India Capital rockets on earnings figures


Coming into 2012 very overweight banks and finance firms positioned the India Capital Fund well to benefit from a turnaround in India. The fund was up 22.01% at the end of January. By late 2011 the rupee had stabilised and then strengthened, the cash reserve ratio was reduced, inflation had fallen sharply and many companies have surprised with great earnings, explains India Capital’s Jon Thorn.

Banks were out of favour for much of 2011 but this year the market has seen that they are doing well operationally, as in fact many of them did in 2011, and remain