India-Focused Hedge Funds Become World’s Best Performers in 2014
The world’s best performers in 2014 are the India-focused hedge funds 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 percent this year through July, according to Eurekahedge Pte. That compares with an average 3.5 percent gain for those investing in Asia, 1.9 percent for Greater China, 1.2 percent for Japan, 3.8 percent for North America and 1.1 percent for Europe, the Singapore-based data provider said.
India-focused hedge funds, with a sixth of the $16.5 billion in assets of those investing in Japan, 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.Source: Businessweek