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India Mutual Fund Flows Shift Toward ETFs and Gold as Equity Inflows Ease in September

AMFI data signal a risk-off turn that redirected cash from liquid debt into passives and gold.

Overview

  • Net equity mutual fund inflows fell 9% month-on-month to Rs 30,422 crore, marking a second straight monthly moderation.
  • Gold ETFs recorded Rs 8,363 crore of inflows, sharply higher than August, and other ETFs drew Rs 8,151 crore.
  • Debt schemes saw heavy withdrawals, led by liquid funds with Rs 66,042 crore of outflows and total debt outflows near Rs 1.01 lakh crore.
  • Hybrid fund inflows cooled to Rs 9,397 crore, NFO collections slipped to Rs 1,959 crore, and ELSS posted a Rs 308 crore outflow.
  • Despite shifting flows, total mutual fund industry AUM edged up to Rs 75.61 lakh crore in September.