By:  Naval Kagalwala, COO and Head of Products at Shriram Wealth Ltd.

“The Indian MF industry continued its progress towards reaching the US$1 trillion AUM mark, ending October 2025 with an AUM Rs.79.88 lakh crs, a growth of Rs.4.26 lakh crs over Sep 2025. This is a 10x jump over the Rs.0.43 lakh crs growth in month of September 2025 (as compared to August 2025) . However, about 68% of the net inflow of Rs.2.15 lakh crs this month is part of Overnight, Liquid, Ultra Short Duration and Money Morket Funds. We expect some of this to exit closer to the Advance Tax payment due date. Despite the volatility in Gold & Silver prices during the month, Gold and Other ETFs remained strong with net inflows of approx. Rs.13,925 crs, though marginally lower than Sep net inflow of Rs.16,514 crs. Gross flows to Index Funds, Gold & Other ETFs collectively was Rs.42,113 crs. The SIP book continues to be strong with an all-time high inflow of Rs.29,529 crs in October.”