Mutual Fund AUM Surge: Top Fund Houses of CY 2024

The mutual fund industry in India has witnessed remarkable growth in 2024, with data from the Association of Mutual Funds in India (AMFI) showcasing significant expansion across multiple fund houses. In this analysis, we explore the asset under management (AUM) growth trends, highlighting the leading players and their performance over the past year.

Top Performers in AUM Growth

• SBI Mutual Fund: Leading the Pack

SBI Mutual Fund has emerged as the leader in absolute AUM growth. Its AUM increased by ₹2.63 lakh crore, climbing from ₹8.51 lakh crore in December 2023 to ₹11.14 lakh crore in December 2024. 

• ICICI Prudential Mutual Fund: Close Second

ICICI Prudential MF holds the second position, with its AUM growing by ₹2.59 lakh crore. The fund house’s AUM rose from ₹6.15 lakh crore in December 2023 to ₹8.74 lakh crore in December 2024. 

• HDFC Mutual Fund: Completing the Top Three

HDFC MF ranks third, recording an AUM growth of ₹2.36 lakh crore. Its AUM expanded from ₹5.52 lakh crore in December 2023 to ₹7.87 lakh crore in December 2024. 

Other Significant Players

Nippon India and Kotak Mutual Funds

Nippon India MF and Kotak MF secured the 4 and 5 spots, respectively, in absolute AUM growth.

• Nippon India MF saw an increase of ₹1.92 lakh crore, reaching ₹5.70 lakh crore in December 2024.
• Kotak MF reported a rise of ₹1.38 lakh crore, with its AUM growing from ₹3.51 lakh crore to ₹4.89 lakh crore during the same period.

Fund Houses with Over ₹1 Lakh Crore Growth

Several other fund houses reported an increase in AUM exceeding ₹1 lakh crore, including UTI MF, Aditya Birla Sun Life MF, Axis MF, DSP MF, and Tata MF. These fund houses continue to consolidate their positions in the industry through diversified investment strategies.

Percentage Growth Leaders

• Helios Mutual Fund: Impressive Growth

Helios MF recorded a remarkable 649% growth, with its AUM rising from ₹392 crore to ₹2,936 crore over the year. The fund house’s innovative approach has been instrumental in this success.

• Other Fast-Growing Fund Houses

Bajaj Finserv MF, JM Financial MF, and Shriram MF also demonstrated robust growth of over 150% in their AUM during 2024, showcasing strong market penetration.

Industry-Wide AUM Growth

The overall mutual fund industry recorded an impressive AUM growth of ₹19.39 lakh crore in 2024, rising from ₹49.23 lakh crore in December 2023 to ₹68.62 lakh crore in December 2024. This 40% increase reflects the expanding investor base and growing preference for mutual funds as an investment avenue.

Want to plan regular withdrawals? Our SWP Calculator helps you calculate how much you can withdraw while keeping your investments intact. Try it now!

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 are subject to market risks, read all scheme-related documents carefully.