Month: October 2026

Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | AMFI Registered MF Distributor | ARN-0158

₹1,96,613 crore came back into debt funds after quarter-end redemptions, led by Liquid Funds (+₹1,66,120 crore, +25.7%), Money Market Funds (+₹14,826 crore) and Overnight Funds (+₹9,138 crore)

₹1,88,969 crore went into paper maturing within three months, while universe modified duration fell to 0.99 years from 1.13 years

₹46,856 crore of CP and ₹19,623 crore of CDs were bought as money-market yields rose; the 3-month CD rate rose 50 bps to 6.80%

₹8,917 crore of paper maturing beyond one year was sold on a net basis, mostly beyond five years (₹8,825 crore), while the 1–3 year bucket saw marginal net buying of ₹1,105 crore

Money went to the short end, where yields rose most. The hike repriced T-Bills, CPs and CDs sharply, and managers used the post-quarter-end inflows to lock in those yields at low risk. Buying was concentrated in T-Bills and PSU CPs maturing between December and February, so this paper comes back to funds around the RBI’s December policy. Managers are earning carry while keeping the option to reinvest once the next policy signal is clear.

Managers sold the long end after the rate hike. The RBI’s move to “calibrated tightening” and a higher inflation print led managers to cut long-dated G-Sec holdings. The 10-year benchmark 6.94% GOI 2036 was the most actively traded security and was net sold, and selling in the 2065 and 2066 bonds was almost one-sided. Nine of the top ten net-traded long gilts were net sold. With near-term rate cuts ruled out, managers see little reason to hold duration and are likely to stay underweight the long end until inflation and crude oil settle.

Duration funds raised cash rather than deploy it. Cash in duration categories rose to 7.36% of AUM from 6.29%. The increase was largest in Dynamic Bond and Long Duration funds, the categories with the most room to take duration, and in Short Duration and Banking & PSU funds. Only Medium Duration and Medium to Long Duration funds put cash to work. Managers are holding cash for better entry points rather than buying duration into rising yields.

The overall stance is defensive and flexible. Managers sold long gilts, bought short paper and raised cash, so portfolios are positioned for higher-for-longer rates. Dynamic Bond and Long Duration funds now hold more cash, so these managers are likely to be the first to add duration once yields stabilise or the rate cycle shows signs of peaking.

For a comprehensive understanding and more insights, please go through our detailed report.

Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | AMFI Registered MF Distributor | ARN-0158

FPI buying: information technology leads amid widespread sectoral selling – During 1st–15th October 2026, FPI buying remained highly selective, with Information Technology attracting the highest inflows of ₹2,599 Cr, despite persistent foreign selling across broader markets. FPIs also purchased Services worth ₹262 Cr, Media, Entertainment & Publication ₹252 Cr, Diversified ₹43 Cr and Chemicals ₹41 Cr. The buying in IT indicates selective foreign interest even as the sector remains in cumulative outflow territory for CY2026.

FPI selling: financials and FMCG lead outflows; healthcare faces sharp reversal – Financial Services recorded the highest outflow of ₹8,634 Cr, followed closely by FMCG at ₹8,172 Cr and Automobiles at ₹6,533 Cr. Notably, Healthcare witnessed heavy selling of ₹5,497 Cr, contrasting with its strong buying trend during earlier fortnights. FPIs also sold Telecommunication ₹3,928 Cr and Capital Goods ₹3,886 Cr, while Metals & Mining and Oil & Gas faced additional selling pressure, highlighting broad-based foreign investor caution

FPI Equity Outflows Intensify: FPIs sold ₹47,955 Cr of Indian equities during 1st–15th October 2026, marking their third consecutive fortnight of selling. The outflows were concentrated in the secondary market, with heavy selling of ₹50,479 Cr, while FPIs continued buying in the primary market/IPOs with net investments of ₹2,524 Cr. This highlights sustained foreign investor interest in new issuances despite aggressive selling in the secondary market.

FPI Debt Inflows Return After Four Consecutive Selling Fortnights: FPIs invested ₹2,067 Cr in Indian debt securities during the first half of October, ending four consecutive fortnights of selling. Debt-General Limit recorded net buying of ₹3,377 Cr, while Debt-VRR and Debt-FAR witnessed net selling of ₹559 Cr and ₹751 Cr, respectively. The reversal, primarily driven by strong inflows into the Debt-General category, signals a tentative improvement in foreign investor appetite for Indian fixed-income securities following sustained outflows.

