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Benedicte Gravrand reports "live" from Geneva:
Yesterday’s conference on India Hedge funds, organised by Jetfin (www.jetfin.com), saw the cream of the crop in this fresh industry. Fresh because the 50 or so hedge funds in India are on average 25 months old. Fresh but not green, as most hedge funds are run by highly professional talents.
Hedge funds in India used to profit from the economic growth, especially through Real Estate and Private Equity. But this time last year, the sharp fall of stocks made it clear that more sophisticated means to hedge had to be used, if one wanted to better manage the risks that this highly volatile market presents.
The hard facts
India is an economic force to be reckoned with; with a population of 1.12 billion and growing, a GDP at US$906 billion which grew at around 9% up to March 07 (8% in the last 3 years), it is only second to the Chinese tiger, within Asia. Consumption and economic growth is expected to grow as the country churns out 10 million graduates a year, amplifying the middle-class who will also require some much needed improvements in the country’s infrastructures. Politics there is taking steps to encourage entrepreneurship and growth. Forex reserves are high. And working-age population is expected to remain high, Mr. Sanjay Sinha of State Bank of India said, when China’s will dwindle.
Out of the 800 or so Asia-dedicated hedge funds, running around US$16...................... To view our full article Click here
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