Mutual fund investors continued to pour money into equity schemes in October, though the pace of inflows has fallen compared to the previous month. According to data from the Association of Mutual Funds in India (AMFI), net equity inflows stood at Rs 24,690 crore in October, down 19 percent from Rs 30,422 crore in September.
The total Assets Under Management (AUM) of the mutual fund industry rose to Rs 79.87 lakh crore in October, up from Rs 75.61 lakh crore in September. The equity AUM stood at Rs 35.16 lakh crore, compared to Rs 33.7 lakh crore in the previous month.
AMFI’s October data also shows that gold ETF inflows stood at Rs 7,743 crore as against Rs 8,363 crore in September and Rs 2,190 crore in August.
Retail participation strengthened, with total mutual fund folios rising to 25.60 crore in October. A total of 18 schemes were launched in the month of October 2025, all open-ended and across categories, raising a total of Rs 6,062 crores in October 2025.
Equity Funds
Equity mutual fund inflows declined to Rs 24,690 crore in October 2025, down from Rs 30,422 crore in September, marking a 19% month-on-month drop, as per AMFI data. The slowdown was seen across most categories, with small-cap funds registering inflows of Rs 3,476 crore versus Rs 4,363 crore a month ago, while mid-cap funds saw a sharper dip to Rs 3,807 crore from Rs 5,085 crore.
Flexi-cap funds, however, bucked the trend with inflows rising to Rs 8,929 crore, up from Rs 7,029 crore, emerging as the top category for the month. Large-cap funds witnessed a steep decline to Rs 972 crore, while ELSS funds and dividend yield funds saw net outflows of Rs 666 crore and Rs 179 crore respectively. Overall, equity inflows remained positive, indicating sustained retail participation, though investors appeared more selective amid market volatility and valuations.
Debt Oriented Funds
Debt-oriented mutual funds witnessed a strong rebound in October 2025, recording net inflows of Rs 1.59 lakh crore, compared to an outflow of Rs 1.01 lakh crore in September.
The surge was primarily led by liquid funds, which saw inflows of Rs 89,375 crore, as corporates and institutions redeployed short-term surplus funds after the end of the quarter. Money market funds followed with inflows of Rs 17,916 crore, while ultra-short duration funds and overnight funds attracted Rs 15,067 crore and Rs 24,051 crore, respectively.
Most other categories, including corporate bond and low-duration funds, also saw positive flows. However, gilt, dynamic bond, and floater funds continued to witness minor outflows.
Gold Funds
Gold ETFs continued to attract strong investor interest in October 2025, recording net inflows of Rs 7,743 crore, slightly lower than Rs 8,363 crore in September.
This marks the seventh consecutive month of positive flows, reflecting sustained investor preference for gold amid global economic uncertainty and geopolitical tensions. Inflows into gold ETFs have risen sharply since April, when the category saw marginal outflows, supported by rising gold prices and its appeal as a safe-haven asset. The steady demand marks investors’ shift towards portfolio diversification and inflation hedging through gold-backed instruments.
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