India • Household savings
India — Mutual Fund Flows & SIP Behaviour
Last update: 15 Oct 2026
Savers put ₹32,297 crore into mutual funds through SIPs in August 2026, up 14.3% on a year earlier. Active equity funds took in a net ₹38,307 crore in September 2026, ₹9,039 crore of it (24%) into small-cap funds.
Open-ended schemes managed ₹82.49 lakh crore at the end of September 2026, across 28.58 crore folios.
Part of the research India’s mutual fund industry, which sets these flows beside market returns, valuations, foreign selling and how funds did against their benchmarks.
- Scheme flowsSep 2026AMFI monthly report
- SIP contributionsAug 2026AMFI
- SIP accountsAug 2026AMFI
- Database loaded15 Oct 2026Exalytics
Active equity net inflow
VerifiedSmall-cap fund net inflow
VerifiedContributing SIP accounts
ProvisionalOpen-ended assets under management
VerifiedFeatured
Net flows by fund type
Money investors put into each fund type in the month minus the money they took out. A higher line means more new money arrived; it does not mean fund prices rose. Segment totals are not comparable across August 2026, when AMFI changed its categories.
For example: If investors put ₹40,000 crore into equity funds in a month and withdraw ₹28,000 crore, the equity net flow for that month is ₹12,000 crore.
₹ crore / lakh crore
- Active equity
- Passive equity (index + ETF)
- Hybrid
- Commodity ETF (gold + silver)
Sep 2026: share of the fund types highlighted on the left — Active equity 67%, Passive equity (index + ETF) 22%, Hybrid -1%, Commodity ETF (gold + silver) 11%. These add to 100%.
Flow composition
Net flow by fund type and category
Drill down
Composition of the month's net flow
Each bar is that row's share of the level above, so the parts are read against one total. Open a fund type to see its categories, largest first; open a category to see how much of its subscriptions arrived through SIPs and which new funds took money that month.
For example: If equity funds take ₹12,000 crore of a ₹20,000 crore industry net flow, the equity bar shows 60%; opening equity shows how that ₹12,000 crore splits across categories.
September 2026: each highlighted fund type as a share of their combined net flow. An outflow is money leaving, drawn in red to the left of centre. Shares on this level add to +100.0%.
By month
Net flow by month and fund type
The last 12 months, one shade per month, oldest lightest. MoM compares the latest month with the one before it. A larger dark block at the right means more of the year's flow arrived recently.
A larger recent block, the darker shade, is a bigger flow in that month. A block left of zero is money leaving. The figure on the right is that row's share of the total over the periods shown; MoM is the latest period against the one before it. The shares add to +100.0%.
1 · Systematic investment plans
SIP contributions, accounts and assets
Contributions
Monthly SIP contributions
Money paid in through systematic investment plans (SIPs), standing instructions that invest a fixed amount on a set date every month. The total covers all schemes, not only equity.
For example: An investor with a ₹5,000 monthly SIP adds ₹5,000 to this total in every month the instalment is paid.
₹ crore / lakh crore
- SIP contributions
Accounts
SIP accounts: contributing and registered
Contributing accounts actually paid an instalment that month; registered (outstanding) accounts are all active SIP instructions on the books. Neither line counts people.
For example: One person with SIPs in three funds counts as three accounts. If one instalment bounces, that account is registered but not contributing that month.
Accounts, crore
- Contributing accounts
- Registered (outstanding) accounts
Assets
Assets held through SIPs
The month-end value of investments made through SIPs. It rises with new contributions and with market prices, so a change in this line is not the same as new investment.
For example: If SIP assets are ₹15 lakh crore and markets rise 2% in a month with no new money, the line rises to about ₹15.3 lakh crore.
₹ crore / lakh crore
- SIP assets
Fiscal years
SIP contributions by fiscal year
April–March totals as AMFI publishes them. The latest year includes only the months published so far.
For example: Fiscal year 2025-26 covers April 2025 to March 2026.
₹ crore / lakh crore
- SIP contributions
2 · Allocation
Allocation across fund categories
Net flows
Selected fund types: net flows by category
The six categories with the largest flows in the window; the rest are grouped together. Each category's flow mixes SIP instalments and one-off lump-sum investments.
For example: A ₹3,000 crore net inflow into small-cap funds can come from SIP instalments, lump sums or both; this chart does not separate them.
₹ crore / lakh crore
- Hybrid · Arbitrage
- Passive equity (index + ETF) · Other ETFs
- Active equity · Sectoral / thematic
- Active equity · Flexi cap
- Active equity · Small cap
- Hybrid · Multi asset allocation
- All other categories
Equity by size
Net flows: large-, mid-, small- and flexi-cap funds
Net flows into the four main equity categories, which SEBI defines by the size of the companies a fund must hold. Flexi-cap funds can invest across all sizes.
For example: A large-cap fund must keep at least 80% of its money in the 100 largest listed companies; a small-cap fund must keep at least 65% in companies ranked 251st or lower.
₹ crore / lakh crore
- Small cap
- Mid cap
- Large cap
- Flexi cap
Folios
Selected fund types: folios by category
Investor accounts in each category at month end. A folio is an account in one scheme, so one investor can hold many.
For example: An investor holding two large-cap funds and one small-cap fund has three folios.
