Indian Gold ETFs Glow Agian After 10-Quarters

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Indian Gold ETFs Glow Agian After 10-Quarters

Gold Silver Reports — Indian Gold exchange traded funds, or ETFs, posted their first quarterly growth since September 2013 in March quarter, growing 4.84%, or by Rs 2.92 billion, to Rs 63.35 billion, as underlying asset values rose. Gold prices, as represented by the CRISIL Gold Index, rose over 16% in the quarter. The category had, however, witnessed outflows of Rs 2.23 billion in January-February 2016.

◊ A net inflow of over Rs 1 trillion in equity funds helped the mutual fund industry grow its average assets under management (AUM) 14% in the year ended March, according to numbers released by the Association of Mutual Funds in India (AMFI). However, growth was muted compared with the 31% gain seen the previous fiscal.

◊ For the quarter ended March, too, assets logged growth, touching a record Rs 13.53 trillion in what was the tenth consecutive quarter of growth. The gain of 0.92%, or Rs 123.60 billion, was however the least in 10 quarters, mainly due to a fall in assets of equity, ultra-short term debt and long-term debt funds. — Neal Bhai Reports