Who Are the Top Passive Players in Indian Mutual Funds? SBI Mutual Fund, Nippon on Top

India's passive investment landscape is rapidly expanding, with leading mutual fund houses increasingly offering index funds and ETFs, as per Cafemutual Fund Analysis. In terms of passive Assets Under Management (AUM), SBI Mutual Fund, Nippon India Mutual Fund and UTI Mutual Fund have emerged as clear leaders in the space.

Top Fund Houses by Passive AUM

As of Q1 FY26, SBI Mutual Fund leads the Indian passive investment segment, managing ₹3,73,434 crore in passive AUM. This accounts for 31.67% of its total AUM of ₹11,79,043 crore. Nippon India Mutual Fund manages ₹1,95,968 crore in passive assets, representing 30.66% of its ₹6,39,225 crore total. UTI Mutual Fund follows with ₹1,60,984 crore, which makes up 43.3% of its ₹3,71,772 crore AUM.

High Proportion of Passive Players

Fund houses focusing exclusively or largely on passive products include Angel One with 100% passive AUM, Zerodha with 98.7%, and Navi with 89.35%. Groww also stands out by maintaining 57.4% of its ₹2,219 crore AUM in passive schemes. Edelweiss manages ₹76,683 crore passively, which is 50.32% of its total assets.

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Leaders in Index Funds and ETFs

ICICI Prudential Mutual Fund tops in index funds with ₹42,908 crore. HDFC Mutual Fund and UTI Mutual Fund follow with ₹41,985 crore and ₹40,674 crore, respectively, while SBI Mutual Fund ranks fourth at ₹31,873 crore. For ETFs, SBI Mutual Fund again takes the lead with ₹3.41 lakh crore, followed by Nippon India at ₹1.79 lakh crore and UTI Mutual Fund with ₹1.20 lakh crore.

Commodity ETF Leaders

Among commodity ETFs, Nippon India Mutual Fund manages the most with ₹29,043 crore, followed by ICICI Pru Mutual Fund at ₹13,832 crore and HDFC Mutual Fund at ₹11,111 crore. The growing demand for gold and silver ETFs continues to support this segment.

Conclusion

The passive investment ecosystem in India is witnessing significant traction, with SBI, Nippon India, and UTI Mutual Fund dominating the space. Their leadership across index funds, ETFs and a high proportion of passive AUM indicates the growing shift in investor preferences towards low-cost and transparent investment options.

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.