Equity mutual fund inflows dropped 19% in October to ₹24,690 crore even as the overall mutual fund industry AUM reached an all-time high of ₹79.87 lakh crore. Analysts suggested that investors turned cautious amid global volatility and intermittent domestic market corrections. Although inflows moderated, SIP participation remained steady, highlighting continued retail confidence. Fund managers noted rotational shifts from equity to hybrid and passive categories as investors sought diversification. The strong AUM milestone underscores long-term participation despite short-term moderation in equity inflows.