India mutual fund monitor
May 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 May 2025 SIP May 2025 NFO May 2025 Fund-house assets Jan–Mar 2025 (quarterly) Holdings May 2025
AMFI monthly report, May 2025. Total net flow covers all schemes; the asset-class figures are open-ended schemes. +1.91 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 +19,013 Cr
- Debt -15,908 Cr
- Hybrid +20,765 Cr
- Index funds & ETFs +5,483 Cr
- Overseas fund of funds +42.83 Cr
- Solution oriented +177 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +19,013 | +24,269 | +68,364 | +406,722 |
| Debt | -15,908 | +219,136 | +565 | +109,423 |
| Hybrid | +20,765 | +14,248 | +34,066 | +116,191 |
| Index funds & ETFs | +5,483 | +20,606 | +40,475 | +140,591 |
| Overseas fund of funds | +42.83 | -377 | -571 | -1,676 |
| Solution oriented | +177 | +206 | +624 | +2,963 |
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 2025
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| ArbitrageHybrid | +15,702 | +7.37% | +24,638 | +51,633 |
| Corporate BondDebt | +11,983 | +6.59% | +15,028 | +26,335 |
| Money MarketDebt | +11,223 | +4.21% | +21,429 | +66,956 |
| Other ETFs (single category)Passive | +4,087 | +0.50% | +34,105 | +74,934 |
| Flexi CapEquity | +3,841 | +0.84% | +14,998 | +53,635 |
| Small CapEquity | +3,214 | +1.05% | +11,306 | +43,954 |
| Ultra Short to Short TermDebt | +3,134 | +2.54% | +11,120 | +19,015 |
| Multi CapEquity | +2,999 | +1.64% | +8,304 | +42,465 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| LiquidDebt | -40,205 | -7.18% | -54,583 | -11,825 |
| OvernightDebt | -8,120 | -9.35% | -14,236 | -17,056 |
| ELSS (Tax Saver)Equity | -678 | -0.28% | -315 | +650 |
| Floating Interest RatesDebt | -254 | -0.50% | -864 | -6,583 |
| Credit RiskDebt | -248 | -1.21% | -844 | -4,140 |
| Value / Contra (combined)Equity | -92.28 | -0.05% | +2,534 | +19,387 |
| Medium TermDebt | -47.11 | -0.19% | -485 | -2,280 |
| Dividend YieldEquity | -20.82 | -0.07% | +171 | +4,660 |
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 May 2025; 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 | 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
26,688 CrNo year-ago figure published
SIP contribution · 12 months
3.01 lakh CrNeeds 12 published months
SIP assets
14.61 lakh Cr20.2% of industry assets
Contributing SIP accounts
8.56 CrAccounts that paid in this month
Folios
23.83 Cr
+20.18 L on the month · +28.1% 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 2025
19new schemes allotted
4,170 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 | 2 | 1,792 Cr | — |
| Multi Cap Fund | 1 | 940 Cr | — |
| Multi Asset Allocation Fund | 1 | 859 Cr | — |
| Index Funds | 7 | 514 Cr | — |
| Other ETFs | 7 | 42.00 Cr | — |
| Gilt Fund | 1 | 23.00 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 2025
1,031companies held
27AMCs reporting
1,235new positions
1,024complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 Marico Limited95 comparable portfolios 19
- 02 Hindustan Unilever Limited210 comparable portfolios 18
- 03 Hindustan Aeronautics Limited164 comparable portfolios 18
- 04 HDFC Asset Management Company Limited137 comparable portfolios 17
- 05 ITC Limited240 comparable portfolios 17
- 06 State Bank of India303 comparable portfolios 17
- 07 Tata Consultancy Services Limited271 comparable portfolios 17
- 08 HDFC Life Insurance Company Limited165 comparable portfolios 17
- 09 HCL Technologies Limited205 comparable portfolios 17
- 10 PNB Housing Finance Limited91 comparable portfolios 16
Most AMCs reducing
↗CompanyAMCs
- 01 Punjab National Bank92 comparable portfolios 14
- 02 Bank of Baroda137 comparable portfolios 13
- 03 Hero MotoCorp Limited176 comparable portfolios 13
- 04 ICICI Bank Limited378 comparable portfolios 12
- 05 HFCL LIMITED30 comparable portfolios 11
- 06 Aarti Industries Limited47 comparable portfolios 11
- 07 Mahanagar Gas Limited53 comparable portfolios 11
- 08 Hindustan Copper Limited37 comparable portfolios 11
- 09 Havells India Limited101 comparable portfolios 11
- 10 ICICI Prudential Life Insurance Company Limited90 comparable portfolios 11
Largest comparable holding increases
↗CompanyShares
- 01 ETERNAL LIMITED+14.0% · 258 portfolios +14.52 Cr
- 02 ITC Limited+12.0% · 240 portfolios +11.35 Cr
