After a record-breaking 2024, mutual funds have kept up the momentum in 2025. Net inflows of nearly ₹6.0 trillion in the first half of the year already surpass the full-year totals of every year except 2024. This puts the industry on course for another exceptional result.
The relative picture is even stronger. FY25 saw net inflows in mutual funds exceed 40% of incremental bank deposits, the highest share on record and well above the 2017–18 peaks. Mutual funds are now a meaningful competitor to banks in mobilising savings.
This is mirrored in assets. Industry AUM crossed ₹74 trillion by June 2025, expanding nearly 25% YoY. Mutual fund AUM now totals almost a third of bank deposits. Even with some short-term volatility, there’s a clear direction: mutual funds are embedding themselves firmly in household portfolios.
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