Investors pulled out nearly Rs 16,600 crore from various mutual fund schemes in June, making it the second consecutive monthly outflow, primarily due to huge redemption from income and liquid segments.
In comparison, mutual funds saw an outflow of close to Rs 41,000 crore in May. Prior to that, Rs 1.51 lakh crore were invested in April.
Bajaj Capital Chief Executive Rahul Parikh said mutual funds are shifting focus from income and money market or liquid funds to equities, equity-linked saving schemes (ELSS) and equity-oriented balanced funds.
"This shift can be attributed to the low yields on money market and fixed income investments at present," he added.
According to data by the Association of Mutual Funds in India (Amfi), a net sum of Rs 16,592 crore was pulled out from mutual fund schemes in June.
