IIF - IIF: Active Indian Fund Poised To Ride A Catalyst-Rich 2024

2024-02-18 03:58:25 ET

Summary

• India remains one of the most attractive equity markets in the world.
• With a major election on the horizon, positioning via a quality active manager like IIF makes a lot of sense.
• A wider than usual NAV discount and ongoing buybacks add to investors’ safety margin.

In contrast with the downbeat mood this time last year, India is quickly emerging as a consensus emerging market favorite. To some extent, re-rated P/E valuations reflect the improved sentiment. Yet, a lot of capital is still sitting on the sidelines (note Indian stocks saw the biggest monthly foreign outflow in a year last month). Market accessibility and expenses (visible and ‘invisible’) also continue to be major issues for foreign funds looking to invest directly in Indian listings....

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