Top FPIs see modest rise in investment value amid sustained volatility

The investment value of top foreign portfolio investors (FPIs) saw a modest rise in the past year amid sustained volatility. The holding of the top 25 FPIs in Indian shares stood at Rs 4.6 trillion as on June 30, 2019, up 16 per cent over the same period last year, according to data from nseinfobase.com. The data has taken into account funds that own more than 1 per cent in Indian stocks.

Investors whose holdings have risen include sovereign wealth funds such as the Government of Singapore, Canada Pension Plan Investment Board, and Norges. The overall assets of sovereign wealth funds rose 12.4 per cent in in the last year to Rs 1.71 trillion.

Government of Singapore’s holdings were worth Rs 80,148 crore at the end of June 2019, up 56 per cent over the previous year, while that of Norges stood at Rs 24,631 crore, up 38 per cent from the previous year. CPPIB’s holding rose 20 per cent to Rs 20,694 crore in the past year.

The holding of EuroPacific Growth Fund — the largest standalone FPI fund — rose to Rs 85,948 crore at the end of June 2019. The fund’s top 10 global holdings include HDFC Bank (2.46 per cent) and Reliance Industries (2.21 per cent) as on June 30, 2019.

EuroPacific Growth Fund, which manages assets of $160 billion worldwide, is an open-ended equity mutual fund that is managed by Capital Research and Management Company. The fund invests in companies based mostly across Europe, Asia, as well as the Pacific Basin.