July 7, 2025: AMC Stocks- According to the Association of Mutual Funds in India (AMFI), the Indian mutual fund industry’s Assets Under Management (AUM) surged to a record ₹72 trillion in May 2025, marking a 22.5% year-on-year growth despite a challenging second half of FY25. While the industry faced headwinds from market corrections and a spike in Systematic Investment Plan (SIP) closures, a rebound in broader capital markets has reignited investor confidence.
As equity markets stabilize and momentum builds, asset management companies (AMCs) are emerging as key beneficiaries. Here’s a look at three AMCs well-positioned to ride the upcycle.
1. HDFC Asset Management Company: Equity Strength and Retail Reach
Backed by HDFC Bank, which holds a 52.5% stake, HDFC AMC is India’s second-largest asset manager with an AUM of ₹7.5 trillion, growing 24% YoY in FY25.
- Equity-oriented schemes comprise 66.8% of total AUM (₹4.7 trillion), higher than the industry average of 58.1%.
- It holds a 12.9% market share in equity mutual funds and 13.2% in individual AUM, with a strong SIP book of ₹36.5 billion monthly.
- HDFC AMC serves 98% of Indian PIN codes through 280 offices and over 95,000 delivery partners.
- Revenue rose 35% YoY to ₹34.9 billion, with net profit up 26% at ₹24.6 billion and ROE at 32.4%.
2. Nippon India Asset Management: Passive Investing Powerhouse
Nippon AMC, India’s fourth-largest AMC with an AUM of ₹5.6 trillion, is the top-ranked non-bank-sponsored mutual fund.
- 50% of AUM is equity, 28% ETFs, 15% debt, and 8% liquid.
- Its ETF segment grew notably, reflecting the rising popularity of passive investing.
- The company boasts the largest investor base at 20.8 million, and a robust B-30 market share of 20%.
- Its SIP book surged to ₹90.5 billion, with 54% of SIPs continuing beyond five years, far above the industry average.
3. Aditya Birla Sun Life AMC: Fixed Income and Institutional Focus
Promoted by Aditya Birla Capital and Sun Life AMC Investments, Aditya Birla Sun Life AMC manages an AUM of ₹4.0 trillion.
- The firm’s mutual fund QAAUM rose 15% YoY to ₹38.2 billion, with 44% equity and 56% fixed income.
- It has a vast distribution network with access to 19,000+ PIN codes and 300+ locations, mostly in B-30 cities.
- While individual AUM growth lagged peers at 6%, institutional AUM rose 23% YoY.
Industry Outlook
Despite mid-year volatility, the mutual fund industry is showing resilience, driven by strong retail participation, especially in equity-oriented schemes. With continued inflows, increasing financial awareness, and deepening penetration in B-30 markets, leading AMCs like HDFC, Nippon, and Aditya Birla Sun Life appear well-placed to capitalize on the next phase of growth.
The strong showing in May 2025 underlines the industry’s evolving strength and its pivotal role in shaping long-term wealth creation in India.