In November 2025, mutual funds in India saw net equity inflows of ₹29,894 crore, marking a 21% increase from ₹24,671 crore in October, according to the latest data from the Association of Mutual Funds in India (AMFI). Total assets under management (AUM) rose to ₹80.80 lakh crore from ₹79.87 lakh crore in the previous month, reflecting continued investor interest in the market.
Among equity funds, large-cap funds attracted ₹1,640 crore in November, up from ₹972 crore in October, while mid-cap funds recorded inflows of ₹4,487 crore, compared with ₹3,807 crore the previous month. Small-cap funds also saw increased inflows, drawing ₹4,407 crore versus ₹3,476 crore in October.
Debt and other fund segments showed mixed trends. Corporate bond funds reported inflows of ₹1,525 crore, significantly lower than ₹5,122 crore in October.
New fund offers (NFOs) raised ₹3,126 crore, down from ₹6,062 crore in the previous month, while credit risk funds and ELSS funds experienced outflows of ₹118 crore and ₹570.2 crore, respectively.
In the ETFs, liquid, and thematic categories, gold ETFs saw inflows of ₹3,742 crore, almost half of the ₹7,743 crore recorded in October. Exchange-traded funds (ETFs) attracted ₹9,721 crore, up from ₹6,182 crore, while sectoral and thematic funds drew ₹1,865 crore, compared with ₹1,366 crore in October. Liquid funds continued to witness outflows, though at a much lower level of ₹14,050 crore versus ₹89,375 crore in October.
Dividend yield funds recorded outflows of ₹278 crore, slightly higher than ₹179 crore the previous month.
Commenting on the November flows, Suranjana Borthakur of Mirae Asset Investment Managers said equity numbers showed a “slight uptick” after months of tapering.
She noted that flows into sectoral funds “cooled off” despite new fund launches, and multi-asset schemes continued to attract investors due to their recent performance and commodity exposure.