AMFI Data: Equity Mutual Fund Inflows Jumps 8% February 2026

However, on a year-on-year basis, inflows declined 11% from ₹29,303 crore recorded in February last year. Despite the yearly decline, equity funds continued to see steady investor interest, especially in categories such as flexi-cap, mid-cap, and small-cap funds.

Category-wise Equity Fund Inflows

Among the 11 equity mutual fund sub-categories, flexi-cap funds received the highest inflows during February 2026. The category attracted ₹6,924.65 crore during the month. However, inflows into flexi-cap funds declined around 10% compared with ₹7,672.36 crore in January.

Mid-cap funds and small-cap funds also witnessed strong investor interest. Net inflows into mid-cap funds increased by about 26%, rising from ₹3,185.47 crore in January to ₹4,002.99 crore in February. Similarly, small-cap funds recorded a 32% rise in inflows, increasing from ₹2,942.11 crore to ₹3,881.06 crore.

Large-cap funds also recorded a moderate increase in inflows. Net inflows into the category rose from ₹2,004.98 crore in January to ₹2,111.68 crore in February. Large and mid-cap funds recorded inflows of ₹3,137.73 crore in February, slightly lower than ₹3,181.89 crore recorded in the previous month. Multi-cap funds also witnessed a marginal decline in inflows from ₹1,995.23 crore in January to ₹1,933.53 crore in February.

Sectoral and thematic funds saw a sharp rise in inflows during February. Net inflows into this category increased nearly 187% to ₹2,987.29 crore from ₹1,042.56 crore in January.

On the other hand, some categories saw a decline in inflows. Dividend yield funds recorded inflows of ₹21.22 crore in February compared with ₹47.83 crore in January, reflecting a decline of around 56%. Focused funds also witnessed a significant drop in inflows from ₹1,556.96 crore to ₹900.72 crore, a decline of nearly 42%. Value and contra funds saw inflows fall from ₹992.89 crore to ₹727.07 crore.

Equity-linked savings schemes (ELSS) continued to record outflows during the month. The category saw an outflow of ₹650.02 crore in February compared with an outflow of ₹593.69 crore in January.

Debt Mutual Funds See Decline in Monthly Inflows

Debt mutual funds continued to record positive inflows for the second consecutive month, although the pace of inflows slowed. Net inflows into debt funds declined 44% month-on-month to ₹42,106 crore in February compared with ₹74,827 crore in January.

Among the 16 debt fund sub-categories, liquid funds recorded the highest inflows during February with ₹59,077 crore. Money market funds followed with inflows of ₹6,266 crore.

However, some categories witnessed significant outflows. Overnight funds saw the highest outflow of ₹14,006 crore during the month. Ultra short-duration funds also recorded outflows of ₹4,373 crore.

In comparison, debt mutual funds had recorded an outflow of ₹6,525 crore in February 2025.

Hybrid Funds Witness Decline in Inflows

Hybrid mutual funds also experienced a decline in inflows during February 2026. Net inflows into hybrid funds fell 31% to ₹11,983.37 crore from ₹17,356.02 crore recorded in January.

Among the hybrid fund categories, multi-asset allocation funds attracted the highest inflows at ₹8,476.26 crore in February, although this was lower than ₹10,485.38 crore recorded in January.

Balanced advantage and dynamic asset allocation funds recorded inflows of ₹1,521 crore during the month, compared with ₹1,678.16 crore in January.

Arbitrage funds witnessed a sharp fall in inflows, declining from ₹3,293.30 crore in January to ₹591.85 crore in February, representing an 82% decline. Equity savings funds also recorded a significant fall in inflows, declining by around 89% from ₹136 crore in January.

Conservative hybrid funds continued to witness outflows for the fourth consecutive month, with the category recording an outflow of ₹67.87 crore in February.

Other Schemes and Passive Funds

Other mutual fund schemes, which include passive products such as gold ETFs, silver ETFs, fund of funds (FoFs), and index funds, also saw a decline in overall inflows during February.

Total inflows into these schemes dropped 65% to ₹13,879 crore in February from ₹39,954 crore in January.

Gold exchange traded funds (ETFs) recorded inflows of ₹5,254.95 crore in February, sharply lower than ₹24,039.96 crore in January, marking a decline of nearly 78%. Silver ETFs recorded an outflow of ₹826 crore during the month.

Index funds, however, saw a massive surge in inflows. Net inflows into index funds increased sharply from ₹27.30 crore in January to ₹3,233.44 crore in February, representing a jump of about 11,745% from a small base.

Overall Mutual Fund Industry Trends

Overall net inflows into the mutual fund industry declined significantly during February. Total net inflows dropped 40%, falling from ₹1.56 lakh crore in January to ₹94,194 crore in February.

Despite the fall in net inflows, the total assets under management (AUM) of the mutual fund industry rose marginally. AUM increased 1% to ₹81.77 lakh crore in February compared with ₹80.76 lakh crore in January 2026.

New Fund Launches in February

During February 2026, a total of 22 new mutual fund schemes were launched in the market. These included 21 open-ended schemes and one close-ended scheme.

The 21 open-ended funds together mobilised ₹4,979 crore from investors. Among them, the SBI Quality Fund raised the highest amount, collecting ₹2,245 crore during its launch period.