The inflows into equity mutual funds in May declined by 22 per cent to Rs 19,013 crore, compared to Rs 24,269 crore in April, data released by the Association of Mutual Funds in India (AMFI) said.

Among the 11 sub-categories, large-cap, mid-cap, and small-cap funds saw inflows drop by 53 per cent, 15 per cent, and 20 per cent, respectively, during the same period, it added.

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The data further said that the large-cap funds saw an inflow of Rs 1,250 crore in May, down from Rs 2,671 crore in April.

Mid-cap funds recorded inflows of Rs 2,808 crore in May, compared to Rs 3,313 crore last month, while the small-cap funds received Rs 3,214 crore in May, down from Rs 3,999 crore.

The overall net assets under management (AUM) of the mutual fund industry rose to Rs 72.20 lakh crore for the first time against Rs 69.99 lakh crore in April. Overall, the mutual fund industry saw net inflows of Rs 29,108.33 crore in May.

In May, the Systematic Investment Plan (SIP) route rose by 0.21 per cent to a fresh high of Rs 26,688 crore.

The data said the multi-asset allocation funds received Rs 2,926 crore in May, marking a 39 per cent increase from Rs 2,105 crore in April.

Balanced Hybrid/Aggressive Hybrid Funds and Conservative Hybrid Funds saw the lowest inflows at Rs 341 crore and Rs 89 crore, respectively.

Other schemes, including passive funds such as index funds and exchange-traded funds (ETFs), witnessed a sharp 73 per cent drop in monthly inflows, receiving Rs 5,525 crore in May versus Rs 20,229 crore in April.