Overseas investors chasing higher returns can’t ignore India’s stocks as its economy ranks among the world’s strongest and bears the fruit of government-led reforms, according to Manulife Asset Management. Foreign investors have pumped more than $11 billion into Indian equities this year on bets there will be political stability and more room for a majority government to push for economic reform. About 29% of Gupta’s $257 million Manulife India Equity Fund has holdings in banks and financial companies. Manulife Financial Corp., which manages more than $1 trillion of assets globally, oversees about $500 million of Indian equities. On June 21, it signed a venture with India’s Mahindra Asset Management Co. to invest $35 million for a 49% stake.

Source: Mint July 03, 2019 02:26 UTC