Gold ETFs, which have been seeing continuous inflows since December 2011, witnessed Rs 41 crore of net outflows last month.
Mutual fund investors seem to be buying at every dip in the market. After four months of continuous outflows since January, equity mutual funds attracted net inflows to the tune of Rs 506 crore in May 2012. The BSE Sensex shed 6% in May to 16,219 from 17,302.
The last time equity funds clocked net inflows (Rs 360 crore) was in December 2011 when the BSE Sensex fell 6% from 16,483 to 15,455. In February, when the Sensex was up 3%, equity funds saw the highest redemptions of Rs 2,680 crore.
“We have been asking investors to invest when the valuations are attractive. People have redeemed from equity funds when the markets were high and are buying when markets dip. It’s a good trend. Investors who had invested in gold a year back have made good returns so they might have pulled out. The price level of gold is not giving comfort to investors,” said a sales head of a large fund house.
Gold ETFs which have been seeing continuous inflows since December 2011, witnessed Rs 41 crore of net outflows in May.
The industry’s net inflows across all categories fell 71% to Rs 26,742 crore in May 2012 from Rs 92,746 crore in April largely due to lesser inflows in income and liquid funds. Barring gilt, ELSS and gold ETFs, all other categories recorded net inflows. Assets under management of the industry went up marginally by 3% from Rs 6.80 lakh crore in April to Rs 6.99 lakh crore in May.
Sales
from new schemes stood at Rs 4,429 crore. Taurus Banking and Financial Services
Fund, the only equity NFO in May, collected Rs 18 crore while income schemes (both
open end and close end) collected Rs 4,411 crore.