DII Buying Remains Robust: DIIs invested ₹51,829 Cr in equities during 1st–15th October 2026, marking the highest fortnightly buying in the past four months and more than offsetting FPI equity outflows of ₹47,955 Cr during the same period. Cumulative DII equity purchases reached ₹6,82,199 Cr in CY2026, reinforcing the critical role of domestic institutional liquidity in supporting Indian equity markets.

MFs Sustain Strong Equity Inflows: Mutual funds purchased ₹38,489 Cr of equities during 1st–13th October 2026, marking the highest fortnightly buying in the past four months and contributing significantly to domestic institutional support. Cumulative mutual fund equity investments reached ₹4,55,397 Cr in CY2026, highlighting sustained domestic participation despite persistent foreign selling.

For a comprehensive understanding and more insights, please go through our detailed report.

Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | AMFI Registered MF Distributor | ARN-0158

SIF Industry Net AUM Surges 22.8% as Strong Inflows Drive September Growth: The Specialised Investment Funds (SIF) industry maintained its strong growth momentum in September, with month-end Net AUM rising 22.8% MoM to ₹38,287 crore, compared with ₹31,175 crore in August. Average AUM grew even faster, climbing 32.4% to ₹35,021 crore, reflecting the industry’s expanding asset base.

Strong Inflows Power SIF AUM Growth Despite Market Drag: Net inflows remained robust at ₹7,578 crore, marginally below August’s ₹7,699 crore, and exceeded the ₹7,112 crore increase in month-end AUM. This indicates that fresh investor subscriptions were the sole driver of AUM growth, more than offsetting a ₹467 crore negative mark-to-market impact. Despite market-related valuation pressure, sustained investor inflows underscored strong demand for SIF products.

Hybrid Strategies Dominate SIF Inflows and AUM: Hybrid investment strategies strengthened their dominance in September, attracting ₹5,174 crore in net inflows, up 10.8% MoM, and accounting for 68.3% of total industry inflows, compared with 60.7% in August. Hybrid Long-Short Funds led with ₹4,486 crore in inflows (+9.1% MoM), contributing 59.2% of industry inflows, while Active Asset Allocator Funds attracted ₹688 crore (+23.3% MoM). Consequently, hybrid AUM surged 23.5% to ₹26,413 crore, representing 69% of total industry AUM, with Hybrid Long-Short Funds alone commanding 62.6%.

Inflows Concentrated in a Single Scheme: September’s SIF inflows were heavily skewed towards Altiva Hybrid Long-Short Fund, which captured close to a third of industry inflows. RedHex Hybrid Long-Short Fund was the next-largest recipient, though at a considerably lower level. Including the Altiva Equity Long-Short NFO and Altiva Equity Ex-Top 100 Long-Short Fund, the Altiva fund house drew around two-fifths of the industry’s monthly inflows. This underlines how much of the industry’s growth still depends on one fund house.

Single-scheme concentration: Altiva Hybrid Long-Short Fund holds 29.3% of SIF industry AUM at ₹11,230.53 crore. That is 2.8 times the next-largest scheme, Magnum Hybrid Long Short Fund (₹3,981.67 crore, 10.4%). The top three schemes, all Hybrid Long-Short, together hold 47.6% of industry AUM, and the top five hold 58.6%.

Hybrid Long-Short dominates the leaderboard: Five of the eight largest schemes are Hybrid Long-Short funds, with combined AUM of ₹21,267 crore, or 55.5% of the industry. Altiva Hybrid alone accounts for 46.9% of the ₹23,957 crore Hybrid Long-Short category. This shows that the category’s growth is concentrated in a single scheme.

Equity Strategies Bear the Brunt of September’s Decline: SIF returns turned negative in September, with an average absolute return of −1.25% and only 7 of 33 schemes ending in positive territory. Equity-oriented strategies fell 3.11% on average, and all 11 Equity Long-Short funds closed in the red. Hybrid strategies held up better at a median of −0.49%. Their average of +1.28% is lifted by Qsif Hybrid Long-Short (+16.76%) and Qsif Active Asset Allocator (+13.62%), which took the top two places. Excluding these two schemes, the hybrid average is −1.04%.

For a comprehensive understanding and deeper insights, please refer to our detailed report available at the link below.

