Investors put in $89 mn in India-focused equity funds

Last Updated: Monday, July 20, 2009 - 17:39

New Delhi: Global investors poured in USD
89 million into India-focused equity funds, which were the
only fund group among the BRIC (Brazil, Russia, India and
China) nations to post inflows in the past four weeks.

"Inflows to India equity funds have increased two weeks
in a row and it is the only fund group among BRIC funds that
has reported net inflows in the past four weeks, in a total of
USD 89 million compared with net redemptions of USD 845
million from Brazil funds," a report by global financial
services firm Citigroup said.

But according to the data by international fund tracking
firm EPFR Global, investors put in USD 77 million in
India-focused equity funds in the second week of July.

However, investors pulled out USD 101 million from the
China equity funds during the second week of July, Brazil and
Russia equity funds surrendered USD 229 million and USD 112
million respectively.

"BRICs Equity Funds also, just barely, extended their
inflow streak to the 17th straight week. Latin America Equity
Funds and EMEA Equity Funds, meanwhile, suffered as investors
questioned Brazil and Russia`s commodity stories and looked to
India`s defensive qualities and higher growth rates," a report
by EPFR Global said.

Bureau Report




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