In July equity mutual funds saw a net monthly outflow for the first time in more than four years as investors booked profits after a sharp rally in markets while some worried about the recent exuberance in stock prices ploughed the money back into safer assets such as gold funds. July saw a net outflow of ₹2,480.35 crores from equity mutual funds, the first such sell-off since March 2016. To discuss the trends and way forward I am in conversation with G Pradeepkumar, CEO, Union AMC.