Assets under management of top India-focused offshore equity funds shrink

For the 12-month ended June 2018, FPI outflows stood at $500 million

Assets under management (AUM) of most of the top India-focused offshore equity funds have seen a decline in the past one year despite the benchmark S&P BSE Sensex rising 15 per cent. The total AUM of top 10 funds shrunk by 1.4 per cent to $26 billion for the one-year period ending June 2018, data provided by fund Morningstar showed. The drop in assets is on the back of $1.2 billion of outflows from these funds. iShares MSCI India, the largest offshore 100 per cent India-focused exchange traded fund (ETF), saw its AUM drop by 4.3 per cent to $4.8