A steepening yield curve is luring fund managers in India to add longer-tenor sovereign bonds as they bet that the country’s central bank will keep the yields in check.
Nippon Life India Asset Management Ltd. is loading up on 7-14 year debt, moving up from the 4-6 year notes, while IDFC Asset Management Ltd. is buying into the 9-14 year segment, fund managers at the companies said. DSP Investment Managers Pvt. is adding securities in the 9-13 year segment, according to its fund manager.
