Equity Fund Inflows Slump 40% To Rs 22,908 Crore In May, Lowest In 2026

Actively managed equity mutual funds recorded net inflows of Rs 22,907.77 crore in May, as per monthly data released by the Association of Mutual Funds in India on Wednesday. The figure was the lowest monthly equity inflow recorded so far in 2026, and marked a sharp pullback of 40.4% from Rs 38,440.20 crore in April. January through April had seen inflows range between Rs 24,028 crore and Rs 40,450 crore.

Large-cap funds saw inflows of Rs 1,592.93 crore, a decline of 36.9% against Rs 2,524.61 crore in April. Mid-cap funds recorded 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.

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.

May equity flow at a glance
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SIP Contribution

SIP contribution for May stood at Rs 30,954 crore, a marginal dip of 0.5% from Rs 31,115 crore in April. The figure marked the fourth consecutive month in which SIP inflows held above or close to the Rs 31,000 crore mark, sustaining the structural uptrend even as lump-sum equity flows moderated sharply.

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SIP inflow in May dipped slightly versus April 2026
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Debt Funds

Debt funds recorded a net outflow of Rs 96,948.51 crore in May, compared with a net inflow of Rs 2.47 lakh crore in April, as institutional treasury flows reversed following the financial year-start surge.

Hybrid and Passive Funds

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 swung to a net outflow of Rs 725.04 crore in May, reversing inflows of Rs 3,040.31 crore in April.

New Fund Offerings

Thirteen new fund offerings were launched in May, mobilising Rs 471 crore, against 11 launches raising Rs 828 crore in April.

Overall

Overall industry net flows stood at 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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