AMFI

monthly
note
May 2025
Monthly mutual fund industry update

•
snapshot

In May, assets under management (AUM) of the domestic mutual fund industry crossed Rs
Industry

70 lakh crore, ending the month at Rs 72.20 lakh crore

• The industry witnessed net inflows of Rs 29,108 crore during the month, with ~65% flows
from the equity category

• AUM of equity funds rose 4.83% on-month to Rs 32.05 lakh crore, driven by positive flows
Equity
funds

and mark-to-market (MTM) gains

• Flexi caps witnessed inflows of Rs 3,841 crore, the highest in the equity category for the
third straight month

• Assets of income/debt-oriented schemes dipped a marginal 0.16% on-month to Rs 17.54

lakh crore
funds
Debt

• Within the debt category, corporate bond funds experienced the highest on-month growth
in AUM of 7.71%, accompanied by the largest inflows of Rs 11,983 crore, as investors
sought higher yields in a low-yield environment

• Hybrid fund assets grew 4.43% to Rs 9.55 lakh crore, driven by highest monthly net inflows
Hybrid
funds

for the category worth Rs 20,765 crore and MTM gains

• Arbitrage funds witnessed the highest inflows within the category, amounting to Rs 15,702
crore

• The category witnessed net inflows of Rs 5,525 crore during the month, marking the 55th
consecutive month of net inflows
Passive
funds

• Gold exchange-traded funds (ETFs) witnessed net inflows during the month, compared
with outflows in the previous two months, driven by geopolitical tensions, market volatility
and rate cut expectations

• May 2025 recorded the highest ever monthly SIP contribution, standing at Rs 26,688 crore
trend
SIP

• The number of contributing SIP accounts has increased to 8.56 crore in May 2025 from 8.38
crore in April 2025.

2
Industry snapshot
Mutual fund industry crosses Rs 70 lakh crore AUM milestone
The mutual fund industry crossed the Rs 70 lakh crore AUM milestone for the first time ever in May 2025, with total
assets rising to Rs 72.20 lakh crore, a 3.04% increase from Rs 69.99 lakh crore in April 2025. During the month, the
Nifty 50 TRI gained 1.92%, while the BSE 500 TRI rose 1.75%, contributing to the overall market gains.

Assets rise due to MTM gains and net inflows (Rs lakh crore)

80.0 72.2
70.0 0.3
12.2
60.0 0.5
9.6
50.0
40.0
32.1
30.0
20.0
10.0 17.5
0.0
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 May-25

Income/Debt Oriented Schemes Growth/Equity Oriented Schemes Hybrid Schemes

Solution Oriented Schemes Other Schemes Close-ended & interval schemes

Source: Association of Mutual Funds in India (AMFI), Crisil Intelligence

MTM gains key reason for asset growth during the month (Rs crore)

Monthly Change in AUM Monthly Net Inflows/Outflows

2,19,773

1,47,742

40,541
32,659
29,108 19,013 20,765
1,849 177 5,526

-2,870 -148 -465

-15,908
Total MF Income/Debt Growth/Equity Hybrid Schemes Solution Oriented Other Schemes Close-ended &
Oriented Schemes Oriented Schemes Schemes interval schemes

Source: AMFI, Crisil Intelligence

3
Domestic institutional investors (DIIs) provide strong support to equity markets (Rs crore)

FII - Equity Investment DII - Equity Investment

79,321
64,853 67,642

37,586
28,228
19,860
4,223

-3,973

-34,574

-78,027
Jan-25 Feb-25 Mar-25 Apr-25 May-25

Source: National Securities Depository Ltd (NSDL), Crisil Intelligence

Monthly AUM trend of mutual funds

1 year
Apr 2025 1 month Nov 2024 6 months May 2024 May 2022 3 years
Category May 2025 %
(1 month) % change (6 months) % change (1 year) (3 years) % change
change

