India mutual fund monitor
December 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 Dec 2025 SIP Dec 2025 NFO Dec 2025 Fund-house assets Oct–Dec 2025 (quarterly) Holdings Dec 2025
AMFI monthly report, Dec 2025. Total net flow covers all schemes; the asset-class figures are open-ended schemes. +9,600 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 +28,054 Cr
- Debt -1.32 lakh Cr
- Hybrid +10,756 Cr
- Index funds & ETFs +26,577 Cr
- Overseas fund of funds +147 Cr
- Solution oriented +345 Cr
| Asset class | This month | Previous | 3 months | 12 months |
|---|---|---|---|---|
| Equity | +28,054 | +29,911 | +82,655 | +350,152 |
| Debt | -132,410 | -25,693 | +1,855 | +119,679 |
| Hybrid | +10,756 | +13,299 | +38,211 | +156,642 |
| Index funds & ETFs | +26,577 | +15,189 | +57,620 | +159,338 |
| Overseas fund of funds | +147 | +196 | +1,156 | +2,597 |
| Solution oriented | +345 | +320 | +926 | +3,135 |
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 2025
Largest category inflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| Other ETFs (single category)Passive | +13,199 | +1.41% | +29,102 | +88,941 |
| Gold ETFPassive | +11,647 | +10.54% | +23,132 | +42,961 |
| Flexi CapEquity | +10,019 | +1.84% | +27,083 | +80,979 |
| Multi Asset AllocationHybrid | +7,426 | +4.72% | +18,085 | +47,057 |
| Mid CapEquity | +4,176 | +0.90% | +12,470 | +49,939 |
| Large & Mid CapEquity | +4,094 | +1.24% | +11,774 | +42,176 |
| Small CapEquity | +3,824 | +1.03% | +11,707 | +52,321 |
| Multi CapEquity | +2,255 | +1.01% | +7,218 | +35,145 |
Largest category outflows
| Category | Net flow | % of AUM | 3 months | 12 months |
|---|---|---|---|---|
| LiquidDebt | -47,308 | -8.63% | +28,016 | +4,770 |
| Money MarketDebt | -40,464 | -11.33% | -11,444 | +66,994 |
| Ultra Short TermDebt | -17,648 | -11.86% | +5,779 | +13,469 |
| Ultra Short to Short TermDebt | -10,246 | -6.54% | +2,251 | +23,339 |
| Corporate BondDebt | -7,420 | -3.46% | -772 | +21,380 |
| Short TermDebt | -5,690 | -4.01% | -814 | +13,724 |
| Long TermDebt | -1,303 | -6.91% | -2,612 | -3,408 |
| Banking and PSU DebtDebt | -976 | -1.22% | -1,616 | -4,906 |
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 2025 quarter. AMFI publishes fund-house assets as quarterly averages. This is the latest quarter that had ended by Dec 2025; 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 | 12.49 lakh Cr | 15.42% | -0.13 pp | 1 |
| ICICI Prudential Mutual Fund | 10.76 lakh Cr | 13.29% | +0.13 pp | 2 |
| HDFC Mutual Fund | 9.25 lakh Cr | 11.42% | -0.01 pp | 3 |
| Nippon India Mutual Fund | 7.01 lakh Cr | 8.65% | +0.14 pp | 4 |
| Kotak Mahindra Mutual Fund | 5.73 lakh Cr | 7.08% | -0.13 pp | 5 |
| Aditya Birla Sun Life Mutual Fund | 4.43 lakh Cr | 5.47% | -0.04 pp | 6 |
| UTI Mutual Fund | 3.94 lakh Cr | 4.86% | -0.04 pp | 7 |
| Axis Mutual Fund | 3.61 lakh Cr | 4.45% | -0.10 pp | 8 |
| Tata Mutual Fund | 2.24 lakh Cr | 2.77% | -0.05 pp | 9 |
| Mirae Asset Mutual Fund | 2.24 lakh Cr | 2.76% | +0.03 pp | 10was 11 |
Biggest share gainers · quarter
- Nippon India Mutual Fund+0.14 pp
- ICICI Prudential Mutual Fund+0.13 pp
- PPFAS Mutual Fund+0.09 pp
- Motilal Oswal Mutual Fund+0.08 pp
- Invesco Mutual Fund+0.06 pp
Biggest share decliners · quarter
- SBI Mutual Fund-0.13 pp
- Kotak Mahindra Mutual Fund-0.13 pp
- Axis Mutual Fund-0.10 pp
- quant Mutual Fund-0.06 pp
- Tata Mutual Fund-0.05 pp
Rank changes among the top 30
- HSBC Mutual Fund14 → 16
- Mirae Asset Mutual Fund11 → 10
- DSP Mutual Fund10 → 11
- PPFAS Mutual Fund15 → 14
- Invesco Mutual Fund16 → 15
- Motilal Oswal Mutual Fund18 → 17
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
31,002 Cr+17.2% year on year
SIP contribution · 12 months
3.35 lakh CrNeeds 12 published months
SIP assets
16.63 lakh Cr20.7% of industry assets
Contributing SIP accounts
9.79 CrAccounts that paid in this month
Folios
26.13 Cr
+26.40 L on the month · +16.1% 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 · Dec 2025
23new schemes allotted
4,074 Crmobilised
Part of this month’s gross mobilisation — shown separately, never added to category net flow.
