Top AMC in India: Leading Mutual Fund AMCs in 2026

Top 10 mutual fund AMCs in India ranked by quarterly average assets under management in 2026

Choosing a mutual fund is not just about selecting a scheme with impressive returns. The Top AMC in India  behind it also matters. Its investment philosophy, fund management team, research capabilities, risk controls, scheme range and consistency can influence the overall investment experience.

India's mutual fund industry has expanded considerably, with established players managing several lakh crore rupees and newer AMCs gradually building their presence. The latest July–September 2026 quarterly data places SBI Mutual Fund, ICICI Prudential Mutual Fund and HDFC Mutual Fund at the top by average assets under management (AAUM). However, the rankings also reveal an interesting trend: some smaller fund houses are recording much faster percentage growth than the industry leaders.

This guide examines the Top AMC in India by AUM, compares the leading mutual fund companies, looks at the wider AMC landscape and explains how investors can evaluate a fund house beyond its size.

How Is the Top AMC Ranking Calculated?

This ranking uses quarterly average assets under management (AAUM) for July–September 2026 rather than a single month-end AUM figure. AAUM represents the average assets managed by a mutual fund house during a specified period.

The AMFI quarterly disclosure reports fund-wise AAUM in ₹ lakh. The figures in this article have been converted into ₹ crore by dividing the reported values by 100. The ranking uses the AAUM column excluding domestic fund-of-funds but including overseas fund-of-funds.

Investors should note that AUM rankings and scheme performance are different measures. A larger asset base does not automatically indicate better returns or lower investment risk.

Top AMC in India by Quarterly AAUM: Key Details

Parameter Details
Industry covered Indian mutual fund industry
Latest quarterly ranking July–September 2026
Leading AMC by quarterly AAUM SBI Mutual Fund
SBI Mutual Fund quarterly AAUM ₹13.10 lakh crore
Second-largest AMC ICICI Prudential Mutual Fund
Third-largest AMC HDFC Mutual Fund
Industry quarterly AAUM ₹87.22 lakh crore
Industry AAUM growth during the quarter 4.9%
Number of fund houses in AMFI quarterly data 57
New entrant in the top 10 Mirae Asset Mutual Fund
Fastest-growing AMC among the top 10 DSP Mutual Fund
Key comparison parameters AUM, investment approach, scheme performance, risk, costs and consistency

The ranking uses quarterly average AUM for July–September 2026. AUM rankings and scheme performance are different measures and should not be treated as interchangeable.

Top 10 AMCs in India by AUM: September 2026 Ranking

The latest quarterly figures show that the largest mutual fund houses continue to command a significant share of the industry. SBI Mutual Fund retains the first position, followed by ICICI Prudential and HDFC Mutual Fund.

The following table compares the top 10 AMCs using quarterly AAUM, previous-quarter AAUM, absolute change and percentage growth.

Rank Mutual Fund AMC AAUM Jul–Sep 2026 (₹ crore) Previous Quarter AAUM (₹ crore) Increase (₹ crore) QoQ Growth
1 SBI Mutual Fund 13,09,607 12,57,352 52,255 4.2%
2 ICICI Prudential Mutual Fund 11,55,871 11,14,544 41,326 3.7%
3 HDFC Mutual Fund 9,69,076 9,35,100 33,976 3.6%
4 Nippon India Mutual Fund 7,87,053 7,51,519 35,534 4.7%
5 Kotak Mahindra Mutual Fund 6,14,116 5,90,460 23,656 4.0%
6 Aditya Birla Sun Life Mutual Fund 4,41,787 4,27,675 14,112 3.3%
7 UTI Mutual Fund 4,02,337 3,92,691 9,646 2.5%
8 Axis Mutual Fund 3,82,966 3,69,030 13,936 3.8%
9 DSP Mutual Fund 2,44,022 2,29,000 approximately 14,022 approximately 6.2%
10 Mirae Asset Mutual Fund 2,37,421 2,24,000 approximately 13,421 approximately 5.5%

Figures are rounded for readability. The previous-quarter figures and growth rates are based on the quarterly comparison. DSP and Mirae Asset previous-quarter figures are rounded approximations.

What the AMC Ranking Tells Us

A closer look at the numbers reveals more than just the order of the largest mutual fund companies in India.

