The below India Mutual Funds analysis in based on the monthly report available on AMFI website. The analysis covers the category wise AUM , inflows and outflows of mutual funds in India during the month of March 2025. The data shows that there were strong outflows from debt funds mainly liquid funds may be due to outflows by big corporates to meet their year end tax liability. The equity funds had a positive inflows of Rs 25082 Crores. Apart from this, the index funds and ETF also displayed positive funds flows during the month of March 2025. Read on for full report analysis below.
Indian Mutual Fund Analysis - March 2025
Indian Mutual Fund Landscape
March 2025 Performance Analysis
Total AUM
₹65.7 Lakh Crore
As of March 31, 2025
Total Folios
234.5 Million
Active investor accounts
Total Schemes
1,760
Across all categories
Based on AMFI data for the month ending March 31, 2025
Page 1 of 12
Open-Ended Schemes: Category Analysis
Dominating the Indian MF Landscape with ₹6.55 Lakh Crore AUM
AUM Distribution by Category
Growth/Equity oriented schemes lead with 45% of total AUM
Category Highlights
Total Open-Ended Schemes:1,652
Total Folios:233.99 Million
Net Inflow/Outflow:-₹164,137.81 Cr
Funds Mobilized in March:₹1,320,122.09 Cr
Net Flow Analysis
Key Insights
While debt schemes faced outflows of ₹202,663 Cr, equity schemes showed strong inflows of ₹25,082 Cr, demonstrating investors' continued faith in equity markets.
Other schemes (including Index Funds and ETFs) saw positive inflows of ₹14,148 Cr, reflecting growing interest in passive investment strategies.
Despite net outflows in hybrid schemes, Multi Asset Allocation Funds showed positive inflows of ₹1,670 Cr, suggesting investor preference for diversified portfolios.
Page 2 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Growth/Equity Oriented Schemes - March 2025
Growth/Equity Oriented Schemes
Driving the Market with ₹2.95 Lakh Crore AUM
AUM Distribution by Equity Scheme Type
Flexi Cap Funds lead with highest AUM, followed by Sectoral/Thematic Funds
Key Metrics
Total Equity Schemes:510
Total Folios:163.82 Million
Net Inflow:+₹25,082.01 Cr
Funds Mobilized in March:₹56,525.73 Cr
Net Flow by Fund Type
Key Insights
Small Cap funds saw the highest relative inflow (₹4,092 Cr), reflecting investors' risk appetite and search for higher returns in a buoyant market.
Flexi Cap funds attracted substantial investments (₹5,615 Cr) due to their flexibility to invest across market caps based on market conditions.
Sectoral/Thematic funds, despite having highest number of schemes (212), saw minimal net inflows, suggesting investor caution in sector-specific bets.
Page 3 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Income/Debt Oriented Schemes - March 2025
Income/Debt Oriented Schemes
Safety First: Managing ₹1.52 Lakh Crore in Fixed Income Assets
AUM Distribution by Debt Scheme Type
Liquid funds and Corporate Bond funds lead the debt segment
Key Metrics
Total Debt Schemes:321
Total Folios:6.95 Million
Net Outflow:-₹202,663.04 Cr
Funds Mobilized in March:₹1,190,385.43 Cr
Top Outflows in Debt Categories
Key Insights
Liquid funds saw the highest outflow (-₹133,034 Cr), likely due to quarter-end withdrawals by corporates for tax payments and financial year-end obligations.
Overnight funds experienced significant outflows (-₹30,015 Cr), indicating a potential shift away from ultra-short-term funds in search of better yields as rates stabilize.
Money Market funds faced substantial redemptions (-₹21,301 Cr), yet maintain the third highest AUM in the debt category, reflecting their importance for institutional investors.
Page 4 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Hybrid Schemes - March 2025
Hybrid Schemes Analysis
The Best of Both Worlds: Balancing Risk and Return with ₹883,443 Crore AUM
AUM Distribution by Hybrid Scheme Type
Net Flow Analysis
Key Metrics
Total Hybrid Schemes:166
Total Folios:15.67 Million
Net Outflow:-₹946.56 Cr
Funds Mobilized in March:₹32,465.71 Cr
Category Analysis
Dynamic Asset Allocation₹283,673 Cr
Highest AUM with net inflow of ₹776 Cr
Arbitrage Fund₹204,087 Cr
Largest outflow at -₹2,854 Cr despite high AUM
Multi Asset Allocation+₹107,095 Cr
Highest net inflow among hybrid schemes of ₹1,670 Cr
Key Insights
Multi Asset Allocation Funds showed strong inflows (+₹1,670 Cr), suggesting investor preference for diversification across asset classes amid market uncertainty.