SIF Industry Pulse – September 2026

Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | AMFI Registered MF Distributor | ARN-0158

Equity Mutual Fund AUM Declines 4.26% in September Amid Sharp Market Correction: Equity mutual funds’ net AUM declined 4.26% MoM to ₹37.54 lakh crore in September, from ₹39.21 lakh crore in August, marking a reduction of nearly ₹1.67 lakh crore during the month. The decline was primarily driven by a sharp correction of over 6% in equity indices, which eroded portfolio valuations and outweighed the impact of fresh investor inflows, pulling equity assets lower from their record August levels.

Flexi Cap Funds Slip Below ₹6 Lakh Crore AUM but Retain Top Spot: Flexi Cap Funds’ net AUM declined to ₹5.88 lakh crore in September, from ₹6.11 lakh crore in August, amid a sharp correction in equity markets. Despite the decline, the category remained the largest equity mutual fund segment for the eleventh consecutive month. Mid Cap Funds followed at ₹5.14 lakh crore, down from ₹5.43 lakh crore in August, making Flexi Cap and Mid Cap Funds the only two equity categories with AUM above ₹5 lakh crore each. The decline across both categories primarily reflects market-driven valuation erosion, despite continued investor interest in diversified and mid-cap strategies.

Mutual Funds Show Strong Appetite for September IPOs, with NSE, Rentomojo and SS Retail Leading Fresh Additions: India’s primary market witnessed 70 IPO listings in September 2026, comprising 32 Mainboard and 38 SME IPOs, collectively raising ₹43,460 crore. Equity mutual funds showed strong participation in new offerings, with 98 schemes adding National Stock Exchange of India (NSE) and collectively acquiring 0.60% of the company, alongside its reported ₹22,600 crore IPO fundraising. Other notable additions included Rentomojo (35 schemes; 14.02% stake acquired), Aditya Infotech (23; 1.75%), SS Retail (22; 6.58%), Kanohar Electricals (19; 7.24%), Manipal Payment and Identity Solutions (17; 3.26%), Moneyview (15; 3.25%) and Hero Motors (15; 6.31%). The relatively higher stakes acquired in Rentomojo, Kanohar Electricals and SS Retail indicate significant mutual fund participation in these companies.

Mutual Funds Add Fresh Positions Across Fintech, Healthcare, Financials and Capital Markets: Beyond new offerings, mutual fund schemes initiated exposure to Divi’s Laboratories, Multi Commodity Exchange of India, Gland Pharma, HDFC Life Insurance, Sona BLW Precision Forgings , One97 Communications and Meesho. These additions reflect diversified investment interest across pharmaceuticals, capital-market infrastructure, insurance, auto components, fintech and digital commerce, highlighting selective accumulation in established businesses alongside emerging growth opportunities.

Gland Pharma, Swiggy and PB Fintech Lead Mutual Fund Buying: Among the top 20 traded stocks, equity mutual funds recorded the strongest net additions in Gland Pharma, Swiggy and PB Fintech, followed by Lenskart Solutions, DLF, Multi Commodity Exchange of India, Meesho and Bharat Forge. The buying pattern reflects selective accumulation across pharmaceuticals, fintech, digital commerce, consumer platforms, real estate, capital-market infrastructure and industrials. Major banking stocks, including HDFC Bank and Kotak Mahindra Bank, also witnessed net additions.

For a comprehensive understanding and deeper insights, please refer to our detailed report available at the link below.

Activities of Equity MFs – September 2026

Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | AMFI Registered MF Distributor | ARN-0158

Equity Buying Remains Strong Amid Market Correction: Mutual funds invested ₹53,887 Cr in equities during September 2026, slightly lower than ₹56,979 Cr in August, reflecting continued strong equity deployment despite a sharp market correction. Overall, equity-oriented mutual fund cash holdings edged up to ₹1.85 lakh Cr in September from ₹1.84 lakh Cr in August, indicating broadly stable liquidity reserves. Despite benchmark indices correcting sharply, with the Nifty falling over 6% in September, fund managers continued to deploy capital into equities, suggesting sustained buying interest amid market weakness.

AMC Cash Levels Rise Marginally in September: The average cash holding ratio across the top 20 AMCs increased to 4.59% in September from 4.49% in August, marking a 10 bps rise. The increase was partly driven by the sharp correction in equity valuations, despite strong equity inflows and continued equity buying by mutual funds. This suggests that fund houses maintained relatively stable liquidity buffers while actively deploying capital amid market volatility and emerging investment opportunities.

