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India-dedicated funds witnessed outflows of $547 million in May, adding to the foreign outflows from the domestic market, a <a target="_blank" href="https://www.business-standard.com/article/finance/india-dedicated-funds-follow-global-em-trend-as-outflows-hit-547-mn-in-may-122062700739_1.html">report by Business Standard </a>stated.

The report noted that, in total, funds tracked by EPFR saw net outflows of $1.2 billion, accounting for nearly a fourth of $5.2 billion outflows by foreign portfolio investors (FPIs) in May.

Of this, global emerging market (GEM) funds accounted for $426 million and other funds saw reported outflows of $201 million, it said quoting data compiled by Kotak Institutional Equities (KIE). The assets under management by GEM funds are about $126 billion and by India-dedicated funds are about $39 billion, added BS.

The flows indicate investor sentiment towards India and the emerging market (EM) pack, particularly of those investors that take the exchange-traded fund (ETF) route to gain global exposure, the report pointed out.

The KEI report noted that in May, ETF outflows stood at $408 million while non-ETF outflows came in at $139 million. However, a trend reversal is seen in the last 12 months' data, noted the report, the ETF outflows were at $1,342 million, while non-ETF outflows were at $1500 million.

“Listed emerging market fund flows were negative for most countries. China witnessed $2.8 billion of outflows, followed by India, Brazil, and South Korea which saw $1.2 billion, $805 million, and $637 million of outflows,” the KIE note said.

The total AUM of the EPFR India universe is $241 billion.

India-dedicated funds follow global EM trend as outflows hit over half a billion dollars in May: Report

The report noted that, in total, funds tracked by EPFR saw net outflows of $1.2 billion, accounting for nearly a fourth of $5.2 billion outflows by foreign portfolio investors (FPIs) in May.

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