Veteran Hedge Fund Manager Loads Up Bearish Bets on India Rally
- There’s nothing underpinning this year’s rally: IDFC’s Kumar
- India’s S&P BSE Sensex hit a record higher earlier this month
This article is for subscribers only.
The rally that’s lifted India’s $2.2 trillion stock market to a record has prompted a veteran hedge fund manager to load up on bearish wagers in a fund launched two months ago.
“As there appears nothing fundamental underpinning this year’s rally we have remained maximum net short on a portfolio level,” Vijay Krishna Kumar, head of liquid alternatives investment at IDFC Asset Management Co., said in an interview in Mumbai.