MFs offload shares worth Rs 22,749 cr

Mutual funds (MFs) sold shares worth Rs 22,749 crore during FY2013, which turns out to be the highest net outflow for a single fiscal in 12 years, from 2000-01 when MFs nds pulled out shares worth Rs 27,670 crore, as per the latest data compiled by the market regulator Sebi.

With this, fiscal 2013 also marked the fourth consecutive year of net outflows by MFs in the stock market as compared to the preceding three fiscals.In the past four financial years till 2012-13, the mutual funds have cumulatively sold shares worth a net amount of over Rs 55,000 crore, as per the data.

During the last fiscal, MFs were net sellers of equities in 11 out of 12 months, with June 2012 the only month to record net inflow of Rs 296 crore. The huge sell-off during the year coincided with a rise of about 8% in the market benchmark Sensex. On the contrary, mutual funds took a bullish stance on the debt market during 2012-13 with a net investment of Rs 4.74 lakh crore.

Since 2000-01, mutual funds have made a cumulative net outflow of Rs 81,663 crore from the equities, while they invested a net amount of Rs 15.4 lakh crore in the debt market during this period.

At the end of March, there were a total of 1,294 schemes under mutual funds, of which 857 schemes (66 per cent of the overall schemes) were income/debt oriented while 347 schemes (27 per cent of total schemes) were growth/equity related.  Also, assets under management (AUM) in the equities segment stood at Rs 1.79 lakh crore at the end of March 31, 2013.

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