| Published category | Schemes | Mobilised | Schemes launched |
|---|---|---|---|
| Flexi Cap Fund | 1 | 2,468 Cr | Abakkus Flexi Cap Fund |
| Sectoral/Thematic Funds | 3 | 969 Cr | Union Consumption Fund, Mirae Asset Infrastructure Fund, Bajaj Finserv Banking and Financial Services Fund |
| Arbitrage Fund | 1 | 213 Cr | JioBlackRock Arbitrage Fund |
| Small Cap Fund | 1 | 131 Cr | Samco Small Cap Fund |
| Index Funds | 5 | 96.00 Cr | Tata BSE Multicap Consumption 50:30:20 Index Fund, Kotak Nifty500 Momentum 50 Index Fund, Navi Nifty Midsmallcap 400 Index Fund, DSP... |
| Multi Asset Allocation | 1 | 89.00 Cr | The Wealth Company Multi Asset Allocation Fund |
| Other ETFs | 8 | 54.00 Cr | Bandhan Silver ETF, Groww Nifty Capital Markets ETF, Motilal Oswal Nifty MNC ETF, Mirae Asset Nifty Top 20 Equal Weight ETF, Groww Nifty... |
| Liquid Fund | 1 | 34.00 Cr | Abakkus Liquid Fund |
| GOLD ETF | 2 | 20.00 Cr | The Wealth Company Gold ETF, Bandhan Gold ETF |
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 2025
1,214companies held
32AMCs reporting
2,330new positions
1,895complete exits
Most AMCs increasing
↗CompanyAMCs
- 01 Kwality Wall's (India) Limited195 comparable portfolios 20
- 02 ICICI Prudential Asset Management Company Limited97 comparable portfolios 18
- 03 Varun Beverages Limited186 comparable portfolios 18
- 04 JSW Steel Limited126 comparable portfolios 18
- 05 Larsen & Toubro Limited335 comparable portfolios 18
- 06 Reliance Industries Limited359 comparable portfolios 18
- 07 ETERNAL LIMITED333 comparable portfolios 18
- 08 ICICI Bank Limited422 comparable portfolios 18
- 09 Petronet LNG Limited75 comparable portfolios 17
- 10 Apollo Hospitals Enterprise Limited218 comparable portfolios 17
Most AMCs reducing
↗CompanyAMCs
- 01 Infosys Limited370 comparable portfolios 21
- 02 State Bank of India374 comparable portfolios 16
- 03 Lupin Limited140 comparable portfolios 14
- 04 Adani Ports and Special Economic Zone Limited162 comparable portfolios 14
- 05 Cipla Limited184 comparable portfolios 14
- 06 United Spirits Limited164 comparable portfolios 13
- 07 Samvardhana Motherson International Limited180 comparable portfolios 13
- 08 TATA CONSUMER PRODUCTS LIMITED167 comparable portfolios 13
- 09 Marico Limited120 comparable portfolios 13
- 10 Asian Paints Limited194 comparable portfolios 13
Largest comparable holding increases
↗CompanyShares
- 01 Vodafone Idea Limited+8.2% · 54 portfolios +23.27 Cr
- 02 Meesho Limited— · 64 portfolios +19.43 Cr
- 03 Bank of Maharashtra+129.9% · 61 portfolios +12.81 Cr
- 04 Kwality Wall's (India) Limited— · 195 portfolios +8.58 Cr
- 05 Swiggy Limited+49.4% · 137 portfolios +8.06 Cr
- 06 Belrise Industries Limited+449.7% · 10 portfolios +5.14 Cr
- 07 Ashok Leyland Limited+15.9% · 96 portfolios +4.06 Cr
- 08 JSW Energy Limited+101.5% · 87 portfolios +3.06 Cr
- 09 The Federal Bank Limited+5.4% · 179 portfolios +2.94 Cr
- 10 GMR AIRPORTS LIMITED+24.2% · 78 portfolios +2.89 Cr
Largest comparable holding decreases
↗CompanyShares
- 01 HFCL LIMITED-91.9% · 31 portfolios -3.86 Cr
- 02 ETERNAL LIMITED-1.8% · 333 portfolios -2.87 Cr
- 03 Bharat Electronics Limited-3.1% · 294 portfolios -2.21 Cr
- 04 Canara Bank-8.5% · 126 portfolios -2.16 Cr
- 05 Bank of Baroda-7.9% · 161 portfolios -2.01 Cr
- 06 NMDC Limited-4.6% · 84 portfolios -1.99 Cr
