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Pratik Sharma By Benedicte Gravrand, Opalesque Geneva:
Even if the Sensex and India hedge funds are recovering from last year, a combination of events and projects are simply making the country unattractive to foreign investors. Indeed, wherever you turn, there is something that could be seen as a deterrent, be it policy paralysis, currency depreciation, lower stock prices, tax provisions or upcoming regulations for alternative investment funds. So hedge funds are either suing companies, publicly pulling out equity investments or exiting short positions. A fund manager, however, says sentiment will turn, and at that point, it will be good to be invested in India.
Q1 in India
During the first quarter (Q1) of 2012, India witnessed several events that will have a bearing on the future course of the economy, writes Pratik Sharma, managing director of Atyant Capital, in his latest monthly fund report. The Boca Raton, FL-based asset manager specialises in Indian equities and precious metals.
The ruling Congress party did not do well in the elections in Uttar Pradesh and other smaller states, thereby weakening the power of the federal government and strengthening state governments. Sharma does not see this scenario changing and believes that politics and policy reform will remain in a state of limbo until the end of term for the current federal administration in May 2014. The new union budget for the federal governmen...................... To view our full article Click here
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