India's economic prowess has become a focal point for institutional investors eyeing long-term growth. Traditionally, investors lean towards Global Emerging Market.
A significant part of this selling within the financial services sector was in private banks, particularly HDFC Bank, which is highly concentrated by FPIs.
Even though the Nifty IT index has outperformed the Bank Nifty this year so far, brokerage house Elara Capital suggests moving back to financials from IT, gradually. In the note, the brokerage mentioned that the relative flow momentum in financials versus IT is at multi-year support.
St. James’s Place (SJP) has made changes to total ongoing charges and the management of its Global Smaller Companies, Global Emerging Markets and Emerging Markets Equity funds.