Tag Archives: India

Active vs Passive Investing – Looking at 2013 Mid-Year Results

The past 12 months ending June 30 saw an impressive rally in the domestic equity markets with S&P 500, S&P MidCap 400 and S&P SmallCap 600 posting double digit gains.  During that period, the majority of active managers in all the categories except small cap growth underperformed their benchmarks.  The SPIVA 2013 mid-year report shows Read more […]

Hope is a Good Thing

The unprecedented decline of the Indian Rupee has been the headline for the past few weeks. The chief drivers have been high current account deficits fuelled (literally) by oil- the sluggishness of the Indian economy driving out foreign investments, which had been impacted by the tapering of the quantitative easing program of the Federal Reserve Read more […]

Next Steps for India?

It could be said that the ETF business has been a 20 year “overnight” success. Since the introduction of the first ETF back in 1993, we have seen a global expansion across multiple Exchanges and a diverse product offering. As at the end of July 2013, there were 3,441 ETFs, with 7,792 listings, assets of Read more […]

The Rupees’s One Way Slide – Is There a Silver Lining?

In the past few weeks, most of the Indian treasury desks have taken on a war-room look. Too many events got crammed in relatively short time. Most of us know that Rupee has seen a near oneway slide against the dollar, losing nearly 26% in value in last 2 years. It’s but natural that RBI Read more […]

Recent Changes in India – Impetus for ETF Growth?

Since its inception a decade ago, ETFs’ in India have clocked significant growth. The number of ETFs’ and ETP listed has grown to 37 and are spread across Gold and Equity with a single money market ETF. While the assets are currently at $2bn, there are changes afoot which will see the ETF business undergo Read more […]

To perform or not to perform…that is the question for the Indian PSU ?

The notion of an investment in equity of a public sector undertaking may appear to be a very stable investment with long term growth opportunity especially in developing countries like India. However if we explore the performance of the S&P BSE PSU with S&P BSE SENSEX in a five year horizon, the picture turns out Read more […]

Back to School Shopping: Pricey Clothes Are Not Just Name-Brand

If you are back to school shopping and notice clothing prices are higher this year, don’t just blame it on designer brands. Cotton has been on a roll as measured by the S&P GSCI Cotton, which is up 21.5% YTD through Aug. 19, 2013. The last time the S&P GSCI Cotton was up over 20% YTD through Read more […]

How Badly is Gold Bleeding?

In light of much negative news about the bust in gold, I thought it might be interesting to share the impact the gold drop has had on dollar exposure in the two most widely used commodity indices, the S&P GSCI and DJ-UBS.  Below is a note we published today in a media bulletin: Good afternoon Read more […]

THE Golden Question?

What is your long term outlook for gold and where do you see prices moving in the months ahead? This is one of the questions I was recently asked in a Reuters CCTV2 interview.  While we are not in the business of forecasting, we are in the indexing business where we measure markets – and Read more […]

Gold’s Crash Outshines the Need for Heat

Year-to-Date S&P GSCI is off 6.81% S&P GSCI Gold had its biggest one day loss ever,-9.3%, on April 15, 2013, since its inception on Jan 6, 1978, and hit its lowest level since Feb 2, 2011. The decline was due to worries about central bank sales, especially from Cyprus, but also, from the Fed winding Read more […]