FundsMutual funds
Who owns India's mutual funds
Individuals hold 61% of mutual fund assets, up from 44% in 2014. They own most of equity and hybrid funds; companies own most of debt funds and ETFs.
Written for investors, advisers and readers following who uses mutual funds in India. Ownership data to 1 Jul 2026.
Ownership differs by fund group
Equity, debt and hybrid funds draw different mixes of investors. Compare their shares of assets with their shares of accounts (folios) below. AMFI's latest ownership observation is Jun 2026; it is a separate quarterly report from the monthly flows above. Domestic fund-of-funds are excluded from the industry total to avoid double counting, and shown separately.
Who sells these funds, direct plans or distributors, and what regular-plan investors pay for it each year: who sells India’s mutual funds. How large a company must be to count as large, mid or small cap: how big is a large cap now. Fund assets by state: where India’s fund money lives. Inside the portfolios, stock by stock: what India’s mutual funds own. The richer end of the market: specialised investment funds and portfolio managers.
Who holds the industry's money
Share of average AUM by investor type, ETFs included, monthly from March 2014 to Jul 2026.
How to read it. Individuals (retail and HNI together) hold 61% now, up from 44% in 2014. AMFI classes an investor as retail or HNI by the size of the investment, so a growing account can move from one to the other. AMFI's own monthly summary uses month-end assets, so its shares differ slightly.
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What each group holds
Asset mix of each group's money, Jul 2026. AMFI's category-wise report still files balanced advantage, multi-asset and arbitrage funds with equity.
How to read it. Individuals keep 87% in equity and hybrid funds; institutions keep 50% in debt and liquid funds and 29% in ETFs. Money from beyond the 30 largest cities is 86% equity and hybrid, against 55% in the top 30.
What each group holds. Bar chart of 4 items. Equity-oriented, incl. most hybrids: highest Individuals at 79%, lowest Institutions at 19%.
Money from beyond the largest cities
Share of average AUM from outside AMFI's top cities, monthly.
How to read it. 19% of all fund money and 28% of individuals' money comes from beyond the 30 largest cities; institutions' money is almost all in the top 30 (96%). The drop in April 2018 is AMFI widening "top" from 15 cities to 30, not money leaving smaller towns.
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Share of the money
Each group's AUM by investor class, Jun 2026.
Share of the money. Bar chart of 8 items. Retail: highest Solution at 65.6%, lowest Debt at 2.6%.
Share of the accounts
Each group's folios by investor class, Jun 2026. A folio is an account, not a person.
Share of the accounts. Bar chart of 8 items. Retail: highest Solution at 97.2%, lowest Hybrid at 75.0%.
Read the two side by side: retail investors hold most accounts in every group and a much smaller share of the money. Other includes index funds, ETFs and overseas FoFs in AMFI's ownership classification.
All funds (excluding domestic FoFs): AUM ownership
Reported observation dates. Half-yearly history becomes quarterly.
How to read it. Compare investor classes within a group. Earlier broad scheme labels are mapped to broad groups; category definitions and membership can change. Detailed subcategory history is not projected backwards.
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Who owns each reported category?
The category detail comes from AMFI's investor classification report for Jun 2026. It keeps the source categories instead of reducing all debt funds to one row. Categories with identical names within a group are combined across the ownership report's scheme sections.
Equity funds: who owns each category
Share of each category's AUM by investor class, Jun 2026.
How to read it. Bars run from the category most owned by individuals to the least. Highest retail share: ELSS (84%). Highest corporate share: Focused Fund (16%).
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Hybrid funds: who owns each category
Share of each category's AUM by investor class, Jun 2026.
How to read it. Bars run from the category most owned by individuals to the least. Highest retail share: Aggressive hybrid (25%). Highest corporate share: Arbitrage Fund (49%).
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Debt funds: who owns each category
Share of each category's AUM by investor class, Jun 2026.
How to read it. Bars run from the category most owned by individuals to the least. Highest retail share: Other Debt Scheme (99%). Highest corporate share: Overnight Fund (88%).
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Index funds, ETFs, fund of funds and solution funds: who owns each category
Share of each category's AUM by investor class, Jun 2026.
How to read it. Bars run from the category most owned by individuals to the least. Highest retail share: Children's Fund (75%). Highest corporate share: Other ETFs (83%).
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Retail investors own most accounts and much less of the money
Retail investors' share of each category's folios and of its AUM, Jun 2026. Categories with at least ₹50,000 crore.
How to read it. Across all funds, retail investors hold 91% of folios but 28% of assets. The gap is widest in debt: an average money market fund folio holds ₹57 lakh, an ELSS folio ₹1.5 lakh. AMFI classes investors by the size of their investment, so a retail folio is a small one by definition.
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Retail investors' share of the main equity categories
Retail share of each category's AUM, quarterly, since AMFI began reporting detailed categories in September 2024.
How to read it. The ranking has not changed in eight quarters: retail money is concentrated in ELSS and small and mid caps, and HNIs and companies make up more of large-cap, flexi-cap and thematic funds.
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Detailed reporting expands from September 2024. Earlier reports contain broader categories, so this latest breakdown does not imply that the same detailed history exists for every category.
How old are the assets investors currently hold?
AMFI's age-wise AUM report for Jun 2026 divides currently held assets into six age buckets. Compare equity and non-equity assets across investor classes. These are asset-weighted snapshots of surviving holdings, not the typical time an investor waits before selling.
Equity assets held for more than two years
Share of each investor class's currently held AUM, on actual disclosure dates.
How to read it. Differences describe the age mix of assets still held. Prices, fresh subscriptions and redemptions all change the mix, so this is not a cohort retention rate.
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Equity assets by age
Share of each investor class's equity AUM by how long it has been held, Jun 2026.
Equity assets by age. Bar chart of 6 items. 0–1 month: highest Corporates at 3.1%, lowest FIIs at 1.2%.
Non-equity assets by age
Share of each investor class's non-equity AUM by how long it has been held, Jun 2026.
Non-equity assets by age. Bar chart of 6 items. 0–1 month: highest Banks/FIs at 41.1%, lowest Retail at 3.0%.
The source reports amounts rather than unique investor counts. The over-two-year bucket has no upper age bound, so no average holding duration is estimated. The historical disclosure frequency changes from half-yearly to quarterly; missing observations are not filled.
The workings
The question
Data
Every chart has a table view, a CSV download and a link to its published JSON. Bundles are listed in data status.