India mutual fund monitor
March 2025
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 Mar 2025 SIP Mar 2025 NFO Mar 2025 Fund-house assets Jan–Mar 2025 (quarterly) Holdings Mar 2025
AMFI monthly report, Mar 2025. Total net flow covers all schemes; the asset-class figures are open-ended schemes. +2.85 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 +25,082 Cr
- Debt -2.03 lakh Cr
- Hybrid -947 Cr
- Index funds & ETFs +14,385 Cr
- Overseas fund of funds -237 Cr
- Solution oriented +241 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +25,082 | +29,303 | +94,073 | +417,053 |
| Debt | -202,663 | -6,526 | -80,536 | +138,380 |
| Hybrid | -947 | +6,804 | +14,625 | +119,032 |
| Index funds & ETFs | +14,385 | +10,003 | +34,566 | +142,385 |
| Overseas fund of funds | -237 | +246 | +86.89 | -2,065 |
| Solution oriented | +241 | +246 | +730 | +3,292 |
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 · Mar 2025
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| Other ETFs (single category)Passive | +10,962 | +1.51% | +15,980 | +68,227 |
| Flexi CapEquity | +5,615 | +1.38% | +16,417 | +49,580 |
| Small CapEquity | +4,092 | +1.49% | +13,535 | +41,673 |
| Index Funds (single category)Passive | +3,501 | +1.30% | +12,932 | +59,306 |
| Mid CapEquity | +3,439 | +1.01% | +11,994 | +41,409 |
| Multi CapEquity | +2,753 | +1.71% | +8,838 | +42,282 |
| Large & Mid CapEquity | +2,718 | +1.12% | +9,497 | +40,308 |
| Large CapEquity | +2,479 | +0.74% | +8,409 | +23,487 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| LiquidDebt | -133,034 | -23.44% | -36,464 | +38,349 |
| OvernightDebt | -30,016 | -32.66% | -13,343 | -4,996 |
| Money MarketDebt | -21,301 | -8.46% | -2,662 | +66,582 |
| Ultra Short TermDebt | -9,647 | -8.96% | -12,880 | +7,772 |
| ArbitrageHybrid | -2,855 | -1.42% | +5,029 | +50,800 |
| Banking and PSU DebtDebt | -1,579 | -1.99% | -1,219 | -7,903 |
| Ultra Short to Short TermDebt | -1,384 | -1.22% | -3,543 | +14,730 |
| Floating Interest RatesDebt | -1,180 | -2.34% | -2,652 | -5,827 |
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 2025 quarter. AMFI publishes fund-house assets as quarterly averages. This is the latest quarter that had ended by Mar 2025; it is not a March 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 | 10.73 lakh Cr | 15.91% | -0.32 pp | 1 |
| ICICI Prudential Mutual Fund | 8.79 lakh Cr | 13.04% | +0.31 pp | 2 |
| HDFC Mutual Fund | 7.74 lakh Cr | 11.48% | +0.00 pp | 3 |
| Nippon India Mutual Fund | 5.57 lakh Cr | 8.26% | -0.04 pp | 4 |
| Kotak Mahindra Mutual Fund | 4.83 lakh Cr | 7.16% | +0.03 pp | 5 |
| Aditya Birla Sun Life Mutual Fund | 3.82 lakh Cr | 5.66% | +0.07 pp | 6 |
| UTI Mutual Fund | 3.40 lakh Cr | 5.04% | -0.10 pp | 7 |
| Axis Mutual Fund | 3.22 lakh Cr | 4.77% | +0.02 pp | 8 |
| Tata Mutual Fund | 1.88 lakh Cr | 2.78% | +0.05 pp | 9was 11 |
| DSP Mutual Fund | 1.87 lakh Cr | 2.78% | -0.03 pp | 10 |
Biggest share gainers · quarter
- ICICI Prudential Mutual Fund+0.31 pp
- Motilal Oswal Mutual Fund+0.12 pp
- PPFAS Mutual Fund+0.11 pp
- Aditya Birla Sun Life Mutual Fund+0.07 pp
- Tata Mutual Fund+0.05 pp
Biggest share decliners · quarter
- SBI Mutual Fund-0.32 pp
- UTI Mutual Fund-0.10 pp
- quant Mutual Fund-0.09 pp
- Mirae Asset Mutual Fund-0.07 pp
- HSBC Mutual Fund-0.06 pp
Rank changes among the top 30
- Tata Mutual Fund11 → 9
- Mirae Asset Mutual Fund9 → 11
- quant Mutual Fund18 → 20
- Invesco Mutual Fund17 → 16
- Canara Robeco Mutual Fund16 → 17
- PPFAS Mutual Fund19 → 18
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
25,926 CrNo year-ago figure published
SIP contribution · 12 months
—Not published for this period
SIP assets
13.35 lakh Cr20.3% of industry assets
Contributing SIP accounts
8.11 CrAccounts that paid in this month
Folios
23.45 Cr
+22.27 L on the month · +31.9% 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 · Mar 2025
30new schemes allotted
4,085 Crmobilised
Part of this month’s gross mobilisation — shown separately, never added to category net flow.
