Mutual Fund Trends India 2026: AUM, SIP and Key Data

MUTUAL FUND TRENDS INDIA 2026

Mutual Fund Trends India 2026: AUM Hits Rs 82 Lakh Crore — Complete Industry Data and Analysis

Part of our Mutual Funds India 2026 hub: Complete Guide to Mutual Funds India 2026

It is March 2026. The West Asia conflict is rattling global markets. FPIs have been net sellers. The Nifty has fallen over 1,000 points in three sessions.

And yet — India’s mutual fund industry crossed Rs 82 lakh crore in Assets Under Management in February 2026. A record high.

Equity funds recorded their 60th consecutive month of positive inflows. SIP contributions reached Rs 29,845 crore in February. The number of investor folios crossed 27 crore for the first time.

While fear drove headlines, India’s retail investors quietly kept investing.

This article is the complete data reference for India’s mutual fund industry as of February 2026. Every number is sourced directly from AMFI’s official data release of March 10, 2026, and the statements of AMFI CEO Venkat Chalasani.

Whether you are an investor trying to understand where the industry stands, a researcher tracking trends, or a new investor trying to understand the scale of what you are joining — this article has the complete picture.

Rs 82.03 Lakh Cr Total industry AUM — February 2026

27 Crore+ Total investor folios — February 2026

Rs 29,845 Cr SIP contributions — February 2026

60 Months Consecutive months of equity inflows

1. The AUM Story — From Rs 13 Lakh Crore in 2016 to Rs 82 Lakh Crore in 2026

India’s mutual fund industry has delivered one of the most remarkable growth stories in financial services history. It took 56 years — from 1964 to 2020 — for the industry to cross Rs 30 lakh crore. Then it crossed Rs 40 lakh crore in 2023, Rs 50 lakh crore in 2024, and Rs 82 lakh crore in February 2026.

AUM Milestones — India Mutual Fund Industry

Year / Month	Industry AUM	Key Driver
March 2016	~Rs 13 lakh crore	Post-demonetisation push to formal finance. SIP awareness beginning.
November 2020	Rs 30 lakh crore (first crossing)	COVID recovery. Retail investor explosion. Fin-tech platforms launch.
March 2023	Rs 40 lakh crore	Post-COVID bull market. SIP accounts doubled in 2 years.
February 2024	Rs 54 lakh crore	SIP inflows crossed Rs 18,000 crore/month. Passive fund explosion.
January 2026	Rs 81.01 lakh crore	60-month equity inflow streak. SIP crossed 9 crore active accounts.
February 2026 (latest)	Rs 82.03 lakh crore — RECORD HIGH	Despite market volatility. Retail investor resilience. 60th equity inflow month.

The pace of growth is accelerating, not slowing. The industry added Rs 1.02 lakh crore in AUM in just one month (January to February 2026) despite market turbulence. This is not a coincidence — it is the structural consequence of millions of SIP mandates that automatically invest every month regardless of market conditions.

2. February 2026 Industry Data — The Complete Breakdown

The following data is sourced directly from AMFI’s February 2026 monthly release, published on March 10, 2026. All figures are verified.

Top-Level Industry Snapshot — February 2026

Metric	February 2026	January 2026	Change
Total Industry AUM	Rs 82.03 lakh crore	Rs 81.01 lakh crore	+Rs 1.02 lakh crore (+1.26%)
AAUM (Average AUM for month)	Rs 83,42,617 crore	Rs 82.01 lakh crore	Sustained high
Total Folios (open-ended)	27 crore+ (record)	26.63 crore	+37 lakh new folios
Total Net Inflows (all categories)	Rs 94,530 crore	Rs 1,56,458 crore	Decline due to lower debt/gold flows
Equity Fund Net Inflows	Rs 25,977.91 crore	Rs 24,028.59 crore	+8% month-on-month
SIP Contributions	Rs 29,845 crore	Rs 31,002 crore	-4% (February shorter month)
Active SIP Accounts	9.92 crore	9+ crore	Growing steadily
Number of Schemes	1,937	1,919	+18 new schemes
NFOs Launched	22 (21 open-ended + 1 close-ended)	—	Rs 4,979 crore raised from NFOs

