ADVERTISEMENT

India Leads Asia Fund Flows in March as Foreigners Return: Chart

After the 15-month high foreign withdrawals in February, the tide is turning again for Indian equities.

India Leads Asia Fund Flows in March as Foreigners Return: Chart
Multiple denomination U.S. dollar bills sit on top of Swiss franc bank notes in this arranged photograph inside a currency exchange store in London, U.K. (Photographer: Chris Ratcliffe/Bloomberg)
India Leads Asia Fund Flows in March as Foreigners Return: Chart

(Bloomberg) -- After foreign withdrawals in February that were the biggest in 15 months, the tide is turning again for Indian equities. Global funds have plowed about $2 billion into domestic shares, the highest overseas inflows among Asian markets, after pulling $1.96 billion last month, according to data compiled by Bloomberg. The decline in valuations from a decade-high and the improving outlook for earnings growth have drawn foreigners, said Manish Sonthalia, chief investment officer of portfolio management services at Motilal Oswal Asset Management Co.

--With assistance from Matt Turner

To contact the reporter on this story: Ameya Karve in Mumbai at akarve@bloomberg.net.

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Ravil Shirodkar, Divya Balji

©2018 Bloomberg L.P.