Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | AMFI Registered MF Distributor | ARN-0158
₹87.22 Lakh Crore and Rising: India’s Mutual Fund Industry Scales New Peak
Fresh Peak for Average AUM on Strong Quarterly Expansion: The mutual fund industry’s Average AUM climbed to a fresh record of ₹87.22 lakh crore in the July-September 2026 quarter, registering 13.06% YoY growth and a strong 4.90% QoQ increase. Industry AAUM expanded by around ₹4.08 lakh crore over the previous quarter, marking a significant acceleration in quarterly growth compared with April-June 2026. The continued rise reflects broad-based expansion across the mutual fund industry, sustained investor participation, and the increasing adoption of mutual funds as a long-term savings and investment avenue.
SBI MF Retains Top Spot, Crosses ₹13 Lakh Cr AAUM: SBI Mutual Fund continued to retain its leadership position, crossing the ₹13 lakh crore AAUM milestone in the July-September 2026 quarter, with Average AUM of ₹13.10 lakh crore. The fund house recorded 9.18% YoY growth and 4.16% QoQ growth, while maintaining a market share of 15.02%. This also marks the 27th consecutive quarter of SBI MF retaining its position as India’s largest fund house, reflecting its sustained scale and strong investor base. Notably, SBI Mutual Fund and ICICI Prudential Mutual Fund remain the only two AMCs in India with Average AUM exceeding ₹11 lakh crore, with ICICI Prudential Mutual Fund’s AAUM at ₹11.56 lakh crore during the quarter.
AAUM Growth Leaders Drive Industry Expansion: The mutual fund industry’s leading players delivered strong growth in the July-September 2026 quarter, with SBI Mutual Fund posting the highest absolute increase in Average AUM at ₹52,255 crore during the quarter. ICICI Prudential Mutual Fund followed with an addition of ₹41,326 crore, while Nippon India Mutual Fund, HDFC Mutual Fund and Kotak Mahindra Mutual Fund added ₹35,534 crore, ₹33,976 crore and ₹23,656 crore, respectively. The broad-based expansion among the industry’s largest fund houses highlights their continued ability to attract investor flows and scale assets, supporting the mutual fund industry’s record AAUM growth during the quarter.
New and Rising AMCs Continue to Gain Ground: Newer and fast-scaling AMCs continued to strengthen their presence during the July–September 2026 quarter. Abakkus Mutual Fund recorded particularly strong sequential growth, with AAUM rising to ₹10,101 crore from ₹5,580 crore in the previous quarter, while Jio BlackRock Mutual Fund expanded further to ₹22,467 crore from ₹17,979 crore in April–June 2026. The quarter also saw notable ranking upgrades, with Helios Mutual Fund gaining 3 positions, Abakkus Mutual Fund and Trust Mutual Fund gaining 2 positions each, and Mirae Asset, Motilal Oswal and The Wealth Company moving up 1 position each.
Top Percentage Gainers: Emerging AMCs Deliver Sharp AAUM Expansion: Several emerging and mid-sized AMCs recorded strong percentage growth in the July-September 2026 quarter. Choice, Abakkus, Trust, The Wealth Company, Old Bridge, Helios, Groww, Jio BlackRock, WhiteOak Capital, Bank of India, Bajaj Finserv, Invesco, Unifi, and Motilal Oswal were among the key gainers. The trend highlights that AAUM expansion remained broad-based beyond the large incumbents, with newer and challenger AMCs continuing to scale and strengthen their presence in the industry.
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