India mutual fund monitor
September 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 Sep 2025 SIP Sep 2025 NFO Sep 2025 Fund-house assets Jul–Sep 2025 (quarterly) Holdings Sep 2025
AMFI monthly report, Sep 2025. Total net flow covers all schemes; the asset-class figures are open-ended schemes. +85,753 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 +30,422 Cr
- Debt -1.02 lakh Cr
- Hybrid +9,397 Cr
- Index funds & ETFs +18,095 Cr
- Overseas fund of funds +962 Cr
- Solution oriented +286 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +30,422 | +33,430 | +106,554 | +386,483 |
| Debt | -101,977 | -7,980 | -3,156 | +160,990 |
| Hybrid | +9,397 | +15,294 | +45,570 | +143,787 |
| Index funds & ETFs | +18,095 | +10,936 | +37,094 | +133,050 |
| Overseas fund of funds | +962 | +501 | +1,659 | +1,382 |
| Solution oriented | +286 | +320 | +889 | +3,188 |
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 · Sep 2025
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| Gold ETFPassive | +8,363 | +11.54% | +11,809 | +23,688 |
| Other ETFs (single category)Passive | +8,151 | +0.97% | +19,872 | +70,254 |
| Flexi CapEquity | +7,029 | +1.42% | +22,363 | +68,891 |
| Mid CapEquity | +5,085 | +1.19% | +15,599 | +52,129 |
| Multi Asset AllocationHybrid | +4,982 | +3.77% | +14,707 | +37,787 |
| Small CapEquity | +4,363 | +1.24% | +15,840 | +53,166 |
| OvernightDebt | +4,279 | +4.96% | +18,095 | +17,833 |
| Large & Mid CapEquity | +3,805 | +1.27% | +12,166 | +43,751 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| LiquidDebt | -66,042 | -12.42% | -40,037 | -7,694 |
| Money MarketDebt | -17,900 | -5.25% | +28,884 | +80,324 |
| Ultra Short TermDebt | -13,606 | -9.94% | -10,956 | +15,295 |
| Short TermDebt | -2,173 | -1.59% | +221 | +12,866 |
| Banking and PSU DebtDebt | -1,967 | -2.42% | -3,429 | -2,952 |
| Floating Interest RatesDebt | -1,526 | -2.93% | -1,567 | -5,345 |
| Corporate BondDebt | -1,444 | -0.71% | -847 | +28,114 |
| Ultra Short to Short TermDebt | -1,253 | -0.88% | +8,990 | +26,751 |
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 2025 quarter. AMFI publishes fund-house assets as quarterly averages. This is the latest quarter that had ended by Sep 2025; it is not a September 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 | 12.00 lakh Cr | 15.55% | -0.25 pp | 1 |
| ICICI Prudential Mutual Fund | 10.15 lakh Cr | 13.15% | +0.06 pp | 2 |
| HDFC Mutual Fund | 8.81 lakh Cr | 11.43% | -0.06 pp | 3 |
| Nippon India Mutual Fund | 6.57 lakh Cr | 8.51% | +0.02 pp | 4 |
| Kotak Mahindra Mutual Fund | 5.56 lakh Cr | 7.21% | +0.01 pp | 5 |
| Aditya Birla Sun Life Mutual Fund | 4.25 lakh Cr | 5.51% | -0.08 pp | 6 |
| UTI Mutual Fund | 3.78 lakh Cr | 4.91% | -0.10 pp | 7 |
| Axis Mutual Fund | 3.51 lakh Cr | 4.55% | -0.10 pp | 8 |
| Tata Mutual Fund | 2.17 lakh Cr | 2.81% | +0.09 pp | 9was 11 |
| DSP Mutual Fund | 2.11 lakh Cr | 2.74% | -0.00 pp | 10 |
Biggest share gainers · quarter
- Motilal Oswal Mutual Fund+0.13 pp
- PPFAS Mutual Fund+0.10 pp
- Tata Mutual Fund+0.09 pp
- ICICI Prudential Mutual Fund+0.06 pp
- Invesco Mutual Fund+0.05 pp
Biggest share decliners · quarter
- SBI Mutual Fund-0.25 pp
- Axis Mutual Fund-0.10 pp
- UTI Mutual Fund-0.10 pp
- Aditya Birla Sun Life Mutual Fund-0.08 pp
- HDFC Mutual Fund-0.06 pp
Rank changes among the top 30
- Tata Mutual Fund11 → 9
- Mirae Asset Mutual Fund9 → 11
- PPFAS Mutual Fund16 → 15
- Invesco Mutual Fund15 → 16
- Motilal Oswal Mutual Fund19 → 18
- Canara Robeco Mutual Fund18 → 19
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
29,361 Cr+19.8% year on year
SIP contribution · 12 months
3.22 lakh CrNeeds 12 published months
SIP assets
15.52 lakh Cr20.5% of industry assets
Contributing SIP accounts
9.25 CrAccounts that paid in this month
Folios
25.19 Cr
+30.14 L on the month · +19.7% 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 · Sep 2025
9new schemes allotted
1,959 Crmobilised
Part of this month’s gross mobilisation — shown separately, never added to category net flow.
