Investors continued to pull out money from gold exchange-traded funds (ETFs) and withdrew Rs 656 crore in the first ten months of the current fiscal, shrinking asset base of such products by more than eight per cent.
It also marked the third consecutive financial year of outflow from gold ETFs. The pace of outflow slowed, however, in 2015-16 compared with the preceding two fiscal years on account of sluggish equity market trends, experts said.
The gold ETFs witnessed a net outflow of Rs 656 crore in the first ten months (April-January) of the ongoing fiscal year, as compared to an outflow of Rs 1,290 crore in the same period of 2014-15 fiscal.
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