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finance | IST

Equity mutual funds witness outflows for second straight month, shows AMFI data

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The net equity outflows increased to Rs 4,029 crore from Rs 3,845.4 crore while credit risk outflows dropped to Rs 554 crore from Rs 670 crore in the month of August, data from the Association of Mutual Funds in India (AMFI) showed.

The net equity outflows increased to Rs 4,029 crore from Rs 3,845.4 crore while credit risk outflows dropped to Rs 554 crore from Rs 670 crore in the month of August, data from the Association of Mutual Funds in India (AMFI) showed. This was the second withdrawal since March 2016.
Except equity linked saving schemes (ELSS), focused fund and sectoral categories, all the other equity categories witnessed net outflow.
This could be largely attributed to investors booking profit given the surge in the equity markets, said Himanshu Srivastava, Associate Director - Manager Research, Morningstar India.
On debt side, the schemes reported outflows of Rs 3,908 crore against inflows of Rs 91,391.7 crore, according to the AMFI data. The liquid funds registered outflows of Rs 15,814 crore in August.
Hybrid funds, meanwhile, saw net ouflows of Rs 4819 crore in August, as against a net outflow of Rs 7,301.29 in July. Within the hybrid schemes, balanced hybrid or aggressive hybrid fund, whose mandate is to invest between 65-80 per cent of assets in equities, witnessed a net outflow of Rs 2,355 crore in August.
In the equity segment, large cap was the worst hit with an outflow of Rs 1,553 crore, followed by multi-cap ( Rs 1,157 crore), value fund (Rs 780 crore) and mid-cap (Rs 603 crore).
Credit risk funds saw an outflow of Rs 554 crore in the period under review, which was lower than Rs 670 crore in July, Rs 1,494 crore in June, Rs 5,173 crore in May and Rs 19,239 crore in April.
Total assets under management (AUM), meanwhile, were Rs 27.7 lakh crore in August, as against Rs 27.2 lakh crore in July. SIP Inflows came in slightly lower at Rs 7,791 crore against Rs 7,830 crore in July.
Equity mutual funds witnessed a total inflow of Rs 14,558.20 crore.
(With inputs from PTI)