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

US funds expected to start investing heavily into Indian markets

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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