India’s mutual fund industry witnessed a moderation in investor inflows during April, with equity-oriented schemes attracting net investments of Rs. 38,440 crore, according to data released by Association of Mutual Funds in India. The figure represents a 5 per cent decline compared with the previous month, signaling a cautious shift in retail investor sentiment amid evolving market conditions. Systematic Investment Plan contributions also softened, falling to Rs. 31,115 crore from Rs. 32,087 crore recorded in March.