Indian Equity Markets See $2.89B Outflows as U.S. Large-Cap ETFs Attract Massive Inflows: BOFA

Indian equity markets experienced the highest outflows in Asia in May, with foreign institutional investors (FIIs) withdrawing $2.89 billion. Meanwhile, U.S. large-cap equity ETFs saw massive inflows over the past week, with global equities also attracting strong interest. Fixed-income funds marked another strong month in April, attracting $29.1 billion in inflows, indicating a shift in investor sentiment. However, money market funds saw outflows of $14.6 billion in April, following a dramatic $92 billion departure in March. Emerging market debt outflows resumed at $1.1 billion, while emerging market stock outflows resumed at $40 million. Investors put $5.1 billion into bond funds in the week to Wednesday, marking the 23rd week of inflows, according to BOFA citing EPFR data. Investment grade bonds received $3.6 billion, their longest streak since 2019. Investors also pulled $6.7 billion from cash, putting $1.8 billion into stocks and $600 million into crypto.