Gold ETFs see Rs 500 cr outflow in 2 mths

Gold ETFs see Rs 500 cr outflow in 2 mths

FPJ BureauUpdated: Saturday, June 01, 2019, 12:50 AM IST
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New Delhi:  Gold exchange traded funds (ETFs) have lost favour among investors as mutual fund managers pulled out close to Rs 500 crore from these products in the first two months of the fiscal, mainly on account poor return. This is in continuation with an outflow from such funds in the past two financial years.  Gold ETFs saw an outflow of around Rs 1,475 crore from these products in 2014-15 and a withdrawal of Rs 2,293 crore by mutual fund (MF) managers in 2013-14.  Market experts attributed the outflows in the ongoing fiscal, 2015-16, to poor returns offered by gold schemes, continuous weak pricing, negative outlook for the yellow metal amid strong equity markets.

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