An analysis of AMFI data on folio count shows that top 10 AMCs (in AUM terms) account for 84% of the total industry folios. The total folio count of these fund houses grew 23%, from 4.85 crore in FY 2016-17 to 5.98 crore in FY2017-18, an increase of over 1.13 crore folios in a year. In 2016-17, the top 10 AMCs constituted 85% of the total industry folios.
The total folio count of the MF industry stood at 7.14 crore, as on March 2018.
UTI MF retained the top spot with 1.07 crore folios with 15% market share. However, compared to last year its total number of folios decreased marginally by 1%. Reliance MF and HDFC MF followed UTI MF with 81.72 lakh folios (11% market share) and HDFC MF with 81.23 lakh folios (11% market share) respectively.
In absolute terms, Aditya Birla Sun Life MF leads the pack with 20.92 lakh new folios that is a 53% increase in folio count. A. Balasubramanian, CEO - Aditya Birla Sun Life AMC attributes the increase in folios to their focus on expanding their retail investor base.
Following on the heels of Aditya Birla Sun Life MF are HDFC MF with 19.01 lakh folios, ICICI Prudential MF with 16.59 lakh folios and SBI MF with 15.30 lakh folios. D. P. Singh, ED and CMO, SBI MF feels that the fund house’s presence across multiple locations, SBI bank’s spread across remote locations in India and new fund launches (NFOs) have helped the fund house attract new investors.
Folio growth in absolute terms: FY 2017-18
Rank |
Fund House |
Total Number of Folios |
Total Number of Folios |
Number of Folios added |
Market Share in terms of folio holding |
1 |
Aditya Birla Sun Life Mutual Fund |
6049280 |
3957325 |
2091955 |
8% |
2 |
HDFC Mutual Fund |
8123307 |
6221774 |
1901533 |
11% |
3 |
ICICI Prudential Mutual Fund |
6654129 |
4994923 |
1659206 |
9% |
4 |
SBI Mutual Fund |
6714520 |
5184873 |
1529647 |
9% |
5 |
L&T Mutual Fund |
2443739 |
1058840 |
1384899 |
3% |
6 |
Reliance Mutual Fund |
8172431 |
6846156 |
1326275 |
11% |
7 |
DSP BlackRock Mutual Fund |
5014001 |
4066627 |
947374 |
7% |
8 |
Kotak Mahindra Mutual Fund |
2053981 |
1222889 |
831092 |
3% |
9 |
Axis Mutual Fund |
2723311 |
2102043 |
621268 |
4% |
10 |
Mirae Asset Mutual Fund |
938894 |
435061 |
503833 |
1% |
11 |
Franklin Templeton Mutual Fund |
3638177 |
3145123 |
493054 |
5% |
12 |
Motilal Oswal Mutual Fund |
742130 |
341279 |
400851 |
1% |
13 |
Tata Mutual Fund |
1454860 |
1153594 |
301266 |
2% |
14 |
Sundaram Mutual Fund |
1678275 |
1430764 |
247511 |
2% |
15 |
Canara Robeco Mutual Fund |
830608 |
643349 |
187259 |
1% |
16 |
Invesco Mutual Fund |
421463 |
297442 |
124021 |
1% |
17 |
Mahindra Mutual Fund |
126737 |
37814 |
88923 |
0% |
18 |
PRINCIPAL Mutual Fund |
513140 |
430581 |
82559 |
1% |
19 |
IDBI Mutual Fund |
321939 |
249449 |
72490 |
0% |
20 |
Union Mutual Fund |
202861 |
132411 |
70450 |
0% |
21 |
BNP Paribas Mutual Fund |
269046 |
208454 |
60592 |
0% |
22 |
Baroda Pioneer Mutual Fund |
360734 |
309415 |
51319 |
1% |
23 |
Edelweiss Mutual Fund |
140551 |
96930 |
43621 |
0% |
24 |
PPFAS Mutual Fund |
19033 |
11297 |
7736 |
0% |
25 |
Essel Mutual Fund |
53833 |
47138 |
6695 |
0% |
26 |
Quantum Mutual Fund |
60702 |
56260 |
4442 |
0% |
27 |
LIC Mutual Fund |
332415 |
330422 |
1993 |
0% |
28 |
IIFL Mutual Fund |
19941 |
18826 |
1115 |
0% |
29 |
DHFL Pramerica Mutual Fund |
111428 |
111135 |
293 |
0% |
30 |
Shriram Mutual Fund |
4462 |
5330 |
-868 |
0% |
31 |
Sahara Mutual Fund |
16540 |
18736 |
-2196 |
0% |
32 |
Taurus Mutual Fund |
120732 |
126107 |
-5375 |
0% |
33 |
JM Financial Mutual Fund |
143021 |
154336 |
-11315 |
0% |
34 |
HSBC Mutual Fund |
140099 |
156459 |
-16360 |
0% |
35 |
UTI Mutual Fund |
10712390 |
10769529 |
-57139 |
15% |
36 |
BOI AXA Mutual Fund |
60508 |
NA |
|
0% |
37 |
Escorts Mutual Fund |
NA |
NA |
|
|
38 |
IDFC Mutual Fund |
NA |
658445 |
|
|
39 |
IIFCL Mutual Fund (IDF) |
NA |
NA |
|
|
40 |
IL&FS Mutual Fund (IDF) |
74 |
NA |
|
0% |
41 |
Indiabulls Mutual Fund |
NA |
7378 |
|
|
42 |
SREI Mutual Fund (IDF) |
NA |
NA |
|
|
Source: AMFI
Amongst other mutual funds, L&T MF and Kotak Mahindra MF have substantially increased their investor base with L&T MF, more than doubling its folio count by recording a 131% increase in folios compared to last year. Kailash Kulkarni, CEO, L&T MF ascribes this growth to three factors – good performance of schemes, increased distributor engagement and significant increase in investments through online platforms.
