Equity mutual funds witnessed a massive outflow of Rs 12,917 crore in November, even as the assets under management of the industry touched a record high of Rs 30 lakh crore. This also marks the fifth consecutive month of withdrawal from equity mutual funds (MFs).
However, investors had put in Rs 44,984 crore in debt mutual funds last month, as compared to Rs 1.1 lakh crore in October, data from the Association of Mutual Funds in India showed on Tuesday. Overall, the mutual fund industry witnessed a net inflow of Rs 27,914 crore across all segments during the period under review, as against an inflow of Rs 98,576 crore in October.
The assets under management (AUM) of the mutual fund industry soared to a record high level of Rs 30 lakh crore in November-end, from Rs 28.23 lakh crore in October-end, due to positive inflow in debt funds. As per the data, outflow from equity and equity-linked open ended schemes was at Rs 12,917 crore in November, compared to Rs 2,725 crore in October.
All the equity schemes have seen outflows last month. The equity schemes had witnessed an outflow of Rs 734 crore in September, Rs4,000 crore in August and another Rs 2,480 crore in July, which was their first withdrawal in over four years. Prior to this, such schemes had attracted Rs 240.55 crore in June.
The net outflows in November could be largely attributed to profit booking by investors on the back of a surge in equity markets, experts said. Apart from equity, gold exchange traded funds (ETFs) witnessed an outflow of Rs 141 crore last month. This was the first outflow since March, when safe haven assets had seen a pull out of Rs 195 crore.
In October, they had seen an inflow of Rs 384 crore.