfolios 10
- 10 Maruti Suzuki India Limited178 comparable portfolios 10
Largest comparable holding increases
↗CompanyShares
- 01 Vodafone Idea Limited+22.3% · 26 portfolios +19.28 Cr
- 02 Bank of India+253.6% · 45 portfolios +10.67 Cr
- 03 GMR AIRPORTS LIMITED+70.8% · 26 portfolios +3.53 Cr
- 04 Samvardhana Motherson International Limited+7.3% · 94 portfolios +3.29 Cr
- 05 Petronet LNG Limited+49.2% · 42 portfolios +3.04 Cr
- 06 Bank of Baroda+12.3% · 114 portfolios +1.82 Cr
- 07 State Bank of India+3.4% · 235 portfolios +1.80 Cr
- 08 ETERNAL LIMITED+3.8% · 101 portfolios +1.73 Cr
- 09 Bandhan Bank Limited+21.1% · 57 portfolios +1.69 Cr
- 10 CESC Limited+12.9% · 27 portfolios +1.46 Cr
Largest comparable holding decreases
↗CompanyShares
- 01 Suzlon Energy Limited-38.0% · 36 portfolios -7.77 Cr
- 02 Sammaan Capital Limited-83.4% · 20 portfolios -2.29 Cr
- 03 Indian Renewable Energy Development Agency Limited-29.6% · 17 portfolios -1.88 Cr
- 04 Indian Oil Corporation Limited-10.6% · 58 portfolios -1.44 Cr
- 05 National Aluminium Company Limited-13.6% · 29 portfolios -1.43 Cr
- 06 Bharat Electronics Limited-2.4% · 135 portfolios -1.41 Cr
- 07 GAIL (India) Limited-4.0% · 84 portfolios -1.29 Cr
- 08 Oil & Natural Gas Corporation Limited-2.4% · 89 portfolios -1.17 Cr
- 09 Punjab National Bank-3.7% · 62 portfolios -99.24 L
- 10 Hindustan Petroleum Corporation Limited-19.8% · 62 portfolios -97.06 L
Most new positions
↗CompanyPositions
- 01 DOMS Industries Limited35 comparable portfolios 35
- 02 Bank of India45 comparable portfolios 20
- 03 Indian Bank65 comparable portfolios 20
- 04 Happy Forgings Limited18 comparable portfolios 18
- 05 INOX India Limited18 comparable portfolios 18
- 06 NTPC Limited186 comparable portfolios 16
- 07 HCL Technologies Limited161 comparable portfolios 16
- 08 Bharat Electronics Limited135 comparable portfolios 13
- 09 Hindustan Aeronautics Limited97 comparable portfolios 12
- 10 Computer Age Management Services Limited29 comparable portfolios 12
Most complete exits
↗CompanyExits
- 01 Cholamandalam Investment and Finance Company Limited123 comparable portfolios 21
- 02 UltraTech Cement Limited170 comparable portfolios 16
- 03 PI Industries Limited94 comparable portfolios 16
- 04 MphasiS Limited71 comparable portfolios 14
- 05 Balrampur Chini Mills Limited44 comparable portfolios 13
- 06 Sammaan Capital Limited20 comparable portfolios 13
- 07 Maruti Suzuki India Limited178 comparable portfolios 13
- 08 One 97 Communications Limited44 comparable portfolios 13
- 09 IDFC First Bank Limited62 comparable portfolios 11
- 10 The Federal Bank Limited109 comparable portfolios 11
Most widely held stocks
CompanyAMCs
- 01 Bharat Electronics Limited135 portfolios 20
- 02 ICICI Bank Limited285 portfolios 19
- 03 HDFC Bank Limited272 portfolios 19
- 04 State Bank of India237 portfolios 19
- 05 Axis Bank Limited221 portfolios 19
- 06 Larsen & Toubro Limited210 portfolios 19
- 07 Tata Consultancy Services Limited177 portfolios 19
- 08 IndusInd Bank Limited152 portfolios 19
- 09 Infosys Limited246 portfolios 18
- 10 Reliance Industries Limited212 portfolios 18
Broader ownership
↗CompanyΔ AMCs
- 01 Tata Chemicals Limited10 AMCs now +3
- 02 Saregama India Limited9 AMCs now +3
- 03 Sterling and Wilson Renewable Energy Limited5 AMCs now +2
- 04 Vijaya Diagnostic Centre Limited7 AMCs now +2
- 05 Sanofi India Limited11 AMCs now +2
- 06 Bharat Dynamics Limited11 AMCs now +2
- 07 Bata India Limited11 AMCs now +2
- 08 Fertilizers and Chemicals Travancore Limited7 AMCs now +2
- 09 Aavas Financiers Limited11 AMCs now +2
- 10 Clean Science and Technology Limited8 AMCs now +2
Narrower ownership
↗CompanyΔ AMCs
- 01 Sammaan Capital Limited5 AMCs now -8
- 02 Dr. Reddy's Laboratories Limited16 AMCs now -4
- 03 Motherson Sumi Wiring India Limited10 AMCs now -4
- 04 Atul Limited7 AMCs now -4
- 05 Tata Communications Limited8 AMCs now -4
- 06 Maruti Suzuki India Limited18 AMCs now -4
- 07 Reliance Industries Limited18 AMCs now -3
- 08 Dalmia Bharat Limited14 AMCs now -3
- 09 ACC Limited14 AMCs now -3
- 10 Hindalco Industries Limited17 AMCs now -3
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 | Dec 2023 | Monthly | Aug 2026 |
| SIP contribution & assets | Not published for this period | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | Dec 2023 | Monthly | Aug 2026 |
| Fund-house assets & market share | Oct–Dec 2023 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | Dec 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 →