India-focused offshore funds see $1.2-billion outflows in February

Offshore listed funds invested in India posted outflows of nearly $ 1.2 billion in February. The outings were largely motivated by funds dedicated to India. Passively managed funds, or exchange traded funds (ETFs), recorded $ 233 million in cash outflows, while the figure stood at $ 929 million for non-ETF flows ($ 1.16 billion of outputs).

Flows from listed emerging markets were negative for all countries except Brazil and Russia. China and South Korea recorded outflows of $ 3.5 billion and $ 1.7 billion respectively. Sales to foreign institutional investors (FII) accelerated in March amid the virus epidemic. In India, the IFIs sold more than 55,000 crore rupees in equity this month, in addition to 54,240 crore rupees for sale on the debt markets. Overall, the sale of FII crossed the 1,000 billion rupee mark in March.

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