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MF flows holding up well despite market volatility

ICICIdirect Research 11 Apr 2025 DISCLAIMER

Inflows including NFOs during March was down to Rs 25000 crore Vs Rs 29000 crore in February.

Ex-NFOs, inflows were at Rs 25000 crore Vs Rs 27000. The decline was largely due to almost zero inflows in thematic funds. Ex-thematic funds, inflows were higher at Rs 25000 vs 23500 crore.

Inflows ex-thematic, ex-NFOs were Rs 24500 Vs Rs 23000. However, considering lowering number of days in February, March number should be interpreted as at similar levels like last month.

Inflows were higher in Smallcap Funds (4100 vs 3400), Flexicap Funds (5600 vs 5100), Multicap Funds (2750 vs 2100).


Inflows were at similar level like last month in Large & Midcap Fund (2700 vs 2700), Midcap (3400 vs 3400), Focused (1400 vs 1300).

Inflows were lower in Laregcap Funds (2300 vs 2900),
ETFs saw higher inflows at Rs 11000 crore Vs Rs 3800 in February.


SIP inflows remain strong, just marginally down (third month in a row, 530 crore down in 3 months) at Rs 25926 crore Vs Rs 25999 crore in Feb Vs Rs 26400 crore in Vs 26500 in Dec.

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