Manish Mehta, National Head – Sales, Kotak Mahindra MF credits the 68% increase in folios to the various campaigns conducted by the fund house, support from financial advisors, consistent scheme performance and positive experience of existing investors. “Last year, we conducted many IAPs and SIP campaigns, which helped improve our visibility and increased acceptance amongst retail investors. This combined with strong support from our distribution partners have helped us in acquiring new investors.”
Folio growth in percentage terms: FY 2017-18
Rank |
Fund House |
Total Number of Folios |
Total Number of Folios |
Percentage change |
1 |
Mahindra Mutual Fund |
126737 |
37814 |
235% |
2 |
L&T Mutual Fund |
2443739 |
1058840 |
131% |
3 |
Motilal Oswal Mutual Fund |
742130 |
341279 |
117% |
4 |
Mirae Asset Mutual Fund |
938894 |
435061 |
116% |
5 |
PPFAS Mutual Fund |
19033 |
11297 |
68% |
6 |
Kotak Mahindra Mutual Fund |
2053981 |
1222889 |
68% |
7 |
Union Mutual Fund |
202861 |
132411 |
53% |
8 |
Aditya Birla Sun Life Mutual Fund |
6049280 |
3957325 |
53% |
9 |
Edelweiss Mutual Fund |
140551 |
96930 |
45% |
10 |
Invesco Mutual Fund |
421463 |
297442 |
42% |
11 |
ICICI Prudential Mutual Fund |
6654129 |
4994923 |
33% |
12 |
HDFC Mutual Fund |
8123307 |
6221774 |
31% |
13 |
Axis Mutual Fund |
2723311 |
2102043 |
30% |
14 |
SBI Mutual Fund |
6714520 |
5184873 |
30% |
15 |
Canara Robeco Mutual Fund |
830608 |
643349 |
29% |
16 |
BNP Paribas Mutual Fund |
269046 |
208454 |
29% |
17 |
IDBI Mutual Fund |
321939 |
249449 |
29% |
18 |
Tata Mutual Fund |
1454860 |
1153594 |
26% |
19 |
DSP BlackRock Mutual Fund |
5014001 |
4066627 |
23% |
20 |
Reliance Mutual Fund |
8172431 |
6846156 |
19% |
21 |
PRINCIPAL Mutual Fund |
513140 |
430581 |
19% |
22 |
Sundaram Mutual Fund |
1678275 |
1430764 |
17% |
23 |
Baroda Pioneer Mutual Fund |
360734 |
309415 |
17% |
24 |
Franklin Templeton Mutual Fund |
3638177 |
3145123 |
16% |
25 |
Essel Mutual Fund |
53833 |
47138 |
14% |
26 |
Quantum Mutual Fund |
60702 |
56260 |
8% |
27 |
IIFL Mutual Fund |
19941 |
18826 |
6% |
28 |
LIC Mutual Fund |
332415 |
330422 |
1% |
29 |
DHFL Pramerica Mutual Fund |
111428 |
111135 |
0% |
30 |
UTI Mutual Fund |
10712390 |
10769529 |
-1% |
31 |
Taurus Mutual Fund |
120732 |
126107 |
-4% |
32 |
JM Financial Mutual Fund |
143021 |
154336 |
-7% |
33 |
HSBC Mutual Fund |
140099 |
156459 |
-10% |
34 |
Sahara Mutual Fund |
16540 |
18736 |
-12% |
35 |
Shriram Mutual Fund |
4462 |
5330 |
-16% |
36 |
BOI AXA Mutual Fund |
60508 |
NA |
|
37 |
Escorts Mutual Fund |
NA |
NA |
|
38 |
IDFC Mutual Fund |
NA |
658445 |
|
39 |
IIFCL Mutual Fund (IDF) |
NA |
NA |
|
40 |
IL&FS Mutual Fund (IDF) |
74 |
NA |
|
41 |
Indiabulls Mutual Fund |
NA |
7378 |
|
42 |
SREI Mutual Fund (IDF) |
NA |
NA |
Source: AMFI