Funds based in Mauritius and Canada have been the hardest hit, witnessing a sharp 25% drop in AUC. In contrast, Norway-based funds reported the smallest decline, with their AUC falling by 14%.
Meanwhile, funds from other key investment hubs—including the United States, Singapore, Luxembourg, Ireland, the United Kingdom, and Mauritius—each saw their AUC shrink by around 20%.
Foreign portfolio investors (FPIs) have dumped over Rs 3 lakh crore ($36 billion) of Indian shares since October 1, dragging the benchmark Nifty 50 down 11%.
The selloff has hit smaller stocks harder, with the Nifty Midcap 150 sliding 18% and the Nifty Smallcap 150 shedding 22%.

As of February, foreign portfolio investors’ AUC in India had dropped to Rs 62.3 lakh crore ($750 billion), down 20% from Rs 77.9 lakh crore in September 2024. The ratio of India’s market capitalisation to FPIs’ AUC fell to 15.74%, continuing a steady decline since December 2020 amid rising inflows from domestic investors.