India Non-Lending Financials: MF Active Equity Netflows tracker

Research evidence excerpt

India Non-Lending Financials: MF Active Equity Netflows tracker

Global Research

17 July 2026ab

India Non-Lending Financials Equities

Asia Pacific Ex. JapanMF Active Equity Netflows tracker

Financial

Neeraj Toshniwal

Mutual Funds Active Equity Net Inflows Monitor Analyst

Our monthly active equities net inflows tracker leverages data from Equity and Hybrid neeraj.toshniwal@ubs.com

categories to systematically analyze monthly flow trends, adjusted for mark-to-market +91-22-6155 6058

(MTM) movements. For hybrid funds, we exclude Arbitrage fund flows due to their

tactical nature and conservative hybrid funds due to their higher debt allocation, from

the scope of our analysis. This approach reveals that estimated flows have generally

aligned (+/- 1% average over the past year), with occasional larger deviations (<5%)

observed in certain months. Our analysis encompasses active equity inflows across

segments, a detailed assessment of the top ~90% of active equity scheme flows (Fig. 2-

3), trends in active equity AUM market share (Fig. 28) for top 15 asset managers in India,

distribution of flow market share within categories (Fig. 26), and a comparative analysis

of flow versus AUM market share (Fig. 29). Furthermore, we evaluate performance by

categorizing asset managers into top quartiles across several key categories.

What do industry statistics show about net active equity flows in June 2026?

Net active equity inflows, per AMFI data, stood at Rs360bn (+30% MoM) in June 2026,

while our estimated (Fig. 1) June 2026 flows were at Rs368bn (+28% YoY), reflecting a

2.4% variance from actual flows. The rebound in inflows is attributed to better market

environment and elevated inflows in select categories. Top schemes contributed 92% of