Equity 32,05,375 30,57,633 4.8% 30,35,916 5.6% 25,39,778 26.2% 13,31,546 140.7%

Debt 17,54,346 17,57,216 -0.2% 16,85,673 4.1% 15,11,988 16.0% 13,22,274 32.7%

Hybrid 9,55,362 9,14,821 4.4% 8,77,141 8.9% 7,82,336 22.1% 4,82,757 97.9%

Others 12,24,244 11,91,585 2.7% 11,29,896 8.4% 9,83,756 24.4% 5,28,414 131.7%

Solution-
oriented 54,531 52,682 3.5% 52,712 3.5% 47,108 15.8% 28,898 88.7%
schemes

Closed-
ended and
25,752 25,901 -0.6% 26,764 -3.8% 26,195 -1.7% 28,121 -8.4%
interval
schemes

Total 72,19,611 69,99,838 3.1% 68,08,101 6.0% 58,91,160 22.5% 37,22,010 94.0%
Note: Assets represented by month-end AUM and in Rs crore; all percentage changes are absolute
Source: AMFI, Crisil Intelligence

Monthly flow trends of mutual funds (Rs crore)

Dec
Category May 2025 Apr 2025 Mar 2025 Feb 2025 Jan 2025 Nov 2024
2024
Equity 19,013 24,269 25,082 29,303 39,688 41,156 35,943
Debt -15,908 2,19,136 -202,663 -6,526 1,28,653 -127,153 12,916
Hybrid 20,765 14,248 -947 6,804 8,768 4,370 4,124
Others 5,526 20,229 14,149 10,249 10,255 784 7,061
Solution-oriented schemes 177 206 241 246 243 333 319
Closed-ended and interval schemes -465 -1,261 -297 -13 -55 155 -68
Total 29,108 2,76,827 -164,435 40,063 1,87,551 -80,355 60,295
Note: Cell colours signify the highest to lowest inflows in that period (green to red)
Source: AMFI, Crisil Intelligence

4
Folio count sees steady growth
Mutual funds added 20.18 lakh new folios in May 2025, taking the total folio count to 23.83 crore. The equity and
passive fund categories accounted for the majority (84.55%) of total additions. Equity mutual funds continued to
dominate with 16.61 crore folios (~69.69% of total folios). The others category, which includes passive funds, stood
at 4.25 crore folios, making up about 17.82% of total folios.

Monthly folio count trend

Category May 2025 Apr 2025 Mar 2025 Feb 2025 Jan 2025 Dec 2024

Equity 16,60,87,784 16,49,58,060 16,38,24,672 16,23,74,751 16,05,74,608 15,74,96,827

Debt 71,54,986 70,36,533 69,49,759 68,91,665 68,49,320 68,24,169

Hybrid 1,59,89,423 1,58,04,441 1,56,67,477 1,55,03,030 1,53,33,491 1,51,97,642

Others 4,24,74,185 4,18,97,969 4,14,72,421 4,09,23,090 3,98,62,263 3,89,19,288

Solution-oriented
60,96,272 60,84,581 60,72,801 60,61,236 60,48,562 60,32,125
schemes

Closed-ended
and interval 5,10,120 5,13,440 5,20,941 5,27,032 5,31,133 5,33,494
schemes

Total 23,83,12,770 23,62,95,024 23,45,08,071 23,22,80,804 22,91,99,377 22,50,03,545

Source: AMFI, Crisil Intelligence

5
Global overview
US debt funds — net outflow continues in April
During the first four months of 2025, US debt and equity funds saw net outflows, with investors withdrawing funds
amid growing recession fears and ongoing discussions around tariffs. In contrast, the Indian market witnessed a
surge in inflows in both equity and debt categories, driven by renewed optimism around India's macroeconomic
fundamentals. Furthermore, strong corporate earnings results boosted retail participation in the market, with
individual investors taking a more positive view of the Indian economy.

