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Equity schemes saw net outflows for the second straight month in August, as the market’s upward trajectory and the need for cash amid the Covid-19 pandemic prompted investors to pull out money.
Equity schemes witnessed outflows to the tune of Rs 4,000-4,200 crore in August, led by withdrawals from large-cap and multi-cap schemes, said sources in the know, basing their estimates on the data collected from 88 per cent of the industry. These included both open- and close-ended schemes.
Open-ended scheme outflows have surpassed Rs 2,480 crore outflows seen in July — their first after over four years.
Final figures could vary depending
