Parag Parikh, HDFC Flexi-Cap Schemes Lead Equity Fund Inflows In April

Retail investors continued investing in equity mutual funds during the recent market decline, with flexi-cap schemes emerging as the biggest recipients of fresh money in March and April 2026.

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Data released by AMFI and compiled by Elara Securities showed Parag Parikh Flexi Cap Fund received the highest inflow among individual equity schemes during the two-month correction phase. The scheme collected ₹7,549 crore, contributing nearly 10% of cumulative inflows among the top 35 equity funds. HDFC Flexi Cap Fund followed with inflows of ₹5,473 crore during the same period.

Mid-Cap And Small-Cap Funds Also Attracted Flows

Several mid-cap and small-cap schemes continued to receive investor money despite market volatility. The Bandhan Small Cap Fund witnessed an investment of ₹3,416 crore, whereas HDFC Mid Cap Fund saw ₹3,072 crore.

Nippon Mid Cap Fund attracted an investment of ₹1,798 crore, and the Kotak Midcap Fund was invested with ₹1,437 crore.

Among small-cap schemes, Nippon Small Cap Fund saw inflows of ₹1,484 crore. HDFC Small Cap Fund attracted ₹1,295 crore, while Invesco India Smallcap Fund received ₹1,055 crore.

The data showed inflows remained concentrated in a relatively small set of schemes. The top 35 equity funds together accounted for nearly 77% of overall inflows during the market correction period.

Long-Term Returns Continued To Influence Investor Preference

Funds that showed high performance in the longer term still received good participation from individual investors.

The HDFC Mid Cap Fund, the Kotak Mid Cap Fund, and the Nippon India Growth Mid Cap Fund have shown three-year CAGR returns of above 23%.

The flexi-cap category has shown significant gains by two funds namely HDFC Flexi Cap Fund and Parag Parikh Flexi Cap Fund with three-year CAGR returns between 14% to 15%.

The SBI Contra Fund has shown a CAGR return of 17.7% for five years, and the Kotak Contra Fund has provided a three-year CAGR return of 17.6%.

Among other schemes that recorded significant investments were the Kotak Multicap Fund with ₹1,890 crore, the Nippon India Multi Cap Fund with ₹1,856 crore, ICICI Prudential India Opportunities Fund with ₹1,842 crore, and ICICI Prudential Value Fund with ₹1,812 crore.

Equity Mutual Funds Extend Monthly Inflow Streak

AMFI data showed equity mutual funds registered positive inflows for the 62nd consecutive month in April 2026.
Total inflows into equity schemes stood at ₹38,440 crore during the month, compared with ₹40,450 crore recorded in March. Flexi-cap funds led category-wise collections with inflows of ₹10,148 crore.

Small-cap funds received ₹6,886 crore in April, higher than ₹6,264 crore in March. Mid-cap funds attracted ₹6,551 crore during the month.

Elara Securities noted that domestic liquidity flows continued to support equity markets during correction phases, helping sustain investor participation despite volatility across broader indices.