Investors pulled some USD900 million from India-focused offshore funds and exchange-traded funds during the first quarter of 2014, according to data released by Morningstar.
The outflows occurred in January and February with flows turning positive again in March.
Outflows came despite an overall overseas investment of USD3.65 billion into the country’s equity market in the first three months of the year.
According to a report from Morningstar: “India-focused offshore funds and ETFs registered a net outflow of USD0.9 billion for the first quarter. This consists of USD878 million of outflows from offshore funds and USD30 million of outflows from offshore ETFs.”
