India gold ETF, equity fund inflows ease in Oct

Business Recorder reported that Indian gold ETF investments dropped 22 percent in October, reaching 34.74 billion rupees, or USD370.57 million. The Association of Mutual Funds in India attributed the figures to fund houses stopping new subscriptions and bulk buying before the festive period. India has also been trying to restrain gold imports as its currency traded near record lows last month.

Equity mutual fund inflows declined about 14 percent from September to 329.9 billion rupees, equivalent to USD3.52 billion. Small-cap and mid-cap fund inflows fell 37.6 percent and 29.1 percent, respectively, while large-cap fund inflows rose 20.1 percent to 10.32 billion rupees. InCred Money mutual funds CEO Nitin Agrawal said the second monthly increase in large-cap allocations suggests a valuation correction has revived retail investor interest.