Equity Mutual Fund Inflows Decline 19% in October; AUM Rises to ₹79.87 Lakh Crore

Equity mutual fund inflows declined to ₹24,690 crore in October 2025, a 19% fall from ₹30,422 crore in September, according to the latest data released by the Association of Mutual Funds in India (AMFI).

Despite the slowdown in equity inflows, the total Assets Under Management (AUM) of the mutual fund industry grew to ₹79.87 lakh crore in October, up from ₹75.61 lakh crore in the previous month. Equity AUM alone rose to ₹35.16 lakh crore from ₹33.7 lakh crore in September, indicating sustained investor participation.

Category-Wise Performance

The decline in equity inflows was broad-based across most fund categories.

• Small-cap funds recorded inflows of ₹3,476 crore, lower than ₹4,363 crore in September.

• Mid-cap funds saw a sharper dip to ₹3,807 crore from ₹5,085 crore.

• Large-cap funds registered inflows of just ₹972 crore, reflecting muted investor sentiment in that segment.

• ELSS funds and dividend yield funds experienced net outflows of ₹666 crore and ₹179 crore, respectively.

However, flexi-cap funds bucked the overall trend, attracting ₹8,929 crore in inflows compared to ₹7,029 crore last month — emerging as the top-performing category in October.

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Debt Funds Witness Strong Comeback

In contrast, debt-oriented mutual funds reported a sharp rebound in October, with net inflows of ₹1.59 lakh crore, compared to an outflow of ₹1.01 lakh crore in September.

The surge was led by liquid funds, which saw inflows of ₹89,375 crore as corporates and institutions redeployed short-term surplus funds after the quarter-end.

Other categories also reported healthy inflows:

• Money market funds: ₹17,916 crore

• Ultra-short duration funds: ₹15,067 crore

• Overnight funds: ₹24,051 crore

Meanwhile, gilt, dynamic bond, and floater funds continued to record minor outflows.

Gold ETFs and Retail Participation

Gold ETFs witnessed moderate inflows of ₹7,743 crore, slightly lower than ₹8,363 crore in September and ₹2,190 crore in August.

Retail participation remained strong, with mutual fund folios rising to 25.60 crore in October. The month also saw 18 new open-ended schemes launched across categories, raising ₹6,062 crore in total.

Industry Outlook

Despite the 19% month-on-month decline in equity inflows, the positive AUM growth highlights continued investor confidence in mutual funds. Retail participation remains robust even as investors appear more selective amid market volatility and elevated valuations.

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