Equity Inflows Moderate in April; Mutual Fund Equity AUM Hits Record Rs 39.1 Trillion: Motilal Oswal Financial Services
The mutual fund industry’s total assets under management (AUM) rose 11.1% month-on-month to Rs81.9 trillion in April 2026, while equity AUM increased 11.4% month-on-month to an all-time high of Rs 39.1 trillion, according to Motilal Oswal Financial Services’ latest Fund Folio – Indian Mutual Fund Tracker report.
The report noted that net equity inflows moderated to Rs 431 billion in April 2026 from Rs 485 billion in March 2026. Sales of equity schemes declined 14.3% month-on-month to Rs 878 billion, while redemptions declined 16.9% month-on-month to Rs 447 billion.
Systematic Investment Plan (SIP) contributions stood at Rs 311.2 billion in April 2026, down 3% month-on-month and up 16.8% year-on-year.
The report highlighted that the Nifty gained 7.5% month-on-month in April 2026, marking its highest monthly gain since January 2024.
Sectorally, mutual funds increased exposure towards Capital Goods, NBFC – Lending, Utilities, Retail, NBFC – Non Lending, Chemicals, Real Estate, Logistics, and EMS during April 2026. In contrast, allocation towards Technology, Private Banks, Healthcare, Oil & Gas, Automobiles, Telecom, Insurance, and Cement moderated on a month-on-month basis.
Capital Goods allocation rose to 7.8% in April 2026, a 17-month high, while Utilities allocation increased to 3.9%, a 19-month high. NBFC – Non Lending allocation climbed to an all-time high of 2%.
Technology allocation declined to 6.7%, an eight-year low, while Private Banks allocation moderated to 17.3%.
The report further stated that the sectors where mutual fund ownership versus the BSE-200 was at least 1% lower included Oil & Gas, Consumer, Utilities, Private Banks, and PSU Banks. Sectors where mutual fund ownership was at least 1% higher included NBFC – Non Lending, Healthcare, Consumer Durables, Capital Goods, and Chemicals.
Among stocks, the maximum increase in value month-on-month was seen in ICICI Bank, SBI, Larsen & Toubro, HDFC Bank, Reliance Industries, Axis Bank, Kotak Mahindra Bank, Bharti Airtel, Bajaj Finance, and Eternal.
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