The redemption pressure on local funds eased in March. The domestic mutual funds turned net buyers during the month with investment worth Rs 2,476 crore after remaining net sellers in the previous nine months, according to the data from SEBI. This includes exposure to equity funds, index funds, exchange traded funds (ETFs), and balanced funds for trades in the secondary market. The gross purchase by the local funds rose to Rs 76,583 crore in March, the highest in the past 12 months. There were only five instances since 2008 when gross equity purchase of the local funds crossed Rs 75,000 crore in a single month.