PremiumIndia-focused offshore funds and ETFs recorded net outflows of $435mn in the Dec quarter, which was significantly higher than the outflows of $95 mn in the previous quarter, according to a report by Morningstar India
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India-focused offshore funds and exchange-traded funds (ETFs) recorded net outflows of $435 million in the December quarter, which was significantly higher than the outflows of $95 million in the previous quarter, according to a report by Morningstar India.
Offshore funds and ETFs are not domiciled in India but invest primarily in Indian equities. The coverage universe is 258 primary funds and ETFs. The category continued to witness outflows for 15 consecutive quarters.
In 2021, India-focused offshore funds and ETFs saw outflows of $2.45 billion, which was lower than the net sell-off of $9.26 billion in 2020.
Individually, India-focused offshore funds witnessed net outflows of $638 million in the December quarter compared with net inflow of $14 million in the quarter ended 30 September 2021. In 2021, the segment saw net outflows of $3.47 billion, which was significantly lower than the net outflow of $7.72 billion in 2020.
On the contrary, ETFs saw net inflows of $203 million in the December quarter compared with net outflows of $108 million in the previous quarter. In 2021, ETFs saw inflows of $1.01 billion compared with $1.55 billion outflows in 2020.
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