ICICI Prudential, SBI and HDFC Mutual Fund Cross ₹5 Lakh Crore in Regular AUM

In a remarkable milestone for the Indian mutual fund industry, ICICI Prudential Mutual Fund, SBI Mutual Fund, and HDFC Mutual Fund have each exceeded ₹5,00,000 crore in regular plan assets under management (AUM), signalling strong growth momentum and widespread reliance on distributor networks, as per Cafemutual analysis.

Top 3 Mutual Funds Surpass ₹5 Lakh Crore in Regular AUM

As of September 2025, ICICI Prudential Mutual Fund leads the charge with ₹5,22,441 crore in regular AUM, followed closely by SBI Mutual Fund at ₹5,21,057 crore and HDFC Mutual Fund with ₹5,04,755 crore. 

These are currently the only asset management companies (AMCs) to cross this significant mark in regular plan AUM, demonstrating their strong market penetration and robust partnerships with distributors.

Regular AUM Accounts for Majority of Industry Assets

The total regular plan AUM stands at ₹40,68,012 crore, accounting for 52% of the total AUM of ₹77,76,783 crore managed by the Indian mutual fund industry. 

This indicates that over half of the industry operates through regular plans, underscoring investor dependence on intermediaries.

Other Key Players in the ₹1 Lakh Crore Club

Beyond the top 3, Nippon India Mutual Fund, Kotak Mutual Fund and UTI Mutual Fund also hold strong positions with regular AUM of ₹2,86,398 crore, ₹2,79,133 crore and ₹2,73,127 crore, respectively. 

Additionally, fund houses like Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Mirae Asset and Tata Mutual Fund have joined the elite club with regular AUM above ₹1,00,000 crore.

Read More: Mutual Fund Industry Gains 28 Lakh Investors Despite Negative Returns in H1 FY26!

High-Dependency AMCs and Emerging Trends

Some AMCs show high reliance on distributors, such as Samco Mutual Fund (91%), Mahindra Manulife (86%) and WhiteOak Mutual Fund (83%). In contrast, emerging players like Zerodha Mutual Fund and Jio BlackRock Mutual Fund reported zero regular AUM, suggesting their preference for direct digital channels and highlighting a dual-speed evolution in mutual fund distribution.

Conclusion

The achievement of ₹5,00,000 crore regular AUM by ICICI Prudential, SBI and HDFC Mutual Fund illustrates the continuing strength of distributor-led mutual fund investments in India. As the landscape evolves, distribution strategies and investor preferences will likely shape future AUM growth patterns.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or 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.

Investments in Mutual Funds are subject to market risks. Read all related documents carefully before investing.