FIIs invested Rs 50,000 crore in India this year

Foreign institutional investors (FII) have been bullish on India and have collectively invested nearly Rs 50,000 crore during the first five months (Jan-May) in the current 2017 calendar year.

This has been attributed to improved business sentiments and equity markets hitting record highs over the past few weeks.

Besides, the domestic retail investors have been investing Rs 4,000 crore a month in mutual funds instruments.

“The equity sentiments have been positive in India and retail investors have been bullish in their investment decisions, especially systematic investment plan (SIPs),” Principal PNB Asset Management Company chief investment officer Rajat Jain said here.

The tier II and III towns are showing promise and emerging as good equity and investment hubs.

The domestic funds industry had clocked cumulative growth of nearly 50 percent over the last two years and total asset under management (AUM) of mutual fund industry had touched the level of Rs 18,00,000 crore.

Principal PNB is a joint venture between US-based Principal Group and public sector Punjab National Bank, which is a minority share holder in the joint venture company. At present, it has AUM of nearly Rs 6,000 crore with about 4,00,000 customers pan India.