AMFI April data: Equity mutual fund inflows dip 5% to Rs 38,440 crore

India’s mutual fund industry saw equity-oriented schemes attract net inflows of Rs 38,440 crore in April 2026, slightly lower than Rs 40,450 crore recorded in March, according to data released by the Association of Mutual Funds in India (AMFI).

The moderation comes after a sharp jump in March, when equity inflows had surged from Rs 25,978 crore in February.

Despite the marginal decline on a month-on-month basis, investor participation in equity schemes remained strong across Flexi Cap, Small Cap and Mid Cap categories.

The overall mutual fund industry recorded net inflows of Rs 3.22 lakh crore during April, sharply reversing the net outflow of Rs 2.39 lakh crore reported in March. Total assets under management (AUM) stood at Rs 81.92 lakh crore at the end of April 2026.

Flexi Cap funds lead equity inflows

Among equity categories, Flexi Cap Funds topped the inflow chart with net inflows of Rs 10,147.85 crore during April. The category’s AUM rose to Rs 5.59 lakh crore.

Small Cap Funds remained among the most preferred retail categories and received net inflows of Rs 6,885.90 crore. The category also recorded a 10 per cent rise in inflows compared to Rs 6,263 crore in March.

Mid Cap Funds attracted Rs 6,551.40 crore during the month, up around 8 per cent from Rs 6,063 crore in March.
Large & Mid Cap Funds saw inflows of Rs 4,490.49 crore, while Multi Cap Funds received Rs 3,806.01 crore. Large Cap Funds recorded net inflows of Rs 2,524.61 crore.

Sectoral and thematic funds received Rs 1,949.36 crore.

However, ELSS schemes continued to witness outflows and reported net redemptions of Rs 567.73 crore during the month. Dividend Yield Funds also saw marginal outflows of Rs 20.58 crore.

Debt funds see sharp recovery

Debt-oriented mutual funds staged a sharp turnaround in April after witnessing heavy outflows in March.

Debt funds recorded net inflows of Rs 2.47 lakh crore during April, compared with net outflows of Rs 2.94 lakh crore in March. The reversal was largely driven by institutional allocations into liquid categories after year-end adjustments.

Among debt categories, Liquid Funds received the highest inflows at Rs 1.65 lakh crore. Long Duration Funds saw outflows of Rs 727.19 crore, while Dynamic Bond Funds witnessed outflows of Rs 704.60 crore.

Gilt Funds with 10-year constant duration recorded outflows of Rs 149.27 crore.

Hybrid funds return to positive territory

Hybrid mutual funds recorded net inflows of Rs 20,565.24 crore in April, compared with net outflows of Rs 16,538 crore in March.
Among the six hybrid categories, Arbitrage Funds led inflows with Rs 12,378.46 crore during the month.

Multi Asset Allocation Funds attracted Rs 5,113.30 crore, while Dynamic Asset Allocation or Balanced Advantage Funds received Rs 1,773.07 crore.

Balanced Hybrid and Aggressive Hybrid Funds saw inflows of Rs 1,488.64 crore.

Conservative Hybrid Funds saw outflows of Rs 106.24 crore and Equity Savings Funds saw outflows of Rs 81.99 crore.

ETFs continue to attract investors

Exchange-traded funds (ETFs) continued to remain a major contributor to mutual fund flows in April.
Other ETFs recorded net inflows of Rs 10,754.86 crore during the month. Index Funds received Rs 4,625.85 crore, while Gold ETFs attracted Rs 3,040.31 crore.

Fund of Funds investing overseas also remained in positive territory with inflows of Rs 1,660.97 crore.

Mutual fund AUM crosses Rs 81 lakh crore

The mutual fund industry’s total AUM stood at Rs 81.92 lakh crore in April 2026, compared with average monthly AUM of Rs 81.94 lakh crore.

Open-ended schemes accounted for the bulk of industry assets with AUM of Rs 81.71 lakh crore.

The industry had a total of 27.53 crore folios across schemes at the end of April, reflecting continued retail participation in mutual fund investments.