US MF flows* (January-April 2025)

-4,534 -4,220
$ billion

-22,215
Equity Debt Hybrid

*Does not include ETFs; based on the latest available data

Source: ICI, Crisil Intelligence

India MF flows (January-April 2025)

138,600

118,342
Rs crore

54,192

28,872

Equity Debt Hybrid Others

Note: “Others” includes solution-oriented schemes, other schemes, and closed-ended and interval schemes
Source: AMFI, Crisil Intelligence

6
Equity mutual funds
Equity AUM continues to rise
Equity AUM rose 4.83% to Rs 32.05 lakh crore in May 2025 from Rs 30.58 lakh crore in April, driven by MTM gains
from a sustained rally in equity markets for the third consecutive month, continued participation from retail and
domestic investors, and broad-based market strength.

Indian equities witnessed a broad-based rally in May 2025 driven by upbeat domestic sentiment and favourable
global trends.

Positive equity flows continue

50,000 40,000

40,000
Net flows (Rs crore)

30,000
30,000

Nifty 50 TRI
20,000

10,000
20,000
-

(10,000)

(20,000) 10,000
Jul-20

Jul-21

Jul-22

Jul-23

Jul-24
Jan-21
Sep-20
Nov-20

Sep-21
Mar-21

Nov-21
Jan-22

Sep-22
Mar-22

Nov-22
Jan-23

Sep-23
Mar-23

Nov-23
Jan-24

Sep-24

Jan-25
Mar-24

Nov-24

Mar-25
May-20

May-21

May-22

May-23

May-24

May-25

Net flows Nifty 50 TRI

Source: AMFI, Crisil Intelligence

Flexi-cap funds attracted the highest inflows within the equity category for the third consecutive month, garnering Rs
3,841 crore in May. Small-cap funds were a close second, recording inflows of Rs 3,214 crore and also witnessing
the highest on-month AUM growth of 9.39%.

May saw the launch of three equity new fund offers (NFOs), one in the multi-cap category and two in the
sectoral/thematic category, mobilising Rs 940 crore and Rs 1,792 crore, respectively.

7
Monthly AUM trend of growth/equity-oriented schemes

1
1 year 3 years
Apr 2025 month Nov 2024 6 months May 2024 May 2022
Category May 2025 % %
(1 month) % (6 months) % change (1 year) (3 years)
change change
change

Sectoral/thematic
4,92,404 4,70,339 4.7% 4,61,710 6.6% 3,37,280 46.0% 1,46,709 235.6%
funds

Flexi-cap funds 4,71,974 4,54,668 3.8% 4,35,433 8.4% 3,72,549 26.7% 2,18,724 115.8%

Mid-cap funds 4,08,093 3,83,084 6.5% 3,89,882 4.7% 3,28,183 24.3% 1,55,832 161.9%

Large-cap funds 3,83,667 3,74,520 2.4% 3,62,680 5.8% 3,23,156 18.7% 2,19,836 74.5%

Small-cap funds 3,36,005 3,07,168 9.4% 3,26,391 2.9% 2,70,581 24.2% 1,04,739 220.8%

Large- and mid-cap

2,87,392 2,73,258 5.2% 2,68,226 7.1% 2,23,990 28.3% 1,08,776 164.2%
funds

ELSS funds 2,46,293 2,39,051 3.0% 2,44,083 0.9% 2,23,727 10.1% 1,40,800 74.9%

Value funds/contra
1,96,339 1,90,857 2.9% 1,89,471 3.6% 1,60,639 22.2% 77,908 152.0%
funds

Multi-cap funds 1,95,160 1,83,133 6.6% 1,78,513 9.3% 1,39,034 40.4% 54,714 256.7%

Focused funds 1,55,870 1,50,223 3.8% 1,47,480 5.7% 1,34,589 15.8% 93,943 65.9%

Dividend yield
32,177 31,333 2.7% 32,047 0.4% 26,050 23.5% 9,565 236.4%
funds

Total 32,05,375 30,57,633 4.8% 30,35,916 5.6% 25,39,778 26.2% 13,31,546 140.7%
Note: Assets represented by month-end AUM and in Rs crore; all percentage changes are absolute
Source: AMFI, Crisil Intelligence

