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Withdrawals from Gold ETF for the second consecutive month, investors withdrew Rs 248 crore in February


new Delhi. In February, the withdrawal of Rs 248 crore from Gold Exchange Traded Funds has been seen due to the trend of investors moving towards stocks as compared to other options. This is the second consecutive month that investors have withdrawn from Gold ETFs.

According to the data of Association of Mutual Funds in India (Amfi), in January, investors had withdrawn Rs 452 crore from gold ETFs. Earlier in December, the net investment in Gold ETF was Rs 313 crore.

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Asset under management boom

Despite the withdrawal, the asset under management (AUM) in this category increased to Rs 18,727 crore at the end of February from Rs 17,839 crore at the end of January. During this period, the number of folios in Gold ETFs increased by 3.09 lakhs to 37.74 lakhs.

Preeti Rathi Gupta, Founder, LXME said that this shows that gold is seen as an asset class for portfolio diversification. He said that at this point of time investors have pulled out of gold ETFs probably to rebalance their portfolios because of the attractive returns.

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Kavita Krishnan, Senior Analyst-Manager Research, Morningstar India, said investors always prefer gold as an asset that can be used to hedge against risk and diversify their investments.

Tags: gold, Gold ETF


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