Inflows in equity mutual funds dipped 16 per cent month-on-month to ₹18,917 crore in April, data from the Association of Mutual Funds in India (AMFI) showed.

Inflows in large-cap funds declined to ₹357 crore even as small-cap funds, which had witnessed outflows in March, saw inflows of ₹2,208 crore.

Equity flows were positive for the 38th consecutive month.

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Flows from the monthly systematic investment plans touched a new high of ₹20,371 crore despite the KYC-related issues faced by the industry last month. AMFI said 93 per cent of investors had a registered or validated KYC status. The rest either had no KYC or it was on hold.

The other categories that saw high inflows were arbitrage funds (₹13,805 crore) and thematic funds (₹5,166 crore).

AMFI said it has constituted a committee to set up the institutional framework for front-running within a month.

Most debt categories saw inflows, with gilt funds (₹5,210 crore) and corporate bond funds (₹2,992 crore) seeing robust flows.

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