AMFI Data March 2026: MFs buck trend with 56% jump; Gold and Silver ETF inflows plunge up to 57% - Check full data

AMFI Data March 2026: Equity mutual funds bucked the broader industry trend in March 2026, posting a sharp 56 per cent jump in inflows even as the overall mutual fund industry recorded net outflows, according to AMFI data.

Equity-oriented schemes saw net inflows of Rs 40,450.26 crore in March, compared with Rs 25,977.91 crore in February. This marks an increase of about 55.7 per cent month-on-month.

"Sustained retail participation, SIP flows, and year-end allocations supported the rise in equity inflows, with investors using market corrections to deploy capital," said Himanshu Srivastava, Principal Research, Morningstar Investment Research India.

He said the March inflows were among the highest in recent months and reflect continued investor interest in equities despite market volatility.

SIP contributions rise

SIP contributions increased to Rs 32,087 crore in March from Rs 29,845 crore in February, marking a rise of 7.5 per cent month-on-month. The increase indicates continued participation from retail investors through systematic investments.

Overall industry flows turn negative

The mutual fund industry reported a net outflow of around Rs 2.40 lakh crore in March 2026, compared with net inflows of Rs 94,530 crore in February, indicating a sharp reversal in flows. Total assets under management (AUM) declined to about Rs 73.73 lakh crore from Rs 82.03 lakh crore, a fall of around 10.1 per cent month-on-month.

Equity inflows strengthen across categories

Among equity categories, flexi cap funds led inflows at Rs 10,054.12 crore in March, up from Rs 6,924.65 crore in February.

Small-cap funds saw inflows of Rs 6,263.56 crore compared with Rs 3,881.06 crore, while mid-cap funds attracted Rs 6,063.53 crore, higher than Rs 4,002.99 crore in February.

Large and mid-cap funds recorded inflows of Rs 5,307.25 crore in March. Large-cap funds saw inflows of Rs 2,997.84 crore, compared with Rs 2,111.68 crore in February.

"Mid- and small-cap funds continued to attract strong flows, indicating investor confidence in growth potential despite volatility," Srivastava said.

Sectoral and thematic funds received Rs 2,698.82 crore, while focused funds saw inflows of Rs 2,424.59 crore.

ELSS was the only major equity category to report outflows at Rs 437.34 crore in March.

Debt funds see sharp reversal

Debt mutual funds recorded net outflows of Rs 2,94,987.18 crore in March, compared with net inflows of Rs 42,106.31 crore in February.

Liquid funds saw outflows of Rs 1,34,987.64 crore in March, against inflows of Rs 59,077.39 crore in February.

Overnight funds reported outflows of Rs 40,227.90 crore, wider than Rs 14,006.21 crore in February.

"Outflows were concentrated in short-term and liquidity-oriented categories, largely due to quarter-end institutional adjustments," said Nehal Meshram, Senior Analyst, Morningstar Investment Research India.

Money market funds saw outflows of Rs 29,206.98 crore compared with inflows of Rs 6,266.51 crore in February.

Hybrid funds turn negative

Hybrid schemes recorded a net outflow of Rs 16,538.47 crore in March, compared with inflows of Rs 11,983.37 crore in February.

Arbitrage funds saw outflows of Rs 21,113.70 crore, while equity savings funds reported outflows of Rs 1,131.18 crore.

However, multi-asset allocation funds saw inflows of Rs 5,212.73 crore, lower than Rs 8,476.26 crore in February. Aggressive hybrid funds reported inflows of Rs 994.53 crore compared with Rs 1,419.21 crore in the previous month.

Gold ETF inflows decline, other ETFs rise

Gold ETFs recorded net inflows of Rs 2,265.68 crore in March, sharply lower than Rs 5,254.95 crore in February, a decline of about 56.9 per cent.

"While inflows moderated, gold ETFs continued to see positive traction as a diversification tool amid market uncertainty," Meshram said. Other ETFs saw inflows rise to Rs 19,802.41 crore from Rs 4,487.15 crore in February. Index funds recorded inflows of Rs 8,168.76 crore in March.