India’s large-cap mutual funds attracted the highest inflows among all fund categories in June despite delivering the weakest year-to-date performance, according to a report by Vallum Capital.
The report highlighted a divergence between investor behaviour and market performance, with systematic investment plan (SIP)-driven inflows continuing to support large-cap funds.
Large-cap funds received inflows of ₹9,656 crore during June despite declining 5.4 per cent so far this year.
The report attributed the strong inflows primarily to steady SIP investments.
In comparison, mid-cap funds recorded the sharpest monthly increase in inflows, rising by more than ₹1,336 crore, while small-cap funds attracted ₹4,508 crore and delivered the strongest year-to-date return of 9.3 per cent.
Healthcare emerged as the best-performing sector in 2026, generating nearly 15 per cent returns so far this year.
Investors continued to favour hospitals, diagnostics and pharmaceutical companies amid an uncertain macroeconomic environment, resulting in an additional ₹294 crore of inflows into the sector during June.
Overall net asset-level inflows moderated to ₹48,826 crore in June from ₹56,886 crore in May, a decline of 14 per cent month-on-month.
Equity inflows strengthened to ₹48,914 crore, increasing by ₹3,215 crore over the previous month, even as average returns remained modest at 1.8 per cent.
Fixed-income and money market funds recorded net outflows of ₹51,489 crore and ₹57,277 crore, respectively.
Precious metals attracted ₹8,678 crore in inflows despite negative returns, while real estate gained 14.4 per cent in July.
Private banking funds received ₹802 crore in fresh inflows, and technology funds continued to attract investors despite a 17.3 per cent decline this year.
In contrast, the consumption segment remained under pressure, with FMCG down 12.4 per cent year-to-date.
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