Amfi Monthly Data: Equity MF Inflows Decline 9% MoM To Rs 30,421 Crore In September 2025

Equity-oriented mutual funds attracted net inflows of Rs 30,421.69 crore in September 2025, as per monthly data released by the Association of Mutual Funds in India (Amfi) on October 10, 2025. This is also the 55th consecutive month of positive flows into equity funds. In August, the inflows were Rs 33,430 crore, and in July it was Rs 42,702.35 crore. This represents a month-on-month (m-o-m) decline of 9 per cent.

Overall, the mutual fund industry saw net outflows of Rs 43.15 lakh crore in September, reversing from the inflows of Rs 52.44 lakh crore seen in August. In July, the industry had seen a net inflow of Rs 1.78 lakh crore.

However, the net assets under management (AUM) of the overall mutual fund industry by the end of the month grew to Rs 75.61 lakh crore. It was Rs 75.18 lakh crore in August, and Rs 75.36 lakh crore in July 2025.

In September 2025, 9 new schemes were launched across various segments. These new fund offerings (NFO) mobilised a total of Rs 1,959 crore.

Venkat N Chalasani, Chief Executive, Amfi, said, "The mutual fund industry maintained its growth momentum in September, with total assets rising to Rs 75.61 lakh crore despite temporary outflows linked to advance tax payments. Equity funds witnessed positive inflows for the 55th consecutive month, reflecting investors’ confidence in equities as a long-term asset class.”

SIP Inflows Rise 4% MoM

Inflows via the Systematic Investment Plan (SIP) route came in at Rs 29,360.66 crore in September, 3.87 per cent more than Rs 28,265 crore in August.

The total SIP AUM stood at Rs 15.52 lakh crore, up from Rs 15.18 lakh crore in the previous month. Investments via SIPs account for about 20.2 per cent of the mutual fund industry’s total assets. During the month, the number of active SIP accounts stood at 9.25 crore.

Equity Mutual Fund Inflows Category-Wise

Large-cap mutual funds saw inflows of Rs 2,319.04 crore in September, down 18.20 per cent from Rs 2,834.88 crore in August. Mid-cap funds also saw a slight dip, with inflows easing 4.60 per cent MoM to Rs 5,085.40 crore as against Rs 5,330.62 crore in the previous month.

Small-cap funds recorded inflows of Rs 4,362.91 crore, lower than Rs 4,992.90 crore in August, a decline of 12.61 per cent. Flexi-cap funds remained mostly steady at Rs 7,029.26 crore as against Rs 7,679.40 crore in August.

However, the biggest drop came from sectoral and thematic funds, where inflows saw a sharp fall of 69 per cent MoM to Rs 1,220.89 crore from Rs 3,893.16 crore in August.

Debt Funds See Rs 1 Lakh Crore Outflows

Debt-oriented funds saw outflows in September to the tune of Rs 1.02 lakh crore, extending its outflow spree to second consecutive month. In August, the category saw Rs 7,979.84 crore outflows. In July, debt funds had recorded inflows of Rs 1.06 lakh crore.

Liquid funds saw an outflow of Rs 66,042.32 crore, as against Rs 13,350.06 crore outflow in August. Money market fund saw an outflows of Rs 17,899.90 crore as against Rs 2,210.53 crore inflow in the previous month.

Following these, ultra-short duration funds also saw outflows of Rs 13,605.66 crore, as against Rs 373 crore inflows in August.

Gold ETF Inflows Jump Nearly 4 Times MoM

Inflows into Gold exchange-traded funds (ETFs) increased nearly four times to Rs 8,363.13 crore in September from Rs 2,189.51 crore in August. This represents a growth of 282 per cent MoM.

This comes amid a record rally in gold prices. Gold prices, according to GoldPrice.org, has rallied over 57 per cent over the past one year amid continued geopolitical unrest in the West Asia, Russia-Ukraine and uncertainties in global trade policies due to US President Donald Trump's tariff tactics.

Gold prices have also been well-supported by robust buying by central banks around the world, US Federal Reserve's decision to cut key interest rates by 25 basis points at its September meeting, and expectations of two more rate cuts by the American central bank by the end of this calendar year.

MF Industry Adds 30 Lakh New Folios

Total mutual fund folios rose to 25.19 crore from 24.89 crore in August, an addition of over 30 lakh new folios during the month. Meanwhile, retail mutual fund folios under equity, hybrid, and solution-oriented schemes increased to 19.80 crore in the month, up from 19.64 crore in August. The total retail AUM across these categories stood at Rs 44.61 lakh crore, up from Rs 43.75 lakh crore in the previous month.

“The addition of over 30 lakh new folios, taking the total to beyond 25 crore, underscores the widening reach and trust in mutual funds as a key vehicle for wealth creation. As an industry, we remain focused on deepening investor awareness and strengthening participation across India’s diverse investor base,” added Chalasani.