Global emerging market (GEM) funds saw inflows of $718 million,
paring the CY20 outflows of such funds to about $1.9 billion.
India-dedicated
funds saw outflows to the tune of $317 million in November, taking total
outflows in CY20 until then to $9.1 billion, the EPFR data compiled by Kotak
Institutional Equities showed.
Global
emerging market (GEM) funds saw inflows of $718 million, paring the CY20
outflows of such funds to about $1.9 billion. Inflows from India-dedicated,
GEM, and other categories of funds in November totalled $1.2 billion and $10.4
billion in CY20. Assets under management (AUM) of India-dedicated funds have
slid 20 per cent in the year to November to $35.2 billion. AUM of GEMs has
surged 20 per cent to $97.9 billion.
The EPFR fund-flow
data primarily tracks mutual
funds, ETFs, closed-end funds, variable annuity funds, and insurance-linked
funds. It does not include investments from hedge funds, proprietary desks, and
sovereign wealth funds, which are tracked by NSDL.
The overall
allocation to India by Asia ex-Japan funds increased to 11.1 per cent in
November from 10.4 per cent in October, while that by GEM funds increased to
9.8 per cent from 9.4 per cent in the same period.
Financials
witnessed heavy buying in November, with inflows of $3.9 billion, followed by
industrials ($970 million).
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