Who’s Leading in Regular Plan Equity AUM?

As of June 2025, the Indian mutual fund industry’s equity assets have touched ₹49.39 lakh crore. Out of this, ₹32.20 lakh crore (or 65%) comes through regular plans — investments made via intermediaries or distributors. A detailed analysis by Cafemutual highlights which fund houses are dominating this space.

ICICI, SBI, and HDFC MF at the Top

The top three fund houses in terms of equity AUM under regular plans are:

     ICICI Prudential Mutual Fund

• Regular equity AUM: ₹4.10 lakh crore
• 62% of its equity AUM comes through distributors

• Ranks #1 in this category despite being #2 by overall AUM

  SBI Mutual Fund

• Regular equity AUM: ₹4.10 lakh crore (rounded off)
• 48% of its equity AUM is regular

• India’s largest fund house by total AUM

  HDFC Mutual Fund

• Regular equity AUM: ₹3.97 lakh crore
• 72% of equity AUM via distributors

Other Big Players Crossing ₹2 Lakh Crore

• Nippon India MF – ₹2.36 lakh crore
• UTI MF – ₹2.32 lakh crore
• Notably, 85% of UTI’s equity AUM comes through the regular route — the highest among top fund houses
• Kotak MF – ₹2.01 lakh crore (74% regular)

Mid-Sized Mutual Fund Houses with Strong Presence

These fund houses also manage over ₹1 lakh crore in equity AUM through regular plans:

• Axis MF – ₹1.44 lakh crore
• Aditya Birla Sun Life MF – ₹1.37 lakh crore
• Mirae Asset MF – ₹1.22 lakh crore
• DSP MF – ₹1.03 lakh crore

Together, the top five players each have over ₹2 lakh crore coming through the distributor channel.

Direct vs Regular: What Should You Choose?

While regular plans offer guidance through advisors or relationship managers, direct plans are available through various brokerage platforms, where you can invest using your demat account with lower fees.

Depending on your knowledge, comfort, and investment goals, you can choose what works best — advice-based or DIY investing.

Read more: Invested ₹5 Lakh in HDFC Gold ETF 5 Years Ago: How Much is it Worth Now?

Conclusion

India’s mutual fund space continues to grow, with most equity investments still routed through regular plans. ICICI, SBI, and HDFC lead the charge in terms of absolute size, while smaller funds like Union and Baroda BNP rely heavily on distributors. As an investor, staying informed helps you make smarter, cost-effective decisions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/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.