Arbitrage Funds saw significant outflows (-₹2,854 Cr), potentially due to narrowing arbitrage opportunities in the market and reduced short-term return potential.
Dynamic Asset Allocation Funds maintained positive inflows (+₹776 Cr) and highest AUM, demonstrating continued investor trust in professional asset allocation strategies.
Page 5 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Other Schemes - March 2025
Index Funds & ETFs: The Passive Revolution
Commanding ₹1.15 Lakh Crore with Strong Positive Flows
AUM Distribution in Other Schemes
YoY Growth in Index-based Assets
Index funds and ETFs have shown consistent growth over the past 3 years
Key Metrics
Total Other Schemes:614
Total Folios:41.47 Million
Net Inflow:+₹14,148.60 Cr
Funds Mobilized in March:₹40,314.97 Cr
Category Breakdown
Index Funds309 Schemes
AUM: ₹283,397 Cr+₹3,500 Cr Flow
Other ETFs232 Schemes
AUM: ₹779,630 Cr+₹10,961 Cr Flow
Gold ETFs20 Schemes
AUM: ₹58,888 Cr-₹77 Cr Flow
Overseas FoFs53 Schemes
AUM: ₹25,031 Cr-₹236 Cr Flow
Key Insights
ETFs beyond gold saw remarkable inflows of ₹10,961 Cr, indicating strong investor preference for low-cost passive strategies tracking various market segments.
Index Funds continued their growth trend with ₹3,500 Cr in positive flows, reflecting retail investors' growing comfort with passive investing approaches.
10 new ETFs and 11 new Index Funds were launched in March alone, showing AMCs' commitment to expanding their passive product offerings to meet investor demand.
Page 6 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Solution Oriented Schemes - March 2025
Solution Oriented Schemes
Goal-Based Investing for Life's Major Milestones
Solution Oriented Schemes Overview
Both categories saw positive net inflows, indicating growing investor interest in goal-based investment solutions
Folio Distribution
Key Metrics
Total Solution Schemes:41
Total Folios:6.07 Million
Net Inflow:+₹241.18 Cr
Funds Mobilized in March:₹430.24 Cr
Category Analysis
Retirement Funds
29
Schemes
₹29,104 Cr
AUM
+₹108.25 Cr
Net Inflow
2.99 Mn
Folios
Children's Funds
12
Schemes
₹22,077 Cr
AUM
+₹132.93 Cr
Net Inflow
3.07 Mn
Folios
Key Insights
Children's Funds saw higher net inflows (+₹132.93 Cr) than Retirement Funds (+₹108.25 Cr), suggesting parents are increasingly prioritizing education and future planning for their kids.
With 3.07 million folios, Children's Funds have slightly more investor accounts despite having fewer schemes (12 vs 29), indicating higher average investment per scheme.
The positive inflows across both categories highlight growing awareness about goal-based investing, with investors looking beyond traditional mutual fund categories to meet specific life objectives.
Page 7 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - New Fund Offerings - March 2025
New Fund Offerings (NFOs)
Fresh Investment Avenues: ₹4,085 Crore Mobilized in March 2025
NFO Distribution by Category
Index Funds dominated with 50% of total funds mobilized through NFOs
Number of New Schemes by Category
NFO Highlights
Total New Schemes:30
Total Funds Mobilized:₹4,085 Crore
Average per Scheme:₹136.17 Crore
All NFOs are Open-Ended:
Notable New Offerings
Index & ETF Innovations
Aditya Birla Sun Life CRISIL-IBX Financial Services Fund and multiple specialized indices including Kotak Nifty Commodities Index Fund show focus on sector-specific passive strategies.
Debt Fund Leadership
Low Duration Funds (Edelweiss and Franklin India) attracted ₹928 Cr, the highest among individual categories, demonstrating investor preference for short-term debt opportunities.
Balanced Approaches
Unifi Dynamic Asset Allocation Fund raised ₹520 Cr, showing substantial investor interest in professional dynamic allocation strategies amid market volatility.
Key Insights
Index Funds and ETFs combined accounted for 73% of all new scheme launches (22 out of 30), highlighting the industry's pivot toward passive investment strategies in response to growing investor demand.
Specialized thematic products like Motilal Oswal Active Momentum Fund and niche indices like Kotak Nifty Commodities show AMCs are creating focused products for sophisticated investors seeking targeted exposures.
