Investors offload equity funds worth Rs. 29bn in May

India Infoline News Service | Mumbai |

Investor folios in equity mutual fund schemes were down to 32.9 million at the end of April 2013

Domestic investors redeemed around $500 million from equity mutual funds in the last eight months till May 2013.

Investors offloaded equity funds worth Rs. 29.1 billion due to volatility in the stock market, while buying Rs. 209.19 billion in debt funds in May, according to data released by the Association of Mutual Funds in India (AMFI) on Monday.

The redemption was the highest for equity schemes since September 2012 when net outflows from equity schemes topped Rs. 35 billion.

Investor folios in equity mutual fund schemes were down to 32.9 million at the end of April 2013 from 33.6 million in January 2013, according to SEBI data, a reflection of declining interest of retail investors in stocks.

Domestic institutional investors have redeemed Rs. 480.39 billion from India's stock markets since the beginning of this year, while foreign investors have loaded up on shares, buying Rs. 570.78 billion worth of stocks during the same period.



 

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