Indian mutual fund industry witnessed net outflows of Rs 467.50 billion during the month of August 2015, due to huge outflows from liquid and money market funds. In the previous month, the industry had attracted net inflows of Rs 1.19 trillion.

At the same time, mutual funds mopped up Rs 29.63 billion through launch of 21 new schemes during August.

Liquid and money market funds witnessed outflows of Rs 704.89 billion in August. Gold ETFs recorded outflows of Rs 820 million. It was followed by fund of funds investing overseas with outflows of Rs 430 million.

On the other hand, income funds recorded net inflows of Rs 126.71 billion. Equity and ELSS - Equity witnessed net inflows of Rs 87.60 billion and Rs 3.96 billion respectively.

GILT and balanced funds registered inflows of Rs 1.43 billion and Rs 14.25 billion respectively.

Meanwhile, other ETFs witnessed net inflows of Rs 4.69 billion.