AMFI May Data: Equity mutual fund inflows decline for fifth straight month, down 22%; gold ETFs see inflows

While equity benchmark indices rose during the month, with NSE NIFTY 50 rising by 1.71% and S&P BSE SENSEX up by 1.51%, inflows into equity MFs declined by as much as 21.6% from ₹24,269.26 crore in April 2025.

Equity mutual fund inflows have been on a decline since January 2025. Net inflows into mutual funds over the last few months:

However, the total assets under management (AUM) of the MF industry hit another record high of ₹72 lakh crore in May, rising by 4.85% from ₹70 lakh crore in April 2025. The AUM stood at ₹66 lakh crore in March 2025.

Other key highlights

Gold ETFs recorded net inflows of ₹291.91 crore in May after seeing a net outflow of ₹5.82 crore during April. Other ETF inflows were at ₹4,086.81 crore, declining from a major inflow of ₹19,056.66 crore in April.

Large-cap funds saw an inflow of ₹1,250.47 crore in May, down from ₹2,671.46 crore in April. Small funds also saw a decline in inflows, attracting ₹3,214.21 during the month as compared to ₹3,999.95 crore in April.

Further, debt funds saw an outflow of ₹15,908.48 crore during the reporting month, after witnessing a major inflow of ₹2.2 lakh crore in April. Inflows into mid-cap funds reduced to ₹2,808 crore in May against ₹3,313 crore recorded in the previous month. Additionally, value funds and dividend yield funds saw an outflow of ₹92 crore and ₹21 crore, respectively.

Equity Linked Saving Schemes (ELSS) saw a net outflow of ₹678.11 crore in May after recording a net outflow of ₹372 crore in April.

Flexi Cap Funds witnessed the highest inflows during May, attracting ₹3,841.32 crore, after seeing a net inflow of ₹5,541.71 crore in April. Meanwhile, sectoral/thematic funds net inflows were at ₹2,052.48 crore in May, up from ₹2,000.95 crore in April.