Gold ETFs shine in Sept quarter on MTM gains
Gold exchange traded funds (ETFs) shone for the third consecutive quarter on MTM gains in the September quarter. Assets increased 1.34 per cent, or by Rs 86 crore, to Rs 6,487 crore. However, investors chose to book profit as seen from outflows of Rs 234 crore in July-August 2016 following outflows of Rs 228 crore in the preceding quarter. The mutual fund industry’s average assets under management (AUM) hit a historic high of Rs 16.11 lakh crore (excluding fund of funds) in the quarter ended September 2016, according to numbers released by the Association of Mutual Funds in India (Amfi). The industry gained a record Rs 1.70 lakh crore or 11.78 per cent during the quarter led by rise in assets of equity and short-maturity debt funds.