Amfi Data Reveals 5 Fund Houses Led FY25 with 31.6 Million New Folios

FY25 turned out to be a landmark year for mutual fund participation in India, with total folio additions touching 54.9 million. Interestingly, 5 fund houses: Nippon India, HDFC, Motilal Oswal, ICICI Prudential, and SBI, contributed a substantial 58% of this growth, according to data released by the Association of Mutual Funds in India (AMFI).

These 5 players alone added a net of 31.6 million investment accounts, underlining their dominant position in India’s growing mutual fund ecosystem.

What Drove the Surge in Folio Additions?

The momentum in folio growth among these 5 fund houses is attributed to several converging factors:

• Strong equity fund performance: Equity funds continued to attract retail investors amid bullish market sentiment.
   
• Wide distribution networks: Established players like SBI, HDFC, and ICICI Prudential leveraged their extensive presence across cities and towns to tap into new investors.
   
• Aggressive New Fund Offers (NFOs): Particularly in the case of Motilal Oswal, multiple NFOs in the equity space significantly boosted their folio base.

Motilal Oswal: The Standout Performer of FY25

While the other 4 players have consistently remained among the top fund houses, Motilal Oswal emerged as a notable gainer this year.

• It witnessed the fastest folio growth among the top 20 AMCs, with its account base more than tripling in FY25.
   
• The fund house closed the year with 9.4 million folios, driven by investor interest in its equity offerings and strategic NFO pipeline.

This performance marks a significant milestone for Motilal Oswal, reflecting the growing investor confidence in boutique and thematic fund managers.

Top Fund Houses: The Broader Landscape

Beyond the top 5, several other fund houses also witnessed healthy growth in investor accounts:

• Tata Mutual Fund
   
• Quant Mutual Fund
   
• Kotak Mahindra Mutual Fund
   
• Aditya Birla Sun Life Mutual Fund
   
• Parag Parikh Financial Advisory Services (PPFAS)

These players completed the top 10 list, highlighting a broader participation trend across both established and niche AMCs.

Leaders in Total Folios by Year-End

By the end of FY25, the mutual fund industry’s top folio holders were:

• Nippon India
   
• ICICI Prudential
   
• HDFC Mutual Fund
   
• SBI Mutual Fund
   
• Axis Mutual Fund

These names collectively represent a significant portion of the investor base, reinforcing their dominant standing in the Indian mutual fund industry.

Read More: Parag Parikh Flexi Cap Fund Crosses ₹1 Lakh Crore AUM: ₹10,000 SIP Turned Over ₹51 Lakh Since Inception

Conclusion

The FY25 data from Amfi reveals a striking concentration of folio growth among the top five fund houses, indicating their continued appeal among Indian investors. While performance and distribution remain key growth levers, innovation in fund offerings and investor outreach is also proving to be critical drivers of success in a rapidly evolving market.

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