Investors redeem equity MF units worth Rs 72,000 cr during Jan-May period

Sector officials attribute it to profit booking and churning of funds

A section of equity mutual fund investors - mainly the smart investors - have either redeemed their units thus far this year or there is a lot of re-alignment of funds in their portfolios resulting into a churning of money from one set of funds to other funds.

In the last five months (January- May), equity schemes have seen robust inflows of Rs 40,000 crore on a net basis. This essentially means that quantum of money coming in is outpacing the amount of money going out. However, if one looks at the overall gross sales, which stands at a whopping over