  • SBI Mutual Fund maintains its lead: Its quarterly AAUM increased by ₹52,255 crore, the largest absolute addition among the top 10.
  • ICICI Prudential remains a strong second: It added approximately ₹41,326 crore in average assets during the quarter.
  • HDFC Mutual Fund holds third place: Its AAUM crossed ₹9.69 lakh crore, keeping it comfortably ahead of Nippon India.
  • Nippon India recorded 4.7% growth: Its percentage increase was higher than that of the top three AMCs.
  • DSP led the top 10 in percentage growth: Its AAUM increased by approximately 6.2% quarter-on-quarter.
  • Mirae Asset entered the top 10: Its 5.5% growth helped it replace Tata Mutual Fund, which moved to the 11th position.
  • The top five remained unchanged: SBI, ICICI Prudential, HDFC, Nippon India and Kotak Mahindra retained their positions.

The data highlights two different measures of growth. Large AMCs can add more assets in absolute terms because their existing AUM base is substantial. Smaller AMCs, on the other hand, can record higher percentage growth from a relatively smaller base.

Complete AMC List in India: Quarterly AAUM of 57 Fund Houses

The top 10 rankings offer a view of the largest players, but the wider AMC list in India shows how diverse the industry has become.

The following table includes the 57 fund houses appearing in the July–September 2026 AMFI quarterly AAUM disclosure. Figures are converted from ₹ lakh to ₹ crore and rounded to two decimal places. The ranking below follows the reported fund-house list, not a separate performance ranking.

Mutual Fund House Quarterly AAUM (₹ crore)
360 ONE Mutual Fund 12,825.29
Abakkus Mutual Fund 10,100.80
Aditya Birla Sun Life Mutual Fund 4,417.87
AlphaGrep Mutual Fund 0.90
Angel One Mutual Fund 621.20
ASK Mutual Fund 103.50
Axis Mutual Fund 3,829.66
Bajaj Finserv Mutual Fund 378.42
Bandhan Mutual Fund 2,177.49
Bank of India Mutual Fund 179.78
Baroda BNP Paribas Mutual Fund 546.46
Canara Robeco Mutual Fund 1,244.04
Capitalmind Mutual Fund 6.30
Carnelian Mutual Fund Not available
Choice Mutual Fund 2.61
DSP Mutual Fund 2,440.22
Edelweiss Mutual Fund 1,770.99
Franklin Templeton Mutual Fund 1,327.76
Groww Mutual Fund 65.71
HDFC Mutual Fund 9,690.76
Helios Mutual Fund 144.66
HSBC Mutual Fund 1,569.95
ICICI Prudential Mutual Fund 11,558.71
IL&FS Mutual Fund (IDF) 9.50
Invesco Mutual Fund 1,646.87
ITI Mutual Fund 124.69
Jio BlackRock Mutual Fund 22.47
JM Financial Mutual Fund 134.99
Kotak Mahindra Mutual Fund 6,141.16
Lakshya Mutual Fund 0.02
LIC Mutual Fund 500.35
Mahindra Manulife Mutual Fund 381.40
Mirae Asset Mutual Fund 2,374.21
Monarch Mutual Fund 0.03
Motilal Oswal Mutual Fund 1,588.58
Navi Mutual Fund 99.44
Nippon India Mutual Fund 7,870.53
NJ Mutual Fund 73.75
Nuvama Mutual Fund Not available
Old Bridge Mutual Fund 47.36
PGIM India Mutual Fund 278.59
PPFAS Mutual Fund 1,690.69
quant Mutual Fund 1,042.74
Quantum Mutual Fund 33.22
Samco Mutual Fund 25.46
SBI Mutual Fund 13,096.07
Shriram Mutual Fund 11.71
Sundaram Mutual Fund 825.22
Tata Mutual Fund 2,361.99
Taurus Mutual Fund 10.97
The Wealth Company Mutual Fund 18.49
Trust Mutual Fund 74.45
Unifi Mutual Fund 16.76
Union Mutual Fund 285.52
UTI Mutual Fund 4,023.37
WhiteOak Capital Mutual Fund 448.45
Zerodha Mutual Fund 168.21

The table uses the AMFI column for average AUM excluding domestic fund-of-funds but including overseas fund-of-funds. Carnelian and Nuvama had no AAUM figure reported in this disclosure. Very small values are rounded and may appear as ₹0.02 crore or ₹0.03 crore.

