Nippon India MF tops mutual fund industry with over 4 crore folios

Nippon India Mutual Fund (MF) has become the first asset management company in the country to cross the 4-crore folio milestone, according to industry data.

As per the data from the Association of Mutual Funds in India (Amfi), the mutual fund industry had 27.86 crore folios at the end of June, with Nippon India MF accounting for 14.4 per cent (4.02 crore folios) of the total. Also, the fund house said it had the industry’s largest unique investor base at 2.41 crore, accounting for 39 per cent of the industry’s 6.19 crore unique investors.

“We are humbled to have the trust of 4 crore investors and a 39 per cent share of India’s unique investor base. This milestone reflects the wealth creation journey we have enabled for millions of retail investors,” Sundeep Sikka, MD and CEO of Nippon Life India Asset Management, said.

He added that the company continues to channel household savings into India’s capital markets while facilitating Japanese investors’ participation in India’s growth story.

Among other major fund houses, ICICI Prudential Mutual Fund had 3.18 crore folios, followed by HDFC Mutual Fund at 3.11 crore, SBI Mutual Fund at 2.24 crore and UTI Mutual Fund at 1.42 crore. The remaining fund houses in the top 10 by folio count were Axis Mutual Fund (1.35 crore), Tata Mutual Fund (1.28 crore), Kotak Mahindra Mutual Fund (1.19 crore), Aditya Birla Sun Life Mutual Fund (1.11 crore) and DSP Mutual Fund (1.03 crore).

Collectively, the top 10 AMCs accounted for 19.94 crore folios, or 71.6 per cent of the industry’s total, while the remaining fund houses contributed 7.92 crore folios, representing 28.4 per cent.

The industry had 6.19 crore unique investors as at June-end, indicating that the average investor holds multiple mutual fund accounts across schemes and fund houses.

The gap between folio count and unique investors reflects increasing portfolio diversification among retail investors.