Gold exchange-traded funds (ETFs) saw staggering net inflows of over Rs 2,400 crore in the three months ended September 30, as investors continued to hedge their exposure to riskier assets due to higher economic uncertainty resulting from COVID-19.
In comparison, investors had infused Rs 172 crore in this asset class in July-September 2019, according to the data available with the Association of Mutual Funds in India (Amfi).
The category has been among the better-performing ones so far this year and received a net inflow of Rs 5,957 crore.
As per the data, a net sum of Rs 2,426 crore was pumped into gold-linked ETFs in three months ended September 30, 2020.Divam Sharma, co-founder at Green Portfolio, said returns generated by gold ETF’s over the last one year have increased number of investors buying the asset."Gold investment picked up due to higher economic uncertainty resulting from COVID-19," said Harsh Jain, co-founder of Groww.Investors […]
October 30, 2020 Published by StockMan