SIP Inflows Hit Record ₹32,490 Crore as MF Assets Drop 5.1%

Monthly SIP contributions reached a record ₹32,490 crore in September 2026, AMFI data showed on October 12. Total mutual fund assets still fell 5.1% to ₹82.64 lakh crore, because debt funds recorded net outflows of ₹1.83 lakh crore.

September 2026 SIP Numbers at a Glance

The Association of Mutual Funds in India released its September data on Monday, October 12. Systematic investment plan contributions rose to ₹32,490 crore from ₹32,297 crore in August, a gain of ₹193 crore or about 0.6%.

The latest figure extends a steady climb. SIP contributions were ₹31,961 crore in July, ₹32,297 crore in August and ₹32,490 crore in September. The key figures from the release are listed below.

1. SIP contributions: ₹32,490 crore in September, against ₹32,297 crore in August
2. New SIPs registered: around 63 lakh during September
3. Assets held through SIPs: ₹17.86 lakh crore at the end of September
4. Industry assets under management: ₹82.64 lakh crore on September 30
5. Net equity fund inflow: ₹38,306.55 crore, against ₹29,328.62 crore in August

Why Industry Assets Fell Even as SIP Flows Rose

Mutual fund industry assets under management dropped 5.1%, from ₹87.08 lakh crore at the end of August to ₹82.64 lakh crore on September 30. The main weight on the total was debt funds, which recorded net outflows of ₹1.83 lakh crore during September.

Equity-oriented schemes moved in the opposite direction and continued to attract fresh money. That is why record SIP contributions and a falling asset total can appear in the same month’s data.

AMFI’s average AUM for September was about ₹87.09 lakh crore, compared with about ₹88.31 lakh crore for August. The monthly average therefore slipped by a smaller margin than the month-end figure, which captures the position on the last day of the month.

Despite the monthly fall, industry assets remain higher than a year ago. AUM stood at ₹82.64 lakh crore on September 30, 2026, which is 9.3% above the ₹75.61 lakh crore recorded on September 30, 2025.

Equity Funds Draw ₹38,306.55 Crore, Up 30.6% From August

Net inflows into equity mutual funds rose about 30.6% from August, when they stood at ₹29,328.62 crore. Open-ended equity schemes mobilised ₹74,831.96 crore during September and saw redemptions of ₹36,525.41 crore, which leaves the net figure of ₹38,306.55 crore.

Small-cap funds led the equity categories. The table below shows the largest net inflows and the two categories that recorded outflows.

Small-cap, mid-cap and flexi-cap funds together drew about ₹23,575 crore, which is roughly 61.5% of the net equity inflow for the month. Redemptions from open-ended equity schemes equalled about 48.8% of gross mobilisation, so nearly half of the money that came in was matched by money going out.

The two outflow categories were small by comparison. Contra funds lost ₹97.88 crore and ELSS tax saver funds lost ₹662.14 crore, and neither changed the overall direction of equity flows.

Exchange traded funds also drew money, with a net inflow of ₹15,501.40 crore in September. Small-cap funds alone attracted gross mobilisation of ₹13,025.13 crore against redemptions of ₹3,986.56 crore, which gives the net figure shown above.

Also Read: Zetwerk Sets ₹143-151 Price Band for ₹5,012 Crore IPO

SIP Contributions and AUM Measure Different Things

The September data is easier to read once the two measures are separated. SIP contributions show the money investors put into mutual funds through systematic plans during one month. They do not include withdrawals from the industry or any change in the value of holdings.

Assets under management, by contrast, reflect redemptions and changes in the market value of investments already held. A month can therefore show a higher SIP contribution and a lower AUM at the same time, as September 2026 did.

SIP assets of ₹17.86 lakh crore are a third figure and count the value of holdings built through these plans, rather than that month’s new contributions. Together, the three numbers describe monthly flow, accumulated holdings and total industry size.

The coming months will show whether monthly SIP contributions stay near the ₹32,000 crore mark. Changes in redemptions and market prices will also shape the industry’s total assets when AMFI publishes its October figures.