MFs offload Rs. 237 billion in debt schemes in July

India Infoline News Service | Mumbai |

The debt market witnessed a net inflow of Rs. 27 million till July 2013

Mutual fund investors sold about Rs. 237.4 billion in debt schemes in July 2013, while they invested Rs. 649.47 billion in debt schemes in June, according to SEBI (Securities and Exchange Board of India) data.

The debt market witnessed a net inflow of Rs. 27 million till July 2013, the data added.

Foreign institutional investors made a net outflow of more than Rs. 120 billion from debt market in July.

According to market experts, asset management companies (AMCs) have been concentrating on debt schemes because of volatility in stock market. These schemes offer better returns as against bank fixed deposits and comparatively carry lower risk than equity mutual funds.

At the end of June, there were a total of 1,184 schemes under mutual funds, of which 749 schemes (66% of the overall schemes) were debt oriented while 346 schemes (29% of total schemes) were equity related.

 

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