Mutual fund investors pulled out as much as Rs 47,000 crore in October — the highest redemption from MF schemes in a month so far this finanicial year — triggered by the meltdown in equity markets.
At the end of October, investors redeemed funds worth Rs 46,793 crore, with maximum of withdrawals coming in in fixed income plans, a monthly report by Association of Mutual Funds of India (Amfi) said.
The redemptions in mutual fund schemes have been on an increase in the current financial years, and in September, they had witnessed withdrawals to the tune of Rs 45,655 crore.
Fixed income plans, with assured returns annually, saw a maximum pullout of Rs 52,820 crore as on October, followed by equity funds investing in stocks worth Rs 706 crore.
Analysts said fixed maturity plans have witnessed panic redemption in October on concerns about the credit quality of debt papers held by these schemes.