As AMFI CEO Venkat Chalasani stated on March 10, 2026: “February’s data reflects the continued stability and resilience of the mutual fund industry, with assets under management rising to Rs 82.03 lakh crore. Equity funds recorded net inflows of Rs 25,978 crore during the month, marking the 60th consecutive month of positive inflows. This sustained momentum reflects growing investor participation despite intermittent market volatility.”

3. SIP Data — India’s Most Powerful Investment Trend

The SIP story is the most remarkable transformation in Indian retail finance in the last decade. Systematic Investment Plans have moved from a product category to a national savings habit.

SIP Data — February 2026 and Historical Milestones

SIP Metric	Current Data (Feb 2026)	Historical Context
Monthly SIP contributions	Rs 29,845 crore	Was Rs 18,000 crore in early 2024. 66% growth in 2 years.
Active SIP accounts	9.92 crore	Was 5 crore in 2022. Doubled in 3 years.
Annual SIP contributions (2025)	Over Rs 3 lakh crore — first time ever	Previous year: Rs 2.2 lakh crore. 36% growth.
Average SIP ticket size	Approximately Rs 3,000 per month	Rising steadily — retail investors increasing amounts each year.
SIP AUM	Rs 16.36 lakh crore (January 2026)	Rs 15.5 trillion as on September 2025 — growing rapidly.
SIP as % of equity inflows	Approximately 55 to 60% of monthly equity inflows	Makes equity market less volatile — monthly inflow regardless of market.

The SIP decline in February 2026 (-4% from January) was structural, not sentiment-driven. As AMFI CEO Venkat Chalasani explained: “The marginal moderation compared to recent months is primarily due to February being a shorter month, with some end-of-month SIP instalments typically getting processed in early March.”

February 2026 had fewer working days than January. The 28th fell on a Saturday. Some SIPs that would have processed on February 28 got processed in early March instead. This is a calendar artefact, not a trend reversal.

4. Equity Fund Inflows — 60 Months and Counting

February 2026 marked the 60th consecutive month of positive net inflows into equity mutual funds in India. This is an extraordinary streak that has survived two major market corrections (the 2022 global selloff and the 2025-2026 West Asia conflict), multiple FPI outflow periods, and sustained market volatility.

Equity Category Inflows — February 2026

Equity Fund Category	February 2026 Inflows	vs January 2026	Key Observation
Flexi Cap Funds	Rs 6,924.65 crore	-10% (from Rs 7,672 crore)	Still highest inflow category in equity. Reflects preference for diversified equity.
Mid Cap Funds	Strong — surged up to 32%	+32% month-on-month	Investors buying mid caps during correction. Value-seeking behaviour.
Small Cap Funds	Surged in February	Strong growth	Small cap corrections attracting bottom-fishers and SIP investors alike.
Large Cap Funds	Positive inflows	Stable	Core equity category maintaining steady participation.
Multi Asset Allocation	Rs 8,476.26 crore	Down from Rs 10,485 crore Jan	Highest inflow hybrid category. Investors want diversification across asset classes.
ELSS (Tax Saving) Funds	Elevated — March year-end proximity	Seasonal spike	Tax season (Jan to March) drives ELSS. Last quarter of financial year.

5. The Passive Fund Surge — Index Funds and ETFs Take 19% of AUM

India’s passive fund industry — comprising index funds and ETFs — has been one of the fastest-growing segments of the mutual fund market. As of early 2026, passive funds account for approximately 19% of total mutual fund AUM, a significant jump from under 5% a decade ago. ^[5]

February 2026 showed a dramatic pattern shift: after a record Rs 39,954 crore of passive fund inflows in January (largely driven by gold ETFs), passive funds saw Rs 13,879 crore in February. But within that number, a fascinating rotation happened.

