The rise of digital-first investment platforms such as Zerodha and Groww is changing the way Indians buy mutual funds, but SBI Funds Management believes bank-led asset managers still have a strong edge in scale, trust and distribution. India's asset management companies manage nearly $1 trillion, ( Rs 80 lakh crore) in assets through various schemes.
SBI Funds Management, the asset manager of SBI Mutual Fund, has flagged in its red herring prospectus that India's mutual fund industry is becoming more competitive as niche, digital-first and specialised fund houses gain ground. The company said the market share of the top 10 asset management companies fell from 82.8% in March 2021 to 76.3% in March 2026, showing that smaller and newer players are taking away some share from established names.
