Mutual Fund Screener 28th October 2026 by ICRA Analytics Ltd
MF Industry at a glance in Q2FY27
* The Indian mutual fund industry demonstrated resilience in Q2FY27 despite heightened market volatility. Quarterly Average Assets Under Management (QAAUM) reached Rs.89.51 lakh crore at the end of Q2FY27, registering a 4.9% sequential growth and 14.1% year-on-year growth, with almost all asset management companies (AMCs) recording AUM growth during the quarter. The industry's leadership structure remained unchanged, with SBI Mutual Fund (Rs.13.35 lakh crore), ICICI Prudential Mutual Fund (Rs.12.20 lakh crore) and HDFC Mutual Fund (Rs.9.97 lakh crore) retaining their positions as the three largest fund houses. While market shares of the top AMCs remained largely stable, DSP Mutual Fund and Mirae Asset Mutual Fund recorded notable gains, reflecting continued competition within an otherwise mature industry.
* Although average assets expanded during the quarter, month-end industry AUM declined from a record Rs.87.08 lakh crore in August 2026 to Rs.82.64 lakh crore in September 2026, primarily due to adverse mark-to-market impact from market corrections. Nevertheless, September 2026 AUM remained 9.3% higher than the previous year, underscoring the sector's long-term growth trajectory driven by rising retail participation and sustained systematic investment plan (SIP) inflows.
* Net inflows remained positive at Rs.1.44 lakh crore during Q2FY27, although lower than Rs.2.05 lakh crore in Q1FY27. The moderation was primarily attributable to outflows from debt-oriented schemes and significant September 2026 outflows. Equity-oriented schemes continued to be the key growth driver during Q2FY27, attracting Rs.92,293 crore of net inflows, while hybrid schemes witnessed slower inflows. Debt-oriented schemes recorded net outflows of Rs.5,853 crore, highlighting investor preference for equity-linked products amid evolving market conditions.
* Investor participation remained robust, with total mutual fund folios increasing to 28.62 crore in September 2026. The continued expansion in investor base, coupled with healthy equity inflows, reinforces the structural growth outlook for the Indian mutual fund industry despite short-term market fluctuations.
QAAUM rose 4.9% sequentially and 14.1% YoY during Q2FY27
* Quarterly Average AUM (QAAUM) rose 4.9% sequentially in Q2FY27 to Rs. 89.51 lakh crore.
* QAAUM grew by 14.1% annually.
* Barring 360 One Mutual Fund, no AMCs witnessed quarterly decline in Q2FY27.*
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Top five AMCs with sequential growth were:
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Choice Mutual Fund (216.4%)
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Abakkus Mutual Fund (81.0%)
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Trust Mutual Fund (46.7%)
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The Wealth Company Mutual Fund (42.2%)
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Old Bridge Mutual Fund (38.5%)
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Top 10 AMCs maintained broadly stable market shares between Q1FY27 and Q2FY27
* The top 10 composition remained unchanged in Q2FY27 compared to Q1FY27.
* The top 10 AMCs maintained broadly stable market shares between Q1FY27 and Q2FY27, despite market volatility during the quarter.
* SBI Mutual Fund, ICICI Prudential Mutual Fund and HDFC Mutual Fund continued to be the top three fund houses in terms of highest quarterly AAUM.
* The QAAUM of SBI Mutual Fund stood at Rs. 13.35 lakh crore during Q2FY27, followed by ICICI Prudential AMC (Rs. 12.20 lakh crore) and HDFC AMC (Rs. 9.97 lakh crore).
* Among the top 10 players, DSP Mutual Fund and Mirae Asset Mutual Fund recorded the strongest QAAUM growth QoQ, with market shares increasing to 2.77% and 2.74%, respectively. In contrast, SBI Mutual Fund, ICICI Prudential, HDFC, Kotak Mahindra, Aditya Birla Sun Life and UTI Mutual Fund witnessed marginal erosion in market share on QoQ basis.
* Overall, the data suggests a highly competitive industry landscape, with most large AMCs witnessing only limited changes in market share, reflecting the maturity and concentration of India's mutual fund industry.
SIP contribution touched an all time high of Rs. 32,490 crore in September 2026
* The contribution through systematic investment plans (SIPs) touched a fresh all-time high of Rs. 32,490 crore in September 2026.
* In the H1 of FY27, the total SIP contribution stood at Rs. 1,90,598 crore.
* The number of new SIP accounts increased by 63.26 lakh in September 2026.
* During H1 of FY27, total number of outstanding SIP accounts stood at 1,088.9 lakh.
* The SIP asset under management (AUM) stood at Rs 17.86 lakh crore in September 2026 compared to Rs 18.62 lakh crore in August 2026 and 17.70 lakh crore in June 2026.
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