Mutual Fund NFO Collections Fall 67% to ₹2,372 Crore in September

Key Takeaways:

• 22 open-ended new mutual fund schemes raised ₹2,372 crore in September, compared with ₹7,110 crore in August. 
• Equity NFO collections fell from ₹3,051 crore to ₹998 crore. 
• Including six domestic fund-of-fund launches, total mobilisation by the month's 28 new schemes reached ₹2,708 crore. 

Fund mobilisation through new open-ended mutual fund schemes fell sharply in September 2026, even as the industry continued to launch products across equity, debt, hybrid and passive categories. 

Twenty-two new open-ended schemes raised ₹2,372 crore during the month, according to AMFI data. That was around 67% below the ₹7,110 crore collected by 26 such schemes in August. 

The fall was spread across several actively managed categories. 

Five equity NFOs raised ₹998 crore in September, compared with ₹3,051 crore collected through six equity launches in August. 

Hybrid NFO mobilisation declined from ₹1,848 crore to ₹288 crore, while debt-oriented launches collected ₹266 crore compared with ₹1,647 crore in August. 

Index funds moved in the opposite direction. 

Six index-fund launches raised ₹669 crore, almost double the ₹355 crore mobilised through four index-fund NFOs in August. 

The largest individual NFO during September was the Tata CRISIL-IBX Financial Services 3-6 Months Debt Index Fund, which collected ₹544 crore. Among equity schemes, Invesco India Pharma and Healthcare Fund raised ₹403 crore, while Bank of India Value Fund collected ₹361 crore. 

There is an important distinction in the monthly total. 

The ₹2,372 crore figure covers 22 open-ended schemes. AMFI separately counted six domestic fund-of-fund launches that collected another ₹336 crore. 

Including those FoFs, a total of 28 new schemes mobilised ₹2,708 crore during September. 

The fall in NFO mobilisation did not reflect a broader decline in equity mutual fund flows. Existing equity schemes collectively attracted more than ₹38,000 crore of net inflows during September. 

The data therefore points specifically to lower fundraising by newly launched schemes rather than an industry-wide fall in equity mutual fund subscriptions.