Gold ETF: In the same quarter last year, the figure of investment in Gold ETF was Rs 2,040 crore.
Investors have invested Rs 1,328 crore in Gold Exchange Traded Funds (Gold ETFs) for the quarter ended June, 2021. Experts believe that this flow of investment will continue in the remaining months of the current financial year. This information was obtained from the data of Association of Mutual Funds in India (Amfi). In the same quarter last year, the figure of investment in Gold ETF was Rs 2,040 crore.
Chirag Mehta, Senior Fund Manager (Alternative Investments), Quantum Mutual Fund said that investing in gold ETFs in the June quarter last year was remarkable in view of the COVID-19 pandemic situation. In the June quarter of this year, the inflow of investment has been a bit low amid hopes of recovery in the economy.
Because of this increased investment in Gold ETFs
Arshad Fahoum, Chief Product Officer, MarketPulse, said last year investments in gold ETFs had increased due to rising asset prices due to the pandemic and inflation. Echoing similar views, Divam Sharma, co-founder, Green Portfolio, said that the inflow of investments into gold ETFs in the first half of 2020-21 was very strong. Investors were attracted to gold ETFs due to uncertainty amid the first wave of COVID-19.
He said, due to the commencement of trading activities and excellent performance of stock markets, now investors are shifting investments from gold. Allocation in gold has also been affected due to bitcoin.
Less investment compared to first three months of 2021
According to the data of Amfi, in the first three months of 2021, an investment of Rs 1,779 crore came in Gold ETF. The investment figure in the subsequent three months stood at Rs 1,328 crore.
The Assets Under Management (AUM) of the Gold ETF rose to Rs 16,225 crore at the end of June, 2021 despite reduced investment inflows. The AUM stood at Rs 10,857 crore at the end of June 2020.
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