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Equity funds witness outflow of Rs. 4.55 billion in April

Gold ETFs saw inflows of Rs. 500 million in April as the festival of Akshaya Tritiya, an occasion to buy the gold, led investors to invest in paper gold

May 17, 2012 4:27 IST | India Infoline News Service
According to the Association of Mutual Funds in India (AMFI) data, equity funds saw outflows of Rs. 4.55 billion in April which is the fourth consecutive month of outflows. In March, these funds witnessed an outflow of Rs. 1.96 billion, while in February, outflows stood at Rs. 26.8 billion and Rs. 4.56 billion in January.

ELSSs (equity linked savings schemes) witnessed outflows of Rs. 1.60 billion after seeing inflows of Rs. 2.67 billion in March. The anticipated change in tax rules through the direct taxes code that may come into effect next fiscal seems to be making investors concerned.

Other categories that saw outflows include balanced funds (Rs. 230 million), gilt schemes (Rs. 2.3 billion), other ETFs (Rs. 510 million) and fund of funds (Rs. 110 million).

Liquid/money market funds saw huge inflows of Rs. 757.52 billion as money pulled out in March found its way back. Income funds also saw inflows of Rs. 178.74 billion in April 2012 compared with outflows of Rs. 76.54 billion in March 2012. Gold ETFs (exchange traded funds) saw inflows of Rs. 500 million in April as the festival of Akshaya Tritiya, an occasion to buy the gold, led investors to invest in paper gold.

However, inflows into gold ETFs have slowed down a bit as indicated by March (Rs. 2.31 billion) and February (Rs. 850 million) figures. Currently there are 44 fund houses in India with total assets worth over Rs. 6.6 trillion.

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