Folios, crore
- Active equity · Sectoral / thematic
- Active equity · Small cap
- Active equity · Mid cap
- Active equity · Flexi cap
- Passive equity (index + ETF) · Equity ETF
3 · Assets
Assets under management and redemption rates
Assets
Assets by segment
Month-end assets of the fund types highlighted on the left. Assets change with new money and with market prices. Segments are not comparable across August 2026, when AMFI split out silver, debt and overseas ETFs.
For example: If equity fund assets are ₹30 lakh crore and the market rises 5% with no new money, assets rise to about ₹31.5 lakh crore.
₹ crore / lakh crore
- Active equity
- Passive equity (index + ETF)
- Hybrid
- Commodity ETF (gold + silver)
Redemptions
Redemptions as a share of assets
Money withdrawn in the month divided by the segment's average assets: how quickly money is leaving. Switches between schemes count as redemptions too.
For example: ₹30,000 crore redeemed in a month from a segment with average assets of ₹30 lakh crore is a redemption rate of 1%.
% of the month's average assets
- Active equity
- Hybrid
- Passive equity
Monthly screens
Flow signals and risk appetite
Four monthly screens comparing redemptions, the scale of industry SIP collections against equity net flows, and demand across fund categories. Inspect a month to read them together.
Calculated across the full published snapshot. The dashboard's segment, window, frequency and date filters do not change these screens.
Active-equity redemption intensity
Line not crossedSep 2026
Watch line: ≥ 80 % of gross sales
Higher means a larger share of the money coming in is being taken back out.
Gross buying is comfortably ahead of redemptions. This measures flows, not prices.
Calculations & source rows
Formula: 100 × active-equity repurchases ÷ active-equity funds mobilised
At or above 80%: an Exalytics editorial watch level. A high ratio means gross repurchases are large relative to subscriptions. It measures fund flows, not prices, and says nothing about why investors redeemed. Methodology ↗
| Month | Reading | Assessment |
|---|---|---|
| Sep 2026 | 48.8 | Outside watch level |
| Aug 2026 | 60.2 | Outside watch level |
| Jul 2026 | 64.5 | Outside watch level |
| Jun 2026 | 57.1 | Outside watch level |
| May 2026 | 60.2 | Outside watch level |
| Apr 2026 | 45.3 | Outside watch level |
| Mar 2026 | 51.7 | Outside watch level |
| Feb 2026 | 58.2 | Outside watch level |
| Jan 2026 | 63.4 | Outside watch level |
| Dec 2025 | 59.3 | Outside watch level |
| Nov 2025 | 53.6 | Outside watch level |
| Oct 2025 | 61.2 | Outside watch level |
| Sep 2025 | 54.2 | Outside watch level |
| Aug 2025 | 45.2 | Outside watch level |
| Jul 2025 | 43.1 | Outside watch level |
| Jun 2025 | 58.6 | Outside watch level |
| May 2025 | 66.4 | Outside watch level |
| Apr 2025 | 57.2 | Outside watch level |
| Mar 2025 | 55.6 | Outside watch level |
| Feb 2025 | 46.2 | Outside watch level |
| Jan 2025 | 40.4 | Outside watch level |
| Dec 2024 | 42.9 | Outside watch level |
| Nov 2024 | 41.7 | Outside watch level |
| Oct 2024 | 43.9 | Outside watch level |
| Sep 2024 | 52.3 | Outside watch level |
| Aug 2024 | 47.3 | Outside watch level |
| Jul 2024 | 54.3 | Outside watch level |
| Jun 2024 | 50 | Outside watch level |
| May 2024 | 51.3 | Outside watch level |
| Apr 2024 | 65.8 | Outside watch level |
| Mar 2024 | 57.1 | Outside watch level |
| Feb 2024 | 54.4 | Outside watch level |
| Jan 2024 | 57.2 | Outside watch level |
| Dec 2023 | 66.5 | Outside watch level |
| Nov 2023 | 60 | Outside watch level |
| Oct 2023 | 54.4 | Outside watch level |
| Sep 2023 | 66.6 | Outside watch level |
| Aug 2023 | 54.8 | Outside watch level |
| Jul 2023 | 80 | Outside watch level |
| Jun 2023 | 77.3 | Outside watch level |
| May 2023 | 89.5 | Watch level reached |
| Apr 2023 | 74.5 | Outside watch level |
| Mar 2023 | 46.9 | Outside watch level |
| Feb 2023 | 51.7 | Outside watch level |
| Jan 2023 | 57.4 | Outside watch level |
| Dec 2022 | 75.5 | Outside watch level |
| Nov 2022 | 92 | Watch level reached |
| Oct 2022 | 63.2 | Outside watch level |
| Sep 2022 | 60.4 | Outside watch level |
