Amfi Data May: Equity Mutual Funds Continue To See Positive Flows For 51 Straight Month

Mutual Fund Data: Net inflows into equity-oriented mutual funds (MF) fell 21.65 per cent in May 2025 to Rs 19,013.12 crore as against Rs 24,269.26 crore inflow in the previous month, showed data released by the Association of Mutual Funds of India (Amfi) on June 10. This is the 51st straight month of net inflows into open-ended equity funds, starting in March 2021.

The net inflows shrank even as the stock market showed considerable recovery. In May, the Sensex surged 1208.8 points, or 1.5 per cent, while the Nifty 50 climbed 416.5 points, or 1.7 per cent.

Meanwhile, the net assets under management (AUM) of the overall mutual fund industry rose to Rs 72.19 lakh crore, growing by 3.14 per cent from Rs 69.99 lakh crore in April 2025.

SIP Inflows Hit Fresh Record High

Mutual fund investments via the Systematic Investment Plan (SIP) route touched a fresh high of Rs 26,688 crore in May, up 0.21 per cent from the previous month’s Rs 26,632 crore inflows, showing steady retail participation even as overall equity fund inflows saw a dip.

Amfi data showed the number of active SIP accounts rose to 8.56 crore in May, up from 8.38 crore in April.

The total SIP AUM rose to Rs 14.61 lakh crore as of May 31, 2025, up from Rs 13.90 lakh crore in the previous month. The SIP AUM accounts for 20.24 per cent of the mutual fund industry’s total AUM, up slightly from 19.9 per cent a month earlier.

Largecap Funds See Sharp Fall In Inflows

MF investors seemed less excited about bluechip funds in May as net inflows into largecap funds more than halved on a month-on-month (MoM) basis to Rs 1,250.47 crore, declining 53 per cent from inflows of Rs 2,671.46 crore in April. At the end of the month, largecap funds net AUM stood at Rs 3.84 lakh crore.

The midcap category too saw net inflows decline by 15.24 per cent MoM to Rs 2,808.68 crore, from Rs 3,313.98 crore in April. Similarly, the smallcap category also witnessed a drop in net inflows to Rs 3,214.21 crore during the month, as against previous month’s Rs 3,999.95 crore inflows.

The net AUM of midcap and smallcap funds by May-end stood at Rs 4.08 lakh crore and Rs 3.36 lakh crore, respectively.

Under the equity category, Flexicap funds saw the highest inflows during the month, Rs 3,841.32 crore.

Debt Funds See Sharp Turnaround

Debt mutual funds saw net outflows of Rs 15,908 crore in May, a sharp turnaround from Rs 2.19 lakh crore inflows seen in April. The net AUM of debt funds declined marginally by 0.16 per cent to Rs 17.54 lakh crore as of May 31, 2025.

Liquid funds, which invests in debt and money market securities with maturity of up to 91 days only, saw the highest outflow of Rs 40,205.36 crore as against Rs 1,18 lakh crore in April. Liquid funds net AUM shrank 6.63 per cent to Rs 5,22,714.52 crore.

Money market funds saw a net inflow of Rs 11,223.08 crore, down 64.38 per cent from Rs 31,507.04 inflow in April.

Inflows into corporate bond funds, however, rose to Rs 11,983.35 crore, up 246.5 per cent from previous month's Rs 3,458.42 crore inflow.

Gilt funds saw an inflow of Rs 1,385.93 crore as against April's Rs 425.05 crore outflow.

Hybrid Fund Inflows Grow Over 45 Per Cent MoM

Inflows into hybrid funds, which invest in a mix of equities and debt securities, increased 45.74 per cent to Rs 20,765.05 crore. In April, these funds saw an inflow of Rs 14,247.55 crore.

Arbitrage funds witnessed the highest inflows in the hybrid category during the month, amounting to Rs 15,701.97 crore, up from Rs 11,790.37 crore inflow in April.