Figures
For the month ending February 2021, equity mutual fundsworth Rs 10,468 crore were sold, showing a 13% increase in the outflow ofcapital from the month ending January 2021.
Why this hurry to exit the equity mutual funds?
Anup Bhaiya, founder of Mumbai based Money Honey FinancialServices claims, “Investors opted to book profits as markets scaled new high.Some investors are redeeming their investments in mutual funds and investingdirectly in stocks.”
While N. S. Venkatesh, chief executive, AMFI believes that, “Wemay see net inflows in the tax saving schemes in next month, as more investorsopt to save their taxes in March.”
Overall Picture
Total assets under management (AUM) under all investment instrumentsand styles for the Indian mutual fund industry increased by about 1.5%. AtJanuary-end the amount was Rs 31.84 lakh crore while on February-end it was Rs32.29 lakh crore.