New Delhi, Oct. 1 -- Smaller mutual fund houses are gaining ground in India's actively managed equity mutual fund market, with the market share of the top 10 asset management companies (AMCs) declining to 71.3 per cent in the first four months of FY27 from 73 per cent in FY25, according to a report by Kotak Institutional Equities.

The report, said the shift reflects intensifying competition from mid-sized and smaller fund houses, differences in fund performance and changing distribution dynamics across the mutual fund industry.

Data compiled by Kotak showed that the top 10 AMCs accounted for 71.3 per cent of the market in actively managed equity-oriented mutual fund average assets under management (MAAUM) in the first four months of FY2...