Inflows into equity mutual funds declined by 14.4 per cent on a month-on-month basis to Rs 25,082.01 crore in March, compared to Rs 29,303.34 crore in February, the latest data from the Association of Mutual Funds in India (AMFI) showed.
The inflows in equity schemes in March were lowest in 11 months. The decline in inflows was witnessed despite the Sensex and Nifty rising 5.76 per cent and 6.3 per cent, respectively in March.
During the reporting month, inflows through systematic investment plan (SIP) stood at Rs 25,926 crore compared to Rs 25,999 crore in February 2024. This was the third consecutive month of declining SIP inflows.
Net assets under management (AUM) of the mutual fund industry increased by 2 per cent to Rs 65.74 lakh crore in the reporting month compared to Rs 64.53 lakh crore in February. This increase was led by mark-to-market (MTM) gains in equity.
“The March 2025 AMFI data shows gross equity sales up by approximately Rs 2,100 crore though net flows down by 14 per cent to Rs 25,000 crore from Rs 29,300 crore mainly because of higher redemption in sectorial and thematic funds,” said Jatinder Pal Singh, CEO, ITI Mutual Fund.
Within equity mutual fund schemes, inflows into small cap funds rose 10 per cent to Rs 4,092.12 crore in March, compared to Rs 3,722.46 crore in February. Flows into mid cap funds was Rs 3,438.87 crore as against Rs 3,406.95 crore in the previous month.
Inflows into large cap funds dipped 13.49 per cent to Rs 2,479.31 crore compared to Rs 2,866 crore in February.
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Inflows into sectoral/thematic declined 97 per cent to Rs 170.09 crore in March from Rs 5,711.58 crore in the previous month. Flexi cap mutual funds witnessed inflows of Rs 5,615 crore, as against flows of Rs 5,104.22 crore last month.
Debt mutual fund schemes saw outflows of Rs 2.02 lakh crore in March as against outflows of Rs 6,525.56 crore in February. These outflows can be attributed to a higher redemption pressure from corporates to meet quarterly payments for advance tax. Liquid funds saw highest outflows of Rs 1.33 lakh crore in March, compared to inflows of Rs 4,976.97 crore in the previous month.
During the reporting month, outflows from the money market funds were Rs 21,301.14 crore and from overnight funds were Rs 30,015.8 crore.
Net outflows from the hybrid mutual fund schemes stood at Rs 946.56 crore in March compared to inflows of Rs 6,803.85 crore.
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The gold exchange traded fund (ETF) scheme saw outflows of Rs 77.21 crore, compared to inflows of Rs 1,979.84 crore. The decline in inflows in gold ETF was on account of profit booking after gold price surge to record level and also due to portfolio rebalancing.
In March 2025, monthly SIP contributions grew by 34.53 per cent year-on-year to Rs 25,926 crore. The SIP AUM stood at Rs 13.35 lakh crore for March.
The number of contributing SIP accounts stood at 8.11 crore as of March 2025 compared to 6.38 crores in April 2024.
Mutual Fund Net Inflows (+)/ Outflows (-) (Rs crore)
Schemes February March
Debt -6,525.56 -2,02,663.04
Equity 29,303.34 25,082.01
Hybrid 6,803.85 -946.56
Source : AMFI data