Equity mutual fund inflows declined 6% in December, AMFI data shows

AMFI December Data: Equity mutual fund inflows declined in December 2025, indicating a slowdown in investor participation. According to AMFI data, net inflows into equity mutual funds fell by 6.21% to ₹28,054.06 crore in December, compared with ₹29,911.05 crore in November.

The mutual fund industry’s total assets under management (AUM) edged lower in December. Overall AUM declined by 1% to ₹79.98 lakh crore, compared with ₹80.55 lakh crore recorded in November.

Category-wise equity mutual fund inflows

Net inflows into large-cap funds decreased by 4.4% to ₹1,567.42 crore in December from ₹1,639.80 crore in November. Meanwhile, mid-cap and small-cap mutual funds continued to see steady interest, with inflows of ₹4,175.81 crore and ₹3,823.82 crore respectively.

Flexi-cap funds remained the top contributor among equity mutual fund categories in December. Net inflows into flexi-cap schemes rose 23.1% to ₹10,019.27 crore, compared with ₹8,135.01 crore in November.

Among equity-oriented mutual funds, ELSS and dividend yield funds were the only categories to record net outflows in December, at ₹717.73 crore and ₹254.32 crore respectively.

Gold ETFs

Gold ETFs saw a strong jump in investments in December. Net inflows rose more than three times to ₹11,646.74 crore, compared with ₹3,741.79 crore in November. The sharp rebound comes after net inflows into gold ETFs had declined 51.6% in November, following a steep 281.9% rise recorded in September.

Other exchange-traded funds also saw higher investments during the month. Inflows into these ETFs rose to ₹13,199.44 crore in December, up from ₹9,720.74 crore in November.

Debt funds

Debt-oriented mutual funds saw large redemptions during the month, led by liquid funds. Net outflows from liquid funds increased sharply to ₹47,307.95 crore in December, up from ₹14,050.72 crore in November.

Within the debt fund category, only overnight funds and floater funds reported net inflows in December, at ₹254.25 crore and ₹722.44 crore respectively.

New fund launches

The month of December saw 23 new fund launches garnering a total of ₹4,074 crore. These new funds include 5 equity funds, five index funds and 8 other ETFs. Additionally, one debt fund and two gold ETFs were also launched in December. Highest amount ( ₹2,468 crore) was raised by Abakkus Flexi Cap Fund.

SIPs in December

SIP investments hit a record high in December 2025, with total monthly contributions reaching ₹31,001.67 crore, the highest ever recorded. The number of contributing SIP accounts also rose to an all-time high of 9.79 crore during the month.

Venkat Chalasani, chief executive of AMFI, said, “As of December 2025, the Indian mutual fund industry’s AUM stood at ₹ 80.23 lakh crore. The moderation was primarily driven by debt fund outflows for liquidity management and limited market-related valuation changes. SIP monthly contributions have touched an all-time high of over ₹31,000 crore, taking SIP assets to ₹16.63 lakh crore. On a year-on-year basis, industry AUM grew by 19.9%, reflecting increased participation and continued adoption of mutual funds across investor segments.”

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