Large and Mid-Cap Mutual Fund Inflows Nearly Double in October, Shows AMFI Data

Large-and-mid-cap mutual funds recorded net inflows of ₹8,484.23 crore in October 2026, nearly double the ₹4,271.22 crore received in September, according to data released by the Association of Mutual Funds in India (AMFI) on Wednesday, November 11.

The category recorded a 98.6% increase in monthly inflows, making it the largest recipient of net investments among equity mutual fund categories in October. This came as small-cap, mid-cap and flexi-cap mutual funds received lower investments compared with the previous month.

Small-cap mutual fund inflows declined 29.1% to ₹6,407.50 crore from ₹9,038.57 crore in September. Mid-cap funds recorded a sharper decline of 37.5%, with net inflows falling to ₹4,892.62 crore from ₹7,834.84 crore.

Flexi-cap mutual funds also saw lower inflows at ₹4,979.95 crore, compared with ₹6,701.80 crore in September, a decline of nearly 26%.

Large-cap funds, however, recorded a 20.1% increase in net inflows to ₹1,032.39 crore from ₹859.47 crore in the previous month.

Overall equity mutual fund inflows fell nearly 14% to ₹32,993.64 crore in October from ₹38,306.55 crore in September.

What Does the Latest AMFI Data Show?

The October figures highlight five developments across equity mutual fund categories.

• Large-and-mid-cap funds lead equity inflows: These schemes attracted ₹8,484.23 crore in October, up 98.6% from September. The category moved ahead of small-cap funds, which had recorded the highest inflows in the previous month.

• Small-cap mutual fund inflows fall 29%: Net investments declined to ₹6,407.50 crore from ₹9,038.57 crore in September, a reduction of ₹2,631.07 crore. Despite the decline, small-cap funds continued to receive positive net inflows.

• Mid-cap funds record a sharper decline: Inflows fell 37.5% to ₹4,892.62 crore from ₹7,834.84 crore in September. This was a reduction of ₹2,942.22 crore, although investments continued to exceed redemptions.

• Large-cap funds attract higher investments: Net inflows rose 20.1% to ₹1,032.39 crore from ₹859.47 crore. However, the category received less money than large-and-mid-cap, small-cap, mid-cap and flexi-cap funds.

• Flexi-cap fund inflows decline nearly 26%: These schemes received ₹4,979.95 crore in October, compared with ₹6,701.80 crore in September. Flexi-cap funds can invest across large-cap, mid-cap and small-cap stocks without a fixed allocation to each category.

The changes in fund flows came during a month when broader market indices recorded losses. The Nifty Smallcap 100 declined around 4.1% in October, while the Nifty Midcap 100 fell approximately 3.4%. In comparison, the Nifty 50 gained around 1.9%.

Under SEBI’s mutual fund classification rules, large-and-mid-cap funds must invest at least 35% of their assets in large-cap stocks and another 35% in mid-cap stocks.

The AMFI data measures net investments after accounting for redemptions. While the figures show which categories attracted more or less money during October, they do not establish the reasons for investors’ allocation decisions.

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