EGShares India Infrastructure (NYSEArca: INXX)
October returns: 10.4%
Comment: Larsen & Toubro, India’s largest infrastructure conglomerate by revenue, experienced a string of better-than-expected results, reports James Crabtree for Financial Times.
“Beyond liquidity, the underlying factor here is that outside the really popular areas like IT and pharma, a lot of the broader market is actually pretty attractively valued,” Andrew Holland, chief executive of Ambit Investment Advisors, said in the Financial Times article. “So investors have come back in now feeling confident about global conditions, and taken a look at industries they didn’t like much before, and found that they look reasonably priced.”