The Passive Fund Rotation — January to February 2026

Passive Category	January 2026	February 2026	What It Means
Gold ETFs	Rs 24,040 crore — record high	Rs 5,255 crore — fell 78%	War fear drove gold rush in Jan. Equity correction attracted capital back in Feb.
Silver ETFs	Strong inflows	Net outflow Rs 826 crore	Profit-booking after January gold/silver spike.
Index Funds	Rs 27 crore — minimal	Rs 3,233 crore — up 11,874%	Investors rotating from crisis hedges to equity index funds as markets corrected.
Total passive inflows	Rs 39,954 crore	Rs 13,879 crore (-65.3%)	Lower due to gold/silver decline. Equity index up sharply.

The index fund surge — from Rs 27 crore to Rs 3,233 crore in one month — is one of the most striking data points in the February 2026 AMFI release. It shows that Indian investors are becoming sophisticated enough to rotate from crisis hedges (gold) into equity index funds during market corrections, rather than panicking and staying in cash.

This is exactly the behaviour that long-term wealth creation requires. When markets fall, smart investors buy index funds at lower prices. The Rs 3,233 crore inflow into index funds in February 2026 represents hundreds of thousands of investors doing exactly that.

6. Category-Wise Inflows — Where Money Is Flowing in 2026

Understanding where money is flowing reveals investor sentiment and priorities. The February 2026 data shows a clear picture of what Indian investors are buying and selling.

Fund Category	February 2026 Net Flow	January 2026 Net Flow	Trend
Equity Funds (total)	Rs 25,977.91 crore	Rs 24,028.59 crore	Rising — 60th consecutive positive month
Hybrid Funds (total)	Rs 11,983.37 crore	Rs 17,356.02 crore	Moderate — multi-asset strongest subcategory
Liquid Funds	Rs 59,077 crore	Rs 30,681 crore	Near doubled — corporate treasury parking cycle
Debt Funds (total)	Rs 42,106.31 crore	Rs 74,827.13 crore	Declined 43.7% — gold/silver FoF normalisation
Gold ETFs	Rs 5,255 crore	Rs 24,040 crore	Fell 78% — profit booking after January peak
Silver ETFs	Net outflow Rs 826 crore	Strong inflows	Sharp reversal — post-January correction
Index Funds	Rs 3,233 crore	Rs 27 crore	Surged 11,874% — risk-on rotation
Arbitrage Funds	Rs 591.85 crore	Rs 3,293.30 crore	Fell 82% — arbitrage spreads narrow in Feb

7. B15 and B30 City Growth — India’s Next 100 Million Investors

One of the most significant structural trends in the Indian mutual fund industry is the rapid growth of investment from beyond the top 15 cities — what AMFI calls B15 cities (now B30 cities after the category was expanded).

Historically, mutual fund investment was concentrated in India’s top 5 to 8 cities — Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Kolkata, Pune, and Ahmedabad. These cities still account for the majority of AUM. But the growth rate in smaller cities is dramatically faster.

B30 City Growth — Key Data Points

Metric	Data	Significance
Share of SIP registrations from B15/B30 cities	60%+ of new SIP accounts (FY26)	More than half of new investors come from non-metro cities. Fin-tech democratisation working.
Demat accounts growth (all India)	207.1 million as of H1 FY26	From 23.3 million in 2015 — 9x growth in 10 years. Capital market awareness exploding.
Retail investors as % of AUM	60.7% (up from 52.4% in 2020)	Industry shifting from institutional to retail-driven — more stable, less volatile.
Individual vs institutional AUM	Individual: 60.9% | Institutional: 39.1% (Sep 2025)	Structural shift — institutional share fell from 47.6% in 2020.
Average SIP amount	~Rs 3,000/month — growing	Increasing even among smaller city investors — income growth effect.