| Aug 2022 | 78 | Outside watch level |
| Jul 2022 | 60.7 | Outside watch level |
| Jun 2022 | 43.7 | Outside watch level |
| May 2022 | 41.4 | Outside watch level |
| Apr 2022 | 51.3 | Outside watch level |
| Mar 2022 | 38.7 | Outside watch level |
| Feb 2022 | 41.7 | Outside watch level |
| Jan 2022 | 55.2 | Outside watch level |
| Dec 2021 | 41.4 | Outside watch level |
| Nov 2021 | 60.1 | Outside watch level |
| Oct 2021 | 81.8 | Watch level reached |
| Sep 2021 | 76.3 | Outside watch level |
| Aug 2021 | 74.3 | Outside watch level |
| Jul 2021 | 46.4 | Outside watch level |
| Jun 2021 | 77.7 | Outside watch level |
| May 2021 | 60.7 | Outside watch level |
| Apr 2021 | 84.4 | Watch level reached |
| Mar 2021 | 67.5 | Outside watch level |
| Feb 2021 | 121.7 | Watch level reached |
| Jan 2021 | 138.3 | Watch level reached |
| Dec 2020 | 138.9 | Watch level reached |
| Nov 2020 | 191 | Watch level reached |
| Oct 2020 | 115.6 | Watch level reached |
| Sep 2020 | 104.3 | Watch level reached |
| Aug 2020 | 127.5 | Watch level reached |
| Jul 2020 | 117.5 | Watch level reached |
| Jun 2020 | 98.3 | Watch level reached |
| May 2020 | 59.4 | Outside watch level |
| Apr 2020 | 57.2 | Outside watch level |
| Mar 2020 | 61.1 | Outside watch level |
| Feb 2020 | 56.4 | Outside watch level |
| Jan 2020 | 64.1 | Outside watch level |
| Dec 2019 | 77.5 | Outside watch level |
| Nov 2019 | 92.5 | Watch level reached |
| Oct 2019 | 64.7 | Outside watch level |
| Sep 2019 | 58.8 | Outside watch level |
| Aug 2019 | 45.9 | Outside watch level |
| Jul 2019 | 60.1 | Outside watch level |
| Jun 2019 | 58.3 | Outside watch level |
| May 2019 | 72.4 | Outside watch level |
| Apr 2019 | 73.6 | Outside watch level |
| Input | Value | Source |
|---|---|---|
| Active equity gross sales 01 Sep 2026 – 30 Sep 2026 Observation bd6c8e81-be7a-5aa5-aacd-faa8a4c84eb9 | 74832 | AMFI monthly report (MCR), open-ended schemes ↗VERIFIED |
| Active equity redemptions 01 Sep 2026 – 30 Sep 2026 Observation f1a45494-68ca-5d45-90ef-9527d6921342 | 36525.4 | AMFI monthly report (MCR), open-ended schemes ↗VERIFIED |
Industry SIP collections relative to equity net inflow
UnavailableSep 2026
Watch line: ≥ 100 % of equity net inflow
Higher means industry SIP collections are larger relative to equity net inflow; this is not equity SIP attribution.
Unavailable — missing input for this month
Calculations & source rows
Formula: 100 × industry SIP contribution ÷ (active-equity + passive-equity net inflow)
At or above 100%: SIP contributions alone equal or exceed the whole net inflow into equity schemes. This does not establish whether lump-sum investors were buyers or sellers. SIP money is not confined to equity schemes, so this is a scale comparison, not an accounting identity. Not applicable when equity schemes saw no net inflow. Methodology ↗
| Month | Reading | Assessment |
|---|---|---|
| Sep 2026 | — | Unavailable — missing input for this month |
| Aug 2026 | 82.9 | Outside watch level |
| Jul 2026 | 89.4 | Outside watch level |
| Jun 2026 | 75.4 | Outside watch level |
| May 2026 | 133.2 | Watch level reached |
| Apr 2026 | 57.8 | Outside watch level |
| Mar 2026 | 46.9 | Outside watch level |
| Feb 2026 | 88.6 | Outside watch level |
| Jan 2026 | 79.4 | Outside watch level |
| Dec 2025 | 72.1 | Outside watch level |
| Nov 2025 | 71.2 | Outside watch level |
| Oct 2025 | 90 | Outside watch level |
| Sep 2025 | 73.1 | Outside watch level |
| Aug 2025 | 67 | Outside watch level |
| Jul 2025 | 57.5 | Outside watch level |
| Jun 2025 | 107 | Watch level reached |
| May 2025 | 110.3 | Watch level reached |
| Apr 2025 | 59.3 | Outside watch level |
| Mar 2025 | 65.6 | Outside watch level |
| Feb 2025 | 69.7 | Outside watch level |
| Jan 2025 | 57.2 | Outside watch level |
| Dec 2024 | 63.9 | Outside watch level |
| Nov 2024 | 60.5 | Outside watch level |
| Oct 2024 | 40 | Outside watch level |
| Sep 2024 | 66.7 | Outside watch level |
| Aug 2024 | 45.7 | Outside watch level |
| Jul 2024 | 45.8 | Outside watch level |
| Jun 2024 | 38.8 | Outside watch level |
| May 2024 | 41.9 | Outside watch level |
| Apr 2024 | 65.3 | Outside watch level |
