Overall, the mutual fund industry recorded net inflows of ₹94,530 crore in February, lower than the ₹1.56 lakh crore reported in January.
Meanwhile, gold exchange-traded funds (ETFs) attracted inflows of ₹5,255 crore in February, compared with ₹24,040 crore in January and ₹11,647 crore in December.
Debt mutual funds also witnessed net inflows of ₹42,106 crore during the month, though this was lower than the ₹74,827 crore recorded in January.
Nitin Agrawal, CEO, Mutual Funds, InCred Money, said, “The standout takeaway from February’s AMFI data is the resilience of equity inflows despite ongoing market volatility. Categories like Flexi-cap, Mid-cap and Small-cap continued to attract meaningful allocations, a signal that investors are leaning into segments that have witnessed drawdowns and now offer relative value. Gold ETFs, which saw record inflows in January 2026, appear to have moderated, suggesting that some of that defensive positioning is unwinding and equity is regaining its appeal as the preferred vehicle for long-term wealth creation.”