The rise and rise of ex-China EM funds can bring big flows to D-Street
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Mumbai: In the global money hubs, the EM menu now has a pretty varied spread - and Chinese isn't the staple dish any longer. The number of ex-China EM funds has nearly doubled to 70 worldwide in two years, Morningstar data showed, reflecting a robust investor appetite for such assets outside of China. And Mumbai is a key beneficiary of this shift, said fund managers. "India is expected to be a big beneficiary of such funds in the months to come," said Kailash Kulkarni, CEO, of HSBC Mutual Fund. "India is structurally placed very well, with the economy fueled by multiple themes. Fiscal discipline, growing forex reserves, and a currency that has been least volatile as compared with others have helped give a lot of confidence to global investors, who are looking at investing in growth markets." This year, more than 20 emerging market ex-China equity funds have launched - exceeding the total number introduced in all of...