SIPs face the worst February in 5 years

Monthly contributions into mutual fund schemes through systematic investment plans (SIPs) dipped 3.7% to ₹29,845 crore in February 2026 as against ₹31,000 crore in the previous month according to data from Association of Mutual Funds of India (AMFI) and CMIE. 

“The marginal moderation compared to recent months is primarily due to February being a shorter month, with some end-of-month SIP installments typically getting processed in early March,” said Venkat Chalasani, CEO of AMFI in a statement.

Also Read | Equity MF inflows slid 14.3% on geopolitics in January: AMFI

 Comparing February month contributions on a year on year basis, monthly contributions fell the  fastest since February 2019, when SIP contributions dipped 6%. The dip also comes after contributions in January 2026 stagnated at ₹31,002 crore. Moreover the number of discontinued SIPs increased for the third consecutive month. 

SIPs, which is one of the most sought after route to invest in mutual funds, reduced by this quantum after slowing performance in many equity oriented schemes. The trend shows that investors who were generally called “mature” and “disciplined” are showing signs of caution with equities undergoing intense corrections and gold rally plateauing.

Net inflows into Gold Exchange Traded Fund (ETF) fell 78% to ₹5249.5 crore 10, March, after a two month continued investor inflow into the category. The net inflow into the category of investment, which tracks gold prices, was up as high as ₹24,040 crore as of January 2026. 

 “Gold ETFs, which saw record inflows in January 2026, appear to have moderated, suggesting that some of that defensive positioning is unwinding,” said Nitin Agrawal, CEO, Mutual Funds, InCred Money. 

The overall inflows in all open-ended schemes fell 39% to ₹94194.01 crore in the reporting month as against ₹1,5,6508.12 crore in the previous month. To be sure, overall inflows have been reducing for seven consecutive months now . although February 2026 was the slowest pace of decline.