US funds are leading the way in pulling out money from India, with $2 billion of outflows since October, according to data from Elara Securities.

US funds saw foreign inflows of $6 billion in the past week with another $6.6 billion inflows from domestic funds. This is symptomatic of flows moving from emerging markets (EMs) to US funds, with the largest shifts from India, China, South Korea and Taiwan.

Poor show

In contrast, India funds saw outflows of $637 millon this week whereas outflows from India-dedicated funds slowed marginally to $348 million from $426 million in the previous week. India-dedicated active funds posted the worst weekly performance since August last year, slipping 4 per cent.

The largest outflow of $1.2 billion was from China funds followed by South Korea, Taiwan and Brazil which saw redemption of $311 million, $173 million and $125 million respectively.

Overall, FPIs have pulled out over ₹2.25 lakh crore since October in the cash market.