India-focused offshore funds and exchange traded funds (ETFs) have received net assets worth USD 4.6 billion in this fiscal so far, a report said.
The category had witnessed a net outflow of assets worth USD 2.3 billion in the year-ago period, a report by Morningstar said here today.
Through the April-June quarter, the category garnered net assets worth USD 2.6 billion, higher than the net inflow of USD 2.0 billion they had received in the previous quarter.
India-focused offshore funds witnessed higher net inflows than India-focused offshore ETFs during the quarter.
Of the total quarterly net inflow of USD 2.6 billion, India-focussed offshore funds registered net inflow of about USD 2.1 billion, whereas India-focussed offshore ETFs witnessed net inflows of USD 0.5 billion.
Assets of India-focussed offshore equity funds and ETFs increased during the June quarter to USD 55.2 billion from USD 50.1 billion in the March quarter.
S&P BSE Sensex Index gained 4.4 percent in the quarter from an appreciation of 11.2 percent in the previous quarter.
India-focused offshore funds and ETFs category registered a gain of 4 percent in the reporting period, thus outperforming the USD-denominated MSCI India USD Index, which grew 2.9 percent. The category surged by 19.5 percent in the preceding quarter, the report said.
Assets of other regionally diversified equity funds and ETFs increased to USD 5.67 trillion in June from USD 5.34 trillion in the preceding quarter.
The value of investment, the report said, into country's equities in foreign funds also shot up to around USD 160.7 billion from USD 151.9 billion in the preceding quarter. While global funds invested around USD 2.8 billion in Indian equities, emerging-markets funds and Asia/Asia-Pacific funds invested around USD 0.7 billion and USD 0.8 billion, respectively.
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