What is the projected growth for Indian mutual fund AUM?

The Indian mutual fund industry's assets under management (AUM) are expected to more than double within the next five years.

Which entities are partnering to drive mutual fund growth in India?

Jio Financial Services has entered into a strategic partnership with BlackRock to drive growth in the Indian mutual fund market.

How many investor accounts are there in the Indian mutual fund industry?

As of December 31, 2025, the Indian mutual fund industry has seen its number of folios, or investor accounts, expand significantly to over 26 crore.

Home / Business and Economy / India's Mutual Funds Set to Double AUM by 2029

India's Mutual Funds Set to Double AUM by 2029

4 Feb

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Summary

Indian mutual fund AUM may more than double in five years.
Jio Financial Services partners with BlackRock for growth.
Retail investor accounts have surpassed 26 crore folios.

India's Mutual Funds Set to Double AUM by 2029

The Indian mutual fund industry is on a trajectory to more than double its assets under management (AUM) within the next five years, according to K. V. Kamath, Chairman of Jio Financial Services. This projection aligns with the opportune entry of Jio Financial Services in collaboration with BlackRock, the world's largest asset manager.

Recent data reveals a substantial increase in the industry's AUM, which grew six-fold from ₹12.75 lakh crore in December 2015 to ₹80.23 lakh crore by December 31, 2025. In the past five years alone, AUM has nearly tripled. The number of investor accounts, known as folios, has also expanded dramatically, now exceeding 26 crore as of December 31, 2025.

Retail participation remains robust, with equity, hybrid, and solution-oriented schemes accounting for over 20 crore folios. Open-ended equity funds have been a primary driver of AUM growth, quadrupling in value over five years. This expansion is further fueled by rising systematic investment plan (SIP) adoption and increasing penetration beyond major metropolitan areas.