Highest Cash Allocation – Quant & PPFAS: Quant & PPFAS: Quant Mutual Fund holds the highest cash-to-AUM ratio at 16.49%, with ₹15,048 Cr in cash, followed by PPFAS MF at 14.33% with ₹21,681 Cr. These elevated liquidity levels indicate a relatively cautious stance and provide greater flexibility to deploy capital as investment opportunities emerge.

Parag Parikh Flexi Cap Fund Leads in Absolute Cash Holdings: Parag Parikh Flexi Cap Fund holds the largest cash reserve at ₹21,186 Cr (14.60% of AUM), followed by HDFC Mid Cap Fund at ₹8,417 Cr (8.26%) and SBI Small Cap Fund at ₹5,993 Cr (14.60%), highlighting significant liquidity buffers among leading equity schemes.

Contra & Flexi Cap Funds Lead Cash Holdings: Contra Funds remain the most cash-heavy category at 7.31% of AUM (₹5,233 Cr), reflecting a cautious yet opportunity-driven approach, while Flexi Cap Funds hold the largest absolute cash reserve of ₹40,001 Cr (6.79% of AUM), providing fund managers with significant flexibility for tactical deployment across market segments.

For a comprehensive understanding and deeper insights, please refer to our detailed report available at the link below.

Cash Holding Report – September 2026

Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | AMFI Registered MF Distributor | ARN-0158

The Mutual Fund industry recorded a net outflow of ₹1.33 lakh cr in September, against a net inflow of ₹41,354 cr in August. Quarter-end advance tax payments and half-yearly balance-sheet requirements led to withdrawals of ₹1.72 lakh cr from short-end debt funds. Month-end Net AUM fell 5.1% to ₹82.64 lakh cr and Average AUM eased 1.4% to ₹87.09 lakh cr. Market-related valuation changes accounted for approximately 70% of the ₹4.44 lakh cr decline in Net AUM, after adjusting for net outflows of ₹1.33 lakh cr, as the Nifty 50 fell 6.1% during the month.

Inflows rose on lower redemptions. Equity net inflows rose 30.6% to ₹38,307 cr, a five-month high. Gross purchases rose only 1.7% to ₹74,832 cr, while redemptions fell 17.5% to ₹36,525 cr. Investors held their positions through a 6.1% fall in the Nifty 50, while steady fresh purchases show continued buying on declines.

Small Cap and Mid Cap funds set new highs. Small Cap and Mid Cap both drew record monthly inflows, of ₹9,039 cr and ₹7,835 cr respectively. Flexi Cap drew ₹6,702 cr. The Smallcap 250 is up 24.6% in H1FY27 against 1.3% for the Nifty 50. Flows are concentrated in the best-performing and most richly valued segment, which raises concentration risk.

Short-end funds drove the outflow. Debt schemes saw a net outflow of ₹1.83 lakh cr, against ₹8,127 cr in August. Debt Average AUM eased only 1.4% to ₹19.64 lakh cr. Withdrawals were concentrated in the second half of the month, around the advance tax date and quarter-end, so balances stayed high for most of September. Liquid Average AUM rose 1.0% and Overnight rose 2.2% despite net outflows. Money Market saw the sharpest decline in the group, at 6.4%.

Hybrid recorded its first net outflow since March 2026. The outflow was ₹457 cr, against an inflow of ₹10,045 cr in August. Hybrid Average AUM eased 0.9% to ₹12.55 lakh cr.

For a comprehensive understanding and deeper insights, please refer to our detailed report available at the link below.

Mutual Fund Flows – September 2026

Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | SEBI Registered MF Distributor | ARN-0158

The 10-year G-sec yield rose 24 bps to 7.19% on OMO sales, the US rate hike and Brent above $100

September extended the duration split, and the damage moved further along the curve. Overnight, Liquid, Money Market and Ultra-Short categories again delivered steady annualised returns through the month. Every long-duration category posted negative one-month and fortnightly numbers, and by a wider margin than in August: Gilt, Long duration, Medium-to-Long and Dynamic bond. Unlike August, the losses were heaviest in the first half of the month, when the RBI announced its first OMO bond sales in nearly five years and the US Federal Reserve raised rates. The damage also reached into the 3–5 year segment, so medium duration and corporate bond funds were negative over the fortnight.

