New Delhi: With this, net withdrawal by mutual funds (MFs) has reached to over Rs 28,000 crore in the first 11 months of the ongoing year (January-November), data available with the Securities and Exchange Board of India (SEBI) showed.
The markets, despite the withdrawals from mutual funds in the last few months, have continued to rise as flows from FPIs have been robust.
Foreign Portfolio Investors (FPIs) have put in over Rs 1.08 lakh crore in the Indian equity markets during January-November period of 2020.
“With markets touching new highs and Nifty PE (private equity) valuations crossing 36 times, there is profit booking happening. This is visible from the increased ‘outflow’ number compared with September -October,” said Vidya Bala, co-founder of PrimeInvestor.in.
The gross inflows have also not picked up much as the impact of COVID-19 on individual investor’s income is yet to normalise, she added.
