News From Press Mutual funds withdraw Rs 12,980 crore from equities in January

Mutual funds withdraw Rs 12,980 crore from equities in January

Overall, mutual funds withdrew a net of over Rs 56,400 crore in 2020, data available with the Securities and Exchange Board of India (Sebi) showed.

The Economic Times Feb 8, 2021

Continuing the selling spree for the eighth consecutive month, mutual funds pulled out Rs 12,980 crore from equities in January as surge in markets provided an opportunity to book profits. MyWealthGrowth.com co-founder Harshad Chetanwala said investors may prefer to book profits for some more time as they witness more surge in the stock market. However, with growth-focused Budget, improving economy and vaccination drive, the equities are one of the best asset classes to remain invested at present, he added.

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