Monthly flow trend of growth/equity-oriented schemes (Rs crore)

Category May 2025 Apr 2025 Mar 2025 Feb 2025 Jan 2025 Dec 2024 Nov 2024

Sectoral/thematic funds 2,052 2,001 170 5,712 9,017 15,332 7,658

Flexi-cap funds 3,841 5,542 5,615 5,104 5,698 4,731 5,084

Mid-cap funds 2,809 3,314 3,439 3,407 5,148 5,093 4,883

Large-cap funds 1,250 2,671 2,479 2,866 3,063 2,011 2,548

Small-cap funds 3,214 4,000 4,092 3,722 5,721 4,668 4,112

Large- and mid-cap funds 2,691 2,552 2,718 2,656 4,123 3,812 4,680

ELSS funds -678 -372 735 615 797 188 619

Value funds/contra funds -92 1,073 1,553 1,347 1,556 1,514 2,088

Multi-cap funds 2,999 2,552 2,753 2,518 3,567 3,075 3,626

Focused funds 947 885 1,386 1,288 783 456 430

Dividend yield funds -21 51 141 69 215 277 216

Total 19,013 24,269 25,082 29,303 39,688 41,156 35,943

Note: Cell colours signify the highest to lowest inflows in that period (green to red)
Source: AMFI, Crisil Intelligence

8
Debt mutual funds
AUM of debt mutual funds dip
AUM of open-ended debt funds dipped 0.16% in May to Rs 17.54 lakh crore from Rs 17.57 lakh crore in April 2025.
The monthly net outflow in debt funds of Rs 15,908 crore reversed April’s net inflow of Rs 2.19 lakh crore.

Debt mutual funds witnessed MTM gains in May amid surplus liquidity, relatively tame inflation and easier central
bank policies that kept government bond yields low, contrary to global trends. The yield on the 10-year benchmark
06.79% government security 2034 ended at 6.27% on May 30, compared with 6.36% on April 30.

Despite some profit-booking at the beginning of May, RBI’s announcement of its debt purchase plan for the month
spurred optimism. As the month progressed, surplus liquidity conditions and softer-than-expected inflation data raised
expectations of a dovish outlook by the central bank, thereby keeping bond prices high. Bond yields also declined
following stronger-than-expected economic growth data for the fourth quarter of fiscal 2025.

A sharp fall in global crude prices led to some gains. Further gains were capped by dampened foreign investor
sentiment because of India’s recent border skirmish and rising US yields.

Money market funds attracted an inflow of Rs 11,223 crore, while liquid funds and overnight funds experienced
outflows of Rs 40,223 crore and Rs 8,120 crore, respectively. This can be attributed to relatively higher yields offered
by money market funds.

Within the category, corporate bond funds witnessed the highest on-month growth in AUM at 7.71% and inflows at
Rs 11,983 crore, driven by investors’ willingness to take on more credit risk in pursuit of higher yields in a low-yield
environment.

Monthly AUM trend of income-/ debt-oriented schemes

1-month 6-month 1-year

Apr 2025 Nov 2024 May 2024 May 2022 3-year %
Category May 2025 % % %
(1 month) (6 months) (1 year) (3 years) change
change change change

Liquid funds 5,22,715 5,59,824 -6.6% 5,28,551 -1.1% 4,97,847 5.0% 3,78,744 38.0%

Money market funds 2,79,476 2,66,390 4.9% 2,54,671 9.7% 1,93,418 44.5% 1,16,260 140.4%

Corporate bond funds 1,95,987 1,81,954 7.7% 1,71,213 14.5% 1,53,043 28.1% 1,24,500 57.4%

Short-duration funds 1,22,760 1,19,709 2.5% 1,15,277 6.5% 1,02,659 19.6% 1,02,557 19.7%

Low-duration funds 1,27,553 1,23,442 3.3% 1,17,895 8.2% 99,595 28.1% 1,07,763 18.4%

Ultra-short-duration funds 1,29,110 1,26,437 2.1% 1,11,453 15.8% 97,438 32.5% 96,332 34.0%

