India’s mutual fund industry continued to witness robust growth in April 2025, with the total assets under management (AUM) reaching an all-time high of ₹70 lakh crore, up from ₹65.74 lakh crore in March, according to data released by AMFI.
Equity flows steady despite minor moderation
Net equity inflows stood at ₹24,253 crore, slightly lower than the previous month’s ₹25,017 crore, indicating continued retail participation. Within equities:
-
Large-cap funds drew in ₹2,671.46 crore vs ₹2,479.31 crore (MoM)
-
Mid-cap funds saw inflows of ₹3,313 crore vs ₹3,438.87 crore
-
Small-cap funds attracted ₹3,999.95 crore vs ₹4,092.12 crore
Debt categories see sharp rebound
After witnessing persistent outflows, debt-oriented schemes staged a comeback in April:
-
Liquid funds recorded ₹1.18 lakh crore inflow, reversing from a ₹1.33 lakh crore outflow in March
-
Corporate bond funds posted an inflow of ₹3,458.42 crore, a sharp turnaround from a ₹414 crore outflow
-
Credit risk funds continued to see redemptions, with an outflow of ₹301.7 crore vs ₹294.28 crore in the previous month
Other fund categories:
-
Dividend yield funds saw inflows drop sharply to ₹51.47 crore from ₹140.5 crore
-
Gold ETFs witnessed reduced outflows at ₹5.82 crore, compared to ₹77.21 crore in March
The inflows across key debt segments point to improving investor sentiment toward fixed-income assets amid expectations of a stable interest rate environment. On the equity side, while flows moderated marginally, the consistent net additions highlight strong underlying retail confidence.