MFs start FY14 with net equity outflow

As per Amfi's data, net outflows stood at Rs 270 crore against a net inflow of Rs 768 crore in March

India’s equity mutual fund schemes have again reported a net outflow at the beginning of the current financial year. After a better show in the immediate previous month, the equity segment witnessed net outflows in April.

According to the Association of Mutual Funds in India, the overall net outflow from equity schemes (including equity-linked saving schemes or ELSS) stood at Rs 270 crore. A majority of the outflow was accounted for by ELSS.

March, net inflow was Rs 768 crore, the first positive traction in 10 months. April saw a slippage but under control at Rs 300 crore, significant compared with the record of the past year, during which the sector saw outflows of as much as Rs 3,500 crore in a month.

The benchmark stock indices were up 3.5 per cent in April. From the pure equity schemes (diversified schemes), net outflows were at their lowest in several months, at Rs 80 crore.