BackIndia-focused offshore funds, ETFs see inflow of $4.6 billion in FY18 so far
India-focused offshore funds and ETFs had witnessed a net outflow of assets worth $2.3 billion in the year-ago period, a Morningstar report showed
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Mumbai: India-focused offshore funds and exchange traded funds (ETFs) have received net assets worth $4.6 billion in this fiscal so far, a report said. The category had witnessed a net outflow of assets worth $2.3 billion in the year-ago period, a report by Morningstar said here on Wednesday. Through the April-June quarter, the category garnered net assets worth $2.6 billion, higher than the net inflow of $2.0 billion they had received in the previous quarter.
India-focused offshore funds witnessed higher net inflows than India-focused offshore ETFs during the quarter. Of the total quarterly net inflow of $2.6 billion, India-focussed offshore funds registered net inflow of about $2.1 billion, whereas India-focussed offshore ETFs witnessed net inflows of $0.5 billion. Assets of India-focussed offshore equity funds and ETFs increased during the June quarter to $55.2 billion from $50.1 billion in the March quarter.
S&P BSE Sensex Index gained 4.4% in the quarter from an appreciation of 11.2% in the previous quarter. India-focused offshore funds and ETFs category registered a gain of 4% in the reporting period, thus outperforming the $-denominated MSCI India USD Index, which grew 2.9%. The category surged by 19.5% in the preceding quarter, the report said.
Assets of other regionally diversified equity funds and ETFs increased to $5.67 trillion in June from $5.34 trillion in the preceding quarter. The value of investment, the report said, into country’s equities in foreign funds also shot up to around $160.7 billion from $151.9 billion in the preceding quarter.
While global funds invested around $2.8 billion in Indian equities, emerging-markets funds and Asia/Asia-Pacific funds invested around $0.7 billion and $0.8 billion, respectively.
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