India Stock Market Performance | Hedge Funds at Fault?

India Stock Market

India Stock Market Performance | Hedge Funds

( Hedge funds seem to be making friends around the world. Here is a piece on hedge funds negatively affecting emerging market exchanges as they pull out of places such as India due to poor local stock market performance in India and overall redemption requests from investors. Here is the article excerpt:

MUMBAI: As the Indian market went into a tailspin yet again on Friday, the finger of blame once again pointed to leveraged hedge funds, which are trying to cut their losses and run. But some global fund managers and hedge fund officials maintain the crash was accentuated by too many leveraged players rushing for the exit door at the same time, and not just hedge funds alone.

“Money is flowing out of every emerging market, not only in India. How does one differentiate between a hedge fund and local mutual fund selling,” asks Amit Bhartia, partner, GMO (Grantham, Mayo, Van Otterloo), a global institutional money management
firm managing $120 billion of assets.

“For any country today, you need serious policy action to stop the carnage. What is worrying is that in a country like India, actions are more reactive than proactive. What is the need of the hour is a serious statement and policy action by government to jump-start infrastructure and maintain growth,” he adds. Source

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