Gold ETFs recorded the first net outflow of the current financial year in July

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MUMBAI: July has been a disappointing month for Gold Exchange Traded Fund (ETF) Industries as outflows were recorded for the first time during the current financial year 2021-2. According to the Association of Mutual Funds in India (AMFI), investors withdrew Rs 21.5 crore from gold ETFs in July, compared to a new investment of Rs 20 crore in June.

As a result of the net outflow, the total under-asset management (AUM) of the gold ETF segment at the end of July stood at Rs 17.8.5 crore, up from Rs 12.7.18 crore in June.

"For the first time in the current financial year, we have seen a negative inflow in gold ETFs, even though it was limited to Rs 21 crore in July," said experts in the mutual fund industry. Negative returns in gold have led to redemption, although folio growth has continued into July. Notably, the impact of global factors has led to a decline in new investments as the price of gold has risen.

Notably, amid the uncertainty of the Corona epidemic, investors have become more attracted to gold and have invested Rs 500 crore in digital gold, i.e. Gold Exchange Traded Funds (ETFs), by 2020-21.

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