This broader list is useful because it includes both established fund houses and newer entrants. It also shows that a fund house's presence in the industry does not necessarily mean it has a comparable scale, track record or scheme range to the largest AMCs.

Which AMCs Are Growing the Fastest?

AUM size is only one part of the comparison. Growth rates can help identify fund houses that are expanding their asset base quickly.

During the September 2026 quarter, the industry recorded 4.9% growth in average AUM. However, several smaller AMCs reported much higher percentage increases.

AMC Reported Quarterly AAUM Growth
Choice Mutual Fund 216%
Abakkus Mutual Fund 81%
Trust Mutual Fund 47%
The Wealth Company Mutual Fund 43%
Old Bridge Mutual Fund 38%
DSP Mutual Fund 6.2%
Mirae Asset Mutual Fund 5.5%
Nippon India Mutual Fund 4.7%
SBI Mutual Fund 4.2%
Kotak Mahindra Mutual Fund 4.0%

The first five figures are the high-growth fund-house figures reported in the quarterly industry analysis. The remaining figures relate to the top 10 comparison.

These growth rates should be read in context. A 216% increase from a small asset base does not automatically make an AMC larger or more established than a fund house managing several lakh crore rupees. Investors should look at the absolute AUM, length of operating history, scheme performance and investment processes together.

How Has the Indian Mutual Fund Industry Grown?

The expansion of the mutual fund industry provides important context for understanding the position of the Top AMC in India.

AMFI data shows that the industry's month-end AUM reached ₹82.64 lakh crore on September 30, 2026. Its monthly average AUM for September stood at ₹87.09 lakh crore.

Industry Indicator Reported Figure
Month-end AUM, September 30, 2026 ₹82.64 lakh crore
Monthly AAUM, September 2026 ₹87.09 lakh crore
Quarterly AAUM, July–September 2026 ₹87.22 lakh crore
Quarterly AAUM growth 4.9%
Month-end AUM, September 30, 2021 ₹36.74 lakh crore
Month-end AUM, September 30, 2016 ₹15.80 lakh crore
Total mutual fund folios, September 2026 28.62 crore
Equity, hybrid and solution-oriented folios Approximately 21.82 crore

The industry has expanded significantly over the last decade:

  • AUM increased from ₹15.80 lakh crore in September 2016 to ₹82.64 lakh crore in September 2026, representing roughly sixfold growth.
  • It increased from ₹36.74 lakh crore in September 2021 to ₹82.64 lakh crore in September 2026, representing roughly threefold growth.
  • The industry first crossed ₹10 lakh crore in May 2014.
  • It crossed ₹20 lakh crore in August 2017 and ₹30 lakh crore in November 2020.
  • Total mutual fund folios reached 28.62 crore by September 2026.

The figures also explain why the largest mutual fund houses in India continue to attract attention. A growing investor base and expanding industry assets create opportunities for established as well as emerging AMCs.

Monthly AUM Trend: October 2025 to September 2026

The monthly AUM series provides another view of the industry's changing asset base.

Month Industry AUM (₹ crore)
October 2025 82,12,632
November 2025 83,66,599
December 2025 83,13,098
January 2026 84,12,780
February 2026 85,18,557
March 2026 76,84,823
April 2026 84,99,542
May 2026 85,26,826
June 2026 85,71,758
July 2026 89,01,946
August 2026 90,87,657
September 2026* 86,76,339

September 2026 figure is marked as data available till the reporting date in the monthly series. Monthly series figures and AMFI's September month-end AUM or monthly AAUM are different reporting measures and should not be directly compared as identical figures.

The March 2026 figure is notably lower than the surrounding months, followed by a recovery in April. Monthly AUM movements can reflect market valuations, inflows, outflows and the reporting measure used. A single month's movement should not be treated as proof of long-term fund-house performance.

Largest AMC in India: Does AUM Decide Which One Is Best?

SBI Mutual Fund is the largest AMC in India by July–September 2026 quarterly AAUM. However, the largest AMC in India is not automatically the Best AMC in India for every investor.

AUM indicates the scale of assets managed by a fund house. It does not tell investors whether a particular scheme has outperformed its benchmark, controlled downside risk or delivered consistent returns.

