Indian mutual-fund AUM ticks up despite first net outflow of fiscal year

India’s mutual-fund industry reported assets under management of about ₹75.61 lakh crore in September 2025—up slightly from ₹75.18 lakh crore in August. :contentReference[oaicite:2]{index=2} However, net flows turned negative for the first time this fiscal year, with an outflow of roughly ₹43,146 crore in the same month, even as systematic investment plan (SIP) contributions hit a record ₹29,361 crore.  The divergence reflects strong retail SIP inflows but caution elsewhere.