Motilal Oswal Midcap, Axis ELSS among 5 funds losing over ₹600 crore AUM in December

Equity mutual funds recorded a sharp erosion in assets under management, with five schemes losing over ₹600 crore each. The decline impacted major funds including Motilal Oswal Midcap, Axis ELSS Tax Saver, UTI Flexi Cap, Kotak Arbitrage, and Quant Multi Cap. The AUM drop was reported for the month of December. The trend was observed across India’s equity mutual fund space, based on data compiled by ACE MF.

Several equity mutual funds saw a notable decline in assets under management (AUM) in December, reflecting cautious investor sentiment and market volatility during the month. Data shows that five equity-oriented schemes recorded an AUM drop of more than ₹600 crore each.

Out of 712 equity mutual fund schemes in December, as many as 410 funds reported a fall in their AUM, according to data compiled by ACE MF.

Motilal Oswal Midcap Fund registered the steepest decline among the lot. The midcap scheme saw its AUM fall by ₹1,122 crore on a monthly basis, dropping to ₹36,880 crore in December from ₹38,002 crore in November.

Axis ELSS Tax Saver Fund, the largest ELSS scheme by assets, also witnessed significant erosion. Its AUM declined by ₹820 crore, taking the total assets to ₹34,262 crore in December compared with ₹35,083 crore in the previous month.

UTI Flexi Cap Fund reported a monthly AUM decline of ₹672 crore. The fund’s total assets stood at ₹24,902 crore in December, down from ₹25,575 crore in November.

Among hybrid-style strategies, Kotak Arbitrage Fund saw its AUM fall by ₹620 crore during the month, settling at ₹72,153 crore in December versus ₹72,773 crore in November.

Quant Multi Cap Fund also joined the list, recording a monthly decline of ₹616 crore in AUM. The fund’s total assets dropped to ₹8,187 crore in December from ₹8,803 crore a month earlier.

The decline in AUM across multiple categories highlights profit-booking, market fluctuations, and selective investor withdrawals during December, even as overall participation in mutual funds remains broad.