Indian mutual funds dominate world's top 100 list in 2007
Reliance Power’s IPO, SBI’s right’s issue (approx USD 4 billion), BSNL to sell 10% of its stake for USD 10 billion. For the equity market, 2008 is going to be another bumper year. How many will make money or how many will miss out on the bull run is something that time will tell.
But, as of now, i have no interest in applying for the Reliance Power’s IPO. Am staying away. Iam more interested in a proven performer like BSNL or SBI than the hot air spewed by Anil Ambani.
Indian equity funds stormed into the Lipper list of the world’s 100 top-performing stock funds of 2007, with 40 funds making a mark compared with none a year ago, as Indian shares turned in their best performance in four years. A power sector fund from the country’s largest asset manager Reliance Capital led the Indian top performers in 2007.
The top-100 list, carved out from a set of 24,887 funds tracked by global fund intelligence firm Lipper also includes five India-dedicated offshore funds. Over the 10-year period ended December 2007, local funds are clear winners with seven of the world’s top 10 funds from India.
“Indian funds had a revelling year, with the broader markets faring well and the mid- and small-cap segments outperforming their bluechip peers by a significant margin in 2007,” Dhruva Raj Chatterji, research analyst with Lipper in India, said.
Full article here.