Mutual Fund Industry's Quarterly AUM Rises 5% to ₹87.2 Lakh Crore in Q2 FY27

Key Takeaways

• The mutual fund industry's average quarterly assets under management increased to ₹87.2 lakh crore during July–September 2026.
• Average AUM stood at ₹83.1 lakh crore in the preceding quarter, indicating growth of approximately ₹4.1 lakh crore.
• The increase was recorded despite volatility in equity markets, with inflows across mutual fund categories supporting asset growth.

Mutual Fund Industry Records 5% Quarterly AUM Growth

India's mutual fund industry reported a 5% increase in average assets under management (AUM) during the second quarter of financial year 2026–27. Quarterly average AUM reached ₹87.2 lakh crore in July–September 2026, compared with ₹83.1 lakh crore in April–June 2026.

The increase represents approximately ₹4.1 lakh crore in additional average assets over the preceding quarter.

The figures, reported by Business Standard on 7 October, indicate continued expansion in the mutual fund industry's asset base despite fluctuations in domestic equity markets.

What the Quarterly AUM Figures Show

Quarterly average AUM measures the average value of assets managed by mutual fund houses over a three-month period. It differs from month-end AUM, which represents assets at a particular reporting date.

The increase reflects a combination of investment flows and changes in the market value of securities held by mutual fund schemes.

Growth in average AUM does not necessarily mean that the industry received an equivalent amount in net fresh investments. Equity market movements, debt security valuations and investor transactions all influence the total asset base.

Mutual Fund Assets Expand Despite Market Volatility

The September quarter included periods of volatility in domestic equities. Nevertheless, mutual fund houses reported higher average assets across the quarter.

Inflows into different categories supported the industry's asset base, although the overall quarterly AUM figure does not establish how much each category contributed.

Equity-oriented schemes, debt funds, hybrid products and passive investment vehicles are all included in industry-level asset calculations. Their respective contributions depend on subscriptions, redemptions and changes in portfolio valuations.

Why the Industry Data Matters

Quarterly average AUM is an important measure of the scale of India's asset management industry.

It also provides a basis for comparing the relative size of fund houses and examining changes in industry participation across reporting periods.

The rise from ₹83.1 lakh crore to ₹87.2 lakh crore confirms that the industry's average managed asset base expanded during Q2 FY27. However, category-wise net flow data is required to distinguish investor subscriptions from market-related valuation changes.