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...in increased investment flows into India. Following the political unrest that roiled the Indian stock market in recent weeks, those institutional investors are sticking by their allocations.
Emerging markets equity was one of the best-performing asset classes last year, and for the year to date as of May 25, the MSCI Emerging Markets index returned 53.5%. For the last three years, the average annual return has been 45.6%.
India, which makes up 5% of the index, was one of the best-performing markets in the sector last year, said Tapan Datta, director, emerging markets economics and strategy at Schroder Investment Management Ltd., London.
$7 billion invested
During 2003, $7 billion in foreign investment flowed into India's economy. Just less than half of that, around $3 billion, came from institutional investors, according to Nilesh Shah, chief executive officer of Rooshnil Securities Pvt. Ltd., Mumbai.
Worldwide...
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