The ten-year G-sec yield rose through September in three stages, and each rise came from outside the domestic money market. In the first ten days it held below 7%, even with Brent above $100 and the US 10-year close to 5%, because the record banking surplus kept demand for bonds strong. It broke above 7% in mid-month after the Governor signalled bond sales to drain the FCNR(B) liquidity, followed by the first OMO sales in nearly five years and the US rate hike. There was a brief pause around 22 September, when Brent eased on hopes of a US–Iran settlement and demand at the OMO auctions improved. In the final week it rose again as US yields climbed to their highest since 2007, Brent rebounded and markets priced an October rate hike. It closed the month at its highest level since May. The ten-year rose by less than half as much as the US 10-year, which shows the surplus still cushioned Indian bonds. That cushion is now shrinking as the RBI drains liquidity, and the yield rose further after the 7 October hike and the shift in stance to “calibrated tightening”.

Corporate bond yields rose in September, but by less than G-sec yields of the same maturity, so spreads narrowed. For most of the first half of the month, three- and five-year AAA yields held steady or eased, even as gilts sold off. Banks were holding large FCNR(B) inflows and had less need to raise money through bonds, so fresh corporate supply was limited. The RBI’s OMO sales, meanwhile, added to government bond supply. In the last week, AAA yields caught up as markets priced the October rate hike and quarter-end funding needs pushed issuers back to the market. Over the month, the three-year AAA spread over G-secs narrowed from about 154 bps to 148 bps, and the five-year spread from about 132 bps to 125 bps. AA and A-rated spreads narrowed by similar amounts. This reverses August, when spreads widened.

For a comprehensive understanding and deeper insights, please refer to our detailed report available at the link below.

Monthly Debt Market Snapshot – September 2026

Mata Securities India Pvt Ltd | SEBI Registered Research Analyst | Reg. No. INH000022668 | SEBI Registered MF Distributor | ARN-0158

FPI Flows: Two-Month Equity Buying Streak Ends as Selling Returns Across Both Equity & Debt

FPIs Turn Equity Sellers Again After Two Consecutive Months of Buying: FPIs recorded net equity outflows of ₹35,861 Cr in September 2026, ending the buying momentum seen in July and August. Selling remained persistent throughout the month, with FPIs withdrawing ₹14,116 Cr during September 1–15 and a higher ₹21,745 Cr during September 16–30. September became the sixth month of FPI equity selling in CY2026, compared with only three months of net buying — February, July and August, highlighting the continued cautious stance of foreign investors toward Indian equities.

Secondary Market Bears the Brunt of FPI Selling, While IPO Activity Attracts Foreign Capital: The September equity outflow was driven entirely by the secondary market, where FPIs sold ₹45,537 Cr worth of equities. In contrast, FPIs remained net buyers of ₹9,676 Cr in the primary market, supported by continued participation in the active IPO and primary issuance market. This indicates that while foreign investors reduced exposure to listed equities, they continued to selectively deploy capital into new issuances.

FPI Debt Selling Accelerates Sharply for the Second Straight Month: FPIs recorded net debt outflows of ₹20,727 Cr in September, extending debt selling for the second consecutive month after the three-month buying streak ended in August. Selling accelerated sharply from just ₹1,457 Cr in August, with outflows of ₹7,662 Cr in the first half and a significantly higher ₹13,065 Cr in the second half of September. Secondary-market selling remained the key contributor to the pressure on FPI debt flows during the month.

Financial Services Sees Sharp Reversal; Becomes Largest FPI Selling Sector: After leading FPI buying in August, Financial Services reversed sharply in September, recording net selling of ₹13,147 Cr. Selling remained heavy throughout the month, with ₹6,204 Cr in the first half and ₹6,943 Cr in the second half, making it the largest sectoral FPI outflow during September.

Consumer Services and Healthcare Extend Buying Streak; Services Emerges as a Preferred Sector: Consumer Services remained the top FPI buying sector at ₹2,333 Cr, with buying accelerating significantly in the second half. Healthcare continued to attract foreign flows with ₹2,117 Cr of net buying, while Services recorded purchases of ₹2,302 Cr, emerging among the leading FPI buying sectors during the month. Construction also attracted healthy inflows of ₹1,311 Cr.

For a comprehensive understanding and deeper insights, please refer to our detailed report available at the link below.

September Market Pulse Report

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.

For a comprehensive understanding and more insights, please go through our detailed report.