News From Press Gold funds losing sheen? Investors pull out Rs 6.79 bn in 10 months of FY18

Gold funds losing sheen? Investors pull out Rs 6.79 bn in 10 months of FY18

Source: Business Standard/PTI Feb 12, 2018

Investors have pulled out Rs 1.1 billion from gold exchange-traded funds in January, taking the total outflow to Rs 6.79 billion in the first 10 months of the current fiscal, mainly on account of poor returns.The outflow meant assets under management (AUM) of gold funds plunged by over 15 per cent during the period under review to Rs 49.06 billion from Rs 56.70 billion in the year-ago period, latest update with the Association of Mutual Funds in India (Amfi) showed.

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