The January to March 2025 quarter was marked by heightened market volatility. Amidst this dynamic environment, mutual fund houses witnessed contrasting trends in their Assets Under Management (AUM).
While some registered robust growth in average AUM, others saw a notable decline. The latest data released by the Association of Mutual Funds in India (AMFI) offers valuable insight into the top gainers and losers in this space.
Motilal Oswal Mutual Fund posted the highest increase in average AUM in absolute terms. The fund house’s average AUM surged by over ₹6,300 crore, growing from ₹86,700 crore in the previous quarter to ₹93,000 crore in the January–March 2025 period.
Parag Parikh Financial Advisory Services (PPFAS) Mutual Fund recorded an impressive increase of ₹5,900 crore in average AUM. The fund house’s assets rose from ₹95,800 crore to ₹1.02 lakh crore, placing it second on the leaderboard.
ICICI Prudential MF, a major player in the industry, added more than ₹5,400 crore to its average AUM, increasing from ₹8.74 lakh crore to ₹8.79 lakh crore over the quarter.
Bajaj Finserv Mutual Fund and WhiteOak Capital Mutual Fund rounded out the top 5, with gains of ₹1,700 crore and ₹1,300 crore, respectively. These gains reflect growing investor interest across their product offerings.
LIC Mutual Fund joined the list of gainers with a growth of over ₹1,000 crore in average AUM. A few other mid-sized players also reported modest but positive AUM growth during the quarter.
SBI Mutual Fund, India’s largest fund house by total AUM, saw the most significant fall in the quarter. Its average AUM declined by more than ₹41,000 crore, indicating notable outflows or valuation erosion during the period.
HDFC Mutual Fund and Nippon India Mutual Fund also experienced sharp declines of ₹13,400 crore and ₹12,800 crore, respectively. These drops could be linked to profit booking, market fluctuations, or reallocation by investors.
More than a dozen fund houses witnessed a decline of over ₹1,000 crore in their average AUM, including:
This trend underscores the broader impact of volatility and shifting investor sentiment in the mutual fund industry.
When viewed in percentage terms, Trust Mutual Fund and Old Bridge Mutual Fund recorded stellar performance, growing their average AUM by more than 20% in Q4 FY25.
Other gainers above 5%
Several other fund houses achieved over 5% growth in average AUM, such as:
These growth figures suggest increasing traction, especially among newer and boutique fund houses.
On the flip side, a few notable mutual fund houses witnessed over 5% decline in their assets, including:
Such declines may be the result of a mix of performance-related redemptions, valuation changes, or reduced investor flows.
The AMFI’s Q4 FY25 data paints a clear picture of divergence in the mutual fund industry. While Motilal Oswal MF and other emerging fund houses demonstrated strong AUM growth, large players like SBI MF faced substantial declines. These shifts reflect not only market movements but also evolving investor preferences and fund positioning. Though this information is purely for reference and educational use, it offers an interesting snapshot of the dynamic mutual fund landscape in India.
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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.
Published on: Apr 4, 2025, 3:33 PM IST
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