Inflows continued in gold exchange-traded funds in India in June as prices of the yellow metal stabilised due to moderate central-bank buying.
Investors deployed Rs 726.2 crore into gold ETFs—passive investment instruments that track gold prices—in June, according to data released by the Association of Mutual Funds in India on Monday. In May, the net inflow was Rs 827.4 crore.
Net assets under management of gold ETFs in India stood at Rs 34,355.7 crore last month. It has jumped 65% in one year as investors increasingly turn to the proxy and tax-efficient way of investing in gold without the hassle of physically storing it.
Nippon India ETF Gold BeES—the country's top fund in the segment that manages over Rs 11,318 crore—has given 23% returns in the last year.
Global gold ETFs saw inflows worth $211.9 million in June, according to the latest World Gold Council data. North America and Asia led global inflows, while Europe registered a mild loss. As of June 21, global gold ETF holdings rose to 3,097.5 metric tonnes.
Inflows Into Mutual Funds Resume
Overall outflows into mutual funds stood at Rs 43,636.5 crore during June, compared with an inflow of Rs 1.11 lakh crore. Net assets under management increased to Rs 61.2 lakh crore in June from Rs 58.9 lakh crore in May. Having crossed Rs 50 lakh crore in December 2023, the next Rs 10 lakh crore journey of the net AUM to the Rs 60 lakh crore mark has been achieved in just six months.
Equity inflows increased 17% to Rs 40,608.2 crore last month, led by a rise in the inflows of nine new fund offer schemes in the multi-cap fund and thematic funds.
RECOMMENDED FOR YOU
Debt Mutual Funds Log Rs 1.5-Lakh Crore Inflow In October On Investment In Liquid Schemes
Nov 17, 2024
Equity Mutual Funds See Record Inflows In October As Retail Investors Buy The Dip
Nov 13, 2024
FII Sell-Off Hits Rs 1 Lakh Crore, Gold At Record High, Earnings Disappoint — The Week That Was
Oct 25, 2024
Mid- And Small-Cap Mutual Funds Attract Rs 30,350 Crore In First Half Of FY25
Oct 20, 2024
POPULAR