| Published category | Schemes | Mobilised | Schemes launched |
|---|---|---|---|
| Index Funds | 11 | 2,049 Cr | — |
| Low Duration Fund | 2 | 928 Cr | — |
| Dynamic Asset Allocation | 1 | 520 Cr | — |
| Value Fund | 1 | 221 Cr | — |
| Large Cap Fund | 1 | 149 Cr | — |
| Other ETFs | 10 | 90.00 Cr | — |
| Mid Cap Fund | 1 | 47.00 Cr | — |
| Sectoral/Thematic Funds | 1 | 40.00 Cr | — |
| Equity Savings Fund | 1 | 29.00 Cr | — |
| GOLD ETFs | 1 | 12.00 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 · Mar 2025
1,070companies held
27AMCs reporting
2,164new positions
2,031complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 Apollo Hospitals Enterprise Limited184 comparable portfolios 19
- 02 ITC Limited249 comparable portfolios 18
- 03 Adani Enterprises Limited81 comparable portfolios 17
- 04 Marico Limited97 comparable portfolios 17
- 05 Torrent Pharmaceuticals Limited115 comparable portfolios 17
- 06 Divi's Laboratories Limited147 comparable portfolios 17
- 07 Hindustan Petroleum Corporation Limited116 comparable portfolios 16
- 08 TATA CONSUMER PRODUCTS LIMITED137 comparable portfolios 16
- 09 United Spirits Limited159 comparable portfolios 16
- 10 UltraTech Cement Limited221 comparable portfolios 16
Most AMCs reducing
↗CompanyAMCs
- 01 HCL Technologies Limited215 comparable portfolios 17
- 02 Bharat Heavy Electricals Limited97 comparable portfolios 13
- 03 Larsen & Toubro Limited297 comparable portfolios 13
- 04 Abbott India Limited78 comparable portfolios 12
- 05 LTM Limited139 comparable portfolios 12
- 06 Cummins India Limited139 comparable portfolios 12
- 07 ETERNAL LIMITED276 comparable portfolios 12
- 08 Infosys Limited347 comparable portfolios 12
- 09 Britannia Industries Limited138 comparable portfolios 11
- 10 Muthoot Finance Limited107 comparable portfolios 11
Largest comparable holding increases
↗CompanyShares
- 01 Vodafone Idea Limited+23.5% · 51 portfolios +35.83 Cr
- 02 ETERNAL LIMITED+12.4% · 276 portfolios +12.43 Cr
- 03 Jio Financial Services Limited+26.0% · 124 portfolios +7.08 Cr
- 04 IDFC First Bank Limited+22.0% · 55 portfolios +6.50 Cr
- 05 Yes Bank Limited+22.8% · 38 portfolios +3.52 Cr
- 06 Oil & Natural Gas Corporation Limited+4.5% · 163 portfolios +2.75 Cr
- 07 Restaurant Brands Asia Limited+42.5% · 15 portfolios +2.75 Cr
- 08 Samvardhana Motherson International Limited+3.0% · 175 portfolios +2.54 Cr
- 09 GAIL (India) Limited+5.3% · 128 portfolios +2.26 Cr
- 10 Tata Steel Limited+2.3% · 173 portfolios +1.93 Cr
Largest comparable holding decreases
↗CompanyShares
- 01 NHPC Limited-10.7% · 57 portfolios -3.26 Cr
- 02 Steel Authority of India Limited-23.5% · 66 portfolios -3.25 Cr
- 03 Bharat Petroleum Corporation Limited-6.3% · 181 portfolios -1.60 Cr
- 04 Indian Oil Corporation Limited-6.7% · 69 portfolios -1.46 Cr
- 05 Suzlon Energy Limited-4.0% · 68 portfolios -1.46 Cr
- 06 Bharat Electronics Limited-2.0% · 229 portfolios -1.30 Cr
- 07 Union Bank of India-12.0% · 55 portfolios -1.24 Cr
- 08 REC Limited-6.4% · 163 portfolios -1.07 Cr
- 09 Lemon Tree Hotels Limited-7.1% · 34 portfolios -1.04 Cr
- 10 IndusInd Bank Limited-8.7% · 226 portfolios -1.03 Cr
