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India Mutual Fund Flows Shift in September as Equity Inflows Ease, SIPs Hit Record

Record SIP contributions signal steady retail participation despite softer equity inflows.

Overview

  • Net equity inflows fell 9% month-on-month to Rs 30,422 crore, marking a second straight moderation after July’s peak.
  • SIP contributions reached a record Rs 29,361 crore, with 92.5 million accounts participating, according to AMFI.
  • Debt schemes saw net outflows of about Rs 1.01 lakh crore, led by Rs 66,042 crore withdrawn from liquid funds, with industry citing quarter-end and advance tax needs.
  • Passive vehicles attracted stronger interest, with index funds and ETFs taking in Rs 19,056 crore and gold ETFs drawing Rs 8,363 crore.
  • Total industry AUM edged up to about Rs 75.61 lakh crore, even as hybrid fund inflows slowed to Rs 9,397 crore and analysts described the equity moderation as cyclical.