Investors pour $794 mn in Asia funds; India sees inflows

NEW DELHI: Global investors have poured in over $ 794 mn in Asia-dedicated equity funds in the first week of April as India-focussed funds broke their 11-week outflow streak.

According to the data complied by international fund tracking firm EPFR Global, all the Asia - excluding Japan - equity funds enjoyed another solid week, driven by investors' faith in China's growth story.

"It was the best week of inflows for Asia ex-Japan equity funds since April 2008. More than half of the $794-mn of weekly inflows were received by China Equity Funds," the EPFR report stated.

India-focussed equity funds snapped an 11-week outflow streak, while at the country and sub-regional level both Brazil and China Equity Funds recorded inflows in excess of $ 400 mn, it added.

Further, all emerging market equity funds tracked by EPFR took in $2.2 bn of inflows during the week, or 0.9 per cent of their total assets, and bringing inflows to date this year to $5.4 bn.

"This is the fifth week in a row we've seen this combination of positive net flows into funds dedicated to emerging markets equity and the riskiest kind of bonds," EPFR Global Managing Director Brad Durham said.