Within equity categories, trends were mixed. Large-cap funds attracted higher inflows of ₹2,005 crore versus ₹1,567.4 crore in December.
In contrast, mid-cap funds saw inflows decline to ₹3,185 crore from ₹4,176 crore, while small-cap funds received ₹2,942 crore against ₹3,824 crore in the previous month. Sectoral/thematic funds logged marginally higher inflows of ₹1,043 crore compared with ₹946 crore in December.
Gold ETFs surge to record levels
Gold exchange-traded funds witnessed a sharp jump in demand, drawing ₹24,040 crore in January compared with ₹11,647 crore in December, more than doubling month-on-month. The scale of inflows marked one of the strongest months for gold ETFs in recent history.
Other ETFs — a category that includes products such as silver and index funds — also saw higher participation, recording ₹15,006 crore of inflows versus ₹13,199.44 crore in December.
Debt fund outflows persist
In the fixed-income segment, outflows continued in several categories. Credit risk funds saw outflows of ₹126 crore, lower than ₹172.61 crore in December. Corporate bond funds experienced larger withdrawals of ₹11,473 crore versus ₹7,419.51 crore in the prior month.
However, dividend yield funds turned positive, posting inflows of ₹48 crore after an outflow of ₹254.30 crore in December.
Hybrid funds gain traction
Hybrid funds recorded a strong month-on-month increase in investor interest, receiving ₹17,356 crore in January compared with ₹10,755.57 crore in December.
ELSS, NFOs and overall industry size
Tax-saving ELSS funds continued to see redemptions, with outflows of ₹594 crore versus ₹718 crore in December. New Fund Offers (NFOs) collected ₹1,939 crore, down sharply from ₹4,074 crore in the previous month.
At an industry level, mutual fund AUM rose to ₹81.01 lakh crore in January from ₹80.23 lakh crore in December, reflecting overall market movement and fresh inflows across categories.
