AMFI's October 2026 data shows net equity fund inflows of ₹32,993 crore, about 13.9% lower than September. Small-cap fund inflows fell around 29%, while monthly SIP contributions stayed above ₹32,000 crore.
India’s mutual fund industry ended October 2026 with assets under management (AUM) of ₹83.4 lakh crore, up ₹75,000 crore, or about 0.9%, from ₹82.6 lakh crore at the end of September. The increase in industry assets masked a divergence across segments. Equity fund AUM slipped 1.1% to ₹37.2 lakh crore as a fall in portfolio values outweighed fresh inflows. Assets held through systematic investment plans (SIPs) stood at ₹17.68 lakh crore, accounting for just over a fifth of the industry’s total.
The bigger change was in the flow of money. The industry took in ₹1.74 lakh crore on a net basis in October after recording net redemptions of ₹1.33 lakh crore in September. Debt schemes drove most of that reversal. Equity funds continued to draw fresh money at a slower pace, while hybrid and index funds swung back to net inflows.
Debt mutual funds recorded net inflows of ₹1,13,438 crore in October, following net outflows of ₹1,83,156 crore in September. The recovery was concentrated at the shortest end of the debt market. Liquid funds received ₹70,534 crore and overnight funds drew ₹54,893 crore. Together, they took in more than the entire debt category’s net inflow, with redemptions elsewhere offsetting part of the gains. Corporate bond funds, for instance, saw net outflows of ₹3,143 crore.
That concentration matters when reading the headline figure. Most of the fresh money went into schemes typically used to park cash for short periods. The October numbers therefore say more about demand for short-term cash management than they do about appetite for longer-term debt exposure.
Large-and-mid-cap funds take the lead as equity inflows cool: Equity funds attracted ₹32,994 crore in October, down nearly 14% from ₹38,307 crore in September, when inflows had jumped nearly 31%. October marked the 68th consecutive month of net inflows into equity schemes. Domestic fund flows stayed positive in a month when foreign institutional investors withdrew ₹34,843 crore from Indian equities.
The most striking change was where the equity money went. Large-and-mid-cap funds received ₹8,484 crore, almost twice September’s ₹4,271 crore, and became the biggest recipient of net inflows among equity fund categories. Large-cap funds also drew more money, with inflows rising 20% to ₹1,032 crore.
Small-cap funds still attracted ₹6,408 crore, although that was 29% below September’s level. Mid-cap inflows fell more sharply, by about 38% to ₹4,893 crore, while flexi-cap funds took in ₹4,980 crore, down about 26%. Taken together, the figures point to a shift in the mix of fresh allocations. Dedicated small- and mid-cap funds continued to receive money, even as funds that combine large- and mid-cap exposure gained ground. SIP contributions hold above ₹32,000 crore
Monthly SIP contributions eased about 1% to ₹32,160 crore from ₹32,490 crore in September, staying above ₹32,000 crore for a third straight month. Nearly 10 crore SIP accounts contributed during October, out of 10.80 crore outstanding accounts.
Registration activity was softer than the contribution figure suggests. About 50.68 lakh new SIPs were registered, while 59.12 lakh were stopped or reached the end of their scheduled tenure. The figures show that monthly contributions held steady even as stoppages and scheduled completions together exceeded new registrations.
Hybrid funds recover and silver narrows the gap with gold Hybrid funds recorded net inflows of ₹3,514 crore after net redemptions of ₹457 crore in September. Arbitrage funds brought in ₹3,929 crore and multi-asset allocation funds added ₹1,515 crore. Outflows elsewhere tempered those gains, including ₹853 crore from balanced advantage funds.
Passive products also attracted fresh money. Index funds received ₹3,091 crore, reversing September’s ₹3,614 crore of net outflows, while equity ETFs drew ₹12,974 crore. Total ETF inflows rose nearly 31% to ₹20,304 crore.
Within commodity ETFs, the gap between gold and silver narrowed sharply. Gold ETFs remained ahead with ₹3,474 crore in net inflows, although that was 22% lower than in September. Silver ETF inflows rose about 57% to ₹3,092 crore. Fund houses also launched 28 new fund offers during the month, mobilising ₹3,829 crore across open-ended, closed-ended and fund-of-fund structures.
Monthly flows can shift with market conditions, new fund launches and quarter-end movements in debt funds, so one month's data is best read alongside the longer trend. Full category-wise data is available on AMFI's website.
