Equity MFs witness outflows after 4 years amid Covid-19 uncertainty

Equity and hybrid mutual fund (MF) schemes saw net outflows last month, as a sharp rebound in stocks from March lows and the need for cash amid the Covid-19 pandemic prompted investors to pull out money in droves. Equity schemes witnessed outflows to the tune of Rs 3,500-4,000 crore in July, said sources in the know, basing their estimates on the data collected from 88 per cent of the industry. This is the first time in more than four years that money has made its way out from the category. June had seen inflows of Rs 240 crore. Hybrid schemes, which include the data for arbitrage .....

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