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After 6 years, gold ETFs witness inflows in 2019-20 amid coronavirus volatility

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NEW DELHI\ : Investors infused over ₹1,600 crore in gold exchange-traded funds (ETFs) in 2019-20, after pulling out money for the last six financial years, as the coronavirus outbreak spurred safe-haven buying.

Given the threat posed by the coronavirus pandemic to the global economy and markets, this segment may continue to gain traction going ahead, said Himanshu Srivastava, Senior Analyst Manager Research, Morningstar India.

The inflows meant asset under management (AUM) of gold funds surged by 79 per cent to ₹7,949 crore at the end of March 2020, from ₹4,447 crore in March-end 2019, data from the Association of Mutual Funds in India (Amfi) showed.

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