India-focused funds see outflows of $2.5 billion in 2016

Except for September quarter, which had net inflows of $196 million, all other quarters had outflows

The year 2016 was the year of outflows for India-focused offshore funds and exchange traded funds (ETFs). After witnessing robust inflows of $2.5 billion in 2014 and $4.3 billion in 2015, the category saw net outflows of $2.5 billion in 2016.

Except for the September quarter (net inflows of $196 million), all other quarters witnessed net outflows, data from Morningstar India shows. December saw India-focused offshore funds and ETFs posting net outflows of $439 million.

Funds that saw the most inflows during the year included Nomura India Equity ($1,024 million), iShares MSCI India ($259 million), PineBridge India Equity Y ($184 million), Jupiter