Investors have pulled out nearly Rs 34,000 crore from various mutual funds in September against a net inflow of Rs 23,713 crore in August.
As per the latest data available with the Securities and Exchange Board of India (SEBI), investors have withdrawn Rs 33,910 crore in September in various MF schemes.
This takes the MFs’ net mobilisation of funds from investors in the first six months of the current fiscal at about Rs 35,342 crore.
Mutual fund is an investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.
At gross level, mutual funds mobilised Rs 8.67 lakh crore in September, but also witnessed redemptions worth Rs 9 lakh crore — resulting into a net outflow of Rs 33,910 crore.
This has brought down the total assets under management of mutual funds to Rs 7.46 lakh crore as on September 30 from Rs 7.66 lakh crore in the previous month.
The huge outflow coincides with 494 points or 2.6 per cent rise in the benchmark S&P BSE Sensex during the period under review.
During the financial year 2013-14 so far (April-September), mutual funds mobilised Rs 35,342 crore compared with Rs 1,01,875 crore mobilised in the corresponding period of 2012-13.
During the 2012-13 fiscal, mutual funds had garnered Rs 76,539 crore from investors, while over Rs 22,000 crore moved out of the mutual funds’ kitty during the preceding fiscal.