The Reserve Bank of India (RBI) released the results of the 2019-20 round of the Survey of Foreign Liabilities and Assets of the Mutual Fund (MF) Companies. The survey covered 44 Indian MF companies and their Asset Management Companies (AMCs), which held/acquired foreign assets/ liabilities during 2019-20 and/or in the preceding year. Foreign liabilities of MF companies declined by 15.7% during 2019-20 and stood at US $9.6 billion in March 2020, mainly consisting of units issued to non-residents; their overseas assets were much lower at US $0.8 billion. The UAE, the UK and the USA accounted for 38% of the total MF units held by non-residents. Overseas equity investments of MF companies were largely concentrated in the Luxembourg and the USA. Foreign liabilities of AMCs stood at US $ 4.4 billion in March 2020 as compared to their foreign assets of US $ 0.1 billion.
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