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
- Wal-Mart and allies in face-off with Apple Pay over mobile payments
- India's universal healthcare rollout to cost $26 billion
- Sensex, Nifty hit record highs, shrug off Fed's hawkish tone
- Xiaomi moves into third place in global smartphone war
- Hundreds of Iraqi tribesmen opposed to Islamic State found in mass graves
India's universal health plan that aims to offer guaranteed benefits to a sixth of the world's population will cost an estimated 1.6 trillion rupees ($26 billion) over the next four years, a senior health ministry official said. Full Article