The RBI-linked report points to an increase in mutual funds’ overseas assets alongside a reduction in net foreign liabilities. The supplied information does not state the period covered by the 24% rise or give the total value of those overseas assets.

The UAE, the US, the UK and Singapore together accounted for almost half of non-resident holdings in Indian mutual funds. Their individual shares have not been stated, so the information does not establish which of these four countries had the largest holding.

The two findings describe different aspects of mutual funds’ cross-border position: assets held overseas and non-resident holdings in Indian funds. The reported decline concerns net foreign liabilities; the supplied information does not say that non-resident holdings themselves fell. It also does not provide the size of the reduction in net foreign liabilities or identify individual schemes.