Equity MF inflows slid 14.3% on geopolitics in January: AMFI

Net inflows into equity mutual funds fell 14.3% to ₹24,028.6 crore on heightened geopolitical tensions and related volatility in the market in January from December 2025, according to data from Association of Mutual Funds of India (AMFI). This is the second consecutive month of declining inflows. The flows however stayed positive for 59 months straight.

The net inflows came down from ₹28,054.6 crore in December 2025 and  ₹29,911.05 crore in November 2025.  “January’s data reflects a broadly steady trend in India’s mutual fund industry despite ongoing global uncertainties and short-term market volatility,” said Venkat Chalasani, CEO of AMFI.

The interest in gold ETFs continued to increase with net inflows doubling to ₹24,039.96 crore in January, from ₹11,647 crore in the previous month.  This is despite cautious commentary from market experts that the gold rally may moderate in this year as they had moved as high as 80% last year. 

“January’s AMFI data shows that equity inflows moderated month-on-month and reverted closer to October levels at around ₹24,000 crore, even as overall investor participation remained steady. Flexi-cap funds continued to attract the highest inflows at about ₹7,600 crore, indicating sustained preference for diversified equity strategies amid volatile market conditions,” said Suranjana Borthakur, Head of Distribution & Strategic Alliances, Mirae Asset Investment Managers (India).