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Informist, Friday, Apr. 10, 2026

MUMBAI – The mutual fund industry recorded net outflows of INR 2.40 trillion in March, compared with INR 945.30 billion net inflows in February, data released by the Association of Mutual Funds in India Friday showed. This was due to sharp net outflows from debt and hybrid funds in March, the data showed.

The open-ended debt schemes reported net outflows of INR 2.95 trillion in March while these funds saw net inflows of INR 421.06 billion in February as all the debt schemes saw net outflows in March on the back of rising yields because of a spike in crude oil prices amid ongoing military conflict in the West Asia. Liquid funds saw the highest net outflows of INR 1.35 trillion under the debt schemes and overnight funds reported net outflows of INR 402.28 billion.

Total assets under management in the mutual fund industry were at INR 73.73 trillion in March, down over 10% on month. For open-ended debt funds, the AUM fell to INR 16.52 trillion as of Mar. 31 from INR 19.44 trillion at the end of the previous month. The assets under management for liquid funds were at INR 4.66 trillion as of Mar. 31, down from INR 5.99 trillion the previous month. Similarly, the assets under management for overnight funds were INR 73.02 billion as of Mar. 31, down from INR 1.13 trillion.

However, net flows into open-ended equity schemes rose to INR 404.50 billion in March from INR 259.78 billion in the previous month. Under open-ended equity schemes, flexi cap funds recorded highest inflows of INR 100.54 billion among other schemes in March. Net inflows into these funds rose from INR 69.25 billion in February. Inflows into large and mid-cap funds rose to INR 53.07 billion from INR 31.38 billion in February. 

Despite large inflows into equity funds, the total AUM of these funds fell due to mark-to-market losses. Open-ended equity schemes had AUM of INR 31.98 trillion as of Mar. 31, down from INR 35.39 trillion at the end of February. For open-ended large and mid-cap funds, AUM as of Mar. 31 were INR 2.99 trillion down from INR 3.32 trillion. The total AUM of flexi-cap funds as of Mar. 31 was INR 5.05 trillion, down from INR 5.53 trillion.  

In March, systematic investment plans saw inflows of INR 320.87 billion, up from INR 298.45 billion the previous month. Folios matured and discontinued in March were 5.34 million, Venkat Chalasani, chief executive of the association, said in a media interaction after the release of the data. The assets under management of SIPs as of Mar. 31 were down at INR 15.11 trillion from INR 16.64 trillion at the end of February, he said.

In March, net flows into gold ETFs were at INR 22.66 billion down from a record high of INR 52.55 billion in February. Meanwhile, silver ETFs recorded net outflows for the second consecutive month. Net outflows from these funds were INR 6.84 billion, down from INR 8.26 billion in February. The assets under management of gold ETFs fell over 6% on month to INR 1.71 trillion last month and those of silver ETFs fell over 13% on month to INR 798.06 billion as of Mar. 31.  End

Reported by J. Navya Sruthi and Kabir Sharma

Edited by Akul Nishant Akhoury

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