Post-Covid, the Indian Mutual Fund industry has seen accelerating passive adoption, with the segment’s share in total MF AUM rising to double digits, ~17.1% in Sep’25 from ~9% in Mar’21.
India’s mutual fund landscape is experiencing a structural shift towards passive investing, with QAAUM share rising to ~17.1% as of Sep’25 (vs 7% in FY20). Over Sep’21–Sep’25, ETFs/Index Funds delivered AUM CAGRs of 28%/81% (vs total equity at 28%).