AUM of Mutual Fund rises 23% in FY25 to ₹65.74 lakh crore

#MFAUMrisesto66lakhcr

The growth was driven by net inflows of ₹8.15 lakh crore and mark-to-market gains in both equity and debt segments

Mumbai: The Indian mutual fund industry closed FY25 with total assets under management (AUM) at ₹65.74 lakh crore. In total, the industry registered a 23.1% year-on-year increase from ₹53.40 lakh crore in FY24, according to data from the Association of Mutual Funds in India (AMFI).

The growth was driven by net inflows of ₹8.15 lakh crore and mark-to-market gains in both equity and debt segments.

Equity-oriented schemes accounted for the highest net inflows in FY25 at ₹4.17 lakh crore, more than double the inflows recorded in the previous fiscal year. The segment’s AUM rose to ₹29.45 lakh crore, supported by both fresh investments and positive equity market returns. Sectoral/Thematic, Flexi Cap, and Mid Cap funds together made up 43% of the equity AUM as of March 2025. The industry launched 70 equity new fund offers (NFOs), mobilising ₹85,244 crore, AMFI said.

Debt-oriented funds saw a reversal of the previous trend, with net inflows of ₹1.38 lakh crore in FY25, compared to outflows of ₹0.23 lakh crore in FY24.

The AUM of the segment rose to ₹15.21 lakh crore. Money market and liquid funds recorded the highest net inflows among debt categories, aided by favourable interest rate movements and yield curve shifts.

Hybrid funds’ AUM increased 22.2% year-on-year to ₹8.83 lakh crore, with net inflows of ₹1.19 lakh crore. Arbitrage and multi-asset allocation funds contributed significantly to these inflows.

Passive funds’ AUM rose to ₹11.47 lakh crore, with net inflows of ₹1.4 lakh crore. The year saw the launch of 150 passive fund schemes, mobilising ₹1.5 lakh crore.

SIPs expand

SIP contributions rose 45.2% to ₹2.89 lakh crore in FY25. SIP AUM increased to ₹13.35 lakh crore, making up 20.3% of the industry’s total AUM. The number of contributing SIP accounts rose to 8.11 crore, up from 6.38 crore the previous year.

The total number of mutual fund folios rose 32% to 23.45 crore in FY25. Equity-oriented scheme folios increased to 16.38 crore, constituting around 70% of total folios. Hybrid and other schemes also recorded growth in folio numbers, while debt-oriented scheme folios declined marginally.

Women and individual investor participation

Women comprised 25.9% of the mutual fund investor base in FY25, up from 24.2% in FY24. Individual investors, including retail and HNIs, held 63.2% of total industry AUM, with equity funds accounting for the majority of their investments.

Top five cities—Mumbai, New Delhi, Bengaluru, Pune, and Kolkata—accounted for 52.5% of India’s mutual fund AUM. Younger investors contributed a higher share of equity flows, while older investors showed preference for hybrid and debt schemes