The AUM growth in B30 cities in India has outpaced the growth in the T30 cities in the past 5 years. The equity cult and financialization of assets as a theme is picking up pace, it is evident as data shows that the mutual funds are moving beyond the top 15 cities, according to a press note on the Indian Mutual Fund industry by Franklin Templeton India Mutual Fund.
As per the industry data collated by the fund house, the share of B15 cities have risen from 25% in March 2020 to 35% in March 2025. The share of B30 AUM in Industry AUM increased from 16% in Dec 2020 to 18% in Apr 2025. Telangana (33.05%) and Haryana (27.86%) were among the top 10 states to contribute to AAUM in the past one year.
Also Read | Mutual funds cut exposure in Adani Group, offload over 85 lakh shares in April
Flexicap receives highest inflows, ELSS highest outflows
The sectoral/thematic funds category witnessed the highest gross/net sales over the last 12 months. The flexicap category received the highest AUM with over Rs 1 lakh crore inflows, whereas ELSS was the only equity category with negative net sales in April 2025.
Passive funds leads the growth path
Investors' preference remains for passive funds, as per data. The passive fund folios have grown 16X in the last five years, and nearly doubled since December 2021.
Also Read | Helios Flexi Cap Fund exits Reliance Industries, adds 3 stocks in April
Passive AUM at an all-time high
Passive funds’ AUM were at an all-time high of Rs 11.67 lakh crore in April 2025 from Rs 9.38 lakh crore a year ago, witnessing an impressive 24% growth. The share of passive AUM rose from 10% of total AUM in April 2021 to 17% in April 2025.
Mutual Funds are now a dominant force vs FPIs
Domestic funds powered by steady SIP flows have now become a dominant force. It has many times negated the impact of outflows by FPIs. Net inflows for DIIs were Rs 5.9 lakh crore for the last 12 months (till April 2025) vs net outflows of Rs 3.6 lakh crore for FPIs.
As per the industry data collated by the fund house, the share of B15 cities have risen from 25% in March 2020 to 35% in March 2025. The share of B30 AUM in Industry AUM increased from 16% in Dec 2020 to 18% in Apr 2025. Telangana (33.05%) and Haryana (27.86%) were among the top 10 states to contribute to AAUM in the past one year.
Also Read | Mutual funds cut exposure in Adani Group, offload over 85 lakh shares in April Flexicap receives highest inflows, ELSS highest outflows
The sectoral/thematic funds category witnessed the highest gross/net sales over the last 12 months. The flexicap category received the highest AUM with over Rs 1 lakh crore inflows, whereas ELSS was the only equity category with negative net sales in April 2025.
Passive funds leads the growth path
Investors' preference remains for passive funds, as per data. The passive fund folios have grown 16X in the last five years, and nearly doubled since December 2021.
Also Read | Helios Flexi Cap Fund exits Reliance Industries, adds 3 stocks in April
Passive AUM at an all-time high
Passive funds’ AUM were at an all-time high of Rs 11.67 lakh crore in April 2025 from Rs 9.38 lakh crore a year ago, witnessing an impressive 24% growth. The share of passive AUM rose from 10% of total AUM in April 2021 to 17% in April 2025.
Mutual Funds are now a dominant force vs FPIs
Domestic funds powered by steady SIP flows have now become a dominant force. It has many times negated the impact of outflows by FPIs. Net inflows for DIIs were Rs 5.9 lakh crore for the last 12 months (till April 2025) vs net outflows of Rs 3.6 lakh crore for FPIs.
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