The launch of multiple precious metal ETFs (Silver ETFs from 360 ONE and Zerodha) suggests diversification beyond traditional gold ETFs as investors seek inflation hedges in alternative assets.
Page 8 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Close-Ended Schemes - March 2025
Close-Ended Schemes
Net AUM: ₹26,606 Crore
Close-Ended vs Open-Ended Schemes
Close-ended schemes represent just 0.4% of the total mutual fund AUM
Close-Ended AUM Distribution
Key Metrics
Total Close-Ended Schemes:100
Total Folios:519,598
Net Outflow:-₹291.74 Cr
Funds Mobilized in March:₹23.94 Cr
Category Analysis
Fixed Term Plans
Schemes:80
AUM:₹16,140 Cr
Folios:68,019
Flow:-₹212 Cr
Infrastructure Debt Fund
Schemes:4
AUM:₹1,112 Cr
Folios:30
Flow:₹0 Cr
ELSS & Other Schemes
ELSS Schemes:15
ELSS AUM:₹4,034 Cr
Other Debt:₹5,319 Cr
Net Flow:-₹79 Cr
Key Insights
Fixed Term Plans dominate the close-ended segment with 80% of schemes and 60% of AUM, catering to investors who prefer predictable maturity dates and returns.
Infrastructure Debt Funds, despite low folio count (just 30), manage over ₹1,112 Cr, indicating large ticket sizes from institutional investors seeking tax-efficient long-term infrastructure exposure.
Close-ended ELSS funds continue to see outflows (-₹65 Cr) as investors increasingly prefer their open-ended counterparts which provide the same tax benefits with added liquidity.
Page 9 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Fund of Funds (Domestic) - March 2025
Fund of Funds (Domestic)
AUM Size: ₹97,261 Crore
Fund of Funds Flow Analysis
Key Metrics
Total FoF Schemes:94
Total Folios:3.48 Million
Net Inflow:+₹1,615.44 Cr
Funds Mobilized in March:₹3,228.03 Cr
Key Insights
Fund of Funds saw robust positive flows (+₹1,615 Cr) while many other categories faced outflows.
Retail investors continue to embrace FoF structures for accessing specialty exposures like thematic indices and ETFs through a single investment vehicle.
Growing investor preference for professional multi-layer fund selection and diversification.
Page 10 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Market Trends and Future Outlook - March 2025
Market Trends and Future Outlook
Analyzing Shifting Investor Preferences and Industry Directions
Category-wise Net Flow Comparison
Significant outflows from debt funds contrasted with strong equity inflows
Emerging Trends
Passive investment strategies continue to gain market share, with 22 new index funds and ETFs launched in March alone.
Small and mid-cap funds see strong investor interest with combined inflows of ₹7,531 Cr, reflecting appetite for higher growth potential.
Quarter-end liquidity adjustments driving significant debt fund outflows, particularly in liquid (-₹133,034 Cr) and overnight funds (-₹30,015 Cr).
Strategic Implications
AMCs should expand their passive investment offerings to capitalize on growing investor preference for low-cost, transparent index-based products.
Focus on financial education and goal-based investment guidance to tap the growing segment of first-time investors entering the market.
Develop specialized multi-asset products that offer inflation protection and portfolio diversification to meet evolving investor needs in volatile markets.
Page 11 of 12 | Based on AMFI data for the month ending March 31, 2025
Indian Mutual Fund Analysis - Conclusion & Key Takeaways - March 2025
Conclusion & Key Takeaways
Indian Mutual Fund Industry: March 2025 Snapshot
Industry Overview
₹65.7 Lakh Crore Total AUM
1,760 Schemes
234.5 Million Investor Folios
Key Insights & Takeaways
Equity Growth vs Debt Outflows
While equity schemes enjoyed robust inflows (+₹25,082 Cr), debt schemes faced significant outflows (-₹202,663 Cr), indicating shifting investor preferences toward growth assets in a rising market environment.
Passive Investment Revolution
Index funds and ETFs continued their growth with combined inflows of +₹14,148 Cr and 22 new product launches in March alone, indicating a shift in how Indian investors approach market exposure.
Goal-Based Investing
Solution-oriented schemes and Fund of Funds saw positive inflows despite broader market volatility, highlighting investors' increasing focus on specific financial goals rather than generic market returns.
Small & Mid Cap Surge
Small and mid-cap funds attracted combined inflows of +₹7,531 Cr, demonstrating investor optimism about growth potential in smaller companies despite their traditionally higher volatility.
For Original data please refer to AMFI website
Page 12 of 12 | Based on AMFI data for the month ending March 31, 2025