| Mar 2024 | 55 | Outside watch level |
| Feb 2024 | 53.5 | Outside watch level |
| Jan 2024 | 74.3 | Outside watch level |
| Dec 2023 | 98.4 | Outside watch level |
| Nov 2023 | 96.3 | Outside watch level |
| Oct 2023 | 63.1 | Outside watch level |
| Sep 2023 | 84.4 | Outside watch level |
| Aug 2023 | 65.6 | Outside watch level |
| Jul 2023 | 180.4 | Watch level reached |
| Jun 2023 | 132.3 | Watch level reached |
| May 2023 | 187.3 | Watch level reached |
| Apr 2023 | 102.3 | Watch level reached |
| Mar 2023 | 30.1 | Outside watch level |
| Feb 2023 | 62.3 | Outside watch level |
| Jan 2023 | 83.2 | Outside watch level |
| Dec 2022 | 59.5 | Outside watch level |
| Nov 2022 | 103.7 | Watch level reached |
| Oct 2022 | 67.5 | Outside watch level |
| Sep 2022 | 47.7 | Outside watch level |
| Aug 2022 | 59.5 | Outside watch level |
| Jul 2022 | 52.1 | Outside watch level |
| Jun 2022 | 43.6 | Outside watch level |
| May 2022 | 40.5 | Outside watch level |
| Apr 2022 | 38.7 | Outside watch level |
| Mar 2022 | 25.9 | Outside watch level |
| Feb 2022 | 31.6 | Outside watch level |
| Jan 2022 | 48.4 | Outside watch level |
| Dec 2021 | 26.2 | Outside watch level |
| Nov 2021 | 50.9 | Outside watch level |
| Oct 2021 | 74.3 | Outside watch level |
| Sep 2021 | 53.2 | Outside watch level |
| Aug 2021 | 51.8 | Outside watch level |
| Jul 2021 | 31.8 | Outside watch level |
| Jun 2021 | 85.7 | Outside watch level |
| May 2021 | 52.8 | Outside watch level |
| Apr 2021 | 120.4 | Watch level reached |
| Mar 2021 | — | Unavailable — missing input for this month |
| Feb 2021 | — | Not applicable — equity schemes saw no net inflow this month |
| Jan 2021 | — | Not applicable — equity schemes saw no net inflow this month |
| Dec 2020 | — | Not applicable — equity schemes saw no net inflow this month |
| Nov 2020 | — | Not applicable — equity schemes saw no net inflow this month |
| Oct 2020 | — | Not applicable — equity schemes saw no net inflow this month |
| Sep 2020 | — | Unavailable — missing input for this month |
| Aug 2020 | — | Not applicable — equity schemes saw no net inflow this month |
| Jul 2020 | — | Unavailable — missing input for this month |
| Jun 2020 | — | Unavailable — missing input for this month |
| May 2020 | — | Unavailable — missing input for this month |
| Apr 2020 | — | Unavailable — missing input for this month |
| Mar 2020 | — | Unavailable — missing input for this month |
| Feb 2020 | — | Unavailable — missing input for this month |
| Jan 2020 | — | Unavailable — missing input for this month |
| Dec 2019 | — | Unavailable — missing input for this month |
| Nov 2019 | — | Unavailable — missing input for this month |
| Oct 2019 | — | Unavailable — missing input for this month |
| Sep 2019 | — | Unavailable — missing input for this month |
| Aug 2019 | — | Unavailable — missing input for this month |
| Jul 2019 | — | Unavailable — missing input for this month |
| Jun 2019 | — | Unavailable — missing input for this month |
| May 2019 | — | Unavailable — missing input for this month |
| Apr 2019 | — | Unavailable — missing input for this month |
Small & mid cap share of active-equity buying
Line not crossedSep 2026
Watch line: ≥ 35 % of gross sales
Higher means small- and mid-cap categories account for a larger share of active-equity gross subscriptions.
Small and mid caps took less than the watch share of new money.
Calculations & source rows
Formula: 100 × (small cap + mid cap funds mobilised) ÷ active-equity funds mobilised
At or above 35%: an Exalytics allocation-concentration watch level, not a signal of a late-cycle rally or a price forecast. Scheme-level detail starts in Sep 2023, so earlier months read as unavailable. Methodology ↗
| Month | Reading | Assessment |
|---|---|---|
| Sep 2026 | 32.9 | Outside watch level |
| Aug 2026 | 32.1 | Outside watch level |
| Jul 2026 | 32.4 | Outside watch level |
| Jun 2026 | 30.5 | Outside watch level |
| May 2026 | 29.6 | Outside watch level |
| Apr 2026 | 28.3 | Outside watch level |
| Mar 2026 | 25.6 | Outside watch level |
| Feb 2026 | 24.9 | Outside watch level |
| Jan 2026 | 25 | Outside watch level |
| Dec 2025 | 25.2 | Outside watch level |
