Inflows into Indian equity funds slowest in March as shares tumble globally

Inflows into Indian equity funds in March were the smallest in 13 months as some investors sold before a tax on stock holdings took effect from April 1 and volatility returned to markets worldwide.

Equity funds took in a net Rs 66.57 billion ($1 billion), the least since last February, data from the Association of Mutual Funds in India show.

Shares tumbled globally toward end of March as trade skirmishes between the US and China cooled demand for riskier assets. India’s S&P BSE Sensex gauge entered its first correction in more than 15 months as the selloff hit investor sentiment already weakened