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Investors put in $89 mn in India focused equity funds

Investors put in $89 mn in India focused equity funds
PTI
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First Published: Mon, Jul 20 2009. 05 19 PM IST
Updated: Mon, Jul 20 2009. 05 19 PM IST
New Delhi: Global investors poured in $89 million into India-focused equity funds, which were the only fund group among the Bric (Brazil, Russia, India and China) nations to post inflows in the past four weeks.
“Inflows to India equity funds have increased two weeks in a row and it is the only fund group among Bric funds that has reported net inflows in the past four weeks, in a total of $89 million compared with net redemptions of $845 million from Brazil funds,” a report by global financial services firm Citigroup said.
But according to the data by international fund tracking firm EPFR Global, investors put in $77 million in India-focused equity funds in the second week of July.
However, investors pulled out $101 million from the China equity funds during the second week of July, Brazil and Russia equity funds surrendered $229 million and $112 million respectively.
“Brics equity funds also, just barely, extended their inflow streak to the 17th straight week. Latin America equity funds and EMEA equity funds, meanwhile, suffered as investors questioned Brazil and Russia’s commodity stories and looked to India’s defensive qualities and higher growth rates,” a report by EPFR Global said.
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First Published: Mon, Jul 20 2009. 05 19 PM IST
More Topics: Equity | Funds | Citigroup | Bric | Money Matters |