The B30 city growth story has profound implications for the industry. A decade ago, a farmer in Rajasthan or a small business owner in a Tier 3 city in Odisha could not practically invest in mutual funds. Today, they can start a Rs 500 SIP in 10 minutes on their smartphone using UPI. The platform revolution has democratised wealth creation in a way that no government programme could have achieved in the same timeframe.

8. NFO Activity — New Fund Launches in February 2026

February 2026 saw 22 new mutual fund schemes launched — 21 open-ended and 1 close-ended. These 22 NFOs collectively raised Rs 4,979 crore from investors.

Notable February 2026 NFO Activity

NFO	Amount Raised	Category	Significance
SBI Quality Fund	Rs 2,245 crore	Equity — Quality Factor	Highest NFO collection in February 2026. Investor appetite for quality stocks during volatile market.
8 equity NFOs (total)	Rs 3,955 crore	Various equity categories	4x higher than January equity NFO collections (Rs 806 crore). Strong investor interest in new themes.
Total 22 NFOs	Rs 4,979 crore total	Mixed — equity + debt	Continued product innovation. AMCs launching new themes and factor-based strategies.

The SBI Quality Fund raising Rs 2,245 crore in its NFO period is significant. It shows investors are willing to explore factor-based investing (quality factor, in this case) rather than sticking only to traditional large-cap or flexi-cap categories. Quality funds invest in companies with strong return on equity, low debt, and stable earnings — characteristics that are particularly attractive during market volatility.

9. What These Trends Mean for You as an Investor

Industry data is most valuable when you understand what it means for your personal investment decisions. Here is how the key February 2026 trends translate into practical investor guidance.

Industry Trend	What It Means for You
AUM at record Rs 82 lakh crore despite market fall	The Rs 82 lakh crore is invested by crores of Indians who did not panic. Market falls have not driven mass redemptions. Long-term investing culture is taking root.
60th consecutive month of equity inflows	The SIP mandate has created automatic investing that ignores short-term news. If you have an active SIP, you are already doing what the data says works.
Index funds surged 11,874% in February	Smart money rotated from gold (crisis hedge) to index funds (cheap equity) when markets fell. If you are not in an index fund yet, corrections are good entry points.
Flexi cap still the highest inflow equity category	After all the sectoral and thematic fund excitement, diversified equity remains India’s preferred choice. This validates the core portfolio approach.
27 crore folios — record high	India now has 27 crore investor folios. That is 1 in every 5 Indians with a mutual fund account. The industry is mainstream, not niche. Financial advisors and platforms are trustworthy.
Multi-asset funds highest inflow hybrid category	Investors want diversification across stocks, bonds, and gold in one fund. Multi-asset allocation funds deserve consideration in 2026’s uncertain environment.
B30 city SIP growth — 60%+ of new accounts	Mutual fund investing is no longer a metro phenomenon. If you are investing from a smaller city, you are part of the fastest-growing investor segment in the country.

10. Frequently Asked Questions

Conclusion

The February 2026 AMFI data tells a story that cuts through the noise of daily market headlines.

Despite a West Asia conflict that wiped $447 billion off India’s market capitalisation in three sessions, equity funds recorded their 60th consecutive month of inflows. Despite market volatility, AUM hit a record Rs 82.03 lakh crore. Despite FPI outflows, retail investors were net buyers — and SIP investors barely blinked.

What this data reflects is a maturing investor base. The retail investors who drove India’s mutual fund revolution are not the nervous first-timers of 2018 who sold at every dip. They are experienced, SIP-habituated investors who have lived through the COVID crash and come out stronger. They know that market falls are buying opportunities, not exit signals.

For a new investor reading this article: you are joining an industry with Rs 82 lakh crore in assets, 27 crore investor folios, and a 60-month unbroken streak of positive equity inflows. The infrastructure is mature. The culture of long-term investing is established. The data says: this is a good time to start or continue.

