AMFI Data: Equity mutual fund inflows slide 14% MoM to Rs 24,028 crore

Equity mutual fund inflows in the first month of the calendar year 2026 slipped 14% to Rs 24,028 crore, compared with Rs 28,054 crore in December 2025. On a year-on-year basis, inflows declined 39% from Rs 39,687 crore in January 2025.

Among the 11 sub-categories, flexicap funds continued to attract the most investor interest, recording the highest inflow of Rs 7,672 crore in January 2026. Midcap and large & mid-cap funds followed, with inflows of Rs 3,185 crore and Rs 3,181 crore, respectively.

Smallcap funds received inflows of Rs 2,942 crore, while ELSS funds saw outflows of Rs 593 crore during the period. On a month-on-month (MoM) basis, focused funds recorded a 47% rise in inflows, increasing from Rs 1,056 crore in December 2025 to Rs 1,556 crore in January 2026.

Largecap funds and sectoral/thematic funds saw a MoM jump of 28% and 10%, respectively, in inflows. In contrast, mid-cap and small-cap funds recorded declines of 24% and 23%, respectively, in monthly inflows.

Debt funds

Debt funds recorded inflows of Rs 74,827 crore in January 2026, reversing two consecutive months of outflows. In November and December 2025, the category had seen total outflows of Rs 1.58 lakh crore. On a year-on-year basis, inflows were down 42% compared with Rs 1.28 lakh crore recorded in the same period last year.

Among the 16 sub-categories, overnight funds received the highest inflow of Rs 46,280 crore, whereas corporate bond funds recorded Rs 11,472 crore worth of outflows.

Liquid funds and money market funds recorded inflows of Rs 30,681 crore and Rs 12,763 crore, respectively, in January.

Hybrid funds

Hybrid funds saw monthly inflows rise 61% to Rs 17,356 crore in January from Rs 10,755 crore in December. On a year-on-year basis, inflows jumped 98% from Rs 8,767 crore in January 2025.

Among the six sub-categories, multi-asset allocation funds attracted the highest inflow of Rs 10,485 crore, followed by arbitrage funds with Rs 3,293 crore. Arbitrage funds also recorded a sharp 2,507% month-on-month surge in inflows from Rs 126 crore in December 2025.

Meanwhile, equity savings funds and conservative hybrid funds dropped 81% and 35% MoM, respectively.

Other schemes
Other schemes, which include passive funds such as ETFs and index funds, saw a 50% jump in monthly inflows, rising to Rs 39,954 crore in January 2026 from Rs 26,723 crore in December 2025.

Gold ETFs attracted the highest inflows at Rs 24,039 crore in January, marking a 106% MoM surge. Other ETFs received inflows of Rs 15,005 crore during the month.

Fund-of-funds investing overseas recorded a sharp 501% increase in monthly inflows, rising to Rs 881 crore in January from Rs 146 crore in December.

Total inflows into open-ended schemes stood at Rs 1.56 lakh crore in January, compared with an outflow of Rs 66,532 crore in December. Total assets under management (AUM) rose 1% MoM to Rs 80.76 lakh crore in January from Rs 79.98 lakh crore in December.

New funds launched
In January, 12 new funds were launched, collectively garnering Rs 1,939 crore. Money market funds were the largest contributors, raising Rs 442 crore.