Key trends from AMFI July 2026 data: Large-cap funds lose favour; small and midcaps attract investors

The large-cap mutual funds witnessed sharp outflows of ₹1321 crore as investors flocked to mid- and small-cap funds in the equity category in July 2026, according to the latest AMFI data.

Small-cap funds recorded net inflows of ₹7767.5 crore while mid-cap schemes posted net inflows of ₹6192 crore in July. The flexi-cap funds also recorded healthy net inflows of ₹4709.08 crore.

All mutual fund categories, including, debt, equity, hybrid and index funds, witnessed net inflows in July.

After two consecutive months of withdrawals, debt funds recorded a net inflow of₹1.87 lakh crore in July. In June and May, debt funds had recorded outflows of ₹1.09 lakh crore and ₹96,948 crore, respectively. Liquid funds saw most inflows, worth ₹1.19 lakh crore, in July in the debt category. In June, liquid funds had seen outflows of ₹42,293 crore.

The net inflows into equity mutual funds in July was lower at ₹24,697.39 crore, compared to ₹28,973 crore in June.

The inflows into hybrid schemes of ₹11,905 crore in July was also lower from June where these funds had recorded a net inflows of ₹12,892 crore.

Gold ETFs also saw lower inflows in July at ₹1558 crore, compared to ₹3443 crore in June.

The industry-wise net asset under management (AUM) increased to ₹85.75 lakh crore in July, compared to ₹82.22 lakh crore in June. In the equity category, the net AUM increased slightly to ₹38.36 lakh crore from ₹37.33 lakh crore from June.

Funds with net inflows

Apart from small-, mid-, and flexi-cap schemes, multi-cap, large & midcap, thematic, focused and other funds witnessed net inflows in July as follows:

Funds with net outflows

Dynamic asset allocation funds/balanced advantage funds: ₹252 crore

New launches

In July, three equity schemes were launched. While TrustMF large & Midcap Fund mobilised funds worth ₹281 crore, NJ Value Fund got ₹191 crore and NJ Momentum Fund mobised ₹296 crore.

The two new lifecycle funds launched by Zerodha Mutual Fund could mobilise only₹ 24 crore, ₹12 crore each.

In the index category, five new schemes mobilized ₹351 crore. Overall in July, new fund launches mobilised a total of ₹2022 crore.