Mumbai: Fund allocation to India by foreign portfolio investors (FPIs) witnessed a fall in January. Allocation to India by Asia ex-Japan funds came down to 13.6% in January this year from 14% in December 2016. In the month of January, India saw FPI inflow worth $ 556 million, driven by ETF (exchange traded fund) flows of $ 395 million, a report by Kotak Institutional Equities said.Other emerging markets including Brazil and Russia piped India in FPI fund flows in the month of January. Brazil saw inflows worth $841 million and Russia $931 mainly in equities mainly led by ETF inflows. Allocation by Asia ex-Japan ETF funds to India remained around 8.9% and allocation by GEM ETF funds has remained at 9.3% in January.Allocations to India and China constitute more than one-third of the average Asia ex-Japan fund portfolio.

Source: Economic Times February 28, 2017 13:07 UTC