Flows into equity mutual funds fall to a 6-month low in May
Investors in India withdrew INR3,240 crore ($475m) from equity mutual funds in May, half the prior month's total as they looked to cash in on the equities rally. Despite the slump in equity mutual funds, inflows to systematic investment plans hit an all-time high of INR14,749 crore, versus INR13,728 crore in April. Assets under management also rose to INR42.94 lakh crore. While small and midcap funds attracted flows, large-cap, flexi-cap and focused funds lost funds, along with ELSS schemes. Large-cap funds are struggling to beat the benchmark, leading investors to pursue passive funds.
Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.
