India funds rocket on election results


The Indian stock market posted its strongest monthly gain for 15 years in May as investors welcomed the election result.

India Infrastructure Opportunities Fund was up 43.73% to bring three month returns to 101.78%. The managers, who had taken down net equity exposure to hedge against the event risk of the election results, ramped up again quickly following the positive news, increasing weightings in real estate, construction, power and infrastructure while reducing weightings in technology and telecoms.

India Capital Fund was up 44.77% for the month to leave three-month returns at 84.19% while Passport India was up 40.7% leaving