New Delhi [India], : India's mutual fund industry witnessed a rebound in equity inflows in November 2025, supported by steady systematic investment plan contributions and a recovery in lump-sum investments, according to a sector update by Nuvama Research.
Monthly SIP inflows remained robust at ₹294 billion, broadly flat on a month-on-month basis, underlining continued retail participation despite market volatility, the report said.
A sharp revival in lump-sum investments which surged 274% month-on-month to ₹98.8 billion helped push active equity net inflows up by 22.2% from October to ₹393 billion during the month, it added.
Notably, in November,the Nifty 50 index rose 1.9%. This, the report said, contributed to a 1.5% month-on-month increase in active equity AUM to ₹44.4 trillion.
For the financial year so far, active equity net inflows stood at ₹2.9 trillion, representing about 8% of the industry's opening AUM, though still 12.9% lower year-on-year, it said.
Large- and mid-cap funds attracted the largest share of inflows at 27%, followed by flexi-cap funds at 20.7% and small-cap funds at 11.2%.
Thematic funds accounted for a relatively modest 4.7% of net inflows. Seven new active equity fund offers launched during the month mobilised ₹26.6 billion, while existing schemes saw inflows jump 32.2% month-on-month to ₹366.7 billion.
Passive funds, including exchange-traded funds and index funds, recorded net inflows of ₹154 billion in November, slightly lower than the previous month.
Gold ETFs and overseas fund-of-funds together attracted ₹39 billion. Arbitrage funds, however, saw net inflows decline sharply by nearly 40% month-on-month to ₹42 billion.
In the said period, the flows into debt-oriented schemes remained subdued, with net inflows of ₹144 billion, while liquid funds witnessed significant net outflows of ₹406 billion during the month, reflecting short-term treasury and institutional movements, the report said.
Nuvama Research said the recovery in equity markets, combined with the continued strength of SIP inflows, should support overall industry volume growth in the coming months.
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