Overnight funds 79,184 86,834 -8.8% 95,971 -17.5% 90,160 -12.2% 1,23,030 -35.6%

Banking and PSU funds 81,950 80,598 1.7% 78,221 4.8% 81,434 0.6% 88,745 -7.7%

Floater funds 51,205 50,980 0.4% 52,616 -2.7% 53,210 -3.8% 76,833 -33.4%

Gilt funds 43,000 41,429 3.8% 41,695 3.1% 32,706 31.5% 15,109 184.6%

Dynamic bond funds 37,088 36,231 2.4% 35,547 4.3% 32,689 13.5% 22,342 66.0%

Medium-duration funds 25,366 25,164 0.8% 25,541 -0.7% 25,295 0.3% 30,036 -15.6%

9
 1-month 6-month 1-year
Apr 2025 Nov 2024 May 2024 May 2022 3-year %
Category May 2025 % % %
(1 month) (6 months) (1 year) (3 years) change
change change change

Credit risk funds 20,437 20,485 -0.2% 21,006 -2.7% 22,501 -9.2% 26,589 -23.1%

Long-duration funds 21,415 20,874 2.6% 19,444 10.1% 13,983 53.2% 2,466 768.3%

Medium- to long-duration
11,999 11,859 1.2% 11,486 4.5% 10,698 12.2% 9,259 29.6%
funds

Gilt funds with 10-year

5,101 5,007 1.9% 5,087 0.3% 5,311 -4.0% 1,709 198.5%
constant duration

Total 17,54,346 17,57,216 -0.2% 16,85,673 4.1% 15,11,988 16.0% 13,22,274 32.7%
Assets represented by month-end AUM and in Rs crore; all percentage changes are absolute
Source: AMFI, Crisil Intelligence

Monthly flow trend of income-/debt-oriented schemes (Rs crore)

Category May 2025 Apr 2025 Mar 2025 Feb 2025 Jan 2025 Dec 2024 Nov 2024
Liquid funds -40,205 1,18,656 -133,034 4,977 91,593 -66,532 -1,779
Money market funds 11,223 31,507 -21,301 -3,276 21,916 -25,843 2,426
Corporate bond funds 11,983 3,458 -414 1,065 -217 -820 2,138
Short-duration funds 1,790 4,763 -1,176 729 -2,066 -2,581 -454
Ultra-short-duration funds 1,848 26,734 -9,647 -4,281 1,048 -2,410 2,962
Low-duration funds 3,134 9,371 -1,384 -2,825 665 -4,311 4,374
Overnight funds -8,120 23,900 -30,016 -2,264 18,937 -22,348 2,019
Banking and PSU funds 484 636 -1,579 474 -114 -339 -259
Floater funds -254 570 -1,180 -343 -1,129 -1,483 -342
Gilt funds 1,386 -425 -759 -278 -1,360 343 1,803
Dynamic bond funds 567 -10 -373 -108 -115 -450 314
Medium-duration funds -47 134 -572 -178 -220 -576 -201
Credit risk funds -248 -302 -294 -198 -294 -356 -196
Long-duration funds 466 82 -518 -163 201 680 80
Medium- to long-duration
44 100 -315 56 -169 152 -243
funds
Gilt funds with 10-year
42 -39 -101 88 -23 -279 275
constant duration
Total -15,908 2,19,136 -202,663 -6,526 1,28,653 -127,153 12,916
Green to red cells signify the highest to lowest inflows in that period
Source: AMFI, Crisil Intelligence

10
Hybrid mutual funds
Hybrid fund assets breach highs, driven by highest ever monthly inflows
In May, hybrid fund assets grew 4.43%, reaching Rs 9.55 lakh crore from Rs 9.15 lakh crore in April. The growth was
driven by MTM gains and the highest ever inflows amounting to Rs 20,765.05 crore.

