AMFI July 2026 Data: Equity Fund Inflows Fall 14.8%; Small Cap Fund Flows Jump 38.7%

AMFI mutual fund data for July 2026 showed overall equity oriented mutual fund inflows moderated compared with June 2026, but investor flows remained strong in small cap and mid cap fund schemes. At the same time, large cap funds moved into net outflows.  

Exchange traded funds continued to receive positive flows, although the pace was considerably lower than in June. 

Equity Mutual Fund Inflows Eased 14.8% In July 2026 

Growth and equity-oriented schemes recorded net inflows of ₹24,697 crore in July 2026, compared with ₹28,973 crore in June 2026. This represents a decline of about 14.8% in monthly net inflows. 

The moderation did not come from weaker gross mobilisation. Funds mobilised by equity oriented schemes actually increased from ₹67,601 crore in June to ₹69,522 crore in July. However, redemptions increased at a much faster pace, rising from ₹38,627 crore to ₹44,825 crore. 

This 16% rise in redemptions more than offset the improvement in fresh mobilisation and resulted in lower net equity inflows. 

Despite the moderation in flows, assets under management for growth (AUM) and equity oriented schemes increased from ₹37,33,731 crore at the end of June to ₹38,36,192 crore at the end of July, an increase of about 2.7%. 

The number of equity folios also increased from 18.59 crore to 18.73 crore during the month, adding more than 14.31 lakh folios. 

Small Cap Funds Lead Equity Mutual Fund Inflows 

Small cap funds emerged as one of the key equity fund category by net inflows during July. 

Net inflows into small cap funds increased from ₹5,602 crore in June to ₹7,768 crore in July, representing growth of about 38.7%. Small cap fund AUM increased from ₹4,29,715 crore to ₹4,41,100 crore. 

Mid cap funds saw net inflows increased marginally from ₹6,090 crore in June to ₹6,192 crore in July.  

Together, small cap and mid cap funds received net inflows of about ₹13,960 crore during July. This was equivalent to approximately 56.5% of total net inflows recorded by growth and equity oriented schemes during the month. 

Large Cap Funds Move from Inflows to Outflows 

One of the biggest changes in the AMFI July 2026 equity mutual fund data came from large cap funds. 

The category had recorded net inflows of ₹2,067 crore in June. In July, this reversed to a net outflow of ₹1,322 crore. 

Funds mobilised by large cap schemes declined from ₹6,508 crore to ₹4,746 crore, while redemptions increased from ₹4,441 crore to ₹6,068 crore. 

Value Funds and ELSS Record Net Outflows 

Several equity categories recorded net outflows during July. 

Value and contra funds moved from a net inflow of ₹687 crore in June to a net outflow of ₹145 crore in July. 

Dividend yield funds recorded a net outflow of ₹169 crore compared with an outflow of ₹49 crore in June. 

ELSS continued to see redemptions exceeding fresh mobilisation. Net outflows increased from ₹634 crore in June to ₹959 crore in July. 

Gold ETF Inflows Declined Over 50% In July  

Gold ETF inflows fell more sharply. Net inflows declined from ₹3,443 crore in June to ₹1,559 crore in July, a decrease of approximately 54.7%. 

Read More: Aditya Birla Sun Life AMC Introduces 2 Apex Equity Long-Short Funds Via SIF! 

Conclusion  

At the industry level, AMFI data showed overall equity inflows moderated as redemptions increased, even as small cap and mid cap funds continued to receive substantial net flows. Gold ETFs net inflows declined significantly in July. 

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