Assets of 10 top offshore funds and ETFs drop 7% in March quarter

The assets of the 10 largest India-focused offshore funds and ETFs declined 7 per cent during the quarter ended March 2022 to $20.3 billion. These funds account for almost 50 per cent of the India-focused offshore fund and ETFs category's assets, according to the quarterly Morningstar Offshore Fund Spy report.

India-focused offshore funds and ETF category saw net outflows of $1.28 billion, the 16th-consecutive quarter of net outflows. The category gave negative returns of 4.01 per cent during the quarter, underperforming MSCI India USD Index, which fell by 1.81 per cent.

iShares MSCI India ETF, the largest fund in the