PTI
New Delhi, February 13
Gold exchange traded funds (ETFs) witnessed a net outflow of Rs 199 crore in January, making it the third monthly withdrawal in a row, with investors preferring equities over other segments on buoyant record SIP flow.
Number of folios up
- Despite the outflows, the category saw its net assets under management rising to Rs 21,836 crore at the end of January from Rs 21,455 crore in December-end.
- The segment saw an increase in the number of folios by 35,680 to 46.74 lakh during the period
This was in comparison to a net outflow of Rs 273 crore registered in the segment in December and Rs 195 crore in November. Prior to that, Gold ETFs attracted Rs 147 crore in October, data with Association of Mutual Funds in India (Amfi) showed.
Kavitha Krishnan, Senior Analyst – Manager Research, Morningstar India, attributed the latest outflow from the segment to a lot of traction in equity-oriented mutual funds, which led to other asset classes, including Gold ETFs taking a backseat. Another important factor for the outflow could be uptick in gold prices, which has likely led to profit booking in the category.
Despite the outflows, the category saw its net assets under management (AUM) rising to Rs 21,836 crore at the end of January from Rs 21,455 crore in December-end.
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