Mutual Funds Add 4.05Cr Folios in 2025: Nippon & HDFC Top Charts

As per CafeMutual Analysis, the Indian mutual fund industry is witnessing a massive wave of retail participation, with three major players leading the charge in getting new investors. During the calendar year 2025, Nippon India Mutual Fund, HDFC Mutual Fund, and Motilal Oswal Mutual Fund emerged as the top three AMCs (Asset Management Companies) in terms of adding new folios, projecting a clear indicator of growing investor trust.

A Year of Growth

The industry as a whole saw a 18.17% jump in total folio counts, soaring from 22.30 crore in December 2024 to 26.35 crore by December 2025. This surge highlights a significant shift in how Indians are saving, with more people moving away from traditional bank deposits and towards the equity markets.

The top 10 fund houses alone contributed more than 3.19 crore investor additions. Among them, Nippon India took the lead for the highest investor additions, while Motilal Oswal grabbed headlines for having the fastest growth rate in the business.

Breaking Down the Top Performers

Here is a look at how the top 10 players stacked up in terms of new folio additions by the end of 2025:

1. Nippon India Mutual Fund - 56,54,366

2. HDFC Mutual Fund - 55,30,831

3. Motilal Oswal Mutual Fund - 41,05,603

4. ICICI Prudential Mutual Fund - 40,70,926

5. Tata Mutual Fund - 32,15,053

6. SBI Mutual Fund - 26,86,869

7. PPFAS Mutual Fund - 21,45,604

8. Bandhan Mutual Fund - 17,85,918

9. Kotak Mutual Fund - 14,20,620

10. Jio BlackRock Mutual Fund - 12,41,451

Key Data Insights

Here is a straightforward look at how the top players performed, moving from their 2024 totals to their 2025 milestones:

Nippon India MF: Jumped from 3.10 crore to 3.66 crore folios. By adding 5.6 million new accounts, they leveraged their massive reach in smaller towns to stay at the top.

HDFC MF: Grew from 2.21 crore to 2.76 crore folios. That’s a gain of 5.5 million accounts, proving that their established brand name still pulls in massive volume.

Motilal Oswal MF: Increased from 80.14 lakh to 1.21 crore folios. They added 4.1 million accounts, a 51% surge driven by their specific focus on high-conviction and passive funds.

Emerging Trends and New Entrants

ICICI Prudential & Tata MF: Both crossed the 3 million new folio mark, securing their spots in the top five.

Zerodha MF: More than doubled its base, growing from 4.76 lakh to 11.72 lakh folios—a massive 145% increase.

Jio BlackRock: Started at zero and hit 12.41 lakh folios in its first year, showing how quickly they can scale.

Why Does This Matter?

This financialization of savings is a fancy way of saying that Indians are finally breaking up with traditional, low-yield savings habits. With the industry adding more than 4 crore folios in a year, the message is clear: the Indian retail investors are looking to diversify into other financial products that earn higher returns with a long term horizon.