Investors flock to India

The Offshore Fund Spy looks at data related to performance, estimated flows and asset trends for offshore funds focused on India. Here is an excerpt.
By Niranjan Risbood |  30-07-14 | 
 
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About the Author
Niranjan Risbood is Director - Fund Research (India) with Morningstar. He would like to hear from you, but he cannot provide individual-portfolio or financial-planning advice.

Foreign institutional investors, or FIIs, continued to buy Indian equities during the second quarter. As per data released by the Securities and Exchange Board of India, or SEBI, there has been a net FII inflow of $9.9 billion into Indian equities in 2014, of which about $6.3 billion came in the second quarter.

Insurance companies, hedge funds, sovereign wealth funds, offshore funds and ETFs form an important component of the total FII pie. The total investment by offshore funds in Indian equities was about $120 billion as of June 2014, or about 45% of total FII investment in the country. Within offshore funds, the assets of India-specific offshore funds increased to $36 billion in June 2014 after touching a low of $28 billion in September 2013.

Wisdom Tree India Earnings, an India-focused equity ETF domiciled in the United States, recorded the highest inflow of $522 million during the quarter. Over the past year, iShares MSCI India – US ETF experienced the highest inflow of $820 million.

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