Last week, Duquesne Family Office, managed by Stanley Druckenmiller, filed its Q3 13F with the SEC. We’ll look at the fund’s top holdings, buys, and sells.
On Friday, India’s Finance Minister announced tax reforms to reignite the country’s economy. Its corporate tax rate fell by 8 percentage points to 22%.
Indian indexes were the best-performing ones in Asia today. The S&P BSE Sensex gained 0.4% to close at 39,592 while the NSE Nifty 50 gained 0.43% to close at 11,848. Out of the 30 stocks in Sensex, 19 gained, and the remaining lost. With 1.64% gains, HDFC Bank (HDB) was one of the top gainers.
After trading flat on June 19, Indian indexes finally looked up. The benchmark S&P BSE Sensex gained 1.25%, while the NSE Nifty 50 rose 1.2%. For both of the indexes, most sectors were trading in the green on June 20.
The key driver behind the rise in Indian markets this year has been expectations that the current Narendra Modi led government will be voted back to power this year.
The iShares MSCI India ETF (INDA) and the Wisdom Tree India Earnings Fund (EPI), ETFs that invest in Indian equities, have risen 6.8% and 7.6%, respectively, this year.
Consumer prices in India (EPI) increased ~3.0% on a year-over-year basis in April 2017, compared to an ~3.8% rise in March—well below its market expectations.
October repo rate cut It’s no secret that Raghuram Rajan, the former RBI (Reserve Bank of India) Governor, was not given another term due to his differences with the political establishment on the direction of monetary policy. While the Indian government believed that a reduction in the repo rate was vital for the economic growth […]
An important meeting The October 2016 meeting of the RBI (Reserve Bank of India), which concluded on October 4, was an important one. It was the first monetary policy announcement that came via the MPC (Monetary Policy Committee). In India, monetary policy announcements have traditionally been made under the guidance of the RBI Governor, but […]
Urjit Patel was announced as the RBI’s 24th governor. He’s serving as Raghuram Rajan’s lieutenant. Urjit Patel has worked under Rajan as the deputy governor.
From a purely net asset value return standpoint, the Matthews Asia Growth Fund Investor Class (MPACX) was a below-average performer among its peer group for the one-year period ending March 31, 2016
India’s industrial production fell by 1.5% in January, according to the Central Statistical Organization. In January 2015, the industrial production index rose to 2.8%.
In NAV (net asset value) terms, in the one-year period ending January 2016, Matthews Asia Growth Fund (MPACX) came in sixth place among our nine funds.
The Wasatch Emerging India Fund (WAINX) invests with the objective of long-term capital appreciation. The fund invests mainly in small-sized and mid-sized companies with a market cap less than $5 billion.
The Indian rupee was trading on a relatively stable note in the first half of 2015. However, a considerable depreciation in the rupee occurred after August.
The Franklin India Growth Fund (FIGZX) invests with the aim of long-term capital appreciation and across market caps, in equities of companies based in India. As of December 31, 2015, the fund’s total net assets under management were $122 million.
The Eaton Vance Greater India Fund – Class A (ETGIX) is in a close range to the returns of the benchmark for all three periods. In 2015, the fund gave a return of -6.1%.
Compared to other India-focused funds, ETGIX has a small portfolio, comprising only 33 holdings. As of September 30, 2015, the top ten holdings of ETGIX formed 46.8% of the portfolio.
As of December 2015, the Wasatch Emerging India Fund has ~$69.2 million in assets under management. As of September 30, 2015, the fund had 76 holdings in its portfolio.
In 2015, the ALPS Kotak India Growth Fund returned -4.6%. The top holding of the portfolio, Infosys, formed 5.7% of the fund’s portfolio and returned 7.5% in 2015.
The ALPS Kotak India Growth Fund (INDAX) intends to invest at least 80% of its net assets directly or indirectly in equity and equity linked securities of Indian companies.
With 2015 behind us, we will study the prospects of Indian equities in 2016. We will look at certain macro indicators and the performance of the Indian equity market.
After the first four months of an impressive net inflow of FPI, Indian equities lost a substantial investment of foreign money. August 2015 witnessed the highest exodus of foreign money from Indian equities.
In this series, we will analyze the performance of the Indian equity market in 2015. The S&P BSE Sensex, considered as a benchmark index, gave a return of -3.7% in 2015, expressed in Indian rupees.
India’s net FPI (foreign portfolio investment) has been negative on almost all days in December, especially for the equity segment, which saw a net outflow of $287 million on December 1.
India manufacturing PMI fell to 50.3 in November India accounts for about 2.5% of the world’s GDP, and manufacturing activity accounts for ~17% of India’s GDP. According to Markit, the Nikkei India manufacturing index declined by 0.4 points to 50.3 in November, compared to 50.7 in October 2015. Although manufacturing was down, India’s GDP rose to […]
The “repo rate” is a repurchase option rate. It’s a key monetary policy rate for the Reserve Bank of India. It’s the rate at which the RBI lends to commercial banks.
On November 10, 2015, the government of India announced major reforms in FDI (foreign direct investment). The government has introduced reforms in 15 major sectors of the economy.
Launched in April 1984, the American Funds EuroPacific Growth Fund (AEPGX) invests in companies of all sizes, located primarily in the Pacific Basin and Europe.
Growth in emerging economies fell in 2015, compared to 2014, because of a fall in commodity prices. This led to a hard landing for commodity exporters.
India’s repo rate stood at 8%, but after three cuts the rate stands at ~7%. Such policy actions affect the rupee, Indian companies, and India-focused ETFs.
In this article, we’ll look at three broad macroeconomic indicators for India. They include economic growth, consumer prices, and industrial production.
Indian stocks had a strong run in the last half of 2014 through early 2015, but the ride since then hasn’t been smooth. The INDA is up only 2.6% in the one year ended June 2015.
Attracting foreign investment has been key for the Modi government in its first year, particularly given all those visits abroad. This is a step in the right direction.
The major constituents held by India-focused ETFs show a mixed bag. While ICICI Bank saw a total return of -8.74%, HDFC Bank’s gain stood at 13.22% since the start of 2015.
There’s a possibility that the government could be soft on its fiscal deficit target in 2015. A lack of corporate spending could push it to increase expenditure this year.
Today, most nations are trading with each other. It’s important to look at a country’s trade balances. Trade balances account for a significant portion of a country’s current account.
Indian Prime Minister Narendra Modi embarked on his five-day visit to Japan on August 30 with the belief that India and Japan can make history by working together in several areas, like digital, solar energy, technology, and skills.
Japan and India are Asia’s second- and third-largest economies, with gross domestic products, or GDP, equivalent to $4.9 trillion and $1.9 trillion, respectively, according to World Bank statistics for 2013.
Prime Minister Narendra Modi recently visited Japan on a five-day trip beginning Saturday, August 30. Modi’s visit to Japan aimed at strengthening trade relations between India and Japan and fostering developmental agreements.
