Net Equity Inflows Surge to ₹29,911 Crore in November, Up 21% MoM

Equity mutual funds experienced a significant resurgence in November, attracting net inflows of ₹29,911 crore. This represents a 21% increase compared to the ₹24,690.33 crore inflow recorded in October, according to the latest data released by the Association of Mutual Funds in India (AMFI). The rise in inflows signals a notable improvement in investor sentiment after three consecutive months of decline.

The positive momentum in equity flows also boosted the broader industry's asset base, with total assets under management (AUM) rising to ₹80.80 lakh crore, a jump from ₹79.87 lakh crore in October.

Category Performance

Across the board, inflows saw a steep rise compared to October, with flexicap funds leading the way. Most sub-categories experienced positive traction, with the exception of dividend yield and ELSS funds.

• Flexi-cap funds: Remained a popular choice, recording the highest inflows at ₹8,135 crore, although this was a 9% dip from October's ₹8,929 crore.
• Large and mid-cap funds: The second-most preferred category, with inflows rising sharply to ₹4,503 crore, up 42% from the previous month.
• Mid-cap funds: Attracted ₹4,486 crore.
• Small-cap funds: Attracted ₹4,406 crore in November.
• Value and contra funds: Saw the biggest jump in inflows on a monthly basis, rising 231% to ₹1,219 crore compared to ₹368 crore in October.
• Multi-cap funds: Witnessed a small 2% decline.

SIP Trends

Retail participation through Systematic Investment Plans (SIPs) showed a slight softening. SIP inflows edged down to ₹29,445 crore, compared with ₹29,631 crore in the previous month.

Debt and Gold ETFs

In contrast to the equity inflows, debt mutual funds saw an outflow of ₹25,692 crore in November, following a substantial inflow of ₹1.6 lakh crore in the preceding month. Gold Exchange-Traded Funds (ETFs) also witnessed a sharp slowdown, with net inflows falling to ₹3,742 crore.

Overall Mutual Fund Industry

Actively managed equity mutual funds recorded a ₹29,911.05 crore inflow during November, which is a 21% increase compared to October. Net inflow of the mutual fund industry stood at ₹29894 crore in November 2025.

Market Impact and Outlook

Mutual funds sharply increased their equity purchases in November, riding on steady investor inflows and improving market sentiment. MFs invested a net ₹43,465 crore in equities last month, more than double the ₹20,718 crore they invested in October. Fund houses were consistent buyers through almost the entire month, stepping back only on two days when they pulled out ₹2,473 crore.