Top Mutual Funds in India by Equity AUM: SBI, ICICI Prudential, HDFC Lead in March 2026 Data

As of March 2026, SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund are the top 3 fund houses in India by equity AUM, as per CafeMutual Analysis.  

These fund houses have demonstrated significant growth in their equity assets, contributing a substantial portion to the mutual fund industry's total assets. 

SBI Mutual Fund: Leading the Pack 

SBI Mutual Fund stands as the leader with an equity AUM of ₹9,12,530.40 crore, accounting for 75.3% of its total AUM of ₹12,11,535 crore.  

This dominance is attributed to its diverse portfolio of pure equity, equity-oriented hybrid funds, and equity passive funds. 

ICICI Prudential and HDFC Mutual Fund: Strong Contenders 

ICICI Prudential Mutual Fund ranks second with an equity AUM of ₹7,03,959.75 crore, making up 65.5% of its total assets.  

HDFC Mutual Fund follows closely with ₹6,19,961.40 crore in equity AUM, representing 68.8% of its total AUM. Both fund houses have a robust presence in the equity market. 

Read More: Mutual Funds Shift Focus to Banks, Cut Exposure to Commodity and PSU Shares Amid Market Downturn in March 2026! 

Other Notable Players 

Nippon India Mutual Fund and Kotak Mahindra Mutual Fund hold the 4th and 5th positions with equity AUMs of ₹4,69,821.28 crore and ₹3,61,437.73 crore, respectively.  

UTI Mutual Fund, Axis Mutual Fund, and Aditya Birla Sun Life Mutual Fund also feature prominently in the top 10, showcasing their strong market positions. 

Industry Overview 

Overall, equity funds constitute 68% of the mutual fund industry’s total assets, with equity AUM standing at ₹53.96 lakh crore out of the overall AAUM of ₹79.42 lakh crore as of March 2026. 

This highlights the significant role of equity funds in the mutual fund landscape. 

Conclusion 

The data as of March 2026 illustrates the dominance of SBI, ICICI Prudential, and HDFC in the equity AUM space. These fund houses, along with other key players, contribute significantly to the mutual fund industry's growth, reflecting a strong preference for equity investments among investors. 

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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.