Asset management companies (AMCs) have demonstrated robust performance compared to other capital market players, said brokerage firm ICICI Securities on Friday.
Stocks such as HDFC AMC, NAM, ABSL, UTI, and MOSL have posted impressive average returns of approximately 43 per cent since the onset of FY26, driven by beneficial regulatory conditions and growing SIP contributions.
ICICI Securities said the monthly gross SIP contributions have increased by 7.6 per cent, reaching Rs 28,500 crore in July 2025. Total SIP assets under management (AUM) have grown by 11.5 per cent over the first seven months of 2025, emphasizing the strength of the mutual fund industry.
The mutual fund industry has further expanded, with total industry AUM rising by 11.1 per cent and total equity MF AUM growing by 9.7 per cent during the same period. These figures underline the enhanced operating parameters for AMCs relative to other market players.
Besides, the industry has witnessed an increase of 2.07 crore in mutual fund folios and the addition of 27 lakh new individual investors within the first half of 2025. This growth suggests a favorable investment climate driven by higher disposable incomes and strategic commission rationalizations, ICICI said.
However, the broader capital market has faced challenges, with systemic equity options premium ADTV declining by 8.7 per cent and cash ADTV reducing by 7.7 per cent since the beginning of 2025. This indicates a stark contrast between the performance of AMCs and other market segments.
Axis noted that despite difficulties in other areas, the number of unique registered investors on the NSE increased by 72.60 lakh, although active clients on the NSE decreased by 35 lakh in the same period. This decrease reflects a shift in investor preference towards AMCs.
ICICI Securities said the growth and stability of AMCs underscore their potential as attractive investment avenues amidst shifting market dynamics, with strong future projections anticipated.