3 weeks ago
Equity MF inflows fall 15%; small-cap funds hit record
A mutual fund is like a giant basket where lots of people put their money together to buy stocks.
Some baskets buy stocks of big, famous companies, and others buy stocks of smaller companies.
In July 2026, people put a little less new money into these baskets than they did in June.
The amount of new money fell by about 15 percent.
Big-company baskets, called large-cap funds, actually had money taken out for the first time since December 2023.
Small-company baskets, called small-cap funds, got more money than ever before — a new monthly record.
Medium-company baskets, called mid-cap funds, also got a tiny bit more money.
Some people pulled money out of tax-saving fund baskets called ELSS funds.
At the same time, money rushed into bond baskets, called debt funds, which received a huge Rs 1.87 lakh crore.
So overall, people still wanted to invest, but this month they preferred smaller companies and safer bond baskets.
Net inflows into equity mutual funds fell about 15% month-on-month to Rs 24,697 crore in July 2026, from Rs 28,973 crore in June (one report cites Rs 28,961 crore), according to AMFI data.
Large-cap funds recorded their first net outflow since December 2023 at Rs 1,321.69 crore, versus a Rs 2,067.5 crore inflow in June.
Small-cap funds set a monthly record with net inflows of Rs 7,768 crore, up 38.7% from June and the largest among equity fund segments.
Mid-cap inflows edged up 1.7% to Rs 6,192 crore, while flexi-cap inflows fell about 10% to Rs 4,709 crore and large & mid-cap inflows dropped 20.7% to Rs 3,425 crore.
ELSS fund outflows widened 51.3% to Rs 959 crore, value/contra funds swung from a Rs 687 crore inflow to a Rs 145 crore outflow, and debt funds received strong inflows of Rs 1.87 lakh crore in July.
- Who
- Investors in Indian equity mutual funds, with monthly data released by the Association of Mutual Funds in India (AMFI).
- What
- Equity mutual fund net inflows fell about 15% month-on-month to Rs 24,697 crore in July; large-cap funds saw their first outflow since December 2023 while small-cap funds hit a record monthly inflow, and debt funds received Rs 1.87 lakh crore.
- Where
- India.
- When
- July 2026; AMFI data released on August 11, 2026.
- Why
- Flows moderated mainly due to lower inflows into large-cap, large & mid-cap, focused and flexi-cap funds, as investor preference shifted toward small-cap and mid-cap schemes.
Key facts
- Net equity MF inflows (July)
- Rs 24,697 crore
- Month-on-month change
- about -15% (Rs 4,276 crore less than June)
- June 2026 inflows
- Rs 28,973 crore (one report cites Rs 28,961 crore)
- Large-cap funds
- Net outflow of Rs 1,321.69 crore; first since December 2023
- Small-cap funds
- Record net inflow of Rs 7,768 crore (up 38.7%)
- Mid-cap funds
- Net inflow of Rs 6,192 crore (up 1.7%)
- ELSS funds
- Net outflow of Rs 959 crore (outflows up 51.3%)
- Debt mutual funds (July)
- Inflows of Rs 1.87 lakh crore
Sources
Equity Mutual Fund Inflows Fall 15% To ₹24,697 Crore In July, Small-Cap Funds Hit Record High
Equity MF Inflows Fall 15% in July to Rs 24,697 Crore; Large-Cap Funds See First Outflow In Over 2 Years