Consider the difference:

Comparison Parameter What It Tells Investors
AUM Overall size of assets managed by the AMC
Scheme returns Historical performance over selected periods
Benchmark performance Whether a scheme has outperformed its relevant benchmark
Risk measures Volatility, downside risk and portfolio concentration
Expense ratio Cost of investing in a scheme
Fund manager experience Experience and approach of the person managing the scheme
Portfolio composition Stocks, bonds and other securities held by the scheme
Investment process How the AMC selects, monitors and exits investments
Consistency Whether performance has been reasonably sustained across market cycles
Investor services Reporting, disclosures, transaction support and service quality

An AMC may have a large asset base because of its distribution reach, brand recognition, long operating history or strong performance in certain categories. These factors are relevant, but they do not replace scheme-level evaluation.

Top Mutual Fund Companies in India: What Sets Them Apart?

The leading AMCs have different histories, product ranges and investment approaches. Rather than declaring one fund house the universal winner, investors should understand what each name represents in the market.

AMC September 2026 Quarterly AAUM Position in Top 10 What to Examine
SBI Mutual Fund ₹13.10 lakh crore 1 Scheme-level consistency, investment teams and risk management
ICICI Prudential Mutual Fund ₹11.56 lakh crore 2 Performance across equity, debt and hybrid categories
HDFC Mutual Fund ₹9.69 lakh crore 3 Portfolio construction and benchmark-relative performance
Nippon India Mutual Fund ₹7.87 lakh crore 4 Category-wise performance and portfolio concentration
Kotak Mahindra Mutual Fund ₹6.14 lakh crore 5 Investment process, costs and fund manager track record
Aditya Birla Sun Life Mutual Fund ₹4.42 lakh crore 6 Scheme range and performance consistency
UTI Mutual Fund ₹4.02 lakh crore 7 Long-term scheme records and investment approach
Axis Mutual Fund ₹3.83 lakh crore 8 Portfolio changes, risk profile and returns
DSP Mutual Fund ₹2.44 lakh crore 9 Recent asset growth and scheme-level performance
Mirae Asset Mutual Fund ₹2.37 lakh crore 10 Growth in AUM and performance across categories

This comparison is a starting point, not a recommendation or a ranking of investment quality. The Best mutual fund companies in India for one investor may not be suitable for another because financial goals, investment horizons and risk tolerance differ.

Mutual Fund AMC Ranking in India: What Do Return Data and Category Trends Show?

A fund house should not be evaluated only through its total AUM. Investors also need to examine the returns generated by individual schemes and compare them with relevant benchmarks and category peers.

The latest category data available for September 2026 shows that returns differ considerably across equity segments and investment styles.

Equity Category Returns: Key Figures

Mutual Fund Category 1-Year Return 3-Year Return 5-Year Return 10-Year Return
Large Cap -8.26% 9.95% 7.24% 11.31%
Large & Mid Cap -6.73% 10.72% 8.58% 12.23%
Flexi Cap -5.69% 10.27% 7.86% 11.62%
Focused -5.14% 10.94% 8.19% 11.88%
Multi Cap -3.20% 12.51% 10.85% Not available
Mid Cap -3.46% 13.50% 12.10% 14.14%
Small Cap 1.43% 12.95% 12.96% 15.35%
Value Oriented -6.27% 11.70% 10.50% 13.10%
ELSS – Tax Saver -7.89% 9.68% 7.83% 11.55%

Trailing category returns as displayed in the September 2026 category data. Figures are not returns of any single AMC or scheme. Past performance does not guarantee future results.

The data highlights why category comparison matters:

  • Small-cap funds recorded a positive 1-year category return of 1.43%, while several large-cap and diversified equity categories were negative over the same period.
  • Mid-cap funds showed a 3-year category return of 13.50% and a 5-year return of 12.10%.
  • Small-cap funds recorded a 5-year return of 12.96% and a 10-year return of 15.35%.
  • Multi-cap funds recorded a 3-year return of 12.51%, higher than the large-cap category in this comparison.
  • Large-cap funds recorded a 10-year category return of 11.31%.

These figures are category-level historical returns, not a direct ranking of AMCs. They also show why choosing a scheme solely because its AMC is among the Top AMCs in India can be misleading.

Annual Returns Show Why Market Cycles Matter

Calendar-year returns can help investors understand how a category behaves in different market conditions.

