The daring and fortunate investors who put their faith and global allocation toward India were justly rewarded. iPath MSCI India Index ETN (INP) did the best for the five trading days ending November 1, at 12.85%. An ETN, similar to an exchange traded fund (ETF), has less tracking error so it can mirror the underlying index better, reports Kevin Baker for TheStreet.com. The ETN did the best of the 10 best performing, geographically focused funds, four of which specialized in Indian companies.
Some of the holdings that supported the performance of all the funds include Jindal Steel and Power, that rose 52.68%, Jindal Saw up 34.61%, and Bank of India gaining 28.07%. Second quarter profits were amazing for these companies.
I’ll be leading a panel at the World Money Show in London later this month that will focus on investing in India.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.