Top 3 Mutual Funds by Direct Plan AUM: SBI, ICICI Prudential and HDFC Take the Lead

Direct plans are mutual fund schemes offered directly by asset management companies (AMCs), bypassing intermediaries or distributors. These plans have lower expense ratios and are often chosen by investors who seek to maximise returns by avoiding distribution costs.

SBI Mutual Fund: Leading the Pack in Direct Plan AUM

SBI Mutual Fund holds the top position with the highest direct plan assets under management (AUM) at ₹5.98 lakh crore. Notably, 56% of the fund house’s total AUM comes from direct plans. 

ICICI Prudential Mutual Fund: Ranked Second in Direct Plan AUM

ICICI Prudential Mutual Fund ranks 2nd, managing ₹4.22 lakh crore in direct plan AUM. Direct investments account for 48% of the fund house’s total AUM. 

HDFC Mutual Fund: Third Largest in Direct Plan AUM

HDFC Mutual Fund stands third with direct plan AUM amounting to ₹3.23 lakh crore. Approximately 42% of its total AUM stems from direct plans. 

Read More: AMC AUM race: Who’s zooming ahead and who’s falling behind?

Industry-Wide Shift: 47% of Total AUM from Direct Plans

According to the report, 47% of the mutual fund industry’s total AUM now originates from direct plans. This marks a substantial move towards transparency and cost-efficiency, driven by rising investor awareness and improved digital access.

Conclusion

The increasing share of direct plans among India’s top fund houses — SBI MF, ICICI Prudential MF, and HDFC MF — highlights a major industry transformation. As investors grow more confident and informed, direct plans are carving out a prominent space in the mutual fund landscape.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.