Asset Management & Mutual Funds Industry in India

India’s asset management and mutual funds industry brings together firms that steward savings through pooled funds, portfolios and specialist mandates.

Top asset management & mutual funds companies in India (CIN-registered statutory-filing scope) (listed and private)

Frequently asked questions

How large is the asset management & mutual funds industry in India?

118 asset management & mutual funds companies with statutory filings (5 listed, 113 private) reported combined total income of ₹8,120 crore in FY2025, +28.8% on the same companies. As filed each year, combined total income was ₹1,873 crore in FY2018, reached ₹8,120 crore in FY2025, the highest in the period; year-on-year changes are measured on the same companies. The 4 listed companies with an exchange price are worth ₹19,257 crore in market capitalisation. Size here is measured in total income, profit and market value, from statutory filings and exchange prices, not in physical volume of output.

Is profitability improving or deteriorating?

Deteriorating. Net profit margin was 31.8% of total income in FY2025, 0.2 pts below FY2024.

Which companies are leading the asset management & mutual funds industry?

Within the CIN-registered statutory-filing scope, By FY2025 total income the largest asset management & mutual funds companies are Sbi Funds Management (₹4,063 crore, private); Kotak Mahindra Asset Management Company (₹1,508 crore, private); Motilal Oswal Asset Management Company (₹1,370 crore, private); Axis Asset Management Company (₹1,265 crore, private); Anand Rathi Wealth (₹981 crore). 23 of the 25 largest are private companies, which a listed-only view leaves out.

Where is demand or investment changing?

In the news: Credit quality carried 1.3% of asset management & mutual funds stories in 2025-06 to 2026-05, up 0.3 pts (+27%) on the prior 12 months; net tone +54 vs +33 for all asset management & mutual funds stories. In buyer searches: Stories pairing asset management & mutual funds with pension and provident funds rose +19% as a share of India news in the last four quarters to Q1 FY27 vs the four before (193 stories). On the map: Of 497 register-listed asset management & mutual funds providers, Maharashtra has 135 (27.2%), Delhi 68 and Karnataka 44.

What should I investigate next?

These are the findings that fired on the data, negative signals first, each with the topic that holds the evidence: 5 private asset management & mutual funds managers pass an IPO-readiness screen (Top asset management & mutual funds companies in India). Credit quality is gaining the most ground in asset management & mutual funds news (Asset Management & Mutual Funds in the news). Pension and provident funds gained the most ground in asset management & mutual funds news (Search & demand signals). Same-company total income CAGR FY2022–FY2025: asset management & mutual funds +23.5% a year; fastest of the others real estate (+17.3% a year), slowest construction & infrastructure (+14.1% a year). (Industry financials). Of 497 register-listed asset management & mutual funds providers, Maharashtra has 135 (27.2%), Delhi 68 and Karnataka 44. (Geo intelligence).

How are asset management & mutual funds stocks valued?

The median trailing P/E is 43.5× across 4 priced companies.

What does this industry cover?

It covers asset managers, mutual fund managers, portfolio managers and related firms that oversee investment mandates.

How are private companies selected?

The private universe begins with relevant statutory activity codes and name-based screening, followed by review for scope and duplication.

Research information, not investment advice.