The mutual fund industry in India witnessed robust growth in 2025, adding over 4.05 crore new folios, reflecting rising investor participation across equity, debt, and hybrid schemes, according to AMFI data.

Top Fund Houses by Folio Addition

• Nippon India Mutual Fund led the pack with 56.54 lakh new folios, taking its total to 3.66 crore.
• HDFC Mutual Fund added 55.31 lakh folios, reaching a total of 2.77 crore.
• Motilal Oswal Mutual Fund added 41.05 lakh folios, bringing its total to 1.21 crore.

Other notable contributors included ICICI Prudential Mutual Fund (40.71 lakh new folios) and Tata Mutual Fund (32.15 lakh), completing the top five for absolute folio growth.

Industry-Wide Growth

The total number of folios across all fund houses increased from 22.3 crore in December 2024 to 26.35 crore in December 2025, marking an 18% year-on-year growth.

Other Significant Gainers

• SBI Mutual Fund, PPFAS, Bandhan, and Kotak Mutual Funds each added over 10 lakh folios.
• Jio BlackRock Mutual Fund, launched less than a year ago, entered the top 10 with 12.41 lakh folios.

Percentage Growth Leaders and Declines

• Angel One Mutual Fund saw the highest percentage growth, rising 4.8x to 1.93 lakh folios, followed by Helios MF (196%) and Zerodha AMC (146%).
• On the other hand, Quant MF (-6.22 lakh), PGIM India MF (-1.75 lakh), and Navi MF (-78,388) reported declines in folio numbers.

The data highlights both broad-based investor participation and the emergence of new fund entrants capturing market share.

Summary

In 2025, India’s mutual fund industry added over 4.05 crore new folios, an 18% increase from the previous year. Nippon India and HDFC Mutual Funds led in absolute additions, while Angel One Mutual Fund recorded the highest percentage growth. The rise reflects increasing investor participation, strong market sentiment, and the impact of new fund entrants such as Jio BlackRock Mutual Fund.

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