India hedge funds perform best on Modi factor
They are heading for strongest return in five years after Modi's election win
[SINGAPORE] Hedge funds investing in India have become the world's best performers this year on expectations that Prime Minister Narendra Modi will revive Asia's third largest economy.
The funds investing in the South Asian nation have returned 26 per cent this year through July, according to Eurekahedge Pte. That compares with an average 3.5 per cent gain for those investing in Asia, 1.9 per cent for Greater China, 1.2 per cent for Japan, 3.8 per cent for North America and 1.1 per cent for Europe, the Singapore-based data provider said.
India-focused hedge funds are set for the strongest return in five years after Modi secured the nation's largest election victory since 1984 in May. The prime minister has pledged to restore economic growth, rein in inflation and the budget deficit, as well as revive stalled projects to boost investor confidence.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance