Equity mutual fund inflows jump 26% to ₹28,973 crore in June: AMFI
Synopsis
Indian equity mutual funds pulled in ₹28,973 crore in June — a 26% monthly jump — even as geopolitical tensions rattled markets. Mid-cap and small-cap funds led the charge, and total industry AUM crossed ₹82 lakh crore, with folios nearing 28 crore. The data signals that retail investors are not just staying put — they are doubling down.
Key Takeaways
Equity mutual funds recorded net inflows of ₹28,973.41 crore in June 2025 , up 26.47% from May's ₹22,907.77 crore .
Mid-cap funds led all equity categories with net inflows of ₹6,090.17 crore .
Equity-oriented AUM stood at ₹37.34 lakh crore as of 30 June .
ELSS saw net outflows of ₹633.88 crore ; the broader industry posted a net outflow of ₹52,948.78 crore due to ₹1.09 lakh crore in debt-scheme redemptions.
Total mutual fund industry AUM reached ₹82.22 lakh crore ; folios rose to 27.86 crore .
Equity-oriented mutual funds logged net inflows of ₹28,973.41 crore in June 2025, a sharp 26.47% rise month-on-month, according to data released by the Association of Mutual Funds in India (AMFI) on Friday, 10 July. The figures point to sustained retail and institutional appetite for equities even as broader markets navigated volatility tied to geopolitical tensions.
How the Numbers Stack Up
The equity mutual fund category mobilised gross inflows of ₹67,600.90 crore during June. Redemptions stood at ₹38,627.49 crore, leaving a net inflow of ₹28,973.41 crore. This compares with a net inflow of ₹22,907.77 crore recorded in May, underscoring a meaningful acceleration in investor participation.
The assets under management (AUM) of equity-oriented schemes reached ₹37.34 lakh crore as of 30 June, reflecting both fresh inflows and market appreciation.
Which Schemes Led Inflows
Mid-cap funds topped the category with net inflows of ₹6,090.17 crore, followed by small-cap funds at ₹5,601.96 crore and flexi-cap funds at ₹5,231.31 crore. Large and mid-cap funds attracted ₹4,321.32 crore, while multi-cap funds drew ₹3,070.26 crore and large-cap funds received ₹2,067.48 crore.
Sectoral and thematic funds garnered ₹1,469.26 crore, and focused funds received ₹1,118.18 crore. Value and contra funds recorded net inflows of ₹686.79 crore.
Outflows: ELSS and Dividend Yield Funds
Not all equity categories saw positive flows. Equity Linked Savings Schemes (ELSS) recorded net outflows of ₹633.88 crore in June, while dividend yield funds saw a marginal net outflow of ₹49.44 crore. ELSS outflows are broadly seasonal, as tax-saving redemptions often pick up after the financial year closes.
Broader Industry Picture
Beyond equities, Gold ETFs attracted net inflows of ₹3,443.23 crore, while other ETFs received ₹13,237.76 crore. However, the mutual fund industry as a whole reported a net outflow of ₹52,948.78 crore in June, driven by net redemptions of ₹1.09 lakh crore from debt-oriented schemes — a pattern common at quarter-end as corporates redeem liquid and short-duration holdings to meet advance tax and other obligations.
The industry's total AUM stood at ₹82.22 lakh crore at the end of June, with the total number of mutual fund folios rising to 27.86 crore, signalling continued household-level participation in the capital markets.
What This Signals for Markets
The mid-cap and small-cap category dominance in June inflows is notable: investors are moving up the risk curve even as global uncertainty persists. Notably, this is the second consecutive month of accelerating equity inflows, suggesting that systematic investment plan (SIP) discipline and new lump-sum deployments are both contributing. The broad-based folio expansion to nearly 28 crore accounts indicates that mutual fund penetration beyond metro cities continues to deepen. How debt redemptions normalise in July will be the next signal to watch.
Point of View
But the category composition deserves scrutiny. Mid-cap and small-cap funds together absorbed over ₹11,600 crore — more than 40% of total net equity inflows — at a time when valuations in these segments remain stretched by historical standards. Retail investors chasing recent outperformance in smaller companies while geopolitical risks linger is a pattern that has preceded corrections before. The industry's headline AUM at ₹82 lakh crore masks the quarter-end debt redemption distortion; the real test of conviction will be whether July equity inflows hold without the SIP tailwind doing all the heavy lifting.
NationPress
10 Jul 2026
Frequently Asked Questions
How much did equity mutual fund inflows rise in June 2025?
Equity mutual fund net inflows rose 26.47% month-on-month to ₹28,973.41 crore in June 2025, up from ₹22,907.77 crore in May, according to AMFI data released on 10 July.
Which equity mutual fund category received the highest inflows in June?
Mid-cap funds led all equity categories with net inflows of ₹6,090.17 crore in June 2025, followed by small-cap funds at ₹5,601.96 crore and flexi-cap funds at ₹5,231.31 crore.
Why did the mutual fund industry report a net outflow in June despite strong equity inflows?
The overall mutual fund industry posted a net outflow of ₹52,948.78 crore in June, primarily because debt-oriented schemes saw net redemptions of ₹1.09 lakh crore. This is a seasonal pattern driven by corporate advance tax payments and quarter-end liquidity needs.
What is the total AUM of the mutual fund industry as of June 2025?
The mutual fund industry's total assets under management stood at ₹82.22 lakh crore at the end of June 2025, with the number of folios rising to 27.86 crore.
Did all equity mutual fund categories see positive inflows in June?
No. While most equity categories recorded positive inflows, ELSS saw net outflows of ₹633.88 crore and dividend yield funds posted a marginal net outflow of ₹49.44 crore during June 2025.
