New Delhi, Oct 10 : The Indian mutual fund industry continued to show steady growth in September, with total assets under management (AUM) rising to Rs 75.61 lakh crore from Rs 75.18 lakh crore in August, according to data released by the Association of Mutual Funds in India (AMFI) on Friday.

While net equity inflows moderated to Rs 30,405 crore in September from Rs 33,417 crore in August, the overall growth of AUM reflects continued investor confidence in mutual funds.

Among equity segments, large-cap funds received Rs 2,319 crore, mid-cap funds attracted Rs 5,085 crore, and small-cap funds garnered Rs 4,363 crore.

Hybrid funds continued to appeal to investors, with inflows of Rs 9,397 crore, while new fund offers raised Rs 1,959 crore during the month.

Sectoral and thematic funds and ELSS funds saw relatively lower inflows -- reflecting a more selective approach by investors.

On the debt side, liquid funds experienced outflows as investors reallocated their money to other avenues, while corporate bond and credit risk funds saw minor exits.

Exchange-traded funds (ETFs) continued to attract interest, drawing Rs 8,151 crore in September, up from Rs 7,244 crore in August.

Gold ETFs remained particularly popular, with inflows surging to Rs 8,363 crore from Rs 2,190 crore, highlighting the appeal of gold as a stable investment option amid market volatility.

Overall, the AMFI data suggests that while investors are adopting a cautious stance, mutual funds remain a preferred investment route, with a clear tilt towards ETFs and gold funds as relatively safer options in the current market environment.

Meanwhile, data compiled by Motilal Oswal Mutual Fund said that assets under management of passive mutual funds in India reached Rs 12.2 lakh crore in 2025, marking a 6.4-fold increase since 2019 and a compound annual growth rate of approximately 36 per cent.

/IANS