India-focused hedge funds up 17% on Modi election victory

US funds expected to start investing heavily into Indian markets

india-modi
An Indian election poster for Narendra Modi and the BJP party

Positive market sentiment and decisive election results have seen India-focused hedge funds post returns of 17.47% year-to-date according to data provider eVestment, with hedge fund investment expected to increase further in the post-election environment, say dealers.

The CNX Nifty index is up 23% year-to-date and closed at a record high of 7,655 on June 10. India-focused hedge funds gained 6.75% in the month of May alone on the back of the Indian general election results announcement on May 16.

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