Investors have pulled out more than Rs. 58,000 crore from various mutual fund (MF) schemes in May on account of huge outflow from money market and gilt funds.
In comparison, about Rs. 243 crore was invested in May last year.
According to data from the Association of Mutual Funds in India (Amfi), investors withdrew Rs. 58,185 crore from MF schemes in May 2016 as against an inflow of Rs. 1.7 lakh crore in the preceding month.
Generally, liquid funds witness heavy outflow towards the end of March and the trend gets reversed in April as banks and corporates reinvest the surplus, which they had withdrawn to pay their financial and advance taxes.
About Rs. 69,399 crore was pulled out from liquid or money market segment, while Rs. 837 crore was taken out from gilt funds.
However, inflows continued in equity schemes on strong retail participation. The category saw an infusion of Rs. 4,721 crore.