| Published category | Schemes | Mobilised | Schemes launched |
|---|---|---|---|
| Index Funds | 4 | 886 Cr | — |
| Sectoral/Thematic Funds | 1 | 729 Cr | — |
| Multi Asset Allocation Fund | 1 | 274 Cr | — |
| Other ETFs | 2 | 63.00 Cr | — |
| GOLD ETFs | 1 | 7.00 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 · Sep 2025
1,072companies held
28AMCs reporting
1,555new positions
1,469complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 Kotak Mahindra Bank Limited259 comparable portfolios 19
- 02 State Bank of India277 comparable portfolios 18
- 03 ETERNAL LIMITED251 comparable portfolios 18
- 04 Marico Limited86 comparable portfolios 17
- 05 Bank of Baroda107 comparable portfolios 16
- 06 Tata Steel Limited157 comparable portfolios 16
- 07 InterGlobe Aviation Limited227 comparable portfolios 16
- 08 Bharti Airtel Limited305 comparable portfolios 16
- 09 Sammaan Capital Limited28 comparable portfolios 15
- 10 Vedanta Limited120 comparable portfolios 15
Most AMCs reducing
↗CompanyAMCs
- 01 HDFC Life Insurance Company Limited158 comparable portfolios 15
- 02 Bajaj Finance Limited252 comparable portfolios 14
- 03 Asian Paints Limited119 comparable portfolios 12
- 04 Infosys Limited300 comparable portfolios 12
- 05 Supreme Industries Limited60 comparable portfolios 11
- 06 GE Vernova T&D India Limited122 comparable portfolios 11
- 07 Cipla Limited156 comparable portfolios 11
- 08 UNO Minda Limited117 comparable portfolios 11
- 09 Sun Pharmaceutical Industries Limited213 comparable portfolios 11
- 10 SBI Life Insurance Company Limited172 comparable portfolios 11
Largest comparable holding increases
↗CompanyShares
- 01 Vodafone Idea Limited+12.4% · 35 portfolios +23.42 Cr
- 02 Yes Bank Limited+15.2% · 40 portfolios +5.80 Cr
- 03 ETERNAL LIMITED+5.6% · 251 portfolios +5.46 Cr
- 04 Samvardhana Motherson International Limited+6.8% · 147 portfolios +5.29 Cr
- 05 Motherson Sumi Wiring India Limited+15.4% · 45 portfolios +4.45 Cr
- 06 Sammaan Capital Limited+316.2% · 28 portfolios +3.69 Cr
- 07 ITC Limited+5.5% · 222 portfolios +3.68 Cr
- 08 Canara Bank+13.5% · 78 portfolios +2.64 Cr
- 09 Tata Steel Limited+5.3% · 157 portfolios +2.02 Cr
- 10 SAGILITY LIMITED+21.2% · 21 portfolios +2.01 Cr
Largest comparable holding decreases
↗CompanyShares
- 01 Suzlon Energy Limited-5.4% · 83 portfolios -1.94 Cr
- 02 NTPC Limited-2.5% · 216 portfolios -1.89 Cr
- 03 IDFC First Bank Limited-2.9% · 61 portfolios -1.40 Cr
- 04 Bajaj Finance Limited-4.0% · 252 portfolios -1.21 Cr
- 05 NHPC Limited-4.8% · 40 portfolios -1.03 Cr
- 06 Paradeep Phosphates Limited-13.0% · 12 portfolios -80.38 L
- 07 Biocon Limited-12.6% · 70 portfolios -78.72 L
- 08 Tata Motors Passenger Vehicles Limited-6.9% · 147 portfolios -76.38 L
- 09 Ola Electric Mobility Limited-18.7% · 22 portfolios -68.67 L
- 10 Coal India Limited-1.2% · 123 portfolios -50.16 L
Most new positions
↗CompanyPositions
- 01 Max Healthcare Institute Limited154 comparable portfolios 31
- 02 InterGlobe Aviation Limited227 comparable portfolios 28
