The mutual fund industry reported net outflows of ₹64,021.17 crore in May 2026 against inflows of ₹3.22 lakh crore in April, mainly due to ₹96,948.51 crore outflows from debt schemes. Equity funds remained positive with inflows of ₹22,907.77 crore, led by flexi-cap, small-cap and mid-cap funds despite moderation in overall inflows.