Modi-Backed ETF Hooks Investors
- Fund prospects boosted by commodity revival, energy focus
- New tranche to see strong retail participation: Outlook Asia
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For investors, India’s Prime Minister Narendra Modi is emerging as the best manager of companies.
His government’s exchange traded fund of the top 10 state-owned firms has returned 31 percent in the past year, more than double the gains in the benchmark stock index, data compiled by Bloomberg show. Investors who missed buying the fund three years ago will get an opportunity on Wednesday as Modi seeks to raise 45 billion rupees ($660 million) selling new units.