By Reuters
Mutual fund allocations bounced back in India last month, driven by strong retail participation, with investors also seeking out gold and silver funds in the hunt for stronger returns.
Indian equity mutual fund inflows rose 24% to 235.87 billion rupees($2.75 billion), snapping a five-month decline, as investors poured money across segments and turned to gold and silver ETFs in search of returns amid rising global trade uncertainty.
India鈥檚 mutual fund industry hit a new record in June, with net assets under management (AUM) climbing to 74.41 trillion rupees.
The inflows supported the benchmark Nifty 50, which gained 3% for the month, while the small-caps and mid-caps jumped 6.7% and 4%, respectively.
Gold Exchange Traded Funds saw inflows surge ten-fold month-on-month to 20.81 billion rupees in June, hitting a five-month high, data from the Association of Mutual Funds in India showed on Wednesday.
鈥淩ising inflows into Gold ETFs suggest investor interest to seek both diversification and gain from the