Equity funds see consecutive net outflow for the third time since June
Equity mutual funds recorded the highest net outflow of Rs 2096 crore in August as investors rushed to book profits. The BSE Sensex inched up 1% in August and had hit a high of 17,973 on 23rd August before closing at 17,429 at the end of the month. In July, equity funds had seen a net outflow of Rs 804 crore.
Equity fund asset base fell from Rs 1.55 lakh crore in July to Rs 1.53 lakh crore in August.
Among the new fund launches, DSP BlackRock US Flexible Equity Fund collected
Rs 26 crore while 23 new close-ended schemes mopped up Rs 1,606 crore. The
combined net inflows fell 48% to Rs 19807 crore from Rs 38,456 crore in July.
The net inflows in income funds came down to Rs 7548 crore from Rs 21670
crore as many FMPs matured in August. “Most investors have booked profit when
the markets hit a high in August. Also,
a lot of FMPs matured in August,” says Sarath Sarma, Executive Director &
Head- Sales, IDBI Mutual Fund.
The AUM of the industry went up 3% from Rs 7.30 lakh crore in July to Rs 7.52 lakh crore in August.
Net inflows/outflows in August
