The outflow has pulled down the assets under management of the 44-players mutual fund industry to Rs 22.26 trillion in March-end from Rs 27.23 trillion in February-end.
According to the data, inflows into equity and equity-linked open-ended schemes was at Rs 11,723 crore, while an outflow of Rs 238 crore was seen from close ended funds, taking the net inflow to Rs 11,485 crore. This was much higher than a net infusion of Rs10,760 crore was seen in February.
This is the highest level since March 2019, when equity schemes attracted an inflow to the tune of Rs 11,756 crore. The inflow is well spread among the categories of funds such as large-cap, mid-cap, small-cap and multi-cap.
Multi-cap, large-cap, ELSS (equity-linked saving schemes) and mid-cap saw inflows of Rs 2,268 crore, Rs 2,060 crore, Rs 1,551 crore and Rs 1,233 crore, respectively during the month under review. Besides, gold exchange-traded funds (ETFs) saw an outflow of Rs 195 crore last month, after seeing the highest inflows of Rs 1,483 crore in February.
Interestingly, investments into gold ETFs
dropped in March after rising for the fourth straight month.