Flexi cap mutual funds pulled in a record Rs 10,147 crore in April 2026, even as broader equity inflows fell and SIPs softened amid market volatility. AMFI data shows the category rose 1% from March while still posting its highest monthly inflow ever. Experts say this is less about caution and more about comfort with fund managers’ flexible allocation across large, mid and small caps. Flexi cap also commands 26-32% of equity SIPs recently, with multiple funds delivering double-digit returns.
April saw a remarkable investor rush into Indian equity mutual funds, with six schemes each collecting more than Rs 7,000 crore in net inflows. The standout was Parag Parikh Flexi Cap Fund, which garnered Rs 11,983 crore and lifted assets under management to Rs 1.40 lakh crore. Nippon India Small Cap Fund followed with Rs 10,864 crore inflows. HDFC and Kotak also saw large capital additions, while SBI Equity Hybrid Fund climbed with Rs 7,061 crore.
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Equity mutual fund inflows dipped 5% to Rs 38,440 crore in April, but buying remained broad across categories. Flexi cap funds posted their highest-ever monthly inflow, while smallcap and midcap also attracted strong money. Sectoral and thematic funds, however, saw moderation as investors grew more selective amid market volatility.
In April, investors shifted away from large-cap mutual funds as inflows fell 16%. Mid- and small-cap funds, meanwhile, pulled in record money and posted stronger returns, even as market volatility persists. Retail preferences appear to be tilting toward higher-risk categories amid valuation concerns, raising the question of whether this rotation can last.
AMFI data shows equity mutual fund inflows fell 5% month-on-month in April, dropping to Rs 38,440 crore. After a relatively active period for markets, the decline points to a softer appetite among investors for new equity allocations, at least in the latest month’s flow data.
Despite markets being about 10% down, March SIP inflows hit a record roughly INR 32,000 crore, underscoring retail’s scale in Indian equities. But fund managers caution that if investors fail to see returns for another 18 months, many could reduce or withdraw SIPs—potentially reshaping demand and market sentiment.
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