Home / Mutual Funds / News /  While we solicit FPI flows, our savings remain frozen in Tijoris: Nilesh Shah

As foreign portfolio investors (FPI) pump in a whooping 62,951 crore into Indian markets, in a first time ever trend, Association of Mutual Funds in India (AMFI) chairman Nilesh Shah tries to encourage domestic investors to follow suit.

On Saturday, Shah tweets, while we solicit FDI/FPI flows for Investment, our saving remains frozen in Tijori. Give up Kasturi Mrug attitude & use our savings for our growth.

He adds to India to become more self-reliant, more Indian investors need to participate in the markets.

The FPIs were the net buyers for the second consecutive month in November. Last month, FPIs were net buyers to the tune of 22,033 crore.

According to depositories data, FPIs invested a net 60,358 crore into equities and 2,593 crore in debt segment, taking the total net investment to 62,951 crore between November 3-27.

Shah pointed, under the similar circumstances, Indians have preferred to lock their money in gold. In another tweet, comparing Indian investors to Musk Deers, he writes, India is like a Kasturi Mrug -Musk Deer. Kasturi Mrug keeps on wandering searching for the scent emanating from itself. Large part of our savings is locked in Gold. In last two decades we have spent ~$ 500 billion for import of Gold.

Reasoning the phenomenon a little differently, Radhika Gupta, MD and CEO, Edelweiss Mutual Fund, said, FII and DIIs follows different investment patterns.

Earlier this week, Gupta tweeted, FIIs buy for their own reasons - usually as a part of changes in views on emerging markets - and sell for their own reasons. DIIs have their own, which could be very different.

In the equities segment, this is the highest amount of money invested by the FPIssince the FPI data has been made available by the National Securities Depository Ltd.

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