Global investors pulled out $741 million from India-focused funds in 2007, even as Indian bourses saw foreign inflow of close to $17 billion during the year.

Funds focused on India witnessed an outflow of $741 million this year as against an inflow of $1.6 billion last year, according to data compiled by international fund tracking firm EPFR Global.

Foreign institutional investors made a net purchase of shares worth about $16.95 billion in 2007, but weakness in global markets is estimated to have caused the outflow from the international funds focussed on Indian equities. Among sectors, energy funds ended the year at the gallop, absorbing $972 million for the week and halving their net outflows for a year that saw them post a 36.8 per cent gain on their collective portfolios.

Commodity sector funds posted 33.3 per cent gain with net inflows of $5.3 billion for the year, as investors bet  commodities cycle has yet to peak.