All hybrid funds witnessed net inflows, with arbitrage funds accounting for the largest share of Rs 15,701.97 crore,
owing to higher volatility in equity markets. In volatile markets, price differences are more frequent, which typically
create opportunities for attractive returns. The monthly average of India Volatility Index rose 7.14% on-month to 18.02
in May, marking its second consecutive increase. The uptick in volatility created a favourable environment for
arbitrage funds, consequently attracting significant investments.

The hybrid category saw NFO – multi-asset allocation fund mobilising Rs 859 crore in May 2025.

Monthly AUM trend of hybrid schemes

May
May Apr 2025 1-month Nov 2024 6-month May 2024 1-year % 3-year %
Category 2022 (3
2025 (1 month) % change (6 months) % change (1 year) change change
years)

Dynamic asset
allocation/
2,99,507 2,92,550 2.4% 2,85,762 4.8% 2,60,653 14.9% 1,80,024 66.4%
balanced
advantage funds

Balanced hybrid
funds/ aggressive 2,31,901 2,26,008 2.6% 2,22,915 4.0% 2,03,887 13.7% 1,44,800 60.2%
hybrid funds

Arbitrage funds 2,33,963 2,13,014 9.8% 1,96,699 18.9% 1,80,603 29.5% 99,976 134.0%

Multi-asset
1,18,154 1,13,009 4.6% 1,01,688 16.2% 77,436 52.6% 19,727 498.9%
allocation funds

Equity savings
43,013 41,881 2.7% 41,435 3.8% 32,404 32.7% 17,081 151.8%
funds

Conservative
28,825 28,359 1.6% 28,642 0.6% 27,352 5.4% 21,149 36.3%
hybrid funds

Total 9,55,362 9,14,821 4.4% 8,77,141 8.9% 7,82,336 22.1% 4,82,757 97.9%
Assets represented by month-end AUM and in Rs crore
All percentage changes are absolute
Source: AMFI, Crisil Intelligence

11
Monthly flow trend of hybrid schemes (Rs crore)

May Apr Mar Feb Jan Dec Nov

Category
2025 2025 2025 2025 2025 2024 2024

Dynamic asset allocation/balanced advantage funds 1,136 881 776 664 1,512 1,596 1,570

Balanced hybrid funds/aggressive hybrid funds 341 -151 294 310 633 328 914

Arbitrage funds 15,702 11,790 -2,855 3,592 4,292 -409 -1,353

Multi-asset allocation funds 2,927 2,106 1,670 2,228 2,123 2,575 2,444

Equity savings funds 569 -142 -561 90 402 451 586

Conservative hybrid funds 89 -236 -271 -81 -194 -170 -37

Total 20,765 14,248 -947 6,804 8,768 4,370 4,124

Green to red cells signify the highest to lowest inflows in that period
Source: AMFI, Crisil Intelligence

12
Passive mutual funds
Passive fund assets touch record high, driven by sustained ETF inflows
Assets under passive funds grew 2.7% on-month, touching a record high of Rs 12.24 lakh crore in May. The upward
trend is largely attributed to the sustained investor interest in ETFs, which witnessed inflow of Rs 5,525.98 crore
during the month. This marks the 55th consecutive month of net inflows into ETFs.

In the passive fund category, other ETFs garnered the maximum inflows, amounting to Rs 4,087 crore, followed by
index funds, which attracted Rs 1,104 crore in May. Furthermore, gold ETFs witnessed inflows of Rs 292 crore,
reversing the outflow trend observed in the preceding two months.