Most new positions
↗CompanyPositions
- 01 Jio Financial Services Limited124 comparable portfolios 40
- 02 ETERNAL LIMITED276 comparable portfolios 31
- 03 Bharat Petroleum Corporation Limited181 comparable portfolios 29
- 04 Hyundai Motor India Limited90 comparable portfolios 28
- 05 Swiggy Limited82 comparable portfolios 24
- 06 The Indian Hotels Company Limited141 comparable portfolios 24
- 07 Bajaj Housing Finance Limited29 comparable portfolios 24
- 08 Bajaj Finserv Limited174 comparable portfolios 24
- 09 CG Power and Industrial Solutions Limited115 comparable portfolios 21
- 10 Bajaj Finance Limited250 comparable portfolios 20
Most complete exits
↗CompanyExits
- 01 Bharat Petroleum Corporation Limited181 comparable portfolios 38
- 02 Britannia Industries Limited138 comparable portfolios 37
- 03 IndusInd Bank Limited226 comparable portfolios 32
- 04 ETERNAL LIMITED276 comparable portfolios 32
- 05 L&T Technology Services Limited76 comparable portfolios 24
- 06 ITC Hotels Limited64 comparable portfolios 22
- 07 NHPC Limited57 comparable portfolios 21
- 08 Bharat Heavy Electricals Limited97 comparable portfolios 20
- 09 Indian Railway Catering And Tourism Corporation Limited79 comparable portfolios 19
- 10 Adani Total Gas Limited34 comparable portfolios 18
Most widely held stocks
CompanyAMCs
- 01 Reliance Industries Limited351 portfolios 26
- 02 Bharti Airtel Limited339 portfolios 26
- 03 Bajaj Finance Limited261 portfolios 26
- 04 ICICI Bank Limited406 portfolios 25
- 05 HDFC Bank Limited404 portfolios 25
- 06 Infosys Limited362 portfolios 25
- 07 Kotak Mahindra Bank Limited292 portfolios 25
- 08 NTPC Limited269 portfolios 25
- 09 ITC Limited250 portfolios 25
- 10 Bharat Electronics Limited247 portfolios 25
Broader ownership
↗CompanyΔ AMCs
- 01 Bajaj Housing Finance Limited13 AMCs now +8
- 02 Ola Electric Mobility Limited10 AMCs now +6
- 03 Afcons Infrastructure Limited12 AMCs now +6
- 04 Waaree Energies Limited11 AMCs now +6
- 05 Raymond Lifestyle Limited8 AMCs now +5
- 06 Brainbees Solutions Limited10 AMCs now +5
- 07 Alivus Life Sciences Limited11 AMCs now +5
- 08 Wockhardt Limited12 AMCs now +5
- 09 Inox Wind Limited11 AMCs now +5
- 10 NTPC Green Energy Limited14 AMCs now +5
Narrower ownership
↗CompanyΔ AMCs
- 01 Metro Brands Limited10 AMCs now -4
- 02 IDBI Bank Limited6 AMCs now -3
- 03 Easy Trip Planners Limited4 AMCs now -3
- 04 Procter & Gamble Hygiene and Health Care Limited8 AMCs now -3
- 05 Fertilizers and Chemicals Travancore Limited6 AMCs now -3
- 06 Adani Total Gas Limited10 AMCs now -3
- 07 Vinati Organics Limited10 AMCs now -3
- 08 Indian Overseas Bank7 AMCs now -3
- 09 Ratnamani Metals & Tubes Limited9 AMCs now -3
- 10 Gujarat Ambuja Exports Limited4 AMCs now -2
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 | Mar 2025 | Monthly | Aug 2026 |
| SIP contribution & assets | Mar 2025 | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | Mar 2025 | Monthly | Aug 2026 |
| Fund-house assets & market share | Jan–Mar 2025 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | Mar 2025 | 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 →