Gold ETF inflows rose 71.4 per cent month-on-month to Rs 4,451 crore in September, even as mutual funds recorded overall net outflows of Rs 1.33 lakh crore. Equity schemes and SIPs continued attracting investments, while debt funds saw heavy withdrawals.
It seems like many investors were finally compelled to acknowledge the drawbacks of physical gold and give up their inefficient preference for holding it, said Himanshu Srivastava, associate director, Morningstar India.
The inflow came after witnessing a net pullout from safe-haven assets for six consecutive years, mainly on fears of a global slowdown and volatility in equity and debt markets