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2017.07.2400:20:00UTC+00Nomura India Fund Surges as Japanese Wager on Modi

The demand for assets of Nomura Holdings Inc.'s India equity fund that it increased by almost four-fold to almost 400 billion yen in just the last year. . Japanese investors owned $13 billion of Indian stocks and bonds at the end of June, the most data going back to 2012, according to the country's regulator.

Nomura said that they have not exerted any special marketing campaign for the fund, and its significant increase is attributed to investors looking for an asset where the growth in the medium to long term, without having concerns regarding sudden swings in the market.

India's economy is growing at around seven times the rate of Japan's, bolstered by a blooming middle class and over one million young people entering the labor force each month. India shares have reached numerous record levels amid the positive prospect regarding Prime Minister Narendra Modi's policies.

Indian money managers have started to call a “consensus trade”, denoting that almost each fund is bullish. Funds from all around the world and even those that are local have injected around $16 billion into the stock market so far this 2017 and bolstering the rupee up 5.6 percent versus the dollar.

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