Today, the Reserve Bank released the results of the 2020-21 round of the Survey of Foreign Liabilities and Assets of the Mutual Fund (MF) Companies^[1].

The survey covered 44 Indian MF companies and their Asset Management Companies (AMCs), which held/acquired foreign assets/ liabilities during 2020-21 and/or in the preceding year (list given in the Annex). The stock of external assets and liabilities of their AMCs is taken from the annual census on foreign liabilities and assets of direct investment companies and the information on face value and market value of units held by non-resident, unit premium reserve and other foreign liabilities were collected under Schedule 4.

Highlights:

I. Mutual Fund Companies:

• Foreign liabilities of MF companies stood at US $14.5 billion in March 2021, which were mainly in form of units issued to non-residents. Foreign assets of MF companies increased due to rise in equity security and other foreign assets during the year and stood at US $ 2.9 billion at end-March 2021 (Table 1).

• UAE, UK, USA and Singapore together accounted for nearly 45 per cent of the total MF units held by non-residents, both at face value as well as at market value (Table 2 and 3).

• Overseas equity investments of MF companies were largely concentrated in the USA and Luxembourg (Table 4).

II. Asset Management Companies:

• Foreign liabilities of AMCs stood at US $ 5.7 billion in March 2021 whereas their foreign assets were much lower at US $ 0.1 billion (Table 5).

• Non-residents in Japan and UK together held nearly 89 per cent of FDI of the AMCs (Table 6).

• The relatively small overseas investments by AMCs were largely held in Guernsey, Singapore and Mauritius (Table 7).

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/866

¹ The results of the previous survey round for the year 2019-20 were released vide press release dated October 20, 2020.