India-dedicated funds follow global EM trend as outflows hit $547 mn in May

In all, funds tracked by EPFR saw net outflows of $1.2 billion, accounting for nearly a fourth of $5.2 billion outflows by FPIs in May

India-dedicated funds witnessed outflows of $547 million in May, adding to the foreign outflows from the domestic market. 

In total, funds tracked by EPFR saw net outflows of $1.2 billion, accounting for nearly a fourth of $5.2 billion outflows by foreign portfolio investors (FPIs) in May. 

Of this, global emerging market (GEM) funds accounted for $426 million and other funds saw reported outflows of $201 million, data compiled by Kotak Institutional Equities (KIE) shows. 

Data on funds tracked by EPFR comes with a lag. The flows indicate investor sentiment towards India and emerging market (EM) pack, particularly of those investors that