- 03 Siemens Energy India Limited94 comparable portfolios 24
- 04 Britannia Industries Limited136 comparable portfolios 22
- 05 Urban Company Limited21 comparable portfolios 21
- 06 Hexaware Technologies Limited51 comparable portfolios 20
- 07 Solar Industries India Limited120 comparable portfolios 19
- 08 Procter & Gamble Hygiene and Health Care Limited27 comparable portfolios 17
- 09 Mazagon Dock Shipbuilders Limited73 comparable portfolios 16
- 10 Hindustan Zinc Limited63 comparable portfolios 16
Most complete exits
↗CompanyExits
- 01 Hero MotoCorp Limited153 comparable portfolios 38
- 02 IndusInd Bank Limited137 comparable portfolios 34
- 03 InterGlobe Aviation Limited227 comparable portfolios 20
- 04 Siemens Energy India Limited94 comparable portfolios 17
- 05 Dabur India Limited73 comparable portfolios 16
- 06 Tata Chemicals Limited37 comparable portfolios 15
- 07 Swiggy Limited121 comparable portfolios 14
- 08 ICICI Prudential Life Insurance Company Limited74 comparable portfolios 14
- 09 Max Healthcare Institute Limited154 comparable portfolios 13
- 10 Tata Motors Passenger Vehicles Limited147 comparable portfolios 13
Most widely held stocks
CompanyAMCs
- 01 Bharti Airtel Limited338 portfolios 28
- 02 HDFC Bank Limited395 portfolios 27
- 03 ICICI Bank Limited382 portfolios 27
- 04 Bajaj Finance Limited265 portfolios 27
- 05 Infosys Limited330 portfolios 26
- 06 Reliance Industries Limited326 portfolios 26
- 07 Mahindra & Mahindra Limited287 portfolios 26
- 08 ETERNAL LIMITED280 portfolios 26
- 09 Bharat Electronics Limited258 portfolios 26
- 10 State Bank of India326 portfolios 25
Broader ownership
↗CompanyΔ AMCs
- 01 Sammaan Capital Limited17 AMCs now +6
- 02 Procter & Gamble Hygiene and Health Care Limited13 AMCs now +6
- 03 ITC Hotels Limited16 AMCs now +5
- 04 Onesource Specialty Pharma Limited8 AMCs now +4
- 05 Aditya Birla Lifestyle Brands Limited7 AMCs now +4
- 06 Prestige Estates Projects Limited21 AMCs now +4
- 07 Dr. Agarwal's Health Care Limited9 AMCs now +4
- 08 Leela Palaces Hotels & Resorts Limited6 AMCs now +3
- 09 Aegis Vopak Terminals Limited6 AMCs now +3
- 10 LIC Housing Finance Limited21 AMCs now +3
Narrower ownership
↗CompanyΔ AMCs
- 01 Raymond Limited1 AMCs now -6
- 02 Tata Chemicals Limited9 AMCs now -5
- 03 Ola Electric Mobility Limited7 AMCs now -5
- 04 Mangalore Refinery and Petrochemicals Limited5 AMCs now -5
- 05 Kansai Nerolac Paints Limited4 AMCs now -5
- 06 Sterling and Wilson Renewable Energy Limited4 AMCs now -4
- 07 Tejas Networks Limited5 AMCs now -4
- 08 Rossari Biotech Limited2 AMCs now -4
- 09 Gujarat Pipavav Port Limited5 AMCs now -4
- 10 Aditya Birla Fashion and Retail Limited6 AMCs now -4
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 | Sep 2025 | Monthly | Aug 2026 |
| SIP contribution & assets | Sep 2025 | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | Sep 2025 | Monthly | Aug 2026 |
| Fund-house assets & market share | Jul–Sep 2025 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | Sep 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 →