22.10.2015 - Sovereign wealth funds sell chunk of Indian stocks; oil-rich countries among top sellers
Sovereign wealth funds, known to be long-term global investors, aggressively pulled money out of Indian stocks in the recent emerging market sell-off in the last couple of months. These funds withdrew roughly Rs 6,000-7,000 crore from domestic shares between July and September by selling shares directly, redeeming from global emerging market funds and India-centric funds, according to three people familiar with their investments. These investors have invested in India through a mix of direct investments, mutual fund schemes and emerging market funds. Official data on how much they pulled out of India is not available. Funds owned by oil-rich countries such as Abu Dhabi, Kuwait, Qatar and Oman were among the top sellers as international crude oil prices crashed to six-year lows...............................................Full Article: Source
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