Monthly AUM trend of passive schemes

1-
Apr 2025 (1 month Nov 2024 (6 6-month May 2024 (1 1-year % May 2022 3-year %
Category May 2025
month) % months) % change year) change (3 years) change
change

Other ETFs 8,33,966 8,13,121 2.6% 7,85,743 6.1% 6,97,325 19.6% 4,09,693 103.6%

Index funds 3,00,811 2,92,206 2.9% 2,73,175 10.1% 2,29,712 31.0% 78,047 285.4%

Gold ETFs 62,453 61,422 1.7% 44,245 41.2% 31,689 97.1% 20,262 208.2%

Fund of
funds
27,014 24,836 8.8% 26,732 1.1% 25,030 7.9% 20,412 32.3%
investing
overseas

Total 12,24,244 11,91,585 2.7% 11,29,896 8.4% 9,83,756 24.4% 5,28,414 131.7%
Source: AMFI, Crisil Intelligence; assets represented by month-end AUM and in Rs crore; all percentage changes are absolute

Monthly flow trend of passive schemes (Rs crore)

Category May 2025 Apr 2025 Mar 2025 Feb 2025 Jan 2025 Dec 2024 Nov 2024

Other ETFs 4,087 19,057 10,962 3,846 1,172 -4,558 1,531

Index funds 1,104 1,555 3,501 4,177 5,255 4,786 4,343

Gold ETFs 292 -6 -77 1,980 3,751 640 1,257

Fund of funds investing

43 -377 -237 246 78 -83 -69
overseas

Total 5,526 20,229 14,149 10,249 10,255 784 7,061

Source: AMFI, Crisil Intelligence; green to red cells signify the highest to lowest inflows in that period

13
SIP trend
SIP assets surpass previous month’s record
SIP assets witnessed a record-high contribution of Rs 26,688 crore in May, surpassing April’s Rs 26,632 crore. The
increase reiterates the growing preference for SIP as a primary mode of investment in mutual funds, reflecting
investor optimism and commitment to a disciplined investment approach. The number of SIP accounts also rose to
8.56 crore in May from 8.38 crore in April, with a registration of 59.15 lakh new accounts.

The stability of SIP assets as a percentage of the overall industry, ranging between 19.2% and 20.5% over the past
six months, highlights its consistent contribution to the industry's growth.

Record-high SIP contribution in May

30000
26,688

25000

20000

15000

10000

5000

0
Jul-22
Jul-20

Jul-21

Jul-23

Jul-24
May-20

Nov-20

May-21

Nov-21

May-22

Nov-22

May-23

Nov-23

May-24

Nov-24
Jan-25

May-25
Sep-20

Jan-21
Mar-21

Sep-21

Jan-22
Mar-22

Sep-22

Jan-23
Mar-23

Sep-23

Jan-24
Mar-24

Sep-24

Mar-25

SIP trend

Contribution May ’25 Apr ’25 Mar ’25 Feb ’25 Jan ’25 Dec ’24

No. of contributing SIP accounts (crore) 8.56 8.38 8.11 8.26 8.35 8.27

SIP monthly contribution (crore) 26,688 26,632 25,926 25,999 26,400 26,459

SIP assets (Rs lakh crore) 14.61 13.90 13.35 12.38 13.20 13.63

SIP assets as a percentage of industry assets 20.24 19.9 20.3 19.2 19.6 20.4
Source: AMFI, Crisil Intelligence

14
“
I'm pleased to announce that the Indian mutual fund industry has crossed Rs 70 lakh crore in AUM
reaching new highs, driven by resilient retail participation and consistent SIP inflows. The growth of SIP
is particularly encouraging, indicating a shift towards disciplined, long-term investment.

Monthly SIP contributions stood at a record ₹26,688 crore, with the number of contributing accounts rising
to an all-time high of 8.56 crores.

Equity inflows moderated to ₹19,013 crore this month, reflecting cautious investor sentiment amidst

behaviour among Indian investors. Notably, May also marked the industry’s 51st consecutive month of
positive equity inflows.
“
market volatility. Such phases often witness a natural reallocation towards hybrid and arbitrage schemes,
offering a more balanced approach during uncertain times. The trend highlights the maturing investment

At AMFI, we remain committed to strengthening investor education and fostering long-term financial well-
being. While short-term market movements may continue, India’s structural growth story remains intact,
and we encourage investors to stay focused on their long-term goals.

Venkat N Chalasani
Chief Executive – AMFI

Disclaimer
Mutual fund investments are subject to market risks; read all scheme-related documents carefully.

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