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Mutual funds in India withdraw Rs 13,721 cr from stock markets in 2013 so far

Dec 30 2013, 11:37 IST
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Mutual funds offloaded shares worth Rs 482 crore to take total outflows from equities to Rs 13,721 crore. (Photo: Indian Express) Mutual funds offloaded shares worth Rs 482 crore to take total outflows from equities to Rs 13,721 crore. (Photo: Indian Express)
SummaryMutual funds offloaded shares worth Rs 482 crore to take total outflows from equities to Rs 13,721 crore.

Domestic mutual funds for the third month in a row offloaded shares in November selling equities worth Rs 482 crore in the month to take total outflows from equities to Rs 13,721 crore in 2013 so far.

Domestic mutual funds (MFs) sold shares throughout 2013 barring May and August. MFs offloaded shares worth Rs 4,018 crore in October while worth Rs 2,801 crore in September.

On the other hand, net inflows by foreign institutional investors were more than Rs 8,000 crore into stocks last month, according to data available with market regulator Sebi.

That took total investments by foreign investors in equities to over Rs 97,000 crore in 2013 so far.

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.

Debt MFs were net buyers in the debt market in November and bought debts schemes to the tune of Rs 41,623 crore.

With equity market remaining volatile in 2013, domestic funds have increased their focus on debt market to benefit from higher interest rates and have invested Rs 4.3 lakh crore in the debt market in the first 11 months of the year.

The market participants believe that fund houses have been shifting focus from equity to debt scheme because of volatility in the secondary market and better returns by the latter as compared to bank fixed deposits.

Another reason for investing in debt schemes could be lower risk compared to equity funds.

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