The fund's average Assets Under Management (AUM) was up by Rs 89.87 billion or 6.35 percent, to Rs 1.50 trillion an industry milestone.
ICICI Prudential Mutual Fund maintained its second position at Rs 1.37 trillion, up by 7.13 percent, or Rs 91 billion.
Reliance Mutual Fund was ranked third at Rs 1.26 trillion as its average AUM rose by Rs 40.01 billion or 3.28 percent.
Of the 43 mutual fund houses that declared their average AUM, 30 fund houses posted a rise.
The share of the top-five fund houses was 55 percent, which is same as the previous quarter.     

The industry's AAUM exceeded the Rs 11-trillion mark during the quarter, the release said.
Average AUM rose by 4.34 percent, Rs 459.46 billion, to Rs 11.06 trillion (excluding fund of funds) in the quarter ended December 2014, a CRISIL release said.
The industry's average assets increased by 26.14 percent, or Rs 2.29 trillion in 2014. Growth in the third quarter was primarily driven by rise in assets of equity funds.
Equity funds' average AUM gained 15.53 percent or Rs 451.21 billion to hit record high of Rs 3.36 trillion. For the year, the category gained 71.68 percent or Rs 1.40 trillion.
For 11 months of the year, the category registered inflows of Rs 497.26 billion, compared with outflows of Rs 127.05 billion in the similar period of 2013.
Long-term debt funds' average AUM gained 6.37 percent or Rs 41.91 billion to Rs 700.30 billion, while gilt funds' assets rose 22.86 percent or by Rs 12.99 billion to Rs 69.84 billion.
For the calendar year, long-term debt and gilt funds' assets declined 35 percent and nine percent respectively, the release said.
Short-term debt funds rose for the third consecutive quarter, up 11.04 percent or by Rs 95.30 billion to Rs 958.31 billion. Ultra short-term debt funds rose for the fourth consecutive quarter, up 7.48 percent, or Rs 79.70 billion, to Rs 1.15 trillion. In 2014, short-term debt funds and ultra short-term debt funds witnessed 32 percent and 42 percent rise in assets respectively.
Liquid funds were the biggest drag on industry assets, with the category falling 5.25 percent, or Rs 150.25 billion, to Rs 2.71 trillion. The category witnessed 17 percent rise in assets in 2014.
Assets of fixed maturity plans (FMPs) fell for the second consecutive quarter, down 4.29 percent, or Rs 70.85 billion, to Rs 1.58 trillion.
Gold exchange traded funds (ETFs) continued the downtrend as the category marked its fifth consecutive quarterly fall. The category's AUM fell 6.76 percent, or Rs 5.21 billion, to Rs 71.78 billion. This is due to persistent outflows despite a marginal rise in price of underlying assets during the quarter.
Average AUM of direct plans rose 4.14 percent, or Rs 146.19 billion, to Rs 3.68 trillion at the end of 2014.
The share of direct plans, however, remained steady at 33 percent of the industry's AUM (excluding fund of funds) in the reported quarter compared with the previous quarter but was higher compared with 30 percent in the year-ago quarter, the release said.

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