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Below the Perspective on AMFI Data 10th June 2025 by Sanjay Agarwal, Senior Director, CareEdge Ratings

‘The mutual fund industry’s assets under management rose above the Rs 70 lakh crore mark increasing by 3.14% m-o-m to Rs.72.2 lakh crore buoyed by MTM gains and continuous inflows in equity mutual fund space for the last 51 months. The outflow in debt fund category particularly from liquid funds and overnight funds was likely a result of a combination of factors, including seasonal tax related withdrawals, portfolio rebalancing and interest rate cut expMectations. Despite this drawdown, overall open-ended debt funds AUM stood at Rs.17.54 lakh crore roughly at similar levels when compared with April 2025. Open-ended Equity Mutual funds grew by 4.83% primarily due to inflows and MTM gains as compared to April 2025. Broadly all equity categories registering net inflows for the month apart from ELSS funds, Dividend Value Fund and Value Fund / Contra Fund. However, net inflows declined by 2.17% sequential compared to April 2025 hitting a one year low. Additionally, during May 2025, 19 open-ended NFOs were floated which collectively mobilised Rs.0.04 lakh crore with sectoral/thematic funds accounting for 43% share. Given the ongoing international trade tariffs negotiations and the interest rate scenario, investors' willingness to invest in such conditions and the attractiveness of alternate deployment sources will be a key monitorable for the next two to three months.’’

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