As per the data, debt mutual funds saw redemptions of Rs 68.03 billion by investors last month as compared to an outflow of Rs 70 billion in July.
Debt funds have seen net outflows in 4 out of 5 months in this fiscal so far.
With this, total outflow has reached to a little over Rs 527 billion so far in the current financial year (April-August).
Going ahead, Parikh said debt may continue to see outflows pending any RBI action in the currency and/or bond markets.
"Markets anticipate open market operations (OMOs) from RBI, which may provide some relief to yields and hence may lead to a reversal of outflows from debt mutual funds," he added.
Under OMOs, RBI buys certain government securities from the market, which thereby provides liquidity to the system.
Overall, total redemptions from mutual fund schemes stood at Rs 1.75 trillion last month. This included Rs 1.71 trillion from liquid funds, which invest in cash assets such as treasury bills, certificates of deposit and commercial paper for shorter horizon.
On the other hand, equity schemes attracted over Rs 77 billion.
At present, debt fund investment by retail investors constitute just 10 per cent, while the rest is equity.
Last month, Amfi Chief Executive N S Venkatesh had said that the industry body's new campaign will focus on the benefits of investing in debt funds, following the popular 'Mutual Funds Sahi Hai' drive.