Gold ETFs see 3rd straight outflow in FY16 at Rs 903 cr
Investors remained bearish on gold exchange-traded funds (ETFs) as they pulled out Rs 903 crore from this instrument last fiscal, making it the third consecutive financial year of outflow. The pace of outflow, however, slowed down in the 2015-16 fiscal ended March 31, as against the preceding two years on account of sluggish equity market. According to the latest data available with Association of Mutual Funds in India (Amfi), Gold ETFs witnessed a net outflow of Rs 903 crore last fiscal, compared to an outflow of Rs 1,475 crore in the preceding financial year. In 2013-14, the funds witnessed outflow of Rs 2,293 crore. The asset base of gold funds dropped to Rs 6,346 crore in March 2016 from Rs 6,665 crore at the end of March 2015.