Analysis of the Largest Offshore India-Focused Equity Funds and ETFs
Top 10 largest offshore India-focused equity funds and ETFs. Check details
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In the past year, the Franklin FTSE India ETF and Franklin FTSE India UCITS ETF led in net inflows, with $997 million and $743 million respectively. However, the total assets of the ten largest offshore India-focused funds and ETFs fell by 22% to $31 billion in March 2026, indicating a challenging market environment.
- 01Franklin FTSE India ETF received the highest net inflow of $997 million over the past year.
- 02The total assets under management (AUM) for the top 10 funds declined from $39.9 billion to $31 billion, a drop of 22%.
- 03The iShares MSCI India ETF remains the largest fund with an AUM of $6,746 million.
- 04Kotak India Midcap A USD Acc saw its AUM decrease from $3,470 million to $2,839 million.
- 05Fidelity India Focus A-USD's AUM fell from $2,677 million to $2,053 million during the same period.
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According to a report by Morningstar, the Franklin FTSE India ETF and Franklin FTSE India UCITS ETF have emerged as the leading offshore funds focusing on India, with net inflows of $997 million and $743 million, respectively, over the past year. However, the overall performance of the ten largest offshore India-focused equity funds and exchange-traded funds (ETFs) has been less favorable. The total assets under management (AUM) for these funds dropped 22%, from $39.9 billion in December 2025 to $31 billion by March 2026. This decline reflects a challenging market environment affecting all funds in this category. The iShares MSCI India ETF continues to dominate the sector with an AUM of $6,746 million, followed by the iShares MSCI India ETF USD Acc at $4,673 million. Other notable funds include GS India Equity I Inc, which saw its AUM decrease to $3,808 million, and Kotak India Midcap A USD Acc, which fell to $2,839 million. Fidelity India Focus A-USD also experienced a significant drop in AUM, from $2,677 million to $2,053 million.
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The decline in AUM for these funds may lead to reduced investment opportunities for investors focused on Indian equities, potentially affecting their portfolio performance.
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