Powered by: Motilal Oswal
9/10/2020 9:41:59 AM | Source: IANS
Hopes of impending revival slows fund outflow rate from equity MF schemes
News By Tags | #5303 #392
Hopes of impending revival slows fund outflow rate from equity MF schemes

Hopes of an impending economic revival has narrowed the rate of net outflows from equity mutual fund schemes in September.

The data from the Association of Mutual Funds in India (AMFI) showed that net outflow stood at Rs 734.40 crore in September compared with an outflow of Rs 4,000 crore in August.

In July, the net outflows stood at Rs 2,480.35 crore. Contributions through systematic investment remained flat at Rs 7,788 crore over the previous month in September.

According to N.S. Venkatesh, Chief Executive, AMFI: "Steady Y-o-Y as also Q-o-Q rise in average AUMs for the MF industry during the July to Sep tember 2020 quarter at Rs 27.74 lakh crore is reflective of continued confidence of growing number of investors in Mutual Fund as an asset class for fulfilling long term wealth creation objective."

"Preference to Large and Mid-Cap funds, Focused funds category, as also continued strong emergence of ETFs as the low-cost mutual fund investment avenue, have been the high points during September 2020. On the Debt side, investors have preferred to continue with their investment in Banking and PSU Fund, Short Duration Funds as also overnight funds."
 

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here