After witnessing the withdrawal of funds in the last three months, Gold exchange-traded funds (ETFs) attracted a net flow of Rs 165 crore in February, mainly due to a slight correction in local yellow metal prices.
This was in comparison to a net outflow of Rs 199 crore registered in January, Rs 273 crore in December and Rs 195 crore in November.
Prior to that, Gold ETFs attracted Rs 147 crore in October, data from the Association of Mutual Funds in India (Amfi) showed.
“Despite witnessing outflows across most markets, Gold ETFs in India witnessed inflows in February. This was largely backed by a small correction in local Gold prices. The demand for ETFs largely arises when there is a correction in prices,” Kavitha Krishnan, Senior Analyst Manager Research, Morningstar India, said.
The demand for physical Gold in India is largely driven by festival and wedding season, she added.
Also, the segment saw an increase in the number of folios by around 20,000 to 46.94 lakh during the pe
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