| Nov 2025 | 25.3 | Outside watch level |
| Oct 2025 | 24.9 | Outside watch level |
| Sep 2025 | 25.4 | Outside watch level |
| Aug 2025 | 26.1 | Outside watch level |
| Jul 2025 | 24.6 | Outside watch level |
| Jun 2025 | 26.3 | Outside watch level |
| May 2025 | 24 | Outside watch level |
| Apr 2025 | 24.3 | Outside watch level |
| Mar 2025 | 24.4 | Outside watch level |
| Feb 2025 | 25.1 | Outside watch level |
| Jan 2025 | 26.5 | Outside watch level |
| Dec 2024 | 24 | Outside watch level |
| Nov 2024 | 25 | Outside watch level |
| Oct 2024 | 22.8 | Outside watch level |
| Sep 2024 | 21.1 | Outside watch level |
| Aug 2024 | 19.6 | Outside watch level |
| Jul 2024 | 18.1 | Outside watch level |
| Jun 2024 | 17.5 | Outside watch level |
| May 2024 | 18.5 | Outside watch level |
| Apr 2024 | 21.5 | Outside watch level |
| Mar 2024 | 20.2 | Outside watch level |
| Feb 2024 | 20.9 | Outside watch level |
| Jan 2024 | 24.9 | Outside watch level |
| Dec 2023 | 26.4 | Outside watch level |
| Nov 2023 | 29.6 | Outside watch level |
| Oct 2023 | 28.1 | Outside watch level |
| Sep 2023 | 28.7 | Outside watch level |
| Aug 2023 | 26.8 | Outside watch level |
| Jul 2023 | 28.9 | Outside watch level |
| Jun 2023 | 32 | Outside watch level |
| May 2023 | 30.2 | Outside watch level |
| Apr 2023 | 28.6 | Outside watch level |
| Mar 2023 | 19.9 | Outside watch level |
| Feb 2023 | 21.4 | Outside watch level |
| Jan 2023 | 24 | Outside watch level |
| Dec 2022 | 28.3 | Outside watch level |
| Nov 2022 | 25.8 | Outside watch level |
| Oct 2022 | 22.7 | Outside watch level |
| Sep 2022 | 22.4 | Outside watch level |
| Aug 2022 | 23.3 | Outside watch level |
| Jul 2022 | 23.4 | Outside watch level |
| Jun 2022 | 20.4 | Outside watch level |
| May 2022 | 19.9 | Outside watch level |
| Apr 2022 | 19 | Outside watch level |
| Mar 2022 | 14.4 | Outside watch level |
| Feb 2022 | 18.3 | Outside watch level |
| Jan 2022 | 20.1 | Outside watch level |
| Dec 2021 | 14.5 | Outside watch level |
| Nov 2021 | 19.3 | Outside watch level |
| Oct 2021 | 20.5 | Outside watch level |
| Sep 2021 | 20.1 | Outside watch level |
| Aug 2021 | 17 | Outside watch level |
| Jul 2021 | 16.9 | Outside watch level |
| Jun 2021 | 24.6 | Outside watch level |
| May 2021 | 20.5 | Outside watch level |
| Apr 2021 | 20.9 | Outside watch level |
| Mar 2021 | 19.4 | Outside watch level |
| Feb 2021 | 20.5 | Outside watch level |
| Jan 2021 | 16.4 | Outside watch level |
| Dec 2020 | 19.1 | Outside watch level |
| Nov 2020 | 20.1 | Outside watch level |
| Oct 2020 | 15.2 | Outside watch level |
| Sep 2020 | 20.6 | Outside watch level |
| Aug 2020 | 19.7 | Outside watch level |
| Jul 2020 | 16.7 | Outside watch level |
| Jun 2020 | 17.8 | Outside watch level |
| May 2020 | 17.7 | Outside watch level |
| Apr 2020 | 18.4 | Outside watch level |
| Mar 2020 | 17.6 | Outside watch level |
| Feb 2020 | 24 | Outside watch level |
| Jan 2020 | 24.6 | Outside watch level |
| Dec 2019 | 18.8 | Outside watch level |
| Nov 2019 | 22.6 | Outside watch level |
| Oct 2019 | 19.9 | Outside watch level |
| Sep 2019 | 23.1 | Outside watch level |
| Aug 2019 | 21.8 | Outside watch level |
| Jul 2019 | 21.1 | Outside watch level |
| Jun 2019 | 20.4 | Outside watch level |
| May 2019 | 24.1 | Outside watch level |
| Apr 2019 | 22 | Outside watch level |
| Input | Value | Source |
|---|---|---|
| Small cap gross sales 01 Sep 2026 – 30 Sep 2026 Observation 396b15ae-1b55-583f-a0d1-c051229a3b33 | 13025.1 | AMFI monthly report (MCR), open-ended schemes ↗VERIFIED |
| Mid cap gross sales 01 Sep 2026 – 30 Sep 2026 Observation fc8ef5bb-18c6-581a-8fae-ad996e23d7c1 | 11630.9 | AMFI monthly report (MCR), open-ended schemes ↗VERIFIED |
| Active equity gross sales 01 Sep 2026 – 30 Sep 2026 Observation bd6c8e81-be7a-5aa5-aacd-faa8a4c84eb9 | 74832 | AMFI monthly report (MCR), open-ended schemes ↗VERIFIED |
Commodity ETF pull against active equity
Line not crossedSep 2026
Watch line: ≥ 20 % of active-equity net inflow
Higher means gold and silver ETFs are drawing money at a scale comparable to equity funds.
Commodity ETFs stayed well below the watch share of active-equity net inflow.
