21.02.2013 - India: Sovereign wealth funds lap up permits to buy bonds
Sovereign wealth funds and endowments lapped up permits to buy Indian government and corporate bonds as the signs of macro-economic stability are getting stronger and the returns, at least in rupee terms, remain higher than peers. The Securities & Exchange Board of India received bids for .Rs34,984 crore of corporate bonds where the auctioned amount was Rs 26,925 crore, with total investors at 49. "The auctions are an indication of appreciation of yield pick-up available here," said Parthasarthy Mukherjee, president, treasury and international business, Axis Bank.........................................Full Article: Source
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