Equity MF inflows fall 40% on month in May, SIP flows hold above Rs 30k mark for fourth month

Actively managed equity mutual funds recorded net inflows of Rs 22,907.77 crore in May, according to monthly data released by the Association of Mutual Funds in India today. This was lowest monthly equity inflow recorded so far in 2026, and marked a slide of around 40% from Rs 38,440.20 crore in April. Large-cap funds saw inflows of Rs 1,592.93 crore, a drop of 36.9% against Rs 2,524.61 crore in April. Mid-cap funds inflow came in at Rs 4,385.06 crore, a fall of 33.1% versus Rs 6,551.40 crore. Small-cap funds received Rs 4,945.57 crore, down 28.2% compared with Rs 6,885.90 crore in April. AMFI data showed that Flexi-cap funds saw inflows of Rs 5,175.54 crore, down 49% against Rs 10,147.85 crore in April. Sectoral and thematic funds recorded Rs 647.87 crore, down 66.8% versus Rs 1,949.36 crore.

SIP flows for May stood at Rs 30,954 crore, a marginal dip of 0.5% from Rs 31,115 crore in April. However, this is the fourth consecutive month in which SIP inflows held above or close to the Rs 31,000 crore mark. Debt mutual funds saw a net outflow of Rs 96,948.51 crore in May, compared with a net inflow of Rs 2.47 lakh crore in April. Hybrid schemes recorded inflows of Rs 10,560.24 crore in May, against Rs 20,565.24 crore in April. Arbitrage funds received Rs 5,697.90 crore, compared with Rs 12,378.46 crore in April. Gold ETFs saw a net outflow of Rs 725.04 crore in May, reversing inflows of Rs 3,040.31 crore in April. Overall industry saw an outflow of Rs 64,021.17 crore in May, against a net inflow of Rs 3.22 lakh crore in April. Industry AUM as on 31 May 2026 stood at Rs 81.58 lakh crore.

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