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- Mutual Fund Withdrawal In 2024 Mutual Fund Detail And |Investment Details
Mumbai36 minutes agoAuthor: Abhishek Kumar
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A total of Rs 14,367 crore was withdrawn from the Systematic Investment Plan (SIP) accounts of mutual funds in July. This is the highest level of withdrawal from mutual fund accounts so far. The trend of withdrawal has been seen for the past several months. This is more than the growth in investment.
According to Anand Rathi Wealth Deputy CEO Firoz Aziz, this withdrawal shows that investors have booked huge amounts of profit after continuous profit making for the past several months. At the same time, the instability created by the budget announcements also affected investor sentiment.
Gross investment through SIP in July was ₹23,332 crore
Gross investment through SIP in July stood at Rs 23,332 crore, while net investment was only Rs 8,964 crore. Net investment was only 38% of gross investment, the lowest since December 2023. The July SIP data is an extension of the trend seen in the first half of the current financial year.
Gross inflow in first six months was Rs 1.2 lakh crore
Gross inflows in the first six months of 2024 stood at Rs 1.2 lakh crore, up 41% from the same period last year. However, net SIP inflows grew by only 25% to Rs 52,016 crore.
2700 crores withdrawn from focused funds in 8 months
Focused funds that run a portfolio of less than 30 stocks have seen outflows in 7 out of 8 months. A total of Rs 2,700 crore has been withdrawn. This is due to weak performance.
- These funds manage around 40% of the assets under management (AUM) of Rs 1.5 lakh crore related to focused funds.
- Value Research data shows that 50% of the funds outperformed the benchmark (BSE 500) over one and three years.
- Of these, only 41% funds were successful in beating the benchmark returns in 5 years.
- These funds gave an average return of 33.7 per cent over a one-year period while the BSE-500 gained 35.8% during the same period.
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