Investment managers bullish on India, say fund exodus likely to be temporary

Mumbai

THE Indian rupee's longest losing streak since May masks growing confidence among global investors in Prime Minister Narendra Modi's management of the world's fastest growing major economy.

A combination of high yields, improving public finances and room for interest rate cuts will lure back overseas investors trimming emerging- market debt in the face of global risks such as a potential US rate increase, according to Franklin Templeton Investment Funds, Mirae Asset Global Investments Co and GAM International Management Ltd.

Foreign funds are s…