However, net inflows into equity-oriented schemes was down 11 per cent y-o-y in first half of FY26
The assets under management of the domestic mutual fund industry increased 19 per cent year-on-year (y-o-y) to ₹81 lakh crore as of November-end.
Out of the total AUM, ₹36 lakh crore were in equity schemes and ₹45 lakh crore in non-equity schemes.
Robust inflows through systematic investment plans continued recording a net contribution of ₹1 lakh crore, up 63 per cent (y-o-y) and the number of outstanding SIP accounts, which sharply fell in April, is also growing, said the RBI report.
The SIP AUM both as a share of the AUM of equity-oriented schemes and as a share of the total AUM of the domestic mutual fund industry has been increasing and currently stands at 54 per cent and 20 per cent as of November-end, underlining the steady demand for equities exposure among retail investors.
However, net inflows into equity-oriented schemes was down 11 per cent y-o-y in first half of FY26.
Among the schemes, the highest inflows were in small-cap funds, mid-cap funds and flexi-cap funds, while thematic funds saw moderating inflows compared to the previous period.
Cumulative net inflows into open-ended debt schemes rose 13 per cent during the same period, with money market and liquid funds recording the highest inflows.
Flows to passive funds also slowed down 7.9 per cent y-on-y in first half of FY26, even though their AUM remained steady at 17 per cent of the total MF AUM.
Inflows into ETFs and index funds were flat or declined, except for Gold ETFs, which surged 128 per cent year-on-year to a record $2.9 billion in 2025 and rising gold prices also increased demand for physical gold, which reached $20 billion in value
terms this year
In November, 18 open-ended debt schemes with total AUM of ₹1.68 lakh crore breached the AMFI or AMC prescribed threshold. However, all the MFs have either cured the breach or reported initiation of remedial action to complete the same within the prescribed timeframe.
Published on December 31, 2025