Equity mutual fund inflows in 2025 are projected to decrease for the first time since 2020, attributed to lower market returns and less successful New Fund Offers (NFOs). Despite this dip, industry players remain optimistic about future growth, citing the continued rise in Systematic Investment Plan (SIP) inflows. While overall inflows have fallen from 2024's peak, SIPs are noted as a significant contributor to market stability and potential rebound.