Equity Category 2025 2024 2023 2022
Large Cap 8.71% 14.96% 24.44% 3.48%
Large & Mid Cap 1.88% 23.38% 28.31% 1.36%
Flexi Cap 3.33% 19.01% 26.57% 0.64%
Focused 4.78% 19.36% 26.44% 0.95%
Multi Cap 1.78% 24.19% 33.35% 3.54%
Mid Cap 2.44% 26.71% 38.38% 2.26%
Small Cap -5.46% 26.38% 43.72% -0.95%
Value Oriented 6.98% 19.82% 34.10% 6.38%
ELSS – Tax Saver 3.57% 19.26% 27.85% 2.02%

The difference between category returns across years reinforces the importance of examining multiple periods. A category that performs strongly in one calendar year may experience a correction in another. Investors should therefore avoid choosing funds only on the basis of the latest one-year return.

How to Choose the Best AMC in India for Your Investment Needs

The Best AMC in India is not necessarily the one with the highest AUM or the most schemes. A better approach is to shortlist fund houses based on the investment requirements and then compare their individual schemes.

Evaluation Factor Questions to Ask
Investment objective Does the scheme match the goal and investment horizon?
Category Is the scheme's category appropriate for the investor's risk profile?
Performance history Has it performed reasonably across 1-year, 3-year, 5-year and longer periods?
Benchmark Has it delivered competitive benchmark-relative returns?
Risk How much volatility and downside risk has it experienced?
Fund manager Who manages the scheme, and how long have they managed it?
Portfolio Are the holdings diversified and aligned with the stated mandate?
Expense ratio Are the costs reasonable compared with similar schemes?
Fund size Is the AUM appropriate for the scheme's investment strategy?
Disclosure quality Does the AMC provide clear and timely portfolio and scheme disclosures?

AMC vs Mutual Fund vs Fund Manager

These terms are often used together, but they refer to different things.

Term Meaning
Asset Management Company (AMC) The company responsible for managing mutual fund schemes
Mutual Fund An investment vehicle that pools money from investors and invests according to a stated objective
Mutual Fund Scheme A specific investment product offered by an AMC, such as a large-cap or debt fund
Fund Manager The professional responsible for making investment decisions for a scheme
Registrar and Transfer Agent (RTA) The service provider that maintains investor records and processes transactions

An AMC can manage several schemes, each with a different objective, portfolio and risk profile. A fund manager may also manage more than one scheme. This is why investors should evaluate the scheme and its management rather than relying only on the AMC's name.

Top Asset Management Companies in India: Understanding Mutual Fund Categories

The leading mutual fund houses offer schemes across multiple investment categories. Knowing these categories can help investors narrow their search.

Mutual Fund Category Main Investment Focus Broad Risk Consideration
Large Cap Funds Shares of large companies Equity-market risk
Mid Cap Funds Shares of medium-sized companies Higher volatility than large-cap exposure
Small Cap Funds Shares of smaller companies Higher volatility and liquidity risk
Flexi Cap Funds Flexible allocation across market capitalisations Depends on portfolio allocation
Multi Cap Funds Mandatory exposure across large, mid and small caps Diversified equity exposure with market risk
ELSS Equity investments with tax-saving features and a lock-in period Equity-market risk
Debt Funds Debt and money-market instruments Interest-rate and credit risk
Hybrid Funds Combination of equity and debt Depends on asset allocation
Index Funds and ETFs Track a market index Market and tracking-error risk
Sectoral and Thematic Funds Focus on a particular sector or theme Concentration risk

The category should match the investor's financial objective. For example, an investor seeking broad equity exposure may compare flexi-cap or index funds, while someone with a shorter investment horizon may need to examine suitable debt-oriented options and their risks. Investors can explore ALTPORT's mutual fund investment options to review available categories and schemes.

AMC List in India: Mutual Fund AMC vs PMS and AIF

Mutual funds are not the only professionally managed investment structures available in India. Investors may also come across Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs).

Parameter Mutual Funds PMS AIF
Structure Pooled investment scheme Portfolio managed for an individual client Privately pooled investment vehicle
Investor holding Units of a scheme Securities held in the client's portfolio, depending on structure Units or interests in the fund
Minimum investment Scheme-specific Generally ₹50 lakh for a new client Generally ₹1 crore, subject to regulatory exceptions
Portfolio ownership Through mutual fund units Client-level portfolio Through investment in the fund
Investment flexibility Governed by scheme mandate Depends on the agreed portfolio strategy Depends on category and fund strategy
Suitable evaluation Scheme, benchmark, costs and risk Strategy, portfolio holdings, manager and fees Category, strategy, fund manager, liquidity and terms

PMS and AIFs have different structures, eligibility requirements, risks and liquidity conditions. They should not be treated as interchangeable with mutual funds.

