The equity portfolio value of domestic funds increased by 55% year-on-year to a record ₹36.5 lakh crore at the end of April 2024. Domestic funds account for one-fifth of the total institutional equity AUM – the latter represents 44% of India’s total market capitalisation.
Synopsis
This was in stark contrast to their positions a decade ago when FPIs were bullish on the local market and invested ₹75,784 crore in the 12 months to May 2014 while domestic funds were net sellers of ₹18,858 crore worth of equities. Major reasons for the FPIs’ bearish stance this time around include discomfort with the financial stocks amid regulatory actions, attractive valuations in the Chinese market and increasing US treasury yields.
ET Intelligence Group: Latest data on institutional investment reveals a major shift in the strategies of the domestic funds and foreign portfolio investors (FPIs) in the current election season when compared with the 2014 general elections. In the 12 months to May 2024, cumulative investment by local funds in Indian equities surged to a record ₹2.7 lakh crore ($32 billion) as against the ₹1.2 lakh crore invested by FPIs, according to the data
BY
ET Bureau
3 mins read, Last Updated:
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