New Delhi, Dec. 12 -- Retail investors who dominate active mutual funds take a backseat when it comes to passive funds despite a relatively quicker investment pace, according to data from the Association of Mutual Funds of India (Amfi).

While passive mutual funds more than doubled their assets in the last three years, retail still accounts for a small portion of these funds' assets, data showed. This, while they ramp up such investments at a faster pace than the national provident fund, high net-worth individuals (HNIs), and cash-rich corporates.

Since September 2022, assets under management (AUM) of passive mutual funds grew 2.3x to Rs.12.99 trillion as of September. Of this, retail investors contributed 7.1%, up from 4.01% in Septembe...