Calculations & source rows
Formula: 100 × commodity-ETF net inflow ÷ active-equity net inflow
At or above 20%: an Exalytics defensive-rotation watch level. Gold and silver ETF demand also tracks metal prices and ETF launches, so a crossing is not on its own evidence of equity risk aversion. Not applicable when active equity saw no net inflow. Methodology ↗
| Month | Reading | Assessment |
|---|---|---|
| Sep 2026 | 16.8 | Outside watch level |
| Aug 2026 | 13.2 | Outside watch level |
| Jul 2026 | 6.3 | Outside watch level |
| Jun 2026 | 11.9 | Outside watch level |
| May 2026 | -3.2 | Outside watch level |
| Apr 2026 | 7.9 | Outside watch level |
| Mar 2026 | 5.6 | Outside watch level |
| Feb 2026 | 20.2 | Watch level reached |
| Jan 2026 | 100 | Watch level reached |
| Dec 2025 | 41.5 | Watch level reached |
| Nov 2025 | 12.5 | Outside watch level |
| Oct 2025 | 31.4 | Watch level reached |
| Sep 2025 | 27.5 | Watch level reached |
| Aug 2025 | 6.5 | Outside watch level |
| Jul 2025 | 2.9 | Outside watch level |
| Jun 2025 | 8.8 | Outside watch level |
| May 2025 | 1.5 | Outside watch level |
| Apr 2025 | 0 | Outside watch level |
| Mar 2025 | -0.3 | Outside watch level |
| Feb 2025 | 6.8 | Outside watch level |
| Jan 2025 | 9.5 | Outside watch level |
| Dec 2024 | 1.6 | Outside watch level |
| Nov 2024 | 3.5 | Outside watch level |
| Oct 2024 | 4.7 | Outside watch level |
| Sep 2024 | 3.6 | Outside watch level |
| Aug 2024 | 4.2 | Outside watch level |
| Jul 2024 | 3.6 | Outside watch level |
| Jun 2024 | 1.8 | Outside watch level |
| May 2024 | 2.4 | Outside watch level |
| Apr 2024 | -2.1 | Outside watch level |
| Mar 2024 | 1.6 | Outside watch level |
| Feb 2024 | 3.7 | Outside watch level |
| Jan 2024 | 3 | Outside watch level |
| Dec 2023 | 0.5 | Outside watch level |
| Nov 2023 | 2.1 | Outside watch level |
| Oct 2023 | 4.2 | Outside watch level |
| Sep 2023 | 1.2 | Outside watch level |
| Aug 2023 | 5.1 | Outside watch level |
| Jul 2023 | 6 | Outside watch level |
| Jun 2023 | 0.8 | Outside watch level |
| May 2023 | 3.2 | Outside watch level |
| Apr 2023 | 1.9 | Outside watch level |
| Mar 2023 | -1.3 | Outside watch level |
| Feb 2023 | 1.1 | Outside watch level |
| Jan 2023 | -1.6 | Outside watch level |
| Dec 2022 | -3.7 | Outside watch level |
| Nov 2022 | -8.6 | Outside watch level |
| Oct 2022 | 1.6 | Outside watch level |
| Sep 2022 | 2.3 | Outside watch level |
| Aug 2022 | -0.6 | Outside watch level |
| Jul 2022 | -5.1 | Outside watch level |
| Jun 2022 | 0.9 | Outside watch level |
| May 2022 | 1.1 | Outside watch level |
| Apr 2022 | 6.9 | Outside watch level |
| Mar 2022 | 0.7 | Outside watch level |
| Feb 2022 | -1.3 | Outside watch level |
| Jan 2022 | -3 | Outside watch level |
| Dec 2021 | 1.2 | Outside watch level |
| Nov 2021 | 5.9 | Outside watch level |
| Oct 2021 | 5.8 | Outside watch level |
| Sep 2021 | 5.1 | Outside watch level |
| Aug 2021 | 0.3 | Outside watch level |
| Jul 2021 | -0.3 | Outside watch level |
| Jun 2021 | 6 | Outside watch level |
| May 2021 | 2.9 | Outside watch level |
| Apr 2021 | 19.8 | Outside watch level |
| Mar 2021 | 7.3 | Outside watch level |
| Feb 2021 | — | Not applicable — active equity saw no net inflow this month |
| Jan 2021 | — | Not applicable — active equity saw no net inflow this month |
| Dec 2020 | — | Not applicable — active equity saw no net inflow this month |
| Nov 2020 | — | Not applicable — active equity saw no net inflow this month |
| Oct 2020 | — | Not applicable — active equity saw no net inflow this month |
| Sep 2020 | — | Not applicable — active equity saw no net inflow this month |
| Aug 2020 | — | Not applicable — active equity saw no net inflow this month |
| Jul 2020 | — | Not applicable — active equity saw no net inflow this month |
| Jun 2020 | 205.5 | Watch level reached |
| May 2020 | 15.5 | Outside watch level |
| Apr 2020 | 11.8 | Outside watch level |
| Mar 2020 | -1.7 | Outside watch level |
| Feb 2020 | 13.7 | Outside watch level |
| Jan 2020 | 2.6 | Outside watch level |
| Dec 2019 | 0.6 | Outside watch level |
| Nov 2019 | 0.6 | Outside watch level |
| Oct 2019 | -0.5 | Outside watch level |
| Sep 2019 | 0.7 | Outside watch level |
| Aug 2019 | 1.6 | Outside watch level |
| Jul 2019 | -0.2 | Outside watch level |
| Jun 2019 | -0.2 | Outside watch level |
| May 2019 | -0.5 | Outside watch level |
| Apr 2019 | -0.2 | Outside watch level |
| Input | Value | Source |
|---|---|---|
| Commodity ETF (gold + silver) net flow 01 Sep 2026 – 30 Sep 2026 Observation 487b3408-8a4c-5031-955e-e56bf335377d | 6424.9 | AMFI monthly report (MCR), open-ended schemes ↗VERIFIED |
| Active equity net flow 01 Sep 2026 – 30 Sep 2026 Observation 40bf00a7-7208-5c00-ab3d-972082a109ce | 38306.6 | AMFI monthly report (MCR), open-ended schemes ↗VERIFIED |
AMFI publishes new and discontinued SIP counts only in its monthly note, and never publishes scheme-level flows or a SIP split by category. These screens describe industry flow behaviour; they cannot identify which investors acted, or predict market direction. AMFI monthly data ↗
Source note: AMFI row: Mid Cap Fund.
Source note: AMFI row: Small Cap Fund.
Source note: Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together.
Source note: Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together. Includes AMFI's reclassification of multi-cap schemes to flexi cap; the segment net flow is unaffected.
Source note: Monthly SIP contribution (INR crore) as printed in AMFI Table 1.
