Equity mutual funds see outflows for 8th straight month in Feb

Equity mutual funds witnessed an outflow of Rs 10,468 crore in February, making it the eighthconsecutive monthly withdrawal, with flexi cap category accounting for most of the outflow.

However, investors put in Rs 1,735 crore from debt mutual funds last month after pulling out Rs 33,409 crore in January, data from the Association of Mutual Funds in India showed on Tuesday.

Overall, the mutual fund industry witnessed a net outflow of Rs 1,843 crore across all segments during the period under review, compared to Rs 35,586 crore in January.

Despite the outflow,asset under management (AUM) of the mutual fund industry rose to Rs 31.64lakh crore in February-end from Rs 30.5 lakh crore in January-end.

As per the data, outflow from equity and equity-linked open ended schemes was at Rs 10,468 crore in February compared to Rs 9,253 crore in January.

Barring multi cap, large & mid-cap and focussed fund categories, all the equity schemes have seen outflow last month. The newly created flexi cap category saw maximum outflow of Rs 10,431 crore.

Overall, equity schemes had witnessed an outflow of Rs 10,147 crore in December,Rs 12,917 crore in November, Rs 2,725 crore in October, Rs 734 crore in September, Rs 4,000 crore in August and Rs 2,480 crore in July, which was their first withdrawal in over four years. Prior to this, such schemes had attracted Rs 240.55 crore in June.

Apart from debt funds, Gold exchange traded funds (ETFs) witnessed an inflow of Rs 491 crore last month, compared to Rs 625 crore in January.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel