SIPs hit record high, equity mutual fund inflows jump 31% in September: AMFI

Net inflows into equity mutual funds rose 31% from August to Rs 38,307 crore in September, the highest in five months, according to data released by the Association of Mutual Funds in India (AMFI) on Monday.

In Short

• Indian equity mutual funds saw net inflows of Rs 38,307 crore in September
• SIP investments hit a record Rs 32,490 crore
• Gold, silver ETFs and equity ETFs also saw strong inflows

Indian equity mutual funds continued to attract money in September, even as the stock market fell and foreign investors sold Indian shares. Regular investments by domestic investors, especially through systematic investment plans (SIPs), helped support the market amid the volatility.

Net inflows into equity mutual funds rose 31% from August to Rs 38,307 crore in September, the highest in five months, according to data released by the Association of Mutual Funds in India (AMFI) on Monday.

Equity mutual funds have now recorded net inflows for 67 consecutive months, marking a record streak. The trend shows how domestic investments are helping cushion Indian stocks against global uncertainty.

SMALL AND MID-CAP FUNDS ATTRACT RECORD INFLOWS

Small-cap and mid-cap mutual funds saw record inflows in September, with investments rising despite the market sell-off. Small-cap funds attracted Rs 9,039 crore, while mid-cap funds received Rs 7,845 crore, up 13% and 12%, respectively.

Flexi-cap funds also remained popular, attracting Rs 6,702 crore during the month.

Rohit Sarin, Co-Founder of Client Associates, said the inflows reflected continued investor confidence in equities, even as market volatility called for caution.

“The September AMFI data reflects continued investor confidence in equities, with equity mutual funds attracting net inflows of Rs 38,307 crore. Small-cap funds led with Rs 9,039 crore, followed by mid-cap funds at Rs 7,835 crore and flexi-cap funds at Rs 6,702 crore,” he said.

“This highlights sustained investor interest across market segments, even as market volatility calls for a measured approach to risk.”

SIP INVESTMENTS HIT RECORD HIGH

Investments through SIPs rose 0.6% from August to a record Rs 32,490 crore in September. SIPs allow investors to invest a fixed amount in mutual funds at regular intervals.

The steady flow of domestic money helped offset foreign portfolio investor outflows of $3.75 billion during the month.

Venkat Chalasani, Chief Executive of AMFI, said regular domestic investments, particularly through SIPs, continued to support the market despite rising inflationary pressures, higher crude oil prices and increasing US bond yields.

Prasenjit Paul, fund manager at 129 Wealth and research analyst at Paul Asset, said the steady flow of SIP investments reflected a structural change in the Indian market.

“The SIP money flow that we are noticing in the Indian market, that's a structural change and I do not think it will slow down anytime soon,” he said.

He added that a return of foreign institutional investors (FIIs), backed by domestic institutional investor (DII) support, could pave the way for a sustained bull run.

The Nifty 50 fell 6.1% in September and was down around 14.4% so far in 2026, underperforming global peers.

However, domestic mutual fund investments have helped limit losses in the broader market. The small-cap index has gained 9.6% this year, while the mid-cap index is down 2.7%.

The trend highlights the role of domestic investors in supporting the market even as foreign investors continue to sell Indian shares.

GOLD AND SILVER ETFs ALSO ATTRACT MONEY

Investors continued to put money into precious metals alongside equities. Inflows into gold exchange-traded funds (ETFs) surged 71% to Rs 4,451 crore in September, while silver ETFs attracted Rs 1,974 crore.

Equity ETFs also saw strong inflows of Rs 9,960 crore during the month.

Sarin said the investment trend highlighted the importance of diversification, with investors balancing equity exposure against the need to protect their portfolios from market volatility.

“Equity ETFs also saw strong inflows of Rs 9,960 crore, while gold and silver ETFs attracted Rs 4,451 crore and Rs 1,974 crore, respectively. This trend underlines the growing importance of diversification, with investors balancing participation in equity markets against the need for portfolio resilience,” he said.

While equity mutual funds continued to attract money, debt mutual funds recorded net outflows of Rs 1.83 lakh crore in September. The outflows were largely driven by liquid and money market funds.

Sarin said these movements pointed to liquidity-related changes and portfolio rebalancing.

“In this environment, investors should avoid reacting to short-term market movements and instead focus on disciplined asset allocation. A well-diversified portfolio, aligned with individual financial goals, investment horizons and risk appetite, remains essential for navigating changing market conditions,” he said.

- Ends