Continue reading: This article is part of our Mutual Funds India 2026 content hub at aspirixwriters.com/mutual-funds/

Complete Guide to Mutual Funds India 2026

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Author

CA Ajay Khandelwal is a Chartered Accountant and financial expert with over 21 years of experience in taxation, compliance, and business advisory. As a key expert at AspirixWriters, he provides practical insights on income tax, financial planning, and regulatory matters, helping readers make informed financial decisions.

Author profile CA. Ajay Khandelwal

Disclaimer

This article is for educational and informational purposes only. All data cited is from AMFI’s official monthly data release for February 2026, published March 10, 2026, and from verified secondary sources. While every effort has been made to ensure accuracy, readers are encouraged to verify all figures directly at amfiindia.com before making investment decisions.

Mutual fund investments are subject to market risks. Past industry growth does not guarantee future returns. Please read all scheme-related documents carefully before investing.

For personalised investment advice, consult a SEBI-registered Investment Advisor at: sebi.gov.in

References

[1] AMFI India — Monthly Data February 2026 (AUM Rs 82.03 lakh crore, folios 27 crore+, SIP Rs 29,845 crore, 60th consecutive equity inflow) | Venkat Chalasani CEO statement March 10, 2026 — https://www.amfiindia.com/research-information/amfi-monthly

[2] Zee Biz — AMFI Data Feb 2026: MFs buck trend with 8% jump; Gold and Silver ETF inflows plunge up to 78% | Complete category breakdown | March 10, 2026 — https://www.zeebiz.com/personal-finance/news-amfi-data-feb-2026-mf-see-rs-25978-crore-inflows-gold-etf-gets-rs-5255-crore-aum-tops-rs-82-lakh-crore-391740

[3] Business Standard — Equity MF inflows up 8% in Feb on lower redemption; AUM grows to Rs 82 trillion | SBI Quality Fund NFO Rs 2,245 crore | March 10, 2026 — https://www.business-standard.com/markets/mutual-fund/equity-mutual-fund-inflows-rise-8-in-february-on-lower-redemption-126031001187_1.html

[4] Republic World — Mid/Small Cap Inflows Surge up to 32% as Gold ETF Investments Crash 78% in February: AMFI | Index fund 11,874% surge | AUM record Rs 82.03 lakh crore — http://www.republicworld.com/business/mid-small-cap-inflows-surge-up-to-32-as-gold-etf-investments-crash-78-in-february-amfi

[5] CRISIL Intelligence — Assessment of Mutual Fund Industry in India (ICICI Pru AMC Report) | Retail investor 60.7% share | Demat accounts 207.1 million H1 FY26 | B15 city SIP growth | SIP AUM Rs 15.5 trillion September 2025 — https://www.icicipruamc.com/blob/investor-relations/IR_Documents/ICICI_Prudential_Industry_Report.pdf

[6] Venture Securities — AMFI Data: Equity Mutual Fund Inflows Jumps 8% February 2026 | 22 NFOs Rs 4,979 crore | All category breakdown — https://www.venturasecurities.com/news/amfi-data-equity-mutual-fund-inflows-jumps-8-february-2026/

[7] Outlook Money — AMFI February 2026 Data: Equity Mutual Fund Inflows Up 8% To Rs 25,978 Crore | Vaibhav Chugh CEO Abakkus MF quote — https://www.outlookmoney.com/invest/amfi-february-2026-data-equity-mutual-fund-inflows-up-8-to-rs-25978-crore

[8] Bajaj Finserv — Mutual Fund Industry in India: Size, AUM and Trends | AUM milestone history | January 2026 data Rs 81.01 lakh crore — https://www.bajajfinserv.in/investments/mutual-fund-industry

[9] Morningstar India — AMC-wise Average AUM rankings | February 2026 | morningstar.in — https://www.morningstar.in/tools/mutual-fund-amfi-average-aum-by-fund-house.aspx

[10] AMFI India — AUM milestone: Rs 30 lakh crore (November 2020) | Industry first crossed Rs 30 trillion | amfiindia.com — https://www.amfiindia.com/articles/indian-mutual