Top 3 Mutual Fund Players in Direct Plans: SBI, ICICI Prudential and Nippon India Lead Direct AUM in 2025

SBI Mutual Fund, ICICI Prudential Mutual Fund and Nippon India Mutual Fund have emerged as the three largest holders of direct plan assets in 2025, according to the latest AUM data released by Cafemutual. 

SBI, ICICI and Nippon India Lead Direct AUM 

SBI Mutual Fund reports direct plan assets of ₹7.24 lakh crore, representing 57.5% of its total AUM of ₹12.59 lakh crore. ICICI Prudential Mutual Fund holds ₹5.49 lakh crore in direct plans, accounting for 50.0% of its total AUM of ₹10.98 lakh crore. Nippon India Mutual Fund records ₹4.18 lakh crore in direct assets, which is 58.7% of its total AUM of ₹7.12 lakh crore. 

Industry Share of Direct AUM 

The top 5 fund houses together manage direct assets of ₹24 lakh crore out of a total industry direct AUM of approximately ₹40 lakh crore, representing over 60% of the sector. HDFC Mutual Fund and Kotak Mahindra Mutual Fund rank fourth and fifth with direct assets of ₹4.12 lakh crore and ₹2.94 lakh crore respectively. 

Read More: Equity and Mutual Fund Share in Household Savings Rises to 15% as SIP Contributions Grow Sevenfold! 

Growth Highlights in 2025 

5 AMCs added more than ₹50,000 crore each to their direct AUM. ICICI Prudential Mutual Fund and Nippon India Mutual Fund were the only houses to increase direct assets by over ₹1 lakh crore, posting growth of 31.4% and 32.8% respectively.  

SBI Mutual Fund added ₹92,791 crore, HDFC Mutual Fund added ₹79,068 crore and Kotak Mahindra Mutual Fund added ₹54,279 crore to their direct portfolios. 

Conclusion 

The data confirms that SBI, ICICI and Nippon India dominate the direct plan segment, together holding more than half of the industry’s direct AUM. Their substantial contributions, along with notable growth from other AMCs, underline the increasing importance of direct plans in the mutual fund landscape. 

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. 

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