Equity mutual funds recorded 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).
Invested amount in debt mutual funds last month was Rs 44,984 crore, as compared to Rs 1.1 lakh crore in October, according to the data received on Tuesday from the Association of Mutual Funds in India.
As compared to the inflow of Rs 98,576 crore in October, the mutual fund industry witnessed a net inflow of Rs 27,914 crore across all segments during the period under review.
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.
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.
An outflow of Rs 734 crore in September was recorded by equity schemes, Rs 4,000 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.
According to experts, the net outflows in November could be largely attributed to profit booking by investors on the back of a surge in equity markets.
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 witnessed a pull out of Rs 195 crore.