AMFI data shows 27% of retail investors opted for direct investments: ICRA Analytics report

Data from AMFI showed that 19% of the assets of the mutual fund industry came from B30 locations in September 2025. Assets from B30 locations increased from Rs 14.14 trillion in Aug 25 to Rs 14.50 trillion in Sep 25, representing a growth of 2.6%. On a yearly basis, the same rose by 15%. Assets from T30 locations also grew by 14% year over year in September 2025.

B30 location continued to tend towards equity assets. In Sep 2025, nearly 76.60% of the assets from B30 locations were in equity schemes, and 9.12% in balanced schemes. Close to 11.67% of the assets from the B30 location are in debt-oriented schemes, while the same from the T30 location accounts for 30.39%, as per the ICRA Analytics report.

In September 2025, 27.52% of assets held by individual investors are from B30 locations, while 4.93% of institutional assets are from B30 locations. Institutional assets are concentrated in T30 locations, accounting for 95.07% of the total. In Sep 2024, 26.94% of assets were held by individual investors from B30 locations, and 4.82% of institutional assets were held by institutions from B30 locations.

As of September 2025, approximately 27.37% of retail investors opted for direct investments, while 65.30% chose the route of Non-Associate Distributors. Nearly 28.90% of High Net Worth Individual (HNI) assets were directly invested. Additionally, 47.70% of the mutual fund industry's assets were invested directly, and 45.96% came from Non-Associate Distributors, per the ICRA Analytics report.

In September, mutual funds experienced an outflow of ₹43,143 crore, reversing the ₹52,443 crore inflow in August. The total net assets under management (AUM) increased slightly by 0.53% to ₹75.61 lakh crore. Equity AUMs grew by 1.81%, reaching ₹33.7 lakh crore.

Equity mutual funds attracted substantial investor interest, recording inflows of ₹30,422 crore in September, which is a 9% decline from August. In contrast, debt funds experienced large outflows of ₹1.02 lakh crore. August saw outflows of ₹7,979 crore, whereas July saw inflows of ₹1.07 lakh crore.

Meanwhile, precious metals like gold and silver have performed strongly in recent months. In September, investments in gold nearly quadrupled, increasing from approximately ₹2,000 crore in August to about ₹8,300 crore.