Investors withdrew Rs 13,815 crore from fixed income mutual fund schemes in February
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Earlier, Rs 10,316 crore was withdrawn from such funds in January while Rs 21,947 crore was withdrawn in December. According to data from the Association of Mutual Funds in India (Amfi), there was an investment of Rs 3,668 crore in mutual funds in November 2022.
Investors pulled out Rs 13,815 crore in February from mutual fund schemes linked to fixed income i.e. bonds. With this, there has been withdrawal from mutual funds for the third consecutive month despite expectations of an early end to the policy rate hike phase. Earlier, Rs 10,316 crore was withdrawn from such funds in January while Rs 21,947 crore was withdrawn in December. According to data from the Association of Mutual Funds in India (Amfi), there was an investment of Rs 3,668 crore in mutual funds in November 2022.
Out of 16 categories of fixed income funds, nine saw withdrawals during the month under review while the remaining six saw investments. There were huge withdrawals from funds with very short term investments. Overall, bond-linked funds saw outflows of Rs 13,815 crore during the period under review. Kavita Krishnan, Senior Analyst – Research Manager, Morningstar India, said investors are turning to other assets. Apart from this, investors are also preferring it instead of bonds due to getting new options. He said that if there is some change on the policy rate front, then investors can again come to invest in bonds.
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