- 07 FSN E-Commerce Ventures Limited-5.7% · 130 portfolios -1.90 Cr
- 08 Infosys Limited-3.3% · 370 portfolios -1.72 Cr
- 09 Tata Motors Passenger Vehicles Limited-8.9% · 152 portfolios -1.56 Cr
- 10 Bajaj Finance Limited-3.3% · 303 portfolios -1.46 Cr
Most new positions
↗CompanyPositions
- 01 Kwality Wall's (India) Limited195 comparable portfolios 195
- 02 ICICI Prudential Asset Management Company Limited97 comparable portfolios 97
- 03 Meesho Limited64 comparable portfolios 64
- 04 Shriram Finance Limited245 comparable portfolios 48
- 05 Hero MotoCorp Limited188 comparable portfolios 27
- 06 The Federal Bank Limited179 comparable portfolios 25
- 07 Ashok Leyland Limited96 comparable portfolios 25
- 08 AU Small Finance Bank Limited132 comparable portfolios 25
- 09 InterGlobe Aviation Limited288 comparable portfolios 24
- 10 Eicher Motors Limited196 comparable portfolios 23
Most complete exits
↗CompanyExits
- 01 InterGlobe Aviation Limited288 comparable portfolios 55
- 02 Kaynes Technology India Limited114 comparable portfolios 35
- 03 Dixon Technologies (India) Limited226 comparable portfolios 35
- 04 Tata Motors Passenger Vehicles Limited152 comparable portfolios 27
- 05 Coforge Limited213 comparable portfolios 26
- 06 Max Healthcare Institute Limited194 comparable portfolios 23
- 07 Bharat Dynamics Limited84 comparable portfolios 21
- 08 Mazagon Dock Shipbuilders Limited96 comparable portfolios 21
- 09 SBI Cards and Payment Services Limited115 comparable portfolios 20
- 10 Divi's Laboratories Limited196 comparable portfolios 20
Most widely held stocks
CompanyAMCs
- 01 HDFC Bank Limited454 portfolios 32
- 02 ICICI Bank Limited440 portfolios 32
- 03 State Bank of India394 portfolios 32
- 04 Bharti Airtel Limited400 portfolios 31
- 05 Reliance Industries Limited389 portfolios 31
- 06 Larsen & Toubro Limited360 portfolios 31
- 07 Bajaj Finance Limited313 portfolios 31
- 08 Bharat Electronics Limited295 portfolios 31
- 09 Titan Company Limited251 portfolios 31
- 10 Kotak Mahindra Bank Limited344 portfolios 30
Broader ownership
↗CompanyΔ AMCs
- 01 ICICI Bank Limited32 AMCs now +5
- 02 BSE Limited27 AMCs now +5
- 03 Tata Motors Passenger Vehicles Limited27 AMCs now +5
- 04 Reliance Industries Limited31 AMCs now +4
- 05 Gujarat Mineral Development Corporation Limited10 AMCs now +4
- 06 Ashok Leyland Limited22 AMCs now +4
- 07 Tata Power Company Limited25 AMCs now +4
- 08 ZF Commercial Vehicle Control Systems India Limited20 AMCs now +4
- 09 FORCE MOTORS LTD14 AMCs now +4
- 10 Astral Limited18 AMCs now +3
Narrower ownership
↗CompanyΔ AMCs
- 01 HFCL LIMITED9 AMCs now -7
- 02 Cyient Limited14 AMCs now -4
- 03 InterGlobe Aviation Limited23 AMCs now -4
- 04 BOSCH HOME COMFORT INDIA LIMITED4 AMCs now -4
- 05 Canara Bank21 AMCs now -3
- 06 SKF India (Industrial) Limited10 AMCs now -2
- 07 TD Power Systems Limited13 AMCs now -2
- 08 SKF India Limited11 AMCs now -2
- 09 Central Depository Services (India) Limited18 AMCs now -2
- 10 Kaynes Technology India Limited17 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 | Dec 2025 | Monthly | Aug 2026 |
| SIP contribution & assets | Dec 2025 | Monthly (from Jun 2024) | Aug 2026 |
| New fund offers | Dec 2025 | Monthly | Aug 2026 |
| Fund-house assets & market share | Oct–Dec 2025 | Quarterly average | Apr–Jun 2026 |
| Equity holdings | Dec 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 →