In November, foreign institutional investors pulled out $1 billion from Indian equities, while domestic institutional investors and mutual fund invested $1.3 billion and $ 0.7 billion, respectively. Insurance firms had invested as annualised first-year premium of life insurance companies grew 50% in October. Much of the insurance industry’s growth was because of increasing ULIP sales, which has been driving up ticket size. Also, equity mutual funds saw inflows for 19 consecutive month in November. In equity funds, assets of exchange traded funds have seen inflows after the Employee Provident Fund Organisation decided to invest 5% of its incremental inflows in the equity markets through ETFs.