India’s Mutual Fund AUM Jumps 143% Since 2021, With Passive Assets Up 324% and Equity Funds Rising 224%

India’s mutual fund Assets Under Management (AUM) increased to ₹85.76 lakh crore in July 2026 from ₹35.32 lakh crore in July 2021, a rise of 143% over 5 years, according to The Moneycontrol news report citing ICRA Analytics. 

The increase came largely from equity and passive schemes. Hybrid funds also reported higher assets, while debt funds grew at a slower rate. 

Passive Products Report the Largest Gain 

Assets in ETFs and index funds rose 324% during the period, reaching ₹15.15 lakh crore from ₹3.57 lakh crore. This was the highest growth among the major mutual fund categories. 

Passive fund folios increased from 0.92 crore to 5.54 crore over the five years. Net inflows into ETFs were also 70.8% higher. 

Equity Fund Assets Rise 224% 

Equity fund AUM increased 224% to ₹38.40 lakh crore in July 2026 from ₹11.87 lakh crore in July 2021. The number of equity folios rose to 18.75 crore from 7.18 crore. 

Overall, mutual fund folios increased to 28.09 crore from 10.55 crore during the same period, with equity and passive schemes accounting for a large share of the rise. 

Hybrid Schemes Add to Asset Growth 

Hybrid fund assets rose 183% to ₹11.68 lakh crore from ₹4.12 lakh crore. These schemes invest across different asset classes, including equity and debt. 

The increase placed hybrid funds among the faster-growing segments of the mutual fund industry over the five-year period. 

Debt Funds Trail Other Categories 

Debt-oriented fund assets increased 27% to ₹19.46 lakh crore from ₹15.28 lakh crore. Debt fund folios rose only marginally, reaching 0.95 crore from 0.81 crore. 

However, net inflows into debt funds increased 192.5%. Equity fund inflows rose 19% over the same five-year period. 

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Conclusion 

The five-year data shows that equity and passive schemes accounted for much of the growth in India’s mutual fund industry. Hybrid funds also expanded sharply, while debt fund assets grew at a slower pace. 

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