Redemptions in India’s top 20 mutual funds rose to the second highest level this year, even as the industry’s assets under management touched a fresh high.
Equity redemptions in June saw a “massive rise” of 38 percent over the last year to Rs 18,300 crore, leading to a 24 percent sequential fall in net inflows to Rs 8,200 crore, according to brokerage Motilal Oswal’s mutual fund tracker report.
The benchmark Nifty 50 had declined 1 percent in June.
