The Indian mutual fund industry demonstrated continued resilience and growth in October 2025, with its Net Assets Under Management (AUM) soaring to an all-time high of ₹79,87,939.94 crore. This marks a significant jump from the previous month’s AUM of ₹75,61,309.29 crore. This record AUM was primarily driven by strong retail participation and the enduring success of Systematic Investment Plans (SIPs).
However, the month also witnessed a moderation in the pace of equity fund inflows. According to monthly data released by the Association of Mutual Funds in India (AMFI), equity mutual fund inflows fell by 19% month-over-month (MoM), declining to ₹24,671 crore compared to ₹30,405 crore in September. Despite this moderation, equity inflows remained robust, marking the 56th consecutive month of positive flows.
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Record SIPs and Diversification Trends
The foundation of the industry’s stability remains the retail investor’s commitment to disciplined investing. SIP inflows for October reached a new high of ₹29,529 crore, up from ₹29,361 crore in the previous month. The number of contributing SIP accounts also continued its upward trajectory, standing at 9,45,19,615 crore in October 2025. AMFI management noted that this continued strength “underscores the maturity and resilience of retail investors, who are staying disciplined with their long-term wealth creation goals despite short-term market fluctuations”.
Suranjana Borthakur, Head of Distribution & Strategic Alliances, Mirae Asset Investment Managers (India), offered a detailed analysis of the flows: “Equity inflows have moderated this month with a 19% month-on-month decline, while the total flows in the market have gone up driven by inflows in the debt categories primarily the liquid category.” She highlighted that within the equity space, the flexi-cap category continues to attract steady inflows, indicating investors’ preference for diversified strategies. Sectoral fund flows, which had seen a sharp rise earlier due to multiple New Fund Offers (NFOs), have now normalized, which she views as a “healthy sign as investors are becoming more measured and less return chasing”.
The data also reveals a sustained interest in diversification and safe-haven assets. The demand for gold and silver Exchange-Traded Funds (ETFs) remains healthy, with gold ETFs drawing around ₹7,000–8,000 crore over the past few months. This sustained inflow highlights investors’ desire to hedge against market volatility and utilize gold as a safe-haven asset, especially given the good returns in this category over the last year. Other ETFs have also seen good flows recently, suggesting increasing interest and participation in the passive investing space.
AMFI Chief Executive Venkat N Chalasani summarized the overall positive trend, saying, “The Mutual Fund industry has continued to demonstrate resilience and growth, with assets under management reaching new heights. The surge in inflows across various asset classes is a testament to the trust and confidence that investors have placed in us.” The sustained SIP growth, coupled with record AUM, strongly reflects growing financial maturity and trust in the mutual fund ecosystem.
