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Below the Perspective on AMFI Data by Anoop Vijaykumar, Head of equity, Capitalmind MF 

‘‘May’s AMFI numbers tell a story of consolidation rather than concern. Even with a 22 percent month-on-month dip, Rs.19,000-plus crore of fresh equity money is the 51st straight month of positive flows—a remarkable show of investor discipline since March 2021.What’s changed is the texture of that flow. Large-cap allocations have cooled sharply as Investors are recalibrating their risk-reward expectations. The relatively modest decline in small and mid-cap inflows suggests that the appetite for growth stories remains intact, though tempered by valuation consciousness. The pause should help earnings catch up with prices and create healthier entry points. Debt-fund outflows of about ?16,000 crore look tactical—likely driven by treasury cash-management around quarter-end and an RBI policy overhang—rather than a structural shift away from fixed income. What’s most encouraging is the record AUM crossing Rs 72 lakh crore, a fresh peak that underlines the long-term migration of household savings into markets. For investors, the takeaway is clear: stick to systematic plans, rebalance rather than chase performance, and let market volatility work for you instead of against you.”

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