Published on 10/09/2020 9:43:36 AM | Source: IANS

Net outflows from equity MFs at nearly Rs 4,000 cr: AMFI data

Posted in Mutual Fund Analysis| #Mutual Fund #Association of Mutual Funds in India

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Profit booking, along with high volatility, has led to a net outflow from equity mutual fund schemes in August on a sequential basis.

The data from the Association of Mutual Funds in India showed that net outflow stood at Rs 3,999.62 crore in August.

In July, the net outflows stood at Rs 2,480.35 crore.

The month-on-month slump comes on the back of profit booking.

"Despite persistent volatility and challenging economic scenario, retail investors continue to exhibit mature investment behaviour, reflected from record high retail AUMs, continued rise in SIP AUMs, SIP Folios, and significantly higher quantum of flows towards multi-asset allocation schemes during the month," said N.S. Venkatesh, Chief Executive, AMFI.

"On the debt side too, investors continue to repose trust, as seen from positive flows in money market, ultra-short and low duration funds. Overall, the Mutual Fund Industry continues to see steady rise, on a month-on-month and year-on-year AUMs on a consolidated basis."