India’s mutual fund industry achieved a record asset under management of ₹75.36 lakh crore in September 2025, marking a 21.6% rise year-on-year. Systematic Investment Plan inflows also reached an all-time high, underscoring sustained retail participation. However, equity-oriented fund flows moderated as redemptions increased amid profit booking. Fund managers are seen maintaining balanced exposure across sectors while raising allocations to debt and money market instruments. Experts note that the mutual fund ecosystem continues to deepen with higher penetration in smaller towns and digital onboarding.