- 03 Tata Steel Limited+6.2% · 173 portfolios +5.09 Cr
- 04 IDFC First Bank Limited+8.4% · 72 portfolios +4.10 Cr
- 05 Steel Authority of India Limited+40.3% · 71 portfolios +3.90 Cr
- 06 Swiggy Limited+51.9% · 86 portfolios +3.11 Cr
- 07 Yes Bank Limited+15.4% · 47 portfolios +3.06 Cr
- 08 Aditya Birla Lifestyle Brands Limited— · 28 portfolios +2.51 Cr
- 09 Bharat Heavy Electricals Limited+16.8% · 98 portfolios +2.44 Cr
- 10 Ather Energy Limited+125.9% · 16 portfolios +2.39 Cr
Largest comparable holding decreases
↗CompanyShares
- 01 Vodafone Idea Limited-4.2% · 55 portfolios -8.88 Cr
- 02 Oil & Natural Gas Corporation Limited-4.5% · 150 portfolios -2.58 Cr
- 03 Bank of Baroda-8.8% · 137 portfolios -2.06 Cr
- 04 Paradeep Phosphates Limited-12.8% · 21 portfolios -1.99 Cr
- 05 NMDC Limited-3.8% · 84 portfolios -1.62 Cr
- 06 Aditya Birla Fashion and Retail Limited-28.4% · 60 portfolios -1.54 Cr
- 07 IRB Infrastructure Developers Limited-39.2% · 34 portfolios -1.45 Cr
- 08 Ujjivan Small Finance Bank Limited-12.3% · 27 portfolios -1.25 Cr
- 09 Samvardhana Motherson International Limited-1.5% · 163 portfolios -1.07 Cr
- 10 NHPC Limited-3.9% · 47 portfolios -99.75 L
Most new positions
↗CompanyPositions
- 01 Aditya Birla Lifestyle Brands Limited28 comparable portfolios 28
- 02 K.P.R. Mill Limited77 comparable portfolios 21
- 03 Raymond Realty Limited19 comparable portfolios 19
- 04 ETERNAL LIMITED258 comparable portfolios 19
- 05 Hindustan Aeronautics Limited164 comparable portfolios 18
- 06 PNB Housing Finance Limited91 comparable portfolios 18
- 07 SBI Cards and Payment Services Limited114 comparable portfolios 14
- 08 Bharat Heavy Electricals Limited98 comparable portfolios 14
- 09 Fortis Healthcare Limited111 comparable portfolios 13
- 10 Computer Age Management Services Limited70 comparable portfolios 13
Most complete exits
↗CompanyExits
- 01 Aditya Birla Fashion and Retail Limited60 comparable portfolios 19
- 02 REC Limited157 comparable portfolios 15
- 03 MRF Limited59 comparable portfolios 13
- 04 Bajaj Auto Limited191 comparable portfolios 13
- 05 Muthoot Finance Limited110 comparable portfolios 12
- 06 Escorts Kubota Limited43 comparable portfolios 11
- 07 Tata Motors Passenger Vehicles Limited189 comparable portfolios 11
- 08 Wipro Limited123 comparable portfolios 10
- 09 Oil & Natural Gas Corporation Limited150 comparable portfolios 10
- 10 The Ramco Cements Limited46 comparable portfolios 10
Most widely held stocks
CompanyAMCs
- 01 Infosys Limited357 portfolios 27
- 02 Bharti Airtel Limited345 portfolios 27
- 03 InterGlobe Aviation Limited213 portfolios 27
- 04 ICICI Bank Limited407 portfolios 26
- 05 HDFC Bank Limited406 portfolios 26
- 06 Reliance Industries Limited334 portfolios 26
- 07 Axis Bank Limited316 portfolios 26
- 08 Kotak Mahindra Bank Limited297 portfolios 26
- 09 Bajaj Finance Limited277 portfolios 26
- 10 Bharat Electronics Limited258 portfolios 26
Broader ownership
↗CompanyΔ AMCs
- 01 Prestige Estates Projects Limited20 AMCs now +4
- 02 Chambal Fertilizers & Chemicals Limited15 AMCs now +3
- 03 Bharti Hexacom Limited20 AMCs now +3
- 04 Global Health Limited16 AMCs now +3
- 05 Schaeffler India Limited21 AMCs now +3
- 06 Siemens Limited18 AMCs now +2
- 07 Prudent Corporate Advisory Services Limited15 AMCs now +2
- 08 Indian Energy Exchange Limited19 AMCs now +2
- 09 Max Healthcare Institute Limited21 AMCs now +2
- 10 Suzlon Energy Limited16 AMCs now +2
Narrower ownership
↗CompanyΔ AMCs
- 01 Aditya Birla Fashion and Retail Limited13 AMCs now -11
- 02 MRF Limited12 AMCs now -5
- 03 Laurus Labs Limited15 AMCs now -4
- 04 Inox Wind Limited8 AMCs now -3
- 05 Wipro Limited20 AMCs now -3
- 06 Indian Railway Catering And Tourism Corporation Limited17 AMCs now -3
- 07 HFCL LIMITED12 AMCs now -3
- 08 GMR AIRPORTS LIMITED17 AMCs now -3
- 09 IRB Infrastructure Developers Limited15 AMCs now -3
- 10 Mahanagar Gas Limited15 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 | May 2025 | Monthly | Aug 2026 |
| SIP contribution & assets | May 2025 | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | May 2025 | Monthly | Aug 2026 |
| Fund-house assets & market share | Jan–Mar 2025 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | May 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 →