Investors continue pull out from India; Asia sees inflows

Global investors continued their flight from India-focused equity funds for the fourth week in a row, even as inflows into Asia tripled to 219 million dollar in the second week of February, a latest report says.

Net cash taken in by offshore Asian funds tripled week on week to 219 million dollar in the second week of this month, according to data complied by international fund tracking firm EPFR Global.

However, India and Taiwan dedicated funds remained alienated and witnessed redemptions for the consecutive fourth week, with the combined amount rising 20 times from the last week of January.

Global investors pulled out over 22 million dollar within a week from India-focused funds taking their total outflows in the past four week to nearly 52 million dollar, the report revealed.

Besides, Taiwan funds saw an outflow of 17.6 million dollar in the reviewed week.

Inflows into Asia (excluding-Japan) equity funds were broadly based, with Korea, China, Greater China and Hong Kong equity funds all taking in between 40-145 million dollar.

All four of the major emerging markets equity fund groups tracked by EPFR Global recorded modest inflows during the week ended February 12.