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Global investors are pulling sharply out of India-focused equity funds, marking the steepest wave of redemptions in eight months, even as flows surge into China and Hong Kong in a dramatic reversal of the rotation trade that had dominated emerging markets through 2023–2024.
According to a report by Elara Capital, India-focused funds witnessed $1.8 billion in outflows over the past four weeks, the heaviest since January. Meanwhile, China funds attracted $3 billion and Hong Kong funds $4.5 billion, underscoring investor preference for North Asia in recent weeks.
The reversal comes on the heels of Donald Trump’s US presidential victory in
