Individual Investors Stick With Equities In FY25 Despite Persistent Volatility, Institutions Prefer Safer Bets: Amfi

Amfi Annual Report 2025: Despite persistent market volatility in the latter half of FY25, individual investors showed unwavering confidence in equities, keeping a hefty 86 per cent of their mutual fund assets parked in equity-oriented schemes, according to Association of Mutual Funds India’s (Amfi) latest annual report.

Individual investors include retail investors and high net-worth investors (HNIs), those who invest with a ticket size of Rs 2 lakh or above.

On the other hand, institutional investors, true to their typically cautious approach, remained firmly positioned in the fixed-income and passive investment space. Only 18 per cent of their assets were kept in equity-oriented schemes in FY25. A majority of their investments went into money market schemes, which accounted for 31 per cent, and into debt-oriented schemes, which accounted for 24 per cent. The remaining 27 per cent was parked in exchange-traded funds (ETFs) and Fund of Funds (FoFs).

Equity-oriented schemes include equity and balanced funds, Amfi clarified in its annual report.

Individual Investor Assets Composition

As of April 30, 2025, individual investors held Rs 35.90 lakh crore in equity-oriented schemes, a 22.76 per cent YoY growth from Rs 29.24 lakh crore a year earlier.

In other categories, individual investors had Rs 3.64 lakh crore parked in debt-oriented schemes, Rs 1.09 lakh crore in ETFs and FoFs, and Rs 0.99 lakh crore in money market schemes as of April 30, 2025.

Individual Investor MF Holdings Up 20 Per Cent YoY

Individual investors’ total mutual fund assets crossed Rs 41.65 lakh crore, as of April 30, 2025. This is a growth of 20.66 per cent year-on-year (YoY) from Rs 34.52 lakh crore, as of April 30, 2024.

Similarly, institutional investors’ mutual fund assets value increased 23.80 per cent to Rs 27.85 lakh crore, as of April 30, 2025. Their asset value last year during the same time was Rs 22.50 lakh crore.

Individual Investors’ Assets Share Decline

Individual investors now hold a slightly smaller share of the Indian mutual fund industry’s total assets, at 59.9 per cent, as of April 30, 2025, down from 60.5 per cent a year earlier.

On the other hand, institutional investors have increased their share to 40.1 per cent. Of this, corporates make up a significant 94 per cent of this portion. The remaining share is held by Indian and foreign institutions and banks.

The total assets managed by the Indian mutual fund industry grew to Rs 69.50 lakh crore as of April 30, 2025, up 21.90 per cent from Rs 57.01 lakh crore a year earlier.