 "India-dedicated fund outflows for CY20 at $7.4 billion, shows EPFR data")
India-dedicated funds saw outflows to the tune of $486 million in August, taking total outflows for the CY20 to $7.4 billion, the EPFR data compiled by Kotak Institutional Equities shows.
Global emerging market (GEM) funds saw outflows of $51 million, taking the CY20 outflows to about $2.6 billion. Outflows from India-dedicated, GEM, and other categories of funds totalled $467 million in August and $10.4 billion in CY20. Assets under management (AUM) of India-dedicated funds have slid 26 per cent in the year to August to $32.6 billion. AUM of GEMs have remained relatively flat at $81.5 billion.
The EPFR fund-flow data primarily tracks mutual funds, ETFs, closed-end funds, variable annuity funds, and insurance-linked funds. It does not include investments from hedge funds, proprietary desks and sovereign wealth funds, which are tracked by NSDL.
The overall allocation to India by Asia ex-Japan funds increased to 9.8 per cent in August from 9.5 per cent in July, while that by GEM funds increased to 9 per cent from 8.9 per cent in the previous month.
Financials witnessed heavy buying in August, with inflows of $1.4 billion, followed by consumer discretionary ($427 million).
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%