SIP inflows stood at ₹32,087 crore in March, up from ₹29,845 crore in February, marking a month-on-month increase of around 7.5% or ₹2,242 crore.
The rise in SIP contributions came alongside a sharp jump in net equity inflows, which stood at ₹40,366 crore in March compared with ₹25,965 crore in February, a rise of 55.5%. This indicates sustained investor interest in equity-oriented schemes during the month.
However, overall mutual fund assets under management (AUM) declined to ₹73.73 lakh crore in March from ₹82.03 lakh crore in February, a fall of about 10.1%, largely due to market-led corrections and weaker equity performance rather than redemption pressure.
Within equity categories, exchange-traded funds (ETFs) continued to attract strong inflows of ₹19,802 crore, sharply higher than ₹4,487 crore in February, while gold ETFs saw inflows of ₹2,266 crore versus ₹5,255 crore in the previous month.
According to Suranjana Borthakur, Head of Distribution & Strategic Alliances at Mirae Asset Mutual Fund, domestic investors are acting as an anchor for markets despite volatility and sustained foreign institutional investor (FII) outflows.
Borthakur noted that domestic institutional investors (DIIs) are no longer just providing a buffer but are increasingly setting the floor for volatile sessions, highlighting the strengthening role of local flows in market stability.
Borthakur added that SIP flows are expected to show a strong rebound beyond the ₹30,000 crore mark, partly aided by spillover processing from February, when the month-end SIP cycle was shorter. She further indicated that FY26 could potentially see record SIP numbers, with systematic investments remaining resilient despite ongoing market fluctuations.
Sandeep Bagla, CEO of TRUST Mutual Fund, noted that while the March data is encouraging, a portion of equity inflows may have been driven by institutional investors.
He added that SIP flows, however, remain the most resilient component of the data, reflecting consistent retail participation even amid volatility. Bagla also highlighted that the decline in overall AUM from ₹82.03 lakh crore to ₹73.73 lakh crore was largely due to a 10–11% correction in equity markets during the month, rather than redemption pressure.
First Published: Apr 10, 2026 12:36 PM IST
