2021-03-09 16:06:05 GMT2021-03-10 00:06:05(Beijing Time) Xinhua English
MUMBAI, March 9 (Xinhua) Indian investors withdrew 2.5 billion U.S. dollars from equity and debt mutual funds in February, as per the data released by the Association of Mutual Funds of India on Tuesday.
Debt mutual funds saw its biggest outflow in the past 23 months with 924 million U.S. dollars withdrawn while equity mutual funds saw 1.4 billion U.S. dollars being withdrawn and the rest were from liquid and money market funds, as per the data.
The outflow from equity was the 8th consecutive month and the biggest since November.
Profit booking or re-allocation to alternate investment avenues like real estate or director or initial public offer led to redemption pressure in equity, said Akhil Chaturvedi, head of Sales & Distribution, Motilal Oswal Asset Management Company.