US investors are exiting Indian bonds as they withdraw from emerging markets in anticipation of higher rates back home and a stronger dollar, but Japanese investors are stepping in to fill the breach, fund managers said.
They see a strong advantage in India's stable macroeconomic scenario and possibly the best yields in a large emerging market. Japanese investors, starved of decent returns for decades from fixed income and faced with the Bank of Japan's move to negative interest rates, are taking to Indian debt in a big way.
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