Equity fund inflows rebound in Nov after four-month slowdown

Summary: Equity mutual fund inflows picked up in November after four months of moderation, rising to Rs 29,911 crore. SIP momentum remained steady and hybrid funds continued to attract stable allocations, while gold ETF inflows softened.

Mutual fund inflows improved in November 2025, with equity schemes recording a meaningful rebound after four consecutive months of moderation. The upturn in flows came alongside steady participation in hybrid schemes, which continued to attract investors through multi-asset and arbitrage strategies.

According to data from the Association of Mutual Funds in India (AMFI), equity-oriented funds saw net inflows of Rs 29,911 crore in November, up from Rs 24,690 crore in October. This increase breaks the slowdown seen since July and extends the positive equity flow streak to 57 months, highlighting the continued consistency of retail inflows into equity funds.

Despite renewed enthusiasm, market performance during the month remained mixed, with the BSE Sensex up 2 per cent, the BSE Midcap index edging up 0.4 per cent, while the BSE Smallcap index declined 3.4 per cent, reflecting uneven sentiment across segments.

Within equities, flexi-cap funds saw the highest inflows of Rs 8,135 crore in November, followed by large & mid-cap funds (Rs 4,503 crore) and mid-cap funds (Rs 4,487 crore), indicating that investors continue to seek growth opportunities beyond large caps. Small-cap funds also posted healthy inflows of Rs 4,406 crore.

SIP inflows

The systematic investment plans (SIPs) inflows stood at Rs 29,445 crore in November, a marginal decline from Rs 29,529 crore in October. According to Venkat N Chalasani, Chief Executive of AMFI, the dip occurred solely because November 29 and 30 fell on a weekend, shifting debits to December 1. “This is not a behavioural change, and underlying investor commitment through SIPs remains intact.”

In the commodity segment, precious metals showed a contrasting trend. Gold ETFs saw slower inflows at Rs 3,741 crore, compared to Rs 7,743 crore seen in October, suggesting some profit-booking after several strong months, while silver ETFs saw inflows of Rs 2,154 crore in November, taking their total assets to around Rs 49,000 crore.

Meanwhile, debt funds recorded net outflows of Rs 25,693 crore, led by liquid and overnight categories.

Specialized Investment Funds (SIF) assets increased to Rs 2,932 crore in November, compared to Rs 2,010 crore last month.

Also read: Inflows into equity funds drop in Oct even as markets rally