Source note: Captured from contemporaneous reporting of AMFI's monthly release because www.amfiindia.com refused connections when the snapshot was built. Re-read AMFI Table 1/2 before promoting to VERIFIED.
Source note: Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together. From August 2026 AMFI reports silver, debt and overseas ETFs separately (previously inside 'Other ETFs', mapped to passive equity), so this segment is not like-for-like with earlier months.
Source note: AMFI row: Mid Cap Fund. US-dollar value omitted: the IMF has not published this month's INR/USD rate yet.
Source note: AMFI row: Small Cap Fund. US-dollar value omitted: the IMF has not published this month's INR/USD rate yet.
Source note: Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together. US-dollar value omitted: the IMF has not published this month's INR/USD rate yet.
Source note: Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together. From August 2026 AMFI reports silver, debt and overseas ETFs separately (previously inside 'Other ETFs', mapped to passive equity), so this segment is not like-for-like with earlier months. US-dollar value omitted: the IMF has not published this month's INR/USD rate yet.
View copyable data & provenance
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"PublishedUtc": "2026-10-15T20:53:23+00:00",
"LoadedUtc": "2026-10-15T20:53:23+00:00",
"frequency": "Monthly, open-ended schemes",
"currencyBasis": "INR_CRORE",
"scope": "Full published snapshot, independent of dashboard chart filters",
"inspectedMonth": "Sep 2026",
"caution": "Historical screening calculations, not forecasts of market direction. A screen that does not trigger is not evidence of safety. Missing data are not zero.",
"methodology": [
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"AMFI restated its open-ended scheme taxonomy in the August 2026 report: SEBI category names replaced the older labels, index funds and ETFs are split by asset class, and a Life Cycle Funds block was added. Categories are mapped onto stable keys so the series stay continuous, but segment membership itself changed that month. Until July 2026 AMFI reported silver, debt and overseas ETFs together inside \u201COther ETFs\u201D, which sits in passive equity here; from August 2026 they are reported separately and move to commodity ETF, debt and overseas. Segment levels therefore step at August 2026 \u2014 commodity-ETF assets rise and passive-equity assets fall without any investor moving money \u2014 so a July-to-August comparison of a segment total is not like-for-like. Scheme categories inside a segment are unaffected.",
"AMFI does not publish a median SIP ticket size. Mean ticket is derived as (monthly SIP contribution \u00F7 contributing SIP accounts) and labeled ESTIMATED."
],
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},
{
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},
{
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"PeriodLabel": "Jul 2026",
"FrequencyCode": "MONTHLY",
"Value": 11048.65000000,
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}
]
},
{
"PeriodLabel": "Aug 2026",
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{
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},
{
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},
{
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"PeriodLabel": "Aug 2026",
"FrequencyCode": "MONTHLY",
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}
]
},
{
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"Value": null,
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"Status": "Unavailable \u2014 missing input for this month",
"Evidence": []
}
],
"Latest": {
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"Evidence": [
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},
{
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{
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}
]
}
},
{
"Code": "small-mid-share",
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"Formula": "100 \u00D7 (small cap \u002B mid cap funds mobilised) \u00F7 active-equity funds mobilised",
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"MethodologyUrl": "https://www.amfiindia.com/research-information/amfi-monthly",
"Points": [
{
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{
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{
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]
},
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{
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{
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}
]
},
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},
{
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{
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"SourceNote": "Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together. From August 2026 AMFI reports silver, debt and overseas ETFs separately (previously inside \u0027Other ETFs\u0027, mapped to passive equity), so this segment is not like-for-like with earlier months. US-dollar value omitted: the IMF has not published this month\u0027s INR/USD rate yet."
},
{
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"RefreshRunId": "dafcf1f1-db0d-5f14-974c-56508c92d523",
"SeriesGroup": "SEGMENT_FLOWS",
"IndicatorCode": "segment-net-flow",
"IndicatorLabel": "Active equity net flow",
"DimensionKey": "active-equity",
"SubjectCountryCode": "IND",
"PeriodStartUtc": "2026-09-01T00:00:00+00:00",
"PeriodEndUtc": "2026-09-30T00:00:00+00:00",
"PeriodLabel": "Sep 2026",
"FrequencyCode": "MONTHLY",
"Value": 38306.55000000,
"UnitCode": "INR_CRORE",
"DataStatus": "VERIFIED",
"IsApprovedForAgent": true,
"SourceName": "AMFI monthly report (MCR), open-ended schemes",
"SourceUri": "https://portal.amfiindia.com/spages/amsep2026repo.xls",
"SourceNote": "Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together. US-dollar value omitted: the IMF has not published this month\u0027s INR/USD rate yet."
}
]
}
],
"Latest": {
"PeriodLabel": "Sep 2026",
"PeriodEndUtc": "2026-09-30T00:00:00+00:00",
"Value": 16.772405763505196891915351290,
"Triggered": false,
"Status": "Outside watch level",
"Evidence": [
{
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"RefreshRunId": "dafcf1f1-db0d-5f14-974c-56508c92d523",
"SeriesGroup": "SEGMENT_FLOWS",
"IndicatorCode": "segment-net-flow",
"IndicatorLabel": "Commodity ETF (gold \u002B silver) net flow",
"DimensionKey": "commodity-etf",
"SubjectCountryCode": "IND",
"PeriodStartUtc": "2026-09-01T00:00:00+00:00",
"PeriodEndUtc": "2026-09-30T00:00:00+00:00",
"PeriodLabel": "Sep 2026",
"FrequencyCode": "MONTHLY",
"Value": 6424.93000000,
"UnitCode": "INR_CRORE",
"DataStatus": "VERIFIED",
"IsApprovedForAgent": true,
"SourceName": "AMFI monthly report (MCR), open-ended schemes",
"SourceUri": "https://portal.amfiindia.com/spages/amsep2026repo.xls",
"SourceNote": "Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together. From August 2026 AMFI reports silver, debt and overseas ETFs separately (previously inside \u0027Other ETFs\u0027, mapped to passive equity), so this segment is not like-for-like with earlier months. US-dollar value omitted: the IMF has not published this month\u0027s INR/USD rate yet."
