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Spooked Investors Flee India Debt Funds as Credit Quality Slumps

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Investors are fleeing from India’s debt funds at the fastest pace in a year as wariness mounts amid widening cracks in the nation’s credit market.

Monthly net outflows from the fixed-income funds jumped to 1.7 trillion rupees ($25 billion) in June, the most in at least a year, estimates provided by Morningstar Investment Adviser India show. The data include all types of debt funds that invest in corporate and government bonds of different maturities and that are sold to both individual and institutional buyers.

The outflux, partly driven by companies redeeming investments to pay quarterly taxes to the federal government, was accentuated by investors exiting funds holding riskier company debt, the data showed.

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