With a gain of 6.1% – the MSCI India Index was the top performer in May

With a gain of 6.1% – the MSCI India Index was the top performer in May
Investment advisers in the UAE are upbeat about Indian equities and recommend exposure to mutual funds.
Rapid recovery rates from Covid-19, structural reforms and a low oil price should bolster India’s economy, says an India equity investment adviser.
While financial services and technology continue to be popular sectors in India equities, First State Investments finds opportunities in other parts of the market.
The decision is unrelated to the current pandemic and has no impact on the firm’s wealth management growth strategy in Asia.
Other plans include offering its globally-listed ETFs to investors in Southeast Asia.
FSA compares two India equity products: the First State Indian Subcontinent Fund and the JP Morgan India Fund.
The deal comes after the firm launched its wealth management business in Thailand.
Reliance Asset Management has applied to sell an India-focused ETF in Singapore.
Indian funds have produced solid returns during Modi’s prime ministerial tenure, but there are doubts that his mixed performance will retain the confidence of his electorate.
Part of the Mark Allen Group.