Equity mutual funds net outflows at over Rs 2,700 cr in October

Equity mutual fund schemes saw an outflow of Rs 2,724.95 crore in October, showed data from the Association of Mutual Funds in India (AMFI) on Monday. According to the data, the net outflow stood at Rs 2,724.95 crore in October compared with an outflow of Rs 734.40 crore in September.

The outflow had stood at Rs 4,000 crore in August. In July, the net outflows stood at Rs 2,480.35 crore.

Contributions through systematic investment remained flat at Rs 7,788 crore over the previous month in September.

"Open-ended equity schemes overall saw an outflow of INR 2,724.95 crore, while the categories like Large & Mid Cap Fund saw positive flows of INR 256.74 crore and Sectoral or Thematic Funds witnessed net flows of INR 2,214.67 crore due to two NFOs during October 2020," the AMFI said in a statement.

"The outflow significantly moderated for Hybrid scheme category at INR 1,681.87 crore for October 2020, as compared to INR 4,219.01 crore in September 2020 and INR 4,819.45 crore for August 2020."

The story has been taken from a news agency