Data from the Association of Mutual Funds of India showed that the monthly asset under management of the gold backed exchange traded funds (ETFs) stood at Rs. 6,499 crore in Jul 2016. The gold ETF witnessed a net outflow of Rs. 183 crore in Jul 2016 and an outflow of Rs. 411 crore during the period Apr-Jul 2016. One of the probable cause for such redemption can be attributed to the growing interest of the investors to reinvest their holdings in gold sovereign bonds and the traditional equity and income fund schemes.