New Delhi, March 12 -- Even with the mutual fund industry riding a 48-month streak of positive equity inflows, net inflows cooled to Rs.29,303.34 crore in February-the lowest since Rs.18,888.36 crore posted in April 2024, according to the data released by the Association of Mutual Funds in India (Amfi). February's figure also saw a 26% slide from Rs.39,687.78 crore worth of inflows in January.

Industry participants noted that most inflows into mutual funds now come from slightly mature investors who have been investing for quite some time, are aware of market cycles, and have experienced them in the past.

"We observed a paradox of risk, as equity flows dropped by about 25% compared to January," said Anand Vardarajan, chief business offi...