Investors pull out Rs 60,000 cr from MF schemes in June

Tags: Mutual Funds
Investors pulled out nearly Rs 60,000 crore from various mutual fund schemes in June after putting in a staggering Rs 1.5 lakh crore in the preceding two months.

As per the latest data available with the Securities and Exchange Board of India, there was a net outflow of Rs 59,726 crore in June as against a net inflow of Rs 1,46,094 crore in the previous two months.

In May, investors had pumped in Rs 33,661 crore in various mutual fund (MF) schemes, while in April they had put in Rs 1.12 lakh crore in several such products.

At gross level, MFs mobilised Rs 8.92 lakh crore in June, while there were redemptions worth Rs 9.51 lakh crore as well. This resulted in a net outflow of Rs 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 Rs 9.75 lakh crore as on June 30, from a record Rs 10.11 lakh crore 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 per cent last month.

Overall, during the current financial year so far, MF on a net basis have mobilised Rs 86,369 crore as compared to Rs 53,783 crore garnered in the entire 2013-14 fiscal.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • India needs to think quick and act fast to crank up its crude reserves

    With China overtaking the US in crude oil imports in April with imports at 7.4 million barrels per day, its thirst for building reserves and proving i

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

Politics has to be about problem solving

One of the most common sights every morning at major ...

Kuruvilla Pandikattu SJ

Start meditating to preserve grey matter

Since 1970, life expectancy around the world has risen dramatically, ...

Gautam Gupta

It’s ethnic wear all the way in Indian fashion

India is one of the most diverse countries in the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture