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Equity funds? April outflows at Rs. 455 cr

Equity funds saw outflows of R455 crore in April, the fourth consecutive month of outflows, shows data from Association of Mutual Funds in India (Amfi).

Equity funds saw outflows of R455 crore in April, the fourth consecutive month of outflows, shows data from Association of Mutual Funds in India (Amfi). This compares with R196 crore of outflows in March, R2,680 in February and R456 crore in January. Since August 2009, when entry loads were withdrawn by capital market regulator Sebi, equity schemes have seen inflows in only twelve months. The BSE Sensex slid about 0.5% in April.

ELSS Equity schemes saw outflows to the tune of R160 crore after seeing inflows of R267 crore in March. The anticipated change in tax rules through the Direct Taxes Code that may come into effect next fiscal seems to be playing on the minds of investors.

Other categories that saw outflows include balanced funds (R23 crore), gilt schemes (R230 crore), Other ETFs (R51 crore) and fund of funds (R11 crore).

Liquid/money market funds saw huge inflows of R75,752 crore as money pulled out in March found its way back. In March the segment had seen outflows of R76,537 crore in March as tight liquidity and the need to balance the books for the fiscal year-end prompted banks and corporates to pull out money.

Income funds also saw inflows to the tune of R17,874 crore compared with outflows of R7,654 crore in March. Gold ETFs saw inflows of R50 crore as the festival of Akshaya Tritiya, an occasion to buy the yellow metal, led investors to invest in paper gold.

However, inflows into gold ETFs have slowed down a bit as indicated by March (R231 crore) and February (R85 crore) figures.

Currently there are 44 fund houses in the country with total assets worth over R 6.6 lakh crore, according to the data from Amfi.

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First published on: 12-05-2012 at 01:58 IST
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