BackInvestors pull out Rs60,000 cr from MF schemes in June
Net outflow in June was of `59,726 crore against a net inflow of `1,46,094 crore in the previous two months
Premium
Investors pulled out nearly ₹ 60,000 crore from various mutual fund (MF) schemes in June after putting in a staggering ₹ 1.5 trillion in the preceding two months.
As per the latest data available with the Securities and Exchange Board of India, (Sebi) there was a net outflow of ₹ 59,726 crore in June as against a net inflow of ₹ 1,46,094 crore in the previous two months.
In May, investors had pumped in ₹ 33,661 crore in various MF schemes, while in April they had put in ₹ 1.12 trillion in several such products.
At gross level, MFs mobilised ₹ 8.92 trillion in June, while there were redemptions worth ₹ 9.51 trillion as well. This resulted in a net outflow of ₹ 59,726 crore. This significant level of funds withdrawal has also led to the decline in the total assets under management of MFs that fell to ₹ 9.75 trillion as on 30 June, from a record ₹ 10.11 trillion in the previous month.
MF is an investment vehicle that pools funds from many investors for investing in securities such as stocks, bonds, money market instruments and similar assets.The strong outflow in MF schemes coincided with a gain in BSE’s benchmark Sensex by 5% last month.
Overall, during the current fiscal year so far, MF on a net basis have mobilised ₹ 86,369 crore as compared to ₹ 53,783 crore garnered in the entire 2013-14 fiscal.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
