MUTUAL FUNDS · FLOW WATCH · MONTHLY
Where did money go this month? AMC × category flow heatmap - August 2026
₹29,329 crore of net new money entered equity mutual funds in August. Among the top 8 AMCs by AUM, HDFC MF and Nippon MF led, together accounting for 42% of the group's combined AUM change.
Nippon MF saw the largest AUM increase this month, concentrated in Small Cap (+₹4,120.9 Cr). The single sharpest AUM decline was ICICI Pru's Large Cap book (−₹766.2 Cr), though that doesn't necessarily mean Large Cap lagged overall - see the category totals below. Across all categories combined, HDFC MF saw the largest total AUM change (+₹9,097 Cr). Small Cap was the strongest category overall (+₹10,134.9 Cr), while Large Cap lagged (−₹1,044.4 Cr). Note: this heatmap measures AUM change (flow + market appreciation), not net flow in isolation - it isn't directly comparable to the net-flow totals below.
+₹29,329 Cr
EQUITY_NET_INFLOW
−₹9,809 Cr
DEBT_NET_FLOW
HDFC MF
TOP_AMC_BY_AUM_CHANGE
0
AMCs_WITH_AUM_DECLINE
CHART
AMC × Category AUM change - August 2026 (₹ Crore)
Nippon MF leads in Small Cap. ICICI Pru shows the sharpest Large Cap AUM decline. Measures AUM change (flow + market movement), not net flow in isolation.
Corrected 2026-10-13: AMFI's Aug-2026 report renamed several debt-duration and Sectoral/Thematic category labels, which this site's pipeline didn't recognize until fixed — the real numbers below replace the originally-published −₹4,023 Cr debt / ₹27,342 Cr equity. Debt's real net outflow was −₹9,809 Cr: Overnight Fund led (−₹30,654 Cr), partly offset by Liquid Fund (+₹19,934 Cr) and Money Market Fund (+₹11,735 Cr). Large Cap stayed net negative for a second straight month (−₹1,147 Cr, following July's −₹1,322 Cr), while Small Cap (+₹7,973 Cr) and Mid Cap (+₹6,989 Cr) kept leading equity inflows.
Frequently asked questions
Which AMC saw the largest AUM increase in August 2026?
Nippon MF saw the single largest AMC x category AUM increase in August 2026, concentrated in Small Cap (+₹4,120.9 Cr). Note this measures AUM change - flow plus market appreciation - for one specific AMC-category pair, not that AMC's total inflow across all categories combined. Across all categories combined, HDFC MF actually saw the largest total AUM change (+₹9,097 Cr), a different, broader measure than the single best AMC-category pair.
Did any AMC see a net AUM decline in August 2026?
Yes - the sharpest single AMC x category AUM decline in August 2026 was ICICI Pru's Large Cap book (−₹766.2 Cr). No AMC was net negative overall across all categories combined, though this specific AMC-category pair still declined. A single-cell decline doesn't necessarily mean that AMC or category lagged industry-wide - see the category totals for the broader picture.
How much net money flowed into equity mutual funds in August 2026?
Equity mutual funds saw +₹29,329 Cr in net inflow in August 2026, per AMFI's own monthly disclosure - this is a real net-flow figure (money in minus money out), independent of the AMC x category heatmap above, which measures AUM change (flow plus market appreciation) rather than flow alone. The two numbers aren't directly comparable: a category can show a large AUM increase purely from market gains even with modest or negative net flow, or vice versa.
What happened to debt fund flows in August 2026?
Debt mutual funds saw −₹9,809 Cr in net flow in August 2026. Debt fund flows are typically far more volatile month-to-month than equity, since they're heavily influenced by institutional treasury cash management (advance-tax outflows, quarter-end parking) rather than retail sentiment - a sharp swing in either direction in a single month is common and doesn't necessarily signal a shift in retail investor behavior the way an equity flow swing might.
Which category led AUM growth in August 2026?
Small Cap led with the highest total AUM change across all tracked AMCs in August 2026 (+₹10,134.9 Cr), while Large Cap lagged (−₹1,044.4 Cr). These are AUM-change totals (flow plus market appreciation) summed across the 8 AMCs tracked here, not the full industry - a category's true industry-wide ranking could differ once every AMC, not just these 8, is included.