AMC Stocks Outperform Market with Up to 57% Gains in Six Months

Over the past six months, asset management company (AMC) equities have outperformed the overall market by a large margin due to consistent retail inflows and structural development in the mutual fund sector. During this time, several AMC counters produced multi-bagger returns, even as the Sensex gained 9.4%.

The largest increase among its peers was around 57.38% for Nippon Life India AMC. Aditya Birla Sun Life AMC increased 46.5%, while HDFC AMC followed with a 54.7% increase. With a 41.5% increase, UTI AMC also produced impressive results. Gains of over 20% were seen by even smaller firms as KFin Technologies and Shriram AMC, indicating widespread momentum in the industry.

SIP Flows Provide Steady Support

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The steady strength of systematic investment plan (SIP) contributions is one of the main reasons supporting the AMC rally. Even if lump-sum inflows were less strong in August 2025, SIP flows were still strong at ₹28,270 crore. This demonstrates how resilient individual investors are, as they persist in allocating their resources to equity markets through consistent monthly investments.

Market experts note that SIPs have become the backbone of the mutual fund industry, providing predictable and sticky inflows even when market volatility affects lump-sum participation. The steady rise in SIP adoption has ensured that AMCs enjoy recurring revenues, which in turn support their stock valuations.

Mutual Fund AUM Expands Rapidly

India’s mutual fund industry has witnessed remarkable growth in assets under management (AUM). From ₹10.8 trillion in 2015, the industry’s AUM jumped sixfold to ₹75.4 trillion in July 2025. According to Bank of Baroda Capital Markets, this figure is expected to cross ₹100 trillion in the coming years, supported by economic expansion, deeper financialisation, and increasing retail participation.

The trend highlights the structural shift in savings behaviour, as more households turn to financial assets over traditional options such as gold and real estate.

Outlook for AMC Sector Remains Bright

Passive funds are also gaining prominence, with their share of total AUM rising to 16.2% as of June 2025. Analysts say that while valuations of AMC stocks have turned more expensive after the sharp rally, strong industry fundamentals continue to support a positive outlook.

Sustained SIP flows, the rise of passive products, and India’s growing investor base are expected to keep AMCs in focus. Experts believe that despite the sharp gains, the sector may still offer further upside, particularly if the industry achieves the projected milestone of ₹100 trillion in AUM.

Conclusion

With leaders such as HDFC AMC, Nippon AMC, Aditya Birla Sun Life AMC, and UTI AMC driving the rally, the asset management sector has firmly established itself as one of the strongest market performers in recent months. Supported by robust SIP inflows and long-term structural growth drivers, AMC stocks are likely to remain attractive to investors despite near-term valuation concerns