The growth was driven by net inflows of ₹8.15 lakh crore and mark-to-market gains in both equity and debt segments.
Equity-oriented schemes accounted for the highest net inflows in FY25 at ₹4.17 lakh crore, more than double the inflows recorded in the previous fiscal year. The segment’s AUM rose to ₹29.45 lakh crore, supported by both fresh investments and positive equity market returns.
Sectoral/Thematic, Flexi Cap, and Mid Cap funds together made up 43% of the equity AUM as of March 2025.
The industry launched 70 equity new fund offers (NFOs), mobilising ₹85,244 crore, AMFI said.
Debt funds record net inflows after three years
Debt-oriented funds saw a reversal of the previous trend, with net inflows of ₹1.38 lakh crore in FY25, compared to outflows of ₹0.23 lakh crore in FY24.
The AUM of the segment rose to ₹15.21 lakh crore. Money market and liquid funds recorded the highest net inflows among debt categories, aided by favourable interest rate movements and yield curve shifts.
Growth in hybrid and passive funds
Hybrid funds’ AUM increased 22.2% year-on-year to ₹8.83 lakh crore, with net inflows of ₹1.19 lakh crore. Arbitrage and multi-asset allocation funds contributed significantly to these inflows.
Passive funds’ AUM rose to ₹11.47 lakh crore, with net inflows of ₹1.4 lakh crore.
The year saw the launch of 150 passive fund schemes, mobilising ₹1.5 lakh crore.
Systematic Investment Plans (SIPs) expand
SIP contributions rose 45.2% to ₹2.89 lakh crore in FY25. SIP AUM increased to ₹13.35 lakh crore, making up 20.3% of the industry’s total AUM.
The number of contributing SIP accounts rose to 8.11 crore, up from 6.38 crore the previous year.
Rise in folio count and retail participation
The total number of mutual fund folios rose 32% to 23.45 crore in FY25. Equity-oriented scheme folios increased to 16.38 crore, constituting around 70% of total folios. Hybrid and other schemes also recorded growth in folio numbers, while debt-oriented scheme folios declined marginally.
Women and individual investor participation
Women comprised 25.9% of the mutual fund investor base in FY25, up from 24.2% in FY24. Individual investors, including retail and HNIs, held 63.2% of total industry AUM, with equity funds accounting for the majority of their investments.
Geographic and demographic trends
Top five cities—Mumbai, New Delhi, Bengaluru, Pune, and Kolkata—accounted for 52.5% of India’s mutual fund AUM.
Younger investors contributed a higher share of equity flows, while older investors showed preference for hybrid and debt schemes