The Globe and Mail newspaper’s Report on Business ran yet another column on investing in India. For people not following the India story, the Bombay stock index has been hitting all-time highs recently. The column mentioned the Excel India Fund and “two closed-end funds that trade on the NYSE” (IIF and IFN for those interested).
The best part of the column is the following quote from a money manager: “How specific does an investor want to get? [Country-focused funds] are fantastic when the market’s hot and they’re really horrible when the markers are not. There’s nothing the manager can do about it”. In other words, it is best to stick with a broad emerging markets fund like the EEM.
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