Modi's mandate fills Indian managers with hope
The multi-year highs recorded by the Nifty and Sensex indices have fuelled optimism that retail investors will finally help to dispel gloom and reignite the nation's mutual fund industry.
Asset managers in India are optimistic that prime minister Narendra Modi will be able to solve structural issues that have hamstrung the domestic funds industry for years.
It comes after Modi’s Bharatiya Janata Party (BJP) became the first to win a parliamentary majority on its own in India for 30 years.
Ashu Suyash, chief executive of L&T Mutual Fund in Mumbai, reflects that the BJP has a decisive mandate to push ahead with the reforms necessary to promote the nation’s fund…
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