Investors stick to India, but look at China: BofA-ML
Reuters Market Eye - Emerging market investors have adopted "a modest overweight" position on Indian shares for the first time since July 2010, according to Bank of America-Merrill Lynch's survey of fund managers, which was out on Wednesday.
However, among Asia-Pacific investors, India was among the least favoured region, alongside Australia and Philippines, according to the BofA-ML survey.
The BSE Sensex rose 25.7 percent in 2012, outperforming the regional benchmark MSCI Asia Ex Japan index, which rose 18.56 percent in the same period.
In a separate report, BofA-ML says investors are "generally overweight" on India, based on feedback from investors in the U.K. and Europe, having added to their positions in the past six months.
However, part of that preference was driven by an "underweight" position in China.
With the risk of a hard landing receding in China, and with a potential cyclical shift in the making, BofA-Merrill says, "there is a possibility of a move towards China over next few months".
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- Current underwater search for Malaysia plane could end within a week
- UPDATE 4-Security threat reported on Detroit-Denver Delta flight
- Security threat reported on Detroit-Denver Delta flight
- India passes halfway mark in election with BJP gaining strength
- Search resumes after Everest's climbing tragedy
Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article
Turning smog into jewels - a Dutch designer's solution to Beijing's pollution. Video