Investors can read ALTPORT's mutual fund vs PMS vs AIF comparison guide for a closer look at the differences in structure, ownership, minimum investment, liquidity and portfolio customisation.

For further information, explore Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs).

How to Compare Mutual Fund AMCs in India Before Investing

A practical comparison should go beyond the AMC list in India and focus on the quality and suitability of the schemes.

  1. Shortlist relevant fund houses: Begin with AMCs that offer schemes in the required investment category.
  2. Compare category peers: Evaluate large-cap funds against large-cap funds, rather than comparing them with small-cap or sectoral schemes.
  3. Review multiple return periods: Examine 1-year, 3-year, 5-year and longer-term performance wherever available.
  4. Check benchmark performance: A scheme's returns should be compared with its appropriate benchmark.
  5. Study portfolio concentration: Review the number of holdings, sector exposure and allocation to individual securities.
  6. Understand risk: Consider volatility, drawdowns, credit quality and liquidity, depending on the scheme.
  7. Review costs: Compare expense ratios and other applicable charges.
  8. Assess fund manager continuity: Changes in fund management can affect the investment process.
  9. Read scheme documents: Check the Scheme Information Document, Key Information Memorandum and latest factsheet.
  10. Match the scheme with your goal: Investment horizon, liquidity needs and ability to tolerate losses should guide the final decision.

Final Takeaway: Which Is the Best Mutual Fund AMC in India?

SBI Mutual Fund leads the September 2026 quarterly AAUM ranking, followed by ICICI Prudential and HDFC Mutual Fund. Nippon India and Kotak Mahindra complete the top five, while DSP and Mirae Asset stand out for their recent growth within the top 10.

However, the Top AMC in India by AUM is not automatically the best choice for every investor. AUM reflects scale, while investment suitability depends on the scheme's objective, historical performance, benchmark, risk, cost and management approach.

Investors should use AMC rankings as a starting point and conduct scheme-level comparisons before making decisions. The right fund house is ultimately the one whose investment approach and available schemes align with the investor's financial goals and risk tolerance.

Explore Investment Opportunities with ALTPORT

Understanding mutual fund AMCs is one part of evaluating the investment landscape. Investors who want to explore professionally managed investment options can also review the PMS and AIF opportunities available through ALTPORT.

Visit us to explore investment opportunities, compare fund strategies and learn more about different investment structures. You can also explore the AIF investment landscape and PMS strategies to understand how they differ from conventional mutual fund investments.

Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any mutual fund scheme. Mutual fund investments are subject to market risks. Investors should read scheme-related documents carefully and consider their financial goals, risk tolerance and investment horizon before investing.

Section: Help & Support
Frequently Asked Questions

Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.

SBI Mutual Fund is the largest AMC in India by quarterly average AUM for July–September 2026. Its AAUM stood at approximately ₹13.10 lakh crore, ahead of ICICI Prudential Mutual Fund and HDFC Mutual Fund.

Based on July–September 2026 quarterly AAUM, the top five are SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund and Kotak Mahindra Mutual Fund.

DSP Mutual Fund recorded the highest percentage growth among the top 10 AMCs, with quarterly AAUM increasing by approximately 6.2% compared with the previous quarter.

No. AUM indicates the size of assets managed by an AMC, not the quality or suitability of every scheme it offers. Investors should compare scheme performance, benchmark returns, portfolio risk, expense ratios and investment objectives.

The July–September 2026 AMFI quarterly disclosure includes 57 fund houses. Their asset sizes vary significantly, from large established AMCs to smaller and newer fund houses.

AUM generally refers to the assets managed by a fund house at a particular point in time. AAUM represents the average assets managed over a specified period, such as a month or quarter. Both are useful, but they measure different things.

Investors can begin with AUM rankings to understand the scale of a fund house. They should then compare individual schemes within the same category using historical returns, benchmark performance, risk, portfolio holdings, costs and fund manager experience.

No. Mutual funds are pooled investment schemes, PMS involves managing a client's portfolio under a mandate, and AIFs are privately pooled investment vehicles regulated under a separate framework. Their structures, minimum investments, risks and liquidity terms differ.