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From Precy Dumlao, Opalesque Asia:

The India-focused equity Long/Short fund TCT IndiaStar Cayman LTD is managed by The Chatterjee Group (TCG) which has more than $1bn in AuM and is based in New York. The fund gained 2.4% in October after fees and performance allocations (+19.5% YTD), despite "weak" performance of the Indian stock markets.

In a recent letter sent to investors, TCG IndiaStar's fund manager Vijay Krishna-Kumar said October had not been a good month as the fund was not able to sustain September's 3.1% gains. Since inception on April 12, 2006, the fund was up 111.4% net of all fees and. He added that the fund is focused on superior risk-adjusted returns and is not benchmarked to any index.

India market and economic commentary Despite generating a record $6.42bn in foreign institutional investment (FII) in October, the Indian markets were unable to sustain their positive performance and posted only 0.7% in the Nifty index.

The Nifty is the prime index of the 'The National Stock Exchange of India Limited', the Mumbai based Stock Exchange. NSE is the largest stock exchange in India in terms of daily turnover and trading volume in both equity and derivative trading. NIFTY is an index that is made of 50 major stocks listed at the NSE in terms of market cap......................

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