October AAUM: Maharashtra and Delhi Feature in the Top 10 Contributors

The average assets under management (AAUM) for October 2025 show a clear dominance by Maharashtra and Delhi, with both states ranking among the top 10 contributors. According to data from Franklin Templeton Mutual Fund, the AAUM held by the top 10 states stood at ₹79.79 lakh crore, highlighting the strong geographical concentration in mutual fund holdings. 

Maharashtra and Delhi Lead in AAUM Contributions 

Maharashtra maintained its leading position by contributing ₹32.74 lakh crore to the total AAUM in October 2025, up from ₹27.89 lakh crore in October 2024. Delhi came in second, contributing ₹6.37 lakh crore, compared to ₹5.52 lakh crore last year. The two continue to be strongholds for mutual fund investors, particularly due to the financial hubs located in these regions. 

Other Key Contributors: Gujarat and Karnataka Close Behind 

Gujarat and Karnataka followed closely with ₹5.47 lakh crore and ₹5.46 lakh crore respectively in October 2025. Both states saw notable year-on-year growth from ₹4.82 lakh crore and ₹4.72 lakh crore in October 2024. This growth highlights increasing financial penetration and investor participation in these states. 

Read More: AUM Growth in October 2025: 8 AMCs Record Over ₹20,000 Crore AUM Growth Led by SBI Mutual Fund! 

Rising Investments Across States 

West Bengal contributed ₹3.83 lakh crore in October, up from ₹3.42 lakh crore last year. Uttar Pradesh followed with ₹3.73 lakh crore, rising from ₹3.26 lakh crore. Tamil Nadu and Haryana reported contributions of ₹3.60 lakh crore and ₹2.70 lakh crore respectively. Rajasthan and Telangana also made it to the list, adding ₹1.53 lakh crore and ₹1.35 lakh crore respectively to the total AAUM. 

Others Combined: ₹12.96 Lakh Crore Contribution 

The combined contribution from all other states stood at ₹12.96 lakh crore in October 2025, growing from ₹11.05 lakh crore in October 2024. This indicates a broadening base for mutual fund investments beyond traditionally dominant regions. 

Conclusion 

In October 2025, Maharashtra and Delhi remained the top states in AAUM contributions, supported by key players like Gujarat, Karnataka, and others. With a total of ₹79.79 lakh crore from the top 10 states, the data signals continued investor confidence and regional growth in mutual fund investments. 

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. 

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