FII money came via emerging market funds

Among emerging market funds, Virtus Emerging Markets Opportunities Fund recorded the highest estimated inflow into Indian stocks during the year 2012 of $786 million, helped by an overall inflow of $3.4 billion into the fund during the year.

This active emerging market fund also saw its India allocation rise from 18.7 per cent at the end of 2011 to 25.7 per cent in September 2012 (on a net basis) as per last available data. Vanguard Emerging Markets Stock Idx Fund recorded an estimated portfolio inflow into Indian stocks during 2012 of around $763 million, helped by an overall inflow of $11.7 billion into the fund during the year.

The fund is a passive emerging market index fund with assets in excess of $75 billion at the end of 2012, of which an estimated $5 billion was invested in Indian stocks. Its net allocation to Indian stocks went up from 5.5 per cent at 2011-end to 7.2 per cent at September-end 2012.

Another emerging market index fund, iShares MSCI Emerging Markets Index Fund also registered an estimated inflow of $679 million into Indian stocks during the year 2012, helped by an overall inflow of $10.5 billion into the fund during the year.

Besides Virtus, other active emerging market funds like Oppenheimer Developing Markets Fund, Vontobel Emerging Markets

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