},
{
"Id": "40bf00a7-7208-5c00-ab3d-972082a109ce",
"RefreshRunId": "dafcf1f1-db0d-5f14-974c-56508c92d523",
"SeriesGroup": "SEGMENT_FLOWS",
"IndicatorCode": "segment-net-flow",
"IndicatorLabel": "Active equity net flow",
"DimensionKey": "active-equity",
"SubjectCountryCode": "IND",
"PeriodStartUtc": "2026-09-01T00:00:00+00:00",
"PeriodEndUtc": "2026-09-30T00:00:00+00:00",
"PeriodLabel": "Sep 2026",
"FrequencyCode": "MONTHLY",
"Value": 38306.55000000,
"UnitCode": "INR_CRORE",
"DataStatus": "VERIFIED",
"IsApprovedForAgent": true,
"SourceName": "AMFI monthly report (MCR), open-ended schemes",
"SourceUri": "https://portal.amfiindia.com/spages/amsep2026repo.xls",
"SourceNote": "Sum of AMFI open-ended scheme categories in the segment; lump-sum and SIP money together. US-dollar value omitted: the IMF has not published this month\u0027s INR/USD rate yet."
}
]
}
}
]
}Sources
Publishers in this snapshot
- AMFI monthly report (MCR), open-ended schemes ↗23,916 observations · Apr 2019 – Sep 2026 · verified
- AMFI monthly report, new schemes launched ↗635 observations · Apr 2019 – Sep 2026 · verified
- AMFI SIP statistics, Table 1 ↗63 observations · Apr 2021 – Jun 2026 · verified
- AMFI Monthly Note (prepared with Crisil Intelligence), archived copy ↗41 observations · Jan 2024 – Jul 2025 · verified
- AMFI SIP statistics, Table 2 ↗31 observations · Aug 2025 – Jun 2026 · verified
- AMFI SIP statistics, Table 1 (fiscal-year totals) ↗6 observations · Apr 2021 – Aug 2026 · some provisional, verified
- AMFI monthly SIP statistics, reported by the press ↗4 observations · Jul 2026 – Aug 2026 · some provisional
Snapshot
Citation and snapshot details
Dataset india-amfi-flows-2026-09-20261015-ba1c4e38, refresh dafcf1f1-db0d-5f14-974c-56508c92d523, published 15 Oct 2026,
loaded into the database 15 Oct 2026. Every chart's table, CSV and Copy for AI carry each observation's Id,
status and source page.
Methodology and definitions
Flow definitions
Funds mobilised, repurchases and net flow are AMFI's columns for open-ended schemes. They mix SIP and lump-sum money and include switches between schemes. They are money into and out of fund units, not the funds' own purchases of shares: for those, see foreign vs mutual fund equity flows.
SIP figures
Scheme and segment flows are AMFI's funds-mobilised and repurchase columns for open-ended schemes. They mix lump-sum and SIP money. AMFI publishes no split of SIP contribution by scheme category, so no chart here should be read as one. From August 2026 AMFI's monthly report does carry SIP inflows and accounts by category; the headline SIP contribution equals that report's grand total plus SIPs into domestic funds of funds. Earlier contributing-account and asset figures come from AMFI's SIP tables and Monthly Notes, each row naming its document.
Breaks in the series
AMFI restated its open-ended scheme taxonomy in the August 2026 report: SEBI category names replaced the older labels, index funds and ETFs are split by asset class, and a Life Cycle Funds block was added. Categories are mapped onto stable keys so the series stay continuous, but segment membership itself changed that month. Until July 2026 AMFI reported silver, debt and overseas ETFs together inside “Other ETFs”, which sits in passive equity here; from August 2026 they are reported separately and move to commodity ETF, debt and overseas. Segment levels therefore step at August 2026 — commodity-ETF assets rise and passive-equity assets fall without any investor moving money — so a July-to-August comparison of a segment total is not like-for-like. Scheme categories inside a segment are unaffected. In January and February 2021 AMFI recorded multi-cap schemes moving to the new flexi-cap category as negative funds mobilised and redemptions; category gross figures for those months are reclassification, not behaviour.
Accounts and folios
Folios are investor accounts in a scheme and SIP accounts are instructions; one person can hold many of either. Discontinued SIPs include completed tenures and are not redemptions. AMFI does not publish a median SIP ticket size. Mean ticket is derived as (monthly SIP contribution ÷ contributing SIP accounts) and labeled ESTIMATED.
Currency
Rupee values are AMFI's crore figures. US-dollar values use the IMF's monthly average rupee rate for flows and its end-of-month rate for assets, stored with each row when the snapshot was loaded.
Not measured here
Which shares funds bought, investors' ages or ticket sizes, direct versus regular plans and flows into individual schemes. AMFI's monthly report does not publish them.
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