Equity Mutual Funds See Outflows For The Third Straight Month In Sept

Equity mutual funds witnessed an outflow of Rs 734 crore in September, the third consecutive monthly withdrawal, mainly due to pull-out from multi-cap space.

Besides, investors pulled out over Rs 51,900 crore from debt mutual funds last month compared to Rs 3,907 crore in August, data from the Association of Mutual Funds in India (AMFI) showed on Thursday.

Overall, the mutual fund industry witnessed a net outflow of a little over Rs 52,000 crore across all segments during the period under review, as against Rs 14,553 crore in August.

This outflow could be attributed to withdrawals from liquid, equity and hybrid schemes.

As per the data, the outflow from equity and equity-linked open-ended schemes was at Rs 734.40 crore in September, compared to Rs 4,000 crore in August and Rs 2,480 crore in July.

Equity Mutual Funds saw their first outflow in over four years in July on profit-booking.

Besides, investors are opting for safe-haven assets with gold exchange-traded funds (ETFs) witnessing an inflow of Rs 597 crore.

The assets under management (AUM) of mutual fund industry rose to Rs 26.86